Current Currency with George S. Cuhaj - Monday, August 27, 2007

Fives before Hundreds
Posted by george

The U.S. Treasury thru the press department has sent out an email informing us that the press / public unveiling of the design and some security features of the new $5.00 bill will be broadcast to the press at a news event scheduled for 20 September. So, the information is nearly here. The bills are still scheduled to be introduced into circulation in Spring, 2008. Here is the full BEP release:

New U.S. $5 Bill Will Get a Digital Debut on September 20
New Design to Be Unveiled Online During "Wi-5" Event

Washington, D.C. (August 21, 2007) - For the first time, a redesigned denomination of U.S. currency will be digitally unveiled when a new $5 bill design is revealed on September 20, 2007.

In relying on digital communications channels for the "Wi-5" unveiling event, the government will serve two purposes: first, echo its approach to staying ahead of counterfeiters by using the latest advances in technology to enhance the bill's security; and second, allow for the unveiling of the new $5 bill design to be widely accessible.

"A digital unveiling for the redesigned $5 bill provides a new opportunity to engage people in the public education process," said Dawn Haley, Chief of the Office of External Relations at the Treasury's Bureau of Engraving and Printing, "We hope that the ‘Wi-5' theme will get consumers excited about the new bill and encourage them to use the resources on our Web site to learn about its security features and protect their hard-earned money."

The government offers public education and training materials to inform the public about the latest currency designs. These materials are available to order or download at www.moneyfactory.gov/newmoney. The site has received over 222 million hits since its launch in May 2003 and gets about 280,000 unique visitors each month.

The Web site will be home to the "Wi-5" event on September 20, when government officials from the U.S. Treasury, Federal Reserve Board, Bureau of Engraving and Printing and U.S. Secret Service reveal the new $5 bill design for the first time and discuss continuing efforts to stay ahead of counterfeiting. An online Q&A for reporters and podcasts will round out the new bill's digital debut. During the days following the $5 bill's unveiling, streaming video of man-on-the-street interviews will be posted on the site, which will showcase consumers identifying the new $5 bill's updated security features.

"The United States government will continue to enhance the security of our Nation's currency," said Rose Pianalto, Assistant to the Board of Governors of the Federal Reserve. "From Bangkok to Boston, we want those who rely on our paper money around the globe – whether they are central banks, businesses or consumers – to have the information they need to verify the money they receive is genuine and to ensure a smooth introduction of new designs into commerce."

Counterfeiting of U.S. currency has been kept at low levels through a combination of improvements in security features, aggressive law enforcement and education efforts to inform the public about how to check their paper money.

The $100 bill will be the next denomination to be redesigned after the $5 bill is issued in early 2008. The government has no plans to redesign the $1 and $2 bills.

Now you know what I know. But why the AP has finally just started talking aobut the $100 redesign, brought to you here much earlier, I do not know.

George

Bank Note Technologies

8/27/2007 9:14:53 AM (Eastern Daylight Time, UTC-04:00)

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Taking Stock of Summer
Posted by george

Greetings.

Last night I got a call from the local bowling alley to make sure that I'll be returning into the Tuesday night men's league with the team I sponsor. But, that means that Labor Day is nearly here, and the weather will be getting cooler, and thus summer is nearly over. Interesting by which events make us mark time.

For me, the summer has been busy. My early project was to get the 26th edition of the Standard Catalog of United States Paper Money off to the printer. This year's book is a full 100 pages larger than the 25th edition, and includes color sections of US Errors, US notes of the Philippines, and Civil War Postage Envelopes. All returning after a one year absence. The book has just returned from the printer, so more about it in a future blog. The 25th edition also won a Numismatic Literary Guild Extraordinary Merit award, presented at the Milwaukee ANA.

Attendance at the ANA Summer Seminar to teach a world coin class with Emmett McDonald, and to participate in the engraving class as a Gilroy Roberts Fellow took up two weeks plus road travel days.

Editing text of new issues begame a part of the job enlargement program upon the retirement of Fred Borgmann. This is now on top of editing the 5th Edition of Unusual World Coins and the 4th edition of the Standard Catalog of World Coins, 18th Century volume.

Being on the Committee for the Milwaukee ANA, and participating in the Company's presence was quite exciting, 7 days brought about 10,000 visitors into the convention center. Two years of committee planing brought nearly a seamless execution of show events. I did a numismatic theater talk, as well as participated as an exhibit judge.

And then there is Paper Money. We - myself and three co-workers - have been edititing text into data fields for all three volumes of the Standard Catalog of World Paper Money product. With their help we are identifying over 75,000 photographs which need to be electronically scaned for the continued production of the book product, and then re-purposed for the web interface.

The first part of that web interface for paper money will be the US listings, with the international stuff to follow.

