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HomeNewsNews WireCoinWeek News Wire for October 6, 2017: Australia 5 Cent, Money Evolves,...

CoinWeek News Wire for October 6, 2017: Australia 5 Cent, Money Evolves, Wu-Tang Clan…

By Coinweek ….

CoinWeek News Wire for October 6, 2017:

Brain Food

1.) INFOGRAPHIC: 58 Insane Facts About Bitcoin

You probably have heard a lot of people talking about Bitcoin recently, so you’ll want to save this infographic via BitcoinPlay.net to learn what Bitcoin is, when it started, and who uses this cryptocurrency the most

2.) From gold bits to fitbits: payments through history

With [Australia and New Zealand Bank] announcing the option to use the exercise bracelet Fitbit [to] pay for purchases, we take a look back through the ways we’ve paid throughout the years

Under the Radar

3.) New R5 coin launches in South Africa

In commemorating the birth centenary of Oliver Reginald Tambo, SA Mint, subsidiary of South African Reserve Bank (SARB), is producing a new R5 circulation coin. Tambo, along with Nelson Mandela and Walter Sisulu, were the founding members of the ANC Youth League in 1943, becoming its first National Secretary and a member of the National Executive in 1948

4.) New Perth Mint The Next Generation Coin

The Star Trek: The Next Generation Crew 30th Anniversary 2017 2oz Silver Proof Coin was struck in honor of the 30th anniversary of the show

5.) Borneo Issues Commemorative BND25 Silver Jubilee Note

Embellished in shades of purple, the front of the note features a portrait of His Majesty in the Royal Brunei Armed Forces ceremonial uniform and an image of the Royal Procession that took place after the Coronation Ceremony in 1968. The design is completed with an image of the Omar ‘Ali Saifuddien Mosque, one of the country’s major landmarks.

Meanwhile, the reverse side of the note depicts the historic occasion where His Majesty was crowned by His Majesty’s late father, Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien ibni Al-Marhum Sultan Muhammad Jamalul Alam as the 29th Sultan and Yang Di-Pertuan of Brunei Darussalam. The note also reveals the Mahkota used to crown His Majesty during the Coronation Ceremony

6.) New coins created to mark the Queen’s wedding anniversary

The set of double-headed platinum coins, showing both the Queen and Duke of Edinburgh, have been created as the pair become the first royal couple to celebrate a platinum wedding anniversary. The combined portrait was designed by sculptor Etienne Milner to represent a sense of duty, with Philip supporting the Queen in his role of royal consort. The horseback image was created by artist John Bergdahl to reflect the couple’s passion for all things equestrian.

The Royal Mint said the collection which includes a gold proof, fine silver, silver proof and a brilliant uncirculated coin ranges in price from £5 to £20.

The coins will be released next month.

7.) Royal Mint UK is releasing a special commemorative coin for Christmas

The Royal Mint is releasing a commemorative coin for Christmas, and it has a traditional festive theme. It features a fir Christmas tree, decorated with baubles and lights, as well as a star on the top.

The silver £5 coin will be available to buy from Monday, October 9

Current Events

8.) Can the Government Destroy Bitcoin?

For starters, one must recognize that monetary demand — that is, the demand to use an item as a medium of exchange — is not quite like the demand for most other goods. Monies are subject to network effects. I can enjoy a fine bathtub gin even if no one else does. But the usefulness of a would-be money like bitcoin depends crucially on whether other people are using it

9.) Gimmicks are meant for collectibles, not investments

The issuance of these coins is meant for one purpose – a revenue stream for the governments – since they are sold to collectors at a substantial profit over the cost of production. Consider the commemorative coins and sets the U.S. Mint has been striking since 1984, now with numerous designs released every year

10.) Old 50 Georgian tetri coins losing legal tender status

The National Bank of Georgia (NBG) is already warning people that the end of the old 50 tetri coins, first issued in its current shape and size in 1995, is nigh. Starting from January 1, 2018 these 50 tetri denominations will lose legal tender status and their use as payment

11.) Keep the change, please: Australians reject coins as not worth the weight

Almost all Australians – 93% – have thrown away a five-cent coin for being annoying to carry, according to a study of more than 1,000 people by the banking group ING.

More than one in four (28%) of respondents said they hated carrying coins, and 49% said they would regularly make payments on mobile when possible

12.) Christine Lagarde: Cryptocurrencies Should Not Be Ignored by Governments

International Monetary Fund (IMF) chief Christine Lagarde said that virtual currencies should not be dismissed outright by various governments around the world. She further claimed that the digital currencies could provide conventional government-issued tenders a “run for their money.”

