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2011 Coin Market Highlights

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To commemorate 2011, we would like to share some of the major highlights that took place in the numismatic industry this year. Please note, the dates of the featured highlights are approximate. If you feel we have overlooked any major milestone events, feel free to share them with us by sending an email to [email protected].

January:
  • The first 5-oz. coins started appearing on the market.
  • Heritage Auctions realized an astonishing $62 million in auction sales at the FUN and the NYINC shows.
  • PCGS introduced the "Coin Sniffer" technology to help detect altered or counterfeit coins.
  • A 1907 $10 Rolled Edge Eagle sold for $2.185 million.
  • Richard A. Peterson was named Deputy Director of the United States Mint.
February:
  • A rare New Jersey copper variety sold on eBay for $105,655.
  • The Prince William and Kate Middleton royal engagement coins were introduced.
  • The U.S. Mint created its own YouTube video account.
  • New import laws were introduced for ancient coins.
  • ANA reported a $1.35 million budget surplus for the first time in nearly a decade.
  • PCGS certified one of only eight known 1795 Reeded Edge cents.
  • Ron Paul called a congressional hearing aimed to audit and take inventory of all of the gold reserves at Fort Knox and Denver.
  • The PCGS Million Dollar Coin Club had 235 coins valued over $500 million.
March:
  • The first 27,000 of the 2010 America-the-Beautiful 5-oz. coins went on sale.
  • The Supreme Court ruled the motto "In God We Trust" will remain imprinted on coins and currency.
  • A 1991 Chinese Panda coin broke the record for the highest price ever paid for a Chinese coin when it sold for an amazing $1.6 million.
  • Two major coin auction companies merged, creating Stack's Bowers Galleries.
  • A new coin auction company, GreatCollections.com, was introduced.
  • A judge ruled in favor of the Government in the 1933 Saint Gaudens ownership dispute.
  • Three new trial-strike Frosted Freedom varieties were discovered in the Proof Platinum Eagle series. One of the coins was said to have traded in the $45,000 range.
  • ANA dismissed Larry Shepherd.
  • PCGS celebrated its 25th anniversary.
  • Bernard Von NotHaus, owner of Liberty Services Inc., was found guilty of making counterfeit coins and the intent to defraud. He sold millions of counterfeit Liberty dollars to collectors.
  • The San Francisco Mint struck Bullion Silver Eagles. This was the first time in over a decade that the San Francisco Mint had struck Uncirculated Silver Eagles.
  • A 2009 Ultra High Relief PCGS MS70 First Strike PL sold for approximately $35,000.
April:
  • An Islamic gold coin sold for $5.29 million.
  • The 1099 Repeal Legislation stopped the $600 IRS reporting requirement.
  • The silver spot price almost broke the record high of $50.35 set in 1980.
May:
  • Legend Numismatics represented Bob R. Simpson and purchased the David Hall collection of $10 Liberty Head gold coins for $4 million.
  • A circa 308 A.D. 8 Aureus gold medallion sold for $1.4 million – the highest price realized for an ancient Roman gold coin.
  • A circa 369-358 B.C. Silver Stater realized a record price for a coin from Thessaly and Pherai when it sold for $781,546.
  • The Mint struck an Uncirculated 2011-S Silver Eagle with an S mintmark for the first time ever.
  • A special 2011-P Reverse Proof Silver Eagle was struck to commemorate the 25th anniversary of the Silver Eagle series.
  • Eric Newman turned 100 on May 25.
  • Two 1975 No S Proof dimes surfaced. One of the two sold for the first time at a public auction, fetching $349,600 – a new record price for a regular-issue modern coin.
  • The Mint flooded the market with silver numismatic offerings. The last time it sold this many silver coins was back in 1936.
  • An 1870-CC $20 Double Eagle last seen 50 years ago resurfaced. It was last sold at a public auction in New York City in 1961.
  • A bill to celebrate the 75th anniversary of the Baseball Hall of Fame was introduced.
June:
  • Billions of unused dollar coins were piled up at Baltimore Reserve Bank, costing tax payers millions of dollars to store.
July:
  • An 11th example of a quarter 25C/$1 mule surfaced.
  • A 1973-S Eisenhower dollar struck on a circulation planchet was discovered.
August:
  • A unique 1855-S $3 gold piece sold for $1,322,500 at a Heritage auction.
  • The pre-ANA and ANA auctions offered more than 16,000 lots realizing more than $71 million in sales.
  • Six coins that had been stolen from the ANA traveling exhibit were mysteriously returned weeks later.
  • The Baldwin's Hong Kong coin auction realized $5.2 million.
September:
  • PCGS Buys Coinflation.com.
  • A Yunnan 1910 Spring Dollar CD with standard dragon design and seven Chinese characters across the top variety, sells for a record $546,250.
  • A new coin fund by Certified Assets Management planned to acquire up to $250 million in rare coins.
  • A U.S. Mint police officer pleads guilty to stealing $2.4 million worth of Presidential Dollar error coins.
  • Three different Chinese coins sold for more than $1 million each, all within a five-month time period.
  • A spokesperson for the U.S. Mint clarified that error coins that leave the U.S. Mint through legitimate means remain legal to own; however, error coins that leave the Mint facility illegally remain government property.
  • A Marcus Junius Brutus Ides of March Silver Denarius sold for $546,250. It was the highest price paid at auction for a Roman silver coin.
  • Legend Numismatics sold a 1794 Flowing Hair U.S. silver dollar for approximately $1.5 million. Legend also purchased the Dakota Collection Type Set for approximately $2.5 million.
  • Throughout the year, the Mint suspended many silver, gold and platinum coins due to the volatile prices of metals.
  • James Bucki took over Susan Headley's editorial position at About.com for coins.
October:
  • The Perth Mint introduced the world's largest gold coin – a one-ton gold kangaroo bullion coin.
November:
  • The Royal Canadian Mint offered $250 million shares of its gold bullion in a public offering. This represented ownership in physical gold bullion held in custody of the RCM.
  • Bullion sales were up even for Mint vendors. Sunshine Minting, Inc. sold $1.25 billion worth of precious metals to the U.S. Mint, doubling the total from 2010.
  • The U.S. Mint contracted a British company to implement a new order management system that will cost up to $100 million in a maximum six-year contract.
  • 100,000 special 25th Anniversary sets sold within the first five hours they became available from the U.S. Mint.
  • A record was set for American Silver Eagle sales. The Mint sold over 36,000,000.
December:
  • A library janitor in Germany discovered a hoard of ancient coins believed to be hidden in the library since 1803. The hoard is estimated to be worth millions of dollars.
  • Littleton Coin Company acquired a hoard of 220,000 Eisenhower dollars that were stored in a Montana bank vault for more than 30 years. The hoard is estimated to be worth about $1 million.
  • The U.S. Mint suspended Presidential Dollar coin production.
  • It would cost a collector a little over $20,000 to obtain an example of every U.S. coin minted in 2011.
  • To end the year, the unique PCGS AU50 1787 Brasher Doubloon with EB initials on the Eagle's Breast, is being sold for $7.39 million – the highest price paid in 2011 for a single coin. It is also the third-highest price ever realized for a single coin.
Who said numismatics wasn't exciting?

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