Old coins dropped in kettle likely worthless, dealer says
Arizona Coin Collector
http://www.delawareonline.com/article/20091220/BUSINESS/912200343/1003/rss01
Old coins dropped in kettle likely worthless, dealer says
Salvation Army collection yields 'dollars' from 1799, 1878
By CANDICE EVANS
Gannett News Service
December 20, 2009
SALISBURY, Md. -- Bell ringers recently discovered two
potentially rare coins -- a 1799 Draped Bust, Heraldic
Eagle Dollar and a 1878 Morgan Dollar -- in a Salvation
Army red kettle near Berlin.
Capt. Cameron Henderson, the Salisbury Salvation Army
branch commander, is hopeful that at least one of the
coins will prove to be a hefty donation in this year's
annual kettle campaign. The local branch of the
Salvation Army is attempting to raise $200,000 for
needy families before the fundraiser ends Thursday.
(Story Image - Coins and Capt. Cameron Henderson)
http://www.delawareonline.com/apps/pbcs.dll/section?template=zoom&Site=BL&Date=20091220&Category=BUSINESS&ArtNo=912200343&Ref=AR&Profile=1003
The "generous" donor of either coin is unknown, said
Henderson, who has not yet determined the authenticity
and value of the silver dollars. So far, he has
contacted a couple of out-of-state coin collectors by
phone to find out more information about them.
"We're very excited," Henderson said.
However, coin dealer Gus Tiso, who analyzed a photo of
the coins Tuesday in the Salisbury Daily Times,
remains skeptical of the mystery donation. He says
identifying authentic coins is extremely difficult for
nonexperts.
The U.S. Hobby Protection Act, first enacted in the
early 1970s, requires that replica coins -- a popular
novelty item -- be marked with the word "COPY" on the
surface of the coin, Tiso said.
"The coin has to say 'copy,' otherwise it's illegal,"
said Tiso, the president of G.R. Tiso Numismatics,
who explained that it's a violation of U.S. federal
law to sell unmarked replicas.
Tiso added that there are reports of replica coins
being exported from China without the word "COPY."
Counterfeit coins are often distributed from that
region of the world, he said.
"With today's technology, they are making exceptional
coins -- in some cases, better than our own
government," Tiso said.
Neither of Henderson's coins showed the word "COPY"
visibly printed on the surface.
The 1799 Draped Bust, Heraldic Eagle Dollar has a
woman with flowing hair printed on the front. On
the back, the coin has an eagle in the center and
"United States of America" spelled out along the
border.
According to "The Official Red Book: A Guide Book
of United States Coins 2009" by author R.S.
Yeoman, the Salvation Army's mystery coin is
missing a few key details of the authentic version,
which is worth $2,100-$4,400 in good condition.
A real 1799 silver dollar has the word "Liberty"
on the front. It also has a set of either seven
and six stars or eight and five stars along
the border.
The Salvation Army coin, however, is missing the
word "Liberty" on its face and has a set of eight
and seven stars.
"That's a problem," Tiso said.
"It's like having a car without wheels," he said.
The 1878 Morgan Dollar depicts Lady Liberty with
"E Pluribus Unum" -- meaning, "Out of many,
one -- on the front of the coin. On the other side,
the silver dollar has "Goloid Metric" spelled out
in the center. This proves that it is likely a
trial or experimental piece, which has little to
no value.
"If the coins are copies, they're not worth
anything," Tiso said. "They're nice to look at,
but that's about it."
The Salvation Army is currently collecting donations
from more than 30 kettles at locations throughout
the Lower Shore and from kettle donations online.
The Web site, http://www.onlineredkettle.org , allows
users to create their own kettle and e-mail their
friends and family for donations.
The Salvation Army doesn't release specific figures
until the campaign is finished, Henderson said.
Fundraising is "slightly ahead" of last year's
pace, although it will need to pick up to reach this
year's elevated goal, he said.
And no matter what the outcome of the mystery coins,
Henderson said, they will manage.
"It would be disappointing [if they weren't
valuable]," he said. "But we didn't always have the
coins. All remains to be seen."
..
Duh_OZ
wrote:
<bunch snipped>
> The 1878 Morgan Dollar depicts Lady Liberty with
> "E Pluribus Unum" -- meaning, "Out of many,
> one -- on the front of the coin. On the other side,
> the silver dollar has "Goloid Metric" spelled out
> in the center. This proves that it is likely a
> trial or experimental piece, which has little to
> no value.
>
As to the 1878 Morgan and Goloid Metric, a proof sold for 2,760 so it
could have some value (if real)?
http://www.bowersandmerena.com/auctions/lot_detail.aspx?auctionno=13020&sessionno=1&lotno=390
Frank Provasek
counterfeiters.