A dozen FBI agents staged a raid on the Liberty Dollar's Evansville, Indiana office at 8 a.m. on Wednesday. Nov. 14 and confiscated all of its property and equipmentincluding about two tons of commemorative Ron Paul coins. Liberty Dollar, founded by money architect Bernard von NotHaus in 1998, was created as an alternate "private, voluntary barter currency" to the US dollar........
by Jon Christian Ryter
Plus this interesting snippet ..
Washington Dollar Errors was designed to bring awareness and information to the public about the different errors being produced. There are lots of rumors floating around right now about the 2007 George Washington Presidential $1 coins and hopefully the information on this website will answer some of your questions.
General Information on the Presidential $1 Coin Program: The United States is honoring our Nation�s presidents by issuing $1 circulating coins featuring their images in the order that they served, beginning with Presidents Washington, Adams, Jefferson and Madison in 2007. The United States Mint will mint and issue four Presidential $1 Coins per year, and each will have a reverse design featuring a striking rendition of the Statue of Liberty. These coins will feature larger, more dramatic artwork, as well as edge-incused inscriptions of the year of minting or issuance, "E Pluribus Unum," "In God We Trust" and the mint mark. Although the size, weight and metal composition of the new Presidential $1 Coin will be identical to that of the Sacagawea Golden Dollar, there are several unique features that make this coin distinctive (USMint.com). A Statement from the United States Mint: "The United States Mint has struck more than 300 million George Washington Presidential $1 Coins. We have recently learned that an unspecified quantity of these coins inadvertently left the United States Mint at Philadelphia without edge-lettering on them. It is unknown how many of these coins without inscriptions on the edge have been placed into circulation. The United States Mint understands the importance of the inscriptions �In God We Trust� and �E Pluribus Unum,� as well as the mint mark and year on U.S. coinage. We take this matter seriously. We also consider quality control a high priority. The agency is looking into the matter to determine a possible cause in the manufacturing process. |
No, the Director of Public Relations for the United States Mint has said that there will be no attempt to recall the coins. The Mint is investigating how the error occurred and hopes to solve the problem before further mintages of Presidential Dollars.
Are plain edge Presidential Dollars still being found in Florida?
Yes. I am still getting reports as of this morning. Looking at the map, these reports are coming from rural and out-of-the-way banks. I also had a report Thursday of plain edge coins found in Indiana, which adds a new state to the list, but the reporting person hasn't yet responded about which Mint his coins are from.
Were all of the coins rolled by the F.S. String & Son Company in Pennsylvania?
No. None of them were! F.S. String only makes the wrappers, which they sell to the company who actually does the coin rolling for the Fed.
Who rolled the coins, then? And how does the process work?
The coins are rolled by a company called Coinwrap, Inc. They roll the coins for the Federal Reserve Banks, or "Fed," which pick them up and store them until banks order them. Typically, banks with multiple branches have a central bank that order the coins from their regional Fed. The branches then order the coinage they need from their own central bank facility. The coins are all transported around, of course, by armored car services.
What do the numbers on the $1,000 (40 rolls) boxes mean? The CWI# is the lot number, right?
Wrong. There is no such thing as a "lot number" on these boxes. They are stamped with three pieces of information. (a) The CWI#, (b) the date they were rolled, and (c) an inspector code indicating who inspected the box to make sure all the rolls were wrapped properly and the count was correct. The CWI# stands for the Coinwrap, Inc. location that wrapped the coins. The CWI location number that rolled the plain edge Washington coins found in and around the Tallahassee area is 103. Therefore, the CWI#103 is NOT a lot number, but simply a location number that appears on every single box of coins, of any type, Presidential or otherwise, that leaves that facility.
Why did nearly all of the Philadelphia plain edge dollars end up at one Coinwrap location?
According to top-notch error coin expert and leading error coin dealer Fred Weinberg, the Sacagawea and Presidential Dollars leave the U.S. Mint in huge containers called "ballistic bags," which hold 140,000 dollars in each bag. According to a Coinwrap employee (who requested anonymity because he is not authorized to reveal confidential company information) two of these ballistic bags of dollars are generally allocated to each coin-wrapping station. Therefore, it would seem that one or more of these ballistic bags was somehow filled, totally or partially, with unfinished coins at the Mint. (The edge lettering process is the final step before the Mint fills the ballistic bags for shipment out for individual wrapping.) Some experts believe that a batch of coins simply missed the edge lettering station altogether, but I am still holding to my theory that the Philadelphia plain edge coins were caused by some kind of mis-alignment of the edge lettering segment (as this machine is properly called, according to Eric von Klinger at Coin World magazine.) In my theory, due to mis-alignment of the edge lettering machinery, some of the coins missed the edge lettering segment die altogether, while others got their edges literally sheared off by something in the process, leaving them without edge lettering. I might or might not be correct, remember, this is just my theory.
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