So, yes, I'll be looking forward to Tuesday Night Bowling.

George

8/22/2007 9:19:43 AM (Eastern Daylight Time, UTC-04:00)

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Standard Catalog of World Coins goes DVD, a guest blogger
Posted by george

DVD Puts 5 1/2 Inches of Catalog in 1/2 Inch Case

George is duplicating Tom Michael's blog from last Friday. Great news.

At theANA this year Krause Publications released a special three volume set of the 19th, 20th and 21st Century volumes of the Standard Catalog of World Coins as a three disc DVD set. This caused a good deal of excitement, as one might have expected.

There have been plenty of people asking for the Standard Catalog on Disc over the years, but it was some recent developments regarding database development which finally led us to be able to provide this long awaited product.

The set features the most recent editions of the three catalogs, each of which was produced within the past eight months or less. The book covers can be seen on the right front of the DVD case shown here. Each disc presents one volume in it's original page format, so it's just like scanning the pages of the catalog, but without the girth of a heavy book in your lap or on your desk.

Total page count is about 3,760 and total images are roughly 82,750. You can enlarge the images pretty well also, as these are direct from our files, without any second generation degrading. Navigation works through Adobe Acrobat, which is the software which reads the discs. You can do country name or key word searches to find the sections you seek.

The cover prices on the three catalogs totals to $150, but the cost of this three disc DVD set is only $100. At the KP booth at the ANA show last week this new disc set was a featured item, being sold for the special show discount price of $80. At that price I saw many smiling faces, so when I got back here to Iola, I started thinking that maybe I could get fellow Blogger and editorial director Debbie Bradley to extend this discount to my readers for a while. I do so like smiling faces! Anyway, just this afternoon she agreed to allow me to offer that same show special price of $80 to all my Blog readers from now until October 1st.

So if you would like a set of Standard Catalogs on DVD, just email me at tom.michael@fwpubs.com and ask for my special ANA show - Blog extension discount of $80 for the three disc set. You'll have to pay shipping, which is $3.95, so the total will be $83.95, but still, what a deal! Consider it my little way of saying "Thank's" for stopping by to read my postings.

George and Tom

KP News | World Coin Stuff

8/20/2007 11:05:30 AM (Eastern Daylight Time, UTC-04:00)

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ANA 116th Anniversary Convention a summertime hit !
Posted by george

I am just returned form the 116th Anniversary Convention in Milwaukee. It was a hit from many viewpoints.

For U.S. Collectors, the Mint brought the 10 special gold Sacagawea Dollar Coins which were struck and sent into space on a shuttle.

The Bureau of Engraving and printing brought their exhibit of high denomination bills, a uncut sheet of the 100,000 dollar notes are a treat, but also included bonds of 100,000,000 and 500,000,000 dollars!

About 15 world mints has representation, The Royal Mint brought their new Boy Scout Centennial coins, and the Royal Canadian Mint in attendance with their 220 pound, 1 million dollar gold coin. It has to be extracted from the traveling case by an automobile engine hoist!

Krause Publications was well represented too, with introduction of numismaster.com the Standard Catalog of World Coins on the net, and a three DVD set of the three Standard Catalogs spanning, 1801-present.

My fellow KP staff member David Harper was recognized with the Burnett Anderson award presented for lifetime achevement in writing, and I was recognized by the Numismatic Literary Guild for the efforts on the 25th edition of the Standard Catalog of U.S. Paper Money, KPs first full color U.S. paper money book.

George

8/14/2007 9:51:51 AM (Eastern Daylight Time, UTC-04:00)

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Modern World Gold Coins, 1801-present released!
Posted by george

Yes, a new title from the numismatic book division at Krause Publications.

Modern World Gold Coins, 1801-present, includes the most actively traded area in the World Gold Coin market, "modern" coins! The earier to find issues of sovereigns, francs, marks and roubles are included, as are the mid-20th century Franklin Mint commemoratives, and late 20th century bullion issues.

Gold, platinumn and palladium are all included. Soft cover, $65.00, 772 pages, with prices updated based on gold market value of $650-670 per ounce! So nearly every price has been reviewed or updated since the 5th edition of the Standard Catalog of World Gold Coins.

The product features sharper illustrations and expanded descriptions. The softcover book makes it a lighter-weight and easy-use item for travel.

George

KP News | World Coin Stuff

8/6/2007 9:29:57 AM (Eastern Daylight Time, UTC-04:00)

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ANA Convention Week Activities Meet Me in Milwaukee !
Posted by george

August 7-12 collectors, dealers, exhibitors and mint representatives from all over the country, and indeed world will be gathering at the Midwest Airlines Center in Milwaukee for the 116^th Anniversary convention of the American Numismatic Association, the World’s Fair of Money.

