Aug 23, 2008 | commemorative, foreign, notaphily
I am not a big fan of the Olympics. There are certain sports that intrigue me, but the drama of these games have drawn me in. Whether it is Michael Phelps, Dara Torrez, the beach volleyball teams, or even the running of Ussain “Lightning” Bolt, I found these games intriguing. I do understand the political aspects of the games and the comparison that I and others have to the 1936 Berlin Olympics, but that is not why I am writing today.
Numismatically, the 2008 Beijing Olympics has produced interesting collectibles. One collectible many have missed is a 10 Yuan note with an image of the The National Stadium, nicknamed the Bird’s Nest, rather than the traditional image of Chairman Mao Tse-tung. The reverse has the primary image of a discus thrower and smaller vignettes of other activities.
Although these notes are being printed as Renminbi, People’s Money, it is being reported that just enough of the notes are being printed for distribution within the Olympic Village. Traditional 10 Yuan Renminbi including the portrait of Chairman Mao will continue to be distributed to the rest of the country.
As of August 22, 2008, 10 Yuan Renminbi is worth US$1.46.
The Bank of China (Hong Kong) (BOCHK) also issued a HK$20 note (US$2.56). Long lines were reported outside BOCHK offices when the notes were made available to the public. Although 4 million notes will be printed, they are not expected to see circulation. Reports say that 3.76 million notes will be sold in Hong Kong for HK$138 (US$17.68) to HK$1,338 (US$171.53).
BOCHK will be offering several collecting options that will be offered through authorized dealers.
These are nice options for currency collectors and collectors of Olympics commemoratives.
10 Yuan Note from Reuters/China Daily
HK$20 note from China Daily
Click on the image to enlarge.
Aug 10, 2008 | foreign, medals, video
Although I am not a big fan of the Olympics, I can appreciate a good show. The Beijing Organizing Committee for the Olympic Games (BOCOG) put on an great show for the opening ceremonies. The committee for the London 2012 games will have its work cut out for itself after that presentation.
When we think about the Olympic games, we associate the results to the medals won by each athlete for their country. These medals are made of precious metals and awarded after the conclusion of final competition in each sport. While we do not think of the Olympic medals in a numismatic context, the BOCOG chose a design for these medals that are also a symbol of ancient Chinese money in its design and the by the use of jade.
Jade was discovered over 7000 years ago in China. Its beauty and toughness helped earn its nickname as the “imperial gem.” Skilled artists were brought in to create works art to honor deities and the dynasties. Jade art was considered so valuable that it use was preferred vehicle for trade on the Silk Road over gold and silver.
China’s use of jade as currency dates back to its discovery and ends when the Han Dynasty (206 BCE to 9 CE) introduced bronze coinage. It was typical of the currency at that time to include a hole in the middle. The hole was to save on materials used and to aid in carrying. Typically, the hole reduced the metal content by half.
BOCOG is using the Olympics to convey that China is a modern country steeped in long tradition that defines them as a people. It was that purpose that BOCOG used to hold the first-ever public competition for the reverse design of the Olympic and Paralympics medals. The obverse of the medals are struck with the officials designs of the Olympics and Paralympics games. When reviewing the entries, the BOCOG selected a design to honor jade’s impact on early Chinese history and using the hole as a design element.
The result is a jade inlay covering half of the reverse of the medal that includes a 40 mm central hole. Within the hole is a simulated medal engraved with the logos for the respective games. BOCOG worked with the artists and engravers at the Shanghai Mint. This was a first for the Shanghai Mint since it is the facility that produces China’s circulated coins for China Banknote Printing and Mining company. Although working with the jade insert was a difficult process, the result is a beautifully executed modern interpretation of ancient Chinese culture.
One thousand of each medal were created for the games.
The use of jade and the rise in metal prices greatly increases the intrinsic value of the medal. Reports claim that the metal and jade makes the value of the medals $393. Medals issued for the 2004 Athens Games were worth $155 ($179.55 adjusting for inflation). This increase is directly attributable to the jade and the rise in copper prices in the last four years. Of course the price of gold is a big factor. Gold medals are silver plated with 6 grams of 24-karat gold.
