This week’s letters (06/26/12)

First El Yunque quarter spotted at farmers’ market
I’ve been a subscriber for a couple of years now and love your magazine. It’s my first time writing you.
My wife and I shop at a local farmers’ market. The other day, after arriving we were entering into the first building and I spotted a shiny quarter on the pavement in front of the door.
I shouted to my wife, “It’s mine, I saw it first.” It’s a little contest we have when we go out, to see who can find the most money.
I quickly noticed it was an El Yunque national parks quarter, my first one. It got even better: it had a “D” mintmark.
P.S. I won that day: 26 cents to 0 cents.
Tim Ocker
Manheim, Pa.

Marks found on 2012 proof Grover Cleveland coin
I received my 2012 proof coins today and found that the Grover Cleveland for the 24th president had several marks on it like it had been struck with trash on the die.
Two places were to the left of the “G” in Grover, the largest one looks like an egg with the end cut off facing the back of his head and the other is like a “C” closer to the “G”. Then in Cleveland there is a line from the top of the “V” to the top of the “E” and also some inside the top of the “E”, at the top right of the “L” is a “C” shape that is like the top of an umbrella on the right top of the “L.” Another “J” shape under the top of the “D” with the straight part sticking out from the “D.”
The last one other than a few dents is on the nine in 1893, the nine with the part sticking down from the middle of the nine looks like a stickpin.
I haven’t checked my other two single sets but this one was in my proof set. I wonder if others have found the same errors on theirs.
Thank you for a good paper.
Willard Cole
Adair, Okla.

Roll hunting pays off for collector
I recently found something very exciting in an ordinary roll of circulated cents I obtained from my local bank. It does pay to go through them.
Buried in the middle of the roll were not one, not two, but four 1962-P Lincolns in near perfect condition.
Why they were all together in the middle, who knows, but I found them.
It’s like panning for gold and finding a nice nugget for your efforts. I graded them all at MS-65. What a find!
Sometimes I get a little lethargic when going through roll after roll of coins but not any more, not after this.
What a find!
Name withheld
Surprise, Ariz.

First 2012 cent found by Arizona collector
Just received my first 2012-D Lincoln cent today in change.
We live in Surprise, Ariz., a suburb of Phoenix.
Really enjoy NN each week. Keep up the great work!
Chet Chetkauskas
Surprise, Ariz.

Fort Worth coin show helps collector finish set
At the mid-May Texas Numismatic Association coin show in Fort Worth, I was finally able to finish assembling my AU-58 gold type set by buying two $2.50 gold coins.
When I first started to buy gold, I decided that I wanted to buy U.S. coins rather than bullion issues. The $10 Liberty gold in AU condition seemed to be the closest to bullion value as well as being a great looking coin.
After I had bought a few of these $10 gold coins, I decided to buy a $20 Liberty gold coin, again in AU condition. I asked my local coin dealer to find me one. I was able to trade 54 silver one ounce bars and rounds for this coin.
After that, I decided to buy the entire short type set in AU-58. The Saint-Gaudens $20 was difficult to find in AU condition.
Finally, I found one dealer who had two of them, and I bought what I thought was the nicer of the two. I have not seen any AUs since that time.
The Saint-Gauden’s $10 gold was equally difficult to find. At a small show, to my surprise, I found a dealer with six of these coins. He said that, at one time, he had more than a dozen, but these were all that were left. I found a great example in those that were left. Again, I have not seen any of the AU examples at subsequent shows.
The two $5 gold coins were relatively easy to find.
The two $2.50 gold coins were in short supply at the Texas show. One dealer had two Liberty coins, and I bought the 1861 coin because that was a Civil War issue.
Another dealer at the show had 10 of the $2.50 Indian gold coins for sale. It was nice to be able to pick out a nice coin.
I like the AU-58 coins because you get 98 percent of the details at a reduced price to the uncirculated versions. Since I was able to find coins that were not very dinged up, I was extra happy.
AU58 - All the bling, half the sting.
I have quite a few other coins in AU-58 that, if not for the slight rub ,would be choice to gem coins.
The fun is in the search.
Name withheld

Precious metals waiting to be mined
I can’t believe that the price of gold is $1,500 an ounce. I know demand for precious metals, including silver, nickel and copper, are running high, but there has to be precious metals out there to be mined.
When they are found (if they haven’t been already) then the bottom will fall out.
At one time coin patterns were made with gold, and another rare commodity known as aluminum. When it was discovered that we had plenty of aluminum the price dropped.
In the end, if you spend all of your money on gold and show it to God he’ll look at you and say, “Up here we use that stuff to pave the streets.”
I suspect there is unknown gold out there that someone is sitting on just waiting to make a killing. $1,500 an ounce. Are you crazy? Remember silver in the 1980s?
Wayne Pearson
Union City, Ind.

