Inside the U.S. Mint
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A Model of Bimetallism
Federal Reserve Bank of Minneapolis Research Department A Model of Bimetallism François R. Velde and Warren E. Weber Working Paper 588 August 1998 ABSTRACT Bimetallism has been the subject of considerable debate: Was it a viable monetary system? Was it a de- sirable system? In our model, the (exogenous and stochastic) amount of each metal can be split between monetary uses to satisfy a cash-in-advance constraint, and nonmonetary uses in which the stock of un- coined metal yields utility. The ratio of the monies in the cash-in-advance constraint is endogenous. Bi- metallism is feasible: we find a continuum of steady states (in the certainty case) indexed by the constant exchange rate of the monies; we also prove existence for a range of fixed exchange rates in the stochastic version. Bimetallism does not appear desirable on a welfare basis: among steady states, we prove that welfare under monometallism is higher than under any bimetallic equilibrium. We compute welfare and the variance of the price level under a variety of regimes (bimetallism, monometallism with and without trade money) and find that bimetallism can significantly stabilize the price level, depending on the covari- ance between the shocks to the supplies of metals. Keywords: bimetallism, monometallism, double standard, commodity money *Velde, Federal Reserve Bank of Chicago; Weber, Federal Reserve Bank of Minneapolis and University of Minne- sota. We thank without implicating Marc Flandreau, Ed Green, Angela Redish, and Tom Sargent. The views ex- pressed herein are those of the authors and not necessarily those of the Federal Reserve Bank of Chicago, the Fed- eral Reserve Bank of Minneapolis, or the Federal Reserve System. -
Buyers-Guide.Pdf
Gold & Silver Buyer’s Guide Inc. SINCE 1973 Precious Metals Buyer’s Guide Gold and silver are two of the most conservative investments you can make. However, if you buy the wrong form, you could lose 30% to 50% immediately. There are various forms of gold and silver, but the first thing to know is that YOU WANT BULLION, not numismatic/collectible coins that are hyped on radio and TV. With bullion, you pay the smallest mark-up over the current value of the gold/silver content. In short, you get more metal for your money. The commonly-promoted numismatic/collectible coins on radio/TV easily carry premiums of 30% to 50% and sometimes two to three times the value of the gold/silver content. Gold bullion comes in two forms: bullion coins and bullion bars. GOLD 1-oz. American Gold Eagle bullion coins Gold bullion coins are produced by various government mints, including the U.S. Mint, the Royal Canadian Mint, Australia’s Perth Mint and the Austrian Mint. 1-oz. Canadian Gold Maple Leaf 1-oz. American Gold Eagles are the world’s most popular gold bullion coins; they also come in ½-oz., ¼-oz. and 1/10-oz. coins. Because Gold Eagles are alloyed coins, 91.67% pure (22-karat), they weigh slightly more than their stamped weights. Be assured that a 1-oz. Gold Eagle contains one ounce of gold, and a ½-oz. Gold Eagle contains one-half ounce of gold, etc. 1-oz. Australian Gold Kangaroo 1-oz. Austrian Gold Philharmonic cmigs.com | 800.528.1380 Also widely traded are South African Gold Krugerrands, which launched the gold bullion industry in the early 1970s. -
Minting America: Coinage and the Contestation of American Identity, 1775-1800
