Counterfeit Recognition: How to Tell if Money Is Fake

Counterfeiting money is a crime, there is no doubt about it. And, like any other crime, it is present in our society. It's not only the police's or National Bank's job to look after the validity of banknotes; it is our duty as well. That's why we deem it highly important to know how to tell if money is fake.

In order to avoid being victims of counterfeiting money, we could use some knowledge and tricks to tell us if the money is fake. We don't have to be professionals, but we all know how money banknotes look.

How Does Counterfeit Work?

Each paper note has a denomination, text, watermarks, inks, and other details. US banknotes are made from note paper - a blend of cotton and linen. Based on those characteristics, there are several ways to tell if a bill is genuine or counterfeit.

Fake bills can be done with a lot of precision, but there are always ways to check. Your gut sending you red flag alerts is a reason enough to do a quick test of the bill. People who work retail usually have this feeling and know how to tell if money is fake. They present a huge and essential dam against counterfeiting. Fake bills show up in different denominations, and unfortunately for businesses, it often goes unchecked. Money laundering is a process of bleaching authentic bills with smaller denominations and printing them to look like $50 or $100 notes.

However, the counterfeiters figured out that the suspicion a retailer might have towards a $100 bill disappears when a smaller note is in question. US officials seized around $1 million in fake one-dollar bills in 2019.

Since there is no way to stop the attempts of creating fake bills, we - the workers, citizens, and business owners - need to be on the lookout for these forgeries.

Color-Shifting Ink

Crime amateurs won't fall for this one, but if we want to rule out forgery, we have to check if the bill denomination on the bottom right-hand corner has color-shifting ink. Every produced bill since 1996 has this trademark.

To check if what you have is a counterfeit currency, tilt it from side to side and look at the number in the upper right corner. The color of the number should change as you shift the bill.

Check the Watermark

Watermark is embedded in the paper to the right of the portrait. You can see it from both sides of the bill, but testing the authenticity will require holding the bill against some source of light. Also, if the watermark is a face, it should match the portrait of the bill.

It is not unusual for counterfeits to bleach bills with smaller denominations and reprint them with higher values. They are easily exposed upon authentication because, in that case, the face doesn't match the watermark.

If there aren't any watermarks - that's an easy indicator that the money is fake. Similarly, if you can see a watermark without the light source, that is proof of counterfeit.

Any Kind of Blurryness is a Red Flag

It is as simple as this: if you notice blurry borders, printing, or text, you are looking at signs of dealing with fake money. Authentic bills are highly detailed, with precise lines, dots, and negative space. There is nothing blurry on an original banknote.

When it comes to this item of a counterfeit check, the first thing you are going to check is note borders. All you need is a magnifying glass and a good sight. Microprinting on the note borders must be readable using this tool. If you can not read it - it's a fake!

Raised Printing

Not everything is tested by sight. If you want to know how to tell if money is fake, you need to open your senses. Use your sense of touch and figure out whether you're holding the real or the fake one.

When you run your fingernail down the note, you should feel some vibrations on the nail from the ridges of the raised printing. This is the result of the uniqueness of the paper and the intaglio printing process. The lack of vibrations should ring a bell, and you should further inspect the bill.

Security Thread with Microprinting

The security thread consists of a thin ribbon threaded through the note's paper. The material of the thread can be made out of plastic or metal foil, and the thread itself can contain engraved text or numbers.

Like a watermark, once you hold up the banknote to the light, the strip should appear in the form of a solid line. Each line has USA and the denomination number printed in letters. For example, the $5 bill will have USA FIVE.

Not every USD note has a security strip in the same area. For example, you can find it to the right of the portrait on the $10 and $50 bills. In contrast, the thread is located on the left of the portrait of the $5, $20, and $100 bills.

Ultraviolet Light

Ultraviolet flashes are accessible, you can easily buy them and many businesses provide them for their floor workers. The ultraviolet glow is a great tool for telling if money is fake.

Real money will not glow under ultraviolet light, rather only the security threads will. The one-dollar banknote is unique, as it has no thread and thus has no glow.

Each denomination thread will glow a different color - $5 has blue security fibers, $10 glows orange, $20 has green fibers, $50 glows yellow, and $100 will be red.

