You are browsing the archive for 2013 April.

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Guillermo Barba: Silver coin demand rises sharply in Mexico

April 30, 2013 in Coins, Mexico Coins, Precious Metals, Silver, Silver Coins, World Coins

From http://www.gata.org

Submitted by cpowell on Mon, 2013-04-29 04:02. Section: 

12:03a ET Monday, April 29, 2013

Dear Friend of GATA and Gold:

Mexican financial journalist Guillermo Barba reports tonight that demand for his country’s silver Libertad coins has exploded, according to information provided to him by the Bank of Mexico.

For April through the 23rd of the month, Barba writes, the central bank had sold 174,055 Libertad coins, more than were sold in the first three months of this year altogether — 169,928 coins total in those three months, 46,693 in January, 80,929 in February, and 42,306 in March.

Last year, Barba adds, demand for the silver Libertad was down by 60 percent.

Barba’s report is posted in Spanish at his Internet site, Global Financial Intelligence, here:

http://inteligenciafinancieraglobal.blogspot.mx/2013/04/explota-demanda-…

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

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US Mint Sales Report: 2013 Native American Dollars Debut, Gold Coins Surge

April 30, 2013 in Coins, Collecting, Gold, Gold Coins, Gold Eagles, News, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

April 30, 2013 By Michael Zielinski (http://news.coinupdate.com)

2013 Native American $1 Coin

2013 Native American $1 Coin

The latest weekly sales report for United States Mint numismatic products includes the debut figures for the 2013 Native American Dollars. Most gold numismatic products experienced a surge in sales following a price decrease.

The US Mint began accepting orders for bags, rolls, and boxes of circulating quality 2013 Native American Dollars on April 22, 2013. This year’s reverse design features a turkey, howling wolf, and turtle to represent the Delaware Treaty of 1778, which was the first written treaty between the new United States  and a Native American tribe. Through the reporting date of April 29, 2013, the US Mint sold products accounting for 1,240,200 of the coins. This is significantly slower than the opening sales figures for recently released Presidential Dollars, which seem to have a much wider collector base.

During the period covered by the report, the US Mint reduced the prices for gold numismatic products in accordance with the recent drop in precious metals prices. Collectors responded by heavily ordering the recently released 2013 Proof American Gold Eagles and the 2012 First Spouse Gold Coins.

Full article at source>

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Stivers re-introduces the Cents and Sensibility Act

April 30, 2013 in Coins, Copper Coins, Money, Pennies, Politics, US Mint, USA Coins

Monday, April 29, 2013. (http://www.vintondaily.com)

WASHINGTON, D.C. – Rep. Steve Stivers (R – OH) this week introduced the Cents and Sensibility Act to lower the cost of producing pennies, nickels, dimes and quarters and to ensure they are minted with steel instead of minerals imported from outside the U.S. Rep. Tim Ryan (D – OH) and Rep. Pat Tiberi (R – OH) signed on as original co-sponsors of the bipartisan legislation.

“This legislation is a common-sense solution to decrease the cost of minting our coins,” Stivers said. “Not only will it cost less, but steel is an American resource that we have here at home and can be manufactured right here in our backyard.”

Since 2006, due to the rising cost of materials and labor, the manufacturing of some denominations has become unprofitable. Of the coins currently in circulation today, the cost of producing pennies and nickels is greater than the face value of the coins themselves.

Full article at source>

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Bitcoin dealers grappling with big banks and murky financial rules

April 29, 2013 in Bitcoin, Currency, Digital Currency, Investing, Money

Joel Eastwood, The Canadian Press.  Sunday, April 28, 2013 (http://www.ctvnews.ca)

OTTAWA — Canadians buying and selling an emerging digital currency are running afoul of established banks and operating in uncharted territory for financial regulators.

“The Canadian government doesn’t know what a Bitcoin is, doesn’t recognize the Bitcoin, and there’s no regulatory agency that knows what a Bitcoin is,” said Joseph David, the owner of VirtEx.

