Jan 27, 2019 | coins, foreign, news
Archaeologists found fragments of ceramic coin moulds at the site when they were carrying out repairs after heavy rain in late 2017.
(Photo: South China Morning Post)
With only a portion of the facility excavated, the archeologists found nine areas that could have been used as part of coin production. There was one kiln site that was likely used to create porcelain coin molds and eight ash pits. They also found copper coins, coin mold fragments, and other items that were used as part of the coining process.
The China Numismatic Society told news sources that the inscriptions on the molds date the facility to 9-23 AD and corresponds to the reign of Wang Mang of the Han Dynasty.
Finds like this shows how the use of money and numismatics can lead to better understanding of societies what may have been lost.
And now the news…
January 18, 2019
It’s been dubbed one of the loveliest coins ever minted and, almost two centuries after it was struck, it’s making headlines again. A rare gold five pound coin, featuring an idealised image of Queen Victoria in the early years of her reign, has sold for a six-figure sum at a private auction. 
→ Read more at royalcentral.co.uk
January 21, 2019
Archaeologists discover fragments of ceramic moulds, copper coins and a kiln site where an ancient government office once stood → Read more at scmp.com
January 22, 2019
“There used to be this thing called money,” people will say in the future. And children will laugh. “You’re joking,” they’ll say. → Read more at bostonglobe.com
January 23, 2019
Secret Service members are reportedly exchanging challenge coins that take a jab at the ongoing partial government shutdown. → Read more at thehill.com
January 23, 2019
The best-known U.S. Mint building in San Francisco is at Fifth and Mission streets, right across the street from the Chronicle building. The Old Mint is an imposing classical structure, but it’s been retired as a money-making plant for more than 80 years. By the early 1930s, the building was too antiquated to meet the increased demand for coins. So the U.S. Treasury found a second location, at Duboce and Buchanan streets, where a natural rock promontory could function as another layer of security. A search through The Chronicle’s archive uncovered photos of the construction of the New Mint in 1936, as well as the coin production work happening inside. → Read more at sfchronicle.com
January 25, 2019
The Royal Canadian Mint has uncovered the identity of the soldier who inspired its new silver dollar coin, which commemorates the sacrifice of Canadian soldiers on D-Day. → Read more at cbc.ca
January 25, 2019
A 10-year-old Indian boy who lives in Oman has collected more than 500 coins from across 120 countries. → Read more at timesofoman.com
Jan 20, 2019 | coins, commemorative, foreign, news
The 2019 coin commemorating currywurst has been called everything from ugly to the wurst (Image courtesy of Staatliche Munze Berlin)
Currywurst is considered the national fast food delicacy of Germany. It is a pork sausage that has been sliced part of the way through, boiled then grilled, and served smothered with ketchup mixed with curry powder. Curry powder is sprinkled on top.
According to a friend who spent time working in Germany, currywurst stands are as ubiquitous in Berlin and many other cities as hot dog stands are in New York. Depending on the stand, they can be served on buns, with sauerkraut, or fries. Since returning to the United States several years ago, he says that his family enjoys the German dish frequently.
Coins have been used to commemorate many things. Commemorating food on coins is nothing new. Coins have been used to commemorate agricultural products like wheat and corn. But aside from the (in)famous bottlecap-shaped coin, I cannot remember when a coin was used to commemorate a prepared food.
Now that the Berlin State Mint has broken this barrier, who’s next? Will the Royal Canadian Mint produce a coin honoring poutine? Or will the Royal Australian Mnt grace a coin with Vegemite? I don’t even want to think about a coin commemorating haggis!
