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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 13, 1971, Lethbridge, Alberta Royal Canfidian Mint ivants to diversify its product line Money making not as profitable as it used to be 0r coins are made of links-will be destroyed Dec. SKY SPECTACULAR-FROM TWO STATES A Minute- man I missle, launched from Vadenburg Air Force Base in California provided a spectacular show for residents of several western states. The vapor trail lit up the sky over tas Vegas, top photo, just as it lit the sky over down- town tos Angeles, bottom photo, 300 miles away. The sky spectacular was caused by a reflection of the sun on ice particles in the missle's vapor trail.______________ The Letftbridge Herald 'hird Section Lethbridge, Alberta, Wednesday, October 13, 1971 Pages 33-48 By DAVE THOMAS OTTAWA (CP) Money making is not as profitable as it used to be. So, like other security- minded businesses, the Royal Canadian Mint wants to diver- ify its product line. This year it even moved inlo the jewelry market with a set of men's cuff-links. They're selling well, loo. Before when the mint was a branch of the finance department, the turreted like a medieval for- tress on a high bank of the Ot- tawa its stamping machines busy pounding out ordinary pennies, dimes and quarters. But in 1970, operating for the first time as a profit-moti- v a t e d Crown corporation, management faced a drastic drop in demand. Production of Canadian coinage fell to 339 million pieces from 630 million the year before. An aggressive sales cam- paign turned up new custom- ers in Singapore, Brazil and that lack facilities to produce enough of their own coins. coin another good source of revenue. In 1951, collectors began asking for uncirculated coin sets. The mint obliged by re- trieving coins from money bags on their way to the Bank of Canada. They sold just over. 500 sets that first year. Soon the mint had to assign a full-time employee to filling collectors' orders and began packing new sets in cardboard strips. OHDERS FLOODED MINT By 1965, fresh coin sales were big business and the mint announced that two mil- lion sets would be maximum of five to a cus- tomer. But numismatic spec ulation was then at an all- time high and seven million orders flooded the mails. On Jan. first clay orders were mail bags of cheques and money orders were waiting, Geoffrey Ferguson, chief of the numismatic section, re- calls the madness of specula- tors in 1965 and says they harmed the serious collector market. The a face value of found their way into the stocks of coin dealers and the price rocketed. It soon dropped when the mint announced it would have-a second run on the special sets to satisfy angry unfulfilled customers. "There was a lot of money said Mr. Ferguson, "be- cause when those sets came out, they weren't worth a damn." 'ears later, the sets are selling for in coin shops less than their original cost. SET UP SATELLITE Mint officials feared a re- peat of the 1965 fiasco and, to establish a natural supply and demand market for Canadian coinage, set up a special num- ismatic satellite mint across the river in Hull, Que. The special machine operators wear white gloves and work with dies and blanks superior to those used for commercial employs 70 people turning out a wide line of collectors' itms. The coins are no longer real examples of Canada's circu- lating currency. Each piece is stamped twice and packed im- mediately to prevent scratch- ing. Silver dollars are still minted for cost the circulating dollar coins arc made nickel. Mr. Ferguson is more en- thusiastic about the packaging than the coins themselves. The luxury com- plete set of new coins resting in a satin-lined display case of genuine "Since we have become a Crown corporation we've tried to add attractive items to our product line." USE GOLD, RHODIUM The mint's direct-mail ad- vertising brochure lists six different items this year, in- cluding the cuff-links avail- able plated in gold or rhod- ium, a rare metal. The initial cautious run of 400 of the cuff-link sets proved to be a wild under-esti- mate of demand; or- ders have been received so far this year. All the 1971 those used to stamp the cuff be destroyed Dec. 31. Thinking that mint-manu- factured jewelry may become as popular as coin hoarding, Mr. Ferguson promises "something for the ladies" in the 1972 line. A new cuff-link issue is planned, possibly cm- blazoned with Canada's coat of arms instead of this year's representation of the mint building. The wise buyer will join the mint's mailing list and purchase directly from the numismatic section. The cuff-link sets, for ex- ample, sell at in coin- dealer shops. The mint expects collector sales totalling more than million this year. With cus- tomers in 2J1 countries, numis- matic revenues are a good source of foreign exchange. Americans alone account for half the total sales. Jane Fojidn show aims at troop i ebellion LOS ANGELES (Reuler) Actress Jane Fonda said Mon- day she wants to take her anti- war show to Vietnam for Christ- mas and said she would like the show 'o help end the war by en- couraging a rebellion of troops. "We would like a rebellion of Miss Fonda told a news conference. "The pilots not to drop bombs and the men not to go out on patrol." The actress