HomeNewsNews WireCoinWeek News Wire for July 1, 2016

CoinWeek News Wire for July 1, 2016

CoinWeek News Wire for July 1, 2016

By Coinweek ….

CoinWeek News Wire for July 1, 2016

Brain Food

1.) History: June 30,1987: Introducing the ‘loonie’

In 1986, the Canadian government announced it would be introducing a new one dollar coin the following year. This was proposed as a cost saving measure to replace the one dollar banknote. It was argued that banknotes lasted only a couple of years, whereas the coins would last a couple of decades and save millions in printing costs.

There was also pressure from vending machine operators, transit companies and cities in relation to parking meters who wanted to raise prices in coin operated equipment…

2.) The Nonexistent “Social Costs” of a Gold Standard System

If one is to use gold coins, then someone needs to pay for this gold. Who pays? Is it “everyone”? The government? Taxpayers? Who?

3.) Professing Faith: Gold symbolizes good and evil in many religions

The ancient Egyptians had a passion for gold, because they believed the substance to be the skin of the gods and that the gods’ bones were made of silver.

By way of comparison, the ancient Aztecs believed that gold was not the skin, but the excrement of the gods…

4.) Coin Divers in Calcutta Brave Dirty River Water to Feed their Families

Every day, more than 15 boys ranging in age from 8-15 dive into the filthy water near the centuries-old temple in eastern India to retrieve coins from the river bottom

In Memoriam

5.) Chester L. “Chet” Krause

Numismatic News founder Chet Krause died June 25 at the age of 92

Current Events


6.) Bundestag approves the amendment of the German Cultural Property Protection Act

On Thursday, June 23, 2016, the 2nd and the 3rd reading of the amendment bill of the German Cultural Property Protection Act took place. Those who have watched the discussion via the internet mainly saw empty benches facing the speakers who voiced their opinions unchallenged. What a non-politician may consider a discussion, though, did not take place

The Future Is Now

7.) Bitcoin Bill Approved by North Carolina Senate

Following a majority vote of the North Carolina Senate, the General Assembly of the state has now approved the amendment of a statutory article – the North Carolina Money Transmitters Act. The move will see the term “virtual currency” added to the existing law

8.) New Chinese Civil Law Draft Classifies Bitcoin as Property

If implemented into the statute, the new draft will automatically consider bitcoin and other digital currency holdings as private property, making the owner eligible for legal protection against fraud and theft

Under the Radar

9.) Something new for coin collectors

Coin collectors and history enthusiasts enjoyed a weekend of new coins that were showcased at the South African Mint.

The annual Johannesburg Coin Show took place at the Sandton Convention Centre on 3 to 5 June…

10.) Mumbai Mint puts commemorative coins on sale

India government Mint, Mumbai, a unit of Security Printing and Minting Corporation of India Ltd (SPMCIL), has announced an online sale of commemorative coins

11.) After Two Decades, Belarus Brings Back Its Coins

[S]mall change returns on July 1 as part of a currency redenomination that is slicing four zeros off the Belarusian ruble, albeit with no indication that policymakers in Minsk can boost the country’s struggling economy or shore up the new rate

Clubs & Organizations


12.) They’ve been showing the money since 1912

The 2,198th meeting of the Rochester Numismatic Association began last week with a joke, actually two jokes.

A numismatic association is an organization for coin collectors, so it’s not surprising that one of the howlers cheerfully told by RNA President Gerald Vaccarella of Brighton turned upon a coin-related pun…


13.) New ‘Star Wars’ Pressed Coins Available at Disneyland

The new six coin collection is found only inside Star Trader in Tomorrowland and features Rey, Chewbacca, and the Resistance symbol for those who are fans of the Force.

If you’re a fan of the Dark Side you’ll find quarter-press coin machines featuring Kylo Ren, Captain Phasma, and the First Order symbol…

14.) Adrenaline Challenge Coins Makes FDNY Commemorative Coins

The three coins, which were designed by members of the New York Fire Department and created by Adrenaline Challenge Coins’ CEO Kevin Touhy (who also is a U.S. Air Force veteran and a retired firefighter after 34-years of service), will help raise funds to benefit the FDNY Fire Zone and FDNY Foundation

Mint News

15.) Ronald Reagan: Actor & Activist

Reagan honed his oratory style as a Hollywood actor in the 1930s and 1940s, became President of the Screen Actors Guild, and toured the country with General Electric Theater – all long before he sought public office

16.) Royal Canadian Mint Donates an Extra $50,000 to the Red Cross Alberta Fires Appeal (Fort McMurray)

After selling out all 10,000 “Firefighters” coins in its 2016 Fine Silver National Heroes series, the Royal Canadian Mint is proud to announce that it has donated an additional $50,000 to the Red Cross Alberta Fires Appeal benefitting the Fort McMurray community. The Mint donated $10,000 to the Red Cross when it launched the series on May 16, 2016 and committed to donate $5 from the sale of every firefighter-themed coin as additional support of this charitable campaign

Treasure News

17.) Ancient trove of silver unearthed in Scotland

Often stereotyped as tattooed barbarians, the Picts certainly had a talent for war – but also a talent for carving stone and shaping silver

18.) Skeletons, coins found in dig of ancient Pompeii shop

Italian and French archaeologists have discovered four skeletons and gold coins in the ruins of an ancient shop on the outskirts of Pompeii, officials said

Crime & Punishment

coin_crime_alert19.) NCIC Crime Bulletin

From the Numismatic Crime Information Center (NCIC):

Residential Burglary

The following is a partial list of currency that was stolen from a residence in Los Angeles, California:

  • FR552 $20 Date Back S/NM798314 Pittsburg, PA ,The Duquenes NB PMG Unc62
  • FR1613W 1935D $1 Error Inverted overprint A67552352 PCGS VF25
  • FR1911-E 1981 $1 E99844798B PCGS VF25
  • FR1984-E 1995 $5 Error Underinked green overprint Plate #H63/63 PCGS 66PPQ
  • FR1922D 1995 $1 Error D37295664E Overprint on back PCGS XF45PPQ
  • FR2072-E $20 1977 Error Full back to face offset PCGS AU58PPQ
  • FR299 1891 $10 Silver Cert E7994503 PCGS F15
  • FR248 1896 $2 SN17315713 PCGS VF20
  • FR60 1917 $2 D70258467A PCGS CH63
  • FR1173 1922 $10 Gold Cert. H86551534 PCGS XF40PPQ
  • FR227 1891 $1 E11855549 PCGS XF 40 PPQ
  • FR545 1882 $10 Charter #2395 The Bennington County NB SN2807F PCGSF15
  • FR738 1818 $1 Kansas City, MS J13322247A PCGS 63PQ
  • FR537 1882 DB $5 Charter #2524The Germain NB, Cincinnati,OH #2694G PCGS VF25
  • FR282 $5 1923 A40830385B PCGS AU58
  • FR121 1901 Mule Bison E27668767 PCGS Gem 66
  • FR477 1882 BB $5 Charter #5805 The Bankers NB, Cleveland,OH #7626A, PCGSVF25

Also stolen was a large number of other error notes, nationals and celebrity autograph notes including a $50 note autographed by “The Fridge”.


In April the Numismatic Crime Information Center sent out an alert regarding a suspected phone scam by a person who identified himself as Richard Iden. Recently several dealers have called and advised the same suspect is using a different name and phone number.

New Information: Suspect identifies himself now as “John Ward” using the phone number (702) 502-4466. However, caller ID shows the name Richard Iden.

The suspect states that he has a large number of Carson City dollars (135) belonging to his great-great grand father who had worked at the Mint and that his mother had sold some coins to the dealer in the past and she wanted to be sure that he sells the remainder to him when it was time. The suspect wants money sent up front or needs money to help with the shipping.

The story is basically the same but some details may be different in each call.


* * *

Anyone with information about the case above can 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.


Harold L. Benjamin, Jr. (Photo: TIOGA COUNTY SHERIFF’S OFFICE / Provided Photo)

20.) Officials confirm Ithaca coin shop owner’s death

Last week, Benjamin reported an armed robbery at his shop to the Ithaca Police Department. On Tuesday, Officer Jamie Williamson said the case is still being investigated. Williamson said officers responded to a report of a robbery June 21 at Benjamin’s shop

21.) Suspects waive court hearings in Erie coin theft case

The last of seven suspects charged by Erie police in connection with the theft of more than $14,000 in coins from an eastside residence in January are facing trial after waiving their preliminary hearings on Friday afternoon

22.) Rockford Man Charged with the Robbery of Rockford Banks and a Coin and Stamp Store

The indictment further alleges on June 11, 2016 Sanders robbed Rockford Coin and Stamps, 4402 Center Ter., Rockford, Ill. while using and carrying a firearm during a crime of violence and that he obtained $500 and a Remington shotgun from Rockford Coin and Stamps employees during that robbery

Counterfeit Cavalcade

23.) Two held for trying to sell fake gold coins

According to the police, the arrested had told Bengaluru residents Srinivas and Mahadev that they were planning to sell a pitcher full of gold coins they had found while digging up agricultural land

24.) People v. Maynarich: Is Counterfeit Currency A Bank Note?

After California voters approved Proposition 47, Mr. Maynarich petitioned the court to recall his conviction and reduce it to a misdemeanor. He argued that Proposition 47 amended Penal Code Section 473 to define the punishment for forgery of, among other things, a bank bill or note as a misdemeanor

Banknote News

25.) Banknotes expire July 1

The national campaign reminding Swedes to use or exchange these notes before July 1 was widespread, but Central Bank (Riksbanken) reported that about two billion kronor in these denominations were still in circulation as the Thursday night deadline drew near

26.) Bank of England: The Making of The New Fiver

The Bank of England’s first polymer note, The New Fiver, will be issued from 13 September 2016. This film shows how the new £5 note is printed by De La Rue at the Bank of England printworks in Loughton, Essex

27.) Russian Central Bank to introduce 200 and 2,000 ruble notes in late 2017

New banknotes with denomination of 200 and 2,000 rubles will be in circulation in late 2017, Chief of Russia’s Central Bank Elvira Nabiullina told a press conference held at the TASS news agency on June 28

Museums & Exhibits

28.) Corpus Nummorum Thracorum wins Berlin DH-Award 2016

The second prize, worth 1,000 euros, was awarded to the project team ‘Corpus Nummorum Thracorum’, a cooperation between the Münzkabinett Berlin and the Berlin-Brandenburg Academy of Sciences and Humanities (BBAW)

29.) When money talks: Here’s what coins, bills say about history, culture, ourselves

The Historic New Orleans Collection has more than 200 old notes and coins on display for its “Money! Money! Money!” exhibit in the Williams Research Center at 410 Chartres St. The free exhibit, running through Oct. 29, includes an interactive bingo-style dollar hunt

Upcoming Auctions & Events

30.) African Currency Forum scheduled for November 2016 in Egypt

The event will build on the success of the last conference in Cape Town two years ago. The conference has changed its name from African Banknote Conference to African Currency Forum – but it will once again focus on improving the security and cost-effectiveness of banknotes, as well as ID and other secure documents

World of the Weird

31.) Indonesia’s cure to the common cold only requires a coin

All the technique requires is some oil as lubricant and a blunt object, preferably a coin or a ladle, although other things like onions have been used as well to make the rubbing hurt less

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