Convention chairman Clifford Mishler has assembled a hard working committee that has been meeting for nearly two years to make this convention a successful and memorable event.

Krause Publications will have many staff members in attendance. On the Newspaper Editorial side will be David Harper, David Kranz and Bob van Ryzin. They are the editors of Numismatic News, Bank Note Reporter and Coins Magazine.

From the Book Editorial side of the division will be Tom Michael, market analyst for the Standard Catalog of World Coins, William Brandimore our U.S. Paper Money market analyst, Harry Miller, U.S. Coin Market editor and myself who is responsible for the editorial content of the Standard Catalog of World Coins, Standard Catalog of World Paper Money, and Standard Catalog of U.S. Paper Money.

My activities during the convention will be anchoring the “Join a local coin club” promotion area, where the individual clubs of Wisconsin have been asked to participate with representatives and information. Krause Publications has offered to pay the first year memberships for those who join a local club.

I will be participating in the Numismatic Theater with a program Wednesday morning at 11 AM, with a slide program on New Technologies in world bank note production. The Boy Scout Coin Collecting Merit Badge program will be on Saturday at 11:30 AM. Jeff Swindling and Tom Dodson, who also help me at the National Scout Jamboree events, will assist me in that.

On the “for the good of the hobby” participation, I serve as an exhibit judge, and will be placing an non-competitive educational exhibit of modern art medals, as a promotional tie-in to the FIDEM conference that will be held in Colorado Springs in late September.

So, if you are attending stop by and say hello !

George

8/2/2007 3:42:52 PM (Eastern Daylight Time, UTC-04:00)

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Coins and Currency of the Mid-East
Posted by george

For those hovering on the KP numismatic book radar, a title may have excaped you two years ago. It is Coins and Currency of the Mid-East.

Co-authored by myself and Tom Michael, it holds several firsts for the KP numismatic stabe. It is the first 6x9 format coin and currency combination product done in full color. It was a first exposure to have a targeted audience outside the traditional hobby - returning servicemen. It was a first to cross fields and incude other stuff - like challenge coins, pogs, posters, propaganda leafelets. It was the first to take advantage of full-color military photographs of troops in the field. Mostly from the current lingering multi-national war in Iraq, Iraqi Freedom.

It covers the US actions in the Mid-East over the past 25 years and is an identification guide for what servicemen were returning with stuff. 153_724_large[1].jpg

The official KP catalog listing includes: In addition to collectible commerce from more than 20 countries, this book contains other memorabilia and collectibles that represent a rarely seen side of Middle East conflicts. More than 400 color photos and illustrations help to identify coins and currency, showcase military medals, propaganda leaflets, mementos and depict the lives of soldiers serving in the Middle East. Whether soldier, collector, dealer, historian or a family member looking for details about new heirlooms, this is the absolute authority on Middle Eastern currency and military memorabilia. Desert Storm was a bit more forgiving with return of war trophies than the current action.

Contains listings for various forms of Middle Eastern currency, creating a reliable and extensive collecting reference.

400+ color illustrations help identify coins and currency, and better understand the geographic region, various conflicts, and diverse keepsakes. Plus, reference sections featuring conflict timelines, numeric systems, and online resource for further research.

What were we thinking?...well, that the troops would have been home two years ago, and that this war would be behind us. But, no. So it has become an unpopular book (still available from our bookstore) for an unpopular continuing event.

George

KP News

7/30/2007 9:31:34 AM (Eastern Daylight Time, UTC-04:00)

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European Central Bank Report on Counterfeits
Posted by george

This time of year, the European Central Bank issues their semi-annual report on counterfeit Euros found.

The stats are all on my associate David Kranz's Digital Watermark blog.

The numbers are interesting. It shows that the 50 Euro note is more counterfeited than the 100 Euro note.

What is more interesting is the amount of information presented on the ECB's site. They are very forthcoming about news - both good and bad. They may not tell us how to identify the counterfeits, but the news that they are out there is a lot more informaiton than we in the United States get from the Federal Reserve Bank site. Not even hard numbers from the Fed.

So we in the states need to be vigilant.

George

7/23/2007 11:46:20 AM (Eastern Daylight Time, UTC-04:00)

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Boy Scout Coin Collecting Merit Badge Program at Milwaukee ANA
Posted by george

There will be a Boy Scout Coin Collecting Merit Badge clinic on August 11th, at noon, during the Milwaukee ANA Convention, held at the Midwest Center.

No registration fee, just have the coins you need for the badge. It should last about 90 minutes.

Check out this link at the ANA site with the badge requirements, some helpful information and some more details.

George Cuhaj

Yes, I wrote the current Merit Badge Book!

