Coin of the Week: 1923 US Dollar ("Peace")

Obverse (Image: Liberty)

Reverse (Image: Bald Eagle)

With the passing of Labor Day in the United States, I decided to highlight an American coin this week.

The currency of the United States of America is the US dollar, with 100 cents equaling one dollar. The US dollar was created by the Coinage Act of 1792, but it’s interesting to note that both the Mexican peso and Spanish dollar also remained legal tender until 1857.

The first dollar coin was minted in 1795 and was known as the Flowing Hair Dollar. The Peace dollar was minted from 1921 – 1928 and again in 1934 and 1935. The design of the coin was the result of a competition won by Anthony de Francisci to commemorate the peace following World War I. The obverse depicts a profile of Liberty with a crown similar to the one on the Statue of Liberty. This side of the coin also includes the word “Liberty” and the motto “In God We Trust”, both requirements of the competition.

The reverse of the coin depicts a bald eagle perched on a mountain top, holding an olive branch. Included on the reverse are the denomination, the name of the country and E pluribus unum, with all three also requirements of the competition. In addition, de Francisci included the word “Peace” on this side of the coin. The phrase E pluribus unum is Latin for “out of many, one” and was adopted in 1782 by an Act of Congress.

More information on the Peace dollar can be found in this interview: Interview with Peace dollar historian Roger Burdette. 

 

Coin of the Week: 1949 Norway 1 Krone

Obverse (Image: Crowned Monograms)

Reverse (Image: Cross of the Order of St. Olav Collar)

The currency of the Kingdom of Norway is the krone, with 100 øre equaling 1 krone. The krone was introduced in 1875 when Norway joined the Scandinavian Monetary Union and replaced its previous currency unit, the speciedaler.

The 1949 1 Krone was introduced under the reign of King Haakon VII. The border of the obverse has the statement "Haakon the Seventh, King of Norway". This side also includes the monogram of the king in the form of an "H" combined with a "7". The monogram tradition continues today, with the modern Norwegian 1 krone featuring Harald V's monogram consisting of an "H" and a "5". The reverse depicts the collar of the Cross of the Order of St. Olav, an order of chivalry. The collar consists of the Norwegian coat of arms with the royal crown at the top and the cross itself at the bottom. The reverse also includes King Haakon's royal motto Alt for Norge, or "(Give) all for Norway". Though each king can choose his own personal motto, the two kings that followed Haakon VII (Olav V from 1957 - 1991 and Harald V from 1991 - Present) both decided to continue using the same motto. This may be due to the motto's particularly high standing as one of the symbols of Norway's struggle against German occupation during World War II.

 

 

Coin of the Week: 1901 Uruguay 5 Centesimos

Obverse (Image: Sun with rays)

Reverse (Image: Value within laurel wreath)

The official currency of the Oriental Republic of Uruguay is the Uruguayan peso, with 100 centesimos equalling 1 peso. The peso has been used since European colonization, but has been devaluated twice in the 1900s: once in 1973 with the introduction of the new peso and again in 1993 when the new peso was replaced with the Uruguayan peso.

This 1901 coin was issued during a period when Uruguay had adopted the gold standard, from 1896 - 1935. The 5 centesimos coin features a sun with rays, a popular coin pattern, on the obverse. The sun is the Sun of May, a representation of the Inca sun god Inti. This was a symbol of the 1810 May Revolution when territories like Argentina and Uruguay gained their independence from Spain. The reverse displays the value within a laurel wreath. 

During my research for this coin, I stumbled upon this interesting website: en.numista.com. If you want to connect with other coin collectors in the world, then check it out!

Silly Pop Song: Friends

Was home without the family last week and had some time to goof off. This is for everyone out there who loves just being a "friend". I'll have to make a video sometime soon. Until then, enjoy!

Friends.mp3 Listen on Posterous

Coin of the Week: 1966 Panama 1/4 Balboa

Obverse (Image: Vasco Nunez de Balboa)

 Reverse (Image: Panamanian Coat of Arms)

The currency of the Republic of Panama, along with the US dollar, is the balboa, with 100 centesimos equaling one balboa. The currency is named after the Spanish explorer Vasco Nunez de Balboa and replaced the Colombian peso after Panama gained its independence in November 1903. The balboa has been pegged 1:1 to the US dollar since its introduction.

