Why Coin Edges Have Ridges

A coin collector has claimed to have discovered the reason why all UK coins have ridges on their sides - and it goes all the way back to the 17th century.

A TikTok user has disclosed that there's a crafty rationale behind it. One user of the site known as @CoinCollectingWizard, who boasts 191,000 followers, shared the intriguing factoid in a video that racked up hundreds of likes alongside numerous comments. He asserted that historically, coins were composed of gold or silver and were devoid of ridges.

He explained that the intrinsic value of each coin correlated directly to its gold or silver content. However, he highlighted that certain individuals tried their hand at an unlawful scheme with these coins.

"They filed off the edges and sold them for their value in gold or silver," he added in the video.

In a bid to curb this malpractice, governments initiated the practice of milling or adding grooves to the edges, ensuring any tampered coins would be immediately recognisable.

To read the complete article, see:
Brits are just why coins have ridges - and it's blowing people's minds(https://www.plymouthherald.co.uk/news/uk-world-news/brits-just-coins-ridges--9536172)

Mint Ends Mutilated Coin Exchange Program

The U.S. Mint today published a final rule officially ending a program that redeemed bent and partial coins for full face value. The Mutilated Coin Redemption Program was suspended in 2018 because of the cost and resources needed to identify counterfeit coins being submitted for redemption. The final rule permanently ends the program.

In an explanation about the program on its website, the U.S. Mint notes there is no statutory or regulatory prohibition on melting dimes, quarters, half-dollar and dollar coins when done without fraudulent intent and done consistently with federal law. However, there is a regulatory prohibition against melting pennies and nickels, based in part on the fact that the cost of producing the coins currently exceeds their face value. Requests for licenses to melt mutilated pennies and nickels must be submitted to the U.S. Mint.

To read the complete article, see:
U.S. Mint officially ends mutilated coin exchange program(https://bankingjournal.aba.com/2024/09/u-s-mint-officially-ends-mutilated-coin-exchange-program/)

To read earlier E-Sylum articles, see:
WSJ EXAMINES DAMAGED AND SCRAP COIN RESALE PROGRAM(https://www.coinbooks.org/esylum_v19n19a23.html)
U.S. MINT RESUMES MUTILATED COIN PROGRAM(https://www.coinbooks.org/v21/esylum_v21n05a32.html)
U.S. MINT SUSPENDS MUTILATED COIN PROGRAM(https://www.coinbooks.org/v22/esylum_v22n20a23.html)
NOTES FROM E-SYLUM READERS: JUNE 11, 2023 : Mutilated Counterfeit Clad U.S. Coins(https://www.coinbooks.org/v26/esylum_v26n24a13.html)

The World's Largest Gold Bars

A lot of gold is needed to make a large gold bar, normally much more than a mining operation produced in a single clean-out of their sluice boxes and leaching ponds. This meant it took weeks or months to accumulate enough gold to make a sizable bar. It also required furnaces large enough to melt the gold and cast it into a single mass. Plus, once a big bar was cast, what good was it? Gold was money and time was money, so every mine owner wanted to get their precious metal to market so they would have money to pay the bills and build luxurious residences to show how "smart" they were.

American gold miners appear to have made only two exceptionally large gold bars during the 19th century. First came a bar weighing 6,127.78 troy ounces produced by the North Bloomfield Hydraulic Mining Company in Nevada County, California in October 1882. The second was cast from the output of three Montana mines and weighed 6,995 troy ounces. We'll explore these bars in more detail, but first, let's look at how the gold in these bars was acquired.

To read the complete article, see:
How the World's Largest Gold Bars Got Made(https://coinweek.com/how-the-worlds-largest-gold-bars-got-made/)

China's Footprints on African Banknotes

In 2016, Moroccan King Mohammed VI inaugurated the landmark Chinese-built Mohammed VI Bridge linking the Moroccan capital Rabat with the northwestern city of Sale. At 950m long and six lanes wide - with two 200m tall towers and 160 cables - it is Africa's largest cable-stayed bridge. It was built by the Chinese group Cover-Mbec with $72m investment, manifesting China's presence in the North African country in terms of trade and investment. Morocco's 20 dirhams banknote features Mohammed VI Bridge to celebrate the project.

To read the complete article, see:
(https://www.theafricareport.com/360695/made-by-china-african-currencies-featuring-chinese-footprints/)