7/20/2007 10:45:36 AM (Eastern Daylight Time, UTC-04:00)

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The mint-that-shall-not-be-named is back !
Posted by george

In the 776 weeks that I have been a part of the numismatic book staff at Krause Publications, it can be said that I have handled a call in each of those weeks from a member of the public who had bought, or is settling an estate that contains sterling silver ingots or rounds made by the Franklin Mint in the 1960s or 70s. Those folks want to know two things - How much the stuff is worth? and Where to sell it?

A bit of history – The Franklin Mint was formed in the mid-1960s by Joel Segel who brought in Gilroy Roberts (former U.S. Mint Chief Engraver). They presented to the market highly proof quality production for both coinage and sterling silver medal sets. Counties such as Jamaica, British Virgin Islands, Bahamas, Belize all received very nicely designed circulating coinage, and then some very nice proof sets too. But then opportunity came in the way of promotion, and a 20 Balboa (4 ounce, 61mm) Panama coin came about, and 100 dollar gold coins (and in the early 1970s when gold options were generally only Krugerrands these became a good alternative, but by the early 1980s, with gold high these coin types really had low mintages.). The Franklin Mint got out of coins in 1984, sold the presses to the recently formed Pobjoy Mint; however, continued to make chess sets, die-cast models and dolls among other items. However, as output dwindled, the facility was evenually down to 20 employees and was about to close their doors. A 2006 reorganization took place and it is now under new ownership.

So, in the spirit of a new blockbuster movie:

The mint-who-shall-not-be-named…well okay, if they can name Voldermort openly in the fifth Harry Potter Movie, I can say the Franklin Mint, is back!

So, what are those sterling sliver ingot sets worth? Generally the sterling melt spot price less 10%. Sterling has less of a demand in ingot form, and is harder to sell, thus the lower price.

There are a few exceptions – there always are – The 12-piece Boy Scout and Girl Scout sets sell for around $150 each. But the far majority of the others – 50-state flags, steam trains, sailing ships, birds, American History – all generally fall into the nice art, but no resale potential category. The Proof bronze piece have no real metal value, thus can often sell for $3. retail.

Sorry, that is why the IRS offers those who itemize the long-term capital loss line on April 15^th.

George Čuhaj

7/18/2007 12:35:49 PM (Eastern Daylight Time, UTC-04:00)

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The passing of a friend to the arts, Ed Mirvish
Posted by george

This morning I received the news that Edwin (Ed) Mirvish, Toronto businessman and supporter of the arts has died, some two weeks shy of his 93rd birthday.

For those who have visited Toronto anytime in the past fifty years, his store - Honest Ed's at Bloor and Bathurst Streets - boasted a huge light display outside and bargins inside.

For over twenty-five years I have had the pleasure of knowing his wife, Anne, as a sculptor. She would often attend the events of the American Medallic Sculpture Association in NYC, and on one trip to Toronto when I was an educational forum speaker at the Canadian Numismatic Assocaitions' Convention, she attended the talk, and then proceeded to invited me out for an evening which included dinner at one of the resturants in Mirvish Village, the evening performance at the Royal Alexandera Theater of Les Miserables and a back stage visit with the cast.

Several years later, I got to meet Ed and Anne again, when their son David (Mirvish Productions) brought the Buddy Holly Story musical to Broadway. An invite to the opening night party was a special memory of their generosity. On another occasion I got to see the Mikado, a production they were also involved in.

There are a bunch of continuing legacys I am sure, The CBC has a nice write-up as well as the NY Times, however the one mentioned in the Toronto Globe and Mail notice is The Ed Mirvish Educational Memorial Fund; c/o The Benjamin Foundation, 3429 Bathurst St. Toronto, ON M6A 2C3. It is a fund to support up and coming entrepreneurs.

George

7/13/2007 9:27:45 AM (Eastern Daylight Time, UTC-04:00)

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35th Iola Car Show starts today!
Posted by george

Today is the start of the public participation for the Iola Car Show. It is not your ordinary four day car show - 4000 vendor swap meet spots, 3500 collector cars on display, and about 135,000 visitors.

The effort is a year-round activitiy for several folks, and about 70 service organizations - Lions, Rotary, VFW, American Legion Posts, Scout troops and many others from town and neighboring communities. The funds generated from admissions, food consessions and hours of refuse removal fund these community events for most of the year, and in turn the organizations can flow back funds into the various community in way of school scholarships, support of Lions' and Scout camps and other quality-of-life issues.

I have a car in the show too! My 1982 Checker Marathon A-12. A civilian model of the historic big-city cab.

My mom, who visits during this time of year, gets into the action too, organizing my garage sale.

George

7/12/2007 9:07:16 AM (Eastern Daylight Time, UTC-04:00)

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