US Quarter Minting Process

 

Shows how the US Mint makes quarters.

The Coin That Fooled an Expert

Back in the 1800s, Dr. Edward Maris had a growing interest in the coinage of the state of New Jersey that had been issued by some coiners a little under a century before. In 1881, he published his second book that he had written. It was titled Historical Sketch of the Coins of New Jersey and had the history of the coppers and then described the different die varieties which had been found on them. Twelve years before he had his book published about the coppers, Maris was looking through the catalog of the September 1869 auction catalog of the collection of Capt. Edward P. Thorn of Plainfield, New Jersey which was being auctioned off by Ebenezer Locke Mason and he noted that on lot 617, there was a 1787 New Jersey Copper. The description of the copper in the catalog was longer than most other descriptions which was unusual and this caught his attention so he decided to take a closer look at it. As he read the description, he got excited! The description said Horse head to the left; might be termed fine for this variety; large planchet sharp and excellent impression the only one of this variety and date that we have ever seen or heard of. He had been collecting the copper coins of the state of New Jersey by all of the different varieties that he had happened to come across, but he had never heard of one dated 1787 whose head was facing left. When the auction of September 6th came along, Dr. Maris had a handful of money and was ready to bid till he won! A bidding battle ensued and when Dr. Maris placed the costly bid of $25 ($567 today), the other bidder finally needed to give up the highly desired lot. After winning the lot for the exorbitant price of $25 (remember- back in that day a dollar had more spending power and there was less collectors which make more demand this could have easily bought a Mint State Libertas Americana medal, for example.) He published in the American Journal of Numismatics (AJN), One of this new variety has never before been offered at public auction, nor has an account of it been published in any periodical or scientific work

Subsequently, Maris sent the coin of to another expert on colonial coins, Sylvester Sage Crosby, to show Crosby Mariss new and wonderful discovery. When the coin arrived, Crosby carefully examined it and then wrote a long letter to send back with the coin. He did not want to send the letter, as he knew it would be extremely sad for Maris to read, but against all of his sorrows, he knew it needed to be done. Because the letter sent to Maris is so long, I will just tell you the main things that the letter said. The most heartbreaking thing that Crosby wrote was that the coppers reverse was in an unaltered state from the dies of what would become Maris 63-q but the obverse had been altered from a copper with a horse head facing right to a horse head facing left. He also stated that the engraving job looked like it had been done by a person (Smith of Ann Street) who had also re-engraved cents of 1793 1795 to make them look like they have a higher grade. Later on in the letter, Crosby also said that he had a cent exactly like it, the head engraved left and with the reverse that would be classified as reverse q, 12 years later. The engraver obviously was smart enough to hunt out coins made by the same reverse die. In the letter, Crosby fortunately gave us a way to tell the two coins apart, Mariss had a larger break on the left side of the shield.

The exact coin that fooled Maris has been identified today because it exists with the latest die state which has a larger break on the left side of the shield. This die state gives us a confirmation on an important coin from the 18th century, a coin that fooled an expert. Source

How Politics Affected Early U.S. Coinage Designs

Very early on in the history of the constitutional United States there were to major political parties, the first of the two was the Democratic-Republicans and the second was the Federalists. The Federalists wanted an effigy of the president on the coins but the Democratic-Republicans wanted an effigy of Liberty with flowing hair. The effigy of Liberty narrowly got approved by three votes, thus making the designs of our earliest United States coins have Liberty with flowing hair. A myth that Washington did not want to be on coins is clearly not the truth, when the first U.S. election came around not a single vote was against Washington. Clearly, if Washington did not want to be on the coinage of the young government his wish would have been granted by far more than the small amount of three votes that made the design show what it showed for many, many years.

In the middle of the 1790s, the mint got a new engraver named Robert Scott to fill in the vital office of engraving the hubs, which in turn would be used to make the dies which would be used for the nations coinage. The engraver, Robert Scott, along with two directors which served during the same time period while he was in office were Federalists which strongly opposed the Democratic-Republicans view.Because the Federalists employed at the mint were strongly opposed to flowing hair being shown on the nations coinage, they quickly changed Lady Libertys portrait and added a hair tie also known as a filet to the back of Libertys hair to keep it from flowing and removed the liberty cap to form a design which would appeal Federalists much better than the earlier designs which had been on the coinage of the U.S. Mint.

