Created by potrace 1.14, written by Peter Selinger 2001-2017

Author Archives: Scott Mackay

Coins & Banknotes: A Guide to Understanding the History and Importance of Currency

  • Currency has been around since ancient times and has undergone a significant evolution throughout history. The concept of coins and banknotes has changed with the changing times, but they remain a crucial aspect of modern economies. 

    The History of Coins

    The use of coins as a form of currency dates back to the 7th century BC in Lydia (modern-day Turkey). Coins were made of various materials such as gold, silver, copper and even paper. The invention of coinage marked a significant change in the way people traded goods and services. It allowed for easier and more accurate transactions, as coins had a set value, unlike bartering, which was less precise. 

    The Evolution of Banknotes

    The use of banknotes emerged in China during the Tang Dynasty (618-907 AD). These banknotes were used as a form of exchange between merchants and were issued by local banks. 

    The first banknotes in Europe were introduced by the Bank of Sweden in 1661, and by the late 18th century, banknotes had become a common form of currency. The evolution of banknotes continued with the invention of the printing press, which allowed for more efficient production and distribution.

    The Importance of Coins & Banknotes

    Coins and banknotes play a critical role in modern economies. They are essential for conducting transactions and serve as a store of value. They also help to regulate the economy and control inflation, as central banks can manipulate the money supply by printing or destroying banknotes. Additionally, the design and composition of currency often reflects a country’s history and cultural identity.

    The Future of Currency

    The digital age has brought about the rise of digital currencies such as Bitcoin and Ethereum, which challenge the traditional concept of currency. 

    Despite this, coins and banknotes will likely remain a part of our economy for the foreseeable future. 

    The use of digital currencies has led to the development of new technologies such as blockchain, which has the potential to revolutionize the way we manage money and create future financial plans.

    Coins and banknotes have a rich history and continue to play a critical role in our economy. The evolution of currency has been shaped by technological advancements and changing economic conditions. As we move into the digital age, it remains to be seen what the future holds for traditional forms of currency, but for now, coins and banknotes remain an essential part of our daily lives.

    Post Tagged with ,

    Exploring the Similarities and Differences Between Banknotes and Payday Loans

  • Money is an essential part of everyday life, and we all use it in different ways. Banknotes and payday loans are two popular financial instruments, but they have some important differences.

    In this article, we will explore the similarities and differences between banknotes and payday loans to help you decide which one is right for you.

    Similarities between Banknotes and Payday Loans

    There are many similarities between banknotes and payday loans. Both are meant to be short-term solutions to financial hardships. Both are unsecured loans that do not require collateral. Both are meant to be repaid in a short period of time. Both have high interest rates that make them expensive to use. Both have inherent risks since they are unsecured loans. Both are meant to provide quick access to cash.

    Differences between Banknotes and Payday Loans

    There are several differences between banknotes and payday loans. One important difference is the length of the loan. Banknotes are usually issued over a long period of time, while payday loans are typically only offered over a two- to four-week period.

    Another difference between banknotes and payday loans is the type of borrower each loan is meant for.

    Advantages of Banknotes

    There are many advantages to using banknotes. One important advantage of banknotes is the amount of money available. Banknotes offer access to large amounts of money, which is important for long-term needs.

    Yet another advantage wof banknotes is their safety. Banknotes are protected by a government or a central bank. Banknotes are also easy to access. They are available at any financial institution that issues them. Another advantage of banknotes is their convenience. They can be used in any commercial establishment that accepts them. They can also be used for international transactions.

    Advantages of Payday Loans

    The truth is, there are many advantages to using payday loans. One known advantage of payday loans is the short repayment period it offers. A typical payday loan is repaid in two to four weeks, which is a relatively short period of time.

    Another advantage of payday loans is their short application and approval process. Borrowers can typically get a payday loan approved in less than 24 hours. Another advantage of payday loans is their quick access to cash. Borrowers can often access the money in as little as one day. You just need to make sure to use a reputable payday loans places.

    Post Tagged with , , ,

    5 Ways to Sell Rare Coins

  • Regardless if you have spent countless years to collect precious coins or if you have inherited it, a time might come that you might want to sell it. For most people who have not enough knowledge of selling such collectibles, finding a buyer could be daunting. Researching for ways to sell rare coins fast is much like what you’d do to sell house fast. It is important to be mindful of the process and know the avenues where you can make a sale.

