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jgenn

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Journal Entries posted by jgenn

  1. jgenn

    Lights, Camera, Action!

    By jgenn,

    Most of the action is in re-positioning the lights.
    Today I took one of my best coin photographs.
    I've been working on improving my photography skills and I've re-imaged much of my collection over the last two years. My setup is fairly modest; an inexpensive copy stand and refurbished Canon SL1 DSLR, with macro capable lens, that I got for a super low price last Black Friday. Frankly, I'm not sure I see much improvement over my previous camera, a Canon G9, since I mainly photograph large sized coins. Both have the essential features; macro focus and white balance control.
    The key to better coin photography, however, is proper lighting. You could say that each coin requires a specific setup of lamps and I find that to be mostly true with the variety of older world crowns that I collect. Two types that I find especially difficult to photograph are the darkly toned coins with muted luster and the highly lustrous, low mint state, ones with many surface imperfections. Small changes to angles can help minimize how distracting scratches and other surface dings will appear, so I take many shots with slight lighting alterations or coin rotation.
    Photographing encapsulated coins presents additional challenges. Scratches and abrasions on the slabs can be managed with lighting angles or polishing the plastic but the big problem for certain situations is the reflection of the light source off the surface of the slab. This limits your options for getting your lamps close to the coin and at a highly perpendicular angle.
    I posted a journal about this thaler before, shortly after I acquired it. Since then, I got the coin re-holdered for free, due to the incorrect label, so that took care of the many scratches on the original slab. But this is a very darkly toned subject with rich colors that are difficult to bring out. After dozens of shoots with different types of lamps and arrangements I finally captured both the colorful toning and design definition in the way that I wanted. I lit the sides with two OttLite tube lamps at nearly perpendicular angles to bring out the color. Then a bright CFL positioned at 12 O'clock at a 45 degree angle gives the steed a daylight-like direction for highlights and shadow, as well as definition for the other design elements. I only gave the image a small bump in contrast and saturation -- not very much was needed.
    I know many of today's collectors go wild for colorfully toned coins. When it comes to older worlds crowns, however, I'm lucky to fine nice, problem-free examples so I can't be too choosy. If it came down to the option for a new crown to add to my collection or a colorful example of a coin I already have, I would probably choose the one I don't have. Still, I'm proud to show off an example of a happy accident of what we would now consider improper storage in a sulfur laden paper envelope.
    ~jack

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  2. jgenn

    Like a Box of Chocolates

    By jgenn,


    1684 ducato of Naples
    To paraphrase Forest Gump, coin collecting is like a box of chocolates, you never know what you're gonna find.  I find this especially true of the Heritage weekly world coin auctions.  Sorting out all of the consignments that Heritage gets into their various auction formats must take quite a bit of time and when it comes to world coins, I doubt if all the people involved are experts in all coins across all of coin minting history.  Still, I am surprised to find the occasional scarce variety pop up in the weekly auctions.  Late last year I found a scarce pillar dollar, one of the difficult date/assayer combinations in the 1760-1771 Mexico City 8 reales series (Gilboy R2, 25-50 pieces known). This one is a straight graded AU with good eye appeal that replaces a rather ugly details graded one that took me years to find.   In a weekly coin auction this year I found a really special coin that just happens to be related to the pillar dollars that I focus on. And it's a pretty important coin in general for those of us interested in coin imagery (as in the images depicted on coins as opposed to coin photography).    1684 ducato of the Kingdom of Naples (and Sicily).  The obverse shows the bust of Charles II, ruler of the Spanish Empire which, at this time, included the Southern portion of Italy and the island of Sicily.  The reverse has the legend VNVS NON SVFFICIT (one is not enough) which was previously seen on medals and printed works of art as VNVS NON SVFFICIT ORBIS (one world is not enough), and depicts a pillar surmounted by a crown and two hemispheres of the globe.  The initials on the reverse are for the mint official Andrea Giovane and assayer F. Antonio Ariani. On the obverse, the initials under the bust are for the engraver Giovanni Montemein.   Earlier depictions of the two globes theme are not as geographically representative of the New and Old Worlds as we see on this coin.  The earliest example that I have found is from a medal commemorating the union of the French King Francis II and Mary, Queen of the Scots from no earlier than 1558.  Another example is a medal of Francis I, with a date of 1515 but likely produced in the 17th Century, showing one earthly globe juxtaposed with a celestial globe. It seems unlikely that Francisco Hernández Escudero was unaware of these precedents when he designed the iconic pillar dollar in 1729, a coin that would become so successful as a trade dollar across the globe.   ~jack
     

  3. jgenn
    The story of Antonin Prokop highlights one of the important qualities of a serious coin collector -- sheer persistence.
    The Czech numismatist, Antonin Prokop, lived and worked in Russia at the beginning of the 20th century and assembled an exceptional collection of Russian coins during Tsarist rule. In 1919, however, the Soviets considered it communal property and confiscated the collection. It was subsequently auctioned off to foreign dealers. Prokop was able to leave Russia in 1921, taking his family to the recently formed Republic of Czechoslovakia where he started a new business and began the process of rebuilding his collection. He was able to buy back some of his original pieces and by the middle of the century, he had again assembled a world class collection.
    Antonin Prokop died in 1954 but later in the same year Soviet influence would once again claim his collection. This time, the Communist regime consigned the entire lot to be melted for its precious metal content. Fortunately, it was saved from this fate by the head of the numismatic section of the Czech National Museum and was quietly preserved. After the 'Velvet Revolution' of 1989, the collection was returned to Prokop's family.
    Today, the significant portion of the Antonin Prokop collection of Russian coins is considered a national treasure and housed in the National Museum in Prague. A lesser portion of his collection was auctioned to the public in 2003 by Aurea Numismatika. I thank Dr. Jarmila Haskova for preserving this bit of numismatic history.
     
