news wire

Coinweek News Wire for March 26, 2018 ….
 

News Wire Current Events

1.) Lawmakers Push to Put Women on Quarters

In a program that would mimic the ongoing commemorative collection that features state landmarks, the US Mint would churn out coins featuring women selected by leaders from all 50 states, five territories and DC. Their portraits would appear on the back side of the coins, opposite George Washington

2.) As Congress considers women on quarters, where’s the Harriet Tubman $20?

Since current Treasury chief Steve Mnuchin took over however, the momentum behind Tubman for $20 appears to have stalled. Last fall, he called it “not something I’m focused on at the moment.” And in January, the Donald Trump appointee said he had made no decisions as to the fate of what would be the first black woman to appear on American paper currency

3.) Coupon system addresses coin shortage in Mangaluru, India

The dearth of lower denomination coins in circulation may bother shopkeepers in the rest of the country, but not in Mangaluru. This is thanks to a coupon system that shopkeepers here have evolved as an alternative. The system works on the basis of mutual trust between various shops in the city

4.) Forgotten victims of the cashless society

“Excuse me,” he said, eyes downcast, fingers fidgeting. “Do you have a dollar for something to eat?”

“I’m sorry,” I said. “I only have cards.”

It was a convenient truth, one I regretted as I watched him shuffle off. How easily I’d blamed “the system”. I thought of Denny then, too, and others like him. What would happen to these people if “the system” evolved into one that made being a charitable human increasingly inconvenient? How easily would we collectively defer to “Sorry, I’ve only got a card”?

News Wire In Memoriam

5.) Numismatic Ambassador Cheryl Maisch

Numismatic Ambassador Cheryl Maisch died March 3 at the age of 73 in Mobridge, S.D.

She and her husband Robert were jointly given the honor Aug. 15, 1991, at a meeting of the Token and Medal Society held during the American Numismatic Association’s centennial convention in Chicago.

Her introduction to coin collecting was on one of her first dates with Robert, where they went to a coin show in Gorham, Maine. They were married Sept. 12, 1971

News Wire Under the Radar

6.) Loveland man mints coins for USS Colorado

Carr created an image using a digital sculpting program that he wrote himself and a coin press that at one time was used in the Denver Mint.

“I wanted to do something a little bit unusual so I decided to sort of show an underwater view, kind of looking up at the submarine with part of the submarine under water and part of the submarine above the water,” Carr said.

In years past, Carr has designed the state quarters for New York and Rhode Island

7.) Baptism of Christ is inspiration for new Malta coin

The Central Bank of Malta has issued numismatic coins in gold and silver depicting ‘The Baptism of Christ’, a statuary group by Giuseppe Mazzuoli (1644-1725).

The coins are issued under the Europa Programme with the theme ‘Baroque and Rococo’ and bear the Europa Star logo

8.) President Ram Nath Kovind releases commemorative coins on Nabakalebar festival

President Ram Nath Kovind on Sunday released commemorative coins in denominations of ₹10 and ₹1000 on Lord Jagannath’s Nabakalebar festival.

The President, who is visiting Odisha, released the coins during the centenary celebration of Rastriya Sanskrit Sansthan in Puri

Bitcoin & Cryptocurrency

9.) The 5 Worst Bitcoin Scams

When the Bitcoin first came along, one of its biggest draws was the use of blockchains to make the currency secure in our digital world. Unfortunately, digital wallets are still open to hacking, and people are still open to scamming — so, so much scamming

10.) Bitcoin Mining Was Just Banned in a Small Town

A small lakeside town in upstate New York is fed up with Bitcoin miners using up so much of its low-cost electricity.

