Monday, 27 April 2015

Ships On Ancient Coins!

BY THE SIXTH CENTURY BCE, when coinage came into wide use in the Mediterranean world, ships had evolved to a high technical level. Most ships on ancient coins are rowing galleys: big, fragile racing shells designed for ramming. 

Rowers were free citizens, often highly trained athletes. Hollywood, as usual with history, gets it wrong; galley slaves were a medieval innovation rarely employed in the ancient world. Cargo ships, which relied more on sails, were not symbols of power and appear on coins less often.


Greeks
"We live around the shores of the sea like frogs around a pond,” said the philosopher Plato[1] (c. 424-347 BCE). 

Considering the importance of maritime trade and conflict in ancient Greece, it is surprising how few ships appear on archaic (before 500 BCE) and classical (500 – 336 BCE) Greek coins. We hardly ever see a whole ship, usually only the prow (the bow section, with the ram) or the stern (where the steersman sat).

Greek Early Ship

Mariners are famously superstitious–was it bad luck to depict an entire ship? Probably not, since vase paintings of this era often show complete vessels. 

More likely it was simply too difficult for die cutters to engrave so many oars. Even a small warship (the pentekonter) had 25 oars per side, while the standard war vessel (the trireme) had 85 oars per side, packed in three tiers.

Phaselis, established about 700 BCE on the south coast of Lycia in Asia Minor, may have been the first Greek city to use a ship as its emblem on coins. 

The obverse of a rare silver tetrobol (c. 500 – 440 BCE) shows the bow of a ship (in the form of a boar) while the reverse shows the graceful upward sweep of the stern. 

Two centuries later, on a handsome silver stater, the style is more refined, but the imagery is the same (Coinage is conservative!). Note the prominent “eyes,” which were carved from marble, painted, and attached to the bow. Greeks believed these eyes gave the vessel a living spirit and helped it to find its way (Carlson, 359).

Zancle (now Messina, Sicily), founded as a Greek colony in the eighth century BCE, was another early user of the ship’s prow on coinage. A tetradrachm of about 494 BCE shows a samaina, a distinctive type of warship developed by the island of Samos.

In the Hellenistic era (336-146 BCE) ships appear more frequently on Greek coins. Demetrius I of Macedon (who ruled 301-283) issued handsome silver tetradrachms to celebrate his naval victories. 

On the obverse, Nike (winged goddess of victory) stands on a platform at the richly decorated prow of a galley, blowing a trumpet. She holds a ship’s mast, symbolic of sea power. 

On the reverse, Poseidon is about to hurl his trident. Thanks to a hoard of high-grade examples that reached the market in the 1990s, such magnificent coins typically sell for about US$5000.

Monday, 20 April 2015

Dissing The Dollar! - Downtown Kingston Wholesalers Reject $1 coins

Several wholesalers in downtown Kingston are rejecting $1 coins as payment for goods, declaring the legal tender unacceptable in their facilities.

"Go throw them weh; nobody no want them," declared one wholesale operator on East Queen Street when a member of our news attempted to pay 35 $1 coins for an item.
 
Downtown Kingston Jamaica

"I don't owe you any explanations," growled the woman of Asian descent when asked for an explanation as to why she would not accept the coins.

It was a similar story for more than half the other wholesales in the business district as they declined the dollar as payment for items valuing between $35 and $40.

One worker in a wholesaler declared that her boss had a policy that he does not take $1 coins. "No, sah. Him not taking it," the woman said while pointing to a man seeming of Asian descent.
 
Bank of Jamaica $1 Dollar Coins

He ignored The Sunday Gleaner's query as to why he does not accept $1 coins.

One person who was in the wholesaler at the time charged that the operators, who are mainly Chinese, do not want to accept the coins because "them don't want to bank them money so them no want the heavy silver (coins)".

Under the Bank of Jamaica (BOJ) Act, coins are legal tender of payment of an amount not exceeding the face value of a maximum of 50 coins in any combination of denominations.

Last week, the BOJ reiterated that "coins are a legitimate means of settling small transactions and are, by law, legal tender for payment".

According to the BOJ, it stands ready to exchange coins for notes whenever persons accumulate more coins than they deem necessary to keep for daily transactions.

"And we redeem coins for merchants and individuals on a regular basis. We will continue to inform the public as to the provisions of the law with respect to legal tender, and stand ready to facilitate the issue and redemption of notes and coins as demanded by the public," said the BOJ in response to The Sunday Gleaner queries.

However, the BOJ pointed out that not being a law enforcement agency, it is not able to compel business operators to accept the various denominations.

Friday, 17 April 2015

Memorabilia For Birth Of Royal Baby!

The Royal Collection Trust is to issue an official range of commemorative china. The designs will not be unveiled until after the birth and confirmation of the baby's sex and production is not likely to be completed until after the baby has been named.