13.) European Central Bank ‘Does Not Have Authority’ to Regulate Bitcoin: ECB President

European Central Bank (ECB) president Mario Draghi stated that the agency does not have the authority to regulate bitcoin and other cryptocurrencies

Bitcoin & Cryptocurrency

14.) Disney Built a Blockchain

In 2014, Disney’s tech-focused Seattle office started building what’s now known as Dragonchain, a blockchain protocol designed to allow for more data privacy than is possible on other enterprise-oriented blockchains like Ethereum. The idea was to develop a secure asset management system to be used internally.

However, Disney dropped the project in 2016 and decided to make it open source. Soon after, a group of former Disney employees founded the Dragonchain Foundation, a non-profit which manages upkeep of the protocol.

Now, they’re looking to build a commercial business — called Dragonchain Inc. — on top of the platform to help other companies quickly and easily start using blockchain

15.) Dubai Will Issue First Ever State Cryptocurrency

The local government in Dubai has officially launched its own cryptocurrency called emCash, according to announcements by local news media outlets. The cryptocurrency would be used for payment of governmental and nongovernmental services

16.) Goldman Sachs CEO: ‘No Conclusion’ on Bitcoin Yet

A day after it was reported that Wall Street investment giant Goldman Sachs is weighing whether to launch a bitcoin trading operation, its influential CEO took to Twitter to voice an open – yet decidedly neutral – position on the cryptocurrency.

“Still thinking about bitcoin,” CEO Lloyd Blankfein wrote on the social media platform, going on to say that he wasn’t giving his approval or disapproval

17.) The Feds Just Collected $48 Million from Seized Bitcoins

The U.S. Justice Department has claimed the proceeds from the sale of 144,336 bitcoins, valued at just over $48 million, that it obtained after shutting down the notorious online drug market Silk Road in 2013.

While the government had already sold the bitcoins in a series of auctions in 2014 and 2015, the creator of Silk Road, Ross Ulbricht (aka Dread Pirate Roberts) had challenged the legality of the forfeiture.

[We wonder if people would seek out these “pedigreed” bitcoins, since the past transactions are lodged forever in the blockchain. —CoinWeek]

18.) Wu-Tang Clan’s Ghostface Killah launching cryptocurrency

Dennis Coles, aka Ghostface Killah of the Wu-Tang Clan, has co-founded a cryptocurrency company called Cream Capital. The name comes from the Wu-Tang Clan’s 1993 jam “C.R.E.A.M. (Cash Rules Everything Around Me)”. Apparently, the company now holds the trademark on the phrase “Crypto Rules Everything Around Me”. Cream Capital is planning an initial coin offering on November 11 to raise $30 million. Apparently those tokens can be traded for Ether on the Etherium blockchain

19.) US State Department to Host Blockchain Forum on October 10

According to the group, the mission of the event is to “explore both the policy implications and potential applications” of the tech within the context of US diplomatic efforts. Furthermore, the workshop will also lecture about how Blockchain can assist with various global issues, including humanitarian crises

20.) Guns & Crypto: How Bitcoin Is Helping Keep Cody Wilson’s Anarchist Dream Alive

A self-described cryptoanarchist, Wilson’s work with both 3D-printed guns without serial numbers, and cryptocurrency itself, is part of his work to circumnavigate government controls – an idea that some members of the cryptocurrency community have proved particularly responsive to

21.) First Cryptocurrency for God: Christ Coin

Christ Coin will operate in a slightly different manner than other cryptocurrencies. There will be the possibility to earn more coins through acts of charity and religious practice. For example, reading the Bible, volunteering, and joining church events. It is unclear how that will be measured and what exact amount of money will be given

Banknote News

22.) Queen Elizabeth’s life in banknotes

A cool gif we found on Twitter. Not sure who created it, but it features the portrait of Queen Elizabeth II as it has appeared on various nations’ banknotes over the course of her life.

Queen Elizabeth II as she has appeared on banknotes issued throughout her life

23.) Pupils launch new RBS polymer bank note into space

Primary school pupils in Perthshire have helped Royal Bank of Scotland launch its first plastic £10 bank note – by sending it into the edge of space. Children from St Stephen’s and Newhill Primary schools in Blairgowrie used a weather balloon to send the new note 38,500 metres into the earth’s atmosphere from their shared campus.

