North Carolina cops are searching for a guy who successfully passed a $200 bill bearing George W. Bush’s portrait and a drawing of the White House complete with lawn signs reading “We like ice cream” and “USA deserves a tax cut.” The phony Bush bill was presented to a cashier at a Food Lion in Roanoke Rapids on September 6 by an unidentified male who was seeking to pay for $150 in groceries. Remarkably, the cashier accepted the counterfeit note and gave the man $50 change. In a separate incident involving a different perp, Roanoke Rapids cops Tuesday arrested Michael Harris, 24, for attempting last month to pass an identical $200 Bush bill at a convenience store.

You can see pictures of the $200 bill at The Smoking Gun.

1. In what year was the Buffalo 5-cent piece first struck for use? Answer 1913

2. What year did Gibraltar issue its first gold coin? Answer 1975

3. What color Treasury seal appears on most small-sized silver certificates? Answer Blue

4. Which of the designers of circulating US coins struck in 1984 were still living? Answer Frank Gasparro and Gilroy Roberts

5. What two sizes of American Arts Gold Medallions were issued? Answer 1 ounce and ¹⁄₂ ounce

The mighty bargain hunter claims that modern coin collecting is fun, but useless as a means of preserving wealth. It’s an interesting claim and while we probably all hope it’s incorrect, it’s worth reading. I’ve said it before, but I’ll repeat it again for emphasis. If the only reason you’re collecting coins is to make money, then you’re likely to be disappointed. If you’re collecting coins for fun and making money would be an added benefit, you’re likely to enjoy the hobby for years to come.

That blog entry linked to a great site I hadn’t heard about before called Coinflation.com. It uses the value of precious metals to determine the worth of various US coins and is updated daily. For instance, silver Kennedy halves are worth $4.45 in silver alone. That’s good news, considering that you can still find a few in circulation (not many, but they’re still out there).

Six years ago, New York investment adviser Robert Beckwitt was looking for an alternative to the increasingly expensive equity market. While other investors were busy scooping up real estate, Mr. Beckwitt returned to an old love – rare coins.

One of his first big purchases: a red 1909 Lincoln penny, part of the first issue of U.S. coins to include a portrait. Also featured on this particular coin was a feature that the mint removed from subsequent issues: the initials of the portrait’s sculptor.

Mr. Beckwitt paid a New Jersey coin dealer $10,000 for his pretty penny five years ago. His investment today has grown tenfold, thanks to a hot rare-coin market fueled by hungry collectors, greater transparency in the market on the Web, and the surging price of precious metals, especially gold, which earlier this year hit a 26-year high.

Indeed, the 48-year-old Mr. Beckwitt reflects growing ranks of wealthy baby boomers whose desire for alternative assets has led them to invest in a hobby they discovered as a child. Mr. Beckwitt, who started collecting coins at the age of 8, sorting for old pennies in bowls of spare change, says he owes his interest in coin collecting to his “love for the history and the idea of finding something rare.”

Read the rest at the Post Gazette

1. Who is “America’s Troubadour” appearing on the obverse of the Cincinnati Music Center commemorative? Answer Stephen Foster

2. When did New Zealand issue its first coins? Answer 1933

3. What Federal Reserve Banks are located west of the Mississippi River? Answer St. Louis, Kansas City, Minneapolis, Dallas and San Francisco

4. What do members of the IOWMC specialize in? Answer Wooden money

5. What business-strike coin issued only in 90% silver was designed by John R. Sinnock? Answer Franklin Half dollar