CoinWeek News Wire for Feb. 9, 2018: Germans Love Cash, Inside Jobs, Crypto Crash…

February 9, 2018

CoinWeek News Wire

By Coinweek Coin News Wire ….

Coin News Wire for February 9, 2018

Brain Food

I suspect that the Telegraph’s confusion may have arisen because of the tendency amongst management consultants (and others) to conflate the two entirely different kinds of electronic money: a cryptocurrency and a digital currency are very different things…

2.) India’s history minted in coin collection

Now, Singh is the owner of a large collection of coins, which includes several series that range back from the ancient kingdoms “Janapadas” in 600BC, and the Mauryan Empire in 300BC, to the coins used by the Greeks following Alexander the Great’s invasion of India in 326BC.

“I would say my three favourite series would be the Punch Mark Coins (PMC) … the gold coins used by the Gupta empire, and the gold coins used by the Mughal empire,” said Singh…

Under the Radar

3.) Royal Canadian Mint issues coin in shape of Ukrainian pysanka

The coin is the third pysanka in the collection of the Canadian mint, but the first of its kind to feature reverse gold plating. The golden background is skillfully integrated into the colour-over-engraved reverse, where, per Ukrainian tradition, every detail has special meaning—from the “sky” blue to the bud-laden branches signifying nature’s awakening…

Current Events

4.) Germany Is Still Obsessed With Cash

The national disdain for plastic has become a proxy for profound concerns about trust, privacy and the role of the state…

5.) Commemorative coins face Irish Central Bank crackdown

While the bank has the sole authority to issue special euro coins to mark major events, other enterprises have been cashing in on a centenary of anniversaries by selling pieces of metal marking events and characters connected to the foundation of the State.

A key issue that the Central Bank has identified is the use of the word “coin” and it believes that all such materials should rightfully be described as medals in order to remove any confusion…

6.) Caveat emptor: The Philadelphia Eagles “Legal Tender” coins you see being advertised!

If you’re busy accumulating Eagles collectibles during this joyous week, it’s understandable that you’d be tempted to order this coin.

Before you do so, however, please consider…

Bitcoin & Cryptocurrency News Wire

7.) Bitcoin Newbies Are Getting Crushed

Bitcoin’s rise in mainstream consciousness was brought on in part by retail investors’ fear of missing out after viewing the approval of futures as an endorsement by the establishment. As more novice investors jumped in, Bitcoin shot above $10,000, then $15,000, then as high as $20,000 on some exchanges, in a span of only a few weeks…

8.) A brief history of bitcoin mining hardware

Mining began to scale once [field-programmable gate arrays (FPGAs)] were modified for the purpose. The biggest draw to this hardware was the fact that it used three times less power than simple GPU setups to effectively accomplish the same task …

Yet, if you were an independent miner in 2011 who enjoyed your GPU setup, the writing was on the wall. FPGAs soon gave way to application-specific integrated circuit (ASIC) systems, and Bitcoin went from hobby to industry…

9.) A History Of Bitcoin Price Collapses Over the Years

The price of Bitcoin has fallen a stomach-wrenching 64.5% since December 17, 2017 … That’s a big drop for any market. However, a price crash in Bitcoin or any other cryptocurrency is nothing new. Bitcoin dies and comes back to life on a regular basis. One website estimates Bitcoin’s death toll stands at 249 and counting, dating back to 2010…

10.) Cryptocurrency Harder to Launder Than Fiat Currency

In the real world, there is no blockchain to monitor the movement of U.S. dollars in real time. Laundering cash in small amounts is as easy as walking into a casino, and in larger amounts easier still if you have a cash-based business for that express purpose. But on the web, the blockchain sees and records everything, making it easy for observers to montior the movement of stolen funds as they are disbursed…

11.) Litecoin Is Now a Surprise Favorite of Criminals Tired of Bitcoin

Bitcoin, which has for years been the currency of choice on the so-called dark web, is falling out of favor among criminals. This is not surprising given bitcoin’s sluggish processing times, and law enforcement’s growing ability to track its transactions.

