Archive for the ‘Coins’ Category

A recent US Senate committee hearing declared that virtual currencies are, “a legitimate financial service” and has given it the stamp of respectability. Since then the value of the bitcoin has soared to over $1,000.

Enthusiasts of the currency say it is a very efficient way to handle global money transfers, and are astounded to see its value rise so much within five years of trading. It was only January, when it was less well known, that its value was just $20, to say it has fluctuated wildly is putting it mildly, $230 during April, below $70 during July, then over £600 in November. The Bitcoin is sometimes described as a new type of currency, but as for all currencies, its value is determined by how much people are prepared to exchange it for.

In order to process a transaction a computer must solve a mathematical problem which has a 64 digit answer, this is called mining bitcoins. The miners now use bespoke flexible chips, application-specific integrated circuits, known as ASIC, when a problem is solved, the processing of a block of Bitcoins is completed, and the miner receiving a reward of new Bitcoins.
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The Royal Mint just launched 2010 ‘Coins of the Year’. Below you find some of the royal coins for 2010.

Above: 50 pence coins

Above: Two pound coins

Background of Coins of the Year

Coins of the Year are targeted to those collecting coinage. Every year, new coins are launched and by purchasing a ‘Coin of the Year Set’ you can start a long term collection of minted legal tender.

In the long term, unusual coins in limited editions often turns out to be a good investment. All coins from Celebrate Britain come in excellent uncirculated quality, with superior-quality finish than circulating coins.

Coins of the Year 2010

The coins for 2010 are a 70-year celebration of the ‘Battle of Britain‘, a turning point of the Second World War. British pilots were fighting against German forces and it certainly was a risky job. Average life expecacy for pilots from Britain was only 8 days.

Special celebration coins for 2010

The five pound coin below is not in circulation, but you can (more…)