Word: coins
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...Clanking Robots. Paolozzi's work has always displayed an obsessive consistency of theme, even to those who in the '40s and '50s could not stomach it. Massculture artifacts are common coin in gallery art today; they were not so when Paolozzi, working in Paris, produced a whole series of collages scissored from American magazines-cover blondes from pulp thrillers, bombers and Jell-O from LIFE. Fifteen years ahead of time he predicted the grotesque iconography of lushness, repetition and violence that American artists would eventually discover in their own culture. In 1952 he helped form the Independent...
...Gradual substitution of some new form of international money for both gold and dollars. Individuals would never see this money, which would not take the form of bills or coin. It would be only a bookkeeping entry. The U.S., say, would pay a debt to Japan by having its account at the IMF debited, and the Japanese account credited, by an appropriate number of units of the new money. Although various plans are circulating for an entirely new form of money, to be called "bancors" or "bancalls," most economists favor much greater use of the already existing Special Drawing Rights...
...other side of the coin, business is improving. The nation gradually lifted out of its recession late last year; from their 1970 low points, production has risen 3.9% and personal income has advanced 8.6%. Consumers complain about being broke, but in fact they have more money than ever (though their dollars are worth less than before). They are increasing their savings at a spectacular annual rate of $64 billion. If they could be tempted to part with some of that cash, retail sales and the stock market could soar. Businessmen have trimmed the overly large payrolls that they accumulated during...
...early medals, Segel hired away from the U.S. Mint no less an expert than its chief engraver, Gilroy Roberts, who helped set up the Franklin Mint and became its chairman. Construction was financed in 1965 by offering 400,000 shares of stock to members of the Commemorative Society and coin collectors at $6.075 a share. Anyone who then invested $607.50 in 100 shares, which have since been split six times, today owns stock worth $24,600. Segel and his wife have more than $9,000,000 of it. In 1969 Segel sold the Commemorative Society to a historical foundation...
...retired people wait for the new medal each month and call the neighbors in to see it. Some businessmen get an issue and put it away without a second glance. Many people collect because it makes them feel like an expert in something." Not necessarily in investing, however. Many coin dealers refuse to handle the relatively small number of Franklin medals that come on the market, claiming that they are unworthy of numismatic attention. Segel cheerfully replies that some of his issues have already attained above-par value and dismisses the dealers' grumping as plain envy. Sales of Franklin...