And now the news…
January 7, 2019
Click image to enlarge MIDDLEBURY, Vt. – A coin collector from Lewiston, Maine, with no prior connection to Middlebury, has donated more than 1,000 ancient coins to the Middlebury College Museum of Art. → Read more at middlebury.edu
January 13, 2019
A German coin manufacturer has commemorated the country’s love of currywurst with a speciality coin to mark 70 years since the savoury snack was first sold in Berlin. The silver alloy coin, made by Staatliche Munze Berlin, or the Berlin State Mint, features an image of the delicacy’s inventor alongside two giant sausages drowning in curry sauce and pierced with a wooden fork, as is tradition. → Read more at expressandstar.com
January 13, 2019
A silver medal-thaler, issued by Romanian ruler Constantin Brâncoveanu in 1713, sold for USD 16,000 at a numismatic auction in New York, Profit.ro reported. Brâncoveanu, who was a prince of Wallachia between 1688 and 1714, was deposed from his throne by Sultan Ahmed III. → Read more at romania-insider.com
January 13, 2019
New Delhi: A new book traces India's numismatic history through 133 rare coins which are illustrative of the country's antiquity, ethos and traditions. In Suvarna Mohur: India's Glorious History Illustrated through Rare Coins by Arun Ramamurthy, Indian history has been divided into 20 epochs. → Read more at firstpost.com
January 14, 2019
The Maine Bureau of Veterans’ Services (MBVS) is pleased to announce the final design selection for the new State of Maine Honorable Service coin and plaque, which will honor all Maine veterans, past and present, regardless of their branch or era of service. → Read more at boothbayregister.com
January 14, 2019
SINGAPORE: The number of coins that a buyer can use in a single transaction will be streamlined and standardised to 20 coins per denomination after Parliament passed the Currency (Amendment) Bill on Monday (Jan 14). → Read more at channelnewsasia.com
January 14, 2019
Mobile coin exchange units are hitting the roads to encourage people to swap the loose change they have collected for easier to handle banknotes, so the coins can be recycled. The modified trucks, which are green and clearly marked with the Treasury Department logo, have a window along the side where the coins can be exchanged for notes of equal value. → Read more at bangkokpost.com
January 14, 2019
In Berlin, the participants of the most unusual robbery of recent years went on trial. Three young Arab migrants stole a considerable gold coin from the museum using only an ax handle, ropes, stairs, and carts. → Read more at en.crimerussia.com
January 16, 2019
Greater Houston Coin Club members have been on a mission to get kids involved in the hobby. → Read more at abc13.com
Jan 13, 2019 | Australia, coins, commemorative, news, US Mint
Pairing U.S. coins with a foreign coin for sale has been done in the past by the U.S. Mint. In 2002, the U.S. Mint offered the “Legacies of Freedom” This week, the U.S. Mint announced a collaborative project with the Royal Australian Mint to produce a commemorative coin set in celebration of the 50th Anniversary of the Apollo 11 Moon landing. The set will feature a U.S. Apollo 11 50th Anniversary Half Dollar paired with an Australian 50th Anniversary of the Moon Landing 1 oz. $5 Silver Coin.
The announcement noted that the set will be produced and sold by the Royal Australian Mint with marketing help from the U.S. Mint who will put a link on their website.
set. A limited edition of 50,000 sets that included an uncirculated American Silver Eagle $1 coin and a £2 Silver Britannia from the Royal Mint. These sets were created and marketed by the U.S. Mint with a price of $49.88 per set, noting that the spot price of silver was $6.39 per troy ounce.
Prior to that, the U.S. Mint produced the 2000 Leif Ericson Millennium Commemorative Set that included a 2000 Leif Ericson Proof Silver Dollar and a 1000 Kronur proof silver coin produced by the U.S. Mint for Iceland. It was the last coin the U.S. Mint produced for a foreign government. The U.S. Mint sold 86,136 sets at a price of $63 per set.
Since the set will be produced by the Royal Australia Mint, there are questions regarding the opportunities that may be missed by the U.S. Mint to do the same. For example:
- The press release says that it will be a “limited production set” but does not specify how many sets will be produced.
- Other than the legal requirements that the U.S. Mint shall not lose money on a commemorative coin program and that the half-dollar includes a $5 surcharge, what are the financial arrangements between the two government mints?
