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HomeNewsCoinWeek News Wire for November 25, 2016

CoinWeek News Wire for November 25, 2016


By Coinweek ….

CoinWeek News Wire for November 25, 2016

Brain Food

1.) Q&A: Erik Goldstein

Erik J. Goldstein is the senior curator of mechanical arts and numismatics at the Colonial Williamsburg Foundation and has been in this position since 2002. A student of military history and numismatics, he has lectured widely and instructs a three-year syllabus on Colonial American coins, medals and paper money at the annual American Numismatic Association’s Summer Seminar

2.) Ali Rajabli’s speech on historical Azerbaijani coins

History of Azerbaijani monetary circulation accounts more than 2000 years, yet numismatic science of Azerbaijan is relatively young

3.) Dose of history: How paper currency came in India 150 years ago

As British trade expanded in India, the use of paper notes did too. Eventually, paper notes that featured a picture came into being; an image of a female figure representing the British queen. They also began carrying the publishing bank’s name and the denomination in Urdu, Bengali, and Nagri

Current Events

4.) Greek MOU Extended Not Expanded

Import restrictions on Greek cultural goods have been extended but not expanded despite the best efforts of the archaeological lobby to include all coins made or potentially found in Greece (Current restrictions encompass many archaic, classical and provincial types, but exclude Ancient Greek “trade” coins like Athenian Tetradrachms).

Despite this “win,” CPO hopes the new Trump Administration will review all current MOUs…

5.) 50 paise coin losing its sheen in market

The Reserve Bank of India (RBI) says that 50 paise coin is still a legal tender. But, from shopkeepers to traders, laundrymen, rickshaw pullers, bus commuters and provision store owners, the smallest denomination of the Indian currency is simply not acceptable any more. Even beggars do not accept a 50 paise coin these days

Under the Radar

6.) A golden opening day at the Abu Dhabi Grand Prix

The moneyed world of Formula One was epitomized on Friday when a 5kg Formula One gold coin was unveiled on the first day of the Formula One Etihad Airways Abu Dhabi Grand Prix

7.) Richie Benaud honoured with 50 cent coin in Australia

He was called “the voice of cricket” and now legendary commentator Richie Benaud will be the face of a 50 cent coin in Australia

8.) Portugal National Mint unveils limited edition Iberian Lynx coin

Designed by sculptor Luís Valadares, the Iberian coin and the series were launched on Tuesday in Mértola, in the Baixo Alentejo, alongside a new children’s book on the Iberian Lynx. A part of the revenue from both will go towards the ICNF’s Biodiversity Nature Conservation Fund.

The ‘Endangered Species’ series aims to raise awareness about national endangered flora and fauna. The Mint is to produce a limited number of 2,500 Iberian Lynx coins in silver, plus 75,000 coins in cupronickel…

The Future Is Now


9.) With Bitcoin, Hayek’s Dream of Complete Private Money Comes Ever Closer

“We are in a moment in time with negative interest rates, we are facing probably the end of a phase in the fiat currency monetary policy. I mean, I see negative interest rates as a failure of the current governance model. So this is the right time in history to have private alternatives, private money which might be competing with government’s so-called money”

10.) IRS Wants Court Authority To Identify Bitcoin Users & Transactions At Coinbase

Last week, the Department of Justice (DOJ) filed paperwork in federal court … requesting the identities of United States Coinbase customers who transferred convertible virtual currency at any time between December 31, 2013, and December 31, 2015. Coinbase, which is headquartered in San Francisco, California, is a company which facilitates transactions of digital currencies like bitcoin and Ethereum

Gold, Precious Metals & Bullion News

11.) Platinum market deficit set to shrink in 2017 – WPIC

The platinum market deficit will shrink to its narrowest since 2011 next year, the World Platinum Investment Council said on Tuesday, as a drop in investment and diesel’s waning share of the European car market pressure demand

12.) Ghana Opens Second-largest Gold Refinery in Africa

The West African nation Ghana is known as one of the top gold-producing countries in the world. From the most recent data, it ranks as #10 on the planet, and is second in the continent of Africa behind only South Africa. On an annual basis, the national gold output of Ghana is consistently above 90 metric tonnes.

Now, thanks to the Egyptian company Euroget Group, Ghana will also boast the continent’s second-largest gold refinery (behind the South African Rand Refinery)…

13.) Islamic gold standard to debut in December; price jump expected

Islamic scholars at the Accounting and Auditing Organisation for Islamic Financial Institutions in Bahrain are reportedly in the final phase of creating an acceptable standard for Muslims to trade in gold, a regulation set to become effective next month that will allow Muslims to trade physical gold and gold-related financial instruments. The council is working with London-based World Gold Council on all technical and ethical issues

Crime & Punishment

coin_crime_alert14.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Stolen Note

The Mandeville Police Department is investigating the theft of a very rare prototype 1928A $1 US Silver Certificate SPECIMEN bearing serial number 000000. The specimen was packaged in a PMG Paper Money Guaranty holder with label bearing certification number 1606400-017 for the certificate face and certification number 1606401-001 for the certificate back.


