HomeAuctionsCoinWeek News Wire for September 23, 2016

CoinWeek News Wire for September 23, 2016


By Coinweek ….

CoinWeek News Wire for September 23, 2016

The Future Is Now

1.) Bitcoin is money, U.S. judge says in case tied to JPMorgan hack

“Bitcoins are funds within the plain meaning of that term,” [Judge Alison] Nathan wrote. “Bitcoins can be accepted as a payment for goods and services or bought directly from an exchange with a bank account. They therefore function as pecuniary resources and are used as a medium of exchange and a means of payment.”

2.) This Beautiful Copper Coin Could Transform How We Spend Money

It’s a digitally connected, mechanical brass coin that you load with money like a MetroCard. And as you go about your day, paying for things via wireless NFC connections (like Apple Pay), it offers braille-like tactile feedback so that you recognize how much you’re spending

Brain Food

3.) His coins will make you drift into a time warp

The earliest Venad coins were issued in the 15th and 16th centuries, before the time of Marthanda Varma, though no records are known to exist on who brought them out

4.) Bicycle’s bicentenary to be celebrated in Germany with €20 coin

bicicycleGermany is to celebrate 2017’s bicentenary of the bicycle with the issuing of a twenty Euro coin featuring the Laufmaschine, the “running machine” that fifty years later started to morph into the bike as we know it. The Laufmaschine – or draisine – was invented by Baron Karl von Drais of Mannheim, Germany, in 1817

5.) Australia’s first coins, Lachlan Macquarie’s Holey Dollars showcased online

In what she describes as a project of national significance, Belinda Downie is preparing on online catalogue of Australia’s first coins, the Holey Dollars

6.) What’s the Difference Between Operating as a Private versus a National Mint?

[F]ew people are aware that it’s not always a state-owned mint which produces circulation coins. There exist plenty of organizational forms for mints. They all have advantages and disadvantages. This interview, which was first published in the Mint News Quarterly, will discuss which ones.

We have asked two Mint Directors this question – Ross MacDiarmid of the Royal Australian Mint and Grzegorz Zambrzycki of the Mint of Poland

Current Events

7.) How is Zimbabwe paying for its new bond notes?

Questions are being raised about the collateral behind the Zimbabwean government’s issue of new US dollar denominated bond notes, an initiative which was announced by the Reserve Bank of Zimbabwe this week. There are fears that issuing bond notes could quickly lead to hyperinflation, a phenomenon that wrecked the economy before the Zimbabwean dollar was withdrawn in 2009…

8.) Irish consumers do not feel short-changed by rounding policy

The report says the vast majority of Irish consumers and retailers have fully embraced rounding, with 93 per cent describing themselves as either positive or neutral about rounding to the nearest five cent cash transactions in shops

9.) The penny could be scrapped, Bank of England governor Mark Carney says

coinstrashPennies have been in use in Britain in one form or another for over a thousand years. But are their days numbered? Bank of England governor Mark Carney thinks so.

Mr Carney oversaw the withdrawal of the 1p coin while governor of the Bank of Canada

10.) Auto driver refusing to take Rs 10 coin? RBI says denying the coin might land you in legal trouble

Putting rumours around the Rs 10 coin at rest, the Reserve Bank of India (RBI) on Tuesday said that the coin was very much in circulation and those who refuse to accept it, could face legal action

Under the Radar

11.) Snow Leopard 2016 Stamp & Coin Cover

The Perth Mint and Australia Post are pleased to release a stunning Stamp and Coin Cover featuring the rare and beautiful snow leopard

12.) Paris Mint Teams Up With Van Cleef & Arpels

Van Cleef & Arpels and the Monnaie de Paris have teamed up to produce six limited-edition coins and a medal celebrating the jeweler’s know-how

13.) New Luxembourg coin collection available from Thursday

If you’re an avid coin collector then you should note the date of Thursday September 22 when a new Luxembourg collectors coins go on sale.