- Who will handle the fulfillment of orders from the United States? Those who have purchased items from Australia and New Zealand know that the because of shipping and customs restrictions, items can take 6-8 weeks to enter the United States before it can be given to the Postal Service for delivery.
These questions will be addressed to the U.S. Mint as soon as Tuesday. Even though the U.S. Mint continues to operate during the shutdown, offices in Washington, D.C. will be closed on Monday because of 8-12 inches of snow that covers the region.
And now the news…
January 5, 2019
Coins expected to bring increased security to economies of British territories and dependencies → Read more at theguardian.com
January 9, 2019
A penny that a Massachusetts teenager found in his change from lunch money could be worth as much as $1.65 million (£1.3 million) when it is auctioned off. → Read more at foxnews.com
January 9, 2019
My grandfather was a numismatist. William Evans Mullan II died over the weekend. The coin collection lives on. → Read more at djournal.com
January 10, 2019
Don Lutes Jr. kept the 1943 copper penny he stumbled upon in his high school cafeteria seven decades ago in a safe behind a wall in his Massachusetts home. → Read more at cnn.com
January 11, 2019
Jim Cramer shares his favorite ways to add gold to a portfolio and encourages investing in the precious metal if you’re nervous about 2019. → Read more at cnbc.com
January 11, 2019
BERLIN — Four young men have gone on trial over the brazen theft of a 100−kilogram Canadian gold coin from a Berlin museum. → Read more at manitobapost.com
Jan 7, 2019 | commentary, gold, news
Sorry for the one day delay, it was a busy weekend!
The important news is not being reported in the numismatic press nor by those who are supposed to watch over the industry. The important news is the government shutdown and its potential effects on the economy as a whole.
Market performance is like a disease. When one part gets infected the rest of the organism will follow. The part the economic organism that is getting infected is the Washington, DC area. Home to 15 companies in the Fortune 500 including government-sponsored Fannie Mae and Freddie Mac, The Washington Post is reporting that 174,800 people have been furloughed in the Washington, DC-area because of the shutdown.
When that many people are not getting paid they are not spending money and the economy gets stagnant. When a region as significant in size becomes stagnant, it is only a matter of time before it spreads to other areas including those where the federal government has the most impact including Alaska, Montana, and New Mexico. Farming states could also feel the impact since the U.S. Department of Agriculture is closed and cannot process subsidy (welfare) checks for farmers hurt by the trade war with China, potentially affecting the price of food.
Since the markets do not like uncertainty, investors tend to seek refuge in precious metals, primarily gold and silver. The problem is that there is so much news that timing the markets has given the market watchers whiplash as the uncertainty seems to force the professional investors (gamblers) to treat the market like they are playing the hokie-pokey: a little bit in, a little bit out, panic a little and shake all about the next news cycle.
The dollar is strong but that is because the Federal Reserve did not raise rates in December. While that averted a panic, the Fed may not be able to hold back if the shutdown continues and puts inflationary pressure on the economy.
With news cycles that could change at the drop of a Tweet, it does not make sense to try to time the market. However, if the price of gold climbing as a result of those in the equity markets looking for a safer haven, you may want to tell your representatives in Congress to work to end this shutdown. Although some would love to see $2,000 per ounce gold prices, it could negatively impact the economy and your ability to collect.
