The Castine Hoard is the name given to identify a treasure trove of 500 -2,000 North American colonial coins that were found in Castine, Maine. The coins were from countries, and were buried sometime in the late 1600s. In the early 1840s the coins were discovered on a farm owned by the Grindle family, the coins were thought to have been a secret stash belonging to Baron Jean-Vincent dAbbadie de Saint-Castin. Jean Vincent moved from France to the new world becoming a battalion leader, Jean eventually fell in love with the trading post of Pentagoet, and moved there once his army duties had been complete. While in Pentagoet he became more friendly with the Indians. Jean married the daughter of chief, and they had a daughter. In 1704, British forces led by Major Church stormed and captured the village of Pentagoet, fearing the British would discover her fathers stash Jeans daughter re-hid, and buried the coins in a safer spot. Within an hour though she was captured, and never returned to take the money for her-self, Baron Jean Vincent who was away on family business died in France a few days after his daughters capture.
The coins were discovered in 1840 by Captain Stephen Grindle and his son Samuel who unearthed the coins on their farm located near the Bagaduce River. Between 1840 and 1841 hundreds of coins were unearthed, no record exists of a total figure, and Louis XIV. and bore various dates, from 1642 to 1682. The coin hoard was found to contain coins from Spain. Also found were Pine tree shillings dating from 1652, as well as coins from other different countries. The earliest coin found was from the reign of King John IV, the coins were dispersed over time after their discovery, and by 1942 the Maine Historical Society had 26 of the coins remaining. More coins are thought to exist, but none have since been found
A banknote is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand. Banknotes were originally issued by banks, who were legally required to redeem the notes for legal tender when presented to the chief cashier of the originating bank. These commercial banknotes only traded at face value in the served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central banks, national banknotes are generally legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation. Historically, banks sought to ensure that they could always pay customers in coins when they presented banknotes for payment and this practice of backing notes with something of substance is the basis for the history of central banks backing their currencies in gold or silver. Today, most national currencies have no backing in precious metals or commodities and have value only by fiat, with the exception of non-circulating high-value or precious metal issues, coins are used for lower valued monetary units, while banknotes are used for higher values.
The idea of using a durable light-weight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, the first known banknote was first developed in China during the Tang and Song dynasties, starting in the 7th century. Its roots were in merchant receipts of deposit during the Tang Dynasty, as merchants, during the Yuan Dynasty, banknotes were adopted by the Mongol Empire. In Europe, the concept of banknotes was first introduced during the 13th century by such as Marco Polo. Counterfeiting, the forgery of banknotes, is an inherent challenge in issuing currency and it is countered by anticounterfeiting measures in the printing of banknotes. Fighting the counterfeiting of banknotes and cheques has been a driver of security printing methods development in recent centuries. Paper currency first developed in the Tang Dynasty China during the 7th century, although true paper money did not appear until the 11th century, the usage of paper currency spread throughout the Mongol Empire.
European explorers like Marco Polo introduced the concept in Europe during the 13th century, napoleon issued paper banknotes in the early 1800s. Paper money originated in two forms, which are receipts for value held on account, and bills, the perception of banknotes as money has evolved over time. Originally, money was based on precious metals, Banknotes were seen as essentially an I. O. U. or promissory note, a promise to pay someone in precious metal on presentation. With the gradual removal of precious metals from the system, banknotes evolved to represent credit money. Notes or bills were referred to in 18th century novels and were often a key part of the plot such as a note drawn by Lord X for £100 which becomes due in 3 months time. Its roots were in merchant receipts of deposit during the Tang Dynasty, as merchants, before the use of paper, the Chinese used coins that were circular, with a rectangular hole in the middle
Ancient Chinese coinage
Ancient Chinese coinage includes some of the earliest known coins. These coins, used as early as the Spring and Autumn period, the Spring and Autumn period saw the introduction of the first metal coins, they were not initially round, instead being either knife shaped or spade shaped. Round metal coins with a round, and later square hole in the center were first introduced around 350 BCE, the beginning of the Qin Dynasty, the first dynasty to unify China, saw the introduction of a standardised coinage for the whole Empire. Subsequent dynasties produced variations on these round coins throughout the imperial period, ancient Chinese coins are markedly different from coins produced in the west. Chinese coins were manufactured by being cast in molds, whereas western coins were cut and hammered or, in times. Chinese coins were made from mixtures of metals such copper and lead, from bronze, brass or iron, precious metals like gold. The ratios and purity of the coin metals varied considerably, most Chinese coins were produced with a square hole in the middle.