    My love of big, old silver coins is not limited to 8 reales. I'm working on a type set of silver dollar sized coins from around the world, mostly 18th century, and this interesting story gives me a chance to show off one that I have recently acquired. This is an example of the principal silver coin of the Russian Empire, the rouble. It is from the early years of the reign of Elizabeth, second-oldest surviving daughter of Peter the Great. Roubles shrank in size and fineness over time -- this one, minted in Moscow, is 25.85 grams and 80% silver. And, of course, it is pedigreed to the Antonin Prokop collection.
    ~jack

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  4. jgenn

    Mansfeld Mystery Solved

    By jgenn,

    This a follow up on my earlier post about a 1560 Mansfeld thaler that I bought last Spring and then immediately received buy offers through the Heritage auction site.  I wondered what might be so special about this coin and made some posts on this and other forums to see if I could find out.  Finally, I got a PM through this site from a person who found my earlier post and provided some information about the attribution for this coin.  As I had speculated, there is nothing particularly special about this thaler except that the collector who contacted me has a connection to the Mansfeld region and only collects Mansfeld thalers.  I have agreed to sell this coin so that it can join a collection where it will be special.  My one condition on the sale was to ask the collector to share some of information about these Mansfeld thalers with us here.
    ~jack

  5. jgenn

    Mansfeld Thaler Redux

    By jgenn,


    Mansfeld
    It's been some time since I last posted to my journal.  I have lots of new coins to share but I will start with one that is connected to two of my older posts.  Since I have been fortunate to maintain my income close to that at the beginning of the pandemic, I have taken advantage of the surge in interesting coins appearing at auction this year.  I won't speculate as to why the numismatic areas that I follow have experienced a bountiful supply, as there are many likely reasons, but I have answered with my demand.   The featured coin of this post is a lovely 1560 Mansfeld thaler that I acquired this Spring.  What makes it noteworthy is that it replaces the Mansfeld thaler that I sold to a fellow collector that specializes in that region.  I do not regret that sale and the collector responded with a wonderfully detailed write up on the Mansfeld region and the House of Mansfeld and their coinage in the 16th and 17th century.  Although my replacement coin is of the same date and mint (Eisleben) it is a different variety (DAV-9481, according to the NGC label).  However, it is extraordinarily well struck for a hammered coin of the 16th century. ~jack

  6. jgenn
    Last November, I noticed that the latest round of deaccessions from the Eric P. Newman Numismatic Education Society, billed as the Eric P. Newman Collection Part XI US Coins Signature Auction, also had a few world coins mixed in.  I won this nice upgrade for the 1733 klippe 8 reales that I mentioned in a previous journal entry.  But, I was also curious because of the lot description that included:
    "A scarce-to-rare example of the Philip V 8 reales pistareen with cut sides, struck on a screw press according to the Eric P. Newman kraft envelope, which accompanies the coin."
    I was aware that "pistareen" was a nickname for Spanish 2 reales coins and wondered why Mr. Newman would mention that in his notes about an 8 reales.  Alas, I was unable to glean any more information by examining the envelope because it was not included in the shipment from Heritage.  I did complain to Heritage and they checked with their shipping department and opened an investigation into the issue.  However, after a month they concluded that the envelope was lost.  They did offer a refund if I wanted to return the coin but I elected to keep it, but I was able to get a credit for part of the lot cost. 
    I imagine that it was accidentally shipped with a different lot so if you received an envelope with your package from the Eric P. Newman Collection Part XI US Coins Signature Auction that doesn't seem to belong with your lot, it may be mine.  Please contact Heritage if that's the case.
    As part of my investigation into the "pistareen" question, I came across a great article from the April 2001 issue of the Colonial Newsletter that discusses how a coin that was never meant to be used outside of Spain, was actually one of the most commonly used coins in Colonial Virginia.  This connection may have been how Mr. Newman recognized some of the similar design elements on the 8 reales klippe as the shield on the obverse is the same although the style of the cross on the reverse only bears a slight resemblance.  I'll leave it to you to hunt down example photos of a "pistareen" and I'll just show my photos of my new klippe.
    ~jack

  7. jgenn

    My First US Silver Dollar!

