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Weekly Numismatic World News for November 12, 2017

November 13, 2017 in Blogs, Coins, Collecting, Crypto Currency, Currency, Digital Currency, Education, Entertainment, History, News, Numismatica, Numismatics, Opinion, USA Coins, World Coins

By: Scott Barman Coin Collectors Blog (CoinsBlog.ws)

As I peruse the Interwebs for numismatic-related stories from non-numismatic sources, my searches are inundated with stories about Bitcoin, crypto-currencies, and blockchains. Most of the time, the stories are just noise given my objective to find information relevant to collectors including the issuance of circulating currencies and the impact of precious metals on the market. […] Full article at the source>

Source: Coin Collectors Blog (CoinsBlog.ws)

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ICTA’s Anti-Counterfeiting Task Force gets underway with steering committee and work groups

April 19, 2017 in Coins, Collecting, Counterfeit, Currency, Education, Fake Coins, History, Investing, Money, News, Numismatic Crimes, Numismatica, Numismatics, Press Releases, USA Coins

By: Press Release News.CoinUpdate.com (Coin Update News)

The Industry Council for Tangible Assets has named an 11-member steering committee and has formed eight work groups to begin the work of its Anti-Counterfeiting Task Force.

ICTA created the Anti-Counterfeiting Task Force in January and named Beth Deisher as its director. ACTF’s mission is to mobilize law-enforcement resources to protect the integrity of U.S. and world coinage by educating officials on the economic impact and growing threat of counterfeit circulating, collectible, and bullion coins.

“We are extremely pleased to have leaders step forward and volunteer their time and expertise as we begin working with various levels of law enforcement to… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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The Tyvek banknotes of Haiti

April 19, 2017 in Bank Notes, Collecting, Collector Sets, Currency, Education, History, Money, News, Numismatica, Numismatics, Opinion, Paper Money

By: Dennis Hengeveld News.CoinUpdate.com (Coin Update News)

More and more countries all over the world are in the process of switching or have already switched their circulating currency to issues printed on plastic (polymer) materials. Polymer banknotes are much more durable than traditional paper banknotes, have better security features, and are cheaper in the long run. Examples of countries that have switched part or all of their currency to polymer banknotes are Australia, Brunei, Canada, the United Kingdom, and Vietnam, among others. These relatively modern banknotes have become a very popular field with collectors from around the world. For such collectors, the earliest issues to collect… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Venezuela: High-Value Inflationary Denominations Replace Previous Series of Banknotes

December 20, 2016 in Blogs, Currency, Education, History, Investing, News, Numismatica, Numismatics, Opinion, World Coins

By: Michael Alexander News.CoinUpdate.com (Coin Update News)

venezuela-2016-note-series-main

The Banco Central de Venezuela have begun to recall the current 2008 series of banknotes and replace them with six new, higher-value denominations in an effort to stabilize the economy and enable the public to conduct everyday purchases.

As inflation has essentially rendered worthless the denominations of the Fuerte (“strong”) Bolivar—originally introduced in 2008, also as a means of controlling Venezuela’s then-runaway inflation—the series, which featured vertical obverse designs and included denominations from 2 to 100 Fuerte Bolivares, was introduced at a ratio of 1,000 old Bolivares to one new Fuerte Bolivar. At the time of its introduction, the exchange rate… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Blockchain Technology Allows Digital Investment in Precious Metals

December 1, 2016 in Crypto Currency, Currency, Digital Currency, Education, Gold, History, News, Numismatica, Numismatics, Opinion, Precious Metals, Royal British Mint, Virtual currency

By: Kendall Bailey News.CoinUpdate.com (Coin Update News)

blockchain-main-img

This morning there was a post on LinkedIn that caught my eye. It was a piece from the Telegraph that talked about how the Royal Mint is going to begin offering gold trading using blockchain technology.

If you’re asking yourself what “blockchain” means, I’m sure you’re not alone. I knew the term was somehow related to cryptocurrency, but that was all. I spent a couple of hours reading and bouncing ideas off my three-year-old, always a good sounding board, and decided to write a little bit about it.

