OLD Coin Straits Settlements 1895 10 Cent Queen Victoria British Colony Silver

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10 Cents - Victoria

Features

Issuer Straits Settlements (British Malaysia)  

Queen Victoria (1895)

Type Standard circulation coins

Years 1871-1901

Value 10 Cents (0.10)

Currency Dollar (1895)

Composition Silver (.800)

Weight 2.71 g

Diameter 18.0 mm

Thickness 1.35 mm

Shape Round

Technique Milled

Orientation Coin alignment ↑↓

Demonetized Yes

Number N#11570

References KM# 11

Obverse

Crowned bust facing left

Script: Latin

Lettering: VICTORIA QUEEN

Engraver: Leonard Charles Wyon

Reverse

Denomination within beaded circle, date lower right

Script: Latin

Lettering:

STRAITS SETTLEMENTS

10

·TEN CENTS 1895·

Edge

Reeded

Mints

Royal Mint (Tower Hill), London, United Kingdom (1895)

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FYI

 

Coin collecting is the collecting of coins or other forms of minted legal tender.

Coins of interest to collectors often include those that circulated for only a brief time, coins with mint errors and especially beautiful or historically significant pieces. Coin collecting can be differentiated from numismatics in that the latter is the systematic study of currency. Though closely related, the two disciplines are not necessarily the same. A numismatist may or may not be a coin collector, and vice versa.

History

People have hoarded coins for their bullion value for as long as coins have been minted. However, the collection of coins for their artistic value was a later development. Evidence from the archaeological and historical record of Ancient Rome and medieval Mesopotamia indicates that coins were collected and catalogued by scholars and state treasuries. It also seems probable that individual citizens collected old, exotic or commemorative coins as an affordable, portable form of art. According to Suetonius in his De vita Caesarum (The Lives of the Twelve Caesars), written in the first century CE, the emperor Augustus sometimes presented old and exotic coins to friends and courtiers during festivals and other special occasions.

Contemporary coin collecting and appreciation began around the fourteenth century. During the Renaissance, it became a fad among some members of the privileged classes, especially kings and queens. The Italian scholar and poet Petrarch is credited with being the pursuit's first and most famous aficionado. Following his lead, many European kings, princes, and other nobility kept collections of ancient coins. Some notable collectors were Pope Boniface VIII, Emperor Maximilian I of the Holy Roman Empire, Louis XIV of France, Ferdinand I, Henry IV of France and Elector Joachim II of Brandenburg, who started the Berlin Coin Cabinet (German: Münzkabinett Berlin). Perhaps because only the very wealthy could afford the pursuit, in Renaissance times coin collecting became known as the "Hobby of Kings."

During the 17th and 18th centuries coin collecting remained a pursuit of the well-to-do. But rational, Enlightenment thinking led to a more systematic approach to accumulation and study. Numismatics as an academic discipline emerged in these centuries at the same time as coin collecting became a leisure pursuit of a growing middle class, eager to prove their wealth and sophistication. During the 19th and 20th centuries, coin collecting increased further in popularity. The market for coins expanded to include not only antique coins, but foreign or otherwise exotic currency. Coin shows, trade associations, and regulatory bodies emerged during these decades.[3] The first international convention for coin collectors was held 15–18 August 1962, in Detroit, Michigan, and was sponsored by the American Numismatic Association and the Royal Canadian Numismatic Association. Attendance was estimated at 40,000.[5] As one of the oldest and most popular world pastimes, coin collecting is now often referred to as the "King of Hobbies".

Collector types

Casual coin collectors often begin the hobby by saving notable coins found by chance. These coins may be pocket change left from an international trip or an old coin found in circulation.

Usually, if the enthusiasm of the novice increases over time, random coins found in circulation are not enough to satisfy their interest.[citation needed] The hobbyist may then trade coins in a coin club or buy coins from dealers or mints. Their collection then takes on a more specific focus.

Some enthusiasts become generalists and accumulate a few examples from a broad variety of historical or geographically significant coins.[citation needed] Given enough resources, this can result in a vast collection. King Farouk of Egypt was a generalist with a collection famous for its scope and variety.

Most collectors decide to focus their financial resources on a narrower, specialist interest. Some collectors focus on coins of a certain nation or historic period. Some collect coins by themes (or 'subjects') that are featured on the artwork displayed on the coin. Others will seek error coins. Still others might focus on exonumia such as medals, tokens or challenge coins. For example, John Yarwood of Melbourne is the first person to take a serious interest in British military money (especially tokens).