    By jgenn,

    Although I bid on many world lots, the first win of the year was an 1846-O Seated Liberty $1
    Happy New Year fellow collectors! I started my New Year by participating in several of the big world coin auctions held in January, but failed to win lots, including any of the 8 reales from Guatemala that our esteemed NGC registry colleague, Isaac Rudman, offered in the Heritage World & Ancient Coins Auction in New York. So my first win of the year was a US coin from the Orlando FUN auction.
    This particular coin has been on my want list after I was made aware of an interesting book published in 1845, "A Monograph of the Silver Dollar: Good and Bad", written by Dr. John Leonard Riddell, during his appointment as melter and refiner of the New Orleans Mint. The book catalogs the silver dollars circulating in the US at the time (1833-1844) and includes facsimile images and assay data on 425 different varieties, providing a reference to help distinguish between the genuine and counterfeit. It is an exhaustively researched snapshot of US specie and an important historical record.
    What I find so fascinating, as an 8 reales collector, is the following quote: "More than 90 per cent. of the Dollars in general circulation in this country, bear the Mexican stamp. This arises from two facts: 1st. There is far more silver produced from the mines of Mexico, than from the mines of all the world besides: 2d. It is, and has been, the policy of that government, to prevent the export of uncoined bullion, the government deriving a large revenue from its coinage, amounting, I have been informed, to 10 per cent. During the days of Spanish rule, near $23,000,000 in silver were annually obtained from the mines; since the Mexican independence probably $15,000,000 would more nearly express the annual amount. The Mexican Dollar, at the present day, holds the place in the commerce of the world, held forty years ago by the famous Spanish American Pillar Dollar."
    And to further explain why early US dollars are so expensive to collect, "The coinage of Dollars in the United States, virtually commencing in 1795, has never been large. The policy of our government has been to issue a great preponderance of halves, and the smaller denominations of coins, under the impression that they would be less likely to be exported from the country."
    So, for my first US silver dollar, I selected the first one issued by the New Orleans Mint, a coin of melted and refined silver with a significant proportion from 8 reales coins that were removed from circulation.
    ~jack

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  8. jgenn
    2017 was a tipping point for me.   After many years of relentless collecting, I slowed down to the point where I only purchased four coins, and actually sold four coins.  Three of those that I let go were Silver Riders -- ducatons of the Dutch Republic. You will find these beauties cataloged under the coins of the Netherlands, or more properly The Kingdom of the Netherlands as the modern nation is a constitutional monarchy.  Back in the 16th century, seven of the Low Country provinces threw off Spanish Habsburg rule and formed a globe spanning mercantile empire.  In North America, the Dutch established the colony of New Netherland in the early 17th century and its capital at New Amsterdam in 1625 (later renamed New York in 1664 after its capture by the English).
    The Dutch Republic minted several crown sized silver coins with the ducaton having the higher value of 60 stuivers. Produced from 1659 to 1798, the ducaton got the nickname of "Silver Rider" from its obverse design of a mounted knight. The reverse shows the coat of arms of the republic, with the lion holding a sheaf of arrows, symbolizing the unity of the provinces, and brandishing a sword in defense of their liberty. These are impressive coins -- 43-44 mm, 32.78 g and 91.4% silver.
    My initial foray into collecting ducatons was filled with mistakes due to lack of study and patience. For those of you that might consider collecting a nice example, do your homework and take your time.  There are rare types but most are not particularly scarce; well struck, problem-free examples from the provinces with the largest mintages are not expensive relative to other contemporary world crowns.  However, there are plenty of examples with issues and all three of the ones that I sold recently fall into that category.  Two of them came from shipwrecks and show varying degrees of environmental damage.  The one that I was happiest to sell is the one pictured here.  This example is from the province of West Friesland and has a very nice obverse but a weakly struck reverse.  When I previewed the auction I decided to pass on it because of the poor eye appeal of the reverse.  But in the middle of the on-line bidding, I only looked at the obverse and forgot why I initially passed.
    Selling my coins couldn't have been easier.  They were all originally purchased in Heritage Auctions and they were sold through the Heritage "make offer to owner" program.  I set the prices as low as I could to account for the 10% (minimum $40) commission and still get close to breaking even.  Then you wait and either accept an offer at your price or negotiate if a lower one comes in.  It's all conducted through email and the Heritage website -- you mail your coin to Heritage so your anonymity is maintained.  Going forward, I feel my collection has matured and I want to sell coins that are not part of the core.  I'm not in a rush -- my plan is to try selling in a variety of venues with breaking even as my goal.  As for Silver Riders, I still have a few better examples -- notably a 1760 AU-58 from West Friesland in my Silver Dollars of '60 set and a 1791 MS-63 from Utrecht that will get a place in a new set I'm calling "My World Crown Affair".
    ~jack

  9. jgenn

    My Three Suns

    By jgenn,

    A glorious light shines on former Spanish colonies.
    Three of my favorite 8 reales are from the former colonies of the Spanish Empire in the New World. The hopeful aspirations of these newly independent nations are reflected in the beautiful sunface designs of the Provincias Unidas del Río de la Plata, Republica del Centro de America and Republica Sud Peruana. The birth of new nations is a politically contentious process -- these republics had to deal with years of internal and external strife to emerge as the nations we recognize today.
    1813 8 reales of the former Spanish Viceroyalty of the Rio del la Plata that included parts of modern day Argentina, Uruguay and Bolivia. This is the first year of issue and was minted in Potosi. The sunface design on this coin is known as the Sol de Mayo from the story that the sun shone forth from the clouds at the declaration of the new, independent government in May of 1810. The design is similar to the heraldic device called the 'sun in splendor', notable for having alternating straight and wavy rays.
    1825 8 reales of the former Spanish Captaincy General of Guatemala that included modern day Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica and Los Altos (which would become the Mexican State of Chiapas). This is the second year of issue as was minted in Nueva Guatemala (Guatamala City). In my opinion, the obverse design embodies the idea of the light of freedom dawning on a newly liberated land.
    1837 8 reales of the short lived Republic of South Peru that comprised part of modern day Peru and Bolivia. This is the first year of issue and was minted in Cuzco. This sunface is thought to an Inca design, perhaps representing the sun god Inti. The complex reverse design depicts a cornucopia of gold from the Peruvian coat of arms, a crowned tower that some sources cite as the Inca fortress of Saksaywaman overlooking the city of Cuzco, a volcano (perhaps El Misti, one of Peru's most active), and a ship in the ocean. Coincidentally, Charles Darwin noted volcanic activity in the area when he arrived in Lima on the second voyage of the HMS Beagle in July of 1835. Perhaps the engraver was commemorating the visit of this important voyage of discovery.
    ~jack