What to Do in Case of Counterfeit Recognition?

There are probably thousands of counterfeit bills in circulation right now, and many retail workers are, unfortunately, held accountable for this misfortune. Knowing how to tell if money is fake is not only a matter of national economic security, it is about safeguarding businesses and jobs of the people who work at the counters.

If you spot counterfeit bills, don’t put yourself in danger. Don’t check the bills in front of the person that gave them to you, don’t yell at them, and don’t try to catch them yourself. Observe a person who gave you the counterfeit notes - everything from facial features to a license plate number, but from a safe distance. After you’ve acquired information about the potential fraudster, hold on to the note and check the above mentioned items. After you’ve established that your suspicions are reasonable, contact the authorities. Treasury suggests contacting the local US Secret Service office along with local police. Source

The 12 Different Types of US Coins

The United States coinage has evolved alongside the country’s long and diverse history.

Whether you are new to collecting or are just curious, learning about the types of US coins is exciting. It reveals an interesting aspect of our history, culture and heritage. If you are a collector, familiarizing yourself with these coins can help you organize your hobby in a way that allows you to collect the most valuable coins.

A Brief History of United States Coinage

Congress passed the Coinage Act of 1792 to create the country’s first mint in Philadelphia. The early currency, particularly the dollar, was pegged to the Spanish milled dollar. The result was three distinct coin categories, i.e. copper, silver and gold.

That said, our country’s history of circulating coins can be traced back to long before we had an official mint. Before the Philadelphia facility, people used foreign and locally made coins. Spanish milled dollars, German thalers, British pounds, and other smaller coins made by the various colonies were primarily in circulation during the Colonial Period. Following the Revolutionary War, the Articles of Confederation allowed the various states to create their own coins and coinage system. However, this liberal idea led to a lot of confusion and made inter-state trading cumbersome, as the same coin would be worth a different amount from one state to another.

The passage of the Coinage Act sought to end this confusion by establishing a national coinage that all states would use.

Here are the 12 different types of US Coins...

1. Half Cent

• The half-cent was the first and smallest currency the United States Mint struck after introducing the Coinage Act in 1792. First produced in 1793, half cents were made from copper at the Philadelphia facility.

• Production of half cents continued until 1857, when a congressional act stopped further minting of these coins.

• Because most of the early dies were handmade, United States half-cents have more varieties and errors than any other coin in the country’s coinage history.

2. One Cent

• The next coin to be launched in 1793 after the passing of the Coinage Act of 1792 was the one-cent coin, later known as a penny.

• Like the half-cent coins, cents have numerous varieties and errors as they were struck from unique, handmade dies.
• Starting in 1856, the mint adjusted the size of the one cent, opting for a smaller penny due to the rising cost of copper. The Mint struck its first cupro-nickel penny with a smaller diameter in 1856.

3. Two Cents

• In 1864, a Congressional Act changed several features of the one-cent coin, including the metallic composition and the weight. This same Act also introduced the two-cent coin.
• The United States two-cent coin was struck from 1864 to 1872. The coin bears a shield reverse resembling that of a five-cent coin. It is among the coins with the shortest lifespan in our coinage history.

4. Three Cents

• The United States Mint introduced the three cents coin in 1851, the smallest coin by size in the country’s coinage history.

• Until 1853, the three cents, which measures 14 millimetres in diameter, was struck in 75 per cent silver. The Mint then changed the coin’s composition to 75 per cent copper and 25 per cent nickel due to the skyrocketing prices of silver.

• The new copper-nickel three-cent coin was also enlarged to measure 17.9 millimetres in diameter. 

5. Five Cents (Half Dimes and Nickels)

• Half dimes were among the earliest coins struck after the Coinage Act of 1792. The Mint produced these silver coins until 1873.
• Faced with high silver prices, the Mint halted production of silver half dimes in 1866, replacing them with five-cent coins, aptly known as nickels.

• Nickels are still in production, with the most current being the Jefferson nickel with a large portrait on the obverse and the new Monticello on the reverse.

6. Ten Cents (Dimes)

• Also known as dimes, ten-cent coins were among the Mint’s earliest currencies. Struck in 1796, the dime is still in use today despite undergoing numerous design changes.
• The ten-cent coin closely resembles the half-dime design. These coins were struck in silver until 1964 when copper and nickel replaced silver as the metal of choice for coin production.

