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CoinWeek News Wire for October 21, 2016


By Coinweek ….

CoinWeek News Wire for October 21, 2016

Brain Food

1.) What is the Average Lifespan of a Coin?

Coins are tough little devils. Over the course of a coins’ lifespan, they will be dropped, kicked, stepped on, possibly run over by a vehicle, or involved in some children’s experiment to discover just how durable they are. Through all this along with the other endless possibilities, it is reasonable to wonder what the average lifespan of a coin is

Current Events

2.) Rare coin still missing

Late last year, the great-granddaughter of one of Australia’s most prominent artists gave a prime ministerial staffer a rare historical coin, which the staffer was to ensure was included in a rare public collection. That staffer … promptly lost the coin and resigned. The search for coin continues, but to no avail

3.) No shortage of coins, says BSP

Bangko Sentral ng Pilipinas [Central Bank of the Philippines] assures the public that there is no shortage of coins in the country.

In a recently held press briefing on BSP-Economic and Financial Learning Program (EFLP) at Aklan State University-Kalibo, Ralph William C. Meris of the BSP’s Currency Issue and Integrity Office said that the supply of coins is sufficient to support the activities in the Philippine economy…

4.) Numismatic Tourism Fuels Oveedia’s Market Rollout

“Last year, ASC International USA, organized a 5-day numismatic trip to Havana, Cuba; for enthusiasts and other interested travelers to learn about the history of Cuban coins, currency and recovered treasures,” stated Melvin Pereira, President and CEO of Pure Hospitality Solutions. “While there are hundreds of shows organized in the United States yearly, the ‘gem’ of all the Americas — being Central America and the Caribbean — as ASC International USA demonstrated, is just now truly becoming a destination of great discovery for the numismatic tourist… also known as Numismatourist, and Latin American tourism as a whole.”

5.) Legendary Woodbridge fundraiser wants your old pound coins before they vanish from circulation next year

Although we’ll have six months to get rid of our old pound coins, a Suffolk fundraiser is willing to save us the trouble for a charitable cause.

Mandy Hearle, from Melton, near Woodbridge, has become well-known for her exploits in aid of Médecins sans Frontieres (MSF), also known as Doctors Without Borders

Under the Radar


6.) Special coins for cremation ceremony

The Treasury Department plans to mint commemorative coins to mark the cremation ceremony for His Majesty King Bhumibol Adulyadej

7.) BSP in initial stages of planning for new generation coins

The central bank is now in the initial stages of creating new generation currency (NGC) coins as part of the plan to demonetize the new denomination series (NDS) coins.

“We are also planning the issuance of new generation currency coins with enhanced security features,” Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo told reporters in a briefing…

8.) Britain’s Royal Mint turns to bishop for Christmas coin design

Britain’s Royal Mint has produced the UK’s first-ever Christmas coin – and has turned to the Church in Wales’ Bishop of St Asaph, Gregory Cameron, for its design. Bishop Gregory, a former deputy secretary general of the Anglican Communion, designed the UK’s last round-pound, which was released in May

9.) Royal Canadian Mint to Unveil Circulation Coin Commemorating the 75th Anniversary of the Battle of the Atlantic

The Royal Canadian Mint [officially unveiled] a new two-dollar circulation coin commemorating the 75th anniversary of the Battle of the Atlantic before invited guests aboard HMCS Sackville (Canada’s Naval Memorial) in Halifax, NS on October 20, 2016

U.S. Mint Forum News

fuljezjeppsonOn Thursday, October 13, the United States Mint held a forum for collectors, dealers and other coin industry stakeholders. The goal was to begin an ongoing dialogue between the Mint and its customers about ways to improve its services and enlarge its consumer base (i.e., “the hobby”).

CoinWeek’s Charles Morgan and Hubert Walker wrote the first in a series of articles about the event on Friday. Other participants have since published their own takes on the forum, a couple of which are shared below.

10.) My Uplifting Numismatic Experience at the October 13 U. S. Mint Forum

I and the other experts present viewed this forum as proof of the U. S. Mint’s committed desire to stimulate the hobby, which is exciting for the future of numismatics as we approach the 225th Anniversary of the U. S. Mint next April.

