CoinWeek News Wire - Christmas 2017

By Coinweek ….
 

CoinWeek News Wire for December 15, 2017

Brain Food

1.) Ancient Jewish Coins – Fame, Fortune and Fakes

Did you get gelt?

No, not the chocolate kind but honest-to-goodness gelt. Maybe you were lucky to receive a genuine Judaean coin for Chanukah. Or a medallion from the early years from the State of Israel. Or perhaps you just want to know more about those ancient Jewish coins tucked away in the back of your drawer. Here’s where you should invest some time to learn about them – and our history

2.) Is the octagonal shape of the $1 coin linked to Lee Kuan Yew’s belief in feng shui?

Fresh allegations that the shape of certain government-issued items in Singapore is linked to Singapore’s first Prime Minister, the late Lee Kuan Yew’s allegedly strong belief in feng shui [have] been circulating online

Under the Radar

Nikolaos Gyzis Colorized Greek Commemorative Coin 2017

3.) Bank of Greece circulates first collectible coin with color

The coin depicts the bust of Nikolaos Gyzis on the front and a painter’s palette with his signature on the back and it was designed by award-winning engraver of the Bank of Greece, Giorgos Stamatopoulos

Bitcoin & Cryptocurrency

4.) I Was Wrong About Bitcoin. Here’s Why.

When Bitcoin’s price was swinging wildly between $100 and $200, sometimes within a few days, I thought to myself, “Who would sign up for such a roller-coaster ride?” I naïvely thought that what people liked about money was its stability, and knowing that $100 today would still be worth $100 tomorrow.

But you know what’s more popular than stable monetary instruments?

5.) Crypto – The Answer For Russia’s Petrodollar Woes?

Oil producing heavyweights have been working on plans to cut out the dollar for some time now. China, Russia and Iran are set to agree on currency swap agreements to rule out the dollar from oil trade, while China are working on a petro-yuan deal with Venezuela to sidestep the greenback.

The likelihood of these countries trading in their fiat currencies is high, but it could be wise to consider the likes of Bitcoin as the choice currency to trade in

North Korea Bitcoin

6.) North Korea may be making a fortune from bitcoin mania

In recent months, experts and officials say North Korea has been “mining” bitcoin, demanding it as ransom payment and outright stealing the digital currency

7.) The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market

Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. Because bitcoin is a digital currency and not a security … there’s no prohibition against a trade in which a group agrees to buy enough to push the price up and then cashes out in minutes

8.) Seven Lies Bitcoin Fans Tell Themselves (And Anyone Else Who Will Listen)

[N]ewbies and reporters alike have nowhere to turn for information on Bitcoin than the established cadre of Bitcoin fans (some would say fanatics) who helped to drive its price to the stratosphere in the first place.

Just one problem: many of these fans are spouting misinformation – and worse, they believe their own nonsense

9.) Bitcoin, Altcoins Combined Reach Market Capitalization of Half Trillion Dollars

Technology tends to follow a so-called “S-curve” where adoptions grows slowly at first, then increases exponentially in an almost vertical line, then flattens out again once mass adoption is reached. If digital currency adoption is in fact following an S-curve, then the massive crash many are expecting may never happen

10.) SEC Halts a Real Initial Coin Offering

[I]f you just want to offer securities publicly to whoever wants them, you have to register. Munchee did not register its securities or qualify for an exemption, so that’s that: Its token offering was illegal, even if everything that it said about those tokens was totally above-board

11.) Think People Got Rich From Bitcoin? We Haven’t Seen Anything Yet…

Back in ancient times, once people discovered that horses and oxen could multiply the labor of human beings, there were probably plenty of traders who made money speculating in animal prices.

But the real wealth was made by people who applied that new ‘technology’ to bigger problems and fundamentally changed the way their societies did business.

This will very much be the case with cryptofinance….