Solutions offered to question of retiring cent
I’d like to offer two solutions addressing the question of retiring the cent coin.
First, because so many people have hoards of cents at home, the Mint should encourage citizens to recycle them.
Here is how. The Mint should form an alliance with the major retailers in the U.S., Walmart, Kroger, Target, Walgreens etc., to encourage their customers to bring their cent coins and drop them into counting machines.
The customer would receive a gift certificate worth the value of the cent coins plus 10 percent. Any other coins counted would receive face value. The gift certificate could be used in any of the chains stores.
This would generate traffic to the stores and encourage purchases. The stores could place a limit of say $100 per month per person to control exploitation.
The collected coins would be taken to the banks and recycled back to circulation. There would be no cost to the Mint and the only cost to the store would come from the change counting machines and the 10 percent premiums.
This could be promoted as a national program called “have the cents to recycle.”
Second, as an alternative, the Mint could retire the cent and replace it with a half nickel coin worth 2 ½ cents. It would be used freely as both two cent and three cent value with the half cent difference having no real effect.
This reflects the fact that both the cent and nickel are really only used to make change since very few items are priced at one or five cents anymore.
Patrick Bachler
Wilmette Ill.

1944 cent, 2012-P dime found in change
When I go to a convenience store, I put my change into a separate pocket and check it when I get home to see what I might have that’s good.
I keep cents with dates 1981 and before and spend 1983 to date.
I received a 2012-P dime yesterday. Recently, I found a 1944-D wheatie. It’s too cruddy looking to tell “D” over “S,” but I will keep it and have someone else look at it.
Thanks for your “Buzz.”
Chip Furr
Archdale N.C.

2012 American Eagle set highly anticipated
This letter is in regard to the anticipated release of the 2012 two coin American Eagle set.
First of all I am a collector, not a speculator so, irregardless of mintage quantities, I just want to be able to say that I have one., like the 25th anniversary set, which I had to go to the secondary market to get and paid to much for.
I tend to agree with Mr. Jackson that qualities will be up there quite a bit, somewhere around half a million or so. But, oh well. I’ve got one that someday my daughter will sell. Until that fateful day I can say I got one of those and one of those, so there’s no fence sitting here ‘cause I tore it down years ago and I hope to be somewhere around 01 on the odometer.
Michael P. Schmeyer
Halsey Valley, N.Y.

2012 cents showing up at large New York retailers
I am finding 2012 cents in Rochester, N.Y., in the big stores.
Joseph Scofero
Walworth, N.Y.

Mint needs more input from collectors about products
I am not happy the “S” quarter was not included in the roll set I recently purchased.
The Mint needs input from collectors when putting together products.
What’s next? A 5-ounce “S” quarter? They need a collectors’ panel to help the Mint offer common sense products for collectors.
Donald Cantrell
Address withheld

‘In God We Trust’ on edge may affect popularity
I was floored when I received a letter from my wife’s cousin in Alabama on June 1 telling us to refuse the new dollar coins because they are missing “In God We Trust.”
I received the same letter in 2007 when the George Washingtons came out from my aunt in Missouri. I’ve also received letters from a sister-in-law in California, a cousin in Kansas and a friend here in Nebraska only last year.
I got to wondering if this is a factor in the public refusing dollar coins. I was taking my roll of Washingtons back when I discovered “In God We Trust” was on the edge.
I’ve been offering 50 cents for unwanted dollars but so far I haven’t had any takers. Of course the 2009s onward have “in God we trust” under the President’s right shoulder but I’ll buy them also.
Bill Allen
Blue Springs, Neb.

2012 coins found on Bahamas vacation
Please let your readers know that I have located the exact location where the U.S. Mint has shipped all our 2012 coinage. The Bahamas!
During a recent vacation down there, it was not uncommon to recieve 2012 cents, nickels and dimes in change. I did not find any 2012 quarters, but I did receive plenty of 2011 quarters.
In addition, the resort we stayed at had crisp new series 2009 notes for nearly every lower denomination. Unfortunately, I did not find any fancy serials or other collectible notes during my stay.
I have yet to find any coins in my change from the past two years where I live, but a vacation is where I hit the jackpot.
Thanks again for all your commentaries, they are greatly enjoyed.
Joe Ceravone
Charleston, W.Va.

Effect of elimination of cent and dollar on Mint costs
There is a lot of talk about getting rid of the cent and the paper dollar.
Some people say that, if we only eliminate the cent, the Mint’s costs will soar. This is probably true as its production volume will be down but its expenses will remain the same.
If the government would do away with the cent and paper dollar at the same time, some of that cent volume would be replaced with the dollar coin volume, keeping operating costs down.
On a different note, I don’t know how eliminating the paper dollar would influence costs where the Mint prints currency. I have never heard anyone say that not printing dollars would increase costs.
Marc Bricken
Address withheld

New Sacagawea dollars give good first impression
Just a couple lines to let you know I received my first of the new Sac dollars with the house and Indian on the backside. They are beautiful.
Virgil Griffith Jr.
Camden, N.C.

Like Harper, silver habits have changed over years
D.C. Harper’s “Class of ’63” article in the May 29 issue sparked my interest. I, like Harper, bought 100-ounce silver bars years ago. I bought two well under $200 each!
At that time I didn’t have storage space, so I had my mother knit two silver sleeves for them, and they became door stops and were accepted as such by all our visitors.
I have recently removed the knitted “silver sleeves” and have secured them in a safer place.
Great article, D.C.
Kaye Munshower
Wayne, Pa