Blockchain Technology

This is the technology that Bitcoin is based on. Don’t let words like… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Why Governments and Banks Want to Eliminate Cash, Explained By Noted Economist Dr. Scott Sumner

September 29, 2016 in Coins, Currency, Education, History, Investing, News, Numismatica, Numismatics, Opinion, Press Releases, World Coins

September 29, 2016

News media contact:
Michael Contursi, President of RCW Financial, at 949-679-1222

Why Governments and Banks Want to Eliminate
Cash, Explained By Noted Economist Dr. Scott Sumner

Summary:

In a commentary prepared for RCW Financial, economist Dr. Scott Sumner explains why governments and banks are eager to discourage the use of cash, and the resulting potential loss of anonymity and future negative interest rates.

      (Irvine, California) — Governments and banks are discouraging the use of cash, but a problem with a cashless society is a loss of privacy, explains Dr. Scott Sumner, Professor Emeritus of Economics at Bentley University.  He points out that Sweden already is moving toward eliminating all coins and paper money, and Italy and Canada are beginning to discourage the use of cash.

Dr. Sumner predicts the elimination of cash would make it easier for governments to impose negative interest rates and could lead to increases in values for gold and alternative currency, such as the Bitcoin.

      In a commentary prepared on behalf of RCW Financial of Irvine, California (www.rcwfinancial.com) and entitled, “Why Governments & Banks Want To Eliminate Your Cash,” Dr. Sumner wrote about the irony of the push for a cashless society at a time when there are billions of U.S. dollars in circulation.

“Surprisingly, despite the increasing use of credit cards, cash holdings are about 8% of Gross Domestic Product, which is actually a larger share of the US economy than a decade ago, indeed even larger than 90 years ago.  The amount of cash in circulation (paper currency and coins) is roughly $4500 for every man, women and child in America. It is believed that roughly half that total is held overseas, but even $2000 per person would be a surprisingly large figure, far higher than people admit to in government surveys.  Ironically, it is this increasing popularity of cash holdings that helps explain why governments are so anxious to discourage the use of cash,” wrote Dr. Sumner.

      He pointed out that until a few years ago, most economists thought negative interest rates were virtually impossible, but that now is reality in some European countries and Japan.

      Another implication of a cashless society is the loss of privacy.

“The anonymity of cash is what makes it appealing to many people, but it’s also what makes it increasingly unpopular with governments.  They see cash as a way of evading taxes, as well as facilitating drug dealing and other nefarious activities such as terrorism…. But regardless of how you feel about privacy, this seems to be the direction the world is moving,” Dr. Sumner stated.

He concluded: “The removal of cash would not have a major impact on the overall economy.  It would slightly increase the government’s ability to collect taxes, and it would somewhat increase the effectiveness of monetary policy during recessions.  Banks would benefit from increased use of credit cards.  For investors, it might lead to an increased demand for cash substitutes, such as Bitcoin and precious metals, pushing their price higher.”

The entire 1,700 word commentary is available free online at www.rcwfinancial.com/cashless-society.  

About Scott Sumner, Ph.D.:

Economist Scott Sumner, Ph.D

Economist Scott Sumner, Ph.D

Dr. Scott Sumner studied economics at the University of Wisconsin and received a PhD from the University of Chicago. He has done extensive research on the role of the gold standard in the Great Depression and is Professor Emeritus of Economics at Bentley University in Waltham, Massachusetts, where he has taught since 1982. Dr. Sumner received national recognition in 2012 as one of the “Top 100 Global Thinkers” by ForeignPolicy.com and was named “The Blogger Who Saved the Economy” by The Atlantic magazine.

About RCW Financial:

      RCW Financial of Irvine, California provides estate planning and wealth preservation services focused on the acquisition of the most popular and exclusive numismatic rarities.  For additional information, visit online at www.rcwfinancial.com, call Michael Contursi, President of RCW Financial, at 949-679-1222, or email at info@rcw1.com.