Crime & Punishment

coin_crime_alert12.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Seeking Additional Victims

Detectives with the Lincoln, NE police department continue to look for additional victims who may have been defrauded by the two subjects pictured below. They are suspected of theft and writing bad checks to antique shops and malls for gold and silver throughout the midwest. The losses may exceed $300,000.

NCIC suspects

The male subjects given name is Aubrey C. Trail and the female Bailey M. Boswell. The male subject has introduced himself as Allan and claims to run an antique business under the name of A&B Antiques.

The subjects are currently in custody but Detectives are looking for anyone who has come into contact with these two subjects. They are also persons of interest in the Sydney Loofe death investigation.

Anyone with information please contact Sgt. Steve Wiese with the Lincoln Police Department, (402) 441-8675.

Recovered Foreign Currency

In August a well-known currency collector reported to NCIC that he was the victim of a theft that resulted in the loss of a foreign collection valued at approx $40,000. A break in the case came when some of the notes appeared on eBay and the victim contacted NCIC. During the past several months NCIC has assisted the victim and law enforcement in coordinating the recovery of the bulk of the collection.

The notes were stolen in Pennsylvania and sold in Florida.

Assistance Needed

The Numismatic Crime Information Center on behalf of law enforcement is looking for anyone who has done business with an individual identified as Ken Shearn.

Please contact the NCIC’s Doug Davis if you have any questions or information about any of the cases above. You can reach him at (817) 723-7231 or email him at doug@numismaticcrimes.org.

* * *

The Numismatic Crime Information Center is a 501 (c)(3) non-profit corporation. P.O. Box 14080 Arlington, Texas 76094.

13.) North Korea may be forging bank notes

Previous “supernotes” were dated either 2001 or 2003 but the new forgery is dated 2006.

The same methods including raised and dented printing and no-smudge inks that are normally used for real banknotes have been applied to the newly found supernote, [Yi Ho-Joong, head of the KEB Hana Bank’s anti-counterfeit centre] said.

“You need facilities worth some $100 million to produce counterfeit bills of this quality and no crime rings would invest that much to make fake dollars,” he said. “Only state-level organisations can afford such facilities.”

14.) Helena man sentenced for silver coin theft

After a two-year journey through the legal system, a former Helena man is sentenced for stealing thousands of dollars in silver coins in 2014.

William James Lawrence was sentenced to 10 years in the Montana State Prison with all but 940 days suspended. Lawrence was then given credit for that time served, which means he’ll return to his home in Chinook

15.) Cairo Airport thwarts smuggling of 28 historic coins

The coins date back to the Ottoman Dynasty period (1299-1922) and Muhammad Ali Pasha’s dynasty’s reign period (1805 – 1952). The head of Antiquities Department at Cairo Airport explained that the coins will be displayed at the Museum of Islamic Art and Manial Palace Museum

16.) 13 Naira Note Sellers Arrested After Raid in Nigeria

No less than 13 Naira note sellers who turned deaf ears to warnings by the Central Bank of Nigeria (CBN) have landed themselves in the soup following a sting operation jointly carried out by operatives of the Police and Department of State Services (DSS) in Port Harcourt, Rivers State

Red Kettle Report

17.) Bellmont students ring red kettle bells, find gold coin

Several Bellmont High School students recently volunteered to assist the Salvation Army with its Red Kettle Campaign. At the conclusion of their volunteer work they discovered a gold coin inside one of the kettles that was left by an anonymous donor.