To continue learning about the 12 different types of US coins click here... to view the other six coins.

10 Things You Didn’t Know About the Penny

1. The word “penny” and its variations across Europe—including the German “pfennig” and the Swedish “penning”—originally denoted any sort of coin or money, not just a small denomination.

2. Offa, an Anglo-Saxon king, introduced the first English coin known as the penny around 790 A.D.; it was made entirely of silver. Today’s British pennies (called “pence” when referring to a quantity of money) are worth one hundredth of a pound and minted in copper-plated steel.

3. The official term for the American penny is “one-cent piece.” However, when the U.S. Mint struck its first one-cent coins—then the size of today’s half-dollars and 100-percent copper—in 1793, Americans continued to use the British term out of habit.

4. Benjamin Franklin reportedly designed the first American penny in 1787. Known as the Fugio cent, it bears the image of a sun and sundial above the message “Mind Your Business.” A chain with 13 links, each representing one of the original colonies, encircles the motto “We Are One” on the reverse.

5. Along with the first U.S. penny’s design, the phrase “a penny saved is a penny earned” has been attributed to Benjamin Franklin. Visitors to the founding father’s grave in Philadelphia traditionally leave one-cent pieces there for good luck.

6. The copper content of U.S. pennies has declined over the years due to rising prices. The expensive metal makes up just 2.5 percent of one-cent pieces minted in 1982 or later; nickels, dimes and quarters, on the other hand, are mainly composed of copper. Still, today’s pennies cost more than their face value—an estimated 1.8 cents each—to produce.

7. In 1909, Teddy Roosevelt introduced the Lincoln cent to commemorate the 100-year anniversary of the 16th U.S. president’s birth. At the time, it was the first American coin to feature the likeness of an actual person (as opposed to the personifications of “liberty” appearing on earlier designs). Fifty years later the Lincoln Memorial was added to the penny’s reverse, complete with a tiny representation of the statue within.

8. The image of Abraham Lincoln on today’s American pennies was designed by Victor David Brenner, an acclaimed medalist who emigrated to the United States from Lithuania in 1890. Born Viktoras Barnauskas, Brenner had fled his native land after being persecuted for his Jewish ancestry.

9. As copper supplies became vital to weapons manufacturing during World War II, the U.S. Mint decided to cast the 1943 penny in zinc-coated steel. Nicknamed “steelies,” these coins caused confusion because they closely resembled dimes; they also rusted and deteriorated quickly.

10. In the 1980s, U.S. military bases overseas abolished the penny and began rounding all transactions up or down to the nearest five cents. This is the system Canada plans to implement later this year.

Source

Which Presidents Are on U.S. Coins and Why?

Ever wonder how certain presidents ended up being featured on American coins?

Abraham Lincoln on the Penny

The profile view of Abraham Lincoln first showed up on the front of the one-cent piece in 1909—nearly 120 years after the first U.S. penny was minted, and 44 years after President Lincoln’s death. Lincoln served as our 16th president during the Civil War. He oversaw Union efforts to defeat the Confederacy, and he subsequently pushed for the abolition of slavery with the Emancipation Proclamation.

Commissioned by President Theodore Roosevelt and sculpted by Victor David Brenner, the first Lincoln penny was released to the public in August 1909 in commemoration of the 100th anniversary of Lincoln’s birth. According to the U.S. Treasury Department, “A strong feeling had prevailed against using portraits on our coins, but public sentiment stemming from the 100th-anniversary celebration of Abraham Lincoln’s birth proved stronger than the long-standing prejudice.”

Thomas Jefferson on the Nickel

The likeness of Thomas Jefferson, America’s third president and co-author of its Declaration of Independence, debuted on our nation’s five-cent coin in 1938 as a replacement for the Buffalo nickel. Unlike the Lincoln cent, which was released to mark an anniversary, the Jefferson nickel first appeared five years before the bicentennial of his birth.

As noted by the Thomas Jefferson Encyclopedia, the 1938 coin was not the first depiction of Jefferson on U.S. currency. In 1869, his likeness appeared on the $2 bill.