And now the news…
December 31, 2018
Have you ever wondered what happened to all the old, round £1 coins after they were removed from circulation? We just found out → Read more at mirror.co.uk
December 31, 2018
Chain restaurants Sweetgreen and Dig Inn in the US have already stopped accepting cash. Starbucks and UK pubs are also moving towards card and contactless. → Read more at dailymail.co.uk
January 1, 2019
U.S. Mint sales of American Eagle gold and silver coins dropped to their lowest … → Read more at reuters.com
January 2, 2019
Editor's Note: Kitco News has officially launched Outlook 2019 – Rush To Safety – the definitive reference for precious metals investors for the new year. We chose this year's theme as financial markets face growing uncertainty. → Read more at kitco.com
January 3, 2019
PolicÃa Nacional has issued a warning after a rise in reported cases of members of the public receiving the wrong currency in their change. Instead of being handed back euros, unsuspecting holidaymakers and expats are being short-changed with coins of much lower value compared to the euro. → Read more at express.co.uk
January 5, 2019
KIND-hearted shopkeepers are helping an Inverness youngster with her coin collecting hobby by setting aside specially-minted versions of 50p and £2 coins produced to commemorate historic occasions. A Girl Guides centenary 50p sparked the interest of Cradlehall Primary’s Isla Macdonald, who now has 40 special 50p coins and 30 differently designed £2 coins. → Read more at inverness-courier.co.uk
Dec 30, 2018 | coins, markets, news
While considering the news of the past week, the one thing that sticks out is the press release from the Professional Numismatic Guild. The release touts the strength of the high-end, rare coin market with a throwaway line that notes there may trouble for the general collector.
While prices declined during the year for some U.S. coins in easily available lower grades, hundreds of noteworthy coins from early American to modern that are among the finest known of their kind set auction price records….
Prices for collector coins are driven by two principles: the spot price of silver and other metals that were used to strike the coins; the ability for the supply to meet the demand.
Primary spot price that drives the general collector coin market is silver. Silver opened on January 2, 2018, at $17.06 per troy ounce. On Friday, December 28, the price of silver was $15.29. This is a decline of $1.80 for the year or 10.55-percent decrease. This is not something that has occurred in the last month as the stock market had problems. Silver reached its highest price on January 15 when it reached $17.325. The spot price of silver dropped below $17.00 on February 5 and has been on a steady decline all year.
There has been a steady decrease in the spot prices of silver in 2018
(chart courtesy of Kitco; this is a static chart and will not update)
But the price of silver alone is not enough to drive collector coin prices down to get PNG’s attention. The problem is the other part of the equation: supply and demand.
The supply of collector coins is not changing. The coin market is relatively stagnant since the U.S. Mint is no longer making Mercury dimes, Walking Liberty half dollars, or Morgan dollars. There may be an increase in those coins coming to the market as collectors liquidate or the families of deceased collectors liquidate, but is this more than usual?
The number of people collecting may not be enough to drive the market simply because numismatics is not as popular a hobby as it once was.
PNG notes that the success of their high-end business may be coming from investors, not collectors:
“With the stock market dropping during the fourth quarter of 2018 we saw an increase in interest in the rare coin market with some people taking profits from stocks and buying coins that have proven to show sizeable and consistent increases in value over the years, as well as buying precious metals,” said Professional Numismatists Guild President Barry Stuppler.
While it is good that the PNG touts the work of their members in the Top 10% of the market, the general public is not buying. PNG can pat themselves on the back all they want but if they are not helping the entire industry, they are losing the opportunity to turn a general collector into one of their customers.
Further, the American Numismatic Association, which is dominated by the same dealers who are members of the PNG, seem to have a blind spot that prevents them from seeing the general collector as a viable business model to cultivate.
There are only so many times that the industry can claim successes by selling the same 1913 Liberty Head Nickel before everyone, including investors, consider this a market with stale inventory.
This is not to say that the PNG dealers are bad people or have bad intentions. This is saying that the PNG needs to look beyond the top 10-percent of the market to ensure the other 90-percent is just as healthy. Without a market balance and without market diversity, the hobby will be in trouble. Even in the equity markets, low volume low capitalized stocks can cause harm to the market.
