Gold Coin

A gold coin is a coin made mostly or entirely of gold. Gold has been for coins practically since the invention of coinage, originally because of gold's intrinsic value. In modern times, most gold coins sold either to collectors, or to be used as bullion coins— coins whose nominal value is irrelevant and which serve primarily as a method of investing in gold. Gold has been as money for many reasons. It is fungible, meaning that it trades easily, 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 into smaller units, without destroying its value; it melts into ingots, and re-coined. The density of gold is higher than most other metals, making it difficult to pass counterfeits. Gold is extremely un-reactive. The scarcity of gold stabilizes its value. Precious metals in bulk form are bullion, and trade on commodity markets. Bullion metals cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money. While obsolete gold coins are primarily collected for their numismatic value, gold bullion coins today derive their value from the metal (gold) content — and as such are viewed by some investors as a "hedge" against inflation or a store of value. Many nations mint bullion coins. Investment quality coins minted after 1800 have a purity of not less than 900 thousands and are legal tender in its country of origin. Although nominally issued as legal tender, these coins' face value as currency is far below that of their value as bullion. The European Commission publishes annually a list of gold coins, which are 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 recognize as falling within the exemption for investment gold coins. This second list does not have legal force. South Africa introduced the Krugerrand in 1967 to cater to this market; this was the reason for its convenient and memorable gold content — exactly one troy ounce. It was the first modern, low premium (i.e. priced only slightly above the bullion value of the gold) gold bullion coin. Bullion coins are also in fractions of an ounce – typically half ounce, quarter ounce, and one-tenth ounce. Bullion coins sometimes carry a face value as legal tender, the face value is on the coin, and in order to bestow legal tender status on a coin, which generally makes it easier to import or export across national borders, as well as subject to counterfeiting. However, their real value is as dictated by their troy weight, the current market price of the precious metal contained, and the prevailing premium that market wishes to pay for those particular bullion coins. The face value is always significantly less than the bullion value of the coin. Legal tender bullion coins are a separate entity to bullion gold. One enjoys legal tender status; the latter is merely a raw commodity. Gold has an international currency code of XAU under ISO 4217. ISO 4217 includes codes not only for currencies, but also for precious metals and certain other entities used in international finance, e.g. Special Drawing Rights. Coins are usually made of an alloy as other metals are into the coin to make it more durable. Fineness is the actual gold content in a coin or bar and expressed in grams or troy ounces. Karat weight is a unit of fineness for gold equal to 1/24 part of pure gold in an alloy. Pure gold is 1000 fine. Below is a karat weight to fineness conversion chart. There is a correlation between karats and fineness: 24 karats = 1000 fine, 23 karats = 958.3 fine, 22 karats = 916.6 fine, 21 karats = 875.0 fine, 20 karats = 833.3 fine, 18 karats = 750.0 fine, 16 karats = 666.7 fine, 14 karats = 583.3 fine, 10 karats = 416.6 fine. The fineness converts to a percent, as well. If a gold coin has a fineness of .900, the decimal point is moved two places to the right and that number is expressed as a percent - that is 90.0% pure gold. If a gold coin has a fineness of .850, then the gold coin is 85.0% pure, etc. Coins have varied greatly in fineness through history. Notable historical standards that were closely adhered-to include the crown gold (22 karat) used in all English gold coins intended for circulation from 1526 onward, and 0.900 fine (21.6 kt), the standard for all American circulation-coins from 1837 onward. Fineness is not the only way to value a gold coin; a great deal of value in collector coins comes from condition and rarity. To a far lesser extent, even the value of gold bullion coins is influenced by their physical condition.

Shuffling

Shuffling is a procedure used to randomize a deck of playing cards to provide an element of chance in card games. Shuffling is often followed by a cut, to help ensure that the shuffler has not manipulated the outcome. A common shuffling technique is called the riffle or dovetail shuffle, in which half of the deck is held in each hand with the thumbs inward, then cards are released by the thumbs so that they fall to the table interleaved. Many also lift the cards up after a riffle, forming what is called a bridge which puts the cards back into place. This can also be done by placing the halves flat on the table with their rear corners touching, then lifting the back edges with the thumbs while pushing the halves together. While this method is more difficult, it is often used in casinos because it minimizes the risk of exposing cards during the shuffle. There are two types of perfect riffle shuffles: if the top card moves to be 2nd from the top then it is an in shuffle, otherwise it is known as an out shuffle which preserves both the top and bottom cards.

