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LOOSE CHANGE: DECEMBER 2, 2018

The E-Sylum (12/2/2018)


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Here are some additional items I came across in the media this week that may be of interest. -Editor

Five Rare Australian Coins

australia-2007-5c-double-obverse

Number 1 on our list of Australian Coins that are worth real money is the Double Header 2007 5 Cent. They are the product of a mint worker deliberately pairing two 2007 heads (obverse) dies and then running the press to mint several hundred or possibly even several thousand coins. Worth $1500+ it’s worth anyone’s time to look at all 2007 dated 5 cent coins and spin them between your fingers and see if they’ve got two heads showing and if those Queen’s heads are rotated 180 degrees. If so, get yourself off to a good coin dealer and get that bad boy authenticated!

To read the complete article, see:
Five Rare Australian Coins that are Worth Money (https://www.australian-coins.com/collecting-coins/five-rare-australian-coins-that-are-worth-money/)

Pittsburgh's German National Bank

Larry Korchnak forwarded this interesting Pittsburgh Magazine article on the city's German National Bank. -Editor

German-National-interior-1914

Standing like a slender castle with its parapets and rough-hewn arches, the structure at the corner of Wood Street and Sixth Avenue looks built to survive stormy weather. A good thing too, since it has been the scene of three separate bank failures.

German immigrant Christopher Groetzinger opened a leather tannery on the North Side in 1851. His son, Adolph, bought and expanded the business, which made high-end shoe soles; the younger Groetzinger also became president of the German National Bank of Pittsburgh, one of the first federally chartered banks in the city.

To read the complete article, see:
MultiStories: Three Times a Bust – The German National Bank (https://www.pittsburghmagazine.com/Pittsburgh-Magazine/December-2018/MultiStories-Three-Times-a-Bust--The-German-National-Bank/)

Has Sweden gone too far in DITCHING cash?

Dick Hanscom suggested this Daily Mail article about Sweden's move to a cashless society. -Editor

Sweden is heading towards becoming a completely cash-free society but the country is being urged to keep producing physical cash by financial authorities.

Half the nation's retailers are expected to completely reject cash by 2025.

Financial authorities in the country are lobbying for the continued production of notes and coins until the government fully understands the ramifications of going completely cash-free.

To read the complete article, see:
Has Sweden gone too far in DITCHING cash? Financial authorities ask banks to keep creating notes and coins until the government can work out the long term consequences of the move (https://www.dailymail.co.uk/sciencetech/article-6438795/Swedish-AUTHORITIES-ask-banks-creating-notes-coins-country-goes-CASHLESS.html)

ATM Spits Out $100 Bills

In the why-can't-MY-machine-do-that department is this story from texas about a generous automated teller machine. -Editor

There was a line at the bank in north Harris County when word spread about the faulty machine, Houston's ABC 13 reported. Authorities said when a customer attempted to withdraw $20 on Sunday at around 11 p.m., the machine spit out a $100 bill, Houston's KPRC-TV reported. When the man posted about it on social media, a crowd rushed to the location, deputies said.

A few fights ensued when people waited in line to make money from the ATM glitch, the station reported. The commotion occurred over a roughly two-hour period before authorities arrived, officials said. Deputies dispersed the crowd and shut down the transfer machine, ABC 13 reported.

"This was an incident at a single ATM in Houston caused when a vendor incorrectly loaded $100 bills in place of $10 bills. We have resolved the matter. Customers will be able to keep the additional money dispensed," the company said.

To read the complete article, see:
Bank of America ATM in Texas mistakenly spits out $100 bills, customers can keep it (https://www.foxnews.com/us/bank-of-america-atm-in-texas-spits-out-100-bills-fight-breaks-out)

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