His Calgary-based website lets Canadians trade Bitcoins through an online market similar to a stock exchange. David said the two-year-old company facilitated $15 million in transactions this year.

Full article at source>

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Scramble for silver coins driven by bargain hunting, not fear

April 29, 2013 in Coins, Gold, Gold Bullion, Gold Coins, Investing, Precious Metals, Silver, Silver Coins

Michael Allan McCrae | April 26, 2013 (http://www.mining.com)

This time around record gold and silver coin sales is investment driven, says James Anderson from GoldSilver.com.

“People see silver in the 20s and they think that is a great buy,” says Anderson who is managing director of the bullion dealer.

“Saavy investors who’ve already been in this market for a bit are coming in, dollar-cost averaging and buying in at what they feel is a really good value.”

Mints around the world are coping with a crush of new orders after prices dropped on precious metals.

The Perth Mint told Kitco News that business has doubled.

“We haven’t seen this type of demand since the 2008 financial crisis,” said the Perth Mint’s sales and marketing director Ron Currie.

Full article at source>

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Gold: 3 Reasons It’s Like Bitcoin

April 28, 2013 in Bitcoin, Gold, Gold Bullion, Investing, Precious Metals

Putting real value on the precious metal is a hard case

Apr 28, 2013, 9:00 am EDT  |  By Traders Reserve (investorplace.com)

The power of fear is amazing to me.

For the most part, otherwise sane individuals will do all sorts of crazy things once things become a little bit dicey.

Want proof? Look no further than the gold market. How else can you explain the massive move in an otherwise worthless metal over the last decade?

If you are honest, ask yourself what real utility is there for gold?

Don’t recite what the so-called analysts or experts will tell you about gold being the only real currency in the world (it is not). Those folks will tell you that gold is the only thing that will protect you and your family when things go horribly wrong (fear mongering).

Really, what do you think the world is going to be like if things do really go horribly wrong? I highly doubt that gold bar will get you much if chaos truly takes hold.

Full Article at source>

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Walton Specimen 1913 Liberty Head Nickel Realizes $3.17 Million

April 26, 2013 in Antique Coins, Auctions, Coins, Collecting, News, Nickel Coins, Numismatica, Numismatics, Rare Coins, USA Coins

April 26, 2013 By Dennis Hengeveld (news.coinupdate.com)

One of the highlights in American numismatics was auctioned at the spring 2013 Central States Numismatic Society convention held in Chicago, IL. An example of the famed 1913 Liberty Head Nickel was sold by Heritage Auctions from Dallas, TX. The storied Walton Specimen, deemed to be the third finest of the five coins known to exist, realized $3,172,500 including the buyer’s premium.

There is a reason that the write-up in the auction catalog is one of the longest ever seen in any numismatic catalog,. First of all, it is not very often that a 100 year old coin that is so famed that even most casual collectors will be familiar with its rarity and back story. It also does not happen often (or at all) that the particular coin in question was deemed lost for over 40 years following an automobile accident in which the coin’s owner was tragically killed. And it almost never happens that one of the factors that brought the coin back into the numismatic theater was a substantial reward offered by Bowers and Merena.

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Fake U.S Silver Eagle coins soaring through Hamilton, police say

April 26, 2013 in Coins, Collecting, Counterfeit, Fake Coins, News, Silver, Silver Coins, Silver Eagles, USA Coins

Hamilton Police say they’ve gathered over 500 fake U.S Silver Eagle coins sold across the city over the past few months.

By: Cbc News April 25th, 2013

Hamilton coin collectors and pawn shops are getting duped.

Police are warning that fake U.S silver eagle dollar coins have been circulating in the city and have been sold to various establishments over the past few months.

“You wouldn’t be able to tell the difference (with) the naked eye. The coins are actually very high quality fakes,” Const. Mike La Combe said in a Hamilton Police YouTube video. “They are silver and nickel-plated, which gives them the look of an actual silver dollar. However, when you cut them open, you can clearly see on the inside, they are brass filled.”

The video shows some of the roughly 500 fakes that have been confiscated so far.