And now the news…
December 24, 2018
JEDDAH: The Kingdom’s fiscal trajectory in many ways mirrors the tribulations it endured before emerging as one of the world’s foremost trade and financial hubs. Before the Kingdom was unified by its late founder, King Abdul Aziz, the Arabian Peninsula had suffered its fair share of economic woes thanks to war and political strife within tribal factions. → Read more at arabnews.com
December 25, 2018
Coinages issued in Maharashtra dating back to 2600 BCE on display → Read more at thehindu.com
December 25, 2018
Gold prices advanced for a second straight day on Tuesday and rose Rs 125 on higher demand from local jewellers → Read more at livemint.com
December 27, 2018
In a sign of precious metals demand, sales of U.S. Mint American Eagle gold and … → Read more at reuters.com
December 27, 2018
Earlier this month, my friend Hugo Salinas Price emailed an interesting story about a single gold coin that that he still holds dearly. As I was shuffling papers in some old files, I came across a slip of paper on which I had written down the price I had paid for a Mexican $50 gold peso coin: 717 Mexican pesos. → Read more at moneymaven.io
December 27, 2018
Israel Antiquities Authority, JNF and Border Police stopped a band of thieves from stealing ancient coins from the Hukuk Synagogue archeological site in northern Israel on Thursday. "A quick response prevented damage to the magnificent and important treasures of the site," Nir Distelfeld, the antiquities theft inspector, said. → Read more at jpost.com
December 28, 2018
Operators of the historic Coin Press No. 1 inside Carson City's Nevada State Museum began striking silver medallions Friday with a commemorative Abraham Curry design created just for the occasion. On the last Friday of each month, the Nevada State Museum runs the coin press, which now mints unique collectible medallions. → Read more at carsonnow.org
Dec 23, 2018 | auction, financial documents, news, scripophily
Imperial Russian Government, 1917 Specimen 4% Savings bond sold at auction for $12,810 (Image courtesy of Archives International)
This past week, Archives International announced that a 1917 Imperial Russian Government 4% Savings Bond Specimen that was estimated at $400-600 sold for $12,810 with buyer’s premium. It was a record for Russian Specimen bonds.
Archives International is not the standard numismatic auction house many have come to recognize. They specialize in all types of financial paper from around the world. From 2007 to 2011 the firm handled American Bank Note Archives Auctions, Parts I through VIII, which included their entire archives of samples and other financial paper ephemera from the worldwide customer base of ABN through history.
Recognizing this accomplishment is not only good for Archives Internation but for the numismatic industry. It shows everyone that there is more to collecting numismatics than coins. It shows that you can take an interest in collecting currency, bonds, stock certificates, and other scripophily and still be a numismatist.
Somewhere in grandpa or grandma’s belonging may be a stock certificate for The Haloid Photographic Company, Computing-Tabulating-Recording Company, or Minnesota Mining and Manufacturing Company that may not be worth anything financially, but what a wonderful piece of history would be added to your collection!
And now the news…
December 16, 2018
KARACHI: The State Bank of Pakistan (SBP) on Monday issued Rs50 commemorative coin with regard to International Anti-Corruption Day, ARY News reported. The federal government had authorised the central bank for issuing the coin, which was made available at the exchange counters of all the field offices of SBP Banking Services Corporation. → Read more at arynews.tv
December 17, 2018
(ArtfixDaily.com) FORT LEE, N.J. – Archives International Auction’s “50th Milestone Auction” held on December 3rd & 4th, 2018 was highlighted by a 1917 Imperial Russian Government 4% Savings Bond Specimen estimated at $400 to $600 and hammering for $12,810 smashing all previous records for Russian Specimen bonds on December 3rd, 2018, the first day of a two day sale, held at the historic Collectors Club in New York City. → Read more at artfixdaily.com
December 17, 2018
Editor's Note: Kitco News has officially launched Outlook 2019 – Rush To Safety – the definitive reference for precious metals investors for the new year. We chose this year's theme as financial markets face growing uncertainty. → Read more at kitco.com
December 18, 2018
NATIONAL Police warn the public to keep an eye out for coin scam going around Europe once again. → Read more at euroweeklynews.com
December 19, 2018
A Tudor coin hoard found in Shropshire which features Henry VIII and all his children is on display at Ludlow Museum. → Read more at shropshirestar.com
December 21, 2018
CBK lauded over new currency that is friendly to the blind → Read more at standardmedia.co.ke
BONUS
I named three very significant companies above. If you have not guessed who they are today and have read this far:
- The Haloid Photographic Company
- Founded in Rochester, NY in 1906 as a company that manufactured photographic paper and equipment. In 1938, Chester Carlson invented a process for using an electrically charged dry powder that could be transferred to paper by pressing it on a roller. It took nearly 20 years to perfect before it became a product. The company coined the term “xerography” from two Greek words meaning “dry writing.” In 1961, the company was renamed Xerox.
