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 Friday, August 10, 2007
Clemy goes to Hessler
Posted by David
 Congratulations to Flying Cloud Kowalski, known to most of us as Gene Hessler. He received the Clemy Award at the Numismatic Literary Guild's annual NLG Bash Aug. 9. Keeping with tradition, the top annual award given by the NLG was announced by last year's winner, Barbara J. Gregory.  Earlier in the evening, Hessler had been given a rubber chicken, held aloft in the accompanying photo by Scott Travers while a laughing Dorothy Harris looks on. The rubber chicken presentation was likely a move intended to distract and confuse, as the Clemy announcement is normally a surprise to the recipient. The complete list of NLG award winners will appear at the NLG Web site soon.
8/10/2007 1:13:40 AM (Central Daylight Time, UTC-05:00)
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 Thursday, August 02, 2007
Chicago-district 2003A $2 sheets coming
Posted by David
8/2/2007 12:26:30 PM (Central Daylight Time, UTC-05:00)
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 Tuesday, July 31, 2007
Zimbabwe in for more of same
Posted by David
If you hadn't heard, times are tough in Zimbabwe. Inflation is wildly high, currently over 5,000%. the government ordered prices to be cut in half earlier this year. Reports state that around 5,000 people who have failed to obey the imposed price controls have been arrested. There's no real currency, the government providing instead series of bearer checks in different denominations. Circulation of the current set, which was to expire today, has been extended for a year, and a new top denomination issued, a Z$200,000 dated Aug. 1, 2007. Some online news reports have said that this new bearer check has a security strip to help combat counterfeiting, and that the Zimbabwe government has a new currency in the works. No end in sight, though, for these hard times.
7/31/2007 4:41:44 PM (Central Daylight Time, UTC-05:00)
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Money maker talks
Posted by David
Ever wonder what the CEO of an international bank note production and security technology firm does to relax?
You can find out in Christine Selb's Times of London interview of Lee Quinn, group CEO of De La Rue. The article notes Quinn's desire to advance De La Rue businesses outside of bank note production, areas such as passports, identity cards and electronic identification, among others. With no plan to leave bank notes behind, though: "Sales
to emerging markets, which are likely to remain cash-based in the near
future, is expected to compensate for the West’s predilection for plastic.
Growing wealth in countries such as China means increasing demand for ATMs
and the crisp, new bills that they dispense. In Europe, two thirds of all
transactions continue to be made in cash," the article states. The article also recalls the company's quick work creating and distributing new currency for Iraq in 2004: "The company
printed a billion new Iraqi bank notes in 100 days, chartered 24 747s to
take the money to Baghdad, then worked with the country’s central bank to
retire the old currency and circulate the new one within a few months. 'That’s an unprecedented feat,' Mr Quinn says."
7/31/2007 4:09:46 PM (Central Daylight Time, UTC-05:00)
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 Wednesday, July 25, 2007
Was it the paper money vote?
Posted by David
Election results for the American Numismatic Association board of governors race were announced today by the ANA. Other than Barry Stuppler, president-elect, and Patricia Jagger Finner, vice president, the board will consist of new faces. You can read the news at Numismaster.com, then get some commentary from new board members at the blog Buzz with Dave Harper. From a personal perspective, it was a pleasure to see and talk with some of the new ANA board members at recent paper money shows. Chet Krause, Joe Boling and Wendell Wolka were at the Memphis paper money show a few weeks ago. Radford Stearns trekked to the Chicago Paper Money Expo last March, as did Cliff Mishler and others. I applaud them for their attentions to the paper money hobby during the lead-up to the voting. Is it fair to expect we'll see them just as often at paper money events now that the race is over? I hope so! Congratulations to all the winners.