“They are worth practically nothing, just a couple cents each,” La Combe explained.

LaCombe is a pawn unit investigator and says the coins are being bought online, then sold at “golden” times for the seller when shops are busy or with little staff. During the rush, employees may not have the time to do all the proper authenticity checks, giving criminals the chance to sell fast without getting caught.

“Only buy them from reputable dealers, a place that is established, an expert who works there who knows the difference between real and fake. Don’t buy them off the internet. and don’t buy them from people from the public who aren’t considered experts because more than likely you’re going to get a fake,” added Le Combe.

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Numismatists to unite in Santa Maria

April 26, 2013 in Coins, Collecting, Education, Numismatic Societies and Clubs, Numismatica, Numismatics, Rare Coins, USA Coins, Young Collectors

By Jennifer Best. April 26th, 2013 (http://www.theadobepress.com)

Numismatics may be embedded in the human genome, if the Giorgi-Nash family lineage is any indication.

Linda Nash of Santa Maria first discovered the joy and beauty of coin collecting at the knee of her father, Albert Giorgi of Nojoqui. Her own son, 24-year-old Michael Nash, has become a collector in his own right.

Then again, the coin-collecting habit may be a contagion. Linda’s husband, Jerry Nash, has also gotten involved in the family hobby.

“I’ve always liked the history of the coins and the detailed artwork. That fascination with coins, particularly those from the 1800s and early 1900s, always stays with me,” said Linda, president of Santa Maria Coin Club.

Decades of collecting has provided the Nash family a healthy smattering of coins with a particular eye toward early American pieces. Some of them, and other local collections, will be on display Saturday, April 27, when coin collectors, appraisers and sellers from throughout California descend upon Santa Maria for the Santa Maria Coin Club Coin & Collectible Show. The event runs from 9 a.m. to 3 p.m. at Elwin Mussel Senior Center, 510 E. Park Ave. Admission is free.

“If you have a collection that Grandma left you, bring it in and have it appraised for free. This is your best bet to find out what they’re worth,” said Jeanne Taylor, a club member and private collector.

The show will also include sports trading cards, casino chips, Beanie Babies and other collectibles.

The semi-annual event is sponsored by Santa Maria Coin Club which was established in 1957 and remains the only coin club on the Central Coast, Nash said.

Full Article at source>

Santa Maria Coin Club Webpage>

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15 Easiest ways to spot all Chinese Fake Silver coins

April 25, 2013 in Coins, Collecting, Counterfeit, Education, Fake Coins, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, USA Coins, World Coins

From Ebay Buying Guides By hendrixantique Ebay

COUNTERFEIT CHINESE SILVER COINS – 15 EASY SUGGESTIONS FOR DETECTING FAKES

1.  Weight the coin.  If the weight does not match US Mint standards, it is fake.  Weights for good silver fakes will be accurate, but only for the rarest fakes (.900 fine U.S. bust dollars, Spanish pieces of eight, etc.).

2.    DO NOT RELY ON A MAGNET TO DETECT A FAKE.  All metals used in these fakes are non-ferrous and are all non-magnetic.  Of course any silver coin that sticks to a magnet is an obvious fake.  White copper is 75% copper, the remainder being nickel and zinc.  Other Chinese fakes are copper and brass plated with silver.

3.  Check the alignment of dates, especially on early coinage and silver dollars.  Often the counterfeiters will try and ‘tweak’ their own die by crafting a number by hand.  For example, 1893 CC Morgan dollar fakes often have a “9” that is slightly misformed, and not struck in the same depth as the 1, 8, and 3.

4.  Check the thickness of the coin.  To keep their coins within proper weight limits and diameter, they are forced to make the coins ‘thicker’ than real coins to compensate for the lower density of copper, nickel and zinc.  NOTE:  This test cannot be used on coins struck in 90% silver.

5.  Check the edge of the coin for any verdigris, or green patina caused by the copper leaching through the nickel and zinc, or silver plating.  Silver turns black with oxidation; copper turns green.  If you see any green on the edges of the coin is it almost always a fake.

