HomeNewsNews WireCoinWeek News Wire for August 19, 2016

CoinWeek News Wire for August 19, 2016


By Coinweek ….

CoinWeek News Wire for August 19, 2016

Brain Food

1.) Gold Is Hot This Year. So Are Fakes

“If we sit and wait around for the government to take care of it, we’ll all be in real trouble,“ said Terry Hanlon, president of Dillon Gage Metals, a wholesale precious-metals trader

2.) A forgotten home and a forgotten name

The Canadian Bank Note Company on Richmond Road at Kirkwood is a familiar building to most in Ottawa. A holdover from the industrial days of this section of Richmond Road (which also once included R. L. Crain printers, a Pepsi plant, and General Electric), the whispers of redevelopment of this large property signal the potential end of another era

3.) Reformer Coin Harvey Born: August 16, 1851

In 1883, Harvey went to Colorado and worked as a silver prospector and miner. He soon became an advocate for “free silver,” a populist cause that called for abandoning the gold standard and returning to the free coinage of silver. After 10 years in the West, he moved to Chicago, where he wrote the million-selling Coin’s Financial School, earning Harvey his nickname

4.) 1885 Wavertree’s restoration reaches major milestone

As the mizzenmast was lowered, the group made its way below deck to the hold where the Stanford’s grandchildren … following maritime tradition, placed coins, including an 1885 Maundy Fourpence coin donated by the American Numismatic Society, at the base of the mizzenmast before it was secured in place

5.) Century-Old Time Capsule Opened, Includes 10-Cent Bill

US10fractionalA time capsule sealed by a bank in 1916 was opened in Saratoga Springs, New York this week. And it has many of the things you’d expect—like some photos of the town, a letter from the president of the bank in 1916, and some old coins. But one artifact stuck out as peculiar to the onlookers of 2016: A 10-cent bill

Current Events

6.) One Pesewa Coin Is Still Legal Tender

A Deputy Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has debunked the notion that the one Ghana pesewa coin is no longer legal tender.

Many traders, especially sachet water sellers, are refusing to accept the coin…

7.) Rio Catches Commemorative Coin Fever

In Rio de Janeiro, there’s a booming market for commemorative coins for the Olympic Games, with some fetching more than 100 times their face value

8.) Public support urged for Apollo 11 curved coins legislation

In the year since the bill’s introduction, the Apollo 11 50th Anniversary Commemorative Coin Act has gained nearly 300 cosponsors — more than enough to pass if put up for a vote in the House. But on the Senate side, the situation is different.

The companion bill was introduced only three months ago and has just four cosponsors. With the Senate’s scheduled recesses between now and December, there are only 43 days remaining for the act to be passed before the whole process would have to start over with the next Congress…

The Future Is Now

9.) Mint cuts jobs as coin use tumbles

Norway’s national mint, Det Norske Myntverket, has sent out warnings that it must cut costs and, most likely, jobs. Fewer Norwegians are using cash, especially the coins that the mint has produced for centuries…

Myntverket is one of the oldest businesses in Norway, founded in 1686. The company produces all Norwegian coins currently in circulation, and also produces the gold medal awarded as part of the annual Nobel Peace Prize


10.) The Wretched, Endless Cycle of Bitcoin Hacks

It seemed bitcoin exchange Bitfinex was doing all the right things. In the end, that didn’t stop hackers from stealing $65 million.

The latest in a long list of attacks on the digital currency since its birth in 2009 has been particularly vexing for the bitcoin community…

11.) This adorable piggy bank of the future doesn’t actually hold any coins

With the world moving toward a cashless future in which plastic cards and mobile apps make paper money obsolete, one New Zealand bank wants to help kids feel connected to their savings.

Enter Clever Kash, a portly yellow elephant that parents can pair with a mobile app to teach kids the value of saving…

Under the Radar

12.) Mint unveiling Beaumont Hamel collector coin

The Royal Canadian Mint is presenting a silver coin in Newfoundland to mark the 100th anniversary of the advance on Beaumont Hamel, July 1, 1916, during the Battle of Somme in the First World War.

The presentation of the coin [took] place Tuesday at the Royal Canadian Legion in Pleasantville, St. John’s…

13.) Manx coins to be made in London from next year

The Manx government has selected Tower Mint after a tender process to produce circulating and commemorative coins for the Isle of Man Treasury.

The 10-year contract takes effect from April 2017…

14.) Kazakh National Bank Issues Commemorative Coins

On July 29, the Kazakh National Bank issued new special 500 tenge (US$1.43) coins made of gold and silver, as well as 100 tenge (US$0.29) coins made of nickel silver. The coins are part of a series dedicated to Abulkhair Khan

15.) Kyrgyzstan puts 2 new collectible coins into circulation

The National Bank of the Kyrgyz Republic [issued] silver collectable coins “Independent Kyrgyz Republic – 25 years” and “World Nomad Games” on August 15, 2016

startrekgoldbar16.) Perth Mint Has 5000 Gold-Pressed Latinum Strips For Sale

Someone over at the Perth Mint really likes Star Trek. Commemorative coins featuring captains from the various shows is one thing, but an actual strip of gold-pressed latinum? Now that’s hardcore