This was used to allow collections of coins to be threaded on a rod so that the rough edges could be filed smooth. Official coin production was not always centralised, but could be spread over many mint locations throughout the country, aside from officially produced coins, private coining was common during many stages of history. Various steps were taken over time to try to combat the private coining and limit its effects, at other times private coining was tolerated. The coins varied in value throughout the history, some coins were produced in very large numbers – during the Western Han, an average of 220 million coins a year were produced. Other coins were of limited circulation and are extremely rare – only six examples of Da Quan Wu Qian from the Eastern Wu Dynasty are known to exist. Occasionally, large hoards of coins have been uncovered, the earliest coinage of China was described by Sima Qian, the great historian of c. While nothing is known about the use of shells as money, gold. They are not found in hoards, and the probability is that all these are in fact funerary items.
Archaeological evidence shows that the earliest use of the spade and knife money was in the Spring, as in ancient Greece, socio-economic conditions at the time were favourable to the adoption of coinage. Inscriptions and archaeological evidence shows that cowrie shells were regarded as important objects of value in the Shang Dynasty, in the Zhou period, they are frequently referred to as gifts or rewards from kings and nobles to their subjects. Later imitations in bone, stone or bronze were used as money in some instances
There are two kinds of coin boards. The first kind, known as a board, is a variation on pull-tab games. A game board of this type comes with a registered package of pull-tab tickets, a signers card. When a ticket is sold, the opens the ticket to reveal its hidden numbers. If a number on the ticket matches a number on the board, the player wins a prize and/or a chance at one or more seal prizes. The game board displays the numbers along with the prizes. Some of the winners receive instant cash only, while some of the winning numbers match numbers on coins, when a player opens a ticket containing one of these numbers, the game manager removes the coin or panel and gives it to the player. When the coin or panel is removed, a prize is revealed that may consist of instant cash, instant cash or merchandise winnings are given to the player immediately by the manager. If a player wins a chance at a prize, that players name is added to the signers card. When the game ends—all the tickets sell out, or all the prizes are won—the manager opens the seals on the board to reveal the winning numbers.
The players whose names appear next to the numbers on the signers card win a seal prize. The seal prizes are usually the most valuable prizes, united States collector coins are embedded in most coin boards sold in the US. Sometimes they are visible, and sometimes they are hidden behind panels, Coin boards contain only coin and cash prizes. Merchandise boards contain coins, but some or all of the prizes consist of rather than cash. The pay-out slip that is provided with each board lists the number of winners. This information may be used for accounting purposes and to verify that the game complies with local gaming regulations. The second kind of board, known as a coin collecting board, is one intended for collectors of coins to assemble a complete set of dates. It consists of a strip of cardboard, typically measuring 11 inches wide by 14 inches tall, a face paper having the same hole pattern carries the appropriate text and graphics
William Leslie Bowles
William Leslie Bowles *26 February 1885 at Leichhardt, Australia) was an Australian sculptor and medallist. He died on 21 February 1954 at Frankston, Victoria) and he started at Kangaroo Point State School, Brisbane. After studying at the Brisbane Technical College Leslie-Bowles won 1910 a scholarship for studies in Great Britain, there he met other sculptors like Sir Bertram Mackennal, and he was a student at the Royal Academy. Bowles was a soldier in the First World War and he lived in England until his marriage with Mary Lees of Kelso in 1924. Then they lived in Prahran, Melbourne and he was survived by his wife. He started work in Mackennals studio, after the war he worked and exhibited in England. Later in the Twenties in Australia, William Leslie Bowles was employed at Melbourne Exhibition Building on the Australian War Memorial, in 1926 he had become a member of the Royal Society of British Sculptors. He became mainly connected with the design of large monuments, nevertheless he was invited to design Australian coins
The Charlotte Medal is a silver medallion 74 millimetres wide, depicting the voyage of the Charlotte, with the First Fleet, to Botany Bay, Australia. Its obverse depicts a scene of the ship and its reverse is inscribed with a description of the journey, the medal is said to be the first work of Australian colonial art. During the journey the Charlotte visited Rio de Janeiro, whilst at anchor, one of the ships convicts, a forger and mutineer by the name of Thomas Barrett was caught giving locals fake coins made from buckles and spoons. The Surgeon-general of the Fleet, John White was impressed with his skill in making these forgeries and this led him to commission Barrett to make the medal, to commemorate the journey, possibly from the surgeons silver kidney dish. It is created in the style of a Touch piece, the obverse of the medal depicts the Charlotte at anchor at night in Botany Bay. The inscription reads The Charlotte at anchor in Botany Bay Jany th.20.1788 The reverse of the medal is inscribed with a journal of the voyage.