6.  Examine the mintmark closely.  In nearly every case of a Carson City Morgan, the “CC” is too small, large, or incorrectly spaced.  This also applies to New Orleans and San Francisco mint marks.

7.  Use known legitimate coins or images as ‘compares.’  Most of us don’t have a spare 1893 CC Morgan laying around the house.  However, you can locate images of nearly every authentic US coin by searching eBay or coin dealer websites.  Find a raw or slabbed coin with a good photo and compare a known authentic coin to one in question.  It is a 99% certainty that there will be flaws in the date, mintmark, or other characteristics.

Full Article at source>

 

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Million dollar nickel rolling to auction

April 25, 2013 in Antique Coins, Auctions, Coins, Collecting, Nickel Coins, Rare Coins, USA Coins

Pricey coin has rich backstory

By Lisa Black, Chicago Tribune reporter. April, 24th, 2013 (www.chicagotribune.com)

A rare 1913 Liberty Head nickel, stored unceremoniously in a closet for 40 years, could fetch more than $2.5 million when it’s auctioned in Schaumburg this week.

But what’s priceless is the story behind the coin — one of only five ever made. Starting with suspicious origins, the coin later survived a fiery car crash and was declared a fake before its eventual authentication.

Its former owner, George Walton, died in the 1962 crash en route to a coin show. Appraisers told his family the coin was fake, but his sister kept it, anyway.

“She put it in a padded envelope and wrote, ‘It’s not real,'” said Walton’s niece, Cheryl Myers of Virginia, one of four heirs working with Heritage Auctions. “She died … never knowing she had the real thing.”

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U.S. Mint Runs Out of Smallest American Eagle Gold Coin

April 24, 2013 in Coins, Gold, Gold Coins, Gold Eagles, Investing, News, US Mint, USA Coins

By Debarati Roy – Apr 24, 2013 (http://www.bloomberg.com)

The U.S. Mint ran out of its smallest American Eagle gold coin after demand surged following the biggest drop in futures in three decades.

Sales of the coins weighing a 10th of an ounce were suspended after demand more than doubled in 2013 from a year earlier, the Mint said yesterday in a statement. Total sales of American Eagles in April have almost tripled from a month earlier, according to its website.

Shoppers from India to China and Japan joined consumers in the U.S. and Australia in the rush to buy jewelry and coins after futures slumped 13 percent in two days through April 15. Indian buyers flocked to stores and banks for ornaments, coins and bars as purchases from the Perth Mint in Australia doubled and retail sales across China tripled.

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US Mint Sales Report: 2013 Proof Gold Eagles Debut

April 24, 2013 in Coins, Collecting, Gold, Gold Coins, Gold Eagles, Investing, News, Numismatica, Numismatics, Precious Metals, Proof Coins, Silver, Silver Coins, USA Coins

April 23, 2013 By Michael Zielinski (http://news.coinupdate.com)

2013 American Eagle One Ounce Gold Proof Coin

2013 American Eagle One Ounce Gold Proof Coin

The latest weekly United States Mint numismatic product sales report includes the opening numbers for the 2013 American Gold Eagle proof coins. Also, several silver numismatic products had sales suspended pending a price adjustment.

Sales of the 2013 Proof Gold Eagles opened on April 18, 2013 with four individual options and a four coin set available. The debut comes as the market price of gold underwent a significant decline, leading to a surge in sales for bullion coins. Sales of the collector coins seem to have also seen some increased demand. Through the reporting date of April 22, across all options sales accounted for 4,480.15 troy ounces of gold. This is a only modest 6% increase compared to the opening sales figures measured in ounces for the previous year, however it does break with the recent trend of declining year over year sales which had been occurring for most numismatic gold products.

From the available product options, the individual one-tenth ounce Proof Gold Eagle was the strongest seller, followed by the individual one ounce coin. Typically, these positions have been the opposite. Next was the four coin set, which includes one example each of the one ounce, half ounce, quarter ounce, and tenth ounce coins.

