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CoinWeek News Wire for December 16, 2016

By Coinweek ….

CoinWeek News Wire for December 16, 2016

Current Events

1.) The reasons Saudi Arabia stopped issuing paper riyals

“The number of one Riyal banknotes constitutes half of the banknotes in circulation. This posed challenges and it was thus decided to gradually replace it with coins,” the monetary said

2.) Venezuela to replace high denomination money with coins

Venezuela will replace its highest denomination bank notes with coins amid an inflation crisis, the country’s government has announced

3.) Sotheby’s Hires Fraud Expert to Start New Research Department

Sotheby’s has hired a prominent art fraud expert to start a Scientific Research Department, the auction house announced on Monday

4.) U.S. sues to recover ancient Syrian artifacts looted by Islamic State

A gold coin featuring Emperor Hadrian Augustus Caesar is shown in this handout, part of four ancient Syrian artifacts the U.S. Government believes were trafficked by Islamic State, U.S. State Department officials said December 15, 2016

5.) Venezuela is shutting down its border to combat currency smuggling

Venezuela is shutting down its western border with Colombia for 72 hours in order combat currency smuggling, President Nicolas Maduro said on Monday evening

Under the Radar

6.) Coin of the Year’s 10 winners

Finland and the United States were the top winners in the first round of judging in the Coin of the Year competition.

Each nation won two of the 10 categories, while Italy, Japan, Canada, Great Britain, Austria, and the Cook Islands each won in a single category…

7.) Isle of Man honours Joey Dunlop with coin set

Northern Ireland racing legend Joey Dunlop has been honoured in the Isle of Man with a new commemorative coin collection

8.) The 50p that is far rarer than the fabled Kew Gardens coin

In 2009, former BBC television show Blue Peter ran a competition to design an Olympic coin some three years ahead of the event held in London.

The winner, Florence Jackson then aged nine, had her design struck. It could then be snapped up for £1.99 via the Royal Mint website…

9.) Collector’s coin commemorates tragic events at Polish mine

The National Bank of Poland has issued a collector’s coin commemorating the 35th anniversary of the killings of nine miners by the country’s communist-era authorities

10.) Cherokee Secretary of State Hoskin speaks about commemorative Sequoyah coin

From a Cherokee perspective, the look and message behind the United States’ currency has improved two-fold in 2016, with the emergence of the Cherokee language and Sequoyah’s image on the dollar coin that will be going into circulation in the coming year, coupled with the announced plans to remove Andrew Jackson from the face of the $20 bill. It is good to see the United States Treasury take Native history in America into account for its monetary creations…”

11.) Fuljenz: Trump’s Election Boosted the Sales of Many High-Priced Coins

While gold bullion has declined since the November election, demand for extremely rare coins has risen. There’s a growing sense of optimism among entrepreneurs and collectors I talk with that business and income will generally improve during Trump’s presidency

Crime & Punishment

coin_crime_alert12.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Residential Burglary

A dealer leaving the recent Houston Money Show drove to a relatives house where he was staying in Harris County, Texas. He took two catalog cases inside and then left for dinner. While out to dinner the residence was burglarized and the only thing taken was the catalog cases containing his coin inventory.

The following coins were stolen:

  • 1 double row box of iron and zinc Notgeld
  • 1 double row box of hammered coin from India and surrounds
  • 2 double row boxes of modern silver and copper-nickel crowns with sporting and animal themes
  • 10 double row boxes of general foreign, mostly 1700 – 2000 including:
    • About 50 Chinese cash type coins, some 1,000 to 2,000 years old
    • Large quantities of Brazil, Portugal, Russia and Sweden
    • About 50 British Conder tokens. Several are valued at over $300
    • 1746 1/2 Thaler from Hall choice AU $2,000
    • City view 1/3 Thaler from Wied-Neuwied EF $900
    • Gold Coast pattern 1/4 Ackey 1796 hairlined AU $500
  • 1 single row box with around 20 high grade minor coins from the German States in the 1700s and 1800s

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Anyone with information please 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.


13.) Woman warns of online coin scam

She said about 10 days later they shipped another order, which they did not accept, and charged $4,725 to a credit card he never authorized them to use.

“It’s a huge racket because most people don’t have the time and will to carry it out so they eat it. … My dad is not a rich man,” the woman said. “It makes me mad. I can hardly talk about it.”

Gold, Bullion & Precious Metals

14.) Gold Bar Worth More than Half Million Euros Presented in Zagreb

Marking the entry on the Croatian market of the Moro&Kunst company and the 800-year-old Austrian Mint (Muenze Oesterreich), a large gold bar weighting 12.44 kilograms (400 ounces) was presented on Tuesday in Zagreb. The bar is worth more than half a million euros, reports Večernji List on December 13, 2016

Banknote News

15.) The $100 banknote could be on the chopping block

At the MYEFO next week the government is expected to announce a taskforce, headed by former KPMG global chairman Michael Andrew, to target the cash economy which accounts for 1.5% of GDP, or $21 billion, in money that goes untaxed.

