MrEureka is in very deep trouble!

MrEureka · October 27, 2003 9:52AM

Just saw this article online:

Auctioned one-of-a-kind coins a loss to Canadian collectors

ROBERT AARON COINS
SPECIAL TO THE STAR HOBBIES

In one of the most controversial moves in its 95-year history, the Royal Canadian Mint struck two one-of-a-kind coins to generate money for a couple of Queen Elizabeth's official Canadian charities.

Both coins feature the new effigy of the Queen on the obverse. The first of the two coins features the 2003 silver dollar voyageur canoe design on the reverse and the other features the 2002 Silver Dollar Jubilee design. The coins were auctioned separately.

Using eBay, an American-owned online auction house, the Humane Society of Canada received $62,600 and Save the Children Canada received $55,100.01 from the sale of the two gold coins. The 10-day auction closed late last month.

This is the first time that the Canadian mint has minted single-strike coins, and it opens the door to future single-strike issues for wealthy collectors. The beneficiary of future sales might well be the mint rather than worthy charities.

Another problem with the sale is that the buyer was Andy Lustig, an American coin dealer. These two numismatic curios now travel south of the border, and are lost to Canadians. Since only one of each coin was minted, the Bank of Canada numismatic collection will never be able to have a complete collection of Canadian coins.

All in all, it's a loss to the fabric of the coin hobby in this country and sets a dangerous precedent for the future. Canadian coins should be minted in sufficient quantities so that every collector who wants one and is willing to pay the price can purchase one.

Single-strike issues are elitist and tarnish the mint's image as a producer of coins for the Canadian public at large.

It would have been far more meaningful for the mint to donate $1 from the sale of 117,000 coins and give that money to the two charities — but then the donation might not have made the same publicity splash.

The blame for this idea falls on the shoulders of David Dingwall, former Liberal politico and now CEO of the Royal Canadian Mint. Hopefully, he won't do it again.

ClausUrch · October 27, 2003 9:57AM

You, Sir, are an elitist!!!!

spinaker2000 · October 27, 2003 9:58AM

Hey Andy, we've been talking about you all day!!

trouble

historygeek · October 27, 2003 10:00AM

So... Mr Eureka bought one of those coins?

spinaker2000 · October 27, 2003 10:05AM

Both.

historygeek · October 27, 2003 10:19AM

Write a rebuttal to the article, say something about the purpose of manufacture of the coins was to help charity and so on.

Blackhawk · October 27, 2003 10:26AM

Good Grief...no good deed goes unpunished.

MrEureka · October 27, 2003 10:40AM

Good Grief...no good deed goes unpunished.

Free publicity should be the worst punishment I suffer!

GDJMSP · October 27, 2003 11:26AM

Andy - you could always donate the coins to the Bank of Canada collection. Be one helluva tax write-off. And just think of the publicity THAT would generate

coinkat · October 27, 2003 11:33AM

Askari · October 27, 2003 12:43PM

I have already come to Andy's defense ... worthless, jingoistic scoundrel that he is.

We'll see if the Toronto Star dares publish it.

Bochiman · October 27, 2003 1:17PM

Rebuttal should also go in the Numismatic News or some other such hobby-type-zine.

I don't venture to World and Ancients often, but, I enjoyed reading these threads today! I hope I don't miss updates on them.

Ron

Clankeye · October 27, 2003 2:22PM

Was this thread started by Andy Lustig (curls lip in disgust)... American Coin dealer?

I shant post to it. It's tainted.

Clankeye

wybrit · October 27, 2003 9:39PM

These two numismatic curios now travel south of the border, and are lost to Canadians.

I'm surprised they don't enact a "Treasure Trove" law like they have in the UK.

Askari · October 28, 2003 2:27AM

Well, the Star appears not to have printed my letter to the editor, although I imagine it's possible it could appear later this week. Anyway, for the reading pleasure of the Forum members, here's my defense of that unworthy Yankee running-dog:

<< <i>Dear Sirs:

I have to say I, an American with many Canadian friends, was quite dismayed at the jingoistic tone of Mr. Robert Aaron's "Special to the Star" article of Oct. 27th entitled "Auctioned one-of-a-kind coins a loss to Canadian collectors." As he frames it, "another problem with the sale" was that the buyer, Andy Lustig, an American coin dealer, contributed more to the Humane Society of Canada and Save the Children Canada than a Canadian collector or dealer was willing to. And, oh, "the Bank of Canada numismatic collection will never be able to have a complete collection of Canadian coins" and "it's a loss to the fabric of the coin hobby in this country and sets a dangerous precedent for the future."

