It is reported that the Government of China possesses a previously, unknown unique U.S. silver coin! The Chinese Foreign Ministry has not provided all details regarding the supposedly unique piece, but has announced the existence of heretofore unheard of historical documents that relate to U.S. silver dollars from the 1830s.

It is already widely accepted that Proof Sets of U.S. copper, silver and gold coins were produced as diplomatic gifts during 1834 and/or 1835. These sets were prepared under the direct orders of President Andrew Jackson. All the coins included were dated 1834 except the 1804 silver dollar and the 1804 Eagle ($10 gold coin). U.S. Mint officials wrongly believed that there was a need to depict the date of the last year in which coins of these two denominations were actually minted for circulation. (Silver dollars struck in 1804 were dated 1803.)

The famous ‘King of Siam’ Proof set was presented in Thailand by an envoy of the U.S. Government, Edmund Roberts. Siam is the traditional name for Thailand. Another set was given to the Emperor of Oman. Sets were earmarked, though not delivered, to the Emperors of Vietnam and Japan, respectively. Vietnam then had a much different name in English. Oman had a slightly different name.

The Chinese Foreign Ministry now indicates that historical documents demonstrate that the Chinese Emperor, by the middle of 1835, learned that U.S. Proof sets were being brought as gifts to other Asian chiefs of state. The Chinese Emperor knew of all four intended recipients.

Chinese Emperor Xuanzong was born in 1782. He became the ‘Daoguang Emperor‘ in 1820 and ruled until his death in 1850. The Emperor and most ranking Chinese officials were very familiar with silver coins and were often focused on silver in general. Silver was their medium of exchange.

During the 19th century, large quantities of silver flowed into China daily. With so many silver coins arriving continually, as payments for goods and services, thousands of Chinese had access to foreign silver coins and many of them became coin collectors. Only a small percentage of the silver coins that arrived in China came from the United States. Sophisticated Chinese officials often built coin collections by substituting or trading common silver coins for scarce and rare dates that they needed for their respective collections. Essentially, rare coins were available for just their silver bullion content.

In the 1830s, there were many more coin collectors in China than in the United States. Chinese collectors wondered about the existence of an 1804 U.S. silver dollar. It was later to become, and still is, the most famous coin in the United States. Of course, when the Daoguang Emperor (Xuanzong) learned that other Asian Emperors were to receive U.S. 1804 dollars, he was infuriated. (more…)

By Elizabeth Blunt BBC News, Addis Ababa

Twenty-six people are under arrest over the discovery of 90kg (14 stone) of fake gold in the vaults of Ethiopia’s central bank, a senior official says.

The fraud was discovered after some of the supposed gold was sent to South Africa, where it was found to be gold-plated steel. Those held are expected to be charged in the next couple of weeks.

Rumours have been flying around the capital Addis Ababa about what happened to the real gold and who was to blame. Those being held include officials of the national bank, said Berhanu Assefa, a spokesman for Ethiopia’s Ethics and Anti-Corruption Commission. The commission has been investigating the case for three months along with Ethiopian police and intelligence officials.

“Around 26 are under arrest – seven from the national bank of Ethiopia, four from the Ethiopian Geological Survey and 15 businessmen and their collaborators have been arrested,” Mr Assefa said.

“No-one has yet been charged – we expect that… our prosecutor will charge them.”

The value of the missing gold was around 158m Ethiopian birr, or $16m for just one of the missing cases, he said, adding this was a huge amount for a poor country such as Ethiopia.
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NEWPORT BEACH, Calif., — Collectors Universe, Inc.  reported that two of its directors, A. Clinton Allen, Chairman of the Company, and Bruce A. Stevens have completed the requirements for Professional Director Certification from the Corporate Directors Group, which conducts member educational programs accredited by ISS Governance Services.

“Messrs Allen and Stevens’ completion of the Professional Director Certification further demonstrates our strong commitment to upholding sound corporate governance principles,” stated Collectors Universe’s Chief Executive Officer Michael Haynes. “As a matter of policy, we encourage our directors to participate in ISS certified director educational programs such as those offered by the Corporate Directors Group.”

Five other members of the Collectors Universe Board of Directors also are members of the Corporate Directors Group and participate in its ISS certified educational programs. (more…)