The school said the Salvation Army is appraising the coin but it’s believed to be worth around $1,200

18.) Salvation Army ‘Coin Crusader’ Donates Gold Again in Pompano Beach

Two 1947 Mexican coins were discovered in the kettle at the Walmart Neighborhood Market at 1199 S. Federal Highway on Nov. 27 and again on Wednesday. The coins are similar to ones received in the past three years. Each time, they are wrapped in $1 bills and donated anonymously

19.) Elmira Salvation Army Receives Gold Coin Donation

The coin is a gold maple leaf coin that weighs one-tenth of an ounce. It is worth between $150 and $200. It is for sale through the Salvation Army, and the proceeds will go to the Red Kettle Campaign. It was found in the kettle at the Jubilee in Horseheads

20.) Gold coin donated to Jamestown Salvation Army

Major Tim Nauta reports that a solid gold Krugerrand coin was donated at one of the six donation sites in Jamestown over the past weekend. This is the first gold coin donated in Jamestown since two coins were given in 2015

21.) An ‘extra special’ surprise sparks efforts for Alton’s Red Kettle campaign

Last Monday, Reinier opened up one of the red kettles and found a note folded around the American Gold Eagle 1/10 oz. gold coin he had found at the Godfrey Schnucks

22.) All that glitters isn’t gold in Salvation Army red kettle

Phelps took what appeared to be a very generous gift to the Aiken Coin Shop on Whiskey Road on Wednesday morning.

The news he received there, however, wasn’t good. Instead of being made out of precious metal, the coin is an inexpensive reproduction

Metal Detecting, Treasure & Archaeology

23.) Relics of 800-year-old Chinese ship found under water

Archaeologists have recovered around 21,000 relics from Nanhai No. 1, a cargo that sank in the South China Sea some 800 years ago. The ship was made during the time of the Song Dynasty.

Hoards of porcelain, silver, gold, lacquer and wooden relics have been recovered from the shipwreck. Not just this but over 17,000 copper coins and the remains of 2,600 animal and plant species have also been found

Museums & Exhibits

24.) Minting a century

Numismatist Rezwan Razack owns the world’s largest collection of Indian paper money. Now he is opening his collection to currency aficionados across the world by establishing the Museum of Indian Money

25.) Lessons from ancient Greek coinage

THE Greek word for money, chrema, carries a significance its English translation cannot fully convey.

“It means ‘to need’ and ‘to use’ together,” explains Nicholas Stampolidis, director of the Museum of Cycladic Art (MoCA) during a recent visit to the museum’s latest exhibition, “Money: Tangible Symbols in Ancient Greece.”

26.) Coins dating back to 500 BC to be exhibited in Pune

Coinex 2017, will be showcasing various types of coins dating back to 500 BC and the Gupta empire till 2017 in gold, silver, copper, lead and even platinum … Further, this year’s event, will have an auction of more than 1,200 items, by coin dealers from Kolkata, Delhi, Ahmedabad, Mumbai, Rajkot, Vadodara, Bengaluru and Chennai, providing the option of purchase and sale

Upcoming Auctions & Events

27.) Inaugural Green Valley Coin Show

The Green Valley Stamp and Coin Club with support from the Tucson Coin Club will have its inaugural coin show on 21 January 2018 at the Green Valley Village Mall/Shopping Center 101 S. La Canada, Green Valley, AZ 85614 from 9 a.m. to 4 p.m. Admission and parking are free. There will be 38 tables of dealers with US and world coins and paper money, tokens, medals, gold and silver and there will be free appraisals. I-19 exit 65, west on west on Esperanza Blvd , first left into shopping center. Last building on right, next to Sears.

28.) Transportation and Shipping Security Seminar: ICTA

A Loomis Armored representative will discuss transportation and shipping security at the upcoming Florida United Numismatists (FUN) show. The Industry Council for Tangible Assets (ICTA) will host the seminar. The seminar begins at 8:30 a.m. on Friday, January 5, 2018, at the Tampa Convention Center, 333 South Franklin Street, Tampa, Florida, in room 24. A continental breakfast sponsored by Loomis will be provided.

The topics of discussion will be (1) decreasing risk and safe transportation of high-value cargo; (2) the safety of valuable transportation in the armored industry; and (3) improving the process of high-value transportation.

“We encourage all dealers at the show to attend the seminar and learn the latest on transportation and shipping security,” said ICTA executive director Kathy McFadden.

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