A few weeks ago, the Royal Mint published a survey that said British collectors love the new 50 pence series featuring childhood characters. The series has been attracting new collectors of the various 50p coins. They report increased sales in the colorized coins.
2021 Canada circulating 10-cent coin featuring a splash of color honoring the 100th Anniversary of the Bluenose (Royal Canadian Mint image)
This week, the Royal Canadian Mint announced that they would issue a colored 10 cent coin to celebrate the 100th anniversary of the Bluenose. The Bluenose was a famous fishing schooner launched from Nova Scotia in 1921. Canadians nicknamed the vessel The Queen of the North Atlantic. An image of the Bluenose began its depiction on the Canadian 10-cent coin in 1937.
The dual-dated coin will include a splash of blue on the design that represents the water. The Royal Mint and Bank of Canada have begun circulating the coin this week.
The new 10-cent coin is not the first circulating colorized coin. In 2004, the Royal Canadian Mint produced a 25-cent coin with a red poppy to honor Canadian veterans. In 2006, they produced a 25-cent coin with a pink ribbon in support of Breast Cancer research.
Canadians do not have the same hangups about what constitutes a coin as their U.S. neighbors. Regular contacts report that Canadians welcome the new coins excitement. Many suspect people will pick the coins out of circulation as soon as they enter, similar to the red poppy and breast cancer awareness 25-cent coins.
Imagine the reaction if the U.S. Mint produced a colorized circulating coin?
And now the news…
October 18, 2021
Archaeologists from the Israel Antiques Authority (IAA) have excavated a hoard of silver coins from the Hasmonaean period in Modiin-Maccabim-Reut, Israel.
→ Read more at heritagedaily.com
October 19, 2021
WASHINGTON – The U.S. Department of the Treasury has approved an image of former Principal Chief Wilma Mankiller with “a resolute gaze to the future” for the reverse side of a 2022 quarter as part of the U.S.
→ Read more at cherokeephoenix.org
October 20, 2021
A man was “completely amazed” to find one of the US’s first struck coins in a forgotten sweet tin. The Hon Wentworth Beaumont said he found the mid-17th century New England shilling in an old Barker and Dobson sweet tin at his father’s home among a collection of old coins.
→ Read more at standard.co.uk
October 21, 2021
The People’s Bank of China has launched a set of Panda precious metal coins, in celebration of the iconic Panda series’ fortieth anniversary on October 20. The range includes the first platinum Pandas to be released since 2005.
→ Read more at miningweekly.com
October 21, 2021
Conservation workers have discovered a 127-year-old farthing which had been placed under the mast of Nelson’s flagship, HMS Victory, for good luck.
→ Read more at uk.news.yahoo.com
October 21, 2021
By Anil Dhir Bhubaneswar: Netaji Subhas Chandra Bose had declared the formation of the “Provisional Government of Free India” at Singapore on the 21st Oct 1943.
→ Read more at orissadiary.com
October 22, 2021
Image Credit : Dr Marek Florek Archaeologists from the Maria Curie-Skłodowska University (UMCS) have excavated another medieval treasure hoard in Zawichost-Trójcy, Poland.
→ Read more at heritagedaily.com
October 22, 2021
Households were not only hoarding canned goods and toilet paper during the coronavirus pandemic, they were also stockpiling rolls of coins. Demand was so high for 20¢, 10¢ and even 5¢ pieces when COVID-19 sent the nation into lockdown that the Royal Australian Mint was forced to double shifts to produce enough change to keep up over the past financial year.
→ Read more at smh.com.au
October 24, 2021
OTTAWA — You could soon have a little splash of blue in your pocket, with a new dime from the Royal Canadian Mint commemorating a national icon. The Mint is launching Canada’s first-ever coloured dimes to commemorate the 100th anniversary of Bluenose, the famous fishing schooner that graces the coins.
→ Read more at ottawa.ctvnews.ca
With everything that is going on, coin collecting is still a fun hobby, and there are a lot of coins to collect. I am proudest of my almost complete collection of proof American Silver Eagle coins.