More surprising is what these criminals are turning to instead. Rather than using one of the newer digital currencies with extra privacy features … the most popular alternative is the bitcoin clone, Litecoin…

12.) SEC, CFTC Talk Cryptocurrency and ICO Risks Before Senate Banking Committee

In the 71-page testimony … Clayton acknowledges that there have been past instances, similar to the current cryptocurrency/ICOs events, of new additions to the market that have raised the collective enthusiasm among people causing them to “rush into certain investments,” that have “benefited our economy.” But having said that, Clayton reiterates that the dangers related to cryptocurrency and ICOs including fraud, security and corruption cannot be disregarded…

13.) Mastercard, Visa Now Classify Bitcoin Purchases as ‘Cash Advances,’ Leading to Fees

Payment processors Visa and Mastercard have re-classified bitcoin purchases and will now view them as “cash advances,” a category that will bring an additional 5% fee to those virtual currency purchases on credit cards …

This fee would be in addition to the 4% fee a user takes when making a purchase on cryptocurrency network Coinbase, and other networks have similar fees for transactions.

Additionally, as cash advances don’t have the same interest-free period as other purchasing methods, interest accrues daily for such a transaction…

Crime & Punishment News Wire

14.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Residential Burglary

The following coins were stolen in a residential burglary in Dallas, Texas:

1909-S VDB PCGS AU 50 Green Lable
1806 Half Dollar PCGS VF30
1799 Dollar PCGS VF20
1903-O Dollar PCGS MS64 21485547

Several Commems

1936 Rhode Island MS65 11621677
1937-S Texas PCGS MS64 40018121
1936 York PCGS MS64 5287600
1936 Elgin PCGS MS65 13158426

Half Dollars

1840 Rev.1839 G6 ANACS 2659217
1841 VG10 ” 2659219
1858O XF45 NGC 3025788-009
1859 VF35 ANACS 2858393
1896S G6 PCGS 21975835
1921 VG8 ANACS 2709950

Dollars

1882S MS65 PCGS 60143852
1885 MS65 PCGS 1835067
1890CC AU53 ANACS 2427531
1894O XF40 NGC 1545230-012
1896 MS63 DMPL NGC 282656-004
1901-O MS65 NGC 597871-001

This is only a partial listing.

Stolen Inventory List

The link below provides a detailed inventory of silver coins stolen in the recent Indianapolis, IN homicide case. The sale of stolen coins in this offense could be made by a male or female.

Stolen Silver Coins

Dealers should be alert of any person or persons selling large quantities of gold or silver coins fitting the lists recently sent out by NCIC.

FedEx Theft/Loss

A package being sent via FedEx from Houston to Dallas was tampered with and contents removed. The package contained the following items.

Ten ounce Credit Suisse Bars
One ounce Gold Eagles
One ounce Gold Buffalos
One Ounce Krugerrands
One Ounce Maple Leafs

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 [email protected].

* * *

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

15.) Inside job suspected in North Hudson theft case

A North Hudson coin transport business was targeted by current and former employees who made off with more than $30,000 in currency, according to charges filed last week in St. Croix County Circuit Court.

The alleged thefts were uncovered after a routine traffic stop in Hudson that snowballed into a multi-suspect investigation as coin boxes, surveillance video and interviews surfaced, according to charges filed in the ongoing case…

16.) Australian Rare Coin Company director jailed for stealing

The former director of the collapsed Rare Coin Company will spend at least the next 25 months behind bars after being sentenced to stealing more than $1.8 million from investors over a two-year period.

Robert Colin Jackman, 63, was jailed for four years and two months in Albany District Court yesterday after pleading guilty to 36 counts of stealing, which occurred before his business was placed into voluntary liquidation in 2013…

17.) Former coin dealer, political activist wants sentence reduced

Thomas Noe is currently serving 18 years for stealing from an investment made by the Ohio insurance fund for injured workers…

18.) Criminal charges don’t appear imminent in Sydney Loofe case

Aubrey Trail … has said more than once that he was responsible for killing Loofe, a 24-year-old Lincoln store clerk…

19.) Techie Held in Bengaluru for Trying to Sell Banned Turkish Notes

A software engineer from Kerala [India] … has been arrested by the RMC Yard Police in Bengaluru for trying to sell high-value (one million) Turkish currency which was banned (demonetised) in 2005.

Deepesh had approached some businessmen … to convince them that he had Turkish Lira and he could be rich overnight by selling them.