Plattsburgh gets cheap power from the St. Lawrence River, driving down electricity costs for residents, but it exceeded its allotted amount of hydropower in December and January, according to a local newspaper. Some complained that their bills surged as much as $300

11.) Where Could Bitcoin Succeed as a Currency? In a Failed State

In the US, bitcoin is primarily a speculative investment, whose soaring price has been compared to a bubble. But in Venezuela, where inflation topped 2,616 percent last year, cryptocurrency is a way around restrictions on holding foreign currency, and in some cases, a means of survival. That’s made Venezuela an interesting laboratory for cryptocurrency serving as both a real currency and a viable means of storing value. As the government prints more bolivars, their value plummets … Bitcoin holders, by contrast, have something most people don’t: a currency that’s worth something

12.) Bitcoin’s Blockchain Contains “Hundreds of Links” to Child Pornography

Since the Bitcoin blockchain is immutable, those who download it are also unwittingly downloading links to child porn

13.) All the Places Now Cracking Down on Bitcoin and Cryptocurrencies

Beijing has been leading an all-out assault on cryptocurrencies. Thus far, government officials have outlawed initial coin offerings and cryptocurrency exchanges within China’s borders, in an effort to curb crypto trading. They’ve also cut off access to online trading platforms and mobile apps that can act like exchanges. The government claims this is to control risky financial speculation, but protecting China’s yuan probably plays a role as well

14.) What the Founding Fathers’ Money Problems Can Teach Us About Bitcoin

But figuring out which bill to trust was hard—a daily calculation for the average American. If you lived in New Hampshire and someone handed you a $5 bill issued by a Pennsylvania bank, should you trust it? Maybe you’d only give someone $4 worth of New Hampshire money for it, because, well, to truly redeem that bill for gold or coins you’d need to travel to Pennsylvania. The farther the provenance of the bill, the less it might be worth.

“As crazy as this sounds, this was normal for Americans,” says Steven Mihm, associate professor of history at the University of Georgia and author of A Nation of Counterfeiters. In a very real way, Americans thought daily about the philosophy of currency—what makes a bill worth something?—in a way that few modern Americans do. It makes them far more similar to those digital pioneers today, pondering the possible value of their obscure alt-coins

15.) NSA WORKED TO “TRACK DOWN” BITCOIN USERS, SNOWDEN DOCUMENTS REVEAL

Classified documents provided by whistleblower Edward Snowden show that the National Security Agency indeed worked urgently to target bitcoin users around the world — and wielded at least one mysterious source of information to “help track down senders and receivers of Bitcoins,” according to a[n] … NSA report dating to March 2013. The data source appears to have leveraged the NSA’s ability to harvest and analyze raw, global internet traffic while also exploiting an unnamed software program that purported to offer anonymity to users, according to other documents

16.) Venezuela Begins Open Market Sale of Petros

Venezuela officially launched the Petro, the first cryptocurrency backed by oil reserves, on Feb. 20. Maduro has said the digital coin aims to combat sanctions and the “economic war” waged by the United States government and its junior partners against his country and advance “on issues of monetary sovereignty, to make financial transactions and overcome the financial blockade.”

The oil-backed cryptocurrency managed to raise US$5 billion during its pre-sale. Maduro thanked Russian firm Nem

17.) US blocks transactions with Venezuela in virtual currency, digital coin or digital token

On 19 March, the US President Donald Trump issued an executive order prohibiting US transactions with Venezuela’s digital currency, a move to further block the South American country’s access to US financial market

18.) Twitter Said to Plan Ban on Cryptocurrency, Coin Offering Ads

Twitter Inc. plans to ban online ads that promote cryptocurrencies and initial coin offerings, a person familiar with the matter told Bloomberg Law March 19

News Wire Crime & Punishment

coin_crime_alert19.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Local, State and Federal Investigators Learn Basics of Numismatic Crime Investigations at the National Money Show in Irving, Texas

Thirty-two local, state and federal investigators from across the State of Texas attended an eight-hour seminar on Numismatic Crime Investigations presented by the Numismatic Crime Information Center (NCIC). The seminar was hosted by the American Numismatic Association (ANA) and sponsored by the Texas Numismatic Association (TNA), Pantego Police Department and Stack’s Bowers.

“The seminar provided attendees with the basic tools and resources to conduct a thorough numismatic crime investigation,” said Doug Davis, Founder/President of NCIC.

To enhance the information being taught in the classroom, attendees were escorted through the bourse floor where they were able to observe and ask questions to dealers in attendance.

“Since the majority of the attendees had never investigated a numismatic crime, the experience was extremely valuable,” said Davis.