ABSTRACT MINTING AMERICA: COINAGE AND THE CONTESTATION OF AMERICAN IDENTITY, 1775-1800 by James Patrick Ambuske “Minting America” investigates the ideological and culture links between American identity and national coinage in the wake of the American Revolution. In the Confederation period and in the Early Republic, Americans contested the creation of a national mint to produce coins. The catastrophic failure of the paper money issued by the Continental Congress during the War for Independence inspired an ideological debate in which Americans considered the broader implications of a national coinage. More than a means to conduct commerce, many citizens of the new nation saw coins as tangible representations of sovereignty and as a mechanism to convey the principles of the Revolution to future generations. They contested the physical symbolism as well as the rhetorical iconology of these early national coins. Debating the stories that coinage told helped Americans in this period shape the contours of a national identity. MINTING AMERICA: COINAGE AND THE CONTESTATION OF AMERICAN IDENTITY, 1775-1800 A Thesis Submitted to the Faculty of Miami University in partial fulfillment of the requirements for the degree of Master of Arts Department of History by James Patrick Ambuske Miami University Oxford, Ohio 2006 Advisor______________________ Andrew Cayton Reader_______________________ Carla Pestana Reader_______________________ Daniel Cobb Table of Contents Introduction: Coining Stories………………………………………....1 Chapter 1: “Ever to turn brown paper -
How to Collect Coins a Fun, Useful, and Educational Guide to the Hobby
$4.95 Valuable Tips & Information! LITTLETON’S HOW TO CCOLLECTOLLECT CCOINSOINS ✓ Find the answers to the top 8 questions about coins! ✓ Are there any U.S. coin types you’ve never heard of? ✓ Learn about grading coins! ✓ Expand your coin collecting knowledge! ✓ Keep your coins in the best condition! ✓ Learn all about the different U.S. Mints and mint marks! WELCOME… Dear Collector, Coins reflect the culture and the times in which they were produced, and U.S. coins tell the story of America in a way that no other artifact can. Why? Because they have been used since the nation’s beginnings. Pathfinders and trendsetters – Benjamin Franklin, Robert E. Lee, Teddy Roosevelt, Marilyn Monroe – you, your parents and grandparents have all used coins. When you hold one in your hand, you’re holding a tangible link to the past. David M. Sundman, You can travel back to colonial America LCC President with a large cent, the Civil War with a two-cent piece, or to the beginning of America’s involvement in WWI with a Mercury dime. Every U.S. coin is an enduring legacy from our nation’s past! Have a plan for your collection When many collectors begin, they may want to collect everything, because all different coin types fascinate them. But, after gaining more knowledge and experience, they usually find that it’s good to have a plan and a focus for what they want to collect. Although there are various ways (pages 8 & 9 list a few), building a complete date and mint mark collection (such as Lincoln cents) is considered by many to be the ultimate achievement. -
The Cases of the Liberty Dollar and E-Gold Lawrence H
The Troubling Suppression of Competition from Alternative Monies: The Cases of the Liberty Dollar and E-gold Lawrence H. White Proposals abound for reforming monetary policy by instituting a less-discretionary or nondiscretionary system (“rules”) for a fiat- money-issuing central bank to follow. The Federal Reserve’s Open Market Committee could be given a single mandate or more gener- ally an explicit loss function to minimize (e.g., the Taylor Rule). The FOMC could be replaced by a computer that prescribes the mone- tary base as a function of observed macroeconomic variables (e.g., the McCallum Rule). The role of determining the fiat monetary base could be stripped from the FOMC and moved to a prediction mar- ket (as proposed by Scott Sumner or Kevin Dowd). Alternative pro- posals call for commodity money regimes. The dollar could be redefined in terms of gold or a broader commodity bundle, with redeemability for Federal Reserve liabilities being reinstated. Or all Federal Reserve liabilities could actually be redeemed and retired, en route to a fully privatized gold or commodity-bundle standard (White 2012). All of these approaches assume that there will con- tinue to be a single monetary regime in the economy, so that the way to institute an alternative is to transform the dominant regime. Cato Journal, Vol. 34, No. 2 (Spring/Summer 2014). Copyright © Cato Institute. All rights reserved. Lawrence H. White is Professor of Economics at George Mason University, a member of the Mercatus Center Financial Markets Working Group, and a Senior Fellow at the Cato Institute. 281 Cato Journal A different approach to monetary reform is to think about ways that alternative monetary standards might arise in the marketplace to operate in parallel with the fiat dollar, perhaps gradually to displace it. -