- Computing-Tabulating-Recording Company
- Formed in 1911 to be the holding company for four companies: The Tabulating Machine Company, International Time Recording Company, Computing Scale Company of America, and the Bundy Manufacturing Company. The four companies made a range of products from time-keeping systems, scales, meat slicers, and punch card equipment. Thomas J. Watson Sr. was hired by CTC in 1914 after he was fired from NCR. He became company president in 1915. In 1924, Watson renamed the company the International Business Machines Corporation (IBM).
- Minnesota Mining and Manufacturing Company
- The company was founded in 1902 in Two Harbors, Minnesota to attempt to mine corundum in Minnesota and provide manufacturing support. When the mines turned out to be a failure, the company moved to Duluth and began to manufacture sandpaper. Over the years, the company found new products to manufacture and diverged from its mining roots. The name was too cumbersome to put in packages so they used the trade name “Three-M.” Later it was shortened to 3M and in 2002, the company officially changed their name to 3M.
As Paul Harvey used to say, “Now you know the rest of the story.”
Dec 22, 2018 | coins, grading, news
1996 Olympic Tennis Commemorative silver dollar “X” cancelled die encapsulated by NGC (Image courtesy of NGC)
Fees for this service range from $20 for a defaced die to $50 for a die that was canceled with an “X” to $100 for a die that was not canceled.
The holder appears to be similar to those used to encapsulate rolled coins. It will hold a die up to 40.6mm wide and 59.6mm tall, likely the largest die that the U.S. Mint would use to strike coins. The holder will be too small for the dies that would have struck 3-inch medals.
NGC does not say how the holders would keep smaller dies in place.
NGC will accept coin dies from any country.
Since I found coin dies interesting, I bought a few. Two Lincoln cent dies were ground down except still have a small part of the design visible. The other is a 1994 half-dollar obverse die. The one cent dies are on my desk at home and the half-dollar dollar dies is in my office.
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Lincoln Cent Dies from the Denver Mint
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Canceled obverse die from a 1994-D Kennedy Half Dollar
Having the die sitting on my desk is a great conversation starter. Visitors will ask what it is and when I explain they have the same reaction that I had when I bought it at the 2018 World’s Fair of Money: “ooo, neat!”
I am not sure how I feel about this news for the industry but I will not be submitting my dies for encapsulation. I do not think the die’s industrial look would look good entombed in plastic.
Dec 16, 2018 | coins, commemorative, dollar, news, US Mint
Patent X1 issued to Samuel Hopkins and signed by President George Washington on July 31, 1790 (USPTO Image)
On July 31, 1790, Samuel Hopkins was granted patent number X00001 for this method “in the making of Pot ash and Pearl ash by a new Apparatus and Process.” In June of this year, the U.S. Patent and Trademark Office (USPTO) issued Patent #10,000,000 based on the current numbering system that began in 1836. According to the USPTO, there were 9,433 patents issued from 1790 through 1835.
The other news from the U.S. Mint was the first strike ceremony for the Apollo 11 50th Anniversary Commemorative Coins at the Philadelphia Mint. Children of the three astronauts who flew on Apollo 11 represented their fathers at the ceremony: Mark Armstrong, Andrew Aldrin, and Ann (Collins) Starr.
