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New organization caters to dealers

How can I join the organization Coin Dealers Helping Coin Dealers?

Georgia coin dealer Robert Oberth founded CDHCD in January 2017. You can contact the organization on Facebook, Instagram, Snapchat and Twitter. You must be able to demonstrate you are a dealer or industry professional in order to join, as it is meant to be a self-help group rather than an organization for collectors.

 

The mint struck 1964-dated silver dollar coins, most or all of which were later melted. Why were these coins produced in the first place?

On Aug. 3, 1964 Congress mandated that 45 million silver dollars be struck. The Denver Mint did strike 316,076 1964-dated Peace silver dollars during early 1965. This was due to congressional authority extending the period into 1965, in which 1964 could appear on silver coins being struck for circulation. The dollars were later melted. The Coinage Act of 1965 banned producing any further silver dollars for five years. The Eisenhower dollar followed in 1971.

 

One symbol was used with Legal Tender Notes, while a different symbol was used with Gold Certificates, while yet another one was used with Silver Certificates, while for later series, a common symbol was used for all types of notes until the 1910s, when all serial numbers were restricted to capital letters and numbers (doing away with special symbols altogether until 1928 or so, when the star symbol started to be used on replacement notes). Neither the Friedberg text nor any other book I have studied has provided an explanation for any specific symbols other than a star. Can you help?

Very little study has been done on this subject. There was no systematic or organized attempt to bring consistency to this aspect of our bank notes prior to the 20th century.

 

Were there ever any hoards of 1856 Flying Eagle cents?

Coin dealer Henry Chapman sold the Leeds Collection in late 1906 with 109 of these coins. Always a popular collectible, 1856 Flying Eagle cents were also known to be accumulated in quantities by George W. Rice and John A. Beck. There are probably other hoards as well.

 

What was the connection between Bowers and Ruddy Galleries and Bowers and Merena Galleries?

Q. David Bowers and James F. Ruddy owned the former business, which was sold to General Mills Inc. in 1974. General Mills sold the business back to Bowers along with Ray Merena during the early 1980s.

I recently heard the new tax law may impact collectibles adversely due to what is called 1031 exchanges. Can you explain what this is and how it would impact coin collecting?

Section 1031 of the U.S. Internal Revenue Code (26 USC 1031) allows taxpayers to defer an otherwise taxable capital gain for certain commodities by rolling the proceeds from the sale of that commodity to another like commodity. While this is a practice often done with real estate, it has been used to defer taxes when buying and selling artwork. I am unaware of it having been used in the purchase and sale of collectible coins.

 

E-mail inquiries only. Do not send letters in the mail. Send to Giedroyc@Bright.net. Because of space limitations, we are unable to publish all questions.

 

This article was originally printed in Numismatic News. >> Subscribe today.

 

More Collecting Resources

• The Standard Catalog of World Coins, 1901-2000 is your guide to images, prices and information on coinage of the 1900s.

• When it comes to specialized world paper money issues, nothing can top the Standard Catalog of World Paper Money, Specialized Issues .

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