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  10. jgenn

    Nephew's First Coin

    By jgenn,

    He's a cute little monkey, alright!
    I have enjoyed reading your posts about buying coins for your young family members and finally it's my turn. My nephew is only a few weeks old and I've already got his first coin. Of course I fantasize about him becoming a coin collector like his uncle but I'll be happy if he doesn't sell it at the first opportunity.
    Only time will tell about my nephew's future interests, but it does make me think about how what we post on-line now could very well be retrievable for as long as humans care to archive the internet. If my nephew ever cares to find out how I spent my spare time he can discover my passion for numismatics right here.
    ~Uncle Jack

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  11. jgenn
    What do you think of this type of coin presentation?
    I love the look of old historic maps so I thought I would try to use one as the background with a coin of, roughly, the same period. My coin is a 1629 Scudo of Odoardo Farnese, the Duke of Parma and Piacenza, from 1622 - 1646. The map is from 1699, by Phillip Lea of Cheapside, London. I think the map helps to set the coin in its historic, as well as geographic, context.
    ~jack
    edit: I posted a larger image to the chat board.

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  12. jgenn

    Pandamonium strikes!

    By jgenn,

    Update on my recent diversion while I wait for my latest 8 reales submission to be graded.
    I read Gary's (ghermann44) latest post about his time at the ANA show with Dave (Yankeejose) and noted that he finally bought his wife a silver panda coin. I've been meaning to journal about pandas for awhile so here goes.
    I got sidetracked from my 8 reales passion earlier this year when I bought an MS 70 2011 1 oz Silver Panda coin for my fiancee to commemorate the year that we met. Since pandas are her favorite animal, it was well received and, hopefully, an acknowledgement that coin collecting has a fun side, too.
    Naturally, the coin hunting instinct in me kicked in and I started looking at the competitive sets of silver panda coins. This was my introduction to the modern commemorative bullion collecting that so many of you write about (the SAEs, for instance). It took some investigating into mintages, populations and prices (NGC's Chinese Modern Coin Price Guide was one source) to convince me that these might have a worthwhile payback in addition to their charm. Starting with 2002, a reasonable number of MS 70s are available and each year from then to present has a different, well executed, panda design (the earlier ones look a bit cartoonish to my eye).
    So I've built a short set of silver 1 oz pandas from 2002 to present and my intention is to highlight each design with a nice photo, perhaps in a custom set. Until then, I'll leave you with a nice composite of the 2002 coin.
    ~jack

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  13. jgenn

    Philip II, King of England

    By jgenn,

    This coin caught my attention, when it came up for auction recently, and I checked on the type in CoinFacts wiki and read that the obverse legend for this daalder included Philip's title as King of England.  
    With a little more research, I can say that the July 25th, 1554 marriage of Queen Mary of England to King Philip of Spain brought about a short period where Philip gained the title of King of England and Ireland and was deemed co-ruler by an Act of Parliament.  The terms of the marriage agreement limited Philip's reign to the duration of the marriage -- it lasted until Mary's death in 1558 upon which the throne went to her half-sister, Elizabeth I.
    As far as I can tell, coins using Philip's title as King of England are limited to a few issues from the Spanish ruled provinces of the Netherlands.  This interesting history plus the fact that I did not have a Spanish Empire crown from the reign of Philip II sealed the deal so I've added it to my crowns of the world collection.
    Obverse: Armored bust of Philip II, legend PHS D G HISP ANG Z REX COMES FLAN 1558 (Philippus dei gratia Hispaniarum Angliae etc rex comes Flandriae -- Philip by the grace of God King of Spain and England, Count of Flanders)
    Reverse: Crowned coat of arms of Philip II over the Burgundian cross, golden fleece below between a pair fire irons* emitting sparks, legend  DOMINVS MICHI ADIVTOR (dominus michi adivtor -- Lord my helper)
    *Jean Elsen catalog listings consistently call these "vuurijzers" which translates to fire irons, the iron implement struck by flint to start a fire. 
    ~jack

