Letters to the Editor: Nov. 29, 2022
TV Coin Salesman an Informative Shyster
I recently watched a coin dealer on a cable news television channel. He went to great lengths showing old file films from the 1930s in reference to the Great Depression: mass unemployment, the soup lines/kitchens, the closure of myriad banks, and how American citizens had to relinquish their gold holdings, etc. His somewhat lengthy presentation was very articulate, highly informative and accurate.
The “hook” was the offering up of a number of 1899-P $20 Liberty Head gold coins, all of which were graded MS-62 by Numismatic Guaranty Company (NGC) and Professional Coin Grading Service (PCGS). He explained, in great detail, how innumerable $20 gold pieces had once been shipped to European banks where they had reposed for many years before making their way back to the United States. He accurately went on to say that the number of Mint State 1899-P Liberty Head $20 gold coins were far less available than other common dates such as the 1904.
Well, wouldn’t you know it? It just so happened that his numismatic firm had the good fortune to acquire a number of NGC and PCGS MS-62 $20 gold “Libs” at a very good price, which resulted in his being in an enviable position to offer the coins more cheaply by passing the firm’s acquisition savings onto the customers. I could hardly wait to see/hear what the coins were going to be offered for?
Voilà, for the equitable sum of “only $3,220,” each, callers could acquire “these beautiful MS-62 graded gold coins,” but they had better “hurry” because they will “be selling fast!” The company would even allow buyers to purchase the coin(s) on a two-payment layaway plan, $1,610 down and the remaining amount to be paid at a later date. Wow, what a fantastic deal, Except, 1899-P $20 gold “Libs” (PCGS-certified) can be purchased from other reputable dealers for as low as only $2,350! Now that’s what I call a real savings, retaining $870 per coin that would have been unconscionably deposited into the account of the shyster television dealer!
As the Latin warning that has been stated so many times before: “Caveat emptor ... let the buyer beware!”
Sam Lukes
Visalia, Calif.
Collecting Coins, Paper Money Gives Purpose
I’m just getting into the hobby of checking my coins and paper money for errors. I’m 51 years old and can’t understand how or why I never knew about any of this. I was recently at work at a convenience store when I saw my first star note and thought, why does this dollar bill have a star at the end of its serial number? When I got home and started inquiring about it online, I saw there was a whole other world out there not just with paper money but coins as well. I had already found Canadian and Netherlands coins that people had used for pennies and quarters, then I came across a Bahamas coin. I was so excited! So in a month when I noticed the star note and got online and saw for myself what I’d been missing out on, I started looking for fancy serial numbers and old change as the money came into the store.
In a month, I had found two Canadian pennies, a Netherlands quarter and a Bahamas penny. I also found a $20 bill rare star note, only 640,000 printed with a low serial number 00008420; two $1 star notes with 72,000 being one and the other was 100,000; a $5r bill broken ladder 1-7; and a dollar broken ladder 0-6 with a duplicate 3; plus quite a few other fancy serial numbers. Then I got a $5 Silver Certificate that I never knew anything about either. Had I not done the research on the star note, I would’ve never known about the Silver Certificates and probably wouldn’t have taken it. I would’ve thought it was counterfeit.
I’m so glad I found out about this. It keeps me very busy looking for these since I’m alone now that my kids have grown and moved out. I was so lonesome missing my kids and I was beginning to be depressed with my life, but I can honestly say coin and bill searching has filled a void in me and given me a purpose. I get excited when I get money from the bank to search for errors, varieties, star notes and fancy serial numbers. I can’t wait for my grandkids to get older so I can get them into my new hobby. I’ve already got about $200 in $2 bills as well from the store. Thanks for listening to my story and now hobby.
Kathy Verrett
Houma, La.
Irene Carrillo Eulogy Was a Moving Tribute
I wanted to throw in my 2 cents’ worth and thank wholeheartedly Mr. Turrini for his tribute to Irene Carrillo. I don’t think you need to be nationally known, or be a celebrity, or a sports figure to earn a very sincere tribute in a newspaper or magazine. Please let Michael Turrini know that I thought his article in the Nov. 8 issue of Numismatic News was very well written and it was a heartfelt tribute to a wonderful lady! I didn’t know her, but at the end of the article, it made me feel like I wanted to meet her.
It is people like this, we need to hear about. Great article! Thank you Michael Turrini!
Peter Rishel
Address withheld
