HomeNewsNews WireCoinWeek News Wire for August 25, 2017: Coins, Guns, and Fort Knox

CoinWeek News Wire for August 25, 2017: Coins, Guns, and Fort Knox

News Wire

By Coinweek ….

CoinWeek News Wire for August 25, 2017: 

Under the Radar

1.) King Rama IX commemorative coins unveiled

A portrait of the late monarch in court regalia appears on one side of the coins along with his name in Thai. On the reverse are a depiction of the crematorium being erected at Sanam Luang, the Royal Cypher of King Rama IX, and the inscription in Thai, “The royal funeral ceremony on Thursday October 26, BE 2560”

2.) Falklands issues coins in recognition of fisheries conservation policies

The coin is produced in a blue-tinted titanium which reacts differently with every strike. Each Patagonian Toothfish Coin is technically different and varies slightly in color. There is also a lined effect that is present on the coins which is unique to this metal

Current Events

3.) Small change a big headache in Kolkata

Even a few months ago, small change–or, more precisely, the lack of it–was a huge problem, causing almost-daily fights with bus conductors and auto drivers. But not any more. Now, people are actually paying a premium of as much as 15% to get rid of their coin hoard. And it’s because of two factors: a sudden glut in supply , and a rumour on the abolition of lower-denomination coins

Bitcoin & Cryptocurrency

4.) Major Oil Producing Regions Move to Adopt Blockchain in Their Operations

The energy industry will have to digitalize more and more in oil production, refining and shipping. So traders will also have to participate. It is a pre-archaic process. So introducing Blockchain will allow passing title from buyer to shipper to seller without going through the massive paperwork of bills of lading….

Crime & Punishment

coin_crime_alert5.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Coins Recovered

On July 29,2017 the Numismatic Crime Information Center (NCIC) sent out an alert regarding the following coins. A short time after the alert, a dealer reported he had bought the coins and a suspect was identified. Due to the on-going investigation no other details are available at the present time. However, the coins have been recovered.

  • 1893 S PCGS VG10
  • 1893CC PCGS AU55
  • 18930 PCGS MS63
  • 1896S PCGS MS63
  • 1880CC $5 Gold NGC VF30
  • 1892CC $5 Gold PCGS AU53

Please contact the NCIC’s Doug Davis if you have any questions or information about the case above. You can reach him at (817) 723-7231 or email him at [email protected].

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

6.) Deputies catch Kansas man with collectible coins, thousands of rounds of ammo

On Thursday afternoon, Jackson County Sheriff’s Office Deputies stopped Stephen Mai, 33, of Ellinwood, for a traffic violation near Mayetta. During the arrest, deputies found a handgun that had been reported stolen. Mai also had in his possession, a large amount of substances believed to be methamphetamine, marijuana and other controlled substances. He had a large assortment of collectable coins and metals, firearms and thousands of rounds of ammunition and other property

7.) ‘Pawn Stars?’ Not quite: 2 arrested in stolen coin collection investigation

The burglary occurred August 11, when officers responded to reports of a missing collection of foreign coins and paper currency at a private residence in the unit block of Brookview Avenue.

Police said an investigation revealed 21-year-old Zakhary Damron, of Dover, and 21-year-old Yante Morrison, of Camden-Wyoming, had broken into the home, stole the collection, and tried to sell it at a local pawn shop

8.) Libyan Investigators seize smuggler with ancient coins at Mitiga Airport

Rada said that the coins are Roman, though some of the 580 seized pieces it pictured appear to have Greek lettering. It is also possible to see a relatively rare bimetallic coin which may be a Roman commemorative medallion

9.) Scottish man fined for counterfeit note

The police carried out a search on the accused and the driver of the vehicle and the accused was found in possession of the £20 which was later found to be counterfeit

10.) Thieves steal rare coins from Pueblo woman’s car

“My heart sank because first of all somebody had broken into my car and these coins were something that my father who has passed away left me. So they were more sentimental to me,” Gerringer said

11.) Russian woman fined in Tajikistan over ‘smuggled’ tsarist-era coin

Khuzhina, who was born in Tajikistan and has lived in Russia since 2012, says she had the coin for years as a memento of her mother and was carrying it in her wallet when she entered the former Soviet republic from Russia. Russian Embassy officials told reporters that the coin is of little value, estimating it to be worth a maximum of $4.

The lead prosecutor in the case asked the court on August 18 to sentence Khuzhina to six years in prison

12.) Briton arrested in Turkey over coins he found while snorkeling

Toby Robyns, who was on holiday, was reportedly found with 13 coins when he was stopped by police at an airport as he and his family prepared to travel home

Banknote News

13.) RBI To Introduce New 50 Rupee Note: Here’s How It’s Going To Look

“The new denomination has motif of Hampi with chariot on the reverse, depicting the country’s cultural heritage. The base colour of the note is fluorescent blue,” the central bank said in a statement

Gold, Precious Metals & Bullion

14.) The chemical reason gold makes a perfect currency

It doesn’t play by the same rules as iron or tin or aluminum, and its value has nothing to do with its utility—or lack thereof. People valued the yellow metal for its beauty and malleability eons before they knew of its usefulness in conducting electricity or its chemical inertness.