Some collectors are completists and seek an example of every type of coin within a certain category. Perhaps the most famous of these is Louis Eliasberg, the only collector thus far to assemble a complete set of known coins of the United States.

Coin collecting can become a competitive activity, as prompted by the recent emergence of PCGS (Professional Coin Grading Service) and NGC (Numismatic Guarantee Corporation) Registry Sets. Registry Sets are private collections of coins verified for ownership and quality by numismatic grading services. The grading services assess collections, seal the coins in clear plastic holders, then register and publish the results. This can lead to very high prices as dedicated collectors compete for the very best specimens of, for example, each date and mint mark combination.

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Exonumia are numismatic items (such as tokens, medals, or scrip) other than coins and paper money. This includes "Good For" tokens, badges, counterstamped coins, elongated coins, encased coins, souvenir medallions, tags, wooden nickels and other similar items. It is related to numismatics (concerned with coins which have been legal tender), and many coin collectors are also exonumists.

Besides the above strict definition, others extend it to include non-coins which may or may not be legal tenders such as cheques, credit cards and similar paper. These can also be considered notaphily or scripophily.

Etymology

The noun exonumia is derived from two classical roots: exo, meaning "out-of" in Greek, and nummus, meaning "coin" in Latin (from Greek νοῦμμος - noummos, "coin"); thus, "out[side]-of-[the category]coins". Usually, the term "exonumia" is applied to these objects in the United States, while the equivalent British term is paranumismatica.

The words exonumist and exonumia were coined in July 1960 by Russell Rulau, a recognized authority and author on the subject, and accepted by Webster's dictionary in 1965.

Forms of exonumia: tokens and medals

Chronologically, in the United States many Exonumia items were used as currency when actual money was not easily available in the economy. A notable exception to this definition are Medals, which were generally not used as currency or exchange. See the 'for clarification' section below for distinctions between various branches of exonumia. Tokens were used both to advertise and to facilitate commerce.

Token authority Russell Rulau offers a broad definition for exonumia, and lines between categories can be fuzzy. For example, an advertising token may also be considered a medal. Good For tokens may also advertise. Counterstamped coins have been called “little billboards.” Strictly, exonumia is anything not a governmental issue coin. This could almost mean anything coin-like.

The English term "Para-numismatica", or alongside currency, appears more limiting, hinting that tokens must have some sort of “value” or monetary usage. One definition of Para-numismatica is anything coin-like but not a coin. In America this is not the accepted usage. Rulau's 1040 page tome, UNITED STATES TOKENS: 1700-1900 includes many tokens without any monetary value depicted on the token. While he included many items, some types of exonumia were not included just so the book would not get any bigger.

The following groupings of categories are continually expanding. One way of parsing tokens is into these three general categories:

Has a ‘value,’ facilitating commerce, such as Good For Something.

Commemoration, remembrance, dedication, or the like, for some person, place, idea or event.

Of a personal nature.

Typically catalogs of tokens are organized by location, time period and/or type of item. Historically the need for tokens grew out of the need for currency. In America some tokens legally circulated alongside or instead of currency up until recently. Hard Times Tokens and Civil War Tokens each were the size of the contemporary cent. Afterwards, value based items, such as Good For (amount of money), Good For one quart of Milk, Good For one beer, Good For one ride… and others were specifically linked to commerce of the store or place of issue.

For clarity, Exonumia are actual numismatic items, (other than government coins or paper money) which can be studied or collected.

Numismatic = Coins, Paper Money, Exonumia, (Numismatist)

Exonumia = Tokens, Medals, Badges, Ribbons, Etc. (Exonumist)

Notaphily = Paper Money, (Notaphile/Notaphiliac).

Scripophily = Stock certificates, (Scripophilist, Scripophilac)

Medals have a clear distinction from tokens in that there is no monetary value on the item, nor any intent to be used as money. (Medalists)

Exonumists are attentive to not only the history behind the items but the shapes, and what types of items they are.

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​A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.

Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords.

Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concepts of credit and lending that had their roots in the ancient world. In the history of banking, a number of banking dynasties — notably, the Medicis, the Fuggers, the Welsers, the Berenbergs, and the Rothschilds — have played a central role over many centuries. The oldest existing retail bank is Banca Monte dei Paschi di Siena (founded in 1472), while the oldest existing merchant bank is Berenberg Bank (founded in 1590).