7/25/2007 5:03:15 PM (Central Daylight Time, UTC-05:00)
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 Wednesday, July 18, 2007
50-euro note most counterfeited
Posted by David
The European Central Bank's latest report on euro note counterfeiting shows that "The €50 was the most counterfeited banknote in the first half of 2007, accounting for around a half of the total counterfeits found in circulation." Total number of fake euros found in the first half of 2007 was listed as 265,000, meaning fake €50s seized numbered about 132,500 notes with a face value of €6,625,000. That's $9,138,127.50 in today's U.S. dollars. Actually, 265,000 out of about 11 billion notes in circulation isn't bad. Fakers' fondness for the €50 is not new. It has been the denomination
of choice for counterfeiters nearly continually since the euro's
introduction to circulation in January 2002. The €50 was the most
counterfeited denomination until 2006, when the €20 took the lead. Now
the €50 has reemerged on top, but notably the €100 fakes are coming on strong.
Altogether, these three denominations have typically made up 85-90 percent of all euro fakes seized. The ECB reports on this twice a year. For perspective, here are the totals from previous reports: 2002/1 - 21,965 fakes removed from circulation in this six-month period 2002/2 - 145,153 " 2003/1 - 230,534 " 2003/2 - 311,925 " 2004/1 - 307,223 " 2004/2 - 287,000 " 2005/1 - 293,000 " (the €50 made up 62% of this total) 2005/2 - 286,000 " 2006/1 - 300,000 " (the €20 took the lead this period, 44% vs. the €50's 36%) 2006/2 - 265,000 " (the €20 held its lead, at 36% vs. the €50's 31%) 2007/1 - 265,000 " (the €50 reemerges at 50% vs. the €20's 15%)
7/18/2007 2:52:55 PM (Central Daylight Time, UTC-05:00)
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 Wednesday, July 04, 2007
Newsweek columnist notes rise of digital dollars
Posted by David
The rise of digital currency has hit mainstream media, or at least the radar of Newsweek columnist Robert J. Samuelson: "We have crossed a cultural as well as an economic threshold when
plastic and money are synonyms and the crime of choice is identity
theft, not bank robbery," he writes. Samuelson provides a few facts and figures in his recent column entitled "The Vanishing Greenback."I'm not sure what milestone was reached to prompt his column, and that's part of his point, that in general as a whole we've not paid much attention — though I suspect those at The Liberty Dollar would argue that. I wonder if Samuelson's column will inspire a few more people to collect bank notes?
7/4/2007 5:29:15 PM (Central Daylight Time, UTC-05:00)
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 Tuesday, July 03, 2007
"With secretory mucus, it's 17 days"
Posted by David
That's how long one strain of flu virus remained viable on paper money in a lab, according to Swiss researcher Yves Thomas. Presumably it was Swiss paper money, as the study was commissioned by the Swiss National Bank. Without mucus the longest-lived virus in the study lasted about three days. To its credit, the study does not pretend to address realistic conditions of regular paper money usage.
7/3/2007 4:46:18 PM (Central Daylight Time, UTC-05:00)
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 Thursday, June 28, 2007
CIA's 'family jewels' disappoint
Posted by David
For all the mainstream news coverage of their release, the Central Intelligence Agency's "family jewels" are a numismatic disappointment. The collection of memos and reports — assembled in 1973 to document CIA activities dating back to 1959 that might be "delicate," "inappropriate" or have "flap potential" — contains no mention of currency. No partially censored notes about cooperation with the Secret Service in an operation to mop up any 1964-D Peace dollars that might have escaped the Denver Mint. No orders for CIA staff to create a 1944-dated export license for a 1933 $20 gold piece — wouldn't that be fun! I admit I did not read all 693 pages. The closest they appear to get to collecting, though, is concern that a Silver Spring, Md., police shooting of a gun collector could be construed to have connection to the agency because it had supplied some equipment and training to the police. Police intercepted a phone call in which Mr. Ballou spoke of a plan to "kill a cop." If Mr. Ballou had thrown a coin at officers instead of picking up an antique gun, we'd have a real hobby tie. He also likely would not have been paralyzed. I don't mean to make light of these activities. I'm just looking for hobby aspects. There's a lot of ground to cover in there, about CIA surveillance of Americans (such as politically active college students, John Lennon, and journalists of the time including Brit Hume), about a plot to assassinate Fidel Castro using a member of the mob and, one that seems odd to me, about CIA sharing costs of a White House mailing after public comments about Cambodia resulted in massive public response. And there's plenty more. Maybe someone in the Cuban Numismatic Association can tell us if there are any direct connections between the CIA's activities and people involved with Cuba's currency. If you see any numismatic ties to the CIA "family jewels," do tell.
