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Coin News for May 19, 2010

Korean War 60th Anniversary Coin
New Zealand Mint
25th June 1950 marks the beginning of the Korean War – this coin set has been minted in celebration of the 60th Anniversary of this major conflict. Described at the time as a “police action”, the 3-year conflict involved combatants from 16 nations as well as the United Nations supporting South Korea against North Korea and China with Soviet Union air support. The obverse of the coin features the Raphael Maklouf effigy of Her Majesty Queen Elizabeth II, sovereign of the Commonwealth and Niue. The reverse features an engraved image of a Korean War soldier with the background being selectively coloured to symbolise the Korean Flag. Engraved stars and headings complete this exquisitely crafted coin.
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Young Collectors Deserve Respect
Numismatic News
When I was 13, I attended my first coin show. Since then, I have attended coin shows on the local, regional and national levels and encountered hundreds of coin dealers. As a 16-year-old collector, I have encountered dealer behaviors specifically toward Young Numismatists that deserve commendation and those that need improvement. I will begin with one of the most degrading, discourteous and widespread problems I encounter. I step up to a dealer’s table, examine his stock and find a coin I would like to purchase, a 1934 Washington quarter in MS-60, worth about $20, for example.
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Sri Lanka Replaces Bank Note With Coin
It may be just an observation, but it appears as if the line of nations that are replacing a low denomination bank note with a coin is getting longer almost on a weekly basis. The logic is there. It is typically cost effective to have a coin that may circulate from between 20 and 40 years in use rather than a bank note that may circulate from between six months and perhaps two years. The latest country to announce it is joining this increasingly long line is Sri Lanka, formerly known as Ceylon. According to an announcement appearing April 5 at Lanka Business Online, a nickel-plated 10-rupee coin was to be issued immediately, replacing the bank note of the same denomination currently in circulation. No information was immediately available regarding withdrawal and demonetization of the bank note.
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Uganda Unveils New Banknote Family
Banknote News
On 3 May 2010, Bank of Uganda unveiled a new series of redesigned and smaller banknotes which will go into circulation on 17 May. The new notes are in the existing denominations of 1,000, 5,000, 10,000, and 50,000 shillings, as well as a new denomination: 2,000 shillings (US$0.95). Besides a harmonized banknote design that depict Uganda’s rich historical, natural and cultural heritage, the new notes bear improved security features and are smaller in size than the existing series which will remain legal tender. The common security features for the 1,000-, 2,000-, and 5,000-shilling notes are a watermark, a color-change image, and a raised effect on the surface to help the visually-impaired people differentiate denominations. The notes also feature a windowed thread that changes from red to green when the note is titled. The notes also bear a hidden irridescent pattern.
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Russia Releases Five-Kilo Gold Coin
The Bank of Russia has released a record-heavy coin to celebrate its 150th anniversary. Georgy Luntovsky, deputy chief of the Central Bank of the Russian Federation unveiled the coin worth 50,000 rubles ($1,660) to the general public yesterday. The coin, which is said to become available on June 12th, is made of 999-carat gold. “Originally, we intended to make a coin weighing 150 kilos in connection with our date, but later shelved the idea,” the official joked. The Bank of Russia will release only 50 of such coins. Twenty-five of them have already been made. Mr. Luntovsky added that the interest to special gold coins this year was lower than before. However, the bank expects an increase of interest in its new release after prices on gold started growing again.
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Red Book Philippine Coin Coverage
The E-Sylum
A Red Book reader wrote in this week with a question about the section on Philippines coinage. He was disappointed that in recent years we’ve condensed that section from nine pages to five. This might be something that E-Sylum readers have noticed, as well. I appreciate the correspondent’s enthusiasm for the coins of the Philippines. As he noted, the coins struck by the U.S. Mint for the Philippines, under U.S. sovereignty, are an important part of our nation’s numismatic history. Not only that, but they’re official coins of the United States, struck on North American soil as well as in Manila, and legally exchangeable for U.S. dollars. This is why we list the Philippines coins in the Red Book. Due to space constraints, we’ve had to condense the Philippines section, as noted.
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