Having Fun at a coin show

By Mario Cywinski

Every year the Florida United Numismatists, Inc. (FUN) put on one of largest numismatic shows in North America.

Dealers and collectors from around the continent arrive in sunny Florida to experience the show.

This year's FUN was the largest in its 53- year history, as 600 booths were on hand at the convention.

The show featured everything from an auction put on by Heritage Auctions, a ton and a half of dirt from the Reed Gold Mine, and representatives from the Royal Canadian Mint, the Polish Mint and the Paris Mint.

"The Reed Gold Mine from Midland, North Carolina was in attendance with a ton and a half of dirt from the Reed Mine and three troughs for any attendees who wanted to try their luck panning for gold," said Bob Hurst, President of FUN.

Many Canadian dealers made the trek down to Florida this year, as many do on a yearly basis.

Sales this year were predicted to be slow, but many dealers were pleasantly surprised.

"Sales this year were up 50 per cent over last year and we were very busy both at the table and buying on the floor," said Don Olmstead, founder of Olmstead Currency. "Paper money was very strong. I was expecting a slower show but was pleasantly surprised."

Auction

Heritage Auctions had the second largest auction in numismatic history at the FUN show according to Hurst. He mentioned that they sold over $62 million worth of material.

According to auction results posted on Heritage Auction's web site, only two Canadian coins were sold as part of the auction this year. These were lot 2621 and lot 2622.

The first lot (2621) was an error coin of the 1978 one cent, which was struck on a 1974 Canadian Olympic commemorative silver $5 coin.

The error is thought to have had help from a press operator. The lot is rated at AU58 Uncertified and was sold for $2,990 US.

The second lot (2622) is a Canadian one-cent coin in bronze with a die cap, weighing in at 8.8 grams, which is almost twice the weight of a typical penny. The lot sold for $1,725.

Many other coins were also available at the auction, and some brought in some very large sums. Lot 3058, a $2 ½ with no stars MS65 gold coin from 1796 sold for $1,725,000 US.

Lot 3059, another version of the coin, however, with stars, also rated MS65 took in $1,006,250.

On the other end of the spectrum and closer to what many new collectors would be able to afford, an error of the 1978 Eisenhower Dollar with the centre being five per cent off, and rated at MS64, sold for $184.

Interestingly, a set of a series of 1869 Rainbow notes, the only set that is outside of the U.S. government's collection was on display.

"This set is valued at $6.5 million," said Hurst.

February 19 to March 3, 2008 issue of Canadian Coin News