6/28/2007 11:33:02 AM (Central Daylight Time, UTC-05:00)
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 Wednesday, June 27, 2007
What's source of POW*MIA overstamp?
Posted by David
 This $5 bill with something stamped on its right end caught my eye in circulation. The stamped design shows a person's head in silhouette with a guard tower behind, what might be a strand of razor wire running horizontally near the chin, and the letters POW*MIA above. There may be more lettering intended below the central design that I can't make out. Given the design elements and familiar acronyms for "Prisoner of War" and "Missing in Action," a military theme is clearly intended. I suppose it was stamped onto the note to encourage people to remember those who have been prisoners of war or who have been categorized as missing in action. But this is a Series 1999 $5 bill. Isn't it unusual that this overstamp appears on this note? I'm curious. Can anyone shed light on the source or specific meaning of this overstamp?
6/27/2007 4:54:37 PM (Central Daylight Time, UTC-05:00)
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 Wednesday, June 20, 2007
You watching, BEP?
Posted by David
I see that Wal-Mart is expanding its financial services business. Its new product is a prepaid debit card, adding to its ongoing offerings of payroll check cashing, bill payment, money orders, money transfers and its own store credit cards. Look at all those alternatives to physical U.S. currency! If this were some other company, it might not hit the radar. But this is Wal-Mart, the juggernaut of volume retailing. The U.S. government partnered with the company to distribute the first Sacagawea dollar coins in 2000. The Federal Reserve clearly recognizes how much money flows through the Wal-Mart check-out lines. Why not exchange your payroll check for Wal-Mart credit devices and live the new simple life, not the down-on-the-farm sort that Paris Hilton flirted with on TV, but the one-shop-for-everything sort. Sounds particularly good for the RV travelers who I'm told are showering at Wal-Marts already. (Is that true?) I'm sure the Fed is watching Wal-Mart, I just hope that our friends at the Bureau of Engraving and Printing can survive the results of any future drop in currency printing needs. Maybe I should get in early and start a collection of Wal-Mart debit cards today!
6/20/2007 5:46:23 PM (Central Daylight Time, UTC-05:00)
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 Thursday, June 14, 2007
New Confederate variety discovered
Posted by David
A variety of CSA Type 47 has been discovered by Dale Alberstone, who acquired it in Smythe's April 13 auction of the Western Reserve Historical Society collection.  The visible difference is in the shield next to Liberty's legs at upper center of the note. Alberstone's new find has cross hatching or a checkerboard appearance in the lower portion of the shield rather than the usual vertical bands of alternating light and dark. So far, even though specialists Alberstone has contacted have been looking through their holdings, only this one example of the new variety has been found. If you've got one, the CSA collecting and research community would be pleased to hear about it. You can e-mail me at david.kranz@fwpubs.com. An image would be a big plus. Pierre Fricke, author of Collecting Confederate Paper Money, also reported the find in the news section of his Web site www.csaquotes.com. You can see a photo of the normal T-47 shield at his site, and in the upcoming July editon of Bank Note Reporter. Alberstone said Fricke, Hugh Shull and George Tremmel plan to list the variety in future editions of their CSA references. The T-47 note is believed to be some sort of essay or fantasy note rather than a regular issue of Confederate Currency, but since Grover Criswell gave it a type number years ago, collectors have considered it an issue to be collected in the pursuit of a complete CSA set.
6/14/2007 9:51:14 PM (Central Daylight Time, UTC-05:00)
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