Just minutes ago the James Madison Presidential $1 Coins officially entered into circulation and are available at U.S. banks and other financial institutions.
The Madison Dollar is the fourth and last presidential coin released this year.
Madison is known as the Father of the Constitution. Having heard himself referenced that way, Madison protested by saying the Constitution was not "the off-spring of a single brain," but "the work of many heads and many hands."
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It’s a Sen-sible move. The cost of the Malaysia one Sen coin is too much to bear compared to the value of its use.
Similar to the U.S. Lincoln penny, Malaysia’s smallest coin costs more to make than its worth and its buying power has made the coin less attractive in day-to-day usage.
While the U.S. is considering metal composition changes to reduce the penny cost and is ramping up a Lincoln commemorative coin program starting in 2009, the Malaysian government, like so many others already have, is phasing their smallest coin out.
The one sen will continue to be legal tender. However, by April 1, 2008, Malaysian retailers will begin rounding up or down the total payment due on any over-the-counter transactions. By rounding to the nearest five sen, the usage of the one sen and the need to produce it will evaporate.
Once that’s accomplished, a future decision can be made on whether to demonetize it.
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A 7-month low hit copper yesterday in New York futures trading. The fall was driven by concerns of softer import data from China.
As interesting as the up trend has been, a continue decline could well be appreciated. It would at least subdue some of the negativity its rise has made.
The ban on melting pennies and its copper and the new legislation to remove it is one thing. That should sort itself out.
But the daily and nightly copper news stories are something else. Recycling discarded or unused copper is a good story. However, the stream of scavengers who steal copper are absolutely mind-boggling.
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Buying a box of Cheerios® in January of 2000 bought you more than a good breakfast. You were given one shot at a very special Sacagawea golden coin.
Just a dollar you say? Not quite. These Cheerios dollars are now being sold for several thousand dollars each.
You likely remember the introduction of the Sacagawea golden dollars back in 2000. It’s hard not to remember. The U.S. Mint spent $53,000,000 that year on marketing and advertising just to get your attention.
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It’s been an interesting week for precious metals. In particular, the flurry in gold has many experts now predicting it’ll soon eclipse the all-time high. In the same instance, many are hedging their bets by declaring the possibility of an eventual and painful price correction.
Above is the CoinNews.net chart showing this week’s London Fix prices for silver, gold and platinum.
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An old 1776 Spanish coin was found in a Nashville Cemetery when a sunken footstone was being raised for restoration purposes.
The location and type of coin - once commonly known as a "piece of eight" or, for Western TV watchers, a "peso" - makes the discovery rather unique.
However, don’t expect future treasure announcements to emerge from the cemetery. Not only is it illegal to go about treasure hunting in cemeteries, but doing so would be a waste of time.
The coin was a random find like that of a penny on the street, and likely accidentally dropped and lost many years back just as randomly.
Nevertheless, an interesting single coin find worthy of discussion that Tennessean.com brought to light in their article: 1776 coin turns up in Nashville cemetery.
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The debate heated up on whether the metal composition of coins should be controlled by the U.S. Treasury and whether the ban of melting pennies for their copper content should be lifted.
CoinNews.net had its own article on the topic and, like other news organizations, coin collectors and bloggers, everyone was interestingly awaiting some type of outcome.
More debates were expected this week with scheduled House hearings on the matter. The House Committee on Financial Services, chaired by Congressman Barny Frank and a co-sponser of the newest bill that’s made national news headlines, had a hearing scheduled for yesterday, November 8.
It looked to be an interesting event with witnesses, testimony and two panels set up in front of the Domestic and International Monetary Policy Subcommittee. The participants:
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The Utah quarter is ready. It’s the final state quarter for 2007, the fifth released this year and the 45th coin in the United States Mint’s 50 State Quarters® Program.
The quarters are fresh off the presses and available in special U.S. Mint rolls and bags.
The two-roll set is priced at $32.95 and includes a roll of 40 Utah quarters minted in Philadelphia and a roll of 40 quarters from Denver. The coins will bear the "P" and "D" mint marks respectively.
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It’s hard to surpass the excited imaginations of ancient medieval fortresses filled with bounties of hidden treasures. For a lucky few, imaginations turn to reality.
That’s likely what happened to archaeologists who recently discovered a small hoard of ancient golden coins in an old medieval fortress named Markely.
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Back on October 10, the United States Mint first suspended several platinum coin sales.
With the surging movement of bullion, the Mint has implemented cycles of coin suspensions in order to reintroduced coins at higher prices.
Unfortunately, the suspensions to date haven’t been a one or two day event but instead lasted weeks. Fortunately, the wait for the resumption of American Eagle Platinum Uncirculated coins is now over.
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