But Deepesh would hide the fact that the currency was demonetised in the wake of hyperinflation in Turkey. Before being banned, a one-million Lira banknote would hardly buy even a scoop of ice cream…

20.) Suspects Sought In Downtown New Rochelle Coin & Jewelry Store Heist

Investigators said the burglars broke into New Rochelle Coin & Jewelry on Division Avenue by cutting a hole in the roof.

“A lot of stuff was taken, everything that’s the most expensive stuff that could be taken was taken, gold jewelry,” Amanda Pappas said…

21.) Infamous Thief in $1 Million NYC Gold Bucket Heist Tells of Dramatic Escape From Country

Julio Nivelo details his incredible journey out od the country and back to his home country of Ecuador after he learned the NYPD was searching for him in the brazen midtown heist of a bucket of $1.6 million in gold off an armored truck in October 2016…

Counterfeit Cavalcade

22.) Counterfeit money reported in south Guam

Last year, there were dozens of similar incidents reported to police. In those cases, store owners reported that the fake bills contained the words, “For motion picture use only.” The wording appeared on the top right on the front of the bill and on the left side on the back…

23.) 5 member counterfeiting gang nabbed in India

A five member gang, distributing counterfeit currency and reportedly with links to a group in Afghanistan, were arrested at Cubum town in the district today and fake Rs 2,000 notes with a face value of Rs 2.61 lakh seized from them, police said…

24.) Saskatoon Police receiving counterfeit money reports

Since the start of the year, a total of 72 fraudulent bills have been turned into Police, in the denominations of $5, $20, $50 and $100.

Some bills include the transparent strip from a real $5 denomination. The small numbers printed within the large transparent strip on a legitimate bank note will match the denomination of the bill….

25.) ‘Unforgeable’ Australian bank notes under attack from counterfeiters

By March, Roland DG received a call to say one of “Peter’s” printers wasn’t working. David Edwards, a field service engineer, was sent out for repairs. As he worked away he noticed the printer was loaded with a clear polymer film…

26.) ₹21.54 crore in fake currency seized post Indian demonetisation; Delhi, Gujarat on top

Union Minister of State for Home Affairs Hansraj Ahir informed the House that counterfeit currency to the tune of ₹21.54 crore was seized by agencies after demonetisation.

He said that information received from security and intelligence agencies indicated that Pakistan is involved in manufacturing and smuggling of fake currency into India. However, no documentary evidence of counterfeit notes of Pakistani origin being seized since demonetisation has been recorded…

Banknote News

27.) De La Rue to divest banknote paper business to Epiris

Last week, banknote and security paper producer and printer De La Rue announced an agreement on the sale of its banknote and security paper business to Epiris Fund II. De La Rue’s paper business which comprises the Overton and Bathford paper mills in the UK, will be renamed Portals De La Rue (Portals) Limited and sold to a newly formed company Whickerco Limited…

Taiwan Banknote Design Finalists

28.) Finalists of New Taiwan Dollar banknote design contest announced

All designs were submitted by Taiwan citizens…

29.) Kirsty Wark, Ian Rankin back calls for banknote tribute to Scots author Muriel Spark

“But many don’t know much about her work. She’s not celebrated in the same way Burns or Sir Walter Scott are.

“And yet she was one of the greatest writers of the 20th Century.”

Metal Detecting, Treasure & Archaeology

30.) Wigan man finds historic coins in brook

The trove includes a cut farthing or broken halfpenny from the reign of Henry III bearing the date 1248 or 1249, a penny with the head of Richard II on from the 1300s and coins from Henry II’s time on the throne…

31.) Metal detectorist finds coin minted by ‘first Brexiteer’

Rebel Emperor Carausius ruled Britain for seven years when he rejected Roman rule and appointed himself leader of an independent Britain.

Now the silver coin, found in a field near Winchester, is expected to fetch thousands when it goes under the hammer this month…

32.) Record year for the Treasure Act and the Portable Antiquities Scheme

Released with the annual reports was an updated Code of Practice for Responsible Metal-Detecting in England and Wales. Providing guidelines on best practice for finders, it can be read here: finds.org.uk/getinvolved/guides/codeofpractice.

Medals, Tokens & Exonumia

33.) Tokens of unrequited love? Thames yields ‘crooked coins’ tossed in by romantics

The suitor would bend the coin, both to make it an amulet and to prevent it being reused. If the token was kept, it indicated that affection was reciprocated, but if the coin was discarded then it was a rejection…