Anyone with information about this case should contact Detective Jason Redeaux at (985) 624-3119 or (985) 231-9416.

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Fraudulent Cashier’s Check

The female pictured below used a fraudulent cashier’s check for the purchase of $16,000 in bullion. The female used a Texas driver’s license that shows no record found.

The check was made out on the First National Bank Wentzville, MO. The routing number on the check turns out to be a Bank of America number.

Suspect picture, courtesy NCIC

Name on Texas DL: Carmen Febus

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Anyone with information about any of the cases above 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.


15.) Armed robbers strike gold-coin shop as Sunday morning crowd carry on shopping

A group of armed robbers posing as customers robbed The Scoin Shop in the Walmer Park Shopping Centre in Port Elizabeth [South Africa] of hundreds of thousands of rands in cash and rare coins during a daring heist inside the busy centre yesterday.

Just 15 minutes later, two men attempted to rob a shop inside the Cleary Park Shopping Centre in the northern areas…

Banknote News

16.) Seven Years in Jail for Defacing Bond Notes

Zimbabweans who may choose to inflict any form of damage on bond notes could face imprisonment up to seven years

norwaynotes17.) ‘World’s most beautiful banknotes’ debut in Norway

Norway’s central bank unveiled the nation’s new bank notes on Tuesday and it doesn’t take a super keen observer to see what is different about them

18.) What will India do with 23 billion banned notes of Rs 500 and Rs 1,000?

Come December 31, when rest of the world will welcome the New Year, the Reserve Bank of India (RBI) will be trying to sort out a unique situation on how to deal with more than 23 billion worthless bank notes. The pile is likely to be 300 times the height of Mount Everest. It could even be long enough to reach the moon and back five times

Medals, Tokens & Exonumia

19.) Coin buff brings mint idea to reality

The coin took about four months of planning and Mr Felesina designed it himself.

“It’s not a common thing to have made,” Mrs Felesina said. “There are places which have a tourist dollar but nothing like this.”

The coin was released on Tuesday and 30 had been sold by lunch time on Wednesday.

The numismatologist said it was the first of the four Bundaberg coins to be made of pure silver…

20.) Here’s who left coins “good for one free dram” all around Denver

Hearth & Dram … will also offer a selection of more than 350 kinds of whiskey, so don’t lose that coin. It will also have whiskey on tap, an extensive cocktail menu, local beers and wine. Really ambitious whiskey drinkers will be able to opt for table-side cart service featuring reserve whiskey cocktails

Treasure & Archaeology

21.) Unique Arabic coin of VIII century found in Derbent

“This coin is a copper groat. The fine coinage of the governor of Armenia and Azerbaijan. That time, it was one huge province in the system of the Arab Caliphate. The coin is unique, such findings, we can count on the fingers,” Gajiyev noted

22.) Mysterious Items Found in 2000-Year-Old Cooking Pot

On each lamp, someone carefully placed a bronze coin. Most of the coins date from 66-67 AD, during the reign of the Roman emperor Nero. Each coin was of very low value, and was likely used in a symbolic gesture.

The pot also contained charred bone pieces…

23.) Workmen Find Eighteenth-Century British Coin Under Newport Lawyer’s Driveway

Caetano, of Fall River, Mass., had found a pre-Revolutionary war coin. He knocked on the homeowner’s door.

Former Newport Councilor Mike Farley answered, and Caetano gave him the 1730 British coin.

“Okay, that’s yours,” he told Farley…

Museums & Exhibits

24.) Help us save King Alfred’s coins

The Ashmolean has a unique opportunity to acquire the momentous Watlington Hoard. The first large Viking hoard discovered in Oxfordshire, it contains over 200 Anglo-Saxon coins, including many examples of previously rare coins of Alfred the Great, King of Wessex (871-899) and his less well-known contemporary, King Ceolwulf II of Mercia (874-879)

Upcoming Auctions & Events

“Good News Everyone…”

25.) French man discovers gold coins and bars worth €3.5m in inherited house

“There were 5,000 gold pieces, two bars of 12 kilos and 37 ingots of 1 kilo,” Nicolas Fierfort, a local auctioneer, told AFP, confirming a report in the local La Depeche newspaper.

Fierfort, who had visited the house to value furniture offered for sale by the new owner, said the loot, which was worth €3.5m ($3.7m), was “extremely well hidden”

Just for Fun

26.) Can you solve this baffling 100-year-old coin puzzle in just four moves?

Make these eight coins into an O from the starting H position

27.) KIN – World’s first wallet that sorts your cash in a cinch

KIN is a beautiful everyday wallet that solves your everyday problem of keeping change. The wallet offers a simple solution to manage an age old dilemma, and is designed to manage coins and cash efficiently in ways not imagined!

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Coinweek is the top independent online media source for rare coin and currency news, with analysis and information contributed by leading experts across the numismatic spectrum.

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