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Review: 2016 Long Beach Heritage Auctions World Currency Sale

September 14, 2016 in Auctions, Bank Notes, Collecting, Currency, Events, News, Numismatica, Numismatics

By: Dennis Hengeveld News.CoinUpdate.com (Coin Update News)

lf-1small

It is almost a tradition now for Heritage Auctions to have a world currency auction in conjunction with the September show in Long Beach, California. This year, there were a total of 1,890 lots offered for sale, including a floor auction held on September 8 and an on-line only session ending on September 12. The notes offered range in origin from Afghanistan to Zimbabwe, and many present and former countries in between. In this review, we will take a look at some of the highlights in the sale; all of the lots offered in this auction can be viewed… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Should “In God We Trust” Be Banned From Money?

July 25, 2016 in ANA (American Numismatic Association), Coins, Collecting, Currency, Education, Events, History, News, Numismatica, Numismatics, Opinion, Press Releases, U.S. Notes, US Government, US Mint, USA Coins

For immediate release
July 25, 2016

News media contact:
Paul Stein, (409) 860-9077

Defending “In God We Trust” Motto Focus Of

Free Anaheim Educational Presentation, August 11

“Some critics of ‘In God We Trust’ may be ignorant of the phrase’s long history or are deliberately ignoring the rulings of courts and resolutions of Congress,” points out award-winning writer Michael Fuljenz.
(Anaheim, California) – An educator and acclaimed writer will give a free, informative presentation on defending the national motto, “In God We Trust,” in Anaheim, California onThursday, August 11, 2016.  The public is invited.
The program will be presented by Michael Fuljenz of Beaumont, Texas as part of the American Numismatic Association’s World’s Fair of Money®, a family-friendly, educational event,August 9 – 13.  In a 1954 resolution the association supported the placing of “In God We Trust” on all U.S. currency.
The 45-minute, illustrated presentation by Fuljenz entitled, “Should ‘In God We Trust’ Be Banned From Money?,” will start at 1 pm on August 11 in room Avila A on the 4th floor of the Hilton Anaheim Hotel, 777 W Convention Way.  Audience members will learn how the motto was developed and why its historical timeline is important to its continued use today.

 “Some critics of ‘In God We Trust’ may be ignorant of the phrase’s long history or are deliberately ignoring the rulings of courts and resolutions of Congress,” explained Fuljenz, the President of Universal Coin & Bullion (www.UniversalCoin.com) in Beaumont who has written award-winning articles about the national motto (www.INGODWETRUSTonmoney.com).

 

Commenting on the recent controversy about the motto’s placement on police vehicles in some communities, Fuljenz explained: “The patriotic motto has withstood a long line of legal challenges to appear on our money and on government-owned property.  Courts have ruled that the motto can remain for ceremonial and patriotic reasons, for tradition and for passive use.”

“It first appeared on circulating United States coins in 1864.  It has been on all our coins since 1938, became the only official national motto in 1956 with the signing of legislation by President Dwight Eisenhower, and has appeared on all our paper money since 1966,” said Fuljenz.

A lawsuit was filed earlier this year in Ohio seeking to remove the phrase from U.S. coins and paper money.
In 2013, a Federal Court judge in New York dismissed a lawsuit seeking removal of In God We Trust from our currency.  The judge noted that “the U.S. Supreme Court has repeatedly assumed the motto’s secular purpose and effect.”  In 2011, the U.S. House of Representatives overwhelmingly approved a resolution reaffirming it as the national motto and encouraging its display in all public schools and government buildings.

Fuljenz pointed out that while the motto first appeared on U.S. coins at the time of the Civil War it actually was inspired by events a half century earlier during the War of 1812.
“In 1861, Treasury Secretary Salmon Chase received a letter from a Pennsylvania minister who requested ‘the recognition of the Almighty God in some form on our coins.’   Chase instructed Mint Director James Pollock to prepare a motto.  Pollock recalled a then-popular lyric in the now-seldom sung fourth stanza of The Star Spangled Banner: ‘And this be our motto – In God is our trust.’  Pollock had the words, ‘GOD OUR TRUST,’ placed on a few experimental patterns being tested in the early 1860s for proposed new designs for half-dollar and $10 denomination coins,” said Fuljenz.
“After consultations and debate within the Treasury Department, the words, IN GOD WE TRUST, first appeared in circulation on a new coin denomination, copper two-cent pieces, starting in 1864,” Fuljenz added.
Admission to the August 11 lecture is free.  Admission to the World’s Fair of Money in the Anaheim Convention Center, August 9 – 12, will be $8 for adults, free for children, and free to everyone on Saturday, August 13.  A $2 discount coupon is available online at www.WorldsFairOfMoney.com.