    Most Common Ways of Selling Your Coins

    If you wish to sell rare coins at the best deal possible, then the following methods are something that should be taken into account.

    Selling to Coin Shop

    It does not matter if you are transacting with an online store or a brick and mortar store, coin shops would be happy to make offers for their customer’s coins. After all, they are a business and will be factoring their profit margin prior to making an offer. If you are looking forward to make a quick sale, coin shops are the best path to take. However, better expect that the value of your coin will be 20 to 40 percent less than its actual market value.

    Coin Shows

    There are several locations where coin shows are held. Such events are quite popular among coin collectors and dealers alike. This makes them the best place of meeting numismatic enthusiasts. Opting to sell at coin shows might bring mixed results since dealers don’t have much time to do research on the coins presented.

    Online Coin Dealers

    This is a wonderful way of getting in touch with folks who are actively buying coins but it is oftentimes efficient and quick. But in order to maximize your return, you have to match the coins with the dealer who show the same interest.

    Online Auction Sites

    Even though websites similar to eBay can give access to a global audience, the charged fees to list an item with reserved fee are costly. If there’s no reserve that’s placed on the item, you are running the risk of possibly losing it for fraction of what’s it worth. Buyers might be reluctant in paying a premium for item they’re not able to thoroughly inspect.

    Coin Dealers

    Another good source of information is to go with coin dealers. They’re like collectors but they tend to focus in specific numismatics only. Similar to any retail business, they’ll be paying discounted or wholesale price for them to make a profit from your coins.

    Largest Banknotes Ever Created in History

  • If you ever thought that nickels and pennies are quite useless, then you better take a look at the other end of the line: bills so big that you could possibly buy a whole island with a single note. Even yet, pay off loans from https://www.southeasttitleloans.com/. In this article, we will be discussing few of the biggest banknotes both from the past and present.

    Some of these banknotes were made in an effort to tame hyperinflation of their economy while others do exist mainly for being quirky. So if you are ready, then let’s get started!

    Zimbabwe: 100,000,000,000,000 Dollars

    Back in 2009 of January, Zimbabwe started printing 100,000,000,000,000 Dollars and by April of the same year, it was defunct. In an effort to demonstrate just how crazy the inflation in their country was at the time, buying a single loaf of bread would already cost you 300 billion Zimbabwean dollars. In US dollars, 100,000,000,000,000 Zimbabwean dollars will be equivalent to 300 dollars only.

    Yugoslavia: 500,000,000,000,000,000,000 Dinars

    During 1993 and 1994 in Yugoslavia, hyperinflation in country’s economy reach its peak wherein their currency doubled almost every day. As a matter of fact, USD 1 is equivalent to about 6 trillion Yugoslav dinars. Believe it or not, the paper itself has more value than the bill printed on it. These days, you may scrounge eBay and find less valuable but still, large 500 million notes that are selling for USD 1.79.

    United Kingdom: 100,000,000 Pounds

    Good luck finding this monstrosity of a banknote in circulation. But still, the bill is kept away in federal reserve. Well probably, it isn’t going to be released and no one would see it.

    Every now and then, there is a story regarding a million pound banknote escaping. Basically, Mark Twain wrote a book regarding the note as well – its US equivalent; 154 million dollars.

    Philippines: 100,000 Pesos

    The PHP 100,000 is the world’s biggest single banknote. Not just in value, but also in size. Approximately, it has the same measurement of a typical piece of printer paper. This was created somewhere around 1998 to commemorate the independence of Philippines from Spain. However, the note is only offered among collectors who have to fork out PHP 180,000 to buy the special banknote. In US dollar, this will equal to around $2,300.

    Hungary: 100 Million Billion Pengo

    WWII actually destroyed Hungarian Pengo which literally suffered the biggest hyperinflation rate in history. Actually, prices are doubling every 15 hours. In 1946, Hungary made this gigantic bill which was worth nearly nothing in majority of European countries. Even though there were notes of such printed, it was never issued in the first place.

     

    Rare Coins You wouldn’t Believe will make you Rich!