The concept of banking may have begun in ancient Assyria and Babylonia with merchants offering loans of grain as collateral within a barter system. Lenders in ancient Greece and during the Roman Empire added two important innovations: they accepted deposits and changed money.[citation needed] Archaeology from this period in ancient China and India also shows evidence of money lending.

The present era of banking can be traced to medieval and early Renaissance Italy, to the rich cities in the centre and north like Florence, Lucca, Siena, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th-century Florence, establishing branches in many other parts of Europe. Giovanni di Bicci de' Medici set up one of the most famous Italian banks, the Medici Bank, in 1397. The Republic of Genoa founded the earliest-known state deposit bank, Banco di San Giorgio (Bank of St. George), in 1407 at Genoa, Italy.

Fractional reserve banking and the issue of banknotes emerged in the 17th and 18th centuries. Merchants started to store their gold with the goldsmiths of London, who possessed private vaults, and who charged a fee for that service. In exchange for each deposit of precious metal, the goldsmiths issued receipts certifying the quantity and purity of the metal they held as a bailee; these receipts could not be assigned, only the original depositor could collect the stored goods.

Gradually the goldsmiths began to lend the money out on behalf of the depositor, and promissory notes (which evolved into banknotes) were issued for money deposited as a loan to the goldsmith. Thus by the 19th century we find "[i]n ordinary cases of deposits of money with banking corporations, or bankers, the transaction amounts to a mere loan or mutuum, and the bank is to restore, not the same money, but an equivalent sum, whenever it is demanded". and "[m]oney, when paid into a bank, ceases altogether to be the money of the principal (see Parker v. Marchant, 1 Phillips 360); it is then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it." The goldsmith paid interest on deposits. Since the promissory notes were payable on demand, and the advances (loans) to the goldsmith's customers were repayable over a longer time-period, this was an early form of fractional reserve banking. The promissory notes developed into an assignable instrument which could circulate as a safe and convenient form of money backed by the goldsmith's promise to pay, allowing goldsmiths to advance loans with little risk of default. Thus the goldsmiths of London became the forerunners of banking by creating new money based on credit.

The Bank of England originated the permanent issue of banknotes in 1695. The Royal Bank of Scotland established the first overdraft facility in 1728. By the beginning of the 19th century Lubbock's Bank had established a bankers' clearing house in London to allow multiple banks to clear transactions. The Rothschilds pioneered international finance on a large scale, financing the purchase of shares in the Suez canal for the British government in 1875.

Etymology

The word bank was taken into Middle English from Middle French banque, from Old Italian banca, meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths.

Definition

The definition of a bank varies from country to country. See the relevant country pages for more information.

Under English common law, a banker is defined as a person who carries on the business of banking by conducting current accounts for their customers, paying cheques drawn on them and also collecting cheques for their customers.

In most common law jurisdictions there is a Bills of Exchange Act that codifies the law in relation to negotiable instruments, including cheques, and this Act contains a statutory definition of the term banker: banker includes a body of persons, whether incorporated or not, who carry on the business of banking' (Section 2, Interpretation). Although this definition seems circular, it is actually functional, because it ensures that the legal basis for bank transactions such as cheques does not depend on how the bank is structured or regulated.

The business of banking is in many common law countries not defined by statute but by common law, the definition above. In other English common law jurisdictions there are statutory definitions of the business of banking or banking business. When looking at these definitions it is important to keep in mind that they are defining the business of banking for the purposes of the legislation, and not necessarily in general. In particular, most of the definitions are from legislation that has the purpose of regulating and supervising banks rather than regulating the actual business of banking. However, in many cases the statutory definition closely mirrors the common law one. Examples of statutory definitions: "banking business" means the business of receiving money on current or deposit account, paying and collecting cheques drawn by or paid in by customers, the making of advances to customers, and includes such other business as the Authority may prescribe for the purposes of this Act; (Banking Act (Singapore), Section 2, Interpretation).

"banking business" means the business of either or both of the following: receiving from the general public money on current, deposit, savings or other similar account repayable on demand or within less than [3 months] ... or with a period of call or notice of less than that period; paying or collecting cheques drawn by or paid in by customers.

Since the advent of EFTPOS (Electronic Funds Transfer at Point Of Sale), direct credit, direct debit and internet banking, the cheque has lost its primacy in most banking systems as a payment instrument. This has led legal theorists to suggest that the cheque based definition should be broadened to include financial institutions that conduct current accounts for customers and enable customers to pay and be paid by third parties, even if they do not pay and collect cheques.

(VIDEO & PICTURES 7 & 8 FOR DISPLAY ONLY)

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