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Wednesday, September 21, 2011

Algerian dinar of Algeria

Algeria, officially the People's Democratic Republic of Algeria (Al Jumhuriyah al Jazairiyah ad Dimuqratiyah ash Shabiyah), also formally referred to as the Democratic and Popular Republic of Algeria, is a country in the Maghreb region of Northwest Africa with Algiers as its capital.

In terms of land area, it is the largest country in Africa, the Arab World and of the countries bordering the Mediterranean Sea; it is also the tenth-largest country in the world.[14] The country is bordered in the northeast by Tunisia, in the east by Libya, in the west by Morocco, in the southwest by Western Sahara, Mauritania, and Mali, in the southeast by Niger, and in the north by the Mediterranean Sea. Its size is almost 2,400,000 square kilometres (926,645 sq mi) with an estimated population of 36.3 million as of 2011.

The dinar was introduced on 1 April 1964, replacing the Algerian new franc at par.


Albanian lek of Albania

Albania  officially known as the Republic of Albania  is a country in Southeast Europe, in the Balkans region. It is bordered by Montenegro to the northwest, Kosovo[a] to the northeast, the Republic of Macedonia to the east and Greece to the south and southeast. It has a coast on the Adriatic Sea to the west, and on the Ionian Sea to the southwest. It is less than 72 km (45 mi) from Italy, across the Strait of Otranto which links the Adriatic Sea to the Ionian Sea. Albania is a member of the UN, NATO, the Organization for Security and Co-operation in Europe, Council of Europe, World Trade Organisation, Organisation of Islamic Cooperation and one of the founding members of the Union for the Mediterranean. Albania has been a potential candidate for accession to the European Union since January 2003, and it formally applied for EU membership on 28 April 2009.

Albania is a parliamentary democracy with a transition economy. The Albanian capital, Tirana, is home to approximately 600,000 of the country's 3,000,000 people. Free-market reforms have opened the country to foreign investment, especially in the development of energy and transportation infrastructure. Albania was chosen as the top country in Lonely Planet's list of ten top countries to visit for 2011.

Tuesday, September 20, 2011

Specifications of Flowing Hair dollar

Value 1.00 United States dollar
Mass  26.96 g  (416 gr)
Diameter  39–40 mm  (1.53–1.57 in)
Edge Lettered
Composition 90.00% Ag
10.00% Cu
Years of minting 1794–1795

The first American Dollar

The United States dollar also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies. The word "dollar" is one of the words in the first paragraph of Section 9 of Article 1 of the U.S. Constitution. In that context, "dollars" is a reference to the Spanish milled dollar, a coin that had a monetary value of 8 Spanish units of currency, or reales. In 1792 the U.S. Congress adopted legislation titled An act establishing a mint, and regulating the Coins of the United States. Section 9 of that act authorized the production of various coins, including "DOLLARS OR UNITS—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenth parts of a grain of pure, or four hundred and sixteen grains of standard silver". Section 20 of the act provided, "That the money of account of the United States shall be expressed in dollars, or units... and that all accounts in the public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation". In other words, this act designated the United States dollar as the unit of currency of the United States.
Dollar Coin
Dollar coins have been minted in the United States in gold, silver, and base metal versions. The term silver dollar is often used for any large white metal coin issued by the United States with a face value of one dollar, although purists insist that a dollar is not silver unless it contains some of that metal. Silver dollars, the first dollar coin issue, were minted beginning in 1794. Before the Revolutionary War, coins from many European nations circulated freely in the American colonies, as well as coinage issued by the various colonies. Chief among these was the Spanish silver dollar coins (also called pieces of eight or eight reales) minted in Mexico and other colonies with silver mined from Central and South American mines. These coins, along with others of similar size and value, were in use throughout the colonies, and later the United States, and were legal tender until 1857. In 1776, the Continental Congress authorized plans to produce a silver coin to prop up the rapidly failing Continental—the first attempt by the fledgling US at paper currency. Several examples were struck in brass, pewter, and silver, but a circulating coin was not produced, due in large part to the financial difficulties of running the Revolutionary War. The Continental Dollar bears a date of 177of Spanish dollars performed, as that was the coin upon which the United States monetary system would bename has stuck. The failure of the Continental exacerbated a distrust of paper money amongst both politicians and the populace at large. Beginning in the 1780s, a number of prominent Americans called for the establishment of a central mint to supply the United States with official coinage 416 grains, the balance being copper. On March 3, 1791, after reviewing Hamilton's report, Congress passed a joint resolution authorizing a federal mint; the resolution, however, gave no specifics or appropriations . Later that year, in his third State of the Union address, President George Washington urged Congress to provide for a mint, which was officially authorized by the Coinage Act of 1792. Despite the authorization, silver and gold coins were not struck until 1794. The first silver dollars were struck on October 15, 1794. The Flowing Hair dollar was the first dollar coin issued by the United States federal government. The coin was minted in 1794 and 1795; its size and weight were based on the Spanish dollar. In the early 1990s, numismatic historian Jack Collins estimated the surviving number of the coins to be between 120 and 130.