Jun 5, 2017 | administrative
To all the readers expecting the Weekly Numismatic World Newsletter, I apologize for the delay. Chalk this up to the list provider over abusing automation and blocking my account.
According to the mailing list service, I violated their Terms of Service (TOS). I do not know how I violated the TOS because when I click on their links for the reason, I am sent to their Terms of Service web page. It’s like being punished but not knowing why you are being punished!
The notice I received said that the third-party service that they contract with to check for violators to the TOS is a computer without the smarts of Watson or common sense to understand context. In other words, it was programmed by a bunch of geeks whose knowledge of fuzzy logic defies Boolean logic. I used to work with these types of people… they would drive me crazy!
After some serious word parsing of the TOS, I think it might be because I was talking about counterfeiting. I was not promoting counterfeiting, selling counterfeit items, nor was I providing instruction how to counterfeit, but I was providing a cautionary note with regard to the recent stories about the fake British £1 coin errors and the counterfeited Canadian $100 note.
Unfortunately, the ability to communicate with a sentient being at this company is limited to clicking on a link and sending an email. Since I do not know when they will come to their senses and re-activate my account, I cannot tell you when you will receive the newsletter.
I want to keep the content exclusive to the newsletter. However, if the problem is not resolved by tonight (Monday, June 5), I will post what I wrote here and look for a new provider.
Jun 3, 2017 | Canada, counterfeit, currency
Police in Vancouver, British Columbia has discovered that criminals are altering the new polymer notes to create counterfeits that are being passed in the region. The Royal Canadian Mounted Police (RCMP) and the Bank of Canada are warning merchants that criminals are splicing $5 bills to remove the holographic strips and add them to color-copied $100 notes to make them seem less suspicious.
In order to make sure that the clear window in the polymer notes does not raise suspicion, clear packing tape has been used on the altered $5 notes to cover the alteration.
Discovered in Metro Vancouver, police found that a careful examination of the notes shows that the $5 notes can be altered in a way that does not raise suspicion while creating $100 notes that has been passed with little notice, until recently.
A representative from the Bank of Canada says that criminals are preying on the fact that people are not verifying the notes. The Bank of Canada issued a release urging merchants to check the notes for more than one of the security features.
Travelers to Canada and United States dealers that accept Canadian currency as a convenience to their customers from north of the border should learn about the embedded security features before accepting these notes. Visit the Bank of Canada Banknote website for more information as to how to recognize legitimate currency.
Clarification Update: The three lower denomination Canadian notes ($5, $10, and $20) are made using the polymer substrate. The higher denomination note ($50 and $100) are still made with rag bond paper. These notes are scheduled to be converted to polymer in the next few years.
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Anti-counterfeiting features on the front of the Canadian polymer $20 note
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Anti-counterfeiting features on the back of the Canadian polymer $20 note
All currency images courtesy of the Bank of Canada.
Jun 2, 2017 | Britain, coins, counterfeit, foreign
On the left is an altered British £1 coin. The coin on the right is a legitimate coin.
According to media reports confirmed by the Royal Mint, the three significant errors found are when the thistle on the reverse did not strike properly is produced as a smooth blob, the copper-nickel center of the bimetallic planchet appears to have melted across the coin, and the inner disc and outer ring did not fuse properly. Coins with legitimate errors have been sold on eBay (U.K. and U.S.) for significant premiums.
Unfortunately, scammers have picked up on these problems and have been selling altered coins on eBay as errors. Common alterations are based on removing the silver-colored center and create error-like coins by making different alterations. Amongst the tries to create something that looks like an error includes the Queen’s portrait appearing on the wrong side of the coin and facing the wrong direction which is impossible because of the how these coins are struck, the center of the obverse lacking the Queen’s portrait, and gouges removed from the center.
Both the errors and fakes are being sold for an average of £300 (approx. $386.13) on eBay.
If you want to purchase a British £1 error coin carefully examine the image and the image of a legitimate coin from the Royal Mint’s website. Make sure the person you are buying from has a return policy or buy from a dealer. Of course, it is easier to be careful buying from the U.K. on that side of the Atlantic, but for those U.S.-based error enthusiasts, you have to do your due diligence. Otherwise, you may get stuck with a fake!
Known legitimate errors
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Too hard of a strike is likely to have caused the copper-nickel center to melt across the coin.
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A weak strike can prevent the two metals from fusing properly allowing them to separate
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First new £1 coin error found with missing detail on the thistle
Jun 1, 2017 | coins, commemorative, legislative, news, US Mint
Just because congress is dysfunctional does not mean they cannot curry favor with various constituencies. This month we see bills introduced for a Coast Guard and American Legion 100th Anniversary commemorative coins programs. Both are worthy organizations but given the toxic nature of Congress, who knows if these commemorative programs will be passed.
To pair with the Currency Optimization, Innovation, and National Savings (COINS) Act (S. 759) introduced by Sen. John McCain (R-AZ), there is now a version introduced in the house (H.R. 2299). Even though it is a good idea, it will not be supported in the current environment.
I wish some of these bills had a chance….
H.R. 2299: Currency Optimization, Innovation, and National Savings Act of 2017
Sponsor: Rep. Claudia Tenney (R-NY)
• Summary: To save taxpayers money by improving the manufacturing and distribution of coins and notes.
• Introduced: May 2, 2017
• Last Action: May 2, 2017: Referred to the House Committee on Financial Services
This bill can be tracked at http://bit.ly/115-hr2299.
H.R. 2317: United States Coast Guard Commemorative Coin Act of 2017
Sponsor: Rep. Joe Courtney (D-CT)
• Introduced: May 3, 2017
• Last Action: May 3, 2017: Referred to the House Committee on Financial Services
This bill can be tracked at http://bit.ly/115-HR2317.
S. 1021: United States Coast Guard Commemorative Coin Act of 2017
Sponsor: Sen. Christopher Murphy (D-CT)
• Introduced: May 3, 2017
• Last Action: May 3, 2017: Referred to the Committee on Banking, Housing, and Urban Affairs
This bill can be tracked at http://bit.ly/115-S1021.
S. 1182: The American Legion 100th Anniversary Commemorative Coin Act
Sponsor: Sen. Todd Young (R-IN)
• Introduced: May 18, 2017
• Last Action: May 18, 2017: Referred to the Committee on Banking, Housing, and Urban Affairs
This bill can be tracked at http://bit.ly/115-S1182.
H.R. 2519: The American Legion 100th Anniversary Commemorative Coin Act
Sponsor: Rep. Timothy Walz (D-MN)
• Introduced: May 18, 2017
• Last Action: May 18, 2017: Referred to the House Committee on Financial Services
This bill can be tracked at http://bit.ly/115-HR2519.
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