Jade used for the medals were mined in China. The gold, silver, and copper were provided by BHP Billiton from their mines in Australia and Chile. BHP Billiton delivered the metals to the Shanghai Mint with much fanfare. BHP is based in Australia. The following video is likely a clip from an Australian news program when the metals were delivered to the Shanghai Mint on January 15, 2008:
Early in July, the Shanghai Mint presented BOCOG with the six thousand completed medals that will be awarded at the games. The South China Morning Post filed this report on July 3, 2008:
Medals for the 2008 Paralympic Games, scheduled for September 6-17 at the same venues as the able bodied Olympics, were given their own ceremony in Beijing. The following report was file by London’s CCTV 9:
When I watch, I will be cheering for the Americans participating in both games, especially the Redeem Team!
Apr 27, 2008 | Britain, coin design, foreign
For the first time in 40 years, the Royal Mint is redesigning the reverse of British circulating coins. To come up with a new design, the Royal Mint held an open competition for the new design. The goal was to find a design that would represent the country but in a “modern, fresh way.” After receiving over 4,000 entries, a novel design based on the Royal Arms was chosen to appear on all six circulating coins.
Said to be “firmly rooted in the heraldic traditions of the British coinage yet beautifully contemporary,” the design calls for the penny and pence coins to show a section of the Royal Arms that includes the heraldic designs that have been a part of British coinage since the reign of Edward III (1327-1377). It has been called a “jigsaw puzzle effect.” To unify the design, the £1 coin will contain a full image of the Royal Arms. To understand the effect, the image to the right of this paragraph shows the reverse of the coins laid out to show how the parts fit the whole image.
The obverse will continue to use the portrait of Queen Elizabeth II designed by Ian Rank-Broadley.
The winning design was submitted by Matthew Dent, a 26 year-old professional graphic designer. With a sense of history and artistry, Dent created the design for its symbolism and the jigsaw idea to represent the unity of the nation. Dent wrote, “I liked the idea and symbolism of using the Royal Arms, where individually the coins could focus on specific elements and when placed together they reveal the complete Royal Arms.”
Coinage design in the United Kingdom is different from here in the United States. The Royal Mint is a corporation of the crown, meaning it is owned by the monarch and subject to the Queen’s decrees. Royal Mint management decided to redesign the coins with the approval of the Queen.
The competition was managed by The Royal Mint Advisory Committee (RMAC). Established by King George V in 1922 to raise the quality of the coinage, the RMAC fulfills the same role as the Citizens Coinage Advisory Committee and the Committee of Fine Arts does in the United States. However, unlike the US, the RMAC has authority to recommend themes and other design elements. In the US, themes and design elements are part of the law passed by congress and signed by the president.
Once the design was selected, the recommendation was sent to the Chancellor of the Exchequer in his capacity as Master of the Mint. The Chancellor of the Exchequer would be equivalent to the Secretary of the Treasury here in the US. Following the approval by the Chancellor of the Exchequer, the design was delivered to Queen Elizabeth for royal approval.
The Royal Mint is working on preparing dies and producing coins for both the collector and circulation by the Bank of England. Circulating coins are expected to reach the public by the summer. When they are released, old coins will continue to circulate along side the new coins.
A video produced by the Royal Mint discusses the new design, the competition, and has an interview with Matthew Dent.
The design is a phenomenal idea. I was impressed with the concept as soon as I saw it on the Royal Mint’s website. Since the Royal Mint will be attending the World’s Fair of Money® this July in Baltimore, I look forward to seeing the sets in person.
Image courtesy of the Royal Mint.
Nov 4, 2007 | foreign, silver
An old axiom in show business says to never follow children or animals on stage. But with the world wide acceptance of other animals on silver coinage, who can fault the Perth Mint for trying. In the spirit of the updated designs of the Chinese Panda since 2001, the Perth Mint has entered the bullion collectible market in 2007 with the Australian Koala Silver Coin.
Minted in .999 pure silver with a legal tender face value of one dollar, the Koala features Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II on the obverse and an image “depicting Australia’s most endearing marsupial” on the reverse. The Perth Mint describes the reverse design featuring “a cuddly koala clinging tenaciously to the branch of a gum tree. The image appears on a ‘shimmer’ background, a remarkable new effect developed exclusively by The Perth Mint.”
In hand, it is a beautiful coin mounted on a collectible card. The design is very reminiscent of the style used to depict the Pandas but with an interesting background. The field is a series of a geometric shape that is shallow that gives the koala depth on the background. It is very difficult to image without over emphasizing the background.