said she has ap- plied to President Nixon in a letter sent Oct. 6 asking to take her Free the Army Show to Vietnp.m. "But I'm not holding my breath." "If the president is serious about ending the war he would let us in but I don't think he is serious." Are Canadian investors tight with their money. SAVINGS SPECTACULAR By IRVING C. WHYNOT Canadian Press Business Editor There's an old feeling abroad in the country that Canadians are tight with their money and won't invest it if there is much of a risk involved. In the business and financial world this type of money supply is known venture venture being a risky undertak- ing or commercial speculation. The University of Toronto has a seminar on the subject coir- ing up later this month and one of its preliminary research ef- forts concludes that many of the country's top investment dealers, insurance companies and wealthy individ- invest hi such pro- jects if given a chance. The university's sclaol of business surveyed about 720 lenders and found only about 15 per cent who said they would NEW YORK FURS 34th ANNIVERSARY Come and help us Celebrate with these terrific sav- ngs. SILVER DOLLAR DRESS SALE with every dress you receive a brand new 1971 SILVER DOLLAR LAUREL CHAPTER NO. 43 O.E.S. 50TH ANNIVERSARY TEA SAT., OCT. 16TH Soulhminsler Church Mall p.m. NEW YORK FURS 604A 3RD AVE. S. PHONE 327-3276 not be interested In putting money into the start-up stage of a venture capital project. SOME QUALIFY SUPPORT The others said they would be willing to put up money, al- though some qualified their sup- port by saying they were not in- .erested in investing in the de- velopment stages. The survey discovered some interesting findings on the type of these investors would consider. More than half, for in- stance, said they would be will- ing to invest in financial serv- ices. At the bottom of the prefer- ence list, only six per cent of potential lenders said they would be willing to invest in the forest-products field. The university says venture capital has been referred to as the "financial wave of the 70s." "In the last few years, for ex- ample, large institutional as well as private partnerships have been organized to make venture capital investments. The number has been growing almost month by month. "Venture capital is being rec- ognized increasingly as ex- tremely important to the future, economic development of west- em countries. This has thrown into enormous prominence peo- ple in tlie field and the tech- niques used in successful ven- ture capital investments." The seminar runs Oct. 18-19. For those willing to risk the fee, the cost is Those wishing to play a venture capital game by computer the following day will pay an extra For investors who have al- ready made their decisions, a seminar at the university during the past week brought some ad- vice. Dean Levitt of McDonald Cur- ric and Co., a large accounting firm, told a tax forum that a Canadian who has made an in- vestment which shows a profit should consider taking his profit now to avoid the new capital gains tax. On the other hand, an invest- ment showing a loss could be retained for a could be used as a capital loss after Jan. 1 to reduce tax on other in- come. YEARLY FEE EDMONTON (CP) Albcr- taas without the services of a public library can pay a yearly fee to the University of Alberta extension library, allow- ing them to have up to eight books for a month, postage paid. Close-Out 1971 Broadlooms Sole Starts 9 a.m. Thursday Ends 6 p.m. Saturday at JORDANS DOWNTOWN 315 6th STREET SOUTH Today, the single most important theme in carpets is Fashion. Fashion in carpets is as significant to interior design as it is to your new wardrobe, Jordans, as recognized pace-setters in this style conscious world, must constantly introduce new carpets. As a result, at this time each year, we "paint ourselves into a create our own "traffic have thousands and thousands of yards of perfectly good 1971 styles still in stock-and now the new 72 broadlooms are on the way. This is the time for drastic action! Many of the most popular lines of this year must be cleared now this week and outstanding sav- ings are yours if you act now during this "Spectacular Sell-off." And please remember sale positively ends Saturday at p.m. HEATHERSTONE Rubber-back nylon tweed. Ideal "handyman" material. SALE 5 .99 JUBILEE SALE Attractively designed 3 level pile muJti-eolour nylon. Ten colours. 7.99 sq. Yd- WESTWIND SAIE Heavy long-piled multi-colour nylon yarn tumbled in gay colourings. 10 .99 sq. yd. WINDWARD SALE Closely tufted extra sturdy tweed nylon shag. 10 .99 sq. yd. REMNANTS Roll-ends in Rug sizes AT TERRIFIC SAVINGS CENTURY NYLON CMHC Approved Random sheared sculpiured. Five beautiful colours. SALE C.99 %f sq. yd. "VILLAGE FAIR" SALE Multi-colour shag. Most colourful tightly twisted yarn. Eleven shades. 7.99 I FIFTH DIMENSION SALE Ever-popular tone-on-tone embossed design. 10 shades. LUXURY PLUSH .E .99 "French Quarter" Plain colours only. A very elegant carpet fo. homes of impeccable taste. SALE 14 yd. Kitchen Rec Room Rubber-backed Do-it-yourself Nylon Tweed. Gold, Red, Turquoise, Green, Rust. SALE 7.99 H so, yd. Jordans One location only DOWNTOWN ot 315 6th Street S. Phono 327-1103 ENTER YOUR NAME IN THE FREE DRAW for: 2 WEEKS IN JAMAICA AND A 1972 FIRENZA ;