HomeNewsCoinWeek News Wire for February 24, 2017

CoinWeek News Wire for February 24, 2017

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By Coinweek ….

CoinWeek News Wire for February 24, 2017

Brain Food

1.) The Secret Art History on Your Money

The “fancy heads” both prettied things up and made the documents harder to counterfeit. A $1 bill issued by the Corn Exchange Bank of Wisconsin in the 1850s or ’60s shows a head derived from a painting by the French artist Constant Joseph Brochart. Mr. [Mark] Tomasko bought the lithograph based on it just because he liked it. Later he realized it had been engraved and used on a bank note.

“It was entirely accidental,” he said.

2.) Were coins dug up in Horchurch part of a 13th century bullion theft?

We can even narrow down the date of the crime. A new “moneyer” (coin-maker) took over a London mint in May 1260. The hoard contained just one of his coins. In July 1261, the king exempted Hornchurch priory from paying tax – a sign that the brethren were hard up.

That dates the theft to the winter of 1260-1…

Under the Radar

3.) Two new Rama IX commemorative coins minted

The Treasury Department, with royal permission, has produced the two new coins in commemoration of King Rama IX, both in a 20-baht denomination, which will be available to the public next month

4.) Guelph artist’s work appears on Canada 150 coin

Laurie McGaw created a collage of Canadian symbols for the silver coin, called “Heart of Our Nation”, including the Canadian flag, a birch-bark canoe, old fashioned lobster traps, an Inukshuk, wheat, the majestic Rockies, hockey sticks and other icons she felt are Canadian to the core

5.) Nabakalebara commemorative coin will carry faulty Odia, thanks to state govt

The design for the commemorative coin for the Nabakalebara in 2015 carries the spelling of the event as ‘Nabakalebara’ in Odia script but as ‘Newkalevar’ in Hindi and ‘Newkalebara’ in English. When the discussion regarding the coin was held in the Finance Ministry, Financial Affairs secretary Saktikanta Das pointed out the errors in the spelling and the design was sent to Odisha government for correction

6.) Slight production defect may be responsible for Seychelles’ rusted coins

The Head of Division of Banking Services, Mike Tirant, said that this is the preliminary findings in the investigation conducted by the Royal Mint of the UK

Zimdollar Blues

7.) Zimbabwe ‘to roll out 10, 20 bond notes’

Less than two weeks after President Robert Mugabe’s government unexpectedly introduced 5 US “bond notes”, a state-controlled newspaper says notes in denominations of 10 and 20 are likely to be introduced too.

Said the Herald in a line buried in a news piece in the Crime and Courts section on Wednesday: “Government is… expected to gradually roll out the $10 and $20 notes.”


The green two dollar note, worth two US dollars in Zimbabwe, is selling for more than US$7 and the purple five dollar note for more than US$17

The Future Is Now

9.) Bank of Canada draws digital currencies lessons from history

The Canadian Central Bank recently released a staff working paper (source: PDF) that examines the period in Canada when both private bank notes and government-issued notes (Dominion notes) were simultaneously in circulation. “Because both of these notes shared many of the characteristics of today’s digital currencies,” the report states, “the experience with these notes can be used to draw lessons about how digital currencies might perform.”

10.) The Biggest Bitcoin Crashes in the Last 10 Years [INFOGRAPHIC]

Bitcoin underwent a lot of ups and downs in its brief history and we have made a a complete guide to bitcoin for those who need a speedy update on the bitcoin trading ecosphere.

However for those who are quite familiar with bitcoin, here is our run down of major crashes during the early years of this digital currency experienced by Bitcoin traders…

11.) How to Use, Trade, Store and Invest in Bitcoin Digital Assets – Step by Step, Part 1

I will teach novices and experts alike how to fit Bitcoin into an investment portfolio safely and with the optimum risk-adjusted potential – along with step-by-step guides, instructions and tutorials.

