Wisconsin State Quarter Mystery

The first coin in our weekly State Quarter Thursdays is one of my more favorite. Few state quarters have captured the spirit of their states quite as well as this one. When you think of Wisconsin, the mind naturally drifts towards corn, cows, and of course, giant wheels of cheese. Apparently the people of Wisconsin agree, since that is what they selected for their coin! Hats off to them.

Of course, there is something else that makes this coin interesting. It had its 15 minutes of fame back in 2004, when it first came out. People began to notice some unusual variations on the ear of corn on the back, which turned out to be quite rare.
There are 3 types: normal, high leaf, and low leaf, shown here magnified for your comparison. Thanks to the good people at coinpage.com for the images!


Take the already popular run of commemorative state quarters, add a rare variation, and sprinkle on some mystery as to whether the change was intentional or not, and you have an ebay sensation. According to the wikipedia, one of these coins sold for more than $2000! It seems like everyone in coins has a different opinion about these little misfits. Some experts write off the extra leaves as damage, not even worth collecting, or at least only marginally more interesting than a regular coin. Others think the mint intentionally changed the design to improve it somehow. Still others think that it is damage, but the fact it looks like extra leaves makes it exciting. And by far the most interesting theory is that a rougue mint employee carved the extra leaves secretly, perhaps in an attempt to stir up the coin collecting community!

Who is correct? Look at the images and decide for yourself, we may never know for sure. While you're thinking about it, maybe check out your pocket change... there might be a high leaf waiting for you!

See you tomorrow!

State Quarter Thursdays

I don't have a lot of time to post today, but I wanted to sneak in an announcement about the state quarters on www.coinsdaily.com All 50 quarters are up, with high quality images thanks to the United States Mint.

Because it is impossible to do justice to the series in one day, and because half of America is collecting them, Thursdays are now going to be known as State Quarter Thursdays. Starting tomorrow, each week a different state quarter will be featured on Thursday.

So tomorrow you can look forward to one of my more favorite state quarters, Wisconsin!

American Gold

Images Provided by bestcrystal08 from ebay, the first coin dealer who agreed to share images with coinsdaily.com

After yesterday's post, perhaps you aren't shocked that the US produced a gold coin. The Gold Eagle, as it was known, was worth $10. In 1914, that would be enough to buy an expensive suit. Today, $10 will buy you lunch, but the 1/2 oz of gold in that coin would be worth $375 ...enough to buy an expensive suit.

I chose this coin because (A) I think it looks pretty cool and (B) its image has a weird twist. At first glance that would appear to be a Native American Indian, but really it isn't. If you compare it to the Peace Silver Dollar that circulated at the same time, the face is identical to lady liberty.

The back is the same, too, just click on the picture to see. As for why the engraver felt the need to put liberty in a headdress, we can only speculate. Perhaps he wanted her to look at home next to the half eagle, which showed a real Native American with a headdress?

Whatever you may think of the design, these coins didn't last very long. The final run was in 1933 and there hasn't been a gold US coin made for circulation since. Even so, they are comparatively affordable. Like most gold coins, the price is linked to the current price of gold. Unless you are looking for a rare date, you can pick up one of these coins for the cost of the gold plus about 50%.

That wraps it up for the $10 gold eagle, but make sure to check back tomorrow for a coin in a more affordable price range.

2 pesos, in gold please!

Yes that's right, Gold. I was surprised too! Right now the peso is only worth about 7 or 8 cents. But back in 1945 the 2 peso coin was made of gold. Admittedly it is a very small coin, smaller than the US dime, weighing in at a staggering 1/20th of an ounce. The gold content today is worth about 32 dollars.

The difference in value is actually much greater than it appears. In 1993 Mexico introduced a new peso (the nuevo peso) worth 1000 of the old pesos. Although they dropped the word nuevo in 1996, all current Mexican money is denominated in nuevos pesos. So the 2 peso gold coin actually has a face value of about .0075 cents!

To collectors, a coin like this is worth about $60 dollars today. Because of its small size, it even finds its way into jewelery.

Well, that's it for today. Tomorrow the coin of the day will be another gold coin, but this one will be American!

Continental Currency

Today's coin isn't really a coin at all, it is a paper note from the beginning of the US. Continental currency, or continentals for short, were printed by the revolutionaries as early as 1775. The emblem on this particular note was designed by Benjamin Franklin, and is remarkably similar to the unfinished pyramid on our $1 bill.
But he's not the only famous historical figure involved, the plates for printing these notes were engraved by Paul Revere!


One of the first things you will notice about this note is its goofy denomination. There hasn't been a $1/3 note in over 200 years! And the other denominations of continentals were just as strange: $1/6, $1/2, $2/3, $1, $2, $3, $4, $5, $6, $7, and $8. There were also higher denomination continentals ranging from $20 to $80 dollars.


Oh and by the way, they aren't really talking about US dollars. They were talking about Spanish milled dollars, or pieces of 8. Hypothetically, if you had a $30 continental note, you could redeem it for 30 spanish silver coins at some future unspecified date.


Of course, if the colonies lost the revolutionary war the notes would be worthless. Also, the revolutionaries never really had the money to back the notes in the first place. If you add to that the fact that the British started pumping out counterfeits by the cartload, you can imagine what happened. The notes were worth far less than their face value, since no one trusted them. There is a famous quote from George Washington where he bemoaned that it took a cartload of continentals to pay for a cartload of supplies! When the government finally allowed them to be redeemed, it was at only 1/1000 of the printed value.



In modern times, as is often the case, the value of the continental has improved. They are not as expensive as one might expect, because they were so plentiful to begin with. A beat up note sells on ebay in the range of $100 to $200 dollars, whereas the really well preserved ones go for thousands. Even the british counterfeits have become valuable.


Thanks to the help of several ebay merchants, I have been able to put together a collection of images of continentals of all denominations and years of issue. Out of the 102 possible combinations, roughly half have images for you to browse. Check it out at CoinsDaily.com


Well, that's all for now, be sure to check back tomorrow for the next Coin of the Day!

CoinsDaily.com is here

Well I have to admit coinsdaily hasn't been very daily. It is 4 months since my last post. But there is a good reason, though; I just published CoinsDaily.com with a directory of more than 200 coins and paper notes. Many thanks to the coin dealers who provided the photos! More coins will be added soon.