This is the first issue and the Perth Mint has announced a new design for 2008. I think this fits into my “oh, neat” catagory for being part of my collection.
May 16, 2007 | coins, commemorative, foreign, fun
Every so often, you have to buy a coin or a set of coins because they are just neat. Here is something about my recent purchase.
One of my non-numismatic interests are motorcycles. I used to love riding bikes in my younger days. It was fun to drive through the woods that were behind the house we lived in during my teen years. Unfortunately, real life has limited my current interest to watching the guys on American Chopper create neat bikes. For my mid-life crisis, I will buy a nice motorcycle—maybe one of those wonderful OCC bikes!
Last year, the Federal Republic of Somalia issued a set of six coins in the shape of guitars. These non-circulating legal tender coins were made from silver plated copper-nickel shapes and enameled with the design. They are non-circulating legal tender issued at the value of one dollar, even though the shilling is the standard currency of Somalia.
This year the theme is motorcycles. The six coin set is based on designs of Harley Davidson motorcycles and other bikes. With my interest in motorcycles, I decided to buy the set at the last Whitman Baltimore Coin and Currency Convention. I think these coins rank on the “oh neat” scale!
It is not enough to post images here, coins like these have to be displayed. I want a display that enhances their “oh neat” appeal. One idea is to frame the coin with a sheet of the Postal Service’s American Motorcycle Stamps. A full sheet of the stamps would be framed in the center of a mat and three coins on either side. But while surfin’ the Internet, I came across the Sturgis Motorcycle Museum. In their Museum Gift Shop they offer the framed motorcycle stamps canceled on the First Day of Issue that were first made available at the 2006 Sturgis Motorcycle Rally. I may buy one and see if I can incorporate the coins into that display or use it for another.
Either way, these coins are neat!
Click on image to see a larger version.
Jan 30, 2007 | coins, foreign, panda
The People’s Bank of China announced that they will issue a set of commemorative Panda bullion coins in gold and silver to commemorate the 25th Anniversary of issuing the Panda bullion coins. Released on January 25, the coins will feature the different reverse designs of the Panda silver and gold coins for the last 25 years. The obverse of the coin will feature the Hall of Praying for Good Harvest of the Temple of Heaven in Beijing, the title of the People’s Republic of China, year 2007, the Chinese characters that will translate to “Chinese Panda Gold (or Silver) Coin Commemorating its 25th Anniversary.”
The 1/25th ounce .999 gold Panda anniversary coins will be 12mm in diameter and have a face value of 15 yuan. Mintage is limited to 18,000 of each coin.
The quarter-ounce .999 silver Panda anniversary coins will be 25mm in diameter and have a face value of 3 yuan. Mintage is limited to 30,000 of each coin.
Both gold and silver coins were minted by Shenzhen Guobao Mint, Shanghai Mint, and Shenyang Mint. China Gold Coin, Inc. will distribute these coins for The People’s Bank starting January 25, 2007.
I have written in the past of my appreciation for the silver Panda coins. And like a lot of people, I also appreciate the cuddly look of the Giant Panda. Although I am interested in purchasing a silver set, the price may be an issue. As I was searching the Internet for availability, I saw one major dealer who has set pre-sale prices at $399 for the silver set and $1,199 for the gold. As they are distributed to other US dealers, I will compare prices looking for the best deal.
Jan 16, 2007 | coins, foreign, other
Defense Security Services (DSS) issued a press release stating that summary report claiming that radio frequency transmitters were found in Canadian coins is not true. “This statement was based on a report provided to DSS,” according to the release. “The allegations, however, were found later to be unsubstantiated following an investigation into the matter.”
DSS is blaming an editing error with the item appearing in the report.
Although the release said the story was not true, The Associate Press quoted agency spokeswoman Martha Deutscher saying, “What’s in the report is true. This is indeed a sanitized version, which leaves a lot of questions.”
Jan 11, 2007 | coins, foreign, other
United State Defense officials are reporting that American contractors were carrying coins planted on them in Canada that contained radio frequency identification (RFID) transmitters. RFID transmitters are small chips that contain a small power source to allow these items to broadcast small bits of information. RFID is used for inventory tracking, security tagging, keyless door locks on cars, and electronic toll systems. Transmission ranges can vary by the type of chip used and the environment.