Available from the BCL, 43 avenue Monterey in Luxembourg City, the coins are dedicated to the “Centaurea cyanus” flower, better known as the cornflower

korea201814.) Commemorative Coins for PyeongChang 2018 Olympics Revealed

Commemorative coins for the next winter Olympics were unveiled Thursday by the PyeongChang 2018 organizing committee. Manufactured by the state-run Korea Minting and Security Printing Corporation, the complete set features two gold coins, eight silver coins and one brass coin

15.) Panmure Island lighthouse to be featured on $10 coin from Canadian Mint

The Panmure Island lighthouse will soon be “lighting up” a new $10 fine silver coin from the Royal Canadian Mint, celebrating Canada’s 150th birthday. The Mint has partnered with Canadian Geographic magazine to create the series of 13 coins — one from each province and territory…

Gold & Bullion News

16.) MMTC targets selling 700 kg gold coins

MMTC Ltd hopes to sell 700 kg of Indian Gold Coins in the upcoming festive season, when Indians buy gold as a mark of prosperity


The AUD$1million coin, named “The Kimberley Treasure”, weighs one kilogram of 99.99% fine gold, and features a radiant cut 0.54 carat red diamond unearthed from Rio Tinto’s Argyle Diamond Mine in the east Kimberley region of Western Australia. The coin was unveiled at The Perth Mint by the Premier of Western Australia, Colin Barnett

Treasure News & Archaeology

18.) Archaeologists discover gold coins in Pompeii

[Pompeii] is a treasure house of information for archaeologists who have found bones and gold coins in what was left of a shop, as the Soprintendenza Pompei made public

19.) Bones found in Lincoln at site of grisly medieval fights to the death

A Roman coin and fragments of bone have been unearthed on a site in Lincoln where disputes in medieval times were once settled by battle until submission or death

20.) Spanish Archeologists Certify Valuable Shipwreck Is One of Its Navy Frigates

Also of great importance are the nine silver coins, which unlike the tons of coinage hauled out in haste by Odyssey, were recovered almost undamaged

Crime & Punishment

coin_crime_alert21.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Persons of Interest

The Numismatic Crime Information Center (NCIC) has been working closely with Tennessee law enforcement officials in the recent vehicle burglary of a dealer that had left the recent Dalton (GA) show. The photos below are two persons of interest. These subjects may have attended shows in other parts of the United States.

NCIC burglary suspect NCIC burglary suspect

NCIC burglary suspect NCIC burglary suspect

The bottom two photos are most recent.



Anyone with information about the case 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.


22.) Gold and coin dealer charged with paying someone to torch rival’s business

A gold and rare coin dealer was charged Thursday with paying someone to burn his rival’s North Whitehall Township business five years ago, according to court records.

Stefan A. Skweir, 42, of Northampton, allegedly paid someone $5,000 to enter A&D Gold Exchange, 3752 Route 309, on Sept. 14, 2011, and pour and ignite an accelerant, court records say…

23.) Action 9 confronts owner of collectible shop accused of cheating consumers

Ranew knew friends who trusted Coins and Curiosities shop owner John Kane. So he paid nearly $17,000 cash for gold coins and another $5,000 for silver coins.

But weeks went by without a delivery of coins…

Counterfeit Cavalcade

24.) Car full of fake Rs 5 coins seized

Police said the crime branch had stopped a car during a routine check at a barricade in Palam Vihar on Friday night. On checking the vehicle, they found bags full of Rs 5 coins. Suspicious of their authenticity, they got the coins checked by bank officials, who told them the coins were counterfeit. They were metal discs painted with a lead-based silver and gold paint

Banknote News

25.) David Bowie on a Banknote?

bowie2Another petition, by Simon Mitchell in the United Kingdom, called for England to remember David Bowie by putting him on the £20 note.

Bowie died in January this year…

26.) Boston’s Crane Currency Announces New $100M Facility In Malta

The 140,000-square foot facility represents a $100 million investment for construction and equipment. Crane Currency expects to hire 200 employees to work at the center when its completed in early 2018. CEO Stephen DeFalco says the company works with more than 50 central banks…

27.) Central Bank of Oman announces issue of uncut currency note sheets

The Central Bank of Oman has announced the issue of uncut currency notes sheets of four different denominations on Sunday.