The Treasury Department chose artist Felix Schlag to design the first Jefferson nickel. According to History.com, Schlag based his left-facing profile of Jefferson, featuring the former president in a period coat and wig, on a marble bust sculpted by France’s Jean-Antoine Houdon.

In 2005, the U.S. nickel featured a special one-year-only depiction of Jefferson designed by Joe Fitzgerald, also based on Houdon’s bust. This design came as part of the U.S. Mint’s Westward Journey nickel series, which featured new back designs honoring the 200th anniversary of the Lewis & Clark Expedition. Interestingly, one of these designs featured an American bison in a tribute to the Buffalo nickel, bringing both versions of the coin together for the first and only time.

In 2006, the current depiction of Jefferson was introduced, designed by Jamie Franki—the same designer who crafted the buffalo design of the previous year—based on an 1800 study by Rembrandt Peale.

Franklin D. Roosevelt on the Dime

The likeness of Franklin D. Roosevelt, our 32nd president, replaced the image of Lady Liberty on the 10-cent coin in 1946, the year after Roosevelt’s death.

FDR served in the Oval Office during two of our toughest periods: the Great Depression and World War II. Accomplishments during his tenure include the New Deal, a series of government reforms designed to help pull the U.S. out of the Great Depression. A key component of the New Deal was the creation of our nation’s Social Security program.

Despite his accomplishments, there were arguments that Roosevelt had not earned his place among the likes of Washington, Jefferson, and Lincoln. Others argued that Roosevelt was the logical choice for a new dime design, as he had helped found the March of Dimes organization dedicated to fighting polio—a disease the president himself suffered from.

The artist responsible for the image of FDR on the front of the dime remains a source of controversy. Officially, the design was the world of John Sinnock, the U.S. Mint’s chief engraver from 1925 to 1947. However, a plaque of similar design sculpted by Selma Burke was unveiled in 1945 in the Recorder of Deeds Building in Washington. Until her death in 1994, Burke argued that the dime was based on her work—a position that became shared by numismatists, politicians, and even Roosevelt’s son James.

George Washington on the Quarter-Dollar

A portrait of George Washington, our first president, graces the front of the U.S. 25-cent coin. The U.S. Mint first produced the Washington quarter in 1932 to commemorate the 200th anniversary of his birth.

Originally, the Bicentennial Committee had initially asked for a one-year commemorative Washington half dollar, but production of half dollars was halted between 1930 and 1933 due to a decreased demand for coins during the onset of the Great Depression.

Like the Jefferson Nickel, the design of Washington was based on the work of Jean-Antoine Houdon. In another interesting connection to the nickel, the Washington quarter was designed by Laura Gardin Fraser—wife of James Earle Fraser, designer of the Buffalo nickel.

Washington became president in 1789 after commanding the Continental Army during the Revolutionary War and presiding over the Constitutional Convention. The website for Mount Vernon, which was Washington’s Virginia estate, notes that the two-term president “played an essential part in shaping the role and function” of the presidency.

John F. Kennedy on the Half-Dollar

A coin representing John F. Kennedy, the 35th U.S. president, was conceived the day of his assassination, according to the National Museum of American History. JFK was shot to death on Nov. 22, 1963, while riding in a motorcade in Dallas, Texas.

Within hours of the assassination, Mint Director Eva Adams spoke with Chief Engraver Gilroy Roberts about depicting Kennedy on a coin, the museum reports. First Lady Jacqueline Kennedy chose the half-dollar for the denomination. Roberts designed the front of the coin, and Assistant Engraver Frank Gasparro designed the back.

The design change required Congress’s authorization, since law did not allow coinage designs to be changed more often than 25 years (and the current half-dollar was only 15 years old).

A little over a month after JFK’s death, Congress approved the Kennedy half-dollar to memorialize him with Public Law No, 88-253. The Kennedy coin was minted the following year in 1964.

In 1960, Kennedy became the youngest person ever elected president. He served less than three years. During that relatively short amount of time, JFK launched the Peace Corps, proposed comprehensive civil rights legislation, and challenged the U.S. to put astronauts on the moon.

His 1963 assassination “turned the all-too-human Kennedy into a larger-than-life heroic figure. To this day, historians continue to rank him among the best-loved presidents in American history,” History.com writes.