Riffle shuffling does, however, carry a risk of damaging cards from excessive bending. Casinos often replace their playing cards to prevent cheating from players that detect deformations in the cards. However, collectible card game cards are considerably less replaceable than playing cards, and CCG cards can be damaged from riffle shuffling, even when protected with card sleeves.

Because standard shuffling techniques are seen as weak, and in order to avoid inside jobs where employees collaborate with gamblers by performing inadequate shuffles, many casinos employ automatic shuffling machines. They also save time that would otherwise be spent shuffling, allowing several more hands per hour to be played and increasing the profitability of the table. These machines are also used to lessen repetitive motion stress injuries to a dealer. Note that the shuffling machines have to be carefully designed, as they can generate biased shuffles otherwise: the most recent shuffling machines are computer-controlled, though they have not yet fully been integrated into gaming.

 

Poker 7 Card Stud

7 Card Stud

Seven Card Stud Poker

Seven Card Stud Poker is played with a standard 52-card deck, but can also be played with a joker. Standard poker rankings apply. When playing with a joker, the joker can be used as an ace, or to complete a straight, flush, or straight flush. Five aces is the highest ranking poker hand.

Each poker player is dealt two cards face down (hole cards) and one card face up. There is a round of poker betting (check, bet, call, raise, or fold). Each remaining player is dealt one card face up. There is a second round of poker betting. Each remaining poker player is dealt a second card face up. There is a third round of betting. Each remaining player is dealt a third card face up. There is a fourth round of betting. Each remaining player is dealt a final card face down (hole card). There is a fifth (final) round of betting. The player with the highest ranking five-card poker hand wins the entire pot. In the event of a tie, the pot will be split equally.

STUD POKER BETTING STRUCTURE

All players must first ante before they receive their initial cards. There are five betting rounds in a complete game of 7 Card Stud Poker, not including Ante.
According to 7 Card Stud Rules, the action is started by forcing the lowest up card by rank and suit to bet the amount that corresponds to the bring-in for each limit. The action then rotates clockwise and players must either call the minimum bet forced by the low card, or make the first raise, which only completes the bet to the lower value of the limit structure. Raises thereafter are of the exact amounts of the fixed limits for each betting round.

On the first round of betting, the low card by rank and then by suit is required to initiate action with a minimum small bring-in bet. Suits are ranked: spades (highest), hearts, diamonds, clubs. On subsequent rounds, the high hand on board initiates betting action. If poker hands are tied, the player to the left of the dealer acts first. In all cases, the action prompts will inform the players as to who acts first.

HOW TO PLAY
Ante-All players must post a small bet before the cards are dealt. This is commonly called the ante.

Each player is dealt two cards face-down (hole cards) and one card face-up (door card).

First betting round-The lowest face-up card is forced to bet (bring-in) a minimal bet which starts the action on the first betting round only. The first raise only increases the money bet up to the lower limit level. i.e. The first raise increases the bring-in bet to a total of $5 in a $5-$10 stud game.

Each player is dealt one card face-up. This is commonly called 4th street.

Second betting round-High hand acts first from this point (on each round) until the last card is dealt. If there is an open pair (two cards of same rank) showing, then player has the option of betting the lower or the higher amount of the limits. i.e. $5 or $10 in a $5-$10 limit game.

Each player is dealt another card face-up (5th street)---At this point the limit is raised to the higher limit amount. i.e. $10 in a $5-$10 stud game.

Third betting round-High hand acts first.

Each player is dealt another card face-up. This is commonly called 6th street.

Fourth betting round-High hand acts first.

Each player is dealt a last card face-down. This is commonly called the river card.

Final betting round-High hand acts first.

Players show their hands. This is commonly called "the showdown".

7 Card Stud Poker Rules specify that when players show their hands (the showdown), they may use any 5 of their 7 cards to make their best possible poker hand.

The blinds are forced bets posted by players to the left of the dealer button in flop-style poker games. The number of blinds is usually two, but it can range from none to three. The small blind is placed by the player to the left of the dealer button and the big blind is then posted by the next player to the left. The one exception is when there are only two players a heads-up game, when the player on the button is the small blind, and the other player is the big blind. Both the player and the bet may be referred to as big or small blind. After the cards are dealt, the player to the left of the big blind is the first to act during the first betting round. If all players call the big blind, the big blind is then given an extra opportunity to raise. This is known as a live blind. If the live blind checks, the betting round then ends. Generally, the big blind is equal to the minimum bet. The small blind is normally half the big blind. In cases where posting exactly half the big blind is impractical due to the big blind being some odd-valued denomination, the small blind is rounded down to the nearest practical value. For example, if the big blind in a live table game is $3 then the small blind will usually be $1 or $2 since most casinos do not distribute