From 1986 to 2019, my father bought two proof American Silver Eagle coins. One was for his collection, and the other was mine. When the U.S. Mint issued special sets, I would purchase one for myself and attempt to purchase one for my father. I was able to purchase the 25th Anniversary Set for myself but could never buy one for my father. On the secondary market, too many sets were broken up and graded, ruining the grandeur of the five-coin set.
I am missing the 1995-W American Silver Eagle.
Although there have been problems with the U.S. Mint’s e-commerce site, I have been able to keep up with my American Silver Eagle collection. Recently, the U.S. Mint shipped the American Silver Eagle Reverse Proof Two-Coin Set. My set arrived before I left town for the weekend.
Like many collectors, I love the look of reverse-proof coins. The shiny devices make the design stand out. When I show the coins to non-collectors, the coins make an impression.
What does not make an impression is the package.
For a set that costs $175, the package feels cheap. The insert is cheap plastic that holds onto the coin so tight that the coin is difficult to remove. The box is thinner cardboard, and it is not in a clamshell box, like other sets. The package appears as if the U.S. Mint modified it from a copper-nickel clad proof coin.
The U.S. Mint might think that the package does not matter. There will be collectors that will take the coins out of the package and send them to a third-party grading service. This attitude does not consider those who prefer to keep the coins in the original government package (OGP).
My entire collection of American Silver Eagle proof coins is in its OGP. The 2021 set looks like an afterthought next to the 2013 West Point and 2012 San Francisco two-coin sets.
At least the coins are gorgeous!
One of the reasons for the delay with the Weekly World Numismatic News is that I have been looking into a report of worldwide e-commerce issues under the radar.
After ordering a box of flips and other storage products from a small company, a representative called to say that the transaction did not go through. According to the representative, overseas attackers are trying to hack shopping cart sites to steal merchandise and credit card information. Rather than attacking the entire site, the hackers are targeting individual shops. They are looking for sites that are not configured correctly.
During the telephone call, the representative said they turned off credit card verification and the system “throws the credit card away.” I know this vendor, but I am still not comfortable.
E-commerce is supposed to make purchasing goods and services more accessible. But when hackers are driving vendors to verify credit cards by telephone, it is not making e-commerce easy. Thankfully, I received an announcement for local shows. Maybe it’s time to spend money there.
By the way, a source told me that the Baltimore Convention Centre would be open when the Whitman Expo is scheduled in November.
And now the news…
October 8, 2021
Subscribe now! EUREKA — Walker Hilbert sat on the ground one recent Saturday, next to a small mound of dirt. He waved a wand above the soil, and the device chirped encouragingly.
→ Read more at stltoday.com
October 14, 2021
King County sheriff warns of counterfeit bills FALL CITY, Wash. — A Fall City grocery store fell victim to a man using a counterfeit $100 bill Tuesday, according to the King County Sheriff’s Office.
→ Read more at kiro7.com
The weekly numismatic news report is late for the same reason the U.S. Mint cannot run an ordering system. It seems that the dangers to online systems are growing.
Every week, I am receiving reports from collectors being scammed by Chinese counterfeiters. People are providing pointers to websites and other sellers that are pushing counterfeit coins. The most common coin is the American Silver Eagle.
Last week, the parent company of HiBid, one of the largest online auction platform after eBay, was struck with a ransomeware attack. HiBid was taken down Thursday, September 30 through Monday, October 4. To add insult to injury, HiBid crashed again on Sunday, October 10 because bidders overloaded their systems.
As I am looking for new business opportunities, several eBay sellers are also looking for alternate selling venues. They are complaining about how eBay has handled the conversion to charging sales tax collection. New programs do not include the small sellers. Although eBay has always preferred high-volume sellers, now they are adding programs to benefit those that sell high-value items. And some sellers are reporting driven crazy by eBay’s new payment system.
