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The GoldCoin is the currency in no countries.The Philippine Peso is the currency in Philippines (PH, PHL).The symbol for GLD can be written GLD.The symbol for PHP can be written P.The Philippine Peso is divided into 100 centavos.The exchange rate for the GoldCoin was last updated on March 12, 2019 from coinmarketcap.com.The exchange rate for the Philippine Peso was last updated on December 21, 2023 from The International Monetary Fund.The GLD conversion factor has 12 significant digits.The PHP conversion factor has 6 significant digits.
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To make it easier for administrators, entrepreneurs, professionals, businesses, and retailers who accept LELE coin (and other crypto coins) as a transaction service for their merchandise and other services to optimize the market. MARTIE will be the base platform for achieving business deals quickly, easily and on time with a variety of process tools.
Lelecoin is another option of cryptocurrency that you can use if you want to diversify your cryptocurrency assets. It offers a green ecological solution for mining, uses proof of stake validation methods for transactions and will be sold in the cryptocurrency exchanges in the near future.
Traditionally (up to about the 1930s), gold coins have been circulation coins, including coin-like bracteates and dinars. In recent decades, however, gold coins are mainly produced as bullion coins for investors and as commemorative coins for collectors. While modern gold coins are still legal tender, they are not observed in everyday financial transactions, as the metal value invariably exceeds the nominal value. For example, the American Gold Eagle has a denomination of 10 USD, but a metal value of more than $900 USD (being around a half an ounce).
Gold has been used as money for many reasons. It is fungible, with a low spread between the prices to buy and sell. Gold is also easily transportable, as it has a high value-to-weight ratio compared to other commodities such as silver. Gold can be re-coined, divided into smaller units, or melted into larger units such as gold bars, without destroying its metal value. The density of gold is higher than most other metals, making it difficult to pass counterfeits. Additionally, gold is extremely unreactive chemically: it does not tarnish or corrode over time.
Gold coins then had a very long period as a primary form of money, only falling into disuse in the early 20th century. Most of the world stopped making gold coins as currency by 1933, as countries switched from the gold standard due to hoarding during the worldwide economic crisis of the Great Depression. In the United States, 1933's Executive Order 6102 forbade most private ownership of gold and was followed by a devaluation of the dollar relative to gold, although the United States did not completely uncouple the dollar from the value of gold until 1971.[3]
In 2007, the Royal Canadian Mint produced a 100-kilogram (220 lb) gold coin with a face value of $1,000,000, though the gold content was worth over $2 million at the time. It measures 50 centimetres (20 in) in diameter and is 3 centimetres (1.2 in) thick. It was intended as a one-off to promote a new line of Canadian Gold Maple Leaf coins, but after several interested buyers came forward the mint announced it would manufacture them as ordered and sell them for between $2.5 million and $3 million. As of May 3, 2007, there were five orders.[4] One of these coins was stolen when it was on exhibition at the Bode Museum in Berlin.[5]
The largest legal-tender gold coin ever produced was unveiled in 2012 by the Perth Mint in Western Australia. Known as the "1 Tonne Gold Kangaroo Coin" and with a face value of one million dollars, it contains one tonne of 9999 pure gold, and is approximately 80 cm in diameter by 12 cm thick.[6]
The European Commission publishes annually a list of gold coins which must be treated as investment gold coins in all EU Member States. The list has legal force and supplements the law. In the United Kingdom, HM Revenue and Customs have added an additional list of gold coins alongside the European Commission list. These are gold coins that HM Revenue & Customs recognise as falling within the exemption for investment gold coins. This second list does not have legal force.[7]
Gold is denser than almost all other metals, hence hard to fake. A determination of weight and volume is in many cases sufficient to spot forgeries. A coin that is not gold or below the expected fineness will either have the right size but will have a lower than expected weight or it weighs right and will be somewhat larger. Most metals that are of similar or higher density than gold are similarly or more expensive, and were unknown in ancient times (notably the platinum group). During the 19th century platinum was cheaper than gold and was used for counterfeiting gold coins. These coins could be detected by acoustic properties.[8] Only two relatively inexpensive substances are of similar density to gold: depleted uranium and tungsten.[9] Depleted uranium is government-regulated, but tungsten is more commonly available and suited for counterfeiting.[9]
Bullion coin counterfeits (of all types) used to be rare and fairly easy to detect when comparing their weights, colors and sizes to authentic pieces. This is because the cost of reproducing any given coin precisely can exceed the market value of the originals.[10][11][12][13] However, since about 2015 counterfeit coins are "flooding the market at an astonishing rate" and "it's gotten to the point where even people who deal with coins all the time may not be able to recognize a counterfeit coin right away" (American Numismatic Association (ANA), 2016).[14] The coins consist mostly of tungsten plated thinly with gold, have the correct weight, correct or near-correct dimensions and are professionally produced in China.[14][15]
The weight and dimensions of a coin of .999 fineness such as the Maple Leaf cannot be replicated precisely by a gold plated tungsten core, since tungsten has only 99.74% of the specific gravity of gold. However, forgeries of alloyed gold coins (such as American Gold Eagle or Krugerrand made from a crown gold alloy with 22 karats = .917 fineness) may have the correct weight and dimensions because of the lesser density of the alloy. Such forgeries can be detected testing the acoustic, electric resistance or magnetic properties. The latter method uses the fact that gold is weakly diamagnetic and tungsten is weakly paramagnetic. The effect is weak so that testing requires strong neodymium magnets and sensitive conditions (e.g., a gold coin hanging from 2 m long pendulum or placed on styrofoam floating on water), but such tests can be performed without special equipment.[16]
"This clich might find its origin in the crude testing method used by American prospectors during the 19th century gold rush. They bit the gold nuggets they found to be sure that they were not fool's gold" [17]
Olympic champions often pose biting their gold medals,[why?] even though the medals are no longer made of solid gold.[17][18][clarification needed] Only at three Olympics (in 1904, 1908 and 1912) were medals made of solid gold, but were also smaller.[18] David Wallechinsky commented in 2012 that "It's become an obsession with the photographers. I think they look at it as an iconic shot, as something that you can probably sell. I don't think it's something the athletes would probably do on their own."[18]
Another example is the US $20 gold coin ("double eagle"), which has raised lettering around its rim. If the coin is uncirculated, the letters will be flat on top. If slightly rounded, and the coin is uncirculated, it is a counterfeit. There are other counterfeit double eagles in which the gold and copper alloy was not thoroughly mixed. These counterfeits will have a slightly mottled appearance.[20] 2351a5e196
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