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CoinWeek News Wire for September 8, 2017: Hanging with Beatrix, Busted Bitcoin, Gold Fakers

CoinWeek News Wire: Coin News

By Coinweek ….

CoinWeek News Wire for September 8, 2017:

Brain Food

1.) New Anti-Counterfeiting Technology: Dogs

The first counterfeit-sniffing dog, Mike, went into the field in 1997, and other dogs since then have had great success finding and busting counterfeiters. The Secret Service has expanded the canine anti-counterfeiting program, and begun tackling counterfeiting of US currency all over the world

2.) South Africa’s rarest gold coin is the infamous Single 9 Pond

While struggling to maintain the independence of the South African Republic, President Paul Kruger ordered the minting of new gold coins. Without access to new dies and the shipment ordered from Germany being intercepted, The Boer republics decided to proceed with their plan for new coinage by taking their preexisting dies from 1898 and punching a “9” on the obverse, signifying 1899. Sadly, when the first of 130 coins was struck, the Boer government officials noticed the “9” was too large for the chosen area to bear the number. With the area far too small, the “9” significantly protruded onto the lower portion of the bust of President Kruger.

For over 50 years the whereabouts of this one of a kind coin went unknown until it resurfaced in Egypt in 1954. Presented as an item in King Farouk’s coin collection, the “Palace Collections of Egypt”, sold the gold coin for 655 Egyptian pounds to a wealthy resident of Port Arthur, South Africa

Under the Radar

3.) Final Beatrix Potter 50p coin released

To celebrate Beatrix Potter’s 150th birthday in 2016, the Royal Mint launched a series of 50p coins, depicting three of the beloved author’s most popular characters – Jemima Puddleduck, Squirrel Nutkin and Mrs Tiggywinkle. In 2017, coins depicting Peter Rabbit, Jeremy Fisher and Tom Kitten were released. The Benjamin Bunny coin is the seventh and final coin in the series to be made available for sale.

Previous coins in the series have sold for hundreds of pounds, so it’s possible that the Benjamin Bunny coin could also attract a premium price

4.) Commemorative coins for wartime sex slaves find overseas outlet amid Japan’s pressure

The project to issue a commemorative coin of the girl in Niue, however, ended in vain as the Niue government unilaterally declared it would scrap the project in July.

The Kims claim the decision was apparently politically motivated by behind-the-scene influence by Tokyo.

After hitting a wall, the silver coin found a new outlet in the Republic of Chad, Africa. The organizer is currently receiving orders which will run through Sept. 10.

Current Events

United States 2017 American Gold Eagle Uncirculated Coin5.) US Mint Gold Coin Prices Rose Wed., Sept. 6

The U.S. Mint’s collections of gold coins have prices that can change weekly based on the trending value of gold as it compares against its pricing matrix. The Mint most recently raised prices on Aug. 2 when gold’s weekly average climbed above $1,250 an ounce. The precious metal has since traded near a one-year high and is now around $1,340 an ounce

6.) German police find rare 5-million deutschmark coin during drug search

Police in the northwestern German city of Cologne hit an unexpected jackpot when they chanced upon historical coins and currency notes during a drug-related search. Among them was a 5-million deutschmark coin from 1923, when Germany was in the midst of an economic crisis. Hyperinflation ran rampant at the time, resulting in constantly devalued money. 4.2 trillion marks were worth just $1.

The inscription on the coin reads: “Emergency money from Westphalia Province, 1923,” referring to the German state.

7.) Colombian artist features Pope on memorial coin made from bullet casings

Pope Francis is scheduled to arrive in Colombia on Wednesday to celebrate the country’s long road to peace. After 50 years of civil war, FARC rebels laid down arms. FARC has now formed a legitimate political party, the Revolutionary Alternative Common Force, repurposing the famous Spanish acronym.

On a five-day trip, the Pope will meet with the victims of war.

The city of Villavicencio, which will be welcoming the Pope, has commissioned original memorabilia for the occasion. It is a medallion designed by Colombian artist Hector Ruiz.

It is made from melted bullet casings to serve as a symbol of peace after the bitter 50-year war between FARC rebels and the Colombian state.

Bitcoin & Cryptocurrency

8.) Bitcoin falls as China bans initial coin offerings

The Chinese government has banned initial coin offerings, a new fundraising phenomenon that has taken the Internet by storm. In a Monday ruling, the People’s Bank of China ruled that these unregulated sales violated Chinese law and must stop immediately

9.) Blockchain guru writes code of conduct for coin offerings

The National Internet Finance Association of China warned at the end of August that ICOs “may involve actions such as fraud, illegal securities and illegal financing”. Earlier this week, authorities in the country banned ICOs, sending the price of the cryptocurrencies Bitcoin and Ethereum falling. The US Securities and Exchange Commission, meanwhile, has called for ICOs to be regulated like any other securities market

10.) Virtually Every Cryptocurrency in the World Is Tanking Right Now

On Monday morning, China said cryptocurrencies had “seriously disrupted the economic and financial order” and outlawed Initial Coin Offerings (ICOs)—also known as token sales—the means by which funds are raised for a new cryptocurrency venture.

China’s ban hit the market especially hard in the immediate wake of the U.S. Securities and Exchange Commission (SEC) warning against the legality of some ICOs, Tech Crunch reports.

The across-the-board tanking of cryptocurrencies also coincides with the latest provocative nuclear test by North Korea, suggesting traders are not betting on them as safe-haven assets in times of global turmoil.