This first part of the series starts with the basics, obtaining and managing your bitcoin…

12.) Venezuela’s Largest Bitcoin Exchange Resumes Trading After Bank Conflict Resolution

On Feb. 3, for the first time since its launch in August 2014, SurBitcoin suspended trading for all of its users as Banesco, Venezuela’s largest bank with a market share of 14.2% percent, abruptly shut down the bank account of SurBitcoin. The bank told operators of SurBitcoin that Venezuelans aren’t allowed to utilize the national currency, the Bolivar, to trade Bitcoin.

For over three weeks, SurBitcoin was forced to suspend its operations and temporarily put an end to fiat-to-Bitcoin trading whilst attempting to come to a resolution with Banesco. The temporary suspension of SurBitcoin coincided with the local government’s crackdown on Venezuelan Bitcoin miners, who were arrested for utilizing the country’s resources, such as electricity, for mining Bitcoin…

Crime & Punishment

coin_crime_alert13.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Check Fraud

Dealers should carefully scrutinize any large orders for gold bullion originating from the Brooklyn, NY area. An investigation is currently in progress involving the purchase of gold bullion in excess of 1 million dollars using a fraudulent check.

Due to the on-going investigation no other information is available at this time. An update will be sent as soon as additional details are provided.

Contact the NCIC’s Doug Davis if you have any questions or information about this case. 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.


14.) Vestal woman took $10,000 in collectible coins

A Vestal woman stole $10,000 in collectible coins from a home, according to the Johnson City Police Department.

Police tell 12 News that Katelynd Clark, 25, was charged with grand larceny and petit larceny…

15.) Girard, Ohio police recover man’s stolen coin collection

Officers said Ashlee Johnson and Frank Penevich, of Warren, stole the collection from the 300 block of Mosier Road during the day on Tuesday.

The detective bureau found nearly the entire collection on Wednesday…

16.) From Rabindranath Tagore to Kailash Satyarthi, when burglars aimed for the Nobel

Recently, burglars stole Kailash Satyarthi’s Nobel Peace Prize replica and other memorabilia. While the accused were arrested, this isn’t the first time the prestigious award has been touched by controversy

Counterfeit Cavalcade

17.) SBI ATM dispenses fake Rs 2,000 note with Children Bank of India instead of RBI

New Delhi: A man who had gone to withdraw money at an ATM in Sangam Vihar here allegedly ended up getting four notes of Rs 2,000 with “Children Bank Of India” written on them, police said on Wednesday

18.) Delhi man arrested for loading ‘Children’s Bank’ note into ATM

The man, identified as Mohd Isha, was working with a logistics and cash management firm for more than a year. He was responsible for cash being deposited in the SBI ATM in Sangam Vihar on the day when the fake notes were found

Treasure & Archaeology

19.) Henry VIII sovereign found by Kempston metal detector

A Henry the Eighth sovereign penny has been unearthed in Kempston by a local metal detecting enthusiast.

Keith White began ‘detecting’ almost a year ago after being inspired by TV series ‘The Detectorists’…

20.) Reason why Jersey coin hoard was buried may be revealed

Theories behind why the hoard – which is the largest find of its kind and contains more than 60,000 coins and Iron Age jewelry – was buried where it was, include that the site was a religious centre, a Celtic settlement or even an ancient tribal capital

21.) Israeli authorities foil ancient Roman coin smuggling attempt

Customs authorities at the Allenby Crossing between Jordan and Israel foiled on Sunday an attempt to smuggle Roman and Mamluk period coins into Israel

22.) Abergele treasure hunter stumbles upon 26 ancient coins in a field

An inquest held on Tuesday that the “medieval coin hoard” included 24 silver groats dating back to between 1464 and 1502, during the reigns of Edward IV and Henry VII.

There was also an Edward IV penny from 1471-72 and an Edward II era farthing from 1310-14…

Gold, Precious Metals & Bullion

23.) Will The Silver Rally Come To An End In 2017?

Since hitting a low of circa US$15.60 an ounce just before Christmas, the metal has now rallied over 15 percent and is rapidly approaching another three-month high. But how long can this incredible rally last?