Dwight D. Eisenhower on the Dollar

The Eisenhower dollar paid tribute to America’s 34th president, Dwight D. Eisenhower. The coin was issued by the United States Mint from 1971 to 1978, and was the first coin of that denomination issued by the Mint for circulation since the Peace dollar series ended in 1935.

The coin, designed by Frank Gasparro, depicts President Dwight D. Eisenhower on the front and a stylized image honoring the 1969 Apollo 11 Moon mission on the back. It is the only large-size U.S. dollar coin struck for circulation containing no silver.

After Eisenhower died in March of 1969, multiple proposals to honor him with a new coin were delayed by a dispute over whether the new dollar coin would be composed of base metal or 40% silver. A compromise was reached to strike the Eisenhower dollar in base metal for circulation with a collectible version struck in 40% silver.

On December 31, 1970, President Richard Nixon, who had served as vice president under Eisenhower, signed legislation authorizing production of the new dollar coin. Although the 40% silver collector’s pieces sold well, the new base-metal dollars were considered bulky and cumbersome, and failed to catch on with the American public. They were discontinued after 1978.

The Presidential Dollar Series

In 2005, President George W. Bush signed the Presidential $1 Coin Act of 2005 into law, authorizing the creation of a new coin series that would see every president depicted in order of their presidency, with four different designs released each year.

The series was the first since 1933 to feature edge lettering, and the first design, featuring George Washington, was released in February of 2007 in honor of Washington’s Birthday.

The series was intended to be a replacement for the unpopular Sacagawea dollar, which failed to gain traction with the American public. Unfortunately, this series would suffer the same fate; it was only struck for circulation until 2011, after which the remaining coins were minted only for collectors.

By law, only deceased presidents may be depicted on American coinage—and so the presidential dollar series came to its first stop in 2016 with the final three releases of Presidents Nixon, Ford, and Reagan. The most recent addition to the series, featuring George H.W. Bush, was released in 2020. Presidents aren’t the only iconic U.S. figures on coins. Source

The Quarter: Complete History and Evolution of the U.S. Quarter

 

 

One of the most widely used denominations around, the U.S. quarter started in 1796. Since then, it has undergone tons of different designs (over ten) and I'm here to cover all of them. In this presentation, we'll go over the different facets of the quarters in terms of their histories, errors, values, and neat tidbits of information about how they evolved and why they did so.

Who Invented The Dime?

The United States dime, a small coin that has been in circulation since the inception of the nation’s monetary system, is a fascinating piece of history. The dime has played an integral role in the economic life of Americans for centuries, symbolizing both progress and stability. 

The history of the US dime dates back to the late 18th century when the Founding Fathers laid the groundwork for the nation’s monetary system. In 1792, the Coinage Act was enacted by Congress, establishing the United States Mint and the basic framework for the country’s coinage. The legislation also specified the creation of a ten-cent coin, which later became known as the dime.

The man behind the dime’s inception was Alexander Hamilton, one of the Founding Fathers and the first Secretary of the Treasury. His extensive involvement in shaping the US monetary system and his vision for a stable currency led to the establishment of the dime. The first dimes were struck in 1796, featuring a design that depicted Lady Liberty on the obverse and an eagle on the reverse. Since then, the dime has undergone several design changes, but its core value and significance have remained unchanged.

Source

Keep or Scrap? Know the Best Items to Scrap

If you know what to look for, scrapping can be an excellent source of additional income. Because some scrap items are more valuable than others, it’s wise for those unfamiliar with the scrap trade to learn the best items to scrap for money to maximize their time and effort.

Why Recycling Metal Matters

Recycling helps conserve the planet’s natural resources. With metal specifically, recycling helps reduce the need to produce virgin metal. This is essential when you consider the processes most often used in metal production, like coal and iron ore, which are some of the top contributors to climate change.

Recycling scrap metal allows manufacturers to use less energy, which means less greenhouse gas emissions. According to the U.S. Environmental Protection Agency (EPA), recycling steel and tin cans uses 60% to 74% percent less energy than making them from raw materials.

