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HomeNewsNews WireCoinWeek News Wire for November 10, 2017: Billionaires and Bitcoin

CoinWeek News Wire for November 10, 2017: Billionaires and Bitcoin

By Coinweek ….

CoinWeek News Wire for November 10, 2017 – Additional numismatic news that may not be major headlines but are interesting nonetheless.

Brain Food

1.) Israel’s ancient underwater treasure

In 2015, divers discovered a hoard of more than 2,000 gold coins on the ocean floor off the coast of Caesarea – the largest stash ever found in the region

2.) Why Soviet communist countries had a love-hate relationship with money

“What happened with communist notes was that this intense upheaval that took place during the time of revolution and the need to put propaganda and state ideology on notes led to the real flourishing of designs and the production of some of the most dynamic designs that have ever adorned a bank note,” says Hockenhull.

As well as these extravagantly adorned bank notes, some states were also simultaneously undermining their currency by ensuring they looked and felt worthless. In East Germany the government made coins out of the light, cheap metal aluminium to emphasise its meaninglessness which in turn caused the coins to be given the nickname ‘alu-chips.’

Under the Radar

3.) New Star Trek: The Next Generation Perth Mint Coins

The Next Generation 30th Anniversary Coin features Patrick Stewart as Jean-Luc Picard and Locutus. The 99.99% pure silver 1 oz. coin comes with presentation packaging and a numbered certificate and costs $79.89 US ($104.55 AUS).

4.) Pakistan to issue special coin in honor of Dr Ruth Pfau

Prime Minister Shahid Khaqan Abbasi on Tuesday authorised the issuance of a commemorative coin in honour of late humanitarian Dr Ruth Pfau, who dedicated a lifetime to fighting leprosy in the country.

The government has authorised the State Bank of Pakistan to issue a coin worth Rs50 in recognition of Dr Pfau’s service. The SBP will issue 50,000 commemorative coins of Rs50 each

5.) Perth Mint banks on world-first figure eight silver coin

The Perth Mint has released a world-first silver coin in the shape of a figure eight. Likely to be a hit with Chinese coin collectors and buyers, only 8,888 of the 2oz, 99.99 per cent silver coins will be released at a recommended retail price of $218.

Bitcoin & Cryptocurrency

6.) ‘Buy Bitcoin’ Overtakes ‘Buy Gold’ as Online Search Phrase

According to Google Trends, global searches for “buy bitcoin” have overtaken “buy gold” after previously exceeding searches for how to purchase silver. Last month, the amount of gold changing hands on BullionVault’s online trading platform dropped by almost a third from the 12-month average

7.) Bitcoin has no future because of its anonymity, SocGen CEO says

“I can’t see a future of this when I see the attention played by all governments and regulators on anti-money laundering, on anti-tax evasion, on anti-terrorism financing. The anonymity of the transaction is a problem I think which would put pressure on bitcoin.”

8.) Securities and Exchange Commission Accuses Day Trader of Using Bitcoin to Hide Profits

In the case filed on Oct. 30, 2017, the accused has unlawfully taken over more than 100 brokerage accounts and used the victim’s’ funds to artificially increase stock prices then trade against them to gain high profits.

In its press release, the SEC claimed that Willner has utilized the services of an unnamed Bitcoin exchange to convert the funds from US dollars to Bitcoin to hide his profits

9.) Deutsche Bank Strategist Says End of Fiat-based Currency Systems Near, Recommends Bitcoin

…[S]trategies being used to control inflation like loose policies, extensive leverage, and continuous printing of money may lead to the end of paper money. This is because consumers around the world will lose faith in the system as fiat currencies continue to lose their value.

Reid further stated that to help mitigate the risks of financial collapse, the use of virtual currencies should be promoted around the world. He reasoned that due to their decentralized nature, cryptocurrencies cannot be controlled by the governments but by the organic laws of the economy, particularly the supply and demand in the market

10.) Tim Draper On Bitcoin: ‘In 5 Years If You Use Fiat Currency, They Will Laugh At You’

Draper’s DFJ Venture Capital has long been bullish on Bitcoin. He famously bought 30,000 Bitcoin in 2014 in a government auction of assets seized from Silk Road, the online black market. At the time, it was worth under $20 million.