About Michael Fuljenz

Michael Fuljenz, President of Universal Coin & Bullion

Michael Fuljenz, President of Universal Coin & Bullion

A former high school chemistry and physics teacher and principal of the Governor’s gifted students program in Louisiana, Mike Fuljenz has served on the Diocese of Beaumont Catholic School Board since 2007 and was President from 2010 to 2012.  He was honored with the Catholic Charities of Southeast Texas Humanitarian Award in 2013.

Known as America’s Gold Expert®, Michael Fuljenz has won dozens of prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  He recently received an Honorary Doctorate in Humane Letters from McNeese State University.  A respected community leader in his hometown of Beaumont, Texas, Mike also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Boards of Directors of the Jefferson County Texas Crime Stoppers organization, the Numismatic Literary Guild and the Industry Council For Tangible Assets.

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WAMPUM – The Original Currency

July 22, 2016 in Blogs, Collecting, Currency, Education, History, Numismatica, Numismatics, Opinion

By: Libertycoin Liberty Coin and Currency Blog

Wampum

When Europeans began traveling in masses to the New World during the 17thcentury, many arrived with little more than the clothes on their backs. Having spent virtually every last bit of available worth for the trip across the pond, the new settlers began searching for the means to trade, barter and purchase necessities for survival.

The pre-existing inhabitants of the land would prove to be well-versed in obtaining many of the primary provisions needed for everyday life. Thus began a trading relationship that would evolve into currency exchange, but not in the manner of which we may think by today’s standards.

Wampum… Full article at the source>

Source: Liberty Coin and Currency Blog

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Bob McCabe’s Book on Counterfeiting To Be Released This Holiday Season

July 13, 2016 in Books, Collecting, Counterfeit, Currency, Education, Entertainment, History, Money, News, Numismatic Crimes, Numismatica, Numismatics, Opinion

By: Caitlyn Trautwein News.CoinUpdate.com (Coin Update News)

Counterfeiting-and-Technology-coverSMALL

This winter, the long-anticipated story of paper-money counterfeiting by historian Bob McCabe will make its debut. Counterfeiting and Technology: A History of the Long Struggle Between Paper-Money Counterfeiters and Security Printing is an adventurous monument to the history of paper money and, most importantly, to the technology that created it.

At the ANA’s World’s Fair of Money in Rosemont, Illinois, last year, I had the privilege of attending a Society of Paper Money Collector’s meeting, during which a presentation on Confederate paper money was delivered. Afterward the floor was opened to a Q&A session, during which one particular question caught my… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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U.S. Mint Sales Report: 2016 Coin & Currency Set Debuts, No Change for Gold Mercury Dimes

June 22, 2016 in Coins, Coins for sale, Collecting, Collector Sets, Commemorative, Currency, Dollar Coins, Education, Gold, Gold Bullion, Gold Coins, History, News, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, Silver Eagles, US Mint, USA Coins

By: Dan Holmes News.CoinUpdate.com (Coin Update News)

16xb_aTINY

The U.S. Mint has shared its new sales report, giving us our first weekly total for the 2016 American $1 Coin and Currency Set. The set was released on June 16 and sold 21,149 units on its first day; orders submitted over the following three days totaled 3,348, bringing the overall total to 24,497 as of Sunday evening. The new Coin and Currency Set was easily the Mint’s highest-selling product of the week.

Also notable is the fact that the sales figure for the 2016 Mercury Dime Centennial Gold Coin did not see a negative correction for… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Another Threat to the Future of “Paper Money”?

June 18, 2016 in Bank Notes, Collecting, Currency, Design, Education, History, New Releases, News, Numismatica, Numismatics, Opinion

By: Caitlyn Trautwein News.CoinUpdate.com (Coin Update News)

The U.K.'s Churchill £5 polymer bank note. Photo by Michael Alexander.

The U.K.’s Churchill £5 polymer bank note. Photo by Michael Alexander.