Get real!! This is a hobby for heaven's sake!!! And never say "never," for as the author notes, Mr. Lustig is a dealer - a buyer and seller of coins. Andy Lustig is a good friend of mine and I know him to be a kind and generous person. What he plans to do with those coins I do not know, but should the Bank of Canada or some benefactor of same were to approach him about enquiring of his willingness to sell them, I seriously doubt that he would summarily show them his door.

As a collector who has spent many years encouraging American collectors to explore the beauty and history of other nations' coinage and currency, I'm delighted that Mr. Lustig and other Americans are buying and collecting Canadian coins, rare and common. Since the Bank of Canada produces some of the most admired numismatic offerings of any nation among world coin collectors, it's more a tribute to Canadian artistry and quality. And if, as a result, it helps educate a "geography-challenged" Yank about how to find Canada on the map, well, so much the better, eh?

Mark A. Kaiser

Arlington, Texas >>

newbiecollector · October 28, 2003 2:30AM

shirohniichan · October 28, 2003 2:33AM

Um... did you mean "Royal Canadian Mint" instead of "Bank of Canada"?

1jester · October 28, 2003 2:35AM

Yeah, it helps us find Canada on the map....

LOL!

Bochiman · October 28, 2003 2:58AM

No, going from the article (I don't know Canada's numismatic organization that well, so I would just go by what was in the article too) here is what was put:

These two numismatic curios now travel south of the border, and are lost to Canadians. Since only one of each coin was minted, the Bank of Canada numismatic collection will never be able to have a complete collection of Canadian coins.

<< <i>Um... did you mean "Royal Canadian Mint" instead of "Bank of Canada"?

>>

shirohniichan · October 28, 2003 3:16AM

I was referring to Askari's letter to the editor.

Since the Bank of Canada produces some of the most admired numismatic offerings of any nation among world coin collectors, it's more a tribute to Canadian artistry and quality.

Bochiman · October 28, 2003 4:07AM

Ah, you are right...I missed that part.

wallstreetman · October 28, 2003 5:00AM

Andy, how much was your client willing to pay? I knew this was going to happen, they hardly even advertized the fact, it didnt even come out in Coin World until afterwards! Im jealous! I knew I should have taken out a loan!

Askari · October 28, 2003 7:43AM

Hey, that's what Mr. Aaron wrote and he's the Star's expert ... who am I to argue with the expert?

Clankeye · October 28, 2003 7:47AM

A fine letter, Askari. I would certainly give them a few more days. I hope they do print it.

Carl

chuckfarthing · October 28, 2003 8:09AM

Just mail Mr. Aaron this link.

Askari · October 28, 2003 10:39AM

LOL!!

I think I'll leave that honor to MrEureka.

shirohniichan · October 28, 2003 10:44AM

<< <i>Andy, how much was your client willing to pay? I knew this was going to happen, they hardly even advertized the fact, it didnt even come out in Coin World until afterwards! Im jealous! I knew I should have taken out a loan! >>

Sorry, WSM-- you're not Canadian enough.

canadiancoinguy · October 28, 2003 4:15PM

I don't usually like getting into political stuff, but long story short:

The public school system in Canada IMO seems to be heavy on teaching left wing politics and anti-Americanism. Or at least there's alot of teachers who teach that way, directly or not. The odds of that letter being published (as much truth as it contains) is next to nil, especially since it's from a Texan.

SYRACUSIAN · October 29, 2003 4:42PM

<< <i>especially since it's from a Texan >>

I agree

Other than that,it's a fine letter Askari,but I wonder whose tone was jingoistic: Mr Aaron's or yours? Even so,it should be published I think.

As for the coins themelves and their anonymous buyer (what a question WSM

), I'm not sure if the fact that they're unique,makes them the pride of a collection (especially rareCanadian's from the very few glimpses I've had at) .They're two more NCLT coins,heavily promoted and outrageously expensive.

MrEureka · October 9, 2008 9:46AM

Another problem with the sale is that the buyer was Andy Lustig, an American coin dealer. These two numismatic curios now travel south of the border, and are lost to Canadians.

So the coins have been back in Canada for a month now and not one Canadian newspaper has publicly thanked me. It just ain't right.

coinkat · October 9, 2008 9:51AM

Dayem them

MrEureka is in very deep trouble!

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