Busted Bitcoin11.) US Lawmakers Seek Tax Exemption for Bitcoin Transactions Below $600

[T]he measure, if passed, would create a de minimis exemption for cryptocurrency payments below $600 after December 31 of this year. Put more simply, transactions involving a cryptocurrency below that threshold wouldn’t trigger a capital gains liability

Banknote News

12.) Printing presses to RBI: Pay us for note-ban loss

The Rs 577-crore bill is largely on account of huge consignments of imported/indigenous currency note paper used for Rs 1,000 and Rs 500 denominations as well as consignments which had been previously ordered or were in the process of being shipped to India

13.) De La Rue recovery suit shows Modi govt took more than a year to flag concerns

While the UPA appears to have given a Rs 11 crore contract to the tainted British firm, De La Rue in 2013, NDA waited for more than a year before flagging concerns over the supplied product’s quality in 2016

14.) Central Bank of Suriname announces new signatures on banknotes

The Central Bank of Suriname announces that new banknotes of SRD 50 and SRD 100 will be put in circulation with the signature of the current Bank President, Glenn Gersie. These bills are intended to replace old and damaged bills that need to be removed from circulation

Crime & Punishment

coin_crime_alert15.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Stolen Foreign Currency

The following is a partial listing of notes taken from a residence in the Kurtztown, PA area. The offense occurred on August 27, 2017 and resulted in the loss of approximately $40,000 in foreign currency. The victim, Carlson Chambliss, is well known within the currency collecting community.

Partial Listing of stolen notes:

  • Latin America, heavy in Mexico, Brazil and Dominican Republic
  • Large amount of Philippines 1951-2014
  • Guerilla notes 1941-1945
  • Mexico 5 P 1936 B7889096 10 P 1936 A5511921
  • Philippines 5 recent sets of 10 for 20, 50, 100, 500, 1000P with solid nos. 111111, 222222, etc. up to 999999, 1000000 1 set 200 P 000001 to 000010
  • Cagayan with Revenue stamps 10 c 15312, 1 P 11445, 2 P 26773
  • Culion Leper Colony 1c 14417 5c 11757 20c 12234 50c 5471 error 7975 1P 14757 5 P 9960 20 P 1162
  • Negros 50 P 1147 100 P 15065 500 P 564
  • North Korea 1959 50 won 700638 100 won 329091
  • Rhodesia 16.11.1964 (WMPC 24 and 25) 10/- and 1 pound gem CU

Counterfeit Gold

The subject pictured below is a person of interest in selling fake NGC-holdered gold coins in Oklahoma. The coins were sold in Roland and Muskogee,Ok.

Anthony Michael LaGrand-Perez

Anthony Michael LaGrand-Perez

The Numismatic Crime Information Center is currently working with several law enforcement agencies to link several suspects from Oklahoma selling counterfeit/fake coins around the country.

Suspect In Custody

The subject pictured below was arrested in Omaha, NE for selling fake Perth gold bars. He also has an outstanding warrant out of Bellevue, NE for selling over $8,000 in fake gold bars. The subject has been identified as Bradley M. Barney of Moore, OK. Barney uses an Oklahoma issue ID card for identification when selling the fake bars.

Bradley M. Barney

During interviews Barney stated he came from Oklahoma with a male and female but was unable to provide their names.

The Numismatic Crime Information Center and Law Enforcement officials are looking for information pertaining to this individual or other persons involved. We are currently investigating several groups selling counterfeit coins and bullion who are from Oklahoma.

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].

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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.) Egypt returns stolen antique money to Iraq and China

Ahmed Al-Rawi, the head of the Antiquities Units at Egyptian ports, said the antiques were handed over in accordance with the UNESCO agreement which Egypt joined in 1972 and in accordance with bilateral agreements which obligate Egypt to seize foreign antiques if smuggled into its territories and show them to the relevant embassy to check whether they are on the heritage list and protect them.

In June, relevant authorizes seized 44 coins that go back to the royal eras of King Faisal I, King Faisal II and Ghazi I in Iraq.

Upcoming Auctions & Events

Worth Additions to Your Library

17.) Golden mystery outlined in book

“So why did the colony request – and Britain agree to – gold coinage for Newfoundland? And why were none minted after 1888?”

18.) French Coins 1789-2017: Éditions V. Gadoury

The new edition 2017 of our Red book is now available online on presale on gadoury.com. The book will be delivered at the end of September.

New developments in 2017: Numerous tests, piéforts and proofs, New chapter devoted to Napoleon III (essays, piéforts, tests, brown flans), New chapter Kingdom of Westphalia, New currency of Honoré II attributed to Monaco, even more close-ups and pictures of rare and high-definition currencies

“Good News, Everyone…”

19.) Mystery of rare coin donated to charity collection tin

A FARMING charity has thanked a generous benefactor after a rare gold coin was put in a collection tin.

The rare 1966 gold sovereign, which is worth £250, was donated to the Royal Agricultural Benevolent Institution (RABI) in a collection tin at the Glendale Show, held in Wooler, Northumberland on August 28

20.) Overweight gaming addict loses 187LBS by METAL detecting

Before taking up metal detecting, the school security guard gorged on pizza, hot dogs and burgers as he played computer games every night. By the age of 26 he was morbidly obese, wearing size 44 pants and XXXL shirts and spending eight hours a day staring at screens.

Jeff Nemeth, 27, shed 187lbs by trekking up to 10 miles a day to remote sites in search of old relics- The hobby has helped him ditch his gaming habit, drop four sizes, slim down to 197lbs, and find dozens of fascinating relics in the process

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