With all this happening, then how does one buy online? I have been buying from eBay. It has been a convenient way to find interesting out-of-print numismatic books and tokens from New York. My other buying venues have been the U.S. Mint, the Royal Mint, and Apmex.
Maybe it’s time to look for other purchase venues.
October 5, 2021
Two men have denied charges relating to a Viking hoard of historically important coins and silver worth almost £1m. Roger Pilling, 73, and Craig Best, 44, appeared before Durham Crown Court to plead not guilty to all charges.
→ Read more at news.sky.com
October 5, 2021
Over 600 coins unearthed in a field in western Zealand will initially go on display at Sorø Museum before moving to the capital It has emerged that a significant silver coin treasure from the late Viking Age has been discovered in Denmark.
→ Read more at cphpost.dk
October 6, 2021
A pensioner's secret stash of rare coins has sold for a staggering £185,000 at auction – well over double the estimate. John Cross, 72, from Canterbury, died with few knowing of his extraordinary collection, which has been described by experts as among the most important of its kind outside any UK museum.
→ Read more at kentonline.co.uk
The $1 trillion coin concept turns up like a bad penny.
Also turning up are all pundits, politicos, reporters, and sycophants explaining why the U.S. Mint should or should not strike the coin. The problem is that EVERYONE IS WRONG!
Let’s look at the FACTS.
FACT: Before a coin leaves the U.S. Mint, the purchaser must pay for the coin.
The Federal Reserve purchases business strike coins at face value. The money is deposited in the U.S. Mint’s Public Enterprise Fund.
Collectors pay for collector coins through the U.S. Mint’s retail and e-commerce operations. When the money is collected, they deposit the funds in the U.S. Mint’s Public Enterprise Fund.
FACT: The United States Mint has successfully argued in court that a coin is not legal tender until it is paid for.
After the U.S. Mint discovered the existence of several 1933 Double Eagle coins that were supposedly melted, the Secret Service investigated and seized several coins. Through the 1950s, government lawyers argued that the coins were government property since the coin was never monetized.
During the case of the Farouk-Fenton double eagle coin, the government used the same argument. Even though there was an export license for the coin issued to King Farouk of Egypt, the government maintained that the lack of monetization made the coin illegal.
As part of the $7,590,020 paid for the 1933 Double Eagle in 2002, $20 of the purchase price was paid to the U.S. Government to monetize the coin. When Sotheby’s sold the coin in June for $18,872,250, the coin came with a certificate from the U.S. Mint declaring its Legal Tender status.
If the U.S. Mint does not monetize a coin until someone or entity buys it, then how will striking a $1 trillion coin help anything?
Even as crazy as government generally accepted accounting principles (GAAP) may appear to the commercial market, Government GAAP still requires double-entry bookkeeping. In double-entry bookkeeping, if an asset is added to one part of the ledger, there must be a debit on another.
Forget the political arguments about the debt. When the government needs money, it sells bonds to finance its obligation. The bond is the created asset, as the coin. The asset is purchased, adding cash to the general treasury. In bookkeeping terms, an asset entry and an associated debit entry.
Who is going to buy the coin?
The Federal Reserve is not going to buy the coin. Bonds, warrants, and other investments have tangible returns. The investments have value and can be traded on the equity markets keeping the books balanced. What happens if $1 trillion is tied up in a non-investing asset?
If the Federal Reserve buys the coin, the general treasury may see a $1 trillion windfall, but the Federal Reserve will have $1 trillion less economic power. It is $1 trillion less in short-term loans to large financial institutions and quantitative easing that is keeping the economy in control.
If the Federal Reserve buys the $1 trillion coin, it will create a $1 trillion hole in the economy.
The U.S. Gross Domestic Product (GDP), the monetary value of all goods and services, is estimated at $22.675 trillion. Taking $1 trillion out of the economy will reduce the economy by 4.4-percent.
As the Great Recession of 2008 raged, the GDP lost 1-percent of its value by 2009. If a one percent drop caused the most significant economic calamity since the Great Depression, what will happen if the GDP contracts by more than 4-percent?