I strongly believe this is great news for current and future customers…

11.) Invigorating the Coin-Collecting Hobby: United States Mint Holds a Numismatic Forum in Philadelphia

As the Mint approaches its 225th anniversary of coinage (which will be celebrated in 2017), it faces a recent trend of declining collector sales and a diminishing mailing list. The Mint sees this Numismatic Forum as the beginning of a strengthening relationship with the entire community, to reverse those trends and reinvigorate the hobby

Treasure & Archaeology

12.) A hoard of GOLD coins more than 2,000 years old was found in Ightham

A hoard of 16 gold coins from the Iron Age was found in Ightham, a treasure inquest heard today (October 19) at Gravesend Coroner’s Court in the Old Town Hall.

Peter Rathbone, from Tonbridge, discovered the ancient money in December 2015.

“These coins were found through the use of a metal detector,” said coroner Roger Hatch, “And the find is in relation to a number of coins which were found at that location.

“They were then referred to the British Museum in May this year”

Gold, Precious Metals & Bullion News

13.) Perth Mint ‘tests out’ Indian gold import excise rort

The Perth Mint sent an estimated $1 billion worth of gold to India for refining without the ­apparent consent of its Australian customers, with the West Australian government-owned refiner being dragged into a court case examining the alleged rorting of an Indian excise rebate scheme

14.) Gold Rush Legacy: A Brief History of the Perth Mint

In just five minutes, Neil Vance shares with us the incredible story of how a gold rush gave birth to the Perth Mint, how the mint evolved from striking British coins to Australian coins, and what Guinness World Record Holder hides within the massive walls of the historic Perth Mint building

Gold Rush Legacy: A Brief History of the Perth Mint from GovMint.com on Vimeo.

Crime & Punishment

coin_crime_alert15.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Fraudulent Bullion Orders

Two cases involving the use of an altered United States Postal Service (USPS) money order and stolen credit card for bullion orders has been reported by dealers.

Both cases were reported within two days of each other and shipments were to be sent to the Los Angeles, CA area.

Suspect addresses: South Figueroa St. Los Angeles, CA and E.3rd St. Los Angeles, CA. Names used were Hill and Smith.

Lost/Stolen Packages

A package being shipped from Charleston, SC to Baan, Germany has been reported lost/stolen. The package contained the following coins:

  • PCGS Obverse American Silver Eagles Struck on 3M Emory Discs (5)
  • 1987 ASE on 3M Sanding Disc MS-65 (1)
  • 1986 ASE on 3M Sanding Disc MS-65
  • PCGS American Silver Eagle Reverse Struck on 3M Emory Discs (3)
  • ND Reverse ASE on 3M Sanding Disc MS-65

A package being shipped from Portugal to the USA has been reported lost/stolen. The package contained a 1755 4000 Reis. USPS authorities advised the package reached the USA and then was returned to Portugal. Seller never received package.

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Anyone with information about the cases above should 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.


16.) Nagpur University delays filing formal complaint in ancient coins case

Not only have the precious Vakataka-era coins gone missing, but over 2,000 other artefacts have also disappeared from the museum in NU’s Department of Ancient Indian History, Culture and Archaeology since 1965

Counterfeit Cavalcade

17.) Conned for coins

He came selling Morgan silver dollars, but now Forest Park Police are looking into the sale of counterfeit coins because the dollars weren’t silver at all

18.) Have a Rs 10 coin? Check for fake

In a district where transacting with a Rs 500 currency note is next to impossible — no one takes the note fearing it would be a fake — the counterfeit coin has introduced more panic.

Police sources said Malda’s geographical proximity to Bangladesh, a known hub for counterfeit coins, was the reason for the district turning into a hub to spread fake Indian currency notes to the rest of eastern India…

19.) Here’s How Fake 10 Rupee Coins Were Manufactured; Police Busts Yet Another Racket!