    edited: to correct the translation of vuurijzers
  14. jgenn
    1762 Eight Reales from the Old World and New World
    I have a batch of 8 reales in for grading so while I wait on the results, I thought I would journal about the one that I find the most interesting, a 1762 Spanish 8 reales from Madrid.
    In the mid 1700's, the Spanish mints did not turn out many of the larger silver coins. Production of the 8 reales ended in 1736 and did not appear regularly until 1772, with the exception of the 1762 mintage. Charles III ascended to the throne near the end of 1759 and in 1761 made the first change to the Spanish coat of arms since 1700. Most notable is the addition of arms of the Italian houses of Farnese and Medici -- Charles had ruled the Kingdom of Naples and Sicily since 1734. The 8 reales and 8 escudos coins of 1762 feature the new coat of arms on their obverse. This design would not appear again on reales coins and only on the reverse of the escudos starting in 1771.
    The coat of arms that Charles III introduced in 1761 is a testament to the great breadth of Spanish influence in Europe at the time. You can refer to the upper left image in my attached photo as I describe the design. Starting in the upper left and working clockwise we have the arms of Aragon, a former confederation of kingdoms in Eastern Spain and Italy; Aragon-Sicily, a blend of the Hohenstaufen eagle and the ruling Aragonese arms; Austria; Burgundy modern (framed fleurs-de-lis of the House of Valois-Burgundy); the balls of the House of Medici at 3 O'clock; the lion of the Duchy of Brabant (Netherlands); the eagle of Tyrol (Austria/Italy); the lion of Flanders (Belgium); Burgundy ancient (House of Burgundy); and at 9 O'clock, the six fleur-de-lis of the House of Farnese (Italy). In the center are the quartered arms of Castile (castle) and León (lion) with the pomegranate of Granada at the bottom and the three fleur-de-lis of Anjou (France) in the center. The reverse design presents just the arms of Castile and León.
    In my photo composite, I've included my 1762 8 reales from Mexico as a point of reference for the appearance of Spanish coinage minted in the new world. The obverse maintains the abbreviated arms that had been the standard for the milled coinage of the Spanish colonies since 1732. The reverse features a powerful image of global domination, the crowned Pillars of Hercules wrapped with the national motto of Spain "PLUS ULTRA" (further beyond) framing a representation of the old and new worlds floating on the waters between them surmounted by the Spanish crown. The legend "VTRAQUE VNUM" is for the Latin "Ultra Que Unum", "both are one", again asserting the Spanish union of both worlds into one empire. The colonial coins were minted in vaster quantities and traveled much farther than the coins minted in Spain -- it makes sense that they would carry the stronger message.
    The 1762 from Madrid is well struck, nicely toned and seems free of surface abrasions. I'm hoping it grades at least as well as its companion from Mexico.
    ~jack

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  15. jgenn
    I was inspired to look at my collection in a different light.
    When I contemplate my collection, I generally think about dates, types, grades and values; and I visualize linked pairs of obverse and reverse sides. I enjoy learning about the history and personalities associated with the times, places and persons represented by the coins. so they are part of my reflection as well. However, when I saw the photo montage that one of the collectors ATS put together, of the best face of several of his coins, I was inspired to do something similar from my collection.
    Many choices were easy and I found that focusing on the eye appeal of just one face gave me the freedom to make more artistic judgements. I was happy to see that I ended up with a representative date range and good variety of types and countries. They are all world crowns but that is what I collect. Curiously, none are my most costly or highest grades or from my competitive sets. I have known for awhile that I don't greatly care for busts so the fact that none were selected was not a surprise. This was a fun exercise and I think I've gained some insight into what I really value in the coins I collect. Hopefully, this knowledge will guide my future collecting decisions.
    I hope you enjoy viewing my favorite eight faces as much as I enjoyed the process of selecting them.
    ~jack

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  16. jgenn

    Second Chances

    By jgenn,

    The two year wait for the coin that I won.
    In 2013, I told the story about the auction that I participated in where I saw the lot hammer at my pre-bid price. Later, I found out that a floor bidder had the lot reopened, but by then I had stopped watching the on-line feed so I didn't get the opportunity to counter-bid (I would had gone at least one increment higher).
    Now I can tell the rest of the story. That same coin came up for auction in the Rudman Collection of Mexican Coins, Part II. It had never been entered into Isaac Rudman's NGC registry set so I had no idea that he or his agent had successfully lobbied the auctioneer to reopen the lot that I won. The good news is that on the second go-around, I won the lot for a few dollars shy of my pre-bid price from 2013.
    My goal in seeking out this coin was to bring together a nearly complete set of Charles III pillar dollars to complement my portrait collection. I was in second place to Mr. Rudman in that category but I have a few coins in my set that he did not; I was hoping to win enough to improve on his completion ratio. As it turned out, the truly rare varieties got impressive bids. Curiously, several of the scarce overdates hammered for twice what I expected -- and these were all in details grade, too. I guess they looked much better in hand or someone else felt the overwhelming need to fill in those last slots. In the end, I picked up three new examples for my set and one nice upgrade but fell short of my completion goal.
    I fully recognize that the medium grade varieties that I've acquired will be poor investments, however I see more value in making sets like these available for public view. The internet, and sites like the NGC registry, let us publish our own virtual catalogs, giving collectors an alternative to "buying the book". Not that I'm suggesting you don't acquire the key references in your chosen field but some of those classic 8 reales references are out of print and quite expensive!
    Here's the link to my previous post:
    http://coins.www.collectors-society.com/JournalDetail.aspx?JournalEntryID=14583
    And here's my second chance lot (photos by Heritage Auctions)
    ~jack

