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Articles on December 27th, 2007

Ancient 800 Year-Old Chinese Merchant Ship Raised in South China Sea

Chinese archaeologists have raised an 800 year-old merchant ship built during the Song dynasty (960-1279). It’s dubbed the "Titanic of China" and before sinking, it was hauling a treasure trove of porcelain, gold, jewels and other artifacts, including 6,000 coins.

The treasure ship, officially labeled Nanhai No. 1, or “South China Sea No. 1,” was discovered 82 ft (25m) below water in a bed of mud. That mud helped to preserve the ancient ship and its contents for all these years.

Thousands of artifacts have been recovered and the remarkable next phase has already occurred - the Nanhai 1 was lifted from the sea floor and loaded onto a cargo ship.

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He Finds $182,000 in a Bathroom Wall — She Wants It. Who Gets It?

You’re tearing out plaster from a bathroom wall and suddenly wads of cash appear before your eyes. The cash hoard is enormous with a face amount totaling $182,000.

Better yet, it’s not just any old cash, but 70-year old bank notes in great condition with some on the rare side. Suddenly, the $182,000 starts to seem small.

There’s just one problem. The wall you were ripping out wasn’t yours. You’re a contractor working on renovating a home.

You do the right thing. Instead of taking the money without saying a word, you notify the homeowner. Like you, she’s excited.

At first everything is amicable. Then the reality of the find sets in and the situation becomes a legal battle.

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U.S. Mint Shows Off 2008 Presidential $1 Coins

The 2008 Presidential $1 CoinsThe United States Mint offered up a sneak peek of the four Presidential $1 Coins scheduled for release in 2008.

The next four coins will begin the second year of a decade-long series and make their debut in three month increments with the following presidential order and issue dates:

  • James Monroe on Feb. 14
  • John Quincy Adams on May 15
  • Andrew Jackson on Aug. 14
  • and Martin Van Buren on Nov. 13

The first four Presidential Dollars issued in 2007 had the image of George Washington, John Adams, Thomas Jefferson and James Madison. According to US Mint coin production figures, the Mint turned out 768,530,000 Presidential $1 Coins in 2007. (The total does not include mintage figures for the last Madison Presidential coin, which was released in November.)

With such high mintage numbers, you would expect the coins to be readily available and used in daily transactions. That Mint desire is a long distance from reality with the Presidential $1 Coins nearly invisible outside the coin collector community.

Mint Director Ed Moy was quoted as saying:

 

“We hope the next four presidential $1 coins will not only jingle in pockets but be spent as well. These coins are convenient. Each presidential $1 coin weighs less than four quarters, and they’re especially useful for vending machines and mass transit."

“We will be working with several local retailers and banks in a concentrated area to facilitate the increased circulation of Presidential $1 Coins. We want to see more of these coins used in daily transactions and given out as change like other denominations.”

 

2008 would seem to be the year the Mint will focus more on the new dollar coin’s compatibility with vending machines, their ease in use with transit systems and getting banks on board to supply them.

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