17.) Meet the artist making Abdul Sattar Edhi’s commemorative coin

Walking into artist Saeed Akhtar’s room in his studio is a veritable lesson on Pakistani history. Among his recent undertakings of sculpting humanitarian Abdul Sattar Edhi’s portrait for a commemorative coin laid his impressions of Quaid-e-Azam and Allama Iqbal, the pictures with which we recognise these leaders today

Bullion & Precious Metals

18.) Federal Bank to start distribution of Indian gold coins

Kerala based private sector lender Federal Bank has tied up with MMTC for distribution of Indian Gold Coins (IGC), the first-Ever national gold offering by the government, which was launched by Prime Minister Narendra Modi in November 2015

19.) Abenomics breeds a new generation of Japanese gold bugs

The precious metal has emerged as a kind of shiny financial aspirin, writes Leo Lewis

Numismatic Crime

coin_crime_alert20.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):


The Carver County, Minnesota Sheriff’s Office is investigating a burglary where 51 $500 bills were stolen. There are no serial numbers available at this time.

* * *

Anyone with information about the case above should contact Detective Tyler Stahn at [email protected] or (952) 361-1897.

You may also contact the NCIC’s Doug Davis at (817) 723-7231 or [email protected]

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


21.) Ancient gold scam re-emerges

In essence, the scammers produce some very realistic looking ‘gold’ Buddha statues, nuggets and coins. They wield a story that they are ancient artifacts that have been recently unearthed. One of the recent scams also had an ‘ancient will’ in an attempt to provide legitimacy to the scam

22.) Collector coins stolen from Shopper’s Drug Mart

The High River RCMP detachment is seeking public help after more than CA$2,000 of collector coins were stolen from the post office outlet at the community’s Shoppers Drug Mart.

robberysuspectrcmpIf you have information about this, or any other crime(s), please call the High River RCMP at (403) 652-2357, or if you want to remain anonymous, you can contact Crime Stoppers by phone at 1-800-222-8477 (TIPS), or by Internet at www.tipsubmit.com

23.) New Milford coin dealer faces sentencing in theft case

Fuat Candan, 42, posted hundreds of listings on [eBay] in June 2015. After the winning bidders made their payments through the online service PayPal, eBay received complaints that the coins never arrived

24.) Savannah internet scammer convicted of telemarketing fraud

Waddell received responses from dozens of people throughout the United States and abroad. Waddell then lied about the availability of the coins and falsely promised quick delivery times to get customers to transfer money into bank accounts controlled by Waddell.

Waddell lied to his victims when they asked about the status of their unfulfilled coin orders. Additionally, Waddell knowingly sold counterfeit gold coins to at least one of his victims and attempted to destroy those coins after a federal grand jury indicted him for selling fake gold…

25.) Burglars force their way into Laindon home to steal prized coin collection and jewelry

Amongst the coins stolen were: a gold and silver coin issued for the christening of HRH Prince George; a set and various individual coins to mark the jubilees of HRH Queen Elizabeth II; several coins to mark the birth of HRH Prince George; and a coin to mark the 350th anniversary of the crown jewels.

The burglars also stole a Raymond Neil watch with a leather strap and a gold face, an Ingersoll Diamond limited edition men’s watch, an Ingersoll Diamond ladies watch, an Amadeus men’s watch and three men’s rings…

26.) Western Australia police uncover extensive ‘stolen’ coin collection during vehicle stop

Suspected thieves who tried to ‘cash in’ by stealing a unique coin collection have been caught red-handed during a police traffic stop in Wagin on Saturday

27.) Couple laments loss of late relative’s coin collection after break-in

Inside the safe, Carlile said was a coin collection that once belonged to her father-in-law. She doesn’t know the monetary value, and said the coins aren’t rare.

“He collected foreign currency for his daughters when he was away overseas serving in the military. It’s just a sentimental thing. It’s like one of the few pieces of him we kept,” said Carlile…

Treasure News

28.) Metal Detecting Workshop At Library

Please join us at the East Fishkill Community Library on Wednesday, August 24, from 6:30-8pm for a fun, family friendly, free workshop on Metal Detecting: the Art of Treasure Hunting with Roger Young. A member of the Putnam/Westchester Metal Detectorists & Archeological Society, Roger will share his expertise on the subject

29.) Coin hoard buried outside Lanark 700 years ago

The 41 coins of what is now called the Bonnington Hoard tells us a lot about everyday life around here all those centuries ago, and a little bit of historic detective work might even have revealed who buried the hoard and why

30.) Anglo-Saxon coin find near York is ‘jaw dropping’

Experts at Yorkshire Museum said the coin was 1,400 years old and is one of only 19 ever found.