Of course, Congress can pass a law that changes how the U.S. Mint determines the legal tender status of coinage they manufacture. But the likelihood of that happening is about the same as the U.S. Mint striking a $1 trillion coin.
It has been a few months since I reported on the numismatic-related bills in Congress. For the last few months, there has been little to report. Members of Congress have introduced several vanity bills, but watching their actions has been frustrating.
Regardless of the side of the aisle you follow, Congress is a very frustrating body. Members live in their own world, interested in what they can do to make them look better. When a citizen is interested in something that is not prominent in the daily news cycle, the response is cold or non-existent.
In the last few months, I tried to inquire about the scheduling of hearings in the Congressional committees regarding coin legislation. There were no answers.
For the last ten years, every Congress has promised to return to regular order. It seems that what we have now is regular order, meaning that coin-related legislation will not be heard until a holiday period or during the lame-duck session in 2022.
Welcome to the new regular order.
H.R. 4429: Semiquincentennial Commemorative Coin Act
Summary: This bill directs the Department of the Treasury to mint and issue $25.00 gold coins, $2.50 silver coins, 25 cent clad coins, and proof silver $2.50 coins in commemoration of the 250th anniversary of the establishment of the United States. The designs of the coins shall be emblematic of the semiquincentennial anniversary of the establishment of the United States of America and celebrate 250 years of our nation. On each coin there shall be
- a designation of the value of the coin;
- an inscription of the years 1776-2026; and
- inscriptions of the words Liberty, In God We Trust, United States of America, and E Pluribus Unum.
Treasury may issue coins under this bill only during the period beginning on January 1, 2026, and ending on December 31, 2026. All sales of coins issued shall include a surcharge as prescribed by this bill. All surcharges received by Treasury from the sale of such coins shall be paid to the America 250 Foundation to fund the restoration, rehabilitation, and interpretation of units of the U.S. National Park System and its related areas, as a legacy of the semiquincentennial commemoration.
Introduced in House — Jul 13, 2021
Referred to the House Committee on Financial Services. — Jul 13, 2021
S. 2384: Semiquincentennial Commemorative Coin Act
Introduced in Senate — Jul 20, 2021
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. — Jul 20, 2021
H.R. 4703: Sultana Steamboat Disaster Commemorative Coin Act of 2021
Summary: This bill directs the Department of the Treasury to mint and issue $5 gold coins, $1 silver coins, and half-dollar clad coins in recognition and remembrance of the Sultana Steamboat explosion of 1865. The designs of the coins shall be emblematic of the historical significance of the Sultana disaster, with special recognition and remembrance given to the lives lost, including the recently released Union soldiers returning home after having been prisoners of war during the American Civil War at Confederate prisons located at Andersonville and Cahaba. Treasury may issue coins minted under this bill to the public only during the one-year period beginning on January 1, 2023. All sales of such coins shall include a surcharge to be paid to the Sultana Historical Preservation Society, Inc. to establish and maintain a new Sultana disaster museum.
Introduced in House — Jul 27, 2021
Referred to the House Committee on Financial Services. — Jul 27, 2021
H.R. 5232: Working Dog Commemorative Coin Act
Introduced in House — Sep 10, 2021
Referred to the Committee on Financial Services, and in addition to the Committee on the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. — Sep 10, 2021
H.R. 5472: To amend title 31, United States Code, to limit the face value of coins.
Introduced in House — Sep 30, 2021
Referred to the House Committee on Financial Services. — Sep 30, 2021
While perusing the news across the Internet, I noticed that The Sun, the British tabloid with a mix of interesting news and other cultural stories, has launched a version for the United States. The Sun also has an assignment editor responsible for hyping sales U.S. coins on eBay.
The Sun is searching eBay for interesting coins and hyping the prices as part of their U.S. Edition (Image courtesy of The U.S. Sun)
In the U.K. version of The Sun, someone watches eBay auctions and writes about whatever sells for more than face value. There are many stories about the extraordinary prices for the sale of 50 pence circulating commemoratives, error coins, and some demonetized the Royal Mint issues.
