Sunday, June 27, 2010

Renminbi vs. Yuan: Why China's currency has two names

China has indicated that it will allow its currency to appreciate - following months of pressure from the US. Some refer to the currency as the yuan, others call it the renminbi. Who is right?

In colloquial speech the yuan has other names too Both names are perfectly good, but in slightly different ways.

"Renminbi" is the official name of the . . .

Full story at: BBC News

Thursday, June 24, 2010

Coin Collecting Sensations Started Early

Virtually every era has had them as market sensations grab the headlines. Many times they create enormous interest as there is nothing quite like the idea of a coin promptly soaring in price.

If you have any doubts, ask anyone who paid $240 back in 1997 for a BU Jackie Robinson $5 gold coin. Imagine the thrill of waking up in 2002 and seeing that the Jackie Robinson $5 was around $900, but it got better as in 2003 the $5 Jackie Robinson was $1,350. Today it is $3,900. That, by any definition is a sensational coin whether it goes up further or down from today’s level and the $5 Jackie Robinson like other sensations of the past will have an impact throughout the rare coin market. That makes them and their impact worth study.

We cannot really document the first U.S. coin to become a sensation. We know for example that a hoard of large cents called the Butternut Hoard purchased by . . .

Full story at: Numismaster.com

Gold: Not Your Daddy’s Inflation Hedge

Here’s the REAL Reason Why Gold is Set to Double…

(Jeff D. Opdyke, The Sovereign Society) Let me be clear from the outset, though: I’m a huge fan of gold. I own physical bars and I think the metal’s brightest days are clearly ahead.

My issue is that investors need to be buying for the right reason.

If you’re betting on inflation, you may be sorely disappointed. The lack of reported inflation will persist for a while, especially given the hedonic government massaging of the Consumer Price Index.
In response to tepid inflation readings, you might dump your gold holdings—only to see the metal’s price move much higher. You’ll watch, confused …

Full story at: The Sovereign Society

Wednesday, June 23, 2010

An Interview With Author David Lange on Lincoln Cents, Buffalo Nickels and Coin Boards

By Maribeth Keane and Brad Quinn (Copyright Collectors Weekly 2010)

In this interview, David Lange—coin collector, author, and director of research for Numismatic Guaranty Corporation (NGC)—talks about the history of the Buffalo nickel, including its use as a canvas for creating caricatures in the folk art form known as hobo nickels. He also discusses Lincoln head cents and coin-collecting boards . . .

Read the David Lange interview at: CollectorsWeekly.com

Also, read my own interview with Collector's Weekly at: A.C. Dwyer interview

Which U.S. Mint Coin and Proof Sets Make the Best Investments?

(Susan Headley: coins.about.com) The U.S. Mint offers a bewildering variety of coin sets each year, ranging from the old stand-by's such as Proof sets and Uncirculated (year) sets, to the special commemorative sets and coins that have limited mintages. Learn which ones typically skyrocket in value right away, and which ones are usually the duds. . . .

Answer at: coins.about.com

Smart Collecting 101: Avoiding the Churn

(Doug Winter: Douglas Winter Numismatics) When talking to collectors, I often find myself giving them advice as to what makes a “good collector.” I thought it would be interesting to share some of my thoughts and observations in a series of blogs entitled “Smart Collecting 101.” These will run, from time to time, over the next few months.

One of the mistakes that many collectors make is allowing themselves to be “churned;” either by their dealer/adviser or by themselves. Churning is an expression that means too much buying and selling from an account (or in this case a collection) by a salesperson in order to generate profits for the company and commissions for the broker.

Many of the big marketing firms in the coin business (and some of the better known boutique retail firms) are notorious churners. They will . . .

Full story at: RareGoldCoins.com

Tuesday, June 22, 2010

World's largest gold coin could fetch $4 million at auction

The $1 million dollar face value Canadian Maple Leaf gold coin is to be auctioned off in Austria at the end of this month.

The record-breaking world's largest coin had been on loan to a museum in Vienna when its owner, an Austrian investment firm went bankrupt.

Michael Beckers, an auction expert, told the BBC how new methods had to be used to mint the coin . . .

Watch video at: BBC News

Want to invest in gold? You have a variety of choices

Interested in buying gold? You have plenty of choices.

If you want to own gold but don't want to take physical possession, your best option is an exchange traded mutual fund that buys gold bullion. You can buy and sell shares on the stock exchange throughout the trading day.

Many people who buy gold, however, want to take possession of the metal. Your best bet is to . . .

Full story at: USA Today

Lost valuable coins find their way home

Losing his valued coin collection could have been the final straw for Alexander Piascik.

He’d already lost his beloved wife, Joanne, two years ago to cancer. Only a few months later, their dog died. In fact, Piascick said he felt like hell was breaking loose. How much more could one person take?

But his tenacity was put to the test one more time when a fanny pack containing hundreds of rare and valuable coins fell out of the back of his truck on Monday, June 7 as he headed for the dog park.

“I had just been to my safe deposit box, and thought that I’d . . .

Full story at: Wilsonville Spokesman

Thursday, June 03, 2010

United States Mint Launches Franklin Pierce Presidential Dollar Coin

CONCORD, N.H. - The United States Mint today introduced the newest Presidential $1 Coin in a ceremony in Concord, New Hampshire. The coin honors Franklin Pierce, the Nation's 14th President.

"Starting today, millions of coins bearing former President Franklin Pierce's image will enter into circulation," said Andy Brunhart, United States Mint Deputy Director. "As these coins move from hand to hand, they will be a reminder of his contribution to our great Nation."

The event, co-hosted by Franklin Pierce College and the Pierce Brigade, took place at Pierce Manse, the former President's historic home. The event featured . . .

Full story at: USMint.gov

Yellowstone quarter launched

YELLOWSTONE NATIONAL PARK. — The United States Mint and National Park Service launched the second coin in the United States Mint America the Beautiful Quarters Program today near the iconic Old Faithful geyser in Yellowstone National Park.

"When Americans pull this coin out of their pockets, some will remember fond memories of their family vacation in Yellowstone, others will be inspired to visit Yellowstone to create new memories," said United States Mint Director Ed Moy.

"Many Americans will make the connection to their rich . . .

Full story at: Wyoming Business Report

Tuesday, June 01, 2010

U.S. Soldiers Returning from Afghanistan with Counterfeit Rare Coins


Afghan merchants sell counterfeit money on bases

Jim Everett worries that soldiers in Iraq and Afghanistan might be buying their way to their own deaths.

Everett, owner of Tiah’s Coins and Currency on Fort Campbell Boulevard, has accumulated more than 550 seemingly rare coins brought in by soldiers returning from the two countries who’ve been led to believe they’ll make money selling the coins back in the U.S.

“They’re not realizing they’re committing a felony,” Everett said. The coins are counterfeit — worth nothing more than the 22 grams of steel they’re made from.

Of particular concern for Everett is the small stack of 1804 silver dollars he’s collected. Only about 15 legitimate coins exist, with some valued at more than $4 million. “The 1804 dollar is one of the most . . .

Full story at: TheLeafChronical.com