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March 2007

IMPORTANT ANNOUNCEMENT: TELESPHERE NUMISMATICS WEB SITE IS MOVING!

On March 13, 2007, Telesphere Numismatics entered an agreement to transfer the Internet domain "telesphere.com" to another company. The transfer is to be completed in mid-April 2007. The agreement is exclusively for the rights to telesphere.com and does not involve any other aspects of our business.

We are in the process of moving the Telesphere Numismatics web site from its home of the last 12 years to http://www.telecoins.com

We want to emphasize that Telesphere Numismatics will remain in business and, in fact, in the coming months will be better than ever. This change is simply a matter that, after several months of casual discussions, the other company made a very compelling offer for telesphere.com that was the basis for a deal between the two companies. Every reasonable measure is being taken to make the transition as smooth as possible for our customers, and we anticipate no delays in shipping orders during or after the transition period. From our new Internet domain, we will continue to provide the quality merchandise, competitive pricing and outstanding service coin and paper money collectors have come to expect since 1993.

PRESIDENTIAL DOLLAR COIN ERRORS DISCOVERED

Little more than a month since the first of the dollar coins honoring deceased former Presidents of the United States was released into circulation, several interesting errors have already been discovered. Meanwhile, online auctions have appeared hyping supposed errors which are not.

Legislation for the Presidential Dollar program mandates that the date, mintmark, and the phrases IN GOD WE TRUST and E PLURIBUS UNUM appear on the coin's edge. Both the legitimate and imagined errors have to do with the edge lettering.

The edge of most coins, whether smooth or reeded, is fixed during the minting process by a device known as a collar. Coins are struck under pressure high enough to force metal to flow outward. The collar confines this flow to the intended diameter and texture.

However, the edge lettering of Presidential dollars is applied in a separate process, opening the possibility of entirely new types of minting errors.

Not long after the release date for the George Washington dollar, coins without the edge lettering were reported (these coins bypassed the machinery where the edge lettering is added). The smooth edged coins, which were struck at the Philadelphia Mint, gained quick notoriety including coverage in the mainstream media. Prices jumped into 3 figures, before retreating to the $50 range. Demand has been strong so far, and prices may remain volatile. We hear that most of these coins have been discovered in northern Florida.

Coins with weak edge lettering have also been found, as have coins where the edge lettering was applied more than once.

Recently, a Colorado couple discovered a dollar planchet that is unstruck, save for the inscriptions on its edge. This coin lacks the entire designs of both its faces but has normal edge lettering.

Because it's not difficult to smooth the faces or edge of a coin, it's a good idea to purchase these errors only if certified by one of the major independent grading and authentication services and/or offered by a dealer who knows how to detect such coin alterations and has a reasonable return policy should doubt arise about the coin's authenticity.

Also in the "not really an error" category are Presidential dollars with supposedly upside-down lettering. Which side of the coin is up when the edge lettering is applied is random and therefore neither orientation is rare or an error.

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Telesphere Numismatics

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