The surging Canadian dollar known as the loonie struck many headlines throughout 2007 and now it gets at least one more - the selection by Time magazine as the Canadian Newsmaker of 2007.
The loonie started the year at 87 cents US and hit a peak on November at $1.10. Most notable for the loonie, however, was Sept. 20, 2007 when it struck parity with the US dollar for the first time in nearly 31 years.
Imports were cheaper for Canadians due to the rise. However, a large percentage of Canadian exports enter the US, resulting in painful constraints in sectors like manufacturing.
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In a blaze of actions and to get home for the holidays, the Senate and House tossed together a several hundred page bill named, The Consolidated Appropriations Act, 2008. The bill has been given to the President and while there’s no guarantee, the signing of it seems likely.
(Editor’s update: President Bush signed the act into law Dec. 26.)
Even with the latest and greatest computer, the digital document takes seconds to load. Reading it in its entirety… well, that’s hours of tedium. Thanks to modern search tools, quicker inspection is possible. And upon review, the bill contains a few nuggets of interest for coin collectors.
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Chester Endress, a 73-year old coin collector and owner of Chet’s Coins, was robbed over the weekend in Akron, OH.
Based on video footage provided by WKYC-TV, the thieves made their entry by cutting through Mr. Endress’s wall from an empty and adjacent store. A torch was then used to slice into the safe holding the coins.
Given the nature of the heist, it would appear the criminals had experience and they were familiar with the layout of the coin shop. They were able to gain access, disable the alarm and cut open the safe in a timely enough fashion to escape with the coins.
The short WKYC-TV article, Coin shop heist nets estimated $750,000 worth of rare and common coins, describes the incident and includes some photos of the break in while the more detailing video report provides the most insights.
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