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Rare Coin Value Increases in Past Decade, National Collector’s Mint Offers Products and Tips

April 23, 2013 in Coins, Collecting, Commemorative, Gold, Gold Coins, Rare Coins, Silver Coins, USA Coins, World Coins

SOURCE: National Collector’s Mint

April 22, 2013 06:00 ET

Rare Coin Value Increases in Past Decade, National Collector’s Mint Offers Products and Tips

According to Recent Statistics, the Value of Rare Coins Has Increased by 26 Percent in the Past Year, Giving Many Collectors Opportunity to Revalue Their Collections; As a Provider of Collectible Coins, National Collector’s Mint Discusses This Trend

PORT CHESTER, NY–(Marketwire – Apr 22, 2013) – Consumers who like to collect rare coins, also known as numismatists, have often enjoyed the wide variety of collectible coins offered by National Collector’s Mint. The company has amassed respect in the community throughout its history, as many appreciate the high quality and precious metals that go into making the commemoratives and coins provided by its catalogue. While the company maintains that its products allow collectors to invest in a piece of history, the organization sells its rare coins in a different way that is appreciated by enthusiastic numismatists.

According to a recent article from Pymnts.com, “Rare coins soared 25 percent in value over the past year and 248 percent the past ten years, according to the Luxury Investments Index in the recently-released Knight Frank 2013 Wealth Report.” With such a significant increase at hand, the article urges collectors to make sure they are dealing with proper dealers if they are looking to make a profit on their coins. Jeffrey Bernberg, president of the Professional Numismatists Guild, tells Pymnts, “Rare coins are an enjoyable hobby and part of some people’s long-term portfolios, but buyers should remember the important adage: If you don’t know rare coins, you better know your rare coin dealer.

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Legend Numismatics Market Report

April 22, 2013 in Auctions, Coin Shows, Coins, Gold, Gold Coins, Investing, News, Numismatica, Numismatics

The Legend Numismatics Market Report is up; Better Karma Next Week 

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How to Spot £1 Counterfeit Coins

April 22, 2013 in British Coins, Coins, Counterfeit, English Coins, Numismatica, Numismatics, World Coins

The Royal Mint (http://www.royalmint.com)

The Royal Mint takes counterfeiting and fraud extremely seriously. To help identify genuine £1 coins we have prepared an easy-to-use guide and poster for you to download.

The Royal Mint regularly conducts surveys to estimate the level of counterfeit £1 coins in the UK. A survey undertaken in November 2012 found that the rate of counterfeit UK £1 coins in circulation at the time had reduced to 2.74% from 3.09% (as concluded previously in a survey undertaken in November 2011).

Provisions for various offences connected with the counterfeiting of coins are included in the Forgery and Counterfeiting Act 1981. Enforcement of these provisions is entirely a matter for law enforcement agencies, such as the police and the Crown Prosecution Service.

Full Article and .PDF Downloads >

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Rare ‘dotted’ 1936 Canadian penny sells for $250,000

April 21, 2013 in Canadian Coins, Coins, Collecting, Numismatica, Numismatics, Pennies, Rare Coins

By Randy Boswell, Postmedia News April 20, 2013.

An ultra-rare Canadian penny has been sold at a U.S. coin auction for more than 25 million times its face value — about $253,000 Cdn.

The 1936 “dot cent” penny is famous in coin-collecting circles as one of only three such specimens known to have been produced that year by the Royal Canadian Mint. They are distinguished from the millions of other 1936 pennies minted in the final year of King George V’s reign by the miniscule dot placed below the date on the “tails” side of the coin.

Texas-based Heritage Auctions announced last month that the “legendary Pittman-Krause” dot penny — named for two notable collectors who had owned it previously — would be offered at this week’s annual international coin sale in Chicago.

And on Thursday, an unidentified Canadian collector purchased the penny for close to pre-sale estimate — about $250,000, including a $25,000 buyer’s fee paid to the auction house, a Heritage spokesman told Postmedia News.