The obverse of the 1/4 balboa features a portrait of Vasco Nunez de Balboa. Balboa was the first European to cross the Isthmus of Panama to the Pacific Ocean in 1513. He named the ocean "Mar del Sur" (South Sea) since he had traveled south across the Isthmus to the ocean. What I love the most about his portrait is the helmet, called a Morion (see a short description and beautiful example of one here). The morion was a popular helmet in 16th and 17th century Europe because it was inexpensive to produce. The comb on the top of the helmet was designed to strengthen it.

The reverse of the coin displays the Panamanian coat of arms. Below is the official description:

It rests on a green field, symbol of the vegetation; it is of pointed form and it is intervened as far as the division. The center shows the Isthmus with its seas and sky, in which the moon begins to rise above the waves and the sun begins to hide behind the mountain, marking thereby the solemn hour of the declaration of our independence. The head is divided in two quarters: in the one of the right hand, in the silver field, a sword and a gun are hung meant as abandonment for always to the civil wars, causes of our ruin; in the one of the left-hand side, and on field of gules, a crossed shovel and a grub hoe are shown shining, to symbolize the work.

The end of the coat of arms also is divided in two quarters: the one of the right-hand side, in blue field, shows a cornucopia, emblem of the wealth; and the one of the left-hand side, in field of silver, the winged wheel, symbol of the progress. Behind the shield and covering it with his opened wings, is the eagle, emblem of the sovereignty, the head turned towards the left, and takes in the tip a silver tape, which hangs from right to left. On the tape the following motto is printed "Pro Mundi Beneficio".

On the eagle, in arc form, nine gold stars go in representation of the provinces in which the Republic is divided (Note: this is now outdated as there are now also 3 indigenous districts). Like decorative accessories, to each side of the coat of arms two gathered national flags go on the other hand below.

I also found this website with more information on all Panamanian coins: http://www.coins-of-panama.com/coins.html

Coin of the Week: 1976 Japan 50 Yen

Obverse (Image: Chrysanthemum)

Reverse (Value, Year of Minting)

The currency of Japan is the Japanese yen, with 1 yen equalling 100 sen. The yen, meaning "a round object", was adopted in 1871 and replaced the previous and more complex monetary system, Tokugawa coinage. The Japanese yen is the third most traded currency (after the US Dollar and Euro) in the foreign exchange market and is also widely used as a reserve currency.

The design of the 50 yen coin has not changed since 1967. The obverse features a chrysanthemum. It is believed that this flower was first introduced to Japan around the 8th Century. It impressed the Japanese Emperors, who included the flower in their crest, and to this day is regarded as a symbol of the sun. The Japanese consider the way that the chrysanthemum's petals unfold to represent perfection. They celebrate the flower annually during a "chrysanthemum festival" known as the Festival of Happiness.

The reverse of the coin features the value and year of minting. The year of minting uses a Japanese era calendar scheme. The four eras (an era is called nengo) since the introduction of the Japanese yen are the Meiji (from 1868 - 1912), the Taisho (from 1912 - 1926), the Showa (from 1926 - 1989) and the Heisei (from 1989 - present). The year shown on the coin is the year number within a particular era. For example, this 50 yen coin was minted in the year 51 of the Showa era. Japanese era names are not only used on coins but usually required on official government documents as well.

Coin of the Week: 1971 Indonesia 50 Rupiah

Obverse (Coin Denomination)

Reverse (Image: Greater Bird of Paradise)

The currency of the Republic of Indonesia is the rupiah. The rupiah is divided into 100 sen, although inflation has made all coins and banknotes denominated in sen obsolete. The rupiah was first introduced in 1946, replacing the Japanese gulden that had been introduced during their occupation of the Indonesian islands in the Second World War. However, the rupiah still competed with the Dutch NICA (Netherlands Indies Civil Administration) gulden and other forms of currency until Indonesia's independence was recognized in 1949 and the Bank of Indonesia was established at the end of 1951. More about the various forms of currency during Indonesia's colonial and occupational periods can be found here.

Coins were first introduced in 1951 in denominations of 1, 5, 10, 25 and 50 sen. Due to extremely high inflation, coins were no longer issued between 1961 and 1971. Once inflation was under control again, new coins were introduced in 1971 using the rupiah. The designs were fairly simple, with the obverse featuring the Bank of Indonesia, denomination and year of issue. The reverse of the 50 rupiah piece depicts the Greater Bird of Paradise, a native bird of Indonesia. The Swedish botanist and zoologist Carl Linnaeus named the species "legless bird of paradise" because natives prepared the birds without feet when trading them with Europeans.