For George in July 2013, the Royal Collection produced items including a pillbox (£30), a small loving cup (£39), a dessert plate (£45) and a limited-edition loving cup (£195).



They featured a design of scrolls incorporating George's name and birth date, with the lion and unicorn from the Royal Arms supporting William and Kate's coronet, surrounded by oak leaves from the Middleton coat of arms.

Emma Bridgewater confirmed it will issue a commemorative mug, with work set to start as soon as an official birth announcement is made.

Kate has her own connection to the company, having visited its factory in Stoke-on-Trent to see a charity mug she helped design for East Anglia Children's Hospices.

Staffordshire potteries historically mark royal events. Hours after George's name was confirmed, Emma Bridgewater produced a "Hooray for George" half-pint mug with blue print including a heart emblem. The new royal baby's mug will be in a similar vein, a spokeswoman for the firm said.

The Royal Mint will produce a £5 coin in celebration after the Queen - the baby's great-grandmother - approved the decision at a meeting of the Privy Council at Buckingham Palace on March 19.

Babies born on the same day as the royal baby will also be eligible to receive one of 2,015 free "lucky" silver pennies.

Parents of newborns who share a birthday with the new prince or princess will have to register the birth of their child on the Royal Mint's Facebook page to receive the commemorative gift.

The silver coin will be minted with the one penny's Royal Shield design and the new effigy of the Queen, which was unveiled in March. It will be presented in a white box tied with a purple ribbon and featuring the image of a silver carousel horse.

Thousands of commemorative coins were struck to celebrate the arrival of George and sold out within days.

The Royal Mint produced 10,000 solid silver crown-sized £5 coins, which cost £80 each, and 2,013 22-carat gold sovereigns, which cost £800 each. Both featured the prince's namesake St George.

Babies born on the same day as George were also eligible to receive one of 2,013 free silver pennies.

When George turned one, the occasion was also marked by a commemorative £5 coin, making him the first member of the royal family to have his first birthday honoured with a new UK coin. His christening was also marked with a coin.

The Isle of Man Post Office marked George's arrival with a £1 stamp.

The Highgrove Shop - profits from which go to the Prince of Wales's Charitable Foundation - already sells organic baby balm for £24.95, a Highgrove baby bear for £34.95 and a "happy and glorious" baby blanket, featuring guards in red tunics and bearskin hats, priced at £94.95.

http://www.dailymail.co.uk/wires/pa/article-3039601/Memorabilia-birth-royal-baby.html

Monday, 13 April 2015

Why Are NGC Certified Coins In “Old Holders” In Such Demand?

Many of the early graded NGC coins are highly sought after by dealers and collectors. During the recent Baltimore show, one of the dealers had on display an example of the infamous “Black NGC” holders. 

The holders date from the very beginnings of NGC in November of 1987. I have been told that NGC only produced a few hundred coins with the black inserts. 

 Early Graded NGC Black Holder Coins

Apparently, bright silver coins and gold looked great in the holders, but darkly toned coins practically disappeared.

Today, these original NGC black holder coins are extremely collectible in their own right. One dealer who specializes in these holders estimates that fewer than 25 still exist. 

The coins sell for many times the value of coins with the same grade in modern style NGC holders.

The 1837 Seated Dime in an NGC MS65 “Black NGC” holder (pictured below) was being priced at several times the $5,000-$7,000 an average coin would sell for. 

Why do collectors place high values on old holder coins? The answer is actually more complicated than some would think.

There is an avid collector market for examples of certified coins in all old generation holders. Quite a few collectors attempt to purchase an example of every generation of every certified coin ever produced. 

There is even a guide book for the subject that explores NGC and about every other company that has attempted to certify coins in the last 25 years.

Obviously, for collectors of these old holders, a “Black NGC” holder with just 25 or so known is quite the collectible. They would probably much prefer a common date issue to avoid serious sticker shock.

Interestingly, NGC next produced a similar holder, but with a white insert. They used a plain “white” label, and this was deemed unacceptable as well. These “white” label coins are also highly collectible.

Thursday, 2 April 2015

Queen To Hand Out Royal Maundy Coins Tomorrow For 60th Pre-Easter Tradition!

The Queen will undertake the pre-Easter tradition of handing out commemorative Royal Maundy coins tomorrow for the 60th time since her accession to the throne.

Each year, the Royal Mint produces a limited number of special coins for the service. The one, two, three and four pence coins are all legal tender, but the specially made silver coins are not intended for everyday use.


Unlike those in general circulation, the Royal Maundy coins continue to bear the portrait of the Queen produced by Mary Gillick for the first coins of her reign.

Gillick, a sculptor, designed the portrait which appeared on the coins of the UK and some Commonwealth countries from 1953 until preparations for decimalisation began in 1968.

The portrait of the Queen wearing a wreath on her head was considered to reflect the nation's optimism as it greeted a new monarch in the post-war years.

