(Newport Beach, California) - Professional Coin Grading Service (PCGS) now is recognizing the “up” or “down” orientation of the edge lettering on Presidential Dollars. The different orientation is designated on the encapsulation insert as either Position “A” or “B.”

The company issued a guidance statement on April 24, 2007 about edge-lettered Presidential Dollars submitted for authentication and grading. Edge lettering that reads upside-down when the President’s portrait faces up now is designated as Position A. Edge lettering that reads normally when the President’s portrait faces up is Position B.

“The United States Mint applies edge lettering to the Presidential Dollars in a separate process after the coins are struck by the obverse and reverse dies. Although the orientation of the lettering is expected to be random, the relative rarity of Positions A and B has not been determined. However, neither position is expected to be rare because of the large numbers of Presidential Dollars that have been – and will be - produced,” said Ron Guth President of PCGS, a division of Collectors Universe, Inc. (NASDAQ: CLCT).

In the guidance statement, Guth said the decision by PCGS to recognize the orientation of the edge lettering on Presidential Dollars is based on three important factors.

Demand: The orientation of Presidential Dollars edge lettering is a legitimate variety resulting from the minting process. Collectors have already begun collecting both positions and will continue to do so throughout the duration of the Presidential Dollar program.

Consumer Protection: Alerts have been issued warning collectors that the orientation of the edge lettering on Presidential Dollars is random and is not an error in the minting process. PCGS will recognize the two positions in the PCGS Population Report. This way, consumers easily will be able to see the distribution of grades and populations over the two positions.

Precedent: The recognition of edge lettering variants is rooted in numismatics. In U.S. coins, examples include variants in the edge lettering on 1793 Wreath Cents, 1809 Half Dollars, and others. In world coins, examples include variants of many coins from Belgium (where Position A and Position B have been designated for years).

PCGS now is placing Position A or B designations on all new Presidential Dollar submissions at no extra charge. Collectors who want the designations placed on Presidential Dollars previously certified by PCGS may resubmit their coins under the Designation Review Service for a fee of $10 per coin plus applicable shipping charges.

PCGS guidance is based on the best information available at the time the guidance is developed. At the company’s discretion, PCGS may adjust guidance as new information becomes available.

For additional information, contact Professional Coin Grading Service at (800) 477-8848 or online at www.PCGS.com.

Some may call this unnamed collector crazy for spending a cool one hundred million times the face value of a 1913 nickel. Others envy the ability to drop $5 million on a single purchase that you can’t live in. Whatever your opinion may be, for numismatists, the 1913 Liberty Nickel is one of the most highly sought after and prized coins in United States history.

You have to wonder what the collector is going to do with it. One would assume they’ll want to admire it in their own hands, but they’ll have to be awfully careful with it. Imagine the frustration of accidentally flushing it down the toilet or having it slip through a hole in their pocket. It’s not the kind of thing you can replace you know.

Concerns for its well being aside, here’s the press release.

(Santa Barbara, California) – An unnamed California collector has paid $5 million for the Eliasberg specimen 1913 Liberty Head nickel, a record price for the coin and the second highest price ever paid for any rare coin.

“The new owner is a long-time Southern California resident and a dedicated collector of historic United States rare coins,” said Santa Barbara coin and jewelry merchant, Ronald J. Gillio, who negotiated the sale between the collector and the sellers, Legend Numismatics of Lincroft, New Jersey and Washington state business executive, Bruce Morelan.

Legend and Morelan jointly purchased the coin from New Hampshire dealer, Ed Lee, in May 2005 for a then-record price of $4,150,000. It is graded Proof-66 by Professional Coin Grading Service, and is the finest of the five known 1913 Liberty Head nickels.

Gillio said he talked with the collector about the coin for over three months.

“We spoke many times in recent months about the coin’s legendary numismatic status, and he agreed to purchase it for $5 million,” explained Gillio who recently was named Numismatic Acquisition Coordinator for Spectrum Numismatics International and Bowers and Merena Auctions, and continues his role for Collectors Universe as General Chairman of the Long Beach and Santa Clara Coin, Stamp & Collectibles Expos.

The unnamed collector took possession of the coin at an undisclosed Southern California location on Wednesday, April 25.

In 1913 the United States Mint introduced a new design for nickels depicting a Native American Indian on the front and a bison on the back. However, some nickels were struck dated 1913 using the previous year’s design of a symbolic “Miss Liberty.”

Only five 1913 Liberty Head nickels are known today. Two are in permanent museum collections at The Smithsonian in Washington, DC and the American Numismatic Association Money Museum in Colorado Springs, Colorado.

One of the previous owners of this particular 1913 Liberty Head nickel was renowned Baltimore banker, Louis E. Eliasberg Sr., known to collectors for the extensive, one-of-everything collection he assembled before his death in 1976.

“We’re pleased that this coin now is in the collection of another devoted numismatist. We hope he enjoys it as much as we did,” said Laura Sperber, a partner in Legend Numismatics.

The world’s record price for any rare coin is $7.59 million paid for a 1933 U.S. $20 denomination Double Eagle gold coin in July 2002.

In an article in the Daily Southtown, Joseph Mattera, president of JM Financial Consultants, discusses the issues of coin collecting as an investment.

His answer? I couldn’t tell. He was vague about his opinion on the matter and failed to give a decisive response. He briefly touched on the history of collecting, grading services, numismatics (which is not a type of coin) and then said to contact his assistant for a copy of his retirement brochure.

I’ve already made my case regarding coin collecting as an investment, but I’d like to emphasize that in order to be a successful investor, you need to know about the market, whether that be coins, stocks or otherwise.

1. “Stars in motion” can be found on what silver commemorative dollar?

2. What is a Levant taler?

3. What other date appears on the series 1976 $2 Federal Reserve notes?

4. Is a 1943 bronze cent an example of a planchet, die or striking error?

5. Whom did President Kennedy appoint as Mint Director?

Answers

The Authoritative Reference on Buffalo Nickels by Kevin Flynn has just been released from Zyrus Press. I’ll be reviewing it after I finish reviewing “Standing Liberty Quarters”, which should be within the next few weeks.

Here’s the press release.

(Irvine, CA) – Zyrus Press is proud to present The Authoritative Reference on Buffalo Nickels by Kevin Flynn – a must-have guide book for collectors of Buffalo nickels and die variety buffs.

This book features the most up-to-date die varieties, including new findings and de-listed specimen on Doubled dies, Over Mintmarks, Repunched Mintmarks, and 3 ¹⁄₂ Legged varieties. Complete with high-resolution close-up images on every variety and Kevin’s personal collecting tips and insights, this book is perfect for variety hunters.

The Authoritative Reference on Buffalo Nickels is now available for immediate delivery. Order today by phone (888) 622-7823, fax (800) 215-9694, by mail at PO Box 17810 Irvine, CA 92623, or your local coin shop today.