In 1793 the United States suspended payments to France on the loan that had been made during and to help fund the American Revolution. France decided to counter this and soon France started seizing United States ships. In 1798 Robert Scott decided to make a stern political statement by placing the arrows in the eagle's left claw of the hubs for silver coinage, the one that the eagle was looking at, stating that America was ready for war. While some people say that this was accidental, Robert Scott paid meticulous attention to detail, so much that there was no way that he could have made such an obvious but yet hidden blunder. Later that year, the United States started the Quasi War against the French and Robert Scott, through the eagle on the reverse of silver coinage surely and clearly expressed what the U.S. was thinking at that time period in regards to France. Several years later, the reverse design was subsequently changed showing a more realistic arrow with the arrows in his right talons and an olive branch in his left representing peace, this design was also by Robert Scott and showed that he clearly understood which position the arrows and olive branch should be in.

Even in the mid twentieth century one can find examples of politically motivated changes on coin designs. Democrat Franklin Roosevelt was placed on the dimes shortly after his death in office. Shortly after his assassination, Democrat John F Kennedy replaced Benjamin Franklin on the half dollar. Not to be outdone by the Democrats, the Republicans placed Dwight D. Eisenhower on the largest coins in circulation at the time, the large dollar coins.

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Basketball Hall of Fame Commemorative Coin Program

 

Basketball legends and U.S. Mint medallic artists discuss the importance of the 2020 Basketball Hall of Fame Commemorative Coin Program, which recognizes the Naismith Memorial Basketball Hall of Fame’s 60th anniversary. This program features the first colorized coins the United States Mint has ever produced.

The Early Large Cents

In 1792, the U.S. passed an act for establishing a mint. Several different patterns were made and most of their origins not clearly understood. The next year, the mint began. They started by making cents and half cents. They started by making chain cents but soon the public began complaining about the design and how disgraceful Liberty looked. Most people still dislike the design to this day. Today these coins command high prices even for low grade examples.

 Soon the U.S. Mint changed the design so that the reverse had a wreath and they modified the obverse design. There are about 11 different varieties but several different ones due to rarity prove elusive to collectors trying to obtain them. One is the strawberry leaf which shows a sprig from a strawberry plant below Liberty. While all show a leaf this one is special because of the strawberry. There are only three known and in the beginning of the 20th century, the wealthy brewer Virgil Brand obtained 2/3 of the existent examples in his massive coin hoard.

The design was not appropriate due to cost saving measures as the design made it difficult to fully strike up so soon they changed the design to the best design in all of U.S. coining history. It showed a representation of lady liberty with a liberty cap. There is several different varieties of this year that are noteworthy. They include the 1794 Starred reverse cent. The fascinating thing about this is 94 stars show up on the reverse. It is unknown why they appear. The other interesting variety is the Jefferson head cent. John Harper, a mechanic invited the U.S. Mint officials to come and see some ways to improve the coinage. He made several dies to use to demonstrate. The methods were viewed and Harper kept the dies. Several years later the mint seized the dies so Harper could not counterfeit the cents. There are two different types. One of them dies not have edge lettering. Harper probably used this in his demonstration for conveniences sake and the other type has edge lettering. After the dies were seized from Harper the mint probably used the dies to make coins because they were not going to waste perfectly useable dies.

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The U.S. Mint at Philadelphia Virtual Tour

Take a virtual tour of circulating coin production at the U.S. Mint at Philadelphia in this fun video. You can also visit the Mint in person to take an in-depth tour and learn more about coins.

 

Here's What Gold Crossing $4,000 is Telling Us About The U.S. Economy

Gold is glittering for investors, with prices now topping a record $4,000 an ounce. But the reasons behind the shiny metal's surge may be less than dazzling, with Wall Street analysts saying it reflects growing unease over the U.S. economy and political stability.

The price of gold has leaped 53% this year alone, far outpacing the 15% gain in the S&P 500 stock index over the same period. The price of an ounce of gold edged higher on Wednesday, touching $4,078, according to financial data company FactSet, with some analysts predicting it to go higher. Gold prices reached a record on Oct. 7 with the precious metal topping $4,000 an ounce. Analysts say investors are turning to gold amid unease about the U.S. economy and political stability.

Investors have long turned to gold during periods of economic turmoil and high inflation, viewing it as both a safe haven when markets turn volatile and a hedge against rising prices. Of late, however, stock prices have steamed to record highs this year, economic growth has accelerated in recent months and inflation this year has remained relatively subdued, prompting questions about what's fueling investors' renewed appetite for gold.

"$4,000 an ounce seemed far-fetched at the start of the year as gold entered 2025 near $2,800 an ounce. But after a ~50% rally, here we are," eToro U.S. investment analyst Bret Kenwell said in an email. The reasons for the surge boil down to several economic and political factors, according to Kenwell and other investment analysts.