Each investigator was also given examples of slabbed coins and paper money provided by PCGS, PCGS Currency, NGC, PMG and ANACS.

“Attendees were encouraged to take the examples back to their respective departments and share information they learned with other investigators within their investigative units,” said Davis.

The attendees were presented certificates of attendance and received eight hours of accredited training through the Texas Commission on Law Enforcement.

* * *

Roof Top Burglary

On 3/12/18 between the hours of 4:20 am – 7-30 am, burglars came through the roof and disabled the alarm, wireless transmitter and battery. The backup would not work without a battery. The suspects then used a diamond saw to cut through a large Melnik safe door.

Partial listing of stolen coins & currency:

  • 1909s-VDB fine rim nick at date and quarter moon scuff below date
  • 15 US Made Open Face and Hunting pocket watches, none (1- 4k)
  • 3 1859o – 1860o – 1861o seated dollars in EF stained dark Hurricane damage
  • 25 Seated Halves 1859 unc,1854 1860, 1861, 1862 ef/au
    mostly New Orleans mint; hurricane damage stained dark
  • 1 seated quarter 1853 New stained dark
    hurricane damage stained dark with older cleaning
  • 25 Various date Eisenhower blue and brown
  • 15 1947 Mexico 5 peso Cuauhtemoc silver
  • 2 – 2×2 boxes of tokens, foreign and us type
  • Various refinery gold and silver jewelry
  • Small currency. 1′, 2’s, 5’s, 10’s, one 1928 $100
  • High-grade MPCs
  • 5 – Republic and Government of Texas Notes
  • $10 Small size gold note 1928
  • 5 – 1914 Dallas etc FRN
  • 25 pc large currency
  • 50 pc small currency
  • Various Wartime Currency 1, 10, 20
  • 25 Silver Dollars various dates
  • 75 Mexico 1 peso 10% coins

* * *

Stolen Note

The note pictured below has been reported stolen:

Stolen $5 Federal Reserve Note, PMG Certified - NCIC

* * *

Murder/Kidnapping

The Numismatic Crime Information Center assisted the Lincoln Nebraska police department several months ago with suspects of interest in a murder/kidnapping. NCIC connected the suspects to coin shop thefts in UTAH which allowed Detectives to hold the suspects for additional charges, giving them time to further investigate and uncover additional evidence to support their case. The male suspect, Aubrey Trail, has admitted to the killing.

* * *

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.

Banknote News

20.) BDL announces new LL100,000 note

A new LL100,000 banknote with a new design will enter circulation from April 10, Lebanon’s central bank said Wednesday

21.) New CHF200 banknote to be introduced in August

The Swiss National Bank (SNB) has announced that the latest addition to the new banknote series – the CHF200 note ($209) – will go into circulation on August 22

22.) Fake News – Pakistan has Issued PKR 10,000 Currency Note

A fake PKR 10,000 currency note is circulating over the internet. The news is spreading that State Bank of Pakistan has issued PKR 10,000 currency note but it is fake news with zero authenticity

Gold, Precious Metals & Bullion

23.) Romania says NO to gold repatriation exodus from Great Britain

Two years ago, the institution announced that 60 percent of the gold reserves are stored abroad. … 61 tons of the gold is stored in the Treasury of the National Bank of England, more than 40 tons of the gold is kept at the Bank of Romania in Bucharest and less than five tons are stored at the Bank of International Settlements in Basel, Switzerland.

The officials of the National Bank consider that keeping an important part of the gold reserve in London influences the country rating and boosts credibility for the financial Romanian market

Upcoming Auctions & Events

“Good News, Everyone…”

24.) Community rallies together to help young collector find elusive coin

17-year-old Nihad was flooded with emails from across the country who had seen his story and were keen to help. Some offered the coin in exchange of money while others offered it freely in support of his hobby.

“I was surprised as I didn’t expect to find it that fast and when the grocery shop worker showed it to me I was really happy and thanked him a lot,” said Nihad, who did not expect to receive such attention.

“I didn’t know that I will get all this support from the community as I received emails offering me the coin as a gift and that encouraged me and made me feel that a lot of people liked what I’m doing,” he said.

* * *

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