 

Paper money today is changing—and it’s changing fast. Close to home, recent developments have included the announcement of redesigns for the U.S. Federal Reserve Notes of the $5, $10, and $20 denominations to include women on our money for the first time in more than 100 years. Further abroad, some countries are attempting to do away with cash entirely, such as Sweden and parts of Europe that are accepting 100% digitalization and mobile banking.

Now the Bank of England is adding to the paper-free advancements by announcing Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Harriet Tubman Will Be Added to Front of $20 Bill

April 20, 2016 in Bank Notes, Bureau of Engraving and Printing, Collecting, Currency, Education, History, News, Numismatica, Numismatics, U.S. Notes, US Federal Reserve

By: Dan Holmes  News.CoinUpdate.com (Coin Update News)

American abolitionist leader Harriet Tubman (1820 - 1913) who escaped slavery by marrying a free man and led many other slaves to safety using the abolitionist network known as the underground railway. (Photo by MPI/Getty Images)

Harriet Tubman (1820 – 1913)

 

United States Treasury Secretary Jack Lew will announce today that after much debate and consideration abolitionist Harriet Tubman has been chosen to replace President Andrew Jackson on the front of the $20 bill. The change will not go into effect until 2030, but the new design will be shared with the public in 2020 as part of the run up to the 100th anniversary of the ratification of the 19th amendment, which gave women the right to vote.

Jackson won’t be banished from the 20 entirely, however. Secretary Lew has indicated that the seventh U.S…. Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Counterfeiting is Alive and Well

April 11, 2016 in Bureau of Engraving and Printing, Collecting, Currency, Education, History, Money, News, Numismatic Crimes, Numismatica, Numismatics, Opinion, U.S. Notes, US Federal Reserve, US Government

By: Caitlyn Trautwein News.CoinUpdate.com (Coin Update News)

100usd_newSMALL

Obverse of current $100 bill, first issued in 2013.

 

Although the average American may not think about it on a daily basis, it would come as no surprise to most that counterfeiting U.S. currency is an industry that is alive and well today. There is a reason the $10 bill is up for a redesign; it’s a security measure to try and keep ahead of counterfeiters, and anyone who has used a larger bill in retail will have seen the special black “markers” that cashiers use to check currency. If it comes out yellow or brown, you’re… Full article at the source>

Source: News.CoinUpdate.com (Coin Update News)

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Currency Readers Available for the Blind and Visually Impaired at No Cost to Them

February 8, 2016 in Bureau of Engraving and Printing, Currency, News, Press Releases, PSA, US Government

Press Release
Currency Readers Available for the Blind and Visually Impaired at No Cost to Them

 

In Observance of Low Vision Awareness Month, the Bureau of Engraving and Printing Encourages Eligible Individuals to Apply

Contact: Lydia Washington (202) 874-3487

Washington, DC – February 8, 2016 – The Bureau of Engraving and Printing (BEP), in partnership with the Library of Congress’ National Library Services for the Blind and Physically Handicapped (NLS), launched the U.S. Currency Reader Program in 2015 as a means for blind or visually impaired individuals to denominate U.S. currency. Now in its second year, the program provides U.S. citizens or legal residents with vision impairments a free currency reader device at no cost to them.

“To date, more than 35,000 currency readers have been distributed to eligible individuals and we have received a very positive response from the visually impaired community about their functionality. February is Low Vision Awareness Month and what better time to create additional awareness about the program and encourage others to apply for one,” said BEP Director Len Olijar.

The currency reader, called iBill®, is a small hand-held device that denominates all U.S. currency in circulation in one of three modes: a clear natural voice, a pattern of tones, or a pattern of vibrations for privacy. The vibration mode also assists people who are deaf and blind in identifying a note’s denomination. The device uses a single AAA battery, which is included.

Currency reader applications are processed and readers are shipped by the NLS, which also administers a free library program of braille and audio materials for U.S. residents and citizens living abroad.

To request a currency reader, individuals should complete the application located on BEP’s website at http://www.bep.gov/uscurrencyreaderform.html or call (844) 815-9388, toll free to request that an application be mailed.

