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Legendary First Dollar of America to be Auctioned

2018-07-17 17:48:00

When Spanish King Carlos I established the viceroyalty of New Spain in 1535, high on his agenda was building a facility to process and coin the huge amount of silver flowing into the royal coffers. Established by royal charter in in 1536, the Mexico City mint struck the first 8-real silver coins in 1538 but discontinued them after only a handful were made due to the cost and difficulty of production. These “pieces of eight,” as they became known were also called Spanish dollars and became the basis for US currency 250 years later.

One of only three known surviving 1538 8-real coins from a 1550s shipwreck, an About Uncirculated (AU-50) specimen will be offered by Heritage Auctions in Philadelphia on the evening of August 17. Heritage Auctions estimates it will sell for $500,000-$800,000, possibly breaking the previous record of half a million dollars for the Spanish colonial coin.

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US Mint History: The Dalles, The Mint that Never Was

2018-07-15 14:00:00

When people hear the term “gold rush,” they immediately think of California and the Forty-niners. That was the largest and certainly the most publicized, but it was far from the only gold rush in the US. The first was in North Carolina in 1802, followed shortly by a rush to the Blue Mountains of Georgia. On the heels of California, there was the Pike’s Peak Gold Rush in 1859 and rushes in Idaho and western Oregon in 1860, among others.

To satisfy the demand for coining the newly discovered gold and silver, branch mints were established in Charlotte, NC, Dahlonega, GA (both closed at the start of the Civil War and never reopened), San Francisco in 1854, Carson City, NV in 1870…and in 1864, The Dalles, Oregon.

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Notorious Counterfeiters-Part 9 - Itzhak Loz and the Russian-Israeli Millions

2018-07-01 21:14:28

In recent years, the best US counterfeits have been made overseas and smuggled into the country or used in foreign transactions. Some, known as “supernotes,” are printed by hostile foreign governments, notably North Korea, where the operation is officially sanctioned and funded.

But excellent quality notes have also been made in places like Pakistan, the Middle East, and Colombia where counterfeiters can operate with relative impunity. Such was the case around the turn of the 21st century when an Israeli man, Itzhak Loz, and his partners started a counterfeiting ring that would last for fourteen years and dump an estimated $70 million bogus $50 and $100 US notes into circulation, many of which are still out there.

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Notorious Counterfeiters-Part 8-Stephen Jory and the Sweet Smell of Money

2018-06-17 14:00:00

People come to counterfeiting money in many ways, but none more unusual than the path taken by Englishman Stephen Jory. After a prison term for making and selling bogus designer perfumes, Jory turned his attention to printing funny money.

He was so good at it that he became the most successful counterfeiter in British history and caused the Bank of England to redesign its banknotes.

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