It reads Sailed the Charlotte of London from Spit head the 13 of May 1787.00 South Long 151.00 East distance from great Britan Miles 13106 It is unknown who owned the medal after White. In 1919 it was sold via Sotheby, Wilkinson & Hodge to a British numismatist, in 1967 it was sold to an American numismatist, John J Ford. In 1981 it was sold to a Melbourne dentist, Dr John Chapman, Dr Chapman donated a medal containing a reproduction of the Charlotte Medal to Museum Victoria to mark its bicentennial, in 1988. The final price was $873,750, with $200,000 of NCH funding This makes it possible that, despite its age, a smaller copper medallion, with a diameter of 47 millimetres, was created at the same time. The medal was made for Whites personal servant, William Broughton and omits the ship scene, the medallion was uncovered during house restoration in the early 1940s. It has been suggested that this medal should rank as equal in rarity and significance as its silver counterpart
The main functions of money are distinguished as, a medium of exchange, a unit of account, a store of value, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money, Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender, the money supply of a country consists of currency and, depending on the particular definition used, one or more types of bank money. Bank money, which consists only of records, forms by far the largest part of money in developed countries. The word money is believed to originate from a temple of Juno, in the ancient world Juno was often associated with money. The temple of Juno Moneta at Rome was the place where the mint of Ancient Rome was located, the name Juno may derive from the Etruscan goddess Uni and Moneta either from the Latin word monere or the Greek word moneres.
In the Western world, a prevalent term for coin-money has been specie, stemming from Latin in specie, meaning in kind. The use of methods may date back to at least 100,000 years ago. Instead, non-monetary societies operated largely along the principles of gift economy, when barter did in fact occur, it was usually between either complete strangers or potential enemies. Many cultures around the world eventually developed the use of commodity money, the Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley. The first usage of the came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia and Australia used shell money – often, according to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by scholars that these first stamped coins were minted around 650–600 BC. The system of commodity money eventually evolved into a system of representative money and this occurred because gold and silver merchants or banks would issue receipts to their depositors – redeemable for the commodity money deposited.
Eventually, these became generally accepted as a means of payment and were used as money. Paper money or banknotes were first used in China during the Song Dynasty and these banknotes, known as jiaozi, evolved from promissory notes that had been used since the 7th century. However, they did not displace commodity money, and were used alongside coins, in the 13th century, paper money became known in Europe through the accounts of travelers, such as Marco Polo and William of Rubruck
British Museum Department of Coins and Medals
The collection spans the history of coinage from its origins in the 7th century BC to the present day, and is representative of both Eastern and Western numismatic traditions. Numismatics constituted an important part of the 1753 bequest of Sir Hans Sloane which formed the British Museums original collection, the collection was incorporated into the Department of Antiquities in 1807, before the establishment of a separate Coins and Medals department in 1860-1. As in other parts of the museum, the department has been able to expand its collection by purchase, the department has benefited from the munificence of collectors such as Clayton Mordaunt Cracherode, Sarah Banks, Edward Hawkins, Sir Alexander Cunningham and George Bleazby. A significant strength of the collection are British coins from all ages and this has enabled the museum to purchase important hoards of gold and silver coins, many of which were buried during periods of crisis or upheaval. There are approximately 9,000 coins and banknotes on display around the British Museum, more than half of these can be found in the Citi Money Gallery, while the remainder form part of the permanent displays throughout the museum.
Items from the collection can be seen by the general public in the Study Room by appointment. The department celebrated its 150th anniversary in 2011
A cheque or check is a document that orders a bank to pay a specific amount of money from a persons account to the person in whose name the cheque has been issued. The person writing the cheque, the drawer, has a banking account where their money is held. Cheques are a type of bill of exchange and were developed as a way to make payments without the need to carry large amounts of money, both the drawer and payee may be natural persons or legal entities. Cheques are order instruments, and are not in general payable simply to the bearer as bearer instruments are, in some countries, such as the US, the payee may endorse the cheque, allowing them to specify a third party to whom it should be paid. By the second half of the 20th century, as cheque processing became automated, billions of cheques were issued annually, since cheque usage has fallen, being partly replaced by electronic payment systems. In an increasing number of countries cheques have either become a marginal payment system or have been phased out.
The spellings check and cheque were used interchangeably from the 17th century until the 20th century, in American English, the usual spelling for both is check. The cheque had its origins in the ancient banking system, in which bankers would issue orders at the request of their customers, such an order was referred to as a bill of exchange. The use of bills of exchange facilitated trade by eliminating the need for merchants to carry large quantities of currency to purchase goods, the ancient Romans are believed to have used an early form of cheque known as praescriptiones in the 1st century BC. Muslim traders are known to have used the cheque or ṣakk system since the time of Harun al-Rashid of the Abbasid Caliphate, transporting a paper saqq was more secure than transporting money. In the 9th century, a merchant in country A could cash a saqq drawn on his bank in country B. In the 13th century in Venice the bill of exchange was developed as a device to allow international trade without the need to carry large amounts of gold.