The Anglo-Saxon gold shilling was one of the first coins minted in York and is believed to be worth between £5,000 and £7,000…

31.) Bulgarian archaeologists find rare golden coin at cape Kaliakra ruins

The coin weighs three grams but has been shaved according to the so-called “Varna standard” and is thought to have originally weighed four grams. It was minted between 1305 and 1320, during the reign of Byzantine emperor Andronikos II Palaiologos, at a time when his son Michael IX was co-emperor

Banknote News

32.) We do not need this opaque deal to print our notes

The reason the joint venture deal with [UK-based bank note printer] De La Rue has been controversial is because it was clear that it was just a clever strategy by the multinational to tie the hands of the Central Bank of Kenya into giving it contracts without competitive bidding. The impact of the deal will be to deny us the chance of buying bank notes at cheaper and competitive rates

33.) Australia’s first ever bank note worth 10 shillings now valued at $1m

Australia’s number one banknote will also be displayed alongside 12 of the finest and rarest examples of Australia’s first coin, the Holey Dollar, with the entire collection valued at more than $5 million

Visit anda.com.au

34.) Bank of Canada recognizes Saskatoon Police Service with Counterfeit Deterrence award

This award, which has been presented since 2004, recognizes the outstanding achievements of criminal justice professionals and educators involved in the prevention and deterrence of bank note counterfeiting in Canada

35.) L$500 Specimen Bank Note Hunts CBL Governor, As House Furious To Probe

The Committee would investigate whether the Central Bank of Liberia (CBL) created the L$500 Specimen Banknote after seeking the authority of the House, which has the sole constitutional authority to approve the printing of any denomination in Liberian dollars

churchhillnote36.) Watch us try and destroy one of the first new £5 notes at Churchill’s family home in Chartwell

Nonie Chapman, who worked at Chartwell with members of Churchill’s family for 51 years, said: “You try to rip it up and you cannot”

37.) How much of South Africa’s money is printed and minted overseas?

SA IS mostly self-sufficient in the production of its bank notes and coins, with close to 90% produced domestically, Finance Minister Pravin Gordhan has revealed


38.) Red Rose Coin Club medal features first female sculptor

A likeness of Blanche Nevin, often described as America’s first noteworthy female sculptor, is engraved on this year’s Lancaster Red Rose Coin Club commemorative medal

39.) Charleroi detective connects with officers through challenge coins

In his office at Charleroi Regional Police station, Detective Chad Zelinsky works on a case with a backdrop of shelves of hundreds of challenge coins he has collected.

The collection is a hobby in his off time that has connected him with police departments across the country and the world…

40.) Amazon flips on decision to sell locally produced Trump-Clinton coin

Amazon is putting sales of a Clinton-Trump coin on hold, but metal stamper Long-Stanton Manufacturing is finding ways to continue to sell the fast-selling novelty.

The sixth-generation, 154-year-old West Chester company minted 1,000 brass “Indecision 2016” coins in July as a marketing piece just before the respective parties’ conventions, with Donald Trump’s face on one side and Hillary Clinton’s on the other…

Upcoming Auctions & Events

41.) Florence Coin, Stamp Show starts Saturday

More than 45 vendors from across the country will attend the 19th annual Coin and Stamp Show Aug. 20 and 21 at the Florence Events Center.

The show, from 9 a.m. to 5 p.m. Saturday and 9 a.m. to 4 p.m. Sunday, is free to the public. People are encouraged to bring in coins and stamps for evaluation or to buy, sell or trade…

42.) Major coin show set to kick off in Hong Kong

The event has been jointly organised by London-based saleroom Spink, who also operate in Hong Kong and Singapore, along with US auctioneers Stacks Bowers [sic], as well as Chinese firms Coin-in-Coin [sic] and Shouxi. It runs from August 19-21 at the Mira Hotel in Tsim Sha Tsui, Hong Kong’s shopping and entertainment district

43.) History at auction: When coins are worth a fortune

Much to the delight of serious collectors as well as hobbyists, almost all major auctioneers have lined up auctions ahead of the Mumbai Coin Society Annual Fair in the third week of September. On display — and up for grabs — are coins (and gold mohurs) from the Gupta Dynasty, Sultanate currencies, Presidency silvers, Mughal coinage, British India silvers and coppers, India states’ issue, rare paper notes, medals, crests and badges

1880stella44.) There Is A $4 U.S. Coin, And It’s Now Worth $60,000

In 1879, America’s minister plenipotentiary to Austria, John Adam Kasson, successfully persuaded the Philadelphia Mint that the U.S. needed a four-dollar coin. The exact logic of the argument has been lost to time, though its thrust was that America needed a coin that would work as a form of international currency, and a gold coin that (roughly) measured the same weight as a French napoleon or a British sovereign would do the trick

45.) East Meets West in Rago’s Sept. 9-10 Auctions of Asian Coins and Currency

Featuring a mix of American, World, and Ancient Coins as well as a nice collection of Type Coins in PCGS old rattler holders

Worthy Additions to your Library

46.) The Complete Guide to Collecting Composer Coins, 2nd Edition

Music-Related World Coins, with Variations on a Composer Theme

Just for Fun

47.) What Happens When You Drop a Coin in a Fountain?

“The Wishgranter” (2016) is a cute animated short by Kal Athannassov, John McDonald and Echo Wu, produced at the Ringling College of Art and Design, that goes behind-the-scenes of a night in the life of a wish-granting fountain.

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US Olympic Commemorative Coins Currently Available on eBay


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