Coins will be offered for sale to the public on January 24, 2019. The money raised from this commemorative coin program will benefit the Astronauts Memorial Foundation, the Astronaut Scholarship Foundation and the Smithsonian National Air and Space Museum’s “Destination Moon” gallery.
A pair of 5-ounce silver proof $1 coins struck during the First Strike Ceremony at the U.S. Mint (photo courtesy of collectSPACE.com)
And now the news…
December 10, 2018
Cash use has plummeted in Australia over the last few years but Eric Eigner isn't worried. "People will want to collect something that appears to be more scarce," he says. "I think it's a good thing to a certain extent." → Read more at smh.com.au
December 10, 2018
The patterns on Guangxi commemorative coins reveal special cultural elements and how the region has developed in the past 60 years. → Read more at news.cgtn.com
December 10, 2018
Museum intern Roo Weed ’18.5, a physics major, is using digital solutions to make the College’s rare coin collection more accessible to the public. → Read more at middlebury.edu
December 11, 2018
"> <META PROPERTY= → Read more at miningnewsnorth.com
December 14, 2018
From Alexander the Great to the Byzantium and the Middle Ages until the modern era all periods are covered in an exhibition featuring a rare collection of gold coins. This collection contains coins that are considered to have paved the way for the use of coins in world history and is being staged by the … → Read more at cyprus-mail.com
December 14, 2018
The United States Mint reveals a new coin collection to commemorate the 50th anniversary of the Apollo 11 moon landing. Item includes great video of striking coins in the mint → Read more at myhighplains.com
December 15, 2018
The U.S. Mint has struck its initial coins commemorating the 50th anniversary of the first moon landing. You could say it was one small strike for the Mint, one not-so-giant press for Apollo history. The coins were stamped as part of a "first strike" ceremony. → Read more at collectspace.com
December 15, 2018
The finds are "of great benefit" in helping understand Wales' "unique history", National Museum Wales says. → Read more at bbc.com
Dec 2, 2018 | bullion, coins, foreign, markets, news, platinum
While watching the numismatic news that appears in non-numismatic sources, I noticed that regardless of the predictions of cashless societies taking over, there are a few countries with interest in coins for both commerce and collecting.
By far, the one country that seems to have an affinity for coins is India. The news consistently highlights collectors who have coin collections of all sizes and varieties. Whether it is someone who has collected old Indian coins dating back to the Britsh control of the country to someone that collects foreign coins from visitors, there seems to be a story about coin collectors in one of the many Indian news publications.
The other country I can count on for consistent numismatic-related stories is China. Aside from stories about coin shortages and how the poorer areas of the country are hoarding coins, Chinese collectors seem to gravitate toward precious metal coins. Interestingly, Chinese collectors seem to like silver coins even though investors are chasing gold. This is understandable since silver coins can be bigger and cost less.
Recently, it was reported that Chinese collectors are chasing platinum as an investment option. Reports are being circulated that Chinese markets are investing heavily in South African platinum mines allowing the production to increase. With the spot price of platinum ($802.00) lower than the spot prices of gold ($1,222.10) and palladium ($1,170.00), the growth of platinum investment options has grown. The Hang Seng ETF (exchange-traded funds) Index has noted a significant increase in the trading of platinum futures.
Several publications have asked if this means that China is attempting to corner the platinum market. Since I am not a financial analyst, I am not sure. As a numismatist, it is interesting to see that platinum has a growing interest in China.
