HomeNewsCoinWeek News Wire for March 31, 2017

CoinWeek News Wire for March 31, 2017

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By Coinweek ….

CoinWeek News Wire for March 31, 2017

Brain Food

1.) The 300-Year Quest to Make a Foolproof £1 Coin

Sir Isaac Newton founded modern physics but struggled to make a coin that couldn’t be counterfeited

2.) Spearfish woman made her mark at Denver Mint

In 1981, Nora Walsh Hussey was appointed by President Ronald Reagan to be superintendent of the Denver Mint

3.) This coin collector keeps alive legacy of Bahmanis

Ismail’s treasures include a coin of Magadha Janapada regime (545-323 BC), a coin of Satavahana dynasty (100 AD to 300 BC), a coin of Kanishka dynasty (127 AD -140 AD), coins of Rashtrakuta dynasty, a coin from the time of Alexander II & III (1825 AD and 1881 respectively) and one issued under Adolf Hitler (1935)

Current Events

4.) Senators reintroduce COINS Act to eliminate penny, use dollar coins

Sens. Mike Enzi and John McCain, reintroduced a bill today that would save money making money. The Currency Optimization, Innovation, and National Savings Act of 2017 (COINS Act) calls for moving to a $1 coin, reducing nickel production, and eliminating the penny (which costs more than a cent to produce)

5.) Democrats Grill Wisconsin AG Schimel On Rape Kit Testing, Commemorative Coin Spending

Democratic lawmakers pressed Wisconsin Attorney General Brad Schimel on the state’s untested rape kits and agency spending on commemorative coins during a budget briefing Wednesday

[To read an earlier News Wire piece about Schimel’s vanity commemoratives, click here. KAED, that’s us. —CoinWeek]

Under the Radar

6.) Pakistan to issue Edhi commemorative coin on 31st

[State Bank of Pakistan] will issue Rs 50 Abdul Sattar Edhi Commemorative Coin from March 31st. Keeping in view the meritorious services rendered to the humanity in general and Pakistanis in particular, the Federal govt had decided to issue Commemorative Coin in memory of late Abdul Sattar Edhi in the Cabinet meeting held on Friday, July 15, 2016

Collecting in General

7.) Heard of phillumeny? Meet India’s matchbox collectors

The hobby of collecting matchboxes is called phillumeny, and is not half as popular as stamp and coin collecting. Three collectors tell us why it should be!

World War 2 German belt buckle8.) What Should You Do With Your Father’s Nazi Keepsake?

The impulse to destroy troubling historical artifacts is usually best resisted. Even if the item did end up in the wrong hands, the primary responsibility would lie with those who used this relic to celebrate Nazi ideas


9.) Bitcoin: ‘Blood Diamonds’ Of The Digital Era

Coupled with Bitcoin’s popularity among ransomware extortionists and all manner of other cybercriminals, we must now face a chilling realization: the underlying value of Bitcoin really has little if nothing to do with its artificial scarcity or popularity as a medium of speculation.

On the contrary – the only reason Bitcoin has value to anyone is because of the underlying value as a medium of exchange for lawbreakers. If we could flip a switch and eliminate all illegal uses of Bitcoin, there would be nothing left of the cybercurrency

10.) SEC denies a second application to list bitcoin product

The SEC announced in a filing its decision denying Intercontinental Exchange Inc’s NYSE Arca exchange the ability to list and trade the SolidX Bitcoin Trust, an exchange-traded product (ETP) that would trade like a stock and track the digital asset’s price. Previously, the regulatory agency said it had concerns with a similar proposal by investors Cameron Winklevoss and Tyler Winklevoss

11.) So You Want to Invest in Bitcoin: Here’s What You Should Know

The SEC recently rejected a proposal for the launch of an ETF based solely on the price of bitcoins. Does this mean bitcoins are not suitable for investing?

12.) A Plan to Save Blockchain Democracy From Bitcoin’s Civil War

The global community of companies, coders, and opportunists who control the bitcoin network is now on the verge of revolt after more than two years of infighting. Basically, the bitcoin network is moving data at a painfully slow pace, and the community can’t agree on how to fix it. So, one increasingly powerful group is threatening to “hard fork” the project. In other words: They could split bitcoin into two separate digital currencies

Crime & Punishment

coin_crime_alert13.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Vehicle Burglary

A Washington State dealer was the victim of a vehicle burglary after attending the recent Pacific Northwest Numismatic Association (PNNA) coin show in Tukwila, WA. The offense took place in the parking lot of a Costco in Shoreline, Washington. The investigation is being conducted by the Shoreline, WA police dept.