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  17. jgenn
    'Two kings heads and not worth a crown'
    Yes, this is another post about 8 reales. My last post did not get very many views but maybe that's because it was submerged in a flood of new journals that should have been posted as replies. If this one doesn't get many views, I promise to post on a different subject next time
    Anyway, several 8 reales, stamped with the head of George III by the Bank of England, have shown up on Ebay recently and reminded me that I needed to take some better photos of mine to update my coin in my 'Amazing 8s' custom set.
    At the time they were first circulated, 1797, they were set at a value of four shillings and nine pence, just shy of a crown, thus the phrase 'two kings heads and not worth a crown'.
    One of 8 reales experts at www.coincommunity.com, swamperbob, has described these as '... one of three attempts by the Bank of England to get silver back into circulation during the monetary emergency of the very early 1800s. England was at war and needed money to fight but they also were trying to hold the line on the value of the pound sterling. World silver prices were high so any "full weigh" coins issued would immediately be melted for the silver - so NONE were made. Old worn coins (down to 50% or so) remained in circulation. So the Bank took 8R coins and stamped them to raise their face value above the silver content. These would not be melted.'
    The majority of these coins featured the bust of Charles IV, known more for his interest in hunting than in managing the Spanish Empire, and George III suffered from a form of mental illness later in his reign, so the other common phrase for these coins was 'the head of a fool on the neck of an '.
    My example is from 1783, with the bust of Charles III. I was keen to acquire this one, when I saw it offered on Ebay in early 2011, because it was the best example of a coin from this year that I had seen and I wanted to redeem myself for purchasing one of those overpriced, 'America's first dollar', sea-salvaged 1783s.

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  18. jgenn
    I have a bunch of nice coins but only two slabbed examples so far.
    The ongoing Winter Olympics has inspired me to start organizing my collection of modern commemoratives featuring the sport of fencing. Although fencing is not a winter sport, it is one of five sports which has been featured at every one of the modern Olympic Games. As I mentioned in one of my journals from last year (http://coins.www.collectors-society.com/JournalDetail.aspx?JournalEntryID=14114), I have been assembling a collection of fencing coins from mostly raw examples. The first two in my custom set (http://coins.www.collectors-society.com/wcm/CoinCustomSetView.aspx?s=15290) are from slabbed purchases of coins that I had already collected in raw format.
    The earliest of my fencing coins is from the massive issue from the Royal Canadian Mint commemorating the 1976 Montreal Olympics. The large size of this first major Olympic commemorative issue has had the unfortunate effect of characterizing Olympic commemoratives as having little collecting value. This is certainly true of this run which remains relatively inexpensive. As others have commented on their journals, modern coins are very questionable investments. For me, these are just for fun.
    The coin pictured here is the 1976 Montreal Olympics fencing coin, series 6, number 22, mintage of 1,985,257, with satin finish. I also have an example of the proof finish that I will get slabbed some day. ~jack

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  19. jgenn
    I have an example of this coin as a silver proof but I didn't know they were minted in gold.
    My last journal was about my fencing coin custom set so I wasn't planning on writing about this topic so soon, but I spotted this coin on a German auction site and was very surprised to find out that it even existed. Like nearly all other coins depicting fencing, this is an Olympic commemorative. The historic French mint, Monnaie de Paris, produced silver 1-1/2 euro and gold 10 euro proof coins in 2006 for the 2008 summer games in Beijing. Now I have a gold example to go with the silver one in my collection.
     
    As I mentioned in my other journals, fencing coins are minted by many different countries but it's clearly an appropriate subject for France. The French fencers are no strangers to the Olympic podium, having won over 100 medals. They and the Italians have dominated the sport over the years, though the trend is more evenly distributed in recent times. USA fencers have won several medals in the last three Olympics (and I'm still waiting for the US mint to produce a fencing coin).
     
    The sport of fencing began in France in the 17th century and grew out of the need to learn and practice how to handle a sword for the purpose of dueling. Although dueling was universally outlawed by the early 17th century, it was deeply rooted in European culture and continued to be practiced by the aristocracy, spreading to military officers and higher social classes in more recent times. Being able to defending one's honor was considered a necessity in the days before libel lawsuits. From a business standpoint, your reputation was used to secure a letter of credit -- refusing to defend your honor could be equated to refusing to honor your debts. Pistols became the dueling weapon of choice in the 18th and 19th century before the phenomenon finally died out. However, the last duel with swords, according to Wikipedia, occurred in 1967 between two French politicians.
    This beautiful French 10 euro coin has a obverse design featuring the three fencing weapons; épée, sabre and foil superimposed on a globe pointing to Beijing, denomination over the arctic and date over the antarctic . On the reverse is a nicely executed image of two foil fencers with the Olympic date visible as if stenciled on the back of one of the fencers. The coin is 22mm in diameter and 8.45g of 0.92 fineness gold. Mintage of 1,000.
    ~jack

