LOOSE CHANGE: FEBRUARY 2, 2020

R. W. Julian on Seated Liberty Dollars

The story of the Seated Liberty motif began in June 1835 when Mint Director Samuel Moore resigned and was replaced by Dr. Robert Maskell Patterson. The new director believed that our silver coinage designs were outdated and unworthy of a great nation; to correct this situation he arranged for two talented artists, Thomas Sully and Titian Peale, to create special artwork just for a new silver dollar. Sully was given the job of designing the obverse, which was to be a seated figure of Liberty and similar to Britannia on the British coinage, yet distinctly American in character. Sully was to succeed brilliantly in his assignment; Patterson then turned over the sketches to Mint engraver Christian Gobrecht. (Peale designed the reverse with the magnificent eagle, "flying onward and upward.")

To read the complete article, see:
Seated Liberty Dollars (https://www.numismaticnews.net/article/news/seated-liberty-dollars)

Nature of France Series

The Monnaie de Paris has launched a new three-year series that will highlight the beauty of nature through three strong numismatic symbols often depicted on French coinage: Namely the oak leaf, the laurel wreath, and the wheat sheaf. For the 2020 issue, the series concentrates on the Oak motif. Synonymous with strength and longevity, the oak is both an emotive symbol of liberty and happiness for the French Republic, and, by definition, a key numismatic element.

Designed by well-known and award-winning artist Joachim Jimenez, the obverse side depicts a very detailed oak leaf centred along with a wreath of oak leaves positioned below. The text LIBERTE EGALITE FRATERNITE is placed above the primary motif.

The reverse includes all three of the elements which will be prominently featured as part of the three-year series: A sprig of an olive branch, an oak branch, and a sheaf of wheat, which are centred. The denomination is incorporated into the design, and the text REPUBLIQUE FRANCAISE is placed on each side of the sheaf of wheat in a vertical direction.

To read the complete article, see:
France: New gold and silver coin series featuring "Nature of France" launched (http://news.coinupdate.com/france-new-gold-and-silver-coin-series-featuring-nature-of-france-launched/)

Why Is A Company That Prints Money Running Out Of Cash?

But demand for cash isn’t falling at anything like the rate needed to cause such a dramatic crash. 84% of global transactions are still in cash. In the U.S., banknote production outstrips GDP growth. And in the U.K., despite predictions that by 2028 physical cash will be used in only 9% of transactions, banknote production is rising.

Nevertheless, De La Rue’s problems do seem to center on its banknote printing business, where revenues have plunged 29.5%. So if this isn’t due to declining use of cash, what is causing it?

The company’s commentary appears to suggest that there has been a one-off shock to banknote production which will eventually resolve itself. But a resilient company shouldn’t be brought to the brink of insolvency by a one-off shock. There must be something else.

And sure enough, there is. A deeper look into the company’s financials reveals a long-standing malaise.

It may be that in the future, use of cash will decline to the point where companies like De La Rue are no longer needed. But De La Rue’s present crisis is simply an old-fashioned story of too much debt, not enough equity, inadequate cash generation, and - above all - bad management.

To read the complete article, see:
Why Is A Company That Prints Money Running Out Of Cash? (https://www.forbes.com/sites/francescoppola/2020/01/30/why-is-a-company-that-prints-money-running-out-of-cash/#7d885e8e3b5d)

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