Economic uncertainty

Gold is often a refuge for investors when they're worried about the economy, and the ongoing U.S. government shutdown is only fueling their anxieties, according to Nigel Green, CEO of investment firm deVere Group. "The situation in Washington has reminded investors that political promises do not equate to financial security. Gold represents protection from that uncertainty, but its price now also reflects how much faith has drained from other assets. That level of dependence always carries risk," Green said in an email.

Although the economy continues to expand, investors are also expressing concern about potential headwinds to growth, including the impact of U.S. tariffs and a weakening job market, according to economists. Federal agencies currently aren't releasing economic data due to the government shutdown, now in its second week. That makes it more difficult to get a handle on the state of the economy, said Kevin Ford, FX and macro strategist at Convera.

"The US economy remains a challenge to read due to the ongoing government shutdown, which has severely diminished visibility," Ford noted. "However, the shutdown is a material headwind: S&P Global Ratings estimates it could trim GDP growth by 0.1−0.2 percentage point for every week the government remains closed."

Fed rate cuts

In September, the Federal Reserve lowered its benchmark interest rate for the first time since late 2024 and signaled that two more cuts could be in the cards later this year. 

Gold has risen partly due to investor expectations that the Fed is entering a cycle of easing its monetary policy, according to Bart Melek, head of commodity strategy at TD Securities. With interest rates seemingly heading lower, gold is more attractive as a financial asset because investors aren't losing out on higher yields from Treasuries and other government bonds, he told investors in a report. And with inflation drifting up due to the impact of the Trump administration's tariffs, gold can also continue to offer an inflation hedge. 

Gold "may be a better safe-haven than Treasuries," Melek wrote. "Add to that the fact that ore grades are dropping, the increased use of these factors of production suggests that gold would be better at protecting purchasing power."

Global gold demand

Investments in gold have also been driven by other factors. Analysts point to strong gold demand from central banks around the world amid heightened geopolitical tensions, such as the ongoing wars in Gaza and Ukraine. "The gold rally started in 2022," Giovanni Staunovo, commodity analyst at UBS Global Wealth Management, said via email on Tuesday. The "trigger point" for the increase was when the U.S. and other Western allies moved to freeze around $300 billion of Russian foreign holdings at the beginning of the war in Ukraine, he added.

Central banks in other nations are "the quiet force behind this climb," deVere's Green said. "They are buying close to one thousand [tons] of gold each year to reduce exposure to the dollar and to reinforce their financial resilience. When official institutions keep accumulating at this rate, they create a strong foundation beneath the market, but even that has limits."

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Money Talks - Small but Mighty: The History of the Mercury Dime

 

Discover the history of the Mercury dime in this in-depth presentation, starting with Teddy Roosevelt’s efforts to revitalize U.S. coinage by appointing Augustus Saint-Gaudens. Learn about the iconic 1916 Mercury dime, the challenges faced during its design, minting, and distribution, as well as key dates, rarities, counterfeits, and grading insights. 

Are You Breaking These Hidden Rules at Coin Shows?

 

Planning to attend a coin show? Learn the essential coin show etiquette every collector needs to know! We’ll share insider tips on how to talk to dealers, handle coins safely, negotiate respectfully, and spot the best deals without breaking etiquette. Perfect for beginner coin collectors and seasoned numismatists alike—watch before your next coin show to make the most of your time, money, and connections!

What is Edge Lettering on Coins?

Edge lettering is a technique that involves placing letters or symbols on the edge of a coin rather than on its obverse (front) or reverse (back). Edge lettering on coins can function as an extra security measure or an aesthetic or stylistic choice. Examples of modern U.S. coins that include edge lettering are Presidential Dollars which have inscriptions such as the date, mint mark, and mottos, "E PLURIBUS UNUM" and "IN GOD WE TRUST," adorning their edges.

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Did the U.S. Mint Make Three Cent Coins?

Yes, the U.S. Mint produced three-cent coins in two distinct varieties: the Three-Cent Silver (1851-1873) and the Three-Cent Nickel (1865-1889). The three-cent coin was first introduced in 1851 as an answer to postage rates decreasing from five cents to three and the need for a small-denomination coin that could be easily exchanged for foreign coins accepted in the U.S. at the time. Three Cent Silver coins were produced from 1851 to 1873, while Three Cent coins composed of nickel were produced from 1865 to 1889.

The fascinating history of these coins reveals their practical origins and wartime adaptations. The 3-Cent silver piece was initially produced with low-grade silver content, though it was increased to 90% silver in 1854. Meanwhile, Three-piece Nickels were issued to help mitigate the hoarding of silver coins during the American Civil War.

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