Coin Week: Online Resources for Researching Ancient Coins

Coin Week: Online Resources for Researching Ancient Coins. “With thousands of types issued by hundreds of cities, states, and rulers over many centuries, information on ancient coins is scattered across out-of-print books and obscure journal articles in many languages. A common saying among old-school collectors is ‘buy the book before you buy the coin’ – but finding these books often requires diligent, patient search, and buying them may demand deep pockets. Fortunately, during the past two decades, a tremendous range of instantly accessible online resources has emerged to help the collector of ancient coins in their study and research.”

New York Times: Regulators Ask Congress to Create New Rules for Cryptocurrencies

New York Times: Regulators Ask Congress to Create New Rules for Cryptocurrencies. “Federal regulators say they urgently need more power from Congress to properly regulate stablecoins, a fast-growing type of cryptocurrency that they warn could result in bank runs, consumer abuse and payment snafus unless lawmakers act quickly, according to a report issued Monday by the Treasury Department.”

CNET: China’s central bank declares all cryptocurrency transactions illegal

CNET: China’s central bank declares all cryptocurrency transactions illegal. “According to the notice, Beijing will ban all financial institutions, payment companies and internet platforms from enabling cryptocurrency trading. In addition, China’s central bank is seeking to target foreign exchanges, declaring ‘the provision of services by overseas virtual currency exchanges to Chinese residents through the internet’ to be illegal.”

The National: Google glitch causes confusion about Indian rupee conversion rate

The National: Google glitch causes confusion about Indian rupee conversion rate. “A temporary glitch in search engine Google’s currency converter tool on Wednesday showed the dirham-Indian rupee conversion rate to be much lower than it actually is, sparking confusion among Indian expats in the UAE. The Indian rupee was shown to have briefly plunged to about 24.8 versus the UAE dirham on Wednesday, according to rates aggregated by Google.” The rupee was actually worth about triple that.

Counterpunch: Turning Memes into Money in El Salvador

Counterpunch: Turning Memes into Money in El Salvador. “On June 5, President Nayib Bukele announced his plans to make El Salvador the world’s first country to accept Bitcoin, a popular digital cryptocurrency, as a form of legal tender. The nation’s legislative assembly, under the majority control of Bukele’s New Ideas party, passed the bill just three days later. Under the new legislation, Bitcoin must be accepted as payment by all private firms and by the nation’s tax authorities. The move puts El Salvador into uncharted territory, posing serious risks that likely outweigh any potential benefits.”

An Oxford Historian: The Corpus of Early Medieval Coin Finds

New-to-me, from An Oxford Historian: The Corpus of Early Medieval Coin Finds. “Run by Cambridge’s Fitzwilliam Museum, this site provides a database for single coin finds from the years c. 410 to 1180. Far more specifically focused than the PAS, this is the perfect resource for anyone interested in numismatics more specifically. Included in each entry is a photograph of both sides of the coin, along with a lot of background information, and a useful catalogue number for further research.”

The Art Newspaper: Calling all numismatists! Biggest coin database in German-speaking world to go live today

The Art Newspaper: Calling all numismatists! Biggest coin database in German-speaking world to go live today. “A new database with information on approximately 90,000 coins in German and Austrian public collections is due to go live at 6pm central European time today, the fruit of seven years of planning and preparation by 29 institutions. The portal… will offer free access to the biggest coin database in the German-speaking world, comprising parts of the collections of the Münzkabinett in Berlin and its counterpart at Vienna’s Kunsthistorisches Museum as well as thousands of coins in smaller museums and university collections.” It’s already launched; this article is from late May. There is an English version of the site available.

The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?

The Diplomat: How Will China’s Sovereign Digital Currency Affect Fintech?. “China’s sovereign digital currency is still in the testing phase, but has caused speculation about what effect it will have on fintech. Some experts have asserted that the digital currency will crowd out payment methods WeChat Pay and Alipay. Others have stated that China’s sovereign digital currency will boost the fintech industry overall since it is electronic. So, how can we reasonably predict will the effect of the digital currency will be on China’s fintech industry?”

Ticker tape and a binary message: Bank of England’s new Alan Turing £50 must be the nerdiest banknote ever (The Register)

The Register: Ticker tape and a binary message: Bank of England’s new Alan Turing £50 must be the nerdiest banknote ever. “Due to hit circulation on 23 June, the design replaces the relatively short-lived incarnation featuring Matthew Boulton and James Watt. Instead, the update will show the scientist Alan Turing and the Automatic Computing Engine (ACE) he developed….Also celebrating Turing’s imminent arrival on the note is UK agency GCHQ, which has created a set of puzzles that produce 11 words or names to be tapped into the agency’s Enigma machine simulator.”

CoinWeek: Revived ANA Money Museum Exhibit Now Online

CoinWeek: Revived ANA Money Museum Exhibit Now Online. “The ANA Money Museum’s exhibit, ‘Coins, Crown & Conflict: An Exploration of Cromwell’s England’ – originally displayed in 2007-08 – can now be appreciated virtually. The popular exhibit was based on the history of the English Civil Wars and featured some of the great rarities of English coins (including the Petition Crown), as well as a number of early American coins.” The article outlines several other online exhibits available from the American Numismatic Association’s money museum.

A penny pinch: How America fell into a great coin shortage (Washington Post)

Washington Post: A penny pinch: How America fell into a great coin shortage. “When the nation’s coin shortage trickled down to Giant Wash Coin Laundry, chief executive Daryl Johnson plastered his stores with signs urging customers to bring in loose quarters and reprogrammed the change machines at his Minneapolis-area chain to take only smaller bills. At one point, Johnson crossed state lines to head to Omaha on a critical mission to acquire $8,000 worth of quarters from another laundromat owner who had coins to spare.”

A ‘strange effect’ of the COVID-19 pandemic: Coin shortage leaving stores, banks begging for loose change (Mass Live)

Mass Live: A ‘strange effect’ of the COVID-19 pandemic: Coin shortage leaving stores, banks begging for loose change. “When the cash registers ran dangerously low of quarters this month, the owners of Fruit Fair supermarket took the drastic step of raiding their gumball machines. They aren’t alone in seeing coin supplies run dry. With many businesses shut down for months and customers concerned about spreading the coronavirus through cash, people are using coins less frequently — leading to a shortage of pennies, nickels, dimes and quarters in circulation.”

New York Times: Will the Penny Survive Coronavirus? Some Hope Not

New York Times: Will the Penny Survive Coronavirus? Some Hope Not. “A nationwide coin shortage caused by the coronavirus pandemic has revived a debate: Is now the time to eliminate the penny? During lockdowns, consumers have stayed home and avoided emptying their piggy banks of coins in exchange for paper money. Shoppers have also opted to rely on credit and debit cards instead of touching cash.”

BloombergQuint: U.S. Dollar Suffers Its Worst Month in a Decade

BloombergQuint: U.S. Dollar Suffers Its Worst Month in a Decade. “The euro rose the most in a decade this month, the British pound is headed for its best July since 1990, and for the first time this year, every major currency in the world rose against the greenback. A gauge of the dollar against its biggest peers is down 4.4% this month, the worst rout in a decade.”