This coin is a Royal Hawaiian Mint issue.
1) Gov. Ben Cayetano struck the first coin at the Royal Hawaiian Mint. Star-Bulletin provides the evidence. Coin is shown in the article. http://archives.starbulletin.com/2000/08/22/news/wild.html
2) Hallmark on the reverse of the coin is RHM (bottom image).
I first reported this find in my 12/17/2013 blog entry (see above link). This is the first known Royal Hawaiian Mint error.
I took additional pictures today (with new DSLR camera and close up lenses).
You can clearly see the repunched 1, 9 (first only), and the 6.
Current catalog assigned number is RHM-PVK-21-06 in my work in process book.
Waifs in Gold Boots (aka Royal Hawaiian Mint database) does not list an “Atlantis” reverse Captain Cook coin WITHOUT a hand punch sterling hallmark.
The image below is an example of this unlisted variety.
Many of the Franklin Mint issues have been mishandled by so-called dealers. One example is the medals encased in postal covers. These dealers (and collectors) focus on the medal and discard the postal cover. When this happens the degradation time-clock starts:
- The medal becomes unknown to non-specialist. Many key identification information from the COA is lost forever (set it came from, year issued, metal content, etc…).
- Environmental exposure begins to the medal’s surface. For an example, the Captain Cook medal was issued in 1977 and 38 years have now elapsed.
- Risk of mishandling begins to the medal’s surface. Again, using the Captain Cook example, I would prefer to own the original encapsulated medal rather than a loose piece.
One of the things I’ve been determining is a attrition rate formula to determine the “acceptable collectible supply” for the Franklin Mint issues.
For silver medals postal cover scenarios an example after 38 years after issue:
- 20% smelting loss.
- 20% mishandling loss.
- 50% Remain intact in complete set by Franklin Mint collectors.
In this example only 10% of the mintage intact in original postal cover will be available to Hawaiian collectors.
Using this percentage “example formula”, the Captain Cook medal mintage of 2216 FMR-E03 results with only 221 specimens to Hawaiiana collectors. Again, this is just my theory to determine availability for Hawaiiana collectors.
The topic of determining price for the Captain Cook medal is subjective. Most use the M&R guidebook (which is now 24 years old). Then there is the lack of information (mintage and source set)) in the M&R guidebook. So how did M&R set the price?
In this Captain Cook example, its listed as 2M-79 with no mintage or source set identified. The source set somewhat helps to identify the demand for the individual medal based on the Franklin Mint collector’s demand for the set. The Great Explorer Medals was sold world-wide (not only in the US) making it also hard to locate.
The 10% mintage population rule seems to work for me in collecting intact specimens in original Franklin Mint packaging.
When was the last time you saw a 2M-79 Mint in Package for sale?
Listed as FMI-A01 in my just released book Hawaiian Numismatic Issues from the Franklin Mint: Medals, Coins and Ingots.
This Aloha Airlines sterling silver ingot has a mintage of 1,777 (mintage is deceiving as Franklin Mint collectors do not breakup sets). If you locate a FMI-A01 today, its a remnant from a broken up completed set.
Hint: The choicest specimens are those in original Franklin Mint packaging. The proper collector term is Mint in Package (MIP).
Hint: The original Franklin Mint paperwork is also desired and extremely hard to come by since most specimens are a remnant from a broken up completed set.
Hint: Aloha Airlines went out of business in 2008 making this highly sought after by airline and Aloha Airlines memorabilia collectors.
Here is a MIP FMI-A01 with its original Franklin Mint paperwork and magazine ad.
These are fairly unknown silver issues struck by The Honolulu Mint.
My previous blog about the gold version (with images) of:
Queen Liliuokalani design. http://wp.me/p3eNTe-wk
King Kalakaua design: http://wp.me/p3eNTe-wu
The style of both coins differ slightly.
On the obverse: English vs Hawaiian. Date vs year only.
On the reverse: Placement of words ‘IOLANI PALACE. Change in fonts. Size and detail of the palace.