Important Information About Ordering from the Royal Australian Mint
Return to: Locked Bag 31 Customer No: KINGSTON ACT 2604 ORDER FORM – March 2019 Australian and International Deliveries Important information about ordering from the Royal Australian Mint Phone Orders: 1300 652 020 International: +61 2 6202 6800 General Conditions For the cost of a local call you can place your order with our Contact Centre. • All cheques and money orders should be in Australian dollars and made payable The Contact Centre is open 8.30 am – 5.00 pm (AEDST) Monday to Friday excluding public holidays. to the Royal Australian Mint. • Cheques and money orders will only be accepted with mailed orders. (Aust. only) Online Ordering: https://eshop.ramint.gov.au • Postage must be included with all coin orders, except for an order in Australia Ordering from our website is safe, secure and easy. Our site is available 24 hours a day, valued at $350.00 or more in one transaction. seven days a week. Registering online and providing us with your email address means • Unless otherwise stated Australian domestic orders will be dispatched within we can keep you informed of coin releases and launch dates. 10 – 14 working days of the order being processed. • Unless otherwise stated Australian and international orders will be dispatched Terms & Conditions relating to lost packages when using within 21 working days of the order being processed. re-direction through MyPost Delivery App. • Orders may be split by the Royal Australian Mint to meet our delivery schedule The Royal Australian Mint will not be not liable for any missing customer orders where orders sent and stock availability. -
ECONOMICA Revistă Ştiinţifico-Didactică
ECONOMIE GENERALĂ / ECONOMICS ACADEMIA DE STUDII ECONOMICE DIN MOLDOVA ECONOMICA Revistă ştiinţifico-didactică An. XVIII, nr.2 (72), iunie 2010 © Departamentul Editorial–Poligrafic al ASEM Revista / Journal „ECONOMICA” nr.2 (72) 2010 1 ECONOMIE GENERALĂ / ECONOMICS COLEGIUL DE REDACŢIE: Prof. univ. dr. hab. Ion BOLUN, Academia de Studii Economice din Moldova Prof. univ. dr. hab. Vasile BUCUR, Academia de Studii Economice din Moldova Prof. dr. Piotr BULA, Academia de Economie din Kracovia, Polonia Prof. univ. dr. hab. Eugenia FEURAŞ, Academia de Studii Economice din Moldova Prof. dr. hab. Iurii MACAGON, Universitatea Naţională, Ucraina Prof. univ. dr. hab. Vitalii MACAROV, Academia de Ştiinţe, Rusia Prof. univ. dr., acad. Anatolie MAZARACHI, Universitatea Naţională de Comerţ şi Economie din Kiev, Ucraina Prof. univ. dr. hab. m.c. al AŞM Gheorghe MIŞCOI, Academia de Ştiinţe a Moldovei Prof. univ. dr. hab. m.c. al AŞM Dumitru MOLDOVAN, Academia de Studii Economice din Moldova Prof. univ. dr. Ion PETRESCU, Universitatea „Spiru Haret”, Braşov, România Prof. dr. Alban RISCHARD, Universitatea „Pierre Mendès France de Grenoble”, Franţa Prof. dr. Agop SARKISEAN, Academia de Economie din Sviştov, Bulgaria Prof. univ. dr. Ioan-Franc N. VALERIU, Institutul de Cercetări Economice al Academiei Române Prof. univ. dr. Gheorghe ZAMAN, m.c. al Academiei Române, Institutul de Economie Naţională Prof. univ. dr. hab. Rodica HÂNCU, Academia de Studii Economice din Moldova Prof. univ. dr. Oleg STRATULAT, Academia de Studii Economice din Moldova Conf. univ. dr. Marina BELOSTECINIC, Academia de Studii Economice din Moldova Conf. univ. dr. Nadejda BOTNARI, Academia de Studii Economice din Moldova Conf. univ. dr. Oxana SAVCIUC, Academia de Studii Economice din Moldova Conf. -
COIN NEWS CANADIAN Numismatic