BEP also offers two mobile device applications that allow users to scan a note and have the note’s value communicated back to the user. EyeNote®, an Apple iOS mobile application for denominating currency can be downloaded free from the Apple App Store and the IDEAL® Currency Identifier app for Android devices can be downloaded free from Google Play.

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Mike Fuljenz Admonishes Critics Of “In God We Trust” Motto

September 21, 2015 in Coins, Collecting, Currency, Education, History, Money, Numismatica, Numismatics, Opinion, Paper Money, Politics, US Government, US Mint, USA Coins

September 21, 2015

News media contact:
Paul Stein, (409) 860-9077  PaulS@thecoingroup.com

Mike Fuljenz Admonishes
Critics Of “In God We Trust” Motto

 

Statement by Michael Fuljenz, President of Universal Coin & Bullion (www.UniversalCoin.com) in Beaumont, Texas.

Michael Fuljenz, President of Universal Coin & Bullion

Michael Fuljenz, President of Universal Coin & Bullion

Some critics of In God We Trust may be ignorant of the phrase’s legal history or are deliberately ignoring the rulings of courts and resolutions of Congress.  Regarding the recent controversy about the motto’s placement on police vehicles in some communities, it’s important to remember the patriotic motto has withstood a long line of legal challenges to appear on our money and on government-owned property.

It first appeared on circulating United States coins in 1864 (www.InGodWeTrustOnMoney.com).  It has been on all our coins since 1938, became the only official national motto in 1956 with the signing of legislation by President Dwight Eisenhower, and has appeared on all our paper money since 1966.

Recent court cases include a 2013 ruling when a Federal Court judge in New York dismissed a lawsuit seeking removal of In God We Trust from coins and paper money.  The judge noted that “the U.S. Supreme Court has repeatedly assumed the motto’s secular purpose and effect.”

In 2011, the U.S. House of Representatives overwhelmingly approved a resolution reaffirming it as the national motto and encouraging its display in all public schools and government buildings.

While the motto first appeared on U.S. coins at the time of the Civil War, it actually was inspired by events a half century earlier during the War of 1812.

In 1861, Treasury Secretary Salmon Chase received a letter from a Pennsylvania minister who requested “the recognition of the Almighty God in some form on our coins.”   Chase instructed Mint Director James Pollock to prepare a motto.  Pollock recalled a lyric in the now-seldom sung fourth stanza of The Star Spangled Banner: “And this be our motto – In God is our trust.”  Pollock had the words, ‘GOD OUR TRUST,’ placed on a few experimental patterns being tested in 1861 for proposed new designs for half-dollar and $10 denomination coins.

After consultations and debate within the Treasury Department, the words, IN GOD WE TRUST, first appeared in circulation on a new coin denomination, copper two-cent pieces, starting in 1864.

————————

An award-winning detailed history of the national motto, written by Fuljenz, is available free online at www.INGODWETRUSTonmoney.com.

Known as America’s Gold Expert®, Michael Fuljenz has won dozens of prestigious national and regional awards and honors for his consumer education and protection work in rare coins and precious metals.  A respected community leader in his hometown of Beaumont, Texas, Mike also has served with distinction as a consultant to the Federal Trade Commission, United States Mint and Royal Canadian Mint, and is on the Board of Directors of the Jefferson County Texas Crime Stoppers organization, the Industry Council For Tangible Assets and the Numismatic Literary Guild.

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Should “In God We Trust” Still Be Used On U.S. Currency?

August 29, 2015 in Blogs, Coins, Collecting, Currency, Education, History, Money, Numismatica, Numismatics, US Government, USA Coins

By: Libertycoin Liberty Coin and Currency Blog

In God We Trust-2

“In God We Trust.” Regardless of your religious beliefs, this motto is in your home and quite possibly in your pocket right now. These four words have appeared on U.S. money since 1864, when the motto was first engraved on the two-cent coin. But how and why was the phrase added?