Today, that same 30,000 Bitcoin is worth almost $214 million dollars

11.) Bitcoin Is “A Brilliant Collectible”: Mark Cuban

The prolific investor noted that it would be hard for cryptocurrencies like Bitcoin and Ether to become actual currencies, because only a limited amount of transactions can be done, owing to the expense and time involved. However, Cuban pointed out, they had value in that they were collectible digital assets.

“It’s [Bitcoin] a brilliant collectible that’s probably more like art than baseball cards, stamps, or coins, right, because there’s a finite amount that are going to be made, right? There are 21.9 million Bitcoins that are going to be made.”

The potential for block chain solutions and crypto coins to enter use in maritime industries has been increasingly discussed, but Australian researchers warn that that quantum computers could jeopardize the security of current cryptocurrencies in as little as 10 years time

Current Events

12.) Huntington-based coin club formed

Cecil Starcher, Secretary of the Mountain State Numismatic Society, has announced the formation of new coin club in Huntington, according to a news release. According to Starcher it has been years since there has been an active club, and with MSNS’ coin shows being hosted in the area interest in organizing had been steadily growing.

Visit the MSNS website at www.msnswv.org for more information.

13.) Why Unesco Needs the United States

With its misguided decision, the United States is forfeiting its leadership in a cause on which Unesco and its partners in the United States, Europe and beyond are finally making progress: protecting art, sacred buildings and other historic treasures from deliberate attacks during armed conflict

14.) CBL declares new coin dinar as null and void

[T]he Central Bank of Libya has declared that the new coin dinar currency issued by the parallel Central Bank in eastern Libya is not to be dealt with in any form.

The Central Bank of Libya reiterated that it’s the only institution that has the authority to issue new currency. The parallel Central Bank in Bayda announced the launch of a new coin dinar currency for trading on the second of November, to be traded alongside the current paper category

Crime & Punishment

coin_crime_alert15.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Residential Burglary

The Los Angeles Police Department is investigating a residential burglary that resulted in the loss of the following collection.

Stolen Coins

Lost UPS Package

A Package being shipped to Watertown, MA has been reported Lost/Stolen. The package contained the following coins:

  • 1934 Walker PCGS MS66+ CAC Last Four of Serial 2019
  • 1934-S Walker PCGS MSGG CAC Last Four of Serial 8535
  • 1935 Walker PCGS MS66 CAC PQ Last Four of Serial 0027
  • 1935-D Walker PCGS MS65 CAC PQ Last Four of Serial 9887
  • 1936-D Walker PCGS MS66+ CAC PQ Last Four of Serial 1607
  • 1937 Walker PCGS MS66 CAC Dakota Last Four of Serial 3757
  • 1938 Walker PCGS MS66 Last Four of Serial 3842
  • 1939 Walker PCGS MS66 CAC PQ Dakota Last Four of Serial 5772
  • 1939-D Walker PCGS MS66 CAC PQ Last Four of Serial 1691
  • 1940 Walker PCGS MS67+ CAC PQ Last Four of Serial 2998
  • 1941 Walker PCGS MS67+ CAC PQ Last Four of Serial 1725
  • 1941-D Walker PCGS MS66 CAC OGH Last Four of Serial 9879
  • 1942 Walker PCGS MS66 CAC PQ Last Four of Serial 3741
  • 1942-D Walker PCGS MS66 CAC PQ Last Four of Serial 2253
  • 1942-S Walker PCGS MS65 CAC PQ Last Four of Serial 1166
  • 1943 Walker PCGS MS66 CAC PQ Dakota Last Four of Serial 5963
  • 1943-D Walker PCGS MS66+ CAC Last Four of Serial 2619
  • 1945-D Walker PCGS MS66+ CAC PQ Last Four of Serial 3854
  • 1945-S Walker PCGS MS65 PQ Last Four of Serial 3681
  • 1946 Walker PCGS MS67 CAC PQ Last Four of Serial 4357
  • 1947 Walker PCGS MS67 OGH PQ Last Four of Serial 1425

Assistance Needed

The Numismatic Crime Information Center on behalf of law enforcement is looking for anyone who has done business with an individual identified as Ken Shearn.

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].

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

16.) Detective work pays off in gold find

Detective work from the WA Police’s Kalgoorlie-based gold squad could end up playing a part in a big discovery in the northern Goldfields.