ebrati el ng C CANADIAN 50 COIN NEWS YEARS Volume 51 • Number 06 July 2 - 15, 2013 $3.50 Louisbourg settlement’s 300 years marked by coins By Bret Evans From left to right: Royal he Royal Canadian Mint has Canadian Mint Board of issued two new coins mark- Directors member Kirk ingT the 300th anniversary of the MacRae and Parks Canada founding of the settlement of Field Unit Superintendant Louisbourg, on Cape Breton Is- (Cape Breton) Chip Bird land. unveil new gold and silver Founded in 1713 by 150 colo- collector coins honouring nists from France, the settlement the 300th anniversary of the quickly grew into a fortress with founding of Louisbourg at one of the largest military garri- the Fortress of Louisbourg sons in North America. Con- National Historic Site in struction of the fortification was Cape Breton, Nova Scotia. mostly done between 1730 and 1740. Eventually the population The reverse design shows the reached nearly 5,000 people. Frederick Gate, and images of The settlement’s strategic lo- cod and a ship. It was designed cation made it desirable to both by Peter Gough. the British and the French. The weeks. Maj. Gen. Jeffrey Amherst restoration of parts of the origi- tering containing the words The small coin weighs 1/25 of a British captured it in 1758, but it had determined that its capture nal town and fortress took place. “Louisbourg 300” and a repeat- troy ounce, with a diameter of was returned to France in return was essential before any effort One of the commemorative ing pattern of an anchor, fleur- 13.93 mm. -
Canadian Coins
www.canadiancoinnews.ca Canadian Coin News An essential resource for the advanced CANADIAN and beginning collector Like us on Facebook at www.facebook.com/canadiancoinnews COIN NEWS Follow us on Twitter @trajanpublisher Volume 52 • Number 09 August 12 - 25, 2014 $3.50 World Cup memories live on in coins By Bret Evans As the world settles down from World Cup fever, coin collectors will have plenty of souvenirs to remember the 2014 games. FIFA – the sanc- A 1911 $1,000 in Specimen will be part of the RCNA auction this year. tioning body for the event – recognizing the success of com- memorative coins for events such as the More learning, more money Olympic Games, created its own official numismatic program back in 2004. at upcoming RCNA convention In recent years, the com- The World Cup’s colourful pany MDM (Münzhandels- mascot, Fuleco, is By Bret Evans most prestigious in Canada. cide with the convention. As gesellschaft Deutsche featured on a $10 coin he Royal Canadian Nu- However, seasoned collectors in recent years, the conven- Münze) has been responsible from Cook Islands. mismatic Association is know there is much more to tion will also play host to a for the development, promo- returningT to the Toronto area, the event than just the one daylong educational sympo- tion and roll-out of the offi- The coins offered by MDM Aug. 12-16, when the organi- room. sium, being held Aug, 13, cial international commemo- include gold and silver com- zation holds its 60th annual Over the course of the five starting at 9 a.m., with com- rative coin program for the memorative coins from 40 convention. -
Longacre's Ledger
Longacre's Ledger The Journal of the Flying Eagle and Indian Cent Collector's Society Vol. 10.3, Issue #45 WWW.FLYINCLUB.COM September 2000 Contents Featured Articles Misaligned dies and strike-though errors Index ofback issues and descriptions of •.•........................ By Ken Hill Longaae ~ Ledger. More about the 1858/7S-7 (LL) ...................... By John Smith .. By Rick Snow Analysis ofthe 1862 S-4 A new counterfeit to watch for ................. By Tim Cartwright ............... By Marvin Erickson 1907 Double struck Indian Cent Columns ..................... By Chris Pi/liod How many are there, anyway?..By Jerry Wysong Finding the elusive early die state 1858/7 Sl Something new!.. By Rick Snow ....................... By John Sndth Membership $20 per calender year - P.O. Box 13891, Reading, PA 19612 A Buyer's and Enthusiast's Guide to Flying Eagle and Indian Cents owers and Merena is pleased to offer one of Dave Bowers' most popular and Binformative books,A Buyer's andEnthusiast's Guide to Flying Eagle andIndian Cents. This volume