It was the highest-priced item among the thousands of coins sold, the spokesman added.

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Professor Muhammad Yunus Bronze Medal

April 20, 2013 in Bronze, Collecting, Commemorative, Medals, News, Numismatica, Numismatics

Friday, April 19, 2013 Posted by Mint News Blog (http://mintnewsblog.com)
Earlier this week, the Congressional Gold Medal was presented to Professor Muhammad Yunus to recognize his contributions to the fight against global poverty and his effort to promote economic and social change. He is credited with developing the concepts of microcredit and microfinance, through which very small loans were extended to  entrepreneurs too poor to qualify for traditional bank loans. He received the Nobel Peace Price in 2006.
Muhammad Yunus Bronze Medal

Muhammad Yunus Bronze Medal

The obverse of the medal features a portrait of Professor Yunus with the traditional Bengali jamdani fabric design, intended to represent his optimistic and cheerful demeanor. Inscriptions include “Professor Muhammad Yunus” and “Act of Congress 2010″. The obverse was designed by Donna Weaver and sculpted by Phebe Hemphill.

The reverse depicts a lotus in open in full bloom, rising above the water and carry a depiction of the globe in its petals. This is intended to symbolize Yunus’ dream to end world poverty. The inscription reads “Banker to the Poor” and in Bengali “Let us send poverty to the museum”. The reverse was designed by Richard Masters and sculpted by Jim Licaretz.

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Krugerrand demand skyrockets

April 20, 2013 in Coins, Gold, Gold Coins, Investing, South Africa Coins, World Coins

Investment Insights.  (http://www.moneyweb.co.za) Author: Ingé Lamprecht| 19 April 2013

Gold is a safe haven in turbulent times – FNB Share Investing CEO.

South Africa Gold Krugerrand

South Africa Gold Krugerrand

JOHANNESBURG – The demand for Krugerrands has skyrocketed during the past week as investors tried to benefit from the weaker gold price.

The gold price dropped to its lowest level in months earlier this week after it emerged that Cyprus might be selling gold in order to help finance its bailout.

Gusta Binikos, chief executive officer of FNB Share Investing, says the average ounces bought back from customers per month has increased by 30% for this month, compared with the average for the prior 12 months. However, this is only a slight increase compared with the increase of sales to customers of 331% for the same period, says Binikos.

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2013 Proof Gold Eagles

April 20, 2013 in Coins, Collecting, Gold, Gold Coins, Gold Eagles, Proof Coins, USA Coins

April 18th, 2013. By: Mint News Blog (http://mintnewsblog.com)

Today, April 18, 2013 at 12:00 Noon ET, the United States Mint will begin sales of the 2013 American Gold Eagle Proof Coins. The available products will include individual one-tenth, one-quarter, one-half, and one ounce size coins, as well as a four coin set option. For this year, maximum mintage levels have been reduced and initial prices will be lower, following the decline in the market price of gold.

2013 American Eagle One Ounce Gold Proof Coin

2013 American Eagle One Ounce Gold Proof Coin

2013 American Eagle One Ounce Gold Proof Coin

2013 American Eagle One Ounce Gold Proof Coin

The American Gold Eagle features Augustus Saint Gaudens’ depiction of Liberty from the classic double eagle minted from 1907 to 1933. Liberty is depicted holding a lit torch and olive branch with the rays of the rising sun and the US Capitol building behind her. Fifty stars surround the image. The reverse design features Miley Busiek’s depiction of a family of eagles with inscriptions indicating the precious metal weight and legal tender face value.

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“Moneta”, the goddess of fertility which gave name to our money

April 19, 2013 in Ancient Coins, Antique Coins, Archaeology, Coins, Collecting, Education, Gold, Gold Coins, History, Numismatica, Numismatics, Precious Metals, Rare Coins, Silver, Silver Coins, World Coins

ABC.ES / MADRID Day 16/04/2013

Although the coins were invented in the seventh century BC in Asia Minor, not reached the Iberian Peninsula to more than four centuries later

In money has now become the entity that dominates everything. Without exception. Gone was the barter as a means of survival, to manage with the most varied forms of payment: banknotes, checks, cards, computer operations or, of course, the ever present coins. But why they are called ” coins “?, what were the first to use?, when and how they came to the Iberian Peninsula? Or when they became the symbol and essence of our economy?