The Most Profitable Items to Scrap

Recycling scrap metal is not just good for the environment. It offers benefits for you. While you likely won’t be compensated for recycling paper or plastic, you can get paid for bringing in scrap metal. Some of the top metals and metal items to recycle include:

Copper

Cooper remains one of the most sought-after metals at scrap yards, usually earning scrap enthusiasts a nice payday. Many of us have copper in our homes and we don’t even know it. It usually can be found in wires, pipes, kitchen sinks, and fixtures.

Brass

Although brass isn’t as common as other types of scrap, it’s still a profitable item to recycle if you can find it. You can find brass in common household items such as bed springs, door locks, candlesticks, trophies, and hinges.

Brass often is mixed with other metals such as steel or aluminum, so take the time to sort through what you’ve gathered before bringing it to a scrap yard. This makes it easier to estimate how much your items are worth.

Platinum

Platinum jewelry is very valuable to sell as scrap. It can be found in rings, necklaces, bracelets, and more. Platinum is so popular because it resists oxidation, is malleable, and doesn’t tarnish. Other than jewelry, platinum can be found in laboratory equipment, automotive converters, medical testing devices, barware, and even cigarette cases.

Scrapping Personal Items

It’s easy to let go of items that hold no sentimental value, such as old appliances, used tools, and outdated computer parts. Choosing to part ways with personal items can be much more difficult. When cleaning out a family member’s home or decluttering your own space, you may come across items that leave you wondering whether to keep or recycle. In this scenario, it’s important to consider the following:

• Personal Value: While some items and metals might be in high demand, you may not make a profit that outweighs the personal value the item possesses. Items such as family heirlooms and jewelry typically come with a strong emotional connection, so you might consider holding onto them or passing them down to the next generation.

• Instrumental Value: Something else to consider when sorting through personal items is instrumental value. This means objects that provide a means to an end and those that satisfy needs and wants. If you believe a personal item falls within this distinction, consider holding onto it as it will be far more valuable to you than if you choose to recycle it.  Source

How To Restore Antique Watches In 4 Steps

An antique watch is a watch that is older than 100 years old. Antique watches are well-loved for a multitude of reasons, but mainly the low cost, rich history, and vintage aesthetics. However, owning antique wrist watches isn’t simple- they often need to be restored owing to their poor quality.

When it comes to antique watch repair, we recommend that you go to a professional. However, if you would like to find out to do it yourself, here’s how.

Before You Start, Examine The Antique Watch

In order to do this, you need to remove the watch back and observe each watch part. 

Generally, the two key problem areas are the crown and the mainspring, as they tend to be less durable than other parts. It’s also worth mentioning that some parts may appear dishevelled yet still be desirable as they preserve the antique feel of the timepiece.

Overall, with classic antique watches, it’s important to keep the authenticity as much as you can, so avoid restoring parts unless they aren’t functioning. So, which parts may need restoring, and how can you restore them at home?

1. Crown & Stem

The crown and stem are very susceptible to damage, therefore it’s likely you will have to repair these parts of your antique watch.

If the crown is detached, that’s an obvious sign that both the crown and stem need repairing as the crown is responsible for the winding movement, and the stem attaches to the crown.

In the event that you discover a detached crown, it’s time to close the watch back up and start researching. Try to identify the watch movement of your product and order the correct crown and stem, as well as a pin vise hand drill. If you don’t know the necessary details, you can contact the watch manufacturer for more information.

Once you’ve got the necessary crown and stem, it’s time to reopen the case back, ready to remove the stem.

Depending on the watch type, you will either need to push an indent to release, or twist a small screw anti-clockwise four times to loosen the stem.

Removing the crown is slightly more complicated. Get your pin vise hand drill and close it around the stem, with the crown at the other end. Then, take the pin vise in one hand and the crown in the other, twisting them in opposite directions. This will break the seal. Finally, twist the crown anticlockwise to release it from the stem.

2. Mainspring 

Another essential part of a mechanical timepiece is the mainspring, which is a wound-up metal cylinder that generates the power of the watch.

To discover if the mainspring of antique watches is broken, we simply wind the watch and wait to feel resistance. If there are clicking noises paired with no resistance, the mainspring is likely broken.