Reports confirm that an unidentified Canadian coin was hollowed out and its metal replaced with the RFID transmitter. The coins were “planted” on three security cleared contractors between October 2005 and February 2006 as they traveled through Canada.
RFID transmitters can be used to track the movements of those carrying the coins. “You might want to know where the individual is going, what meetings the individual might be having and, above all, with whom,” said David Harris, a former Canadian Security Intelligence Service (CSIS) officer. “The more covert or clandestine the activity in which somebody might be involved, the more significant this kind of information could be.”
Containers made to look like US dollar coins are a familiar tactic to US intelligence agencies. The CIA displays such a case on their museum website. The International Spy Museum in Washington, DC has similar displays. 
As for Canadian coins, the most likely coin used is the $1 coin, nicknamed the Loonie because its traditional reverse design features a Common Loon, a dominant bird in Canada. The Loon is 26.5 millimeters in diameter and 1.95 millimeters thick. The $2 coin, nicknamed the Twoonie, is a bi-metallic coin and would be more difficult to modify.
Although the type of RFID chip has not been identified, experts are saying that the transmitter in a coin would have a limited transmission range. It is said that the metal casing could constrain its range. Some of the technologies do have limited transmission ranges, but there are versions of the technology that could be tracked for a few kilometers.
“I’m not aware of any (transmitter) that would fit inside a coin and broadcast for kilometers,’ said Katherine Albrecht, an activist who believes such technology carries serious privacy risks. “Whoever did this obviously has access to some pretty advanced technology.”
The risk of the carrier spending the coin is great. but the ability to track a potential target would be a risk spies might take. As our Canadian friends search their change, they may want to see if the coins have been hollowed and contains an RFID chip. That would be an interesting find!
Nov 22, 2006 | coins, foreign
While participating in the Collectors’ Society’s chat boards, we had a discussion about the silver Britannia bullion coin series. Since I had done some research on these coins, I shared what I had and had read the responses from the other members. They provided a lot of good information. Unfortunately, since the Collectors’ Society’s chat boards are very active, this great information would end up being buried in the board’s archives. Rather than seeing that information get lost, I created a page describing these beautiful coins.
In creating this page, I added additional information on the mintage numbers and looking up the symbolism of how Britannia is depicted on the coins. The mintage numbers are not entirely correct. To find out the accurate mintage figures, I wrote to the Royal Mint asking if they can provide the information. These will be added to the page when (or if) the Royal Mint sends this information to me.
The link to this page will be available in the sidebar on the left side of this page. Let me know what you think about the Silver Britannia page.
Oct 9, 2006 | coins, foreign, legal
A friend sent an article from Canadian Broadcast Company website entitled RCMP find fake coin factory near Montreal. The story claims that the Royal Canadian Mounted Police and Quebec Police “have broken up a highly sophisticated counterfeit ring that was manufacturing fake loonies and toonies”
For those who do not collect or use Canadian money, loonie; is the nickname of the Canadian one dollar coin. The name was adopted because the reverse of the coin has an image of the common loon. The toonie is the nickname of the Canadian two dollar coin as being worth “two loonies.”
The RCMP said that this is the first time that they have seen a counterfeit coin ring in Canada and worry about the number of coins that have been placed in circulation. It is being reported that the quality of the coins are so good that it may be difficult for the ordinary consumer to tell the difference between the real and fake coins.
It would be interesting to have a copy of these coins as a collectible. If you have one of these loonies or toonies, and can verify that they are counterfeit, I will pay US$10 (total, plus postage) for one of each of the fake coins plus a real 2006 loonie and toonie. Package them as tokens and numismatic collectible that are not to be used as currency to satisfy customs requirements. Contact me to make arrangements.
Numismatically, the 2008 Beijing Olympics has produced interesting collectibles. One collectible many have missed is a 10 Yuan note with an image of the The National Stadium, nicknamed the Bird’s Nest, rather than the traditional image of Chairman Mao Tse-tung. The reverse has the primary image of a discus thrower and smaller vignettes of other activities.
The Bank of China (Hong Kong) (BOCHK) also issued a HK$20 note (US$2.56). Long lines were reported outside BOCHK offices when the notes were made available to the public. Although 4 million notes will be printed, they are not expected to see circulation. Reports say that 3.76 million notes will be sold in Hong Kong for HK$138 (US$17.68) to HK$1,338 (US$171.53).
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