The elderly recipients of Royal Maundy coins have been chosen for the service they have given to their parish and community.

This year the group of 89 men and 89 women from the Sheffield area will each receive two leather pouches, one white and one red, from the Queen during the Royal Maundy service at Sheffield's Church of England Cathedral.

The white purse will contain Maundy coins equating in pence to the Queen's age (89p at present), while the red purse will contain a £5 and a 50p coin.

There have been just five official UK coin portraits created during the Queen's reign, the most recent by Royal Mint designer Jody Clark.

The Royal Maundy is an ancient ceremony which has its origin in the commandment Christ gave after washing the feet of his disciples the day before Good Friday.

The Mint said it seems to have been the custom as early as the 13th century for members of the royal family to take part in Maundy ceremonies.

http://www.westerndailypress.co.uk/Queen-hand-Royal-Maundy-coins-tomorrow-60th-pre/story-26265639-detail/story.html

Monday, 30 March 2015

This Month's Coin: The Roosevelt Dime!

Franklin D. Roosevelt died April 12, 1945, while serving his fourth term as president. Shortly thereafter, Virginia Congressman Ralph H. Daughton introduced legislation for the replacement of the circulating Mercury Head dime with a new dime depicting FDR’s image. 

The dime was chosen to honor FDR’s outstanding work with the March of Dimes Foundation.

The Rooosevelt Dime

FDR had been crippled for many years with polio, and dedicated a lot of his time for raising money to eradicate this disease. In addition, there was a tremendous outpouring of sadness and grief with his passing.

(The March of Dimes became a great sponsor and supporter of the campaign against Birth Defects, after a cure for polio was discovered in the late 50s and early 60s.)

The new coin was designed on a tight deadline by Chief Engraver, John R. Sinnock. Jan. 30, 1946 was the official release date. The image of FDR on the front side of the coin is very strong. The torch, olive branch and oak branch on the reverse side represent peace, liberty, and strength.

The composition of the FDR dime from 1946-1964 was .900 silver and .100 copper. The price of silver increased in 1965, and the public began to hoard circulating silver coins. 

A clad (nickel and copper alloy) coin replaced dimes and quarters. (The 1965-1970 Kennedy half dollars contained 40 percent silver; however, starting in 1971, regular issues of the half dollars were of the “clad” composition.) 

The U.S. Mint resumed limited .900 silver content collectible editions of the FDR dimes in 1992. There are no rarities in this series, and a complete (all mintmarks) UNC (uncirculated) set retails for approximately $500.

Interestingly enough, in 2003, there was some movement in Congress among conservative Republicans to replace the FDR dime with one with an image of Ronald Reagan. 

This project was quickly shelved, especially after former First Lady, Nancy Reagan, objected. She was very supportive of the FDR dime, and its tribute to FDR.

Thursday, 26 March 2015

Royal Baby's Birth To Be Celebrated With New £5 Coin!

The birth of Prince William and Kate's second baby will be celebrated with the release of a new £5 coin. The commemorative piece will be launched after the tot is born, which is expected to be in "mid-to-late" April as Kate has previously revealed.
The Royal Mint also struck a new coin for Prince George's christening in October 2013

While the little Prince or Princess is not expected to ever rule as a monarch, being fourth-in-line to the throne, he or she will have a coin struck in their honour – much like older brother Prince George.

The Queen approved the decision during a meeting of the Privy Council at Buckingham Palace on 19 March. Prince William and Kate will welcome their second royal baby in April

The Royal Mint told HELLO! Online that they could not comment on the new product until the second royal baby was born and the coin was ready to be launched. Crossing the palms of babies with silver is a traditional way of wishing them luck, health and wealth.

When George arrived in July 2013, The Royal Mint produced 10,000 solid silver crown-sized £5 coins – which cost £80 each – and 2,013 22 carat gold sovereigns, priced at £800 each.

Both coins, which featured the newborn's namesake St George, were sold out within days. Prince George's July 2013 birth was also celebrated with the release of a new £5 coin

Babies born on the same day as the Prince were also given their own royal gift in the form of a lucky silver coin. The Royal Mint struck a total of 2,013 silver coins and presented them, free of charge, to the tots who shared George's birthday.
Depending on the sex of the child, the coin was delivered in a pink or blue pouch. While George's birth was celebrated with the new coins, his baptism was also marked in a similar way.

A set of special coins was released, featuring two cherubs, the traditional "Lily Font" from the Tower of London and the phrase, "To celebrate the christening of Prince George of Cambridge 2013."

This was the first time that a member of the British royal family's baptism had been honoured in this way. The Royal Mint also struck a new coin for Prince George's christening in October 2013

When George turned one, his first birthday was also commemorated with another new £5 coin. The sterling silver piece featured the heraldic royal arms on one side and a portrait of Her Majesty's face on the other.

The Queen, William and Kate, and Chancellor of the Exchequer George Osborne all approved the design of the coin.