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  20. jgenn

    The 8 Reales Pinnacle

    By jgenn,

    My Colonial Mexico City 8 Reales Type set captures the top spot -- sort of...
    Last year, I worked at completing the Colonial Mexico City 8 Reales Type Set with the hope that I might get the top spot. This set is eight coins (how appropriate) from the milled 8 Reales series minted in Mexico City during Spanish rule. The years represented by this set, 1732-1821, comprise a significant section of history in the Americas. After all, these coins were the primary specie circulating throughout the Americas and were the preferred currency for trade with the Far East. It was the time of the establishment and expansion of the USA and the end of the Viceroyalty of New Spain and the birth of independence in Central and South America. Within the current NGC boundaries, I believe this type set is the ultimate showcase for 8 reales coins.
    I naively thought I could find nice raw examples to fill in the slots that I don't have covered by my Charles III portrait collection but the NGC graders had different opinions. Not to be dissuaded, I sought and found some decent slabbed coins and finally completed the set only to discover that the preeminent world coin collector, Mr. Rudman, had created several sets from his awesome collection of mint state pillar dollars. I was so many points away from first place it wasn't funny.
    I continued to make small improvements to my set as the opportunity arose. And then, this year, to my surprise, Mr. Rudman made some changes to his Mexico City sets that left me in first place. I wasn't sure if it would last -- I know he has three coins from his pillar dollar collection that would easily pass my best eight coin total -- but I determined to polish my coin descriptions so that I would have a presentable set. Whether it was graciousness on the part of Mr. Rudman or not, I am thankful for the inspiration that it gave me to dress up these eight special coins.
    Please drop by for a visit. I prefer to view short sets and this one fits the bill at only eight.
    http://coins.www.collectors-society.com/registry/coins/SetListing.aspx?PeopleSetID=117382
    Here's a composite picture of the first coin and its comment text:
    "Philip V was the first of the Bourbon kings of Spain, appointed to the head of an empire weakened by war and heavily in debt. Much of the silver from the New World, like this coin, quickly went into the hands of Spain's creditors. I tried to fill the Philip V slot in my Mexico City Type set with a raw coin purchase but gave up after 5 attempts. This was a slabbed purchase from the Stack's Bowers June 2011 Baltimore Auction. Lot #6170. KM-103; FC-16a; El-103; Gil-M-8-16."
    ~jack

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  21. jgenn
    Somehow this coin got rotated almost 180 degrees in its holder.
    I put in some strong bids but was not able to win any coins in several world coin auctions this Fall. For the 8 reales collector, it was a special time because quite a few ultra rare varieties were on the block. A 1733/2-MXF in VF-35 sold for $18,800 in Baltimore and a 1778 MoMF in XF sold for over 14000 euros in Barcelona.
    Last month I was able to take Friday off and visit the Baltimore Show. I enjoyed the dealers room and got some opinions on a few of my ungraded 8 reales. None of the dealers I approached were very interested in the coins that I brought to sell and I didn't find any that I really needed to add to my collection.
    What I did accomplish was to submit two coins to NGC for re-holdering. One coin I knew was going to be handled for free because the label was wrong. That was the Thaler that I bought at the previous Baltimore Show. The holder was terribly scratched so I really wanted the new holder more than the label correction.
    My other coin somehow got rotated almost 180 degrees in its holder. I bought it that way so it was nothing that I did to it. It wasn't loose in the insert and I tried to get it to shift by tapping the case with no luck. Fortunately, the NGC representative accepted it as a free re-holder, too. So the 'fix' is to take it to a show and get NGC to agree to re-holder it for free. The return postage was paid by NGC.
    The coin in question is a 1758 Écu minted in Bordeaux, France. It's part of my growing world silver crown collection. At the time it was minted, France was embroiled in the Seven Years' War, fought in Europe, North America, Central America, the West African coast, India, and the Philippines. In the US we call it the French and Indian War. It had a huge impact in North America when it concluded in 1763 -- France was forced to cede all of its North American territory East of the Mississippi to Great Britain and Spain ceded Florida to Great Britain as well. A few years later the nascent United States of America would claim all of this British territory south of the Great Lakes for its own. In 1803 Napoleon sold the rest of the French Territories to the US with the Louisiana Purchase, ending French colonialism in North America.
    ~jack

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  22. jgenn
    When NGC decides to "Detail" your coins
    Well, my last submission of eight reales coins came home today. I had already seen the grading results online but the disappointment seems to have more impact when you have your box in hand. Slightly less than half got full grades -- my worst submission so far. These were mostly coins from Spanish auctions where I must rely on the pictures and catalog descriptions. I've learned to steer clear of "Rayitas" (scratches) and "Algo limpiar" (cleaned) so none of my detailed coins were described as such. Most were "Surface Hairline" but I also got a details comment that I had not seen before, "Spot Removals". Please understand, I am not knocking Spanish auction houses in general because I've used them before and had much better results. I must accept that some of the coins in this batch were borderline in quality.
    On the positive side, I've been trying to fill my 1781 Mexico 8R slot with a full grade coin and on the fourth try (three raw and one crossover), I finally got a raw coin back from this submission with a nice grade. I've taken a stab at presenting it like some of the impressive photos that others have posted.
    ~Jack

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  23. jgenn
    The challenge -- to build a birth-year set from only silver dollars. The dilemma -- only a few types were minted in 1960.
    My favorite type is the silver dollar, or more precisely, 36-42mm diameter coins, at least 23g, that are 50% or more silver (my definition). Also known as "crowns", these have been popular with collectors through the centuries, boosting the survivability of most varieties, even those with low mintages. The large surface area allows for more design detail and I like the way they fill up a slab. I prefer them so much that I avoid collecting anything smaller.
    In the US, overproduction of silver dollars to satisfy the provisions of the Pittman Act fully stocked the Treasury vaults and halted their production. The subsequent worldwide economic disruptions of the Great Depression and World War II further diminished the demand for large silver denomination coinage. Countries that could afford to issue silver coinage continued but the trend towards non-precious metal coins became widely adopted. The US Treasury continued to release Peace and Morgan dollars until demand finally caught up with supply in 1964. So there are no US silver dollars minted in 1960.
    Fortunately, a few countries were still issuing large silver coins. The Canadian silver dollar is the perfect example. However, to keep this set from being ridiculously small I've pushed the boundaries a bit. One idea was to ignore the century and focus on the year portion of the date. This opens up wonderful opportunities for silver dollar types including the US seated liberty of 1860. I've actively modified my search for interesting world crowns to seek '60s as a priority.
    Another idea was including exonumia. I only found out about So-Called Dollars -- those dollar-sized medals struck to commemorate American themes -- recently, when reading our chat boards. The earliest of these are nearly 200 years old. Naturally, I was excited to find that there were several struck in 1960. The one I picked out nicely fits my requirement.
    I'll conclude this journal entry with a link to my set (http://coins.www.collectors-society.com/WCM/CoinCustomSetView.aspx?s=19493) and a preview of my So-Called Dollar, the Mumey Pony Express Centennial medal, HK-584.
    ~jack