That gold is so chemically “boring,” though, is one of the main reasons why it’s so highly valued, even today

15.) Russian Central Bank adds 12.4 tonnes to its gold reserves in July

Russia and China are also keen to set up an alternative to the effectively U.S.-controlled SWIFT (Society for Worldwide Interbank Financial Telecommunication) international payments transfer system. The worry here is that the U.S. and its allies might effectively be able to cut Russia and/or China out of the global funds transfer system should it wish to do so

Palladium16.) Palladium has rallied to levels not seen in 16 years

Palladium touched its highest levels in more than 16 years Friday [August 18], as ongoing concerns about tight supplies and expectations for record demand put prices for the metal on track to score their largest yearly gain in seven years

17.) After 40 years, Fort Knox opens vault to civilians

McConnell was part of a delegation of Ken­tu­cky politicians allowed inside the United States Bullion Depository at Fort Knox for the first time since 1974. U.S. Treasury Secretary Steven Mnuchin initiated the visit, along with U.S. Rep. Brett Guthrie and Gov. Matt Bevin.

The depository holds more than 147 million ounces of gold, which puts its market value at more than $186 billion. While primarily known as a vault for gold, the depository also held the Declaration of Independence and the U.S. Constitution during World War II

Upcoming Auctions & Events

18.) Local artist designs New Jersey quarter

This is Fox’s 21st coin or medal designed for the Mint, as well as her fifth quarter design chosen to be minted. She has designed four other quarters for the America the Beautiful Quarters Program including Cumberland Gap National Historical Park in 2016, Saratoga National Historical Park Quarter in 2015, Acadia National Park in 2012 and Glacier National Park in 2011

Treasure & Archaeology

19.) Leeds metal detectorist spends two decades unearthing historical treasure

“You go on names,” he said. “For example if a place ends in a Y like Selby or Wetherby, then there’s likely to be something Viking related there.

“We also look at the land, and look what is nearby, if there’s any historical churches. A land pattern of ridges and furrows normally dates back to Saxon times.

“These things give us a clue there might be something there worth uncovering.”

20.) Metal detectorist finds rare 6th Century pendant

A rare 6th Century gold pendant featuring images from a Byzantine coin has been found by a metal detectorist more than 1,500 years after being made.

The early Anglo-Saxon pendant is imprinted with an image of Emperor Justinian and is thought to have been made in France.

21.) Ancient coin discovered in Halamish

They looked and were very skeptical and then decided that the real test would be to take a very delicate scale and see if the weight fits that of a shekel. Prof. Amar expected it to be 14 grams, which is a shekel. When it was less he was hesitant, but then he said it was half. That’s the half-shekel piece

Museums & Exhibits

22.) Israel Museum coin exhibit shows a daughter’s love is worth more than gold

According to daughter Giovanna Adda Coen, whose donation more than doubled the total number of gold Roman coins in the Jewish state, her father’s collection was “so well known and admired by experts that the king of Italy himself, Victor Emmanuel III, a great coin collector, expressed the desire to see it during his exile in Alexandria and was received by my father at our home.”

Now this fit-for-a-king collection can be seen by the general public in the Israel Museum’s exhibit “Faces of Power,” temporarily on view in the Archaeology Wing

23.) Salar Jung Museum’s Children’s & Coins Gallery Now Open

The SJM has collection of coins from almost 80 countries but the authorities decided to showcase coins from only 21 nations in the gallery. The coins are rare and date back to a few centuries. Veerender says, from punched marked coins, Satavahana coins, Delhi Sultanate, one coin from Sher Shah Suri’s time, Alladin Khilji dynasty, Qutub Shahi, Mughal, Chola and Vijayanagara dynasty would be on display.

The highlight is the collection of coins from the Bahami kingdom covering almost nine kings. Also coins from British India too find a place in the gallery.

In addition, the Reserve Bank of India (RBI) donated a touch screen that depicts the history of Indian coins and how it evolved over the years. There is also a television kept at the gallery that shows how the currency changes over the years with the screen changing continuously

24.) Indian Numismatists display coins on freedom struggle and leaders

A collection of coins and philatelic materials on Indian freedom struggle including those released on various freedom fighters and important events like ‘Dandi Yatra‘ and a postal cover recalling Gandhi’s return from South Africa Members have been put up display by the Madurai Philatelist and Numismatics Association (MAPNA).

Special thrust has been given on coins issued between 1940 and 1950 when the country achieved its independence and country’s own mints started functioning by that time

“Good News, Everyone…”

25.) Old coins to save endangered species

New 12-sided £1 coins went into circulation in March, and the old, round £1 coins will cease to be legal tender from midnight on October 15.

Born Free will use the money raised to help endangered and threatened species worldwide. President Will Travers said: “Where are your old £1 coins hiding? Wherever they are, track them down, catch them and send them to the best possible home – the Born Free Foundation – where they will help save lives.”

Just for Fun

26.) This is the funniest joke of the year at the Edinburgh Fringe

A gag about the new pound coin has scooped the prize for the best joke of this year’s Edinburgh Fringe Festival.

Comedian Ken Cheng won the accolade with the line: “I’m not a fan of the new pound coin, but then again, I hate all change.”

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