24.) This Country Wants Everyone to Have 100 Grams of Gold

A landlocked nation perched between China and Kazakhstan is embarking on an experiment with little parallel worldwide: shifting savings from cattle to gold

Medals, Tokens & Exonumia

25.) The vintage art of hand-sculpted coins

The origins of using coins as an artistic medium can be traced back to the late 1700s. Sometime around 1850, artists started altering the half-dime Seated Liberty coin to make it appear as though the “Goddess Liberty” (a title that was used as far back as ancient Rome, who knew) clad in a flowing dress seated upon a rock, was actually sitting on a toilet. Classy

26.) 2017 Emmetsburg Irish Coin Features Five Shamrocks

The coin shows the young Robert Emmet pointing to freedom with the words: Emmetsburg, Iowa, Irish Patriot 1778-1803, Robert Emmet, March 2017. This year, rather than Stars and Shamrocks, the coin is imprinted with five Shamrocks. The Shamrocks signify the five islands at Five Island Lake as well as five decades of celebrating St. Patrick’s Day in Emmetsburg

27.) Myrtle Beach firemen presented challenge coin for helping family involved in crash

The Myrtle Beach Fire Rescue says firefighter/ Paramedic Wingard and firefighter/ EMT McDowell responded to a car crash that involved a child recently. Though everyone involved was safe, the child’s car seat was damaged in the accident and had to be thrown away

Upcoming Auctions & Events

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28.) Cupertino Coin Club hosts annual show Feb. 26

The Cupertino Coin Club is holding its 45th annual coin show on Feb. 26 from 10 a.m. to 5 p.m. at Napredak Hall at 770 Montague Expressway in San Jose

29.) Ohio about to auction abandoned safe-deposit-box

Among the items up for sale at the auction set for Thursday and Friday: 38 100-ounce silver bars, 120 1-ounce gold South African Krugerrands, U.S. gold coins, old U.S. currency, silver dollars, 45 pocket watches, and foreign coins and currency.

Some of the items have been in the state’s possession since 1968…

30.) Will County Coin Club to host 57th Annual Coin Show on Feb. 26

WHAT: 57th Annual Coin Show

WHEN: 9 a.m. to 3:30 p.m. Feb. 26

WHERE: Clarion Hotel, 411 S. Larkin Ave., Joliet

ETC: Features include an educational forum on “Investing in Precious Metals” at 11 a.m.,a youth auction at 1:30 p.m. (ages 14 and under) and hourly door prizes. Security by Joliet Police Department.

COST: Admission and parking is free

INFORMATION: Contact Rich Hlavacik at [email protected]

Museums & Exhibits

31.) Coupons given to World War POWs on display at 8th Bengaluru Numismatic expo

During the World Wars, the British housed their prisoners of wars (PoWs) in India. Many camps were set up across the country, including in Bengaluru, for this purpose.

In Bengaluru, eight such camps were set up during World War II and Italian prisoners were housed here. Now, Bengaluru has a chance to see a few of these coupons, which will be put on public display as part of the 8th National Numismatic Exhibition, conducted by Marudhar Arts. The exhibition will be held from February 24 to 26…

Auction News

32.) Why auctioneers are buying into forensics

Nevertheless, some think the emphasis on technology is overkill. “Science is never black and white,” says Stuart Lochhead, the managing director at Daniel Katz Gallery. “You are relying on the calibration of a machine, how samples are taken. There’s a bit of a concern that everything will now have to be tested.” Still, he acknowledges the value of certain analyses, citing thermoluminescence testing, which can determine in what century an object was made

Kids & Coins

33.) Shelby County Coin Club announces essay scholarship competition

The Shelby County Coin Club has announced that it will accept essays in its annual scholarship competition through March 31.

Seniors who will be graduating from high school in Shelby County or who live in Shelby County and will be graduating from Upper Valley Career Center are eligible to apply by submitting a 500-word essay.