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  24. jgenn
    Beware the counterfeits, unofficial restrikes and modern forgeries!
    It's only natural that the world's most popular coins are the target of fraud. For the 8 reales, this has been a problem for over 200 years. Counterfeits, meaning those struck in the same time frame as the genuine issue, used less silver so that the counterfeiter gained by the difference in precious metal. Unofficial restrikes were produced after the genuine issue, were mostly faithful to design as well as silver content, and intended for bullion trade. The modern forgeries are meant to deceive collectors.
    Dr. John Leonard Riddell, during his appointment as melter and refiner of the New Orleans Mint, cataloged a wide variety of counterfeit 8 reales in "A Monograph of the Silver Dollar: Good and Bad", published in 1845. At the time, 90% of silver dollars circulation in the US were Mexican or the earlier Spanish American issues and he reported that roughtly 1% of these were counterfeits. These can be identified by careful examination of the design details as well as measurement of weight and specific gravity. One of the better known examples of large scale 8 reales counterfeiting was produced in Birmingham, England. The technique of bonding thin silver plating to copper was developed in Sheffield in the mid 1700's and was thereafter adopted to the task of counterfeiting at Birmingham. The initial issue was a tactic in the war with Spain to discredit Spanish bullion. Today, some of these contemporary counterfeits are more valuable than the common genuine issue.
    It was the overwhelming popularity of Spanish silver coins in the Far East, and specifically with China, that drove various nations, including the US, to restrike portrait 8 reales in the late 1800 and early 1900's. This is a controversial topic to some (see my note on source, below). Silver coins of this type commanded a significant premium to other bullion issues, fineness not withstanding. Advanced forms of die copying became available after 1830 with the result that the best of these restrikes have near perfect details, making authentication extremely difficult. The side of the coin that is often ignored, however, can be the key to spotting the fakes. 8 reales coins, as far back as 1732, have employed edge designs; understanding how they were made and the equipment that was used is highly relevant. Because the design was produced using two parallel dies, the telltale sign is the presence of two areas where the edge design overlaps by a small amount, each exactly opposite the other around the circumference of the coin. Many restrikes can be detected because they only show one area of overlap. Other diagnostics are known and the serious 8 reales collector should become familiar with them.
    You can imagine the technical advantages the modern forger has over previous generations. And nowadays, replicas do not need to be made in large quantities to make a profit. Perhaps perfect copies can be made, if not now, then in the near future. The trick becomes how to make them appear to be as old as the genuine issue. Modern technology can assist the authenticator, too. One technique that can be employed is X-ray fluorescence (XRF), a non-destructive surface analysis that can determine the makeup of alloys. Until the invention of the MacArthur-Forrest cyanide leaching process in 1887, significant trace elements, unique to the geology of the mine site, were present in all silver alloys. Thus, the trace amounts of gold and platinum from the mines of Mexico are a diagnostic signature for silver alloys of that place and time. Likewise, modern contaminants should never be present in the genuine alloy.
    If you have an interest in collecting 8 reales, please research the defining characteristics of the various issues. To play it safe, as I mostly have, you can stick to certified coins but remember, a certified coin is not a guarantee of authenticity but only a guarantee of your investment (as far as the TPG's policy defines it).
    My source for this information comes almost exclusively from the posts of Robert Gurney (aka swamperbob) at coincommunity.com. I especially recommend the "1789 8 Reales" http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=142623 thread. He, Gord Nichols and John Lorenzo plan a book on 8 reales counterfeits that will greatly expand on the topics of this post. If this subject really interests you, please visit the "Update on GNL book on Counterfeits - The Good news" http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=177878 thread and express your enthusiasm about getting this information published.
    I'll leave you with a few images of an 8 reales that displays the overlap of the edge design that one would expect to see on a genuine portrait 8 reales from Mexico City.
    ~jack

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  25. jgenn

    This REALLY Bugs Me!

    By jgenn,

    An Ebay seller trying to take advantage of an NGC "clerical error".
    As an 8 reales collector, I frequently browse the Ebay listings for these coins. Several months ago I saw a NGC certified 1783 Mo FM listed. Now, for those in the know, this is the rarest of the series and no graded examples are in NGC's or PCGS's census. The photos clearly show severe seawater damage over the assayers initials. I might admit that the second initial looks more like an "M" than an "F" but it would be easy to fake given the overall damage in the area. It's been relisted several times and is currently listed. Fortunately, nobody has bought it.
    Here are two of the listing's photos. I'm certain it's a clerical error. What do you think?

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