Now that The Sun is publishing for the United States market, an editor is watching eBay for the sale of U.S. coins. Although most of the stories have been about error coins, they have picked up on higher prices of classic coins. Almost all of their stories have been about what appears to be well-preserved ungraded coins. These are the type of coins that someone might find in a relative’s draw.
These columns have a lot of fans in the United Kingdom. It will be interesting to see if they catch on in the United States.
And now the news…
September 27, 2021
Freedivers in Spain notified the authorities after finding a handful of gold coins dating to the fall of the Western Roman Empire (Image credit: Xàbia City Council; University of Alicante )
→ Read more at livescience.com
September 28, 2021
Research commissioned by the South African Reserve Bank (SARB) shows that there is an economic case for introducing a R10 coin in South Africa – however, there are concerns about uptake from the public, says Pradeep Maharaj, the central bank’s chief operating officer.
→ Read more at businesstech.co.za
September 29, 2021
FacebookTwitterWhatsAppEmailPrintFriendly A commemorative $1 coin issued by the Royal Canadian Mint marks the 125th anniversary of the discovery of gold in the Klondike region of Yukon.
→ Read more at rcinet.ca
October 2, 2021
The story of how a poor Irish migrant from Donegal became the face of American’s ten-dollar gold coin has been made into a documentary. Mary Cunningham, a native of Carrick, was working in a restaurant in New Hampshire when she caught the eye of the famous sculptor Augustus Saint-Gaudens.
→ Read more at irishcentral.com
October 3, 2021
MANILA – The Bangko Sentral ng Pilipinas (BSP) on Sunday called for a law against hoarding of extremely large volume of coins after some P50 million worth of loose change were found in Quezon City last week.
→ Read more at news.abs-cbn.com
The news of the week came on a Friday night news dump by the Treasury Department, announcing that David J. Ryder will resign as U.S. Mint Director as of September 30, 2021. Alison Doone will become the U.S. Mint’s Acting Director.
David J. Ryder, Director of the U.S. Mint.
Ryder served as the 34th and 39th Director after being appointed by two different administrations. Ryder came into this term touting his work with physical money security. During his confirmation hearing, Ryder said he worked for Secure Products, a company focused on developing anti-counterfeiting solutions for currency and branded products. Ryder also testified that he was involved in developing the Royal Mint’s new 12-sided one-pound coin.
The U.S. Mint claims security measures built into the new American Silver and Gold Eagle coins. However, there do not seem to be breakthroughs similar to those used by the Royal Mint and Canadian Royal Mint on their bullion products.
Ryder may want his legacy to be introducing new products, but the public will remember the colossal failure of the U.S. Mint’s e-commerce system. As Director, he was supposed to oversee the entire operation and not just one aspect. Those failures will weigh on his legacy.
Alison Doone is a career civil servant who entered the Senior Executive Service (SES) in 2004. After working at several other agencies, Doone served as the Mint’s Chief Administrative Officer since March 2021.
The Federal Vacancies Reform Act of 1998 requires the president to send a nomination to the Senate within 90 days to fill a vacant position. During that time, an acting director can serve in that role for only 180 days. As we saw in the 2,629 days (7 years, 2 months, and 13 days) between the resignation of Edmund Moy and the confirmation of David Ryder, the government has ways to get around the law to maintain operational consistency.
And now the news…
September 17, 2021
If artifacts could talk, we’d love to hear this one’s tale. This pierced German coin from the 17th century was recovered during a systematic excavation at the Jacob Jackson Home Site, part of Harriet Tubman Underground Railroad National Historical Park (HATU).
→ Read more at nmscarcheologylab.wordpress.com
September 17, 2021
Readers of a certain age will remember the florin, or flóirín as it was in Irish. Those of an uncertain age will even recall when it was Ireland’s two-shilling coin, complete with the leaping salmon of Percy Metcalfe’s classic 1928 design.