Origins of the Motto

Interestingly, the motto “In God We Trust” originated not as part of the 1864 Coinage Act, but in response to an impassioned letter that Treasury Secretary Salmon Chase received from a Pennsylvania reverend named M.R. Watkinson in 1861. The reverend’s letter argued, among other things, that… Full article at the source>

Source: Liberty Coin and Currency Blog

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Russian Coin Celebrates 50th Anniversary of the First Man to Walk in Space

April 23, 2015 in Blogs, Coins, Coins for sale, Collecting, Commemorative, Currency, History, News, Numismatica, Numismatics, Precious Metals, Russian Coins, Silver, Silver Coins, World Coins

By: Michael Zielinski World.mintnewsblog.com (News and Commentary on World Coins)

russia1

The Central Bank of the Russian Federation has just released a silver proof commemorative coin which marks the 50th anniversary of the first man to walk in space.

On March 18, 1965, Cosmonaut Alexey Leonov exited the capsule during the Voskhod 2 mission for a 12-minute spacewalk. He became the first human to conduct extra-vehiclar activity, meaning any activity done by an astronaut or cosmonaut outside a spacecraft beyond the Earth’s appreciable atmosphere. Alexei Leonov is still alive at the age of 80.

The obverse design of the coin features the emblem of the Bank of Russia, Full article at the source>

Source: world.mintnewsblog.com (News and Commentary on World Coins)

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Only A New Gold Standard Will Save The U.S. Dollar – Steve Forbes

July 11, 2014 in Currency, Gold, Investing, Money, News, Opinion, US Federal Reserve, US Government

By: KitcoNews.com Via Forbes.com. (http://www.forbes.com/sites/kitconews/)

(Kitco News) – A weak U.S. dollar is a threat to the global economy and the only way to stop the greenback’s decline is to reintroduce a gold standard, said media tycoon, Steve Forbes.

Forbes, the editor and chief of Forbes Media, was one of the keynote speakers at the annual Freedomfest conference in Las Vegas, an annual convention that looks to gather free minds for open discussions on politics and the economy.

In an interview with Kitco News’ Daniela Cambone, Forbes talked about gold’s role it the U.S. economy, which is also highlighted in his latest book MONEY: How The Destruction Of The Dollar Threatens The Global Economy And What We Can Do About It.  He said to stop the decline in the U.S. dollar it only makes sense to link it to gold.

Full article at the source>

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The Gold and Silver Mine, June 13

June 14, 2014 in Coins, Currency, Education, Gold, Gold Coins, Investing, Numismatica, Numismatics, Precious Metals, Rare Coins, Silver, Silver Coins

A weekly column dedicated to “digging out” current information about precious metals, coins and other numismatics.

By: Douglas Keefe. June 13, 2014 (http://www.shorenewstoday.com/)

Last weeks’ article was about gold and silver as investments and if there is any potential for the prices to rise in the future. This week I will give some insight relative to investing in rare coins and currency. That differs from buying just bullion items as the value of an investment in gold and silver bullion items rises and falls with the metals market, whereas the value of rare coins will change based on demand and supply, independent of the price of the metals. Although the track record of rare coin investments is very good, there are never any guarantees and not every rare coin investment increases in value. Careful selection is important.

Full article at the source>

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Bitcoin Set to Overtake eBay’s PayPal in Transaction Volumes

May 26, 2014 in Bitcoin, Currency, Digital Currency, E-commerce, Ebay, Investing, News, Virtual currency

By: Jerin Mathew. May 24th, 2014 (http://www.ibtimes.co.uk/) (international Business Times)

Bitcoin

Bitcoin

Popular digital currency bitcoin is expected to overtake e-commerce giant eBay’s payment processor PayPal in terms of US dollar transactions in the near future.

California-based hedge fund Laureate Trust says that bitcoin is fast establishing itself as the currency to use globally and instantly to make purchases or payments over the internet recording nearly $300m (£178m, €220m) daily in transactions.

“Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized,” Peter Tasca, CEO of Laureate Trust, said in a statement.

“The digital currency works, Bitcoin has greater volume transactions than Western Union and we anticipate it will overtake PayPal later this year.”

PayPal processes payments totalling $315.3m every day, according to Statistic Brain.

“In the next one or two years, Bitcoin can surpass the dollar transaction volumes of other established payment companies including Discover, and even American Express, MasterCard, and Visa,” said SmartMetric CEO Chaya Hendrick.

Bitcoin was launched in 2008 and is traded within a global network of computers. They can be transferred without going through banks or clearing houses, reducing fees involved in the services significantly.

