Syrian activist group claims that the Islamic State of Iraq and the Levant (Isil) have begun minting their own “Islamic dinar” coins. Pictures posted on social media showed a series of gold sovereigns bearing Isil inscriptions, and with a reported value of one gold dinar being with $139 (£89).
Beautiful Notgeld Example
From 1914 until the mid-1920s, the population of Germany and Austria were faced with a crisis of sorts: the value of the materials used to make coins was now higher than the value of their denominations. Understandably, the public began refusing to hand over said currency to purchase goods and its distribution slowed to a a virtual stop. In response, makeshift banknotes – not legal tender but used as such in local circles – were produced by local authorities and some companies, and quickly began to circulate.
An unintended side-effect was that the majority were beautifully and uniquely designed, and as a result many people were so enamoured by the colourful ‘Notgeld‘ (‘emergency money’) that they began to save them and pay for goods with their legal currency instead, thus recirculating the genuine coins; by 1930 the distribution of these notes (fashioned from all manner of materials including paper, wood, leather, photographs, coupons) had ceased and instead spawned a collectors’ market.
After the jump, view a round-up of some of the most eye-catching examples…
Real pound coin
Their warning came as new figures indicated there were £41 million fake £1 coins in Britain – one in every 36 in circulation. This is a record level and suggests that the proportion of counterfeit coins had tripled in the last decade.
Products bucking the recession
It’s not all doom and gloom in the U.S. economy. Some products are bucking the recession and flying off store shelves.
Sales of chocolate and running shoes are up. Wine drinkers haven’t stopped sipping; they just seem to be choosing cheaper vintages.
Gold coins are selling like hot cakes. So are gardening seeds. Tanning products are piling up in shopping carts; maybe more people are finding color in a bottle than from sun-worshipping on a faraway beach.
Wirtland [‘v¡rtlənd] claims to be the world’s first internet-based sovereign country. Wirtland is an experiment into legitimacy and self-sustainability of a country without its own soil. A “virtual land” that will soon offer it’s own real gold coin.