Sunday, July 31, 2011

Coin of the Week: 1976 Japan 50 Yen

Obverse (Image: Chrysanthemum)

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Reverse (Value, Year of Minting)

Japan_back

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.

Sunday, July 3, 2011

Coin of the Week: 1971 Indonesia 50 Rupiah

Obverse (Coin Denomination)

Indonesia_front

Reverse (Image: Greater Bird of Paradise)

Indonesia_back

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.

Sunday, June 26, 2011

Coin of the Week: 2003 Syria 10 pounds

Obverse (Image: Syrian National Arms)

Syria_back

Reverse (Image: Ancient Ruins of Palmyra)

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With all of the turmoil currently in Syria, I decided to look into the coins I have from there. The official currency of the Syrian Arab Republic is the Syrian pound. The pound is divided into 100 qirsh, although this denomination is no longer in use. The pound was introduced in 1919, after the fall of the Ottoman Empire. Before 1919, as part of the Ottoman Empire, the Turkish lira was in circulation.

There are two reasons why I chose the 10 pound coin. One is because of the technology incorporated in the design. The other is because of an interesting fact related to the coin.

The obverse of the 10 pound coin depicts Syria's National Arms as well as the year of issue in both the Islamic (1424) as well as Gregorian (2003) calendars. The national arms features the Hawk of Quraysh (or Quraish) holding a shield with the Syrian flag. Quraysh was the tribe to which Mohammad belonged and became the dominant tribe in Mecca. The reverse depicts the ancient ruins at Palmyra with a latent image included in the design. The initials of the Central Bank of Syria (CBS) appear when the coin is turned one way, the denomination appears when the coin is turned the opposite direction. As to Palmyra, it was an important city in antiquity because it was strategically located on two routes linking the Far East with the Mediterranean Sea. More information on Palmyra can be found on this link from the Metropolitan Museum of Art.

Now to the interesting fact related to the Syrian 10 pound coin: since the shape, weight and size of the coin resembles that of the 20 Norwegian krone, vending machines and other coin-operated machines in Norway cannot tell the two coins apart. While not readily available in Norway, the fact that the Syrian coins had been used on occasion led the Norwegian postal service to close many of its coins-to-cash machines in 2006. It wanted to develop a system that was able to differentiate between the two coins.

Sunday, June 12, 2011

Coin of the Week: 1997 Jordan 1/2 Dinar

Obverse (Image: Leaf Design)

Jordan_back

Reverse (Image: King Hussein bin Talal)

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Jordan, officially the Hashemite Kingdom of Jordan, has its roots in the ancient kingdoms of Nabatean, Edom, Ammon and Moab. The Nabatean Kingdom, with its capital Petra (considered one of the New Seven Wonders of the World), highlights the important role the Kingdom of Jordan has played in world history. Modern Jordan was founded in 1921 as Transjordan, part of the British Mandate of Palestine created after World War I and the end of the Ottoman Empire. The country became an independent state in 1946.

Jordan's currency is the dinar, with 1 dinar equalling 100 qirsh (also called piastres). The word dinar may come from the Latin word denarius, which stood for a small silver coin used in the Roman currency system. All of Jordan's coins depict the King of Jordan on the obverse. In 1997, this was King Hussein. Today, his son King Abdullah rules the country. The reverse of this heptagonal 1/2 dinar states the denomination encircled by a leaf/arabic design. More information on coins from the Hashemite Kingdom of Jordan can be found here.

Saturday, June 4, 2011

Coin of the Week: 1983 Cook Islands 50 Cents

Obverse (Image: Queen Elizabeth II)

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 Reverse (Image: Bonito)

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The Cook Islands are composed of 15 islands in the South Pacific. The country is a self-governing democracy in free association with New Zealand. Although discovered by the Spanish explorer Alvaro de Mendana in 1595, the islands were more or less ignored until rediscovered by their namesake, Captain James Cook in 1773. The indigenous population, the Maoris, are believed to have lived on the islands for more than 1,000 years.

The currency of the Cook Islands is the dollar, with 100 cents equaling 1 dollar. As a member of the British Commonwealth, Cook Island coins portray Queen Elizabeth II on the obverse. The reverse of the 50-cent coin depicts the bonito, a type of tuna important in the diets of the islanders. For more information on the bonito, including fishing and cooking tips, click here.

Sunday, May 29, 2011

Coin of the Week: 2001 Korean 500 Won

Obverse (Image: Red-crowned Crane)

Korea_back

Reverse (Image: Denomination)

Korea_front

South Korea's currency is the won, a currency which has been in use for thousands of years. Today's Korean won was introduced in 1962, with 500 won coins entering circulation in 1982. 

Like all of South Korea's coins, the 500 won has the year of issue, denomination and bank title on the reverse. The obverse depicts the red-crowned crane. This crane is one of the rarest cranes in the world and is a symbol of good luck and longevity in many parts of Asia. The red-crowned crane has an estimated population of 1,500 remaining in the wild, with about 1/3 of them migrating to the Korean peninsula in the winter. Interestingly enough, the sanctuary that this crane depends on is in the Korean DMZ and Civilian Controlled Zone. The red-crowned crane is protected as a National Monument in South Korea.

If you're interested in more information about red-crowned cranes, visit the Smithsonian's National Zoo. For conservation efforts, visit the International Crane Foundation.

 

Sunday, May 22, 2011

Coin of the Week: 1977 Solomon Islands 1 Dollar

Obverse (Image: Queen Elizabeth II)

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Reverse (Image: Traditional Wood Carving)

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Like other islands in the Pacific, the indigenous people of the Solomon Islands bartered or used items of value such as cowrie shells and whale teeth as currency. Coins began to replace these items when Europeans started colonizing this nation consisting of almost 1,000 islands. The Solomon Islands introduced its own currency in 1977, one year after achieving self-government. The islands became an independent nation in 1978 and are now a member of the Commonwealth of Nations. The currency of the Solomon Islands is the dollar, with one dollar divided into 100 cents.

The seven-sided 1 dollar coin depicts Queen Elizabeth II, the Monarch of the Solomon Islands and head of state, on the obverse. The reverse depicts a native wood carving called the nguzu nguzu.  The figurehead was attached to a canoe's prow and was thought to give supernatural protection. The nguzu nguzu on the 1 dollar is typical, depicting a figure with a large head, small arms and circular ear ornaments. You can get more information and see an exhibit at the Metropolitan Museum of Art here.