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Coin
A coin is a small, flat (usually depending on the country or value), round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Coins often have images, numerals, or text on them. ''Obverse'' and its opposite, ''reverse'', refer to the two flat faces of coins and medals. In this usage, ''obverse'' means the front face of the object and ''reverse'' means the back face. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse ''tails''. Coins are usually made of metal or an alloy, or sometimes of man-made materials. They are usually disc shaped. Coins, made of valuable metal, are stored in large quantities as bullion coins. Other coins are used as money in everyday transactions, circulating alongside banknotes. Usually the highest va ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sovereign (British Coin)
The sovereign is a British gold coin with a nominal value of one pound sterling (£1) and contains 0.2354 troy oz of pure gold. Struck since 1817, it was originally a circulating coin that was accepted in Britain and elsewhere in the world; it is now a bullion coin and is sometimes mounted in jewellery. In addition, circulation strikes and proof examples are often collected for their numismatic value. In most recent years, it has borne the design of Saint George and the Dragon on the reverse; the initials () of the designer, Benedetto Pistrucci, are visible to the right of the date. The coin was named after the English gold sovereign, which was last minted about 1603, and originated as part of the Great Recoinage of 1816. Many in Parliament believed a one-pound coin should be issued rather than the 21-shilling guinea that was struck until that time. The Master of the Mint, William Wellesley Pole had Pistrucci design the new coin; his depiction was also used for other go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Tender
Legal tender is a form of money that courts of law are required to recognize as satisfactory payment for any monetary debt. Each jurisdiction determines what is legal tender, but essentially it is anything which when offered ("tendered") in payment of a debt extinguishes the debt. There is no obligation on the creditor to accept the tendered payment, but the act of tendering the payment in legal tender discharges the debt. Some jurisdictions allow contract law to overrule the status of legal tender, allowing (for example) merchants to specify that they will not accept cash payments. Coins and banknotes are usually defined as legal tender in many countries, but personal cheques, credit cards, and similar non-cash methods of payment are usually not. Some jurisdictions may include a specific foreign currency as legal tender, at times as its exclusive legal tender or concurrently with its domestic currency. Some jurisdictions may forbid or restrict payment made by other than legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Metals
The coinage metals comprise, at a minimum, those metallic chemical elements which have historically been used as components in alloys used to mint coins. The term is not perfectly defined, however, since a number of metals have been used to make "demonstration coins" which have never been used to make monetized coins for any nation-state, but could be. Some of these elements would make excellent coins in theory (for example, zirconium), but their status as coin metals is not clear. In general, because of problems caused when coin metals are intrinsically valuable as commodities, there has been a trend in the 21st century toward use of coinage metals of only the least exotic and expensive types. History Historically, most coinage metals (or alloys) are from the three nonradioactive members of group 11 of the periodic table: copper, silver and gold, the copper usually being augmented with tin and often other metals to form bronze. Gold, silver and bronze or copper were the coinag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Gold Maple Leaf
The Canadian Gold Maple Leaf (GML) is a gold bullion coin that is issued annually by the Government of Canada. It is produced by the Royal Canadian Mint. The Gold Maple Leaf is legal tender with a face value of 50 Canadian dollars. The market value of the metal varies, depending on the spot price of gold. Having a .9999 millesimal fineness (24 carats), in some cases .99999, the coin is among the purest official bullion coins worldwide. The standard version has a weight of minimum 1 troy ounce (31.10 grams). Other sizes and denominations include 1 gram, ($0.50), ($1), ($5), ($10), and ($20). The Gold Maple Leaf's obverse and reverse display, respectively, the profile of Queen Elizabeth II of Canada and the Canadian Maple Leaf. In 2013 and 2015, new security features were introduced. In 2013, a laser-micro-engraved textured maple leaf was added on a small area of the reverse (Maple Leaf) side of the coin. In the centre of this mark is the numeral denoting the coin's year ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gresham's Law
In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation. The law was named in 1860 by economist Henry Dunning Macleod after Sir Thomas Gresham (1519–1579), an English financier during the Tudor dynasty. Gresham had urged Queen Elizabeth to restore confidence in then-debased English currency. The concept was thoroughly defined in medieval Europe by Nicolaus Copernicus and known centuries earlier in classical Antiquity, the Middle East and China. "Good money" and "bad money" Under Gresham's Law, "good money" is money that shows little difference between its nominal value (the face value of the coin) and its commodity value (the value of the metal of which it is made, often precious metals, nickel, or copper). In the absence of legal-tende ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mint (facility)
A mint is an industrial facility which manufactures coins that can be used as currency. The history of mints correlates closely with the history of coins. In the beginning, hammered coinage or cast coinage were the chief means of coin minting, with resulting production runs numbering as little as the hundreds or thousands. In modern mints, coin dies are manufactured in large numbers and planchets are made into milled coins by the billions. With the mass production of currency, the production cost is weighed when minting coins. For example, it costs the United States Mint much less than 25 cents to make a quarter (a 25 cent coin), and the difference in production cost and face value (called seigniorage) helps fund the minting body. Conversely, a U.S. penny ($0.01) cost $0.015 to make in 2016. History The first minted coins The earliest metallic money did not consist of coins, but of unminted metal in the form of rings and other ornaments or of weapons, which were used for th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts, such as taxes, in a particular country or socio-economic context. The primary functions which distinguish money are as a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Money was historically an emergent market phenomenon that possess intrinsic value as a commodity; nearly all contemporary money systems are based on unbacked fiat money without use value. Its value is consequently derived by social convention, having been declared by a government or regulatory entity to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private", in the case of the United States dollar. Contexts which erode public confidence, such as the circulation of counterfeit money or domestic hyperinflation, can cause good money to lose its value. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Obverse And Reverse
Obverse and its opposite, reverse, refer to the two flat faces of coins and some other two-sided objects, including paper money, flags, seals, medals, drawings, old master prints and other works of art, and printed fabrics. In this usage, ''obverse'' means the front face of the object and ''reverse'' means the back face. The obverse of a coin is commonly called ''heads'', because it often depicts the head of a prominent person, and the reverse ''tails''. In numismatics, the abbreviation ''obv.'' is used for ''obverse'',David Sear. ''Greek Imperial Coins and Their Values.'' Spink Books, 1982. p. xxxv. while ℞, )(Jonathan Edwards. ''Catalogue of the Greek and Roman Coins in the Numismatic Collection of Yale College, Volume 2.'' Tuttle, Morehouse & Taylor, 1880. p. 228. and rev.Allen G. Berman. ''Warman's Coins And Paper Money: Identification and Price Guide.'' Penguin, 2008. are used for reverse. In fields of scholarship outside numismatics, the term ''front'' is more com ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Gold Eagle
The American Gold Eagle is an official gold bullion coin of the United States. Authorized under the Gold Bullion Coin Act of 1985, it was first released by the United States Mint in 1986. Because the term "eagle" also is the official United States designation for pre-1933 ten dollars gold coins, the weight of the bullion coin is typically used when describing American Gold Eagles (e.g., "1/2-ounce American Gold Eagle") to avoid confusion. This is particularly true with the 1/4-oz American Gold Eagle, which has a marked face value of ten dollars. Details Offered in 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz denominations, these coins are guaranteed by the U.S. government to contain the stated amount of actual gold weight in troy ounces. By law, the gold must come from sources in the United States, alloyed with silver and copper to produce a more wear-resistant coin. In addition, sales of these and other specie coins from the US Mint are mandated, at least in part, to pay off the n ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banknote
A banknote—also called a bill (North American English), paper money, or simply a note—is a type of negotiable instrument, negotiable promissory note, made by a bank or other licensed authority, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to Redemption value, redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks or monetary authority, monetary authorities. National banknotes are often – but not always – legal tender, meaning that courts of law are required to recognize them as satisfactory payment of money debts. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment. This p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental ( native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides). Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Krugerrand
The Krugerrand (; ) is a South African coin, first minted on 3 July 1967 to help market South African gold and produced by Rand Refinery and the South African Mint. The name is a compound of ''Paul Kruger'', the former President of the South African Republic (depicted on the obverse), and ''rand'', the South African unit of currency. On the reverse side of the Krugerrand is a pronking springbok, South Africa's national animal. By 1980 the Krugerrand accounted for more than 90% of the global gold coin market and was the number one choice for investors buying gold. However, during the 1980s and 1990s, Krugerrands fell out of favor as some western countries forbade import of the Krugerrand because of its association with the apartheid government of South Africa.Bob Secter (02 Oct 1985Reagan Bans Imports of S. Africa Krugerrand The Los Angeles Times, accessed 28 June 2018 Although gold Krugerrand coins have no face value, they are considered legal tender in South Africa by the Sou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