Fortunately, this is an easy repair. Again, open the back of your timepiece, but this time use tweezers to pick up the inner coil of the mainspring and slowly pull it out. To avoid the mainspring unwinding dangerously fast, use your thumb as a barrier by placing it on the end of the spring.

3. Case

A faded case can be an attractive factor in antique vintage watches, so be wary of restoring it. What’s more, the process of restoration is extremely complicated, so we definitely recommend leaving this one to the professionals. Some antique watch stores provide this service, so simply search ‘antique watch repair near me’ to view your options.

However, if you insist on trying this yourself, you will need a buffing wheel and polish to restore the shine in your timepiece. The polish will remove a layer of metal, leaving a fresh, sleek layer on top. 

4. Strap/Bracelet

Finally, a bedraggled watch strap can bring down the tone of the whole watch, so it’s important to know how to repair it.

The majority of the time, watch straps and bracelets should simply be cleaned. This helps them to look their best without removing their character.

For leather watch straps, you will need to detach the strap from the watch. Depending on the type of watch, you can either: push a tab to release the strap; place a sharp object between the lugs to retrieve the spring bar and strap, or insert a spring bar tool into the shoulder of the spring bar and push to release. 

Upon detaching the strap, use a microfibre cloth to gently wipe it. Then, soak a different cloth in soapy water and rub the watch strap thoroughly, before using a new damp cloth to wipe the soap away. As for metal bracelets on antique watches, simply dip a toothbrush into warm, soapy water and scrub between the links to achieve a sleek look. Source

The Pandemic’s Effect On Coin Production

The COVID-19 crisis has significantly slowed coin circulation in the country. Some people had trouble finding quarters to use at the laundromat, while businesses have posted signs asking customers to use exact change. 

People want to hold on to more of their coins and cash, while businesses that feed supply by reintroducing coins with their deposits have fewer nickels and dimes to do so, according to Soques. The U.S. Mint and the Federal Reserve formed the U.S. Coin Task Force in July 2020 to help identify and promote strategies to address the country’s coin circulation issues.

The Federal Reserve’s Board of Governors assured the public that there is “an adequate overall amount of coins in the economy” on its website’s FAQ page.“But business and bank closures associated with the COVID-19 pandemic significantly disrupted normal circulation patterns for U.S. coins,” the FAQ continued. 

The U.S. Mint upped its production of circulating coins in response to the shortage, making almost 3 billion more in 2020 compared to 2019.  The country is also facing high inflation, with the consumer price index rising 7% year over year in December — its highest level since 1982.  “Higher prices will also lead to higher money demand, since consumers need more cash and coin to conduct the same transactions,” Soques said. 

Todd Martin, deputy chief of corporate communications at the U.S. Mint, said in an email that “coins aren’t circulating through the economy as quickly as we need them to, which means that sometimes coins are not readily available where they are needed.”

The overall money shortage that the pandemic created meant that cash and coins alike were in short supply. Many businesses had to change their cash handling practices to align with new safety protocols. However, now that a few years have passed, the national shortage has gradually improved. The Federal Reserve has an adequate amount of cash in the economy.

Despite the shortage improving and businesses no longer struggling as much as they once did, there is still an issue with circulation. During the pandemic, the public grew used to utilizing more sanitary ways of paying, such as the tap feature on many credit cards or debit cards. So, while there is not currently another coin shortage, poor circulation of cash continues to be an issue for many businesses.

How Did the Coin Shortage Affect Businesses?

While it may seem that many people don’t use cash at all anymore, cash is still the lifeblood of many businesses. During the pandemic, many small businesses were forced to turn away customers because they simply didn’t have change for cash transactions. As a result, many industries are still currently struggling with proper cash handling procedures.

Why Does a Coin Shortage Matter? Is There a Coin Shortage Update?

The coin shortage in America affected consumers, businesses, and the economy in ways that many weren’t prepared for. Many businesses that were used to being able to easily order change simply couldn’t anymore. With coins and cash in short supply, the economy couldn’t function as it should either.

So, while a quarter shortage or penny shortage may not seem like a big deal overall, it came with overarching consequences. Some of these unique challenges for businesses and the public alike include:

Difficulties paying bills: While many people pay bills over the phone or online, for those who are lower income, this can become quite expensive. Without being able to put cash in a bank and send checks, poorer people struggled to pay bills.