Their use subsequently spread to other European countries, in the early 1500s in the Dutch Republic, to protect large accumulations of cash, people began depositing their money with cashiers. These cashiers held the money for a fee, competition drove cashiers to offer additional services including paying money to any person bearing a written order from a depositor to do so. They kept the note as proof of payment and this concept went on to spread to England and elsewhere. By the 17th century, bills of exchange were being used for payments in England. Cheques, a type of bill of exchange, began to evolve, initially they were called drawn notes, because they enabled a customer to draw on the funds that he or she had in the account with a bank and required immediate payment. These were handwritten, and one of the earliest known still to be in existence was drawn on Messrs Morris and Clayton and bankers based in the City of London, in 1717, the Bank of England pioneered the first use of a pre-printed form
American Arts Commemorative Series medallions
American Arts Commemorative Series medallions are a series of ten gold bullion medallions that were produced by the United States Mint from 1980 to 1984. They were sold to compete with the South African Krugerrand and other bullion coins, the series was proposed by North Carolina senator Jesse Helms after the United States Department of the Treasury began selling portions of the national stockpile of gold. Iowa Representative Jim Leach suggested that the medallions depict notable American artists, President Jimmy Carter signed the bill containing the authorizing legislation into law on November 10,1978, despite objections from Treasury officials. The medallions were sold through mail order, purchasers were required to obtain the days price by telephone before ordering. Later, the Mint sold them through telemarketing, mintage ceased after the ten different medallions approved by Congress were produced. All were struck at the West Point Bullion Depository, the series sold poorly, prompting critics to blame the involved process by which they were first marketed, and the fact that they were medallions rather than coins.
For reasons of bookkeeping, a bar was set as the minimum purchase. On the day of the Treasury announcement, Helms introduced the Gold Medallion Act of 1978. 1.6 million troy ounces of gold had been imported into the United States in the form of Krugerrands in 1977 alone.5 million ounces of gold sold be made into medallions. Under the stepped-up rate of sales, that is only two months worth of gold. The amount is equal to last years importation of foreign bullion coins. The reverse of the piece would be the Great Seal of the United States and the words United States of America, the half-ounce medallion would have on one side some representation of the rights of individuals and the words Human Rights, and One-half ounce fine gold. The reverse would be similar to the side of the Freedom medallion. Support for the medallions grew in Congress, prompting the introdiction of more legislation, iowa representative Jim Leach proposed that the series feature designs honoring American artists. During the Committee on Banking and Urban Affairs hearing and he noted that the House Subcommittee on Historic Preservation received many suggestions of individuals worthy to appear on the dollar coin that had previously been proposed.
He noted that all United States coinage until had depicted individuals whose principal contributions had been in government, though the program received widespread support in Congress, Treasury officials opposed it. Despite these objections, the bill was attached to the omnibus bill. The Treasury lacked money to put the medallions into production, so an appropriations bill was passed giving the department the necessary funding, the GSA was tasked with determining how best to market the new issues
In the study of numismatics, token coins or trade tokens are coin-like objects used instead of coins. The field of tokens is part of exonumia and token coins are token money, Tokens either have a denomination shown or implied by size, color or shape. Tokens are often made of metals, pewter, aluminium and tin were commonly used, while bakelite, porcelain. In the case of currency issued by a company but recognized by the state there is a convergence between tokens and currency. In their purest form, currency tokens issued by a crossed the boundary of merely being trade tokens when they were sanctioned by the local government authority. This was sometimes a measure resulting from a shortage of money or the governments inability to issue its own coinage. In effect, the organization behind the tokens became the regional bank, a classic example of this is the Strachan and Co trade tokens of East Griqualand in South Africa which were used as currency by the indigenous people in the region from 1874.
Their initial success resulted from the scarcity of small change in this region from that time. Similarly, in times of inflation, tokens have sometimes taken on a currency role. An example of this is Italian or Israeli telephone tokens, which were good for the same service even as prices increased. New York City Subway tokens were accepted sometimes in trade, or even in parking meters, coin-like objects from the Roman Empire called spintria have been interpreted as a form of early tokens. Their functions are not known from history, but they appear to have been brothel tokens or possibly gaming tokens. Medieval English monasteries issued tokens to pay for services from outsiders and these tokens circulated in nearby villages where they were called Abbots money. Also, counters called jetons were used as small change without official blessing, the token was in effect a pledge redeemable in goods but not necessarily for currency. These tokens never received official sanction from government but were accepted and circulated quite widely and this shortage was felt more keenly because of the rapid growth of trade in the towns and cities, and this in turn prompted both local authorities and merchants to issue tokens.
These tokens were most commonly made of copper or brass, but pewter, most were not given a specific denomination and were intended to pass as farthings, but there are a large number of halfpenny and sometimes penny tokens. Halfpenny and penny tokens usually, but not always, bear the denomination on their face, most such tokens indicate the name of their issuer, which might either be his or her full name or initials. Where initials were provided, it was practice to provide three—one for the surname