This week’s letters (01/08/13)

Found two proofs searching roll of halves
I bought a roll of halves today.
I found one Franklin, one 1988 proof and one 1993 proof.
Norbert Rousseau
Address withheld

Mishler’s negative personal comments uncalled for
Clifford Mishler could have chosen the high road in announcing that he would not seek reelection to the ANA Board. Instead he used his announcement as an opportunity to take a low-class, low-blow, cowardly cheap shot at former ANA Governor and Vice President Patty Finner and me.
Not content to say something like “I stepped in in 2007, when things were out of control and the ANA’s future was in serious jeopardy, helped get the ANA back on solid footing, and am now content to leave the Board knowing it’s in good hands,” he chose instead to slam people who worked diligently to restore the integrity and fiscal health of the ANA and make people like him look good in the process.
There was absolutely no benefit to be gained by making ugly and disparaging public comments toward Ms. Finner, an opponent he defeated more than three years ago, and who has served the ANA community through countless hours of service. He makes a malicious and defamatory statement about me, despite the fact he has never had the fortitude to meet with me, or talk to me, and give me an opportunity to defend myself against false rumors and fabricated allegations.
Mr. Mishler’s shameful attempt to build himself up, by belittling others, says more about his character and does more damage to him, and the ANA, than to Patty Finner or me.
Larry Shepherd
Colorado Springs, Colo.

Not a fan of Lincoln cent Shield reverse design
From all the new, shiny (and not so shiny) Lincoln Shield pennies I’ve been getting lately from bank coin rolls (as well as loose change from shopping.) I’d think I would get used to the design; I haven’t. I have gotten used to the possibility of new errors; one has recently been discovered..And who doesn’t like the most recent coin error discovery?
I think the Shield design has already become blase and the Mint should have made it a special “one year only” design like the Lincoln Memorials of 2009. In the long run, it would have made the design a far more desirable coin for collectors, both the beginner as we’ll as the seasoned, and regardless of mintage would have been an instant classic in numismatic history.
David Rogers
Ship Bottom, N.J.

Look for information on Jeffcoat, Iacova
I was cleaning out some of my old issues of NN when I found that I had marked a page where you discuss Arnold Jeffcoat. I used to subscribe to his “Jeffcoat Report” investment newsletter.
I renewed my subscription when he moved from Iola, but never received any or few issues after that. Can you fill me in on what happened to him? Also, Jim Iacova was another dealer/newsletter author that I lost track of and wondered what happened to him. If you could enlighten me about either of the gentlemen, I would greatly appreciate it. Are they alive or have they passed? If so, when and where?
Thank you and I do enjoy reading the NN and all of the opinions/reactions/comments that it delivers.
Doug Jennings
Address withheld

Editor’s note: Arnold Jeffcoat died in 2008. We have no information about Mr. Iacova.

Tossed into Macy’s fountain, cent carries wish
Perhaps my best ever shopping day downtown. Stopped at the coin shop and got an MS 1962-D cent. I tossed it into the fountain at Macy’s and made a wish.
Ginger Rapsus
Chicago, Ill.

Cheaper cent? Youngman would go for cardboard
In response to Byron Wood’s letter to the editor in the Dec. 18 issue of NN, the answer, all joking aside, could be summed up in a Henny Youngman one liner. The only way to make cents cheaper would be to “make them out of cardboard.” Even then the price of making this change would additionally cost taxpayers gazillions!
Ron Feuer
Charlotte, N.C.

If not for tell-tale signs, fake dollars convincing
Watch out for fake Morgans and Peace dollars.
The specimens grade VF to AU. They are the right color and would not be suspect of being counterfeit when mixed with a group of middle grade Morgans.
The people who made these are not too smart. One of the phony Morgans was 1887 with a “CC” mintmark. Someone went through the trouble of counterfeiting an 1887-CC Morgan silver dollar in AU-50 condition?
Kind of dumb to counterfeit a coin that does not exist.
Using a magnet detected these coins as not being silver. Always carry a little pocket magnet.
Without the magnet and wrong mintmark, these coins are very convincing as being the real thing, and I have looked at thousands of Morgan dollars.
Name withheld

1964 Chet Krause book turns up at flea market
I received the 60th Anniversary issue of NN at the end of October and really enjoyed reading all the different articles from the readers.
That same day I went to work at the big flea market here in NE Ohio and one of the vendors called me over and showed me a book he had for sale. It was The What, When and Why of U.S. Coins by Chet Krause dated 1964.
His $1 price tag was right, which was the original price, and the condition was XF, so I quickly accepted his price and went home with a book to add to my collection of coin books.
Dick Weber
Columbiana, Ohio

Collectors shouldn’t have to pay extra for dollar coins
I had written earlier about not finding any 2012 pennies in circulation – the pennies started to appear towards the last of October, but there still aren’t any other 2012 coins that I’ve found. No nickels, dimes, quarters, etc.
And nothing good to say about the Presidential dollars.
The nonsense about this has caused my collection to come to an abrupt stop. The powers that be said that I could no longer get the new issues from the bank at face value, but instead must order them from the Mint or get them from a dealer. Fat chance! I can’t afford to do this, and I also won’t, and neither can my children. What good is a partial collection?
If their intention was to discourage coin collecting for the average person or young people, they certainly did a good job.
Therefore, I intend to slowly use my half-collection of dollars for shopping. To force us to pay extra for our money is ridiculous.
Julia Hyll
Honor, Mich.

Cent finds kept getting better over one week’s time
I’ve been sorting and saving pre-1982 cents for almost seven years now. About 20-30 percent of the cents are copper. I have amassed about 200,000 copper cents. I have examined about 1 million cents.
In that time I have found about 5,000-6,000 wheat backs. Once I was lucky enough to get 2-1/2 rolls of wheats.
About two weeks ago I got $15 worth of cents, and wow! Eight rolls were wheats. A few days before two rolls I looked through had 31 wheats and a third roll had 18. Four-hundred eighty wheat in a few days.
The bonanza was yet to come. I got $20 worth at a different bank and all 40 rolls were wheats. The next day I got another $20 and five rolls wrapped the same were wheats.
All in all, 3,000 wheats in a week is some haul. I can only hope I’ll get as lucky again.
Unbelievable how many dimes I have found in cent rolls. I also have a couple thousand Canadian cents, especially an Extra Fine 1922. I’ve found five 1909s and many errors, two of which I found in the same week. Good hunting.
Tom Magielnicki
Helmetta, N.J.

Bullish climate supports higher prices for metals
Ross Hansen states in the Nov. 27 article, “Who is playing bullion game?” that recently the best way to sell bullion was with “fear and greed” and that we’re in a quiet period for the precious metals. What Mr. Hansen fails to mention in his analysis is looming trillion dollar deficits, the Social Security meltdown and world political uncertainties in 2013.
As a purveyor of millions of dollars of precious metals and collector coins before my questionable federal conviction in 2004, it’s my opinion that the near-term trading range for silver will be $50 to $75 and gold $2,000-plus, and the public should be heavy buyers of bullion and collector coins at today’s levels. It’s not fear and greed, but steady profits for dealers and investors for the last 10 years, with a lot more just around the corner.
Robert Mertens
Pekin, Ill.