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25 Bizarre Coins that are legal tender

April 19, 2013 in Coins, Collecting, Commemorative, Currency, Money, Numismatica, Numismatics, Silver, Silver Coins, World Coins

From http://www.advanceloan.net

A selection of the worlds most bizarre coins that are used as legal tender A recent Report showed that the people of America hate the dollar coin. This inspired us to do some research into some of the worlds most bizarre legal coinage to see if we could find some inspirational design alternatives for the dollar coin. Thanks to our cash advance loans friends at AdvanceLoan.net for the their help with this. We’ve compiled a list of 25 most bizarre coins from all around the world!

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U.S. gold coin sales surge after historic sell-off

April 19, 2013 in Coins, Gold, Gold Coins, Investing, Precious Metals, USA Coins

By Frank Tang. April 17th, 2013. (http://www.reuters.com)

(Reuters) – U.S. gold coins have been flying off dealers’ shelves this week as retail investors snapped up bargains since the metal’s historic plunge in price.

The spike in gold coin sales reflects a desire among mom-and-pop investors to have physical metal as a store of value in troubled economic times.

In contrast, retail and institutional investors have fled gold exchange-traded funds and futures contracts in recent months as fears of inflation have waned. Gold is seen as a hedge against inflation.

Sales of the American Eagle gold bullion coins totaled a whopping 77,000 ounces in just two days, exceeding the entire month of March, when dealers sold 62,000 ounces.

“We haven’t had two back-to-back days like this since 2008 after the collapse of Lehman Brothers,” said David Beahm, vice president at New Orleans-based coin dealer Blanchard & Co.

Beahm said that one customer bought an entire 500-ounce gold “monster box” usually delivered by the U.S. Mint to coin dealers which then sell the 1-ounce coins individually to customers.

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Introductory Pricing for 5-Star General Commemorative Coins Ends April 19

April 19, 2013 in Coins, Collecting, Commemorative, Gold, Gold Coins, Silver, Silver Coins, USA Coins

April 18, 2013 By Michael Zielinski (http://news.coinupdate.com)

The introductory pricing period for 5-Star Generals Commemorative Coin Program will conclude at the end of this week. The program includes $5 gold coins, silver dollars, and clad half dollars featuring the five 5-Star Generals of the United States Army, Douglas MacArthur, George C. Marshall, Henry Arnold, Dwight D. Eisenhower, and Omar N. Bradley.

Generals Marshall and Eisenhower are depicted on the silver dollar, Generals Arnold and Bradley are depicted on the clad half dollar, and General MacArthur is presented alone on the $5 gold coin. The reverse designs of each coin represent the U.S. Army Command and General Staff College in Fort Leavenworth, Kansas where all were either alumni or instructors.

Sales originally began on March 21, 2013 under introductory pricing. The introductory period will conclude on April 19, 2013 at 5:00 PM, after which regular pricing will go into effect. The prices for products containing gold coins may vary weekly based on the average market price of gold.

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Treasure hunter Forrest Fenn: ‘I love mysteries’

April 16, 2013 in Antique Coins, Coins, Gold, Gold Coins, Rare Coins, Treasure, Treasure Hunting

 Sun Mar 31, 2013 (Associated press) (http://www.santafenewmexican.com)

For more than a decade, he packed and repacked his treasure chest, sprinkling in gold dust and adding hundreds of rare gold coins and gold nuggets. Pre-Columbian animal figures went in, along with prehistoric “mirrors” of hammered gold, ancient Chinese faces carved from jade and antique jewelry with rubies and emeralds.

Forrest Fenn was creating a bounty, and the art and antiquities dealer says his goal was to make sure it was “valuable enough to entice searchers and desirable enough visibly to strike awe.”

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