→ Read more at irishtimes.com
September 22, 2021
The coin, known as the Triple Unite, was minted in Oxford in 1643 during the English Civil War and had the value of 60 shillings, or three pounds.
→ Read more at bbc.com
September 23, 2021
LAKE MARY, Fla. – A Florida teenager recently made a spectacular find while on an ocean dive: a rare gold coin believed to be from the 1715 Spanish Treasure Fleet.
→ Read more at fox35orlando.com
September 24, 2021
(CNN) — Two amateur free divers have found one of the largest collections of Roman coins in Europe off the east coast of Spain. Luis Lens and César Gimeno were diving off the island of Portitxol in Xàbia on August 24 when they found eight coins, before further dives by archaeologists returned another 45 coins, according to a press release from the University of Alicante on Tuesday.
→ Read more at edition.cnn.com
When I wrote that the “Chinese Counterfeiters Are Back” last month, several people wrote to me saying they were never gone. My point was that they have crawled out of their collective holes and started to flood social media with advertising for counterfeit coins.
Two counterfeit American Silver Eagles purchased from LIACOO, a company based in China who advertised on Facebook.
Over the last few weeks, I have been counseling several people about requesting a chargeback for receiving counterfeit merchandise. Requesting chargebacks have their problems, too. Some credit card issuers will use the chargeback as an excuse not to renew your credit card.
During this time, another group has been trying to work with Facebook to stop the scammers from reaching consumers.
On Monday, three numismatic groups sent a letter to Facebook Founder Mark Zuckerberg asking why he did not respond to a similar letter a month ago. The letter was signed by Doug Davis, Director of the Anti-Counterfeiting Educational Foundation, Mark Salzberger, Chairman of Numismatic Guaranty Company, and Bob Brueggeman, Executive Director of the Professional Numismatists Guild. You can read the press release and letter here.
It is not surprising that Facebook and Zuckerberg have not answered previous letters. If you watch other media reports about Facebook, the company is notorious for trying to sweep issues under the proverbial rug until something brings it to the forefront. While Facebook claims they are responsive to the communities, they respond solely when someone yells and causes an uproar.
Although some find Facebook useful, it is a cesspool of scammers and trolls playing on the gullible looking to prove P.T. Barnum correct: There’s a sucker born every minute.
News organizations worldwide have reported how criminals use Facebook advertising for crimes, including selling counterfeit merchandise, false activism (e.g., Fake News), and human trafficking.
Facebook’s response has been the same. They promise to try harder and look to add code to help protect their users. The result is that they try to implement a technical solution that works to the point of being able to placated the current activists. The problem is that while Facebook depends on artificial intelligence to protect its platform, company leadership has not shown any real intelligence to understand that there may not be a technical solution to every problem.
It is easier for Facebook to scan for words that someone believes are hurtful than to look at an advertisement selling a one-ounce silver coin for less than its silver value. Besides, the alleged bully is not paying for to have their content distributed to a target audience that includes you.
Facebook really doesn’t care because they are getting paid. They were being paid as late as 2018 by a Russian troll bot for placing activist ads after being admonished for accepting campaign ads paid in Russian rubles in 2016.
Zuckerberg and company do not care. He is getting paid and so is their management. They lie just enough to get past alleged watchdogs in a way to keep confidence in their market price. After all, Facebook stock (NASDAQ: FB) is up 32.25% for the year as of Sep 20, 2021. Why should they care what you think about their advertisers? In the meantime, consumers are getting defrauded by scammers allowed to roam freely by a company that advertises on television as being a place to build a community.
Do not expect help from the government. In between their partisan fighting, members of Congress do not have the knowledge or competence to figure out how to fix the issue. Most members of Congress are lawyers with no technical background nor did any study the technical issues enough to make competent decisions.
