CoinWeek News Wire

By Coinweek ….
 

CoinWeek News Wire for June 9, 2017

Brain Food

1.) Vikings knew how to maintain trust in their money

By the 880s the Vikings had taken over the territory of all but the West Saxons but they provided their subjugated peoples with money they knew – in the form of imitations of the silver pennies produced by Alfred the Great

2.) Early Byzantine Copper Coins: Catalog of an English Collection

This site aims to inform collectors and students of Byzantine base metal coins issued in the period between the monetary reform of Anastasius I (491-518) and that of Alexius I Comnenus (1081-1118)

3.) We hated it and it secretly sucked millions from our pockets: The loonie at 30

To compensate for all these sock drawer loonies and keep enough dollars in circulation, Canada had to strike roughly two coins for every dollar bill it phased out. This worked out to about 300 million more loonies than there were dollar bills — which meant a revenue windfall for the Canadian government. A loonie is just a 30 cent metal disk after all, and since 1987 it has added up to about $200 million in extra revenue for the federal government

Current Events

4.) Trinidad & Tobago: No more 1 cent coins from July*

FROM July 1, no more one cent coins will be issued by the Central Bank.

In a notice on Thursday titled “Changes in Coin Composition and Elimination of the one cent coin”, the Central Bank said no more one cent coins would be issued and the five, ten and 25 cent coins with a new metallic composition will be issued. The bank said it will be launching a coin redemption drive, the notice stated…

5.) Rejecting Rs 10 coin amounts to sedition: Here is how you file the case

The argument being meted out is based on a ‘dreaded’ WhatsApp rumour. Vendors while rejecting the Rs 10 coin say there is no rupee symbol on it. Just to make it clear the coin without the rupee symbol on it is not fake and it was minted in 2009. It is perfectly legal, the RBI has also clarified.

In Uttar Pradesh the District Magistrate of Pubhit had said refusal to accept the currency could be charged with sedition. The Rs 10 coin is a national currency and no one has the right to refuse it as the government of India promises to pay the value of the currency to the bearer. According to RBI rules, those who refuse to accept the Indian currency can be liable for action under section 124A (sedition) of IPC…

6.) Numismatists fear coins set to lose shine with 12-fold tax rise under GST

At a time when numismatics, the collection of coins, was transforming into an attractive investment option, the imposition of 12% tax under the Goods and Services Act could hamper the industry.

Antique coins are sold at only 2%-3% of the price higher than gold. Therefore, levying 12% tax could not only force the industry to go underground but also compel people to deal in cash, experts said…

7.) Man finds rare new £1 coin with two different dates printed on it… and it could be £3,000

The coin has the year 2016 printed on one side of the coin – the year before the new coin even came into circulation – but on the converse side 2017 is engraved in micro-lettering

Bitcoin & Cryptocurrency

8.) New Hampshire Governor Signs Bitcoin Exemption Into Law

According to the text of the bill, the new rules exempt “persons conducting business using transactions conducted in whole or in part in virtual currency” from the state’s money transmitter regulations.

The bill is notable given that it enjoyed strong grassroots support in the state, yet its top regulators largely blasted it during public hearings. During a hearing in April, advocates strongly urged legislators to adopt the measure, while representatives from the state’s Banking and Justice Departments called for it to be scuttled…

Crime & Punishment

9.) Fake bank note warning for Scottish Borders businesses

So far this month, there have been more than ten reports of counterfeit currency being used at stores in Hawick, Jedburgh and Galashiels.

Police Scotland say the notes appeared to be high quality and legitimate, and are Bank of Ireland and Bank of Ulster £20 notes, with the following serial numbers:

  • Bank of Ireland: CD975822, CB737906 and CB977561
  • Bank of Ulster: L9169401

Police want businesses in the Borders to carefully examine any Bank of Ireland or Ulster £20 notes they are offered and report any other incidents of fraudulent currency immediately…

10.) Vandalia Police: Man takes coin worth $1,300 from Crossroad Coins

Anyone who recognizes the man in the photo or knows anything about the case is asked to contact Detective M. Hulbert at (937) 415-2276 or mhulbert@vandaliaohio.org.

Gold, Precious Metals & Bullion

11.) Japan’s underworld turns to gold for a quick buck

“In years gone by, the ‘yakuza’ earned their living largely from extortion and protection rackets, but the new legislation has effectively eliminated those revenue streams … So they have been casting around for a new way of making a living, and the gangs that are dominant in southern Japan have clearly recognized the opportunities that lie in gold.”