And now the news…
November 15, 2018
Grab your metal detectors! We are seeking some of the most valuable treasures ever discovered. From buried treasures to sunken treasures, lying beneath villages, towns, cities, farms, riverbeds, and in… → Read more at invest.usgoldbureau.com
November 25, 2018
The National Bank of Romania (BNR) has issued several coins to mark the 100-year anniversary of Romania’s 1918 Union. They are a gold coin, a silver coin, and a brass collector coin for numismatic purposes, along with a brass commemorative circulation coin. → Read more at romania-insider.com
November 26, 2018
Limited edition gold and silver coins commemorating the 70th anniversary of the first issuance of the renminbi (RMB) currency and establishment of China's central bank went on sale in China last Friday. → Read more at gbtimes.com
November 26, 2018
The World Platinum Investment Council is pushing for new platinum products to lure Chinese investors into the metal, providing another source of demand for SA’s second-largest mineral export. Weibin Deng, China’s head at the council, which is financially backed by SA’s platinum producers to stimulate investment, outlined plans for coins, metal-backed exchange-traded funds (ETFs) and other products, targeting the country’s burgeoning middle class. → Read more at businesslive.co.za
November 26, 2018
The Celtic coins discovered in Slovakia were tetradrachms, which were the most precious coins available at the time. In the heart of Slovakia in Mošovce, archaeologists have unearthed 40 … → Read more at inquisitr.com
November 27, 2018
Welcome back for Part II of our Most Valuable Treasure Discoveries series. Below is a continuation of some of the most remarkable treasures unearthed in recent history. The Staffordshire Hoard… → Read more at invest.usgoldbureau.com
November 28, 2018
THE CENTRAL Bank of Ireland has unveiled a special commemorative coin created to mark 100 years since Irish women won the right to vote. → Read more at irishpost.com
Nov 26, 2018 | Britain, coins, commemorative, news
The 2009 Kew Gardens 50p coin is the rarest of post decimalization circulating commemoratives. The Royal Mint plans to reissue the coin as part of a new commemorative set. (Royal Mint image)
Using the designs of some of the most popular coins being traded online, the Royal Mint will be issuing two sets of five commemorative coins to celebrate the 50p coin’s 50th anniversary.
The 50p coin was introduced in 1969 as part of the UK’s transition to decimalization following the introduction of new 5p (to replace the shilling) and 10p (to replace the florin) coins. As the coins began to circulate, some of the lower denominations were withdrawn. On February 15, 1971, British merchants stopped issuing coins that were based on the 240 pence-based Pound and issued change using the decimalization currency known as New Pounds.
Although the coins will be issued as part of commemorative sets with 2019 dates, some feel that the Royal Mint is doing this to manipulate the market to reduce the collector value of its coins. Officials of the Royal Mint has denied the accusation.
Could the reissue of coins with previous designs hurt the value of the collectors market? In the United States, collectors demand the use of classic designs and that has had no impact on the collector market. However, the coins were issued as part of precious metals programs that has almost no competition with the collectible coin market. When was the last time someone decided that the Walking Liberty half-dollar was not worth collecting because the American Silver Eagle uses the same design?
If the Royal Mint mint limits the issue of the coins to the sets they announced, then the awareness of the coins could enhance the British collectors market. However, if the Royal Mint changes their mind and issues the coins for circulation, the collector market could be impacted in a manner similar to the general collectibles market of the 1980s where companies overproduced and overhyped their products.
And now the news…
November 19, 2018
Tap-and-go payments and the decline of coins are hurting the Royal Australian Mint despite its plan to make up lost revenue with a rise in profits from selling collectors' items and manufacturing currencies for countries overseas. → Read more at smh.com.au
November 22, 2018
The 50p was first introduced into circulation in October 1969 and since then dozens of designs have entered the market – many of which could soon make a comeback → Read more at mirror.co.uk
November 23, 2018
The Spainhowers’ house burned down in Camp Fire but they found some luck when they uncovered a coin from their honeymoon within the rubble. → Read more at yahoo.com
November 25, 2018
The South African Mint, a subsidiary of the South African Reserve Bank has announced its first ever Natura coin in fine silver. → Read more at businesstech.co.za
November 25, 2018
Many precious findings are still hidden under the ground. → Read more at spectator.sme.sk
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