Businesses lost revenue: Many businesses – primarily small or local ones – had to turn away customers due to the change shortage. Less circulation in the economy: With fewer businesses and people depositing or withdrawing money, the economy’s circulation and production drastically dwindled.

Impacts those without a bank or cards: Many people don’t have bank accounts and are primarily paid in cash by employers. With a shortage, many people could not buy essentials without losing money. Source

What Is Junk Silver?

If you’re just starting to get into collecting  silver or other precious metals, you may have seen the term “junk silver”, but what exactly is junk silver?

What is Junk Silver

Junk silver almost always refers to circulated 90% silver U.S.  coins that were minted before 1965. They are usually so worn they hold no other value as a collectible so instead they're worth only their silver content.

Junk silver is a type of silver coin that isn’t really worth anything in the value of numismatics, collectibles, or history, but it’s worth more than face value in its silver content.  If you collect enough junk silver, you can get a decent amount of money from selling them for their silver content.

That’s the basic definition of junk silver, but let’s get into what coins constitute junk silver and the differences between junk silver, bullion and numismatic coins

Is junk silver different from bullion?

 You may have junk silver in your coin jar or coin collection right now! Nowadays coins are made of a composite of metals, such as nickel and copper, but coins that were minted before the year 1965, such as the dime, and the quarter were actually made with 90% silver content!

Now, some of these older coins are worth a considerable amount due to rarity, condition of the coin, or an error during the minting process. But most of them don’t fall into this category. If you have an old Roosevelt dime that’s not in very good condition, but it’s pre-1965, that coin is worth its value in silver. Which is generally around 1.50 or so, depending on the current silver market.

Junk silver differs from bullion in the sense that bullion is generally specifically bought as bullion in .999 pure, like the silver or gold American Eagle series from the U.S. Mint. These would be considered gold and silver bullion. 

A coin with numismatic value is usually a coin that shows little to no wear, meaning it’s in a good condition, and is rare, or a particular error. There are many different rare coins that are worth a lot to collectors, but we’re not going to go into those today. Source

When Were Dimes And Quarters Made Of Silver?

It might seem that silver currency must have been ages ago, but in reality silver coins were produced all the way up until 1964! That’s quite recent!

Silver dimes, quarters, and actually even half-dollars usually fall into a category called “junk silver”. This just means that there is no numismatic value to the coin, but it’s made of silver so there’s some value in it because of the silver content.

WHAT DIMES ARE MADE OF SILVER?

The main types of dime that were made of silver were the Barber dimes, Mercury dimes, and Roosevelt dimes.

The Barber dime was minted from 1892-1916. Created by Chief Engraver of the U.S. Mint, Charles Barber. The design features Lady Liberty’s profile on the obverse, and the reverse shows a wreath and the denomination “one dime”.

The Mercury dime was minted from 1916-1945. This dime was designed by Adolph Weinman, and is actually a representation of Liberty wearing a winged cap, though the similarity to the Roman god Mercury was enough to nickname it “the Mercury dime”.

And the Roosevelt dime was first minted in 1946. The Roosevelt dime was designed by John R. Sinnock to honor President Franklin D. Roosevelt, in part for his work in helping to found the National Foundation for Infantile Paralysis (later renamed the March of Dimes), which raised money to aid in polio research and victims of the disease.

WHAT QUARTERS ARE MADE OF SILVER?

All quarters before 1965 were made of silver, so if you’ve got a quarter dated before then, it’s a safe bet to say it’s a silver quarter.

There were also some Bicentennial quarters made with silver (but not all), the Bicentennial quarters that are made of silver are the ones with an S mintmark (struck at the San Francisco Mint). These quarters were made with 40% silver

There are also silver Proof quarters that are made with 90% silver, but generally speaking these are quarters you would purchase in a set, and you’re unlikely to find them in circulation anywhere as they’re worth more than their face-value.

WHEN DID THEY STOP MAKING SILVER COINS?

Production of silver coins ended in the year 1965, when the mint switched the composition of quarters, dimes, and half dollars to a copper-nickel alloy, which is still used in coins to this day.

Collectors aren't a big fan of the new compositions but that doesn't mean there aren't still valuable or rare coins being produced today! Source