  • Only few are able to find fortune in selling coins. While it is true that some of the coins do sell for over a million dollars, many are surprised that some were found as pocket change. The most valued coins are those that are bought as investments and stored meticulously and with great care to maintain their pristine condition. The truth is, many of the coins are produced without the intention of them being used as a currency rather, as a collectible and at times, themed sets.

    The Kicker

    However, on special circumstances, circulated coins may be of great value. Generally, this happens when there’s a minting error after the con is released or when there’s a low mintage coin that’s hoarded by collectors. Auction records are frequently organized by uncirculated coins but with regards to rare coins, lower grade coins are worth more than its face value. The coins discussed in the next paragraphs of this article are from different parts of the world and was minted for the past 25 years. These coins are something you should check your time with. Who knows, it’s lying in your pocket as spare change.

    2000-P U.S. Sacagawea Dollars with Transitional Errors

    Whether you believe it or not, this coin was sold for 7,637 dollars in an auction. There are at least 4 Sacagawea commemorative dollars that have been discovered to have transitional errors. The coins were struck on copper-nickel planchet for Susan B. Anthony dollar instead of the manganese-bronze clad planchet that creates the golden color of the coin.

    2000-P U.S. ‘Cheerios’ Sacagawea Dollar

    Almost similar with the coin above, but this one was sold for 7,500 dollars. It’s part of special promotion. In 2005, a coin collector noticed that some coins had different designs on the back side of the coin and that is the fact that there’s more detail on the tail feathers of the eagle’s veins.

    1995 U.S. Doubled Die Obverse Penny

    Regarding this coin, it was sold at 5,053 dollars and it’s the last US doubled die penny. After 95, Denver and Philadelphia Mints used single hub technique. This is to eliminate any possibility of striking doubled die coins. However here, the doubling is extremely noticeable in words “In God We” and “Liberty”.

    There are approximately 40,000 of these coins were made prior the discovery of the doubling but 24,000 were destroyed before it was released in circulation.

    It is true that all these coins can give you good fortune. However, if you really want something that can push your finances, it is best to take time studying Bitcoin and other cryptocurrency from reputable resouorces.

    Why Bitcoin Market is Volatile?

  • There are many driving factors why prices for Bitcoin on crypto exchanges are fluctuating. Volatility is being measured in the conventional market using Volatility Index. This is otherwise known as CBOE Volatility Index or VIX. More recently, VIX for Bitcoin becomes available and is referred to as Bitcoin Volatility Index. This is aiming to monitor volatility of the top digital currency in the world by means of market cap for a given period of time.

    The Value of Bitcoin has been volatile, not just for the past few years but for the entirety of hits history. In fact, in a 3-month span from the months of October 2017 up to January of 2018, the volatility price of Bitcoin has been close to eight percent. This is actually more than twice the volatility of Bitcoin in a month’s period ending January 15 of 2020.

    But what’s the reason why Bitcoin is extremely volatile? Anyone who is interested to invest in Bitcoin or any cryptocurrency for that matter should be mindful about this. This is true particularly if you will be using funds from https://mycaraccidentcashadvance.com/ as investment.

    Bad News

    Much like the stock market, news events that scared Bitcoin users can affect its pricing and reputation on a bad light. These events may include statements given by governments and political events.

    All kinds of incidents as well as panic that ensued can easily drive the value of Bitcoin down versus fiat currencies.

    On the other hand, Bitcoin investors see these types of events not just as bad news but, as an evidence that the general market was maturing. Thus, rather than being affected by the decline of pricing, investors see it as an opportunity to make more profits.

    Bitcoin’s Value Perception

    One of the reasons why Bitcoin might fluctuate towards fiat currencies is how the perceived store of value against fiat currencies. Bitcoin have properties that make it almost same with gold. It’s governed by design decision by developers to be able to put a ceiling on its production to a fix volume of 21 million Bitcoins.

    Due to the fact that it is different from the fiat currencies, which is centralized or managed by the government, it is not affected by issues like:

    • Satisfactory growth through investment
    • High employment or
    • Low inflation

    Indeed, there are many things that have to be considered before investing in Bitcoins. This is the exact same reason why any aspiring investors should do their homework; else, they will likely regret their decisions in the end.

    𐌢