Although Congress is to blame, the voters must accept their part of the responsibility. Instead of voting in competent people, they send these old folks with no technical background back to Washington. Many have held their seats for over 20 years without any incentive for advancement. So they grow old without learning new ways and blame everyone else for what they are not doing. Think of the problem like this: 26 of the 100 Senators are 70 years of age or older. None of these people had any experience with computers as students or early in their careers. Most can barely use a smartphone (Steve King actually asked Google CEO Sundar Pichai why his daughter’s iPhone behaved strangely). Even if they did, when was the last time you saw an elderly member of congress with a computer or even a smartphone?
Davis, Salzberg, and Brueggeman will have an uphill battle with Facebook. Everyone does. But the ACEF and PNG need to think beyond talking reason to Zuckerberg. They need to work with Congress to help them understand the technologies and what regulations will be effective without putting undue limits on the technology companies.
NOTE TO THE DAVIS, SALZBERG, AND BRUEGGEMAN:
I know of one person in the numismatic industry that has a background in technology and public policy. This person worked as a contractor to the federal government for 25 years as an information security analyst. This person worked for a PAC concerned with numismatic issues and has a Masters’ with a concentration in information security and technology public policy from Carnegie Mellon University. You can contact this person at coinsblog.ws/contact
Yes, I’m a day late. At least I’m not a dollar short!
It is not a surprise to economic and market watchers that there is a perceived coin shortage. The problem is not just in the United States, but worldwide central banks are trying to fix their circulation issues.
Over the last three months, the Reserve Bank of India (RBI) has been trying different tactics to get money to circulate. In addition to striking more coins, they promote new designs and a program for citizens to redeem old coins for the newly issued coins. It has a moderating effect on the COVID crisis at high levels in the country.
India has also been dealing with rumors one type of circulating coin has been counterfeited or been withdrawn and not legal tender. However, the RBI has insisted that the coins are legal tender but continue to promote them with the redesign.
The Royal Mint has stepped up the production of 1 penny coin for circulation. Physical money is used more in the UK than electronic transactions, especially outside of the cities. Although some feel the penny has been overproduced and would rather see the 2 pence coin used, the increase in the number of transactions since the lifting of COVID restrictions created the demand.
The United States continues to see shortages. Most of the reports are coming from outside of the major metropolitan areas. Most are looking for one-cent coins. Experts are blaming accelerated consumer spending in areas where cash payments are more prevalent. More populated urban regions are seeing more electronic transactions than cash.
Let’s keep the economy moving. Spend those coins! (not the ones you collect)
And now the news…
September 14, 2021
Bankers thought the nationwide coin shortage was over, as the U.S. economy reopened and previously housebound consumers were able to unload more of their change. But a combination of factors — including government stimulus payments, accelerated consumer spending and the threat of the COVID-19 delta variant — has stymied progress and forced retailers to resort again to asking shoppers for exact change.
→ Read more at americanbanker.com
September 14, 2021
Croatian National Bank (HNB) Governor Boris Vujčić said on Monday after meeting with European Commission Vice President Valdis Dombrovskis that a test production of euro coins with Croatian national motifs should begin by the end of this year, with possibly about two million coins being minted.
→ Read more at croatiaweek.com
September 15, 2021
LAS CRUCES – The Las Cruces Police Department received two reports of movie prop money that was passed as legal tender over the weekend, a news release on Monday stated. In the news release police stated movie prop money can look like actual currency but, in most instances, does not have the same texture.
→ Read more at lcsun-news.com
September 15, 2021
A very rare large gold coin from the reign of Charles I is expected to fetch £50,000 when it is sold at auction.
→ Read more at newschainonline.com
September 15, 2021
A huge hoard of Iron Age gold artifacts has been uncovered by an amateur metal detectorist in Denmark. The "enormous" find consists of almost one kilogram (2.2 pounds) of gold buried 1,500 years ago, according to a press release from the Vejlemuseerne museum, which will exhibit the hoard.
→ Read more at cnn.com
September 16, 2021
One penny coins were back in production last year after none were minted for general circulation in the previous two years, Royal Mint figures show.
→ Read more at bbc.com