Dear readers, it’s hard to believe, but this week marks 10 years since I first joined Coin Update and World Mint News Blog. My first submission in June 2010 was an interview I conducted with U
Category Archives: Digital Money
The Bank of England takes pride in launching the “G” series £50 banknote featuring computer scientist Alan Turing
The planned issue of the Bank of England’s next generation £50 polymer banknote was announced by Governor Mark Carney during a special event which revealed that computer scientist Alan Turing would be the featured personality on the back.
The process to unveil the design and personality to be featured on the UK’s next £50 banknote all began when the Bank of England asked the country in November 2018 who should be portrayed on the back
The Bank of England takes pride in launching the “G” series £50 banknote featuring computer scientist Alan Turing
The planned issue of the Bank of England’s next generation £50 polymer banknote was announced by Governor Mark Carney during a special event which revealed that computer scientist Alan Turing would be the featured personality on the back.
The process to unveil the design and personality to be featured on the UK’s next £50 banknote all began when the Bank of England asked the country in November 2018 who should be portrayed on the back
International event examines future for circulating coins
A new conference will examine the future role of coins as they continue to play an essential and intrinsic part of cash-based payments — which cannot function effectively without them.
With overcapacity, rising material costs, hoarding, the removal of low-value coins, and the growth of m-payments and contactless cards, which are chipping away at the use of coins for low-value payments, circulating coins are currently under pressure
Cash makes a comeback
In an article published on June 3, 2019, entitled “Hitting the Brakes on the Cashless Society,” payments risk expert Claire Greene analyzes the pushback against cashless systems taking place in various states and municipalities throughout the country. Greene builds off of the research of Oz Shy, who drew his conclusions from the 2017 Diary of Consumer Payment Choice
FDIC backs down on “high-risk” merchant list
The FDIC has fully reversed its position on a list of merchant categories thought to present a high risk for payment fraud. In a May 29 article, the Wall Street Journal reports that a suit brought by payday lenders against the Federal Deposit Insurance Corporation has been settled and that banks must no longer rely on the FDIC’s “high-risk” list, which included coin dealers
The challenges of implementing a cashless society and what it means for the hobby
A recent article by Oz Shy, senior policy adviser and economist at the Federal Reserve Bank of Atlanta, drew some interesting conclusions based upon a multitude of studies that have been conducted over the years to investigate the behaviors displayed by consumers in a variety of situations. While the concept of a cashless society has been thrust into the ether for some time, new developments in nations that have adopted these systems have once again brought this topic to the forefront of discussion
GoldGram and Dillon Gage sign agreement for strategic global alliance
New York, May 15, 2019 — Singapore-based GoldGram Pte. Ltd
United Kingdom: Penny and two-pence pieces gain reprieve from chancellor
The question arose once again this month about whether the two smallest coin denominations should be discontinued in the United Kingdom. This was today put to rest at least for the foreseeable future by British Finance Minister Philip Hammond
If cryptocurrencies become one of the most common forms of exchange, will banks form around them?