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The dollar’s decline from the gold standard

April 21, 2014 in Currency, Education, Gold, Gold Coins, Investing, Money, Numismatica, Numismatics, Precious Metals, Silver, Silver Coins, US Federal Reserve, US Mint

April 20, 2014. By: David John Marotta and Megan Russell. (http://www.dailyprogress.com)

The U.S. dollar was first regulated by the Coinage Act of 1792 and prescribed as 371.25 grains of pure silver. The eagle, worth $10, was 247.5 grains of gold. One cent, worth a hundredth of a dollar, was 24 grains of copper.

The value of the metal contained in the currency kept prices relatively constant before the founding of the Federal Reserve. During those 120 years, prices rose only 3 percent. In contrast, during the 100 years since the Federal Reserve, prices have risen 2,280 percent.

The Constitution gives Congress the power to “to coin money” and “regulate the value thereof.” This dictum was understood to be setting the currency’s weight and metallic content and was necessary to allow the currency to keep up with a growing economy.

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IRS rules Bitcoin will be taxed as property, not as currency

March 25, 2014 in Bitcoin, Currency, Investing, News, Taxes, Virtual currency

By Adrianne Jeffries on March 25, 2014 (http://www.theverge.com)

The IRS previously admitted it wasn’t sure how to tax Bitcoin, but today it’s reached a decision. Bitcoin and other virtual currencies are considered property, not currency, according to a notice posted today. That means Bitcoin owners may have to pay taxes on the income they gain as Bitcoin increases in value, and may be able to deduct a loss if Bitcoin loses value, just as if Bitcoin were a stock.

“In some environments, virtual currency operates like ‘real’ currency,” the IRS writes, “but it does not have legal tender status in any jurisdiction.” Therefore, “virtual currency is treated as property for U.S. federal tax purposes” and “general tax principles that apply to property transactions apply to transactions using virtual currency.”

The ruling takes effect immediately and failure to comply will result in fines. However, the agency says it will allow leniency for failure to file in the past if there is “reasonable cause.” (Presumably the absence of a rule would qualify.)

The ruling takes effect immediately and failure to comply will result in fines

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Numismatic Change? / Reinaldo Escobar

March 20, 2014 in Bank Notes, Coins, Collecting, Currency, News, Numismatica, Numismatics, Paper Money, World Coins

By: Reinaldo Escobar. March 19, 2014 in Desde Aquí / English (http://desdeaquifromhere.wordpress.com/)

The much discussed Cuban dual monetary system, which has distorted the economy for more than twenty years, seems to be facing its final days. Among the few reports that have been released, it appears it will be the CUP–the Cuban or national peso–that will survive, and the CUC–or Cuban Convertible Peso that will cease to circulate.

In addition to the actual value of each of these currencies, they differ in that the differ in that if the CUP has a photo of a historical figure, the CUC has a sculpture of the same personage. Also on security issues, CUC far exceeds its alter ego.

The question we ask ourselves is whether there will be a change in the real value of money we earn as wages. How many hours will one have to work once the money is unified to buy a pound of spaghetti, a quart of oil or a beer?

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Greenspan Says Bitcoin a Bubble Without Intrinsic Currency Value

December 10, 2013 in Bitcoin, Currency, Digital Currency, Investing, Money, US Federal Reserve, Virtual currency

By Jeff Kearns  Dec 4, 2013 (http://www.bloomberg.com) (Saving and Investing)

Former Federal Reserve Chairman Alan Greenspan said Bitcoin prices are unsustainably high after surging 89-fold in a year and that the virtual money isn’t currency.

“It’s a bubble,” Greenspan, 87, said today in a Bloomberg Television interview from Washington. “It has to have intrinsic value. You have to really stretch your imagination to infer what the intrinsic value of Bitcoin is. I haven’t been able to do it. Maybe somebody else can.”

Bitcoins, which exist as software and aren’t regulated by any country or banking authority, surged to a record $1,124.76 on Nov. 30. The currency has rallied on growing interest from investors, while merchants are starting to accept Bitcoins and U.S. officials have told lawmakers such payments could be a legitimate means of exchange.

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