The following coins were stolen:

  • 1885CC $ PCGS MS65 82906581
  • 1921D $ PCGS MS66 CAC 82225051
  • 1897S $ PCGS MS65 81809530
  • 1902-O $ PCGS MS66 82193406
  • 1893S $ PCGS VF25 14194432
  • 1981O $ PCGS MS64
  • 1885O $ PCGS MS64+
  • 1904O $ ANACS MS65
  • 1904O $ PCGS MS64+
  • 1881S $ PCGSMS66
  • 1882CC $ Raw MS63+
  • 1882CC $ Raw MS63
  • 1882CC $ Raw MS63
  • 1883CC $ Raw MS63
  • 1883CC $ Raw MS63
  • 1883O $Raw MS63
  • 1927S $PCGS MS63
  • 1899O $NGCMS66

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Coin Shop Burglary

West Coast Coin and Currency in Simi Valley, CA was the victim of a recent smash-and-grab burglary. The suspects broke out the front window and cut bars to gain entry. The incident took less than four minutes.

The suspects took common material except for a number of 2017 MS70 ActionVU Silver Eagles. The shop has an exclusive deal right now with the 2017 MS70 ActionVU Flag and Eagle label through PCGS.

The suspects may be involved in additional shop burglaries in the Southern California area.

Please contact the NCIC’s Doug Davis if you have any information about 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.


14.) 150 historic Palestinian coins seized in Cairo airport

“The seized coins belong to various periods of Palestinian history, 30 of them belong to the year 1927, 30 to 1941, 30 to 1942, 30 to 1945 and 30 to 1946,” the source, who asked not to be named due to a lack of authorisation to speak to the media, told the Anadolu Agency

15.) Italy’s ‘Art Squad’ charges hoarder of rare Roman coins

Italy’s ‘Art Squad’, the police force tasked with protecting the country’s priceless cultural heritage, has confiscated rare Roman coins and other historical artefacts from a private residence.

The rarest of the coins is one of just five in existence, police said on Thursday. It dates back to the time of Emperor [Constantine] II, who was in power between 337 and 340…

Banknote News

16.) Five Billion AFs In Worn-out Bank Notes Burnt Annually

The Central Bank of Afghanistan (CBA) on Monday said they pay nearly three AFs to print every Afghani bank note and that annually they collect and burn five billion AFs worth of worn-out and old Afghani notes

17.) Two weeks before note ban, printing presses churned out old Rs 500 notes

Even 12 days before India withdrew the legal tender status of its Rs 500 and Rs 1,000 notes for nearly every transaction, the country’s currency printing presses were churning out old Rs 500 notes

18.) Fresh mystery in hunt for engraved Jane Austen £5 note as ANOTHER unusual fiver is discovered

Micro-artist Graham Short came up with an ingenious Willy Wonka-style hunt last year when he released four of the new fivers engraved with a tiny Jane Austen quote.

Could a copycat be causing mischief as hunt continues for rare note worth £50,000?

Upcoming Auctions & Events

19.) N.C. Azalea Festival Coin Show

New this year will be a Boy Scout Coin Collecting Merit Badge clinic, held 1:30-3:30 p.m. that Saturday. Confederate money expert David Meisky will provide an overview of Confederate money from 11 a.m. to noon both days

Museums & Exhibits

20.) The Pursuit of Immortality: Masterpieces from the Scher Collection of Portrait Medals

The Frick Collection recently announced the largest acquisition in its history — a gift of approximately 450 portrait medals from the incomparable collection of Stephen K. and Janie Woo Scher. Comprising superlative examples from the art form’s invention in Renaissance Italy through four centuries of its flourishing across Europe, the Scher Collection is arguably the world’s most comprehensive and significant collection of portrait medals in private hands

“Good News, Everyone…”

21.) Man’s delight after receiving rare £1 coin worth £150

A Burton pensioner spoke of his delight after being one of only 4,500 people in the country to have received a rare edition of the new £1 coin. The Royal Mint is set to release the new 12-sided £1 coins this month, with the old circular coins ceasing to be legal tender on October 15.

Despite being a limited edition, it will not be the only £1 coin to be worth more than its face value. It has emerged that 24 varieties of the coin set to be released this month are also rare, with some being worth up to £50

World of the Weird

22.) Historian claims coin from 1st Century AD is the only lifelike image of Christ

Until now, the 24mm-wide coin was believed to show the face of King Manu, ruler of the Mesopotamian kingdom of Edessa, in what is now southeastern Turkey. But after nearly 30 years of research, Ellis argues that Manu and Christ were in fact one and the same person

Just for Fun

23.) How to Become a Coin Dealer

Never forget: Know the socio-political context.

of coin minting.

24.) Jewellery made from old Icelandic coins

The cufflinks are particularly popular amongst former officers of the USA Army that used to serve in Iceland.

“Perhaps it’s about nostalgia, they probably used these coins when they were stationed here, years ago.”

25.) TV host loses the first new 12-sided £1 coin down the back of BBC Breakfast sofa

The TV presenter, together with colleague Louise Minchin, was discussing the new 12-sided coin entering circulation [March 28] when he did a ceremonial “first toss” and lost it down the famous red settee

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