As per the Circular, the current issue of uncut sheets include those of 100 bz, half-rial (500 bz), the RO 1 (commemorative bank note of 2005), the New RO 1 (commemorative bank note of 2015) and the RO 5 bank note sheet…

Upcoming Auctions & Events

28.) The 2016 China International Coin Expo (Guangzhou)

Stack’s Bowers and Ponterio is a sponsor and an attendee of the 2016 China International Coin Expo (CICE) Guangzhou. The show is being held September 24-26 in the Oriental Landmark Arts Trade Center. Nirat Lertchitvikul and Zhou Shou Yuan will be on hand to give free appraisals and to discuss consigning to our exciting 2017 NYINC and Hong Kong sales….

29.) Tuscarawas County Coin Club to host 57th annual coin show

The Tuscarawas County Coin Club will host its 57th annual coin show from 10 a.m. to 4 p.m. Oct. 15 and from 10 a.m. to 3 p.m. Oct. 16 at Jim’s Place, 228 W. High Ave., New Philadelphia.

30.) Stamp, coin, and postcard show held in the Clifton Recreation Center

The Clifton fall 2016 Stamp, Coin, Cover, Currency, and Postcard Show will be held on Saturday, Sept. 24, from 10 a.m. to 5 p.m., and on Sunday, Sept. 25, from 10 a.m. to 4 p.m. at the Recreation Center, 1232 Main Ave. Admission and parking are free.

31.) Oriental Numismatic Society AGM and Study Day at the British Museum

If you are interested in presenting a paper then please contact Robert Bracey, [email protected] or Joe Cribb [email protected]. If you would like to attend, the study day is open to members and non-members of the society, then please also contact Robert. The meeting will begin at 11am and finish at 4pm – in the Coins & Medals Department of the British Museum. No lunch is provided but tea & coffee are supplied in the morning and afternoon.

Museums & Exhibits

32.) Voices of the Engraver a Unique Look at Money and Stamps

The Okotoks Museum and Archives will be home to the Voices from the Engraver exhibit from the Bank of Canada until November 30th.

The exhibit takes a look at the artistry, technical skill that underlies every Canadian bill and stamp…

“Good News, Everyone…”

33.) Rare Coin Board Brings Record Price

From David W. Lange of Coin Board News:

Coin board collectors were stunned September 20 when a rare Earl & Koehler brand coin board for Lincoln Cents brought a whopping $569 USD at auction—without coins! This is more than twice what a similar board has sold for previously.

Collectors of vintage coin boards know all too well that the E&K brand is the rarest among the seven publishers of large coin boards during the years 1935-48. Only four titles were offered by this Portland, Oregon company, and all were printed in 1939. The board which set a new record for ANY coin board sale is Lange Variety EK1cAb.1 in the book Coin Collecting Boards of the 1930s & 1940s, and it is one of just three confirmed to exist. The board grades Very Fine, based on the photos provided.

The previous record price for a vintage coin board was held by this same variety. I sold that example just a couple years ago for $230 in a private sale, but I was neither the seller nor buyer in this latest transaction. It was placed on eBay by South Park Coins of Forney, TX without any particular fanfare. The new record holder is in similar condition to the earlier piece, yet it brought well over twice as much with seven bidders participating.

34.) Jayalalithaa launches distribution of 8 gram gold coins

Tamil Nadu chief minister J Jayalalithaa on Thursday launched distribution of gold coins, weighing eight grams, to 12,500 women under the government’s marriage assistance scheme

World of the Weird

35.) Canadian Mint worker smuggles gold worth 180,000 USD in his rectum

The Ottowa Citizen reports, 35-year-old Leston Lawrence has been accused of stealing 18 unmarked gold nuggets from the Canadian Crown corporation, Royal Canadian Mint, which produces Canada’s circulation coins.

He literally shoved the loot up his butt…

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