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William T. Gibbs

Bill’s Corner

William T. Gibbs

William was appointed the managing editor effective May 1, 2015. He joined the Coin World editorial staff in 1976 as an assistant editor for "Collectors' Clearinghouse" and later became a senior staff writer before being appointed news editor. As managing editor, he manages the day-to-day editorial operations for Coin World, both print and online, and leads the editorial staff. He also serves as chief copy editor for all Coin World publications, including for all books published by Coin World since 1985. He has been project editor of mulitple editions of the Coin World Almanac. Bill began collecting coins at the age of 10 and soon discovered Coin World. As a teen interested in numismatics and journalism, he identified a writing position on the staff of Coin World as a dream job, which was realized shortly after he graduated from Bowling Green State University with a major in journalism. He collects store cards and medals depicting Adm. George Dewey of Spanish-American War fame.

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Archive for 'February 2016'

    Great rarities can be found in odd places, but do your research first

    February 12, 2016 2:35 PM by
    What should a collector do when he or she finds an online auction of high-powered numismatic material offered by a business whose name is unfamiliar?

    That question arose after a recent telephone call from a reader who believed that he had identified a fraudulent online coin auction by a firm whose name was unfamiliar to him (and to Coin World). We’ll return to that call in a bit.

    Smaller auction firms who generally conduct sales of other materials sometimes offer numismatic gems. Arthur L. Friedberg, who reports on paper money news for Coin World, reported in 2015 on an auction by Duane Merrill & Company, a long-established firm that bills itself as Vermont’s largest auction house since 1967. Duane Merrill does not often offer great numismatic rarities, but its April 18, 2015, auction offered a sleeper — what astute bidders recognized as the first-known example of a Series 1902 Red Seal national bank note from the First National Bank of Ely (Nevada). The $5 note was offered in the auction with a starting bid of $1,000 and a $2,000 to $5,000 estimate, not unreasonable amounts for similar though common national bank notes.

    This note, however, was anything but common, and when the auction was over, the note had realized $120,750. The winning bidder got a great unique note, the elderly consignors realized much more than they expected from their consignment of mostly New England paintings, and the auction house benefitted from bidder fees that were well beyond what they had anticipated. This was the perfect example of why collectors should sometimes seek out gems in unusual places.

    However, it also pays to be wary of auctions by firms who offer little or no history of selling rare and valuable numismatic material, which brings us back to the phone call.

    He had been searching online when he came across an auction that seemed too good to be true. The collector was wary because, he explained, he had been defrauded several years ago in a similar auction. 

    He spent several days researching the coins in the online auction and eventually found some of the same coins (as shown by the serial numbers on the third-party grading service slabs housing them) offered at fixed prices by a longtime Coin World advertiser. He contacted that firm and learned that other collectors had also contacted its owners, all telling our advertiser that it appeared that the auction firm claiming to offer the coins had misappropriated the images from the actual owner’s website. 

    Coin World, too, contacted its longtime advertiser, and representatives confirmed they were aware of the misuse of their images and were working to have the auction taken down

    Collectors can protect themselves in similar situations by doing their research before bidding. In the April 2015 Duane Merrill sale, bidders confirmed the legitimacy of the note and brought a previously unknown issue into the numismatic marketplace. And the recent caller to Coin World and others did their research and may have prevented other collectors from being defrauded.
    “Knowledge is power” is a cliche, but in these cases, the cliche was accurate.

    Open design competitions always exciting for the public and hobby

    February 4, 2016 4:34 PM by
    The United States Mint is ready to kick off the open design competition for the 2018 World War I American Veterans Centennial commemorative silver dollar program, and that is exciting news.

    Open coinage design competitions are fun. It is always exciting to see members of the public interpret themes for the nation’s coinage and generate designs. And while the U.S. Mint’s designers at the Philadelphia Mint are a talented bunch, as are those in the Mint’s Artistic Infusion Program, it is nice to give new artists an opportunity to let their creative juices flow. Just ask Cassie McFarland.

    McFarland was the winning artist in the Mint’s last open design competition, this for the 2014 Baseball Hall of Fame commemorative coin program. She submitted the winning baseball glove obverse design used on three coins in the program (paired with a baseball design by Donald Everhart II on the reverse).

    McFarland was a 27-year-old figurative oil painter, portraitist and sculptor from San Luis Obispo, Calif., when officials announced that she won the competition. Her design was selected over those submitted by 177 other design hopefuls for the Baseball Hall of Fame program. She went from someone whose artistic talents were mostly known locally and at the university level, to a celebrity who was honored nationally for creating a simple yet stirring design reflecting the joys of “America’s pastime.” 

    The history of coinage design competitions in the United States has been mixed. The first were in the 1890s as the Mint sought replacements for the Seated Liberty design on the dime, quarter dollar, and half dollar. Established artists who had been invited to compete in a limited competition roundly rejected the Mint’s terms. A follow-up competition open to the public attracted designs of unsatisfactory quality, apparently. The Mint’s chief engraver, Charles Barber, stepped in to create the new designs.

    However, the limited competition to replace Barber’s designs a quarter of a century later was spectacularly successful, resulting in some of the most beautiful designs to ever grace silver coinage (by coincidence, celebrating their centennial anniversary in 2016). Subsequent design competitions included those resulting in the Washington quarter dollar in 1932, the Jefferson 5-cent coin in 1938, and the Bicentennial designs of 1975 and 1976.

    Senior Editor Paul Gilkes outlines the design competition’s goals and terms in his article. If you are artistically inclined, read them and then get busy creating.

    The winning designer will have to convey the accomplishments and contributions of American veterans who served during World War I. All of those veterans are now gone, but their sacrifice lives on.

    What will the submitted designs look like? Who will be the next Cassie McFarland to win the design competition for the 2018 commemorative silver dollar? We eagerly await the answers.