The note features celebrated Scottish astronomer Mary Somerville

Crime & Punishment

coin_crime_alert24.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Million Dollar Theft of Canadian Coins & Currency

A prominent Canadian coin dealer, Joseph Iorio of J and M Coins in Vancouver, had virtually his entire travelling coin inventory stolen earlier this week. It includes some serious rarities and almost certainly in excess of $1 million.

Mr. Liorio advised that he was arriving to attend the Toronto Expo and stopped to check-in at his hotel. He went inside for just a few minutes and upon his return to his vehicle found that two cases containing his inventory was gone.

A reward for the recovery of the high-end Canadian coins and banknotes has doubled to $200,000.

“I just want my inventory back and I am willing to pay a good reward for its return,” Iorio told Canadian Coin News.

Stolen Coins and Currency

Please contact the NCIC’s Doug Davis if you have any questions or 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.

25) Scot’s fake banknote ordeal ‘almost over’ in United Arab Emirates

A charity representing an Edinburgh man held in Dubai over a forged banknote says he is due to fly home on Thursday after having his passport returned. William Barclay was facing up to a year in jail after being accused of trying to exchange a fake £20 note during a family holiday last September

Gold, Precious Metals & Bullion

26.) U.S. Mint American Silver Eagle Q3 coin sales at 10-yr low

Sales reached nearly 3.7 million ounces in the third quarter, the lowest quarterly sales since 2007. On a monthly basis, they were at 320,000 ounces in September, the lowest since December 2016 and down 81 percent from September 2016

27.) Xinhua: China proven gold reserves at 12,100 tonnes at end of 2016

China’s proven gold reserves reached 12,100 tonnes at the end of 2016, the state news agency Xinhua reported on Monday quoting an official with the national gold association.

China has been the world’s biggest gold producer for 10 years and the largest consumer of the metal for four years, it said. China aims to increase its annual gold output to 500 tonnes by 2020 from around 450 tonnes currently, it said

Treasure & Archaeology

28.) 320-year-old coin unearthed in Pickering garden

Judy Catterall was working in her garden last Saturday with her husband Phil at their home in Pickering, not far the town’s castle, when she spotted the silver disc in the earth. The coin is a 1696 silver sixpence from when William III – known as William of Orange – was on the throne


A vessel full of silver coins was discovered in the spring of this year in a forest near the village of Řeteč in the Písek region, by a woman who was walking her dog. Half of the coins date back to the rule of Spytihněv II, while the rest to the era of his father, Břetislav I

Medals, Tokens & Exonumia

30.) Making Medallions at MIT

Each year, the Department of Materials Science and Engineering gives its graduating students a bronze medallion of the MIT seal. These medallions are entirely prepared, cast, and finished by students in the Merton C. Flemings Materials Processing Laboratory using the lost-wax/investment casting process. All are welcome, no experience necessary

31.) Casino Collectible News wins ANA award

The “Casino Collectible News,” a publication of The Casino Chip & Gaming Token Collectors Club, Inc., d/b/a/ Casino Collectible Association, has been awarded the Outstanding Specialty Numismatic Publication Award by the American Numismatic Association

32.) Meet Kevin McCormick, the man who made it his mission to return Canada’s lost military medals

“I took to searching and finding through auction sites and online opportunities, artifacts, letters and medals and other personal items of soldiers who have given their life in service of our country, and then [finding] a way to relocate those items with an appropriate home,” McCormick said.

He calls it Project Honour and Preserve. Over the past four years, McCormick has acquired more than 100 items, mounted them in shadow boxes and brought them home.

He added that he doesn’t care how the items ended up on the market in the first place

Upcoming Auctions & Events

Worthy Additions to your Library

33.) Royal Commemorative Medals 1837-1977. Vol. 4. Edward VII, 1901 – 1910

This new, improved and expanded edition, with valuations and rarity ratings, size 210 x 297mm with glossy card cover, is well-illustrated throughout with many hundreds of high-quality colour photographs, including many of the different suspension types and ribbons.

There are indexes of obverse and reverse legends, makers, designers, die cutters and publishers, and an index of registered design numbers as well as a general index, so as to make finding a particular medal easy. There is a concordance with Brown’s British Historical Medals, and a list of number changes since the first edition.

World of the Weird

34.) Minister Ulyukaev turned out to be numismatist

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    • Hopefully it is understood that we are quoting a lot of different news sources in News Wire, and not all of them are from countries where English is the predominant language (though we visit the English version of their website when we can). Having said that, ouch indeed, it is fixed.


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