The machine used for the manufacture was purchased by the mastermind behind the whole scam, Lathura Brothers [sic] for almost 5 Lakh. Ever since the police have been on a mad hunt to bust all the factories, Lathura brothers have been absconding. According to sources, they are reported to have taken refuge in South Africa

Banknotes News

20.) New from the BEP: Year of the Rooster 2017

In celebration of the upcoming Chinese Lunar New Year, the Bureau of Engraving and Printing (BEP) is pleased to announce the newest addition to its Lucky Money Collection: the Year of the Rooster 2017.

The rooster is one of 12 zodiac signs associated with the Chinese Lunar Calendar. The Lucky Money product, Year of the Rooster 2017, is exquisitely designed with decorative Chinese symbolism and is packaged in a symbolic, red folder with embossed, gold foil. This product features an uncirculated $1 Federal Reserve note with a serial number beginning with “8888.” The Year of the Rooster 2017 represents good fortune and prosperity, signifying success in the New Year. This product is sold for $5.95 and only 88,888 will be available for sale…

21.) Bank note honouring late Thai king sells fast

Thais waited patiently in long queues outside government banks on Tuesday to secure special commemorative 100 baht currency notes in honour of the late King Bhumibol Adulyadej.

The note was released five years ago by the Bank of Thailand, but interest in it was renewed after the king’s death on Oct. 13…

22.) You’ve seen the new fiver – so when will the new £10 note come in?

By now you’ll have seen plenty of the new polymer fivers – the smaller, virtually indestructible notes which were introduced last month.

But the £5 note isn’t the only one which is moving to the new material. Both the £10 and £20 note are going to be produced in polymer versions, which the Bank of England prefers because they are more durable – as we found when we left one on a tram track – and harder to counterfeit.

Here’s what you need to know about the changes to both notes…

23.) Secret treasure: Historic banknote found inside ancient Chinese sculpture

Upon closer inspection, the unassuming parchment turned out to be a 700-year-old Ming Dynasty banknote — among the earliest printed currency in China

24.) Canada considered ditching Prince Charles from $20 bank note if Queen died

The Bank of Canada considered dispensing with tradition and removing the British monarch from its bank notes in the event of Queen Elizabeth II dying or abdicating.

The issue of Queen Elizabeth’s death came up several times at the Bank of Canada between 2007 and 2015, according to documents obtained by Reuters under access-to-information laws…

Museums & Exhibits

georgeviiigold25.) Rare Edward VIII coin that was scrapped because of abdication will go on display

The Royal Mint was due to start producing the gold sovereigns but scrapped the designs when Edward stood down after a 326-day reign on December 10, 1936. The coin will go on show at the Royal Mint Museum near Cardiff for the 80th anniversary of the abdication this year

Upcoming Auctions & Events

26.) Golden Dinar Dating Back to Umayyad Caliphate Put Up for Auction in London

Morton & Eden, Auctioneers of Coins, Medals and Paper Money are putting up for auction a rare coin which belongs to the era of Al-Walid who is an Umayyad Caliph that ruled from 705 AD until his death in 715AD. The valuable currency is estimated to be worth £300,000 Pound Sterling…

ANS News

27.) Mark M. Salton Memorial Lecture

“Roman Coins, Money and Elizabethan Society: an Unknown Work by Sir Thomas Smith,” will be the topic of the 2016 Mark M. Salton Memorial Lecture by Dr. Andrew M. Burnett, ANS Trustee and former Deputy Director at The British Museum. The lecture will take place at the ANS headquarters in New York City on Thursday, October 27, 2016 at 6:00 pm. A reception will begin at 5:30 pm. Reservations are required – RSVP to [email protected] or 212-571-4470 ext. 117.

Just for Fun?

28.) Putting a Coin Over an Umbilical Hernia

Dr. Daniel Hechtman explains what could happen if you follow the old wives tale and put a coin over an umbilical hernia. ..

29.) Here’s Why You Should Put a Coin on Top of Frozen Water If You Have to Leave Your Home For a Long Time

A few weeks ago, when the nation was bracing for the impact of Hurricane Matthew, nearly 2 million people were told they needed to evacuate their homes.

That’s when Sheila Pulanco Russell decided to share a clever tip on how to tell if the electricity went out in your home while you were gone…

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