12.) 66-year chart of beer vs gold price may lead to (heavy) drinking

Historically the median is at 87 litres making the “beer purchasing power” of gold at the moment above average

13.) China’s Gold Imports Seen Jumping 50% as Haven Demand Booms

Demand is rising on concerns over property, share and bond markets and the outlook for the yuan, amid a government drive to reduce leverage in the financial system. Local consumption was up 15 percent in the first quarter, with sales of bars for investment climbing more than 60 percent and dwarfing a 1.4 percent rise in jewelry buying, according to data from the China Gold Association. China also imports gold from Switzerland

14.) New Gold Rush: Vaults In High Demand As Investors’ Storage Needs Surge

Geopolitical uncertainty and accelerating inflation are contributing to the popularity of safe-haven assets, such as gold, which is driving the demand for high-security storage, with many firms looking to expand their capacity

15.) Chats by Ex-Deutsche Bank Metals Trader Reveal Precious Metal Price Manipulation ‘Tricks from the Master’

After pleading guilty to fraud charges last week and agreeing to cooperate, Liew has become a prime government witness for U.S. prosecutors investigating whether traders at the world’s biggest banks conspired to manipulate prices in silver, gold, platinum and palladium. His chats with colleagues — part of an FBI affidavit filed in Chicago and placed under seal — provide a window into the investigation by the Justice Department, which began looking into such activities at a dozen of the biggest global banks two years ago

Banknote News

16.) Мы нашли МИЛЛИАРД – Soviet billions in a rocket mine

Russian bloggers find abandoned Soviet bills in a mine…

17.) Bangladesh Bank to issue new Tk100, Tk500 notes on June 11

Bangladesh Bank Governor Fazle Kabir will sign the notes as which will be available at Bangladesh Bank headquarters and other offices of the bank across the country, said the press release.

“The new notes will be printed on cotton paper. New 4mm security fibre Kinetic StarChrome Thread will be added in the notes to strength security,” said the press release.

However, the colour, size, watermark, design and other security features of the new notes will be similar to the recent ones…

Treasure & Archaeology

18.) Hoard of Roman coins found at former burial site in Gelderland

Experts believe the fortune was buried by a Frankish military leader in the second half of the fifth century, when the area was part of the Western Roman Empire, which collapsed in 476AD. Some of the 41 gold pieces unearthed in Lienden, near Veenendaal, bear the image of Majorian, one of the empire’s last rulers, who reigned for four years from 457.

“On that basis we think this treasure was buried in around 460,” said Nico Roymans, professor of archaeology at the Vrije Universiteit in Amsterdam.

Medals, Tokens & Exonumia

19.) Prattan finds Miss Kansas coin at gun show

The Kansas Bicentennial coin was deliberately minted with a blank area on the reverse side so it could be engraved with anything like this coin that relates to the pageant that starts next week in Pratt

20.) Medal at auction recalls when England won the first World Cups

In 1909, this club from the Northern League was invited to compete for the prestigious Sir Thomas Lipton Trophy in Turin, considered by many to be a precursor to today’s World Cup.

That trailblazing tournament is recalled in an intriguing lot coming up at the north-eastern auction house Anderson & Garland in Newcastle-upon-Tyne on June 13-15: the winner’s medal awarded to Alfred Edwin (Tot) Gubbins of West Auckland FC

Upcoming Auctions & Events

 

 

21.) International Symposium: “Byzantine Gold Coins in the World of Late Antiquity”

The symposium aims at studying the wider spread of Byzantine as well as Sassanian coins from Constantinople to Chang’an with a comparative and connective approach. By analyzing these “dollars in the middle ages” to measure the expansion of the “world” in Late Antiquity, one has to ask what features we should pay special attention to? Monetary economy in the long-distance trade, pattern of trading, or social use of them in the communities with different ethnicity and culture? And, last but not least, there is the question that whether Byzantine coins can be added to the above-mentioned list? What are the boundaries or limits of this “Globalization of Late Antiquity” in comparison to the modern world through the view of coins?

Worth Additions to Your Library

22.) A Numismatic History of Congo/Zaïre: 1887-1997

THIS book addresses the coinage of Congo/Zaïre. It sets the coins in their historical context as it moves in chronological fashion from the first silver and copper coins authorized by the Belgian king Leopold II in 1887, for the Congo Free State (L’État indépendant du Congo) through the last silver and gold proof coins authorized by Joseph Mobutu in his final turbulent years as the President of Zaïre (1996-1997)

“Good News, Everyone…”

23.) Man reunited with lost coin collection

An extremely valuable collection of Byzantine coins were bound for the auction block. On Monday, they were returned to their rightful owner who thought he’d never see his collection again…

24.) Rare Coin Collector, Dealer Celebrates 50 Years In Business

Since he was 9, he said he has collected coins. By the time he was 13, he said he was running his own coin business and by the time he was 16, he was working for a major coin company in Miami and several years later he was running his own business out of his home.

Now, his Boca Raton company William Youngerman Inc., which deals with buying and selling of coins from around the world, is celebrating 50 years in the business…

25.) Anonymous man donates $6,000 in change to Summer Fund & Food Drive

The coins were sent off to Max Federal Credit Union where they were counted and totaled out to be $6,022.15! The man did not leave his name or tell us any details about the coins. We would love to thank him for his contribution to help families across the River Region

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