The topic of the essay should be “Should the phrase, ‘In God We Trust,’ continue to be used on U.S. currency? Why or why not?”…

Just for Fun

34.) President Trump on a Gold Coin

Every great ruler has a history of gold. Unfortunately a “federal law” prohibits living persons from being on US coinage. Here’s why that needs to change.

Donald J. Trump is our most unique President. He is the first president in the US history who has never debased himself by being on the government dole, either through a elected office or through a government job. He has never been in the military. Donald J. Trump’s loyalties lie with the common American and not with lobbyists or the military-industrial complex…

35.) How we took 27,000 1p coins and created a penny floor

When thinking about what to lay in the kitchen Amy came up with a fantastic idea inspired by what she had researched online. We saw a bunch of penny floor projects in the USA, it seemed a really popular way of creating a bespoke retro floor for any part of the house, but wasn’t done in the UK. Challenge accepted!

We took 27,000 1p coins and decided to give our kitchen diner a new look. Each coin was individually glued to the floor which had been self-leveled before hand and left to dry. After gluing down all the coins a black grout was applied to fill the gaps followed by a high-gloss epoxy resin to cover and seal.

The end result is simply awesome. The floor looks stunning and the weeks of hard work has been worth the pain…

36.) Chinese man sends girlfriend bouquet of flowers made of 1,100 banknotes

The guy, from Jilin Province, sent of bouquet of bank note flowers worth more than £1,100. Each individual bill in the 10,000 Yuan was rolled into the shape of a rose by a florist in Changchun

World of the Weird

37.) $20 Million Found in Mattress

People of a certain generation will sometimes choose to eschew a checking or savings account at a bank for their own “in-house” form of saving their money: stuffing cash in the couch. Although the rapid changes of the Digital Age have made electronic banking and even online or mobile banking more convenient for Millennials, many Baby Boomers and Gen Xers still trust the oldest storage option in the books.

However, a recent investigation by federal authorities in Brazil uncovered perhaps the most lucrative such “personal savings account” in the box spring of a mattress, totaling some $20 million in cash…

38.) Suffering coin-eating turtle heading for surgery

The faculty did a CT scan of the turtle and discovered a huge lump of coins, 20x23x20 centimetres in size, in its stomach. This was pressing down on the ventral shell, which had cracked in the abdominal area and become infected.

Apparently it had eaten the coins visitors threw into its pond in the belief it would bring them good luck…

[We hope Bank’s surgery goes well and that he continues to live a long, long life. —CoinWeek]

39.) Moldova art exhibit illustrates $1bn banking fraud

An artist in Moldova has created a mock-up of $1bn (£800m) in banknotes to highlight the amount lost in the country’s biggest banking scandal.

They represent the $1bn that disappeared from three banks in 2014, equivalent to an eighth of the ex-Soviet republic’s entire GDP. The money was transferred to shell companies abroad, a fraud that prompted months of anti-government protests in Europe’s poorest country…

“Good News, Everyone…”

40.) Alabama Penny drive raises funds for Good Samaritan

Seeing plastic jugs full of coins and dollar bills at Moulton Elementary School on Monday morning put a big smile on Anna Mullican’s face.

Mullican, the cultural resource specialist for the Oakville Indian Mounds Education Center is heading up the coin drive for the second consecutive year in order to raise money for Good Samaritan in Lawrence County.

Students from each class at the elementary brought their class jug to a table set up by the office before the jars were loaded up and taken to the Indian Mounds Education Center…

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  1. I wish #34 (Trump on circulating coins) were a joke, but after looking at the site either it’s very real or a spectacularly good prank. Assuming it’s the former, anyone who claims the presidencies of George Washington, Abraham Lincoln, or the Roosevelts were diminished because of their prior government service is dangerously deluded. Don’t forget, it was Washington himself who turned thumbs down on the idea of displaying the president’s image on coins minted during their tenure, calling it “a monarchial practice”. Our president, even the current one, is neither a monarch to be honored nor a dictator to be exalted on circulating coinage.


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