is over 500 pages in length, and is a comprehensive discussion ofall aspects ofFlying Eagle and Indian cents from 1856 through 1909. Chapters are devoted to grading, past and present market conditions, aspects ofrarity, the minting process, and more, all accompanied by many high-quality illustrations. Each individual issue is given a chapter of its own, which discusses market values over the years, rarities at different grade levels ofeach piece, market tips, things to watch for when buying, the number of dies used, important die varieties and unusual features, and more. [n some instances over a dozen pages are devoted to a single coin date! A beginning collector as well as an experienced dealer will find this volume to contain much information not available elsewhere and to be a one-book library on the subject. -
Breaking Tradition
ANNUAL REPORT 2012 BREAKING TRADITION As our business evolves, so must our brand—to ensure our corporate identity is an authentic expression of our character, offer and value. We renewed our brand to convey the dynamism of the Mint, our commitment to our stakeholders, and the spirit of engagement that drives our interactions with customers. As part of the exercise, we adopted a fresh, modernized logo. This new mark retains the maple leaf as a Canadian icon and coins as a symbol of our core business. It affirms our two core pillars of pride and trust and emphasizes in a new way our third: innovation. 2 | ROYAL CANADIAN MINT ANNUAL REPORT 2012 5 Financial and Operating Highlights 32 Performance Against Objectives 8 At a Glance: Breaking Tradition 34 Management Discussion and Analysis 18 Message from the President and CEO 55 Management Report 19 Message from the Chair 56 Audit Committee Report 20 Corporate Social Responsibility 57 Independent Auditor’s Report 22 Corporate Governance 58 Financial Statements 29 Directors and Officers 62 Notes to the Consolidated Financial Statements 30 Business Lines 100 Statistics HEAD OFFICE AND WINNIPEG PLANT BOUTIQUE LOCATIONS OTTAWA PLANT Royal Canadian Mint Royal Canadian Mint Ottawa Visit our online store 320 Sussex Drive 520 Lagimodière Boulevard 320 Sussex Drive for a full selection of products Ottawa, Ontario Winnipeg, Manitoba Ottawa, Ontario at www.mint.ca Canada K1A 0G8 Canada R2J 3E7 Canada K1A 0G8 613-993-3500 204-983-6400 613-933-8990 Vancouver 752 Granville Street Vancouver, British Columbia -
The World's Coinage in Our Hands
The world’s coinage in our hands The world’s leading export mint Supplying approximately 5 billion coins and blanks to over 40 countries each year, The Royal Mint is the world’s leading export mint. We are the trusted partner of more governments and central banks than any other mint, delivering high-quality products that help our customers achieve more value from their currency. Redefining currency As cash cycles evolve, we’re helping customers all over the world to redefine how coins and currency are designed and manufactured, ensuring each currency system meets the needs of its economy. The world’s authority on coins and currency The Royal Mint is a 21st-century business backed by more than 1,100 years of experience and continuous improvement. We continue to define the minting industry, delivering the world’s best currency to our partners around the globe. Security and reliability “The new £1 coin has been designed to be fit for the future, using security features that aim to safeguard our currency, and currencies around the world, for years to come. Staying ahead of sophisticated counterfeiters remains a constant challenge and this coin helps in that battle.” Adam Lawrence Chief Executive of The Royal Mint As the creator of the most secure coin in the world – the new UK 12-sided £1 coin – we can offer our customers the highest levels of security expertise. From design and manufacture through to storage and distribution we’re always looking for ways to enhance currency security. Durability like no other Our longer-lasting mono-ply technology is the cost-effective alternative to more expensive currency options.