Thursday, February 28, 2013

The Least Valuable Coin in the World

You wouldn't think an entire country could turn on a dime, but after 155 years, Canada has finally turned on the penny.

According to National Post, the Canadian government has halted distributing pennies to financial institutions, bringing the tawny, maple-leaf-adorned coin one big step closer to total extinction. The Canadian Press reported . . .

Read more at The Huffington Post

Tuesday, February 26, 2013

Pieces of Eight from West Cornwall Shipwreck Sold

Coins recovered from a West Cornwall shipwreck that still inspire visions of pirates and buried treasure have sold at auction.

The 17th Century Cob and piece of eight were recovered from the wreck of HMS Association, lost at sea in . . .

Read more at Falmouth Packet

Monday, February 25, 2013

Coin Collector May Have Only 1912 Buffalo Nickel

AMERICUS — In 1960, when Chuck Wachob was 17, he worked at a bank in Middletown, Pa., handling bags of money from the U.S. Mint in Philadelphia. His job was specifically to roll coins for the bank to use.

At that time he was an amateur coin collector. He had an eye particularly for buffalo nickels. When he would . . .

Read more at Americus Times-Recorder

Audit at N.Y. Fed Find Gold Purer Than Thought

NEW YORK -- The U.S. government’s gold in New York is safe in a vault underneath Manhattan, and some of the precious metal there is purer than previously thought.

That’s according to a first-ever audit conducted last year by the Treasury Department of U.S. gold on deposit at Federal Reserve banks in New York and . . .

Read more at The Los Angeles Times

Minting Coins Cost U.S. Taxpayers $436 Million: Chart of the Day

Pennies and nickels have cost more than their face value to mint since 2006, resulting in a loss of at least $436 million to U.S. taxpayers.

The chart of the day shows that in 2012, the penny cost almost 2 cents to make and the nickel more than . . .

Read more at Bloomberg

Thursday, February 21, 2013

Discovery Channel to Air Recovery of 48 Tons of Silver from the Gairsoppa Shipwreck

Tampa, FL - February 7, 2013 - Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), pioneers in the field of deep-ocean exploration, will be featured on Discovery Channel’s SILVER RUSH premiering with three back-to-back episodes on February 24 at 8-11 PM ET.

Film crews for the Discovery Channel series were onboard Odyssey’s ships during 2012 operations and captured the record-breaking recovery of 48 tons of silver bullion from the Gairsoppa site.

Read more at shipwreck.net