As part of that the $100 note and a ban on cash payments over a certain limit could be axed.

“There’s nothing wrong with cash, the issue is when people don’t declare it,” said revenue and financial services minister Kelly O’Dwyer.

“If we can get a percentage of that, it’s revenue owed to the Australian people.”

16.) BSP to release Duterte-signed peso bills next week

The Bangko Sentral ng Pilipinas yesterday said that the initial batch of the new generation currency banknotes bearing the signature of President Duterte will be released next week

17.) Venezuela pulling most widely used bill from circulation

President Nicolas Maduro announced Sunday that the 100-bolivar bill will be removed by Wednesday. The 100-bolivar note is worth about 2 cents and is the most widely used bill in the economically ravaged South American country

18.) New Saudi currency to go into circulation on December 26

The Kingdom’s newly designed currency will go into circulation on Dec. 26 in denominations of SR500, SR100, SR50, SR10 and SR5 with coins of different values including SR2 and SR1.

The new bills commemorating the era of Custodian of the Two Holy Mosques King Salman represent the sixth issue of Saudi banknotes and coins, which were launched on Tuesday night…

19.) Goof-Up: Security Threads for Rs 1K Notes Used in Paper for Rs 2K

In a lapse of massive proportions, security threads to be used on the now demonetised Rs 1,000 currency notes were embedded in about 200 metric tonnes of paper allotted for the new Rs 2,000 notes, but it could not be ascertained whether they were actually printed and went into circulation

Red Kettle Report

Salvation Army Red Kettle Report

  1. December 10Secret Santa strikes again with $1,200 gold coin: http://www.clickondetroit.com/news/salvation-armys-secret-santa-strikes-again-with-gold-coin-worth-an-estimated-1200
  2. December 10First gold coins in McHenry County: http://www.nwherald.com/2016/12/13/salvation-armys-red-kettle-campaign-sees-first-gold-coins-in-mchenry-county/aw2his2/
  3. December 10Gold Kangaroo in Normal Red Kettle: http://www.wjbc.com/2016/12/12/salvation-army-finds-gold-coin-in-normal-red-kettle/
  4. December 10Canadian gold coin found in Omaha kettle: http://fox42kptm.com/news/local/gold-coin-found-in-the-salvation-armys-red-kettle
  5. December 10Robert Frost gold coin wrapped in $100 bill donated in Sturgis: http://www.newscenter1.tv/story/34033988/anonymous-donor-keeps-tradition-donates-gold-to-salvation-army
  6. December 12Grundy County once again receives gold coin donations: http://www.morrisherald-news.com/2016/12/13/we-care-of-grundy-county-once-again-receives-gold-coin-and-silver-donations/ar4sgsa/
  7. December 13Mystery gold-coin donor strikes again in Antigo: http://www.waow.com/story/34044954/mystery-gold-coin-donor-strikes-again-in-antigo
  8. December 14Mystery Donor Gives Sixth Gold Coin to Green Bay Kettle: http://wbay.com/2016/12/14/mystery-donor-drops-gold-coin-in-local-red-kettle/
  9. December 15Mishawaka gold coin wrapped in special message: http://www.wndu.com/content/news/Gold-coin-found-in-Salvation-Army-Kettle-wrapped-in-special-message-406931735.html

Gold, Bullion & Precious Metals

20.) Gold refiners in bitter row over Perth Mint campaign

A campaign by the West Australian government-owned Perth Mint to pressure rival refiners not to process Australian gold in India was based on “wildly hypothetical and misleading figures” and risked “damaging reputational consequences” for the federal and state governments, according to heated correspondence sent to senior figures by a major international gold refiner

Museums & Exhibits

21.) Designer with the Midas Touch: Exhibition reveals artistry of man who designed Australia’s coins

The Designer with the Midas Touch exhibition showcases not only the coins, but also intricately detailed silverware Stuart Devlin AO designed.

A gold and silversmith by trade, Devlin won a competition in 1964 to create Australia’s first decimal coins.

But Australian Mint chief executive Ross MacDiarmid said winning the competition was just the start of Devlin’s career…

Kids & Coins

22.) The art of coin collecting for children

In the days of smartphones, video games and other distractions, a couple of coin collectors are trying to inspire the younger generation to collect coins and learn about history

“Good News, Everyone…”

23.) Hospital rewards new mothers with gold in UAE

The birth of a child is always a special and rewarding moment and adds to the excitement and happiness of its parents. But this occasion turned out to be extra special for Pakistani expatriate Sidra Sana Shamas Ul Haq and her husband, when their new born was given the title of the ‘First Golden Baby’ at the Thumbay Hospital

World of the Weird

24.) St. Louis man selling ’98 Ford Taurus covered in over 30,000 coins

Wall’s unique vehicle is coated with $545 in change. The Taurus has 28,500 pennies, 4,200 nickles [sic] and 50 silver dollars placed on the paint. The weight of the change added 350lbs to the vehicle.

You’ll need drop alot of coin for this car. He is asking $34,500. That’s a chunk of change when the Blue Book value is at most, $2,000…

Seems legit. —CoinWeek

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