Researchers at McMaster University in Hamilton have launched a research project in which nuclear radiation is used to identify changes in metal content among ancient Greek and Roman coins held in a world-class collection amassed at the university since the 1940s.

By probing the metal content of coins exchanged thousands of years ago in Mediterranean Europe, the scientists have discovered a new way to map ancient trade patterns, to retrace economic ups and downs at the dawn of Western Civilization and even to shed new light on the collapse of the Roman Empire.

“As we determine what the coins are made of, we are then able to reconstruct ancient trade routes, understand the development of economies and even determine the extent of counterfeiting,” McMaster archeologist Dr.Spencer Pope states in a project summary issued Tuesday. “This research will help us link the archeological to the historical to understand how we, as a society, got to where we are today.”

A joint project between the university’s classics department and its department of medical physics and applied radiation sciences, the ancient coin initiative involves x-ray analysis and a “proton microprobe” to determine how much silver, bronze or gold is contained in each piece of money.

“We use multiple systems to look for a number of metals — gold, copper, silver — present in the outer layer of the coins,” said radiation scientist Michael Farquharson. “Then we use the McMaster Nuclear Reactor to penetrate deeper into the coin to determine whether or not the coin was plated with a different material than it was actually made of.”

“For the Roman period, there are many crises that can be recognized in the numismatic record,” said Pope, describing one “budget crunch” during Punic Wars of the 3rd century B.C., when Rome was battling Carthage — centred in present-day Tunisia — for control of the Mediterranean world.

“We can see metal coins begin to have more base metal — junk metal — added to ‘debase’ the coins,” he noted. “As Rome and other cities fall into crises and get into economic trouble, more bronze coins appear (rather than silver), and even these are diluted by tin or lead.” So far, about 20 coins have undergone this “deep probe”. (more…)

America the Beautiful Silver Bullion Coins Halted
Coin Update News
The Federal Reserve Bank of Kansas City says it will open a Bowing to consumer concerns about the excessive premiums being charged for the America the Beautiful Silver Bullion Coins, the United States Mint will delay the launch of the program. No orders placed by the primary distributors have been confirmed, while the Mint attempts to determine the appropriate course of action to best serve customers. The new silver bullion program was expected to launch today. The coins would feature the designs of the America the Beautiful Quarters, stuck in 5 ounces of .999 fine silver.
[ Read Full Article]

Hobby Gifts Are Always a Good Fit
Numismaster
As I write this column, the store displays in Wausau, Wis., are interesting, advertising for Halloween, Thanksgiving and Christmas—all at the same time. I guess that is an indicator of how bad the retail economy is. The paper money hobby, however, seems to be in decent shape. For my part, I think prices are just about right, room for a profit for the dealer and affordable for the collector. We will continue to see big prices on finest know or super scarce notes, but the majority of large-size type notes remain affordable for the serious collector.
[ Read Full Article]

The Tsarina returns: A coin collection from Russian royalty comes back to auction
Paul Fraser Collectibles
Bonhams’ sale will be led by an Alexander II gold coin which could easily bring $100,000. Tomorrow, December 8, Bonhams is presenting their auction of the Tsarina Collection of Russian Gold Coins and Medals as part of their 530 piece Coins and Banknotes sale. Comprised of just under 100 items, this private collection has been off the market for many years with several of the coins and medals never having been offered at public auction at all.
[ Read Full Article]

Low mintages to create new modern rarities
The Rare Coin Market Report
The U.S. Mint’s Dec. 1 announcement that it is placing tighter than expected mintage limits on the new 2010 America the Beautiful 5-ounce .999 fine silver bullion quarter dollars may result in the creation of some new modern rarities. The large (3 inches in diameter) and undoubtedly impressive coins will surely be in hot demand, especially with such limited supplies.
[ Read Full Article]

Ancient Coins Stolen From Germany
The E-Sylum
At the Museum Schloss Hohentübingen, Tübingen (Germany, Baden-Württemberg), 44 antique coins were stolen from a showcase in the public exhibition room. The theft was reported to the local criminal investigation department on Wednesday November 24. The delinquent(s) are still unknown. The stolen pieces include Hellenistic and Roman imperial coins. Obviously, the thieves were especially interested in gold coins, for they took 37 staters, aurei and solidi, furthermore 5 coins of silver and 2 of bronze.
[ Read Full Article]

Peace pipe chosen
Numismatic News
A ceremonial peace pipe will grace the reverse of the 2011 Native American $1 coin. Both the Commission of Fine Arts and Citizens Coinage Advisory Com-mittee had endorsed the design earlier this year. Its selection was announced Nov. 26 by the United States Mint. The theme for the design is “Supreme Sachem Ousamequin, Massasoit of the Great Wampanoag Nation Creates Alliance with Settlers at Plymouth Bay (1621).”
[ Read Full Article]

Federal Reserve to Open Denver Money Museum
The E-Sylum
The Federal Reserve Bank of Kansas City says it will open a “Money Museum” and conference center at its Denver Branch next month. The new features are part of extensive renovation to the first floor of the Denver Branch, at 1020 16th St. in downtown Denver. The 7,000-square-foot Money Museum “will offer visitors a unique look at the nation’s central bank in action,” the Fed said in a statement. “Visitors can learn more about the Federal Reserve through interactive exhibits that explore an efficient payment system, a safe and sound banking system, and how monetary policy provides for a stable economy.”
[ Read Full Article]

2010 Silver Eagle Coins Make History in November
Silver Coins Today
November was a history making month for 2010 Silver Eagle coins. The bullion version broke three records during the month and the numismatic proof version debuted with exceptional three-day sales. The 2010 Silver Eagle bullion continues to add to its all-time annual sales and mintage records, but the last of the three records — how many were sold in November — is now official history.
[ Read Full Article]

The Famed “Comet” 1807 Large Cent
Stack’s
In our upcoming January 26-27, 2011 Americana Auction there is a magnificent 1807 S-271 large cent, the famed “Comet” variety of that year, so named for the comet-like die sinking behind Liberty’s head. This particular specimen is from the Bement, Beckwith, Gies and Hogan Pond collections and is one of just two examples that have earned an MS-65 Red and Brown grade from PCGS.
[ Read Full Article]

Coin Modernization Bill Passes Senate
Coin Update News
The bill H.R. 6162 Coin Modernization, Oversight, and Continuity Act of 2010 passed in the Senate on November 30, 2010. This was the same day that a separate coin related bill authorizing palladium bullion coins was also passed in the Senate. In order to become law, both bills now only await the President’s signature.
[ Read Full Article]

Build Partial Set of Large Cents
Numismaster
To specialize in large cents is a task that intimidates many a collector. One glance at the scope of this series, from 1793-1857, shows you what a challenge you have ahead. The rarities in the set can stop a determined collector. Although all large cents were struck at Philadelphia, and you won’t have to worry about mintmarks, the collecting of large cents can keep a collector busy, searching, and studying for many years, even with a hefty collecting budget.
[ Read Full Article]

ANA backs WWI commem
Numismatic News
A World War I commemorative dollar to be struck by the U.S. Mint in 2017 won the support of the American Numismatic Association board of governors. Rod Gillis, ANA numismatic educator, asked for the board’s support noting that commemorative coins honor veterans of the Civil War, World War II, the Korean War and the Vietnam War, but no coinage exists to honor World War I soldiers. The board took action when it met Nov. 30 via conference call.
[ Read Full Article]