With the price of gold at record highs and the U.S. economy on the downslide, it’s no wonder that many investors are setting their sights on gold to hedge against the falling dollar. Many investors think gold bars are the most reliable and cost effective approach to buying gold, but gold coins offer benefits that bars do not because of their smaller denominations and viability as currency.

The first gold coins were made by King Croesus of Lydia in approximately 560 B.C. These coins were not pure gold, but were made from electrum, a natural alloy of silver and gold. When the process later became more refined, coins of pure gold and silver were created. The use of these coins spread to many civilizations, including the Greek and Roman Empires and, later, throughout European countries.

Gold coins typically cost slightly more than their gold content is worth, because a 4 to 8 percent premium is added for minting and distribution. However, coins may make up for this added cost because they are easier to sell and manage and are more widely collected than gold bars. While minted gold bars typically come in weights between 1/10 of an ounce and 20 ounces, coins range from 1/20 of an ounce to one ounce. Read Full Article

A METAL detecting enthusiast has unearthed a Roman coin thought to be one of the oldest ever found in Wales.
Retired butcher Roy Page, 69, of Coedpoeth, found the detailed 2,000-year-old coin on a farm near St Asaph when he went on a search there with the Mold-based Historical Search Society.

Roy handed the tiny silver coin to the Portable Antiquities Scheme, who identified it as dating from the second century BC.

It is believed to have been brought over some time after the Roman invasion of Britain in 43 AD, or during earlier visits in the first century BC.

Roy, who has been metal detecting for five years, said: “The person who held the coin was probably a Roman.

“When he told me I nearly fainted, I was over the moon. I was told by an expert in our group that it could be the oldest coin found in Wales. Read Full Story

Sport of snowboarding featured, sixth in series of 17 special circulation coins

OTTAWA, Feb. 20 /CNW Telbec/ - The Royal Canadian Mint today officially released the first Olympic 25-cent circulation coin of 2008. The sport of snowboarding is depicted on the coin, which is the sixth of 17 circulation coins to celebrate the Vancouver 2010 Olympic and Paralympic Winter Games.

“With two years to go until 2010, the Mint is delighted to be launching its second wave of circulation coins to commemorate the Olympic and Paralympic Winter Games,” said Ian E. Bennett, President and CEO of the Royal Canadian Mint. “Featuring the dynamic and energetic sport of snowboarding is a fantastic way to kick off 2008.”

“The Canadian Snowboard Federation is honoured to have our sport immortalized through the Royal Canadian Mint’s snowboard coin,” said Mr. Tom McIllfaterick, CEO of the Canadian Snowboard Federation. “We are also pleased to be working with the Royal Canadian Mint to help promote the coin launch through our various online and event opportunities.”

Up to 22 million 25-cent snowboarding coins will enter into circulation today and will be available exclusively at RBC and participating Petro-Canada gas stations. RBC is a Premier National Partner and Petro-Canada is a National Partner of the Vancouver 2010 Olympic and Paralympic Winter Games. Canadians can also look for these special coins in their change. Participating Petro-Canada gas stations will also sell snowboarding sport cards, containing a uniquely painted version of the coin. The sport cards, which are now available, sell for $7.95. (more…)

By Stewart Huckaby

The first commemorative quarter the US produced was the Isabella Quarter, issue in 1893 as a part of the Columbian Exposition festivities. While no other quarters are included along with commemorative issues in current catalogs, the Washington Quarter, first issued in 1932 in commemoration of the bicentennial of George Washington’s birth, was originally envisioned as a one year commemorative issue. Little did the powers that be know at the time that modifications of the Washington design would still be in use over 75 years later!

The process that led to the design selection had its own share of intrigue. A design competition in 1931 called for entries based on the bust of Washington by French sculptor Jean Antoine Houdon. Out of a hundred designs submitted, one stood out - a powerful, left-facing bust, designed by Laura Gardin Fraser, the wife of Buffalo nickel designer James Earle Fraser and a renowned sculptor in her own right with several commemorative half dollar designs on her resume.

The Washington Bicentennial Commission unanimously chose Fraser’s design. However, Treasury Secretary Andrew Mellon, whether out of stubbornness, chauvinism, or for other reasons, refused to accept the recommendation, instead choosing a design by John Flanagan. The Commission begged him to relent, and Mellon eventually allowed a second competition, which again was won by Fraser. In the end, Mellon’s wishes prevailed, and the familiar Flanagan design was used. (more…)