DailyDirt: Cool Coins, Unpopular Coins...

from the urls-we-dig-up dept

While digital forms of payment are becoming increasingly popular, cash probably isn't going away anytime soon, and a lot of people still like to collect coins. For the amateur numismatists out there, here are just a few interesting coin stories.

• New Zealand is minting a series of coins with Hobbit characters on them -- with the most expensive Hobbit coin made of about 28 grams of gold. The coins will be legal tender, but they'll probably be hoarded by Hobbit fans and coins collectors for being preciousss. [url]
• The Royal Canadian Mint has a glow-in-the-dark quarter with a dinosaur on it. Canada killed its penny, but collectible glowing coins apparently have a bright future up north.... [url]
• A 1909 Lincoln penny is on Mars, as part of the Mars Hand Lens Imager (MAHLI) instrument on the Curiosity rover. This penny will serve as a calibration target, and it's probably the most valuable penny in the universe. [url]
• The US GAO recommends replacing dollar bills with dollar coins -- even though dollar coins are a hugely unpopular with people who actually spend American money. The US Treasury had to stop minting a lot of dollar coins last year because it had such a ridiculous surplus of dollar coins that weren't making it into general circulation. If only people would use dollar coins, the government could save a bit of money when it makes money. [url]

If you'd like to read more awesome and interesting stuff, check out this unrelated (but not entirely random!) Techdirt post.

Filed Under: canada, coins, collectors, dinosaurs, dollar coin, glow-in-the-dark, hobbit, mars, new zealand, numismatists, penny

DailyDirt: Coins Worth More Than Gold

from the urls-we-dig-up dept

The US has stopped minting a huge surplus of dollar coins but will continue to make them in just enough quantities to satisfy coin collectors. Interestingly, coin collectors have been bidding on some extremely rare coins lately. Here are just a few examples of some valuable coins out there.

• A penny from 1793 sold at a recent auction for $1.38 million. That's the most a US copper coin has ever sold for at an auction. This coin was especially rare because it was never released into circulation. [url]
• Another coin that never made it into circulation was the 1933 Gold Double Eagle -- which was printed but then retracted when US currency left the gold standard. One of them sold at an auction in 2002 for $7.5 million and continues to hold the record for the most ever paid for a gold coin. [url]
• A rare 1787 gold Brasher doubloon just sold for $7.4 million and just missed breaking the record for the value of a gold coin. It's still worth well more than its weight in gold (26.66 grams ~ $1,500). [url]
• To discover more stuff on economics, check out what's currently floating around the StumbleUpon universe. [url]  

As always, StumbleUpon can also recommend some good Techdirt articles, too.

Filed Under: auction, coins, collectors, dollar, doubloon, gold, mint, penny