An article by Larry D. Wall, the executive director of the Center for Financial Innovation and Stability at the Atlanta Fed, examines a probable future in which cryptocurrency plays such a critical role in the global financial system that it becomes as influential to markets as standard forms of currency
Paper Money Spring Show, Maastricht, proves to be a huge hit with dealers and collectors alike
For the banknote enthusiasts or notaphilists to be wholly accurate, this last weekend was an important date in the banknote collector’s calendar, which took them to the delightful city of Valkenburg. In the current electronic payments climate where we’re witnessing a race to determine which country will rush to the finish line to be the first cashless economy, the atmosphere at the Paper Money Fair was anything but cashless, as banknotes were the order of the day as collectors and dealers alike noticed a significant upturn in both the demand and availability of a variety of banknotes
Bowers on collecting: Enjoying the Trip
I am continuing to go through old Coin World columns and other items in connection with writing my autobiography. I came across this, published nearly 20 years ago in Coin World in April 2001 (if you don’t subscribe to this newspaper you should; plus, you might enjoy my weekly “The Joy of Collecting” column, which has been running there since 1961! Also, see my 2019 comments at the end:
Enjoying the Trip
Coins are interesting
to collect in any market season
Robert Leonard’s updated Curious Currency, second edition, explores money from the Stone Age to the Internet Age
(Pelham, Alabama) — Whitman Publishing announces the release of the second edition of Robert D. Leonard Jr
Precious metal industry leaders APMEX and Sprott launch OneGold, first online marketplace to securely buy, sell, and redeem digital gold and other precious metals
OneGold marketplace built to meet unique needs of precious metal investors, reflecting APMEX and Sprott’s decades of experience and deep knowledge
OneGold’s digital gold combines key investment benefits of physical gold with those of blockchain-based digital assets
Investors who have bought or considered buying precious metals or cryptocurrencies are encouraged to learn more and create a free account today at OneGold.com
Oklahoma City — (Business Wire) — APMEX, Inc
Perth Mint gold app gives investors the Midas touch
Australia’s foremost precious metals enterprise, the Perth Mint, has today launched an exciting new smartphone app, GoldPass, as part of its commitment to taking Australian gold to the world.
At the touch of a smartphone screen, GoldPass gives retail investors the unique ability to securely buy, store, and sell gold via digital certificates
Acquisition of Medallic Art Company archives
The American Numismatic Society has announced the acquisition of the archives of the Medallic Art Company, one of America’s oldest and most important private mints.
The archive, which consists of more than 50,000 individual items such as medals, dies, galvanos, plaques, and paper and digital archives, was sold to the Society for $420,000 in bankruptcy proceedings of the Northwest Territorial Mint (NWTM) in a Seattle court
Acquisition of Medallic Art Company archives
The American Numismatic Society has announced the acquisition of the archives of the Medallic Art Company, one of America’s oldest and most important private mints.
The archive, which consists of more than 50,000 individual items such as medals, dies, galvanos, plaques, and paper and digital archives, was sold to the Society for $420,000 in bankruptcy proceedings of the Northwest Territorial Mint (NWTM) in a Seattle court
Venezuela: Central Bank introduces long anticipated bolívar soberano to an uneasy public
The Banco Central de Venezuela has introduced (20th August) their new bolívar soberano (or sovereign bolívar) to the weary Venezuelan public, amid uneasy social and economic conditions. The currency was launched on what was announced as a national holiday for a people who have been coping with a staggeringly high rate of inflation, resulting in the real loss of value of their currency by the day
Blockchain challenges
The following is an excerpt of an article by Larry D. Wall on the Federal Reserve Bank of Atlanta
Cash is on the decline, but it’s far from finished
In a June 25 article by the Federal Reserve Bank of Atlanta entitled “Down but Not Out,” Payments Risk Expert Claire Greene outlined the various factors that influence the increase in cashless transactions. While an estimated one-third of consumer transactions are completed via the use of cash, the remaining two-thirds of those transactions are largely determined by the preferences of the merchant
Even though they’re primarily paying with cards, millennials still prefer the feel of metal between their fingers
On April 23, 2018, an article by payments risk expert Douglas A. King revealed some shocking insight into the transaction habits of millennials, which Pew Research defines as an individual born between 1981 and 1996 (me)
Bitcoin: Digital bullion, or just digital?
In a recent interview on the “Fast Money Halftime Report,” renowned trader Mark Fisher discussed the similarities between the current hype for the cryptocurrency Bitcoin and the silver rush seen in the late 1970s and 1980s. Fisher attributes Bitcoin’s rapid rise in value to its organic popularity (i
Blockchain Technology Allows Digital Investment in Precious Metals
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
Blockchain Technology Allows Digital Investment in Precious Metals
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
Japanese Koban Inspiring the 21st Century
In the early 1600s, Japanese shogun Tokugawa Ieyasu sought a monetary system that would reduce Japan’s dependence on Chinese coins. The resulting “Tokugawa coinage” was struck in silver, bronze, and gold; the largest denomination (predating Tokugawa’s system by more than a decade) was the large oval Ōban, followed by the gold oval Koban and several smaller denominations in silver, gold, and bronze