About $12,000 worth of gold was taken by two Eastern States prospectors without the required Section 40E permits from an exploration lease held by junior explorer Magnetic Resources at its Mertondale Gold Project in July. They later each received spent convictions and $2000 fines, with the gold forfeited to the crown, ensuring the find was reported

17.) Burglar Smashes Hole Through Wall To Steal Collectible Coins

The thief ran off with several thousand dollars’ worth of coins. But how the thief managed to get inside surprised everyone from the owner to his customers

18.) Man stole nearly $100,000 in gold coins from couple, police say

Handyman Carlos Ceballos snatched 44 gold coins from a Riviera Beach couple and pawned them for $24,045, according to a police report. The actual value of the coins was $90,024.

Joseph and Gail Chayka — speaking through their daughter — claim 80 of their 193 gold coins, valued at $163,680, were stolen from their safe

19.) Stockholm museum employee ‘stole exhibits worth 1.2 million kronor’

The man, who worked at the Royal Coin Cabinet in the capital’s old town, said he stole coins from the museum’s vault and smuggled them out in his pockets before selling them to a coin dealer.

He has been charged with stealing objects from both the Royal Coin Cabinet and Gothenburg City Museum, receiving a total of 1.2 million kronor in payment

Banknote News

20.) Malawi government to introduce K5,000 banknote

Normally when a bigger banknote is introduced, people normally associate the development with increase of prices of goods to follow, however, the Minister informed the public that this is not true

Metal Detecting, Treasure & Archaeology

21.) Paul Allen: The billionaire who is fond of shipwrecks

Allen founded Microsoft, together with Bill Gates, in 1975. He left Microsoft in 1983 after he was diagnosed with Hodgkin’s disease, and has recovered since. Because of the success of Microsoft, Allen became a billionaire at just 30 years old. The 64-year-old is the 42nd richest billionaire in the world, with an estimated net worth of $20.6 billion

22.) Odyssey Marine Exploration reports nearly nothing in revenue

The deep-sea exploration company reported just $11,854 in revenue, down from $2.9 million the same quarter last year. The company’s previous multi-million-dollar revenue came from a contract with Magellan Offshore Services, for which Odyssey conducted shipwreck expedition services

23.) Medieval coin from 13th century France is declared to be treasure

Barrie Cook, from the British Museum, studied the coin and confirmed it was not used as currency and that it can be traced between the years of 1241-1279.

“Piedfort’s are unsual objects and their actual purpose has never been established. One potential use was that they were made for use of important officials.

“The coin weighed 2.6 grams – a usual piedfort weighs one gram. There are no records of piedforts being found in a hoard. No examples of the coinage from which this piedfort derives have, to my knowledge, been found in England.”

Single precious coins do not usually constitute treasure under the Treasure Act 1996, but it was noted that this coin contained “sufficiently high level” of silver.

Medals, Tokens & Exonumia

24.) Vietnam veterans honored with special coins at Boulder City veterans home

After filmmaker Ken Burns’ documentary on the Vietnam War aired on public television, Vegas PBS decided to do more to thank Vietnam veterans in Nevada. The public television station designed coins with the shape of Nevada and an American flag on one side and the Vegas PBS emblem and a soldier saluting on the other. The coins were sponsored by the Veterans United Foundation

Upcoming Auctions & Events

Just for Fun

25.) Nobel-Winning Physicist Worried About 100 Chocolate Coin Wager Over New Particles

Supersymmetry, or SUSY, is the theory at the center of the bet. Essentially, some of particle physics’ woes and theories currently fixed with bandaids would make a whole lot more sense if we found an entirely new set of particles. These particles are also candidates for the elusive dark matter, the stuff that makes up most of the mass of the universe whose identity scientists are still unsure of

26.) Christmas Tree Made from 2017 Vienna Philharmonic Coins on Display at GINZA TANAKA

Renowned precious metal store GINZA TANAKA marked its 125th year since establishment in 2017. GINZA TANAKA created a Vienna Philharmonic Coin Golden Christmas Tree (not for sale) made from 2017 Vienna Philharmonic coins (worth 350 million yen), which are issued by the Austrian Mint and will display it on the first floor of its GINZA TANAKA main store (Chuo-ku, Tokyo) during the Christmas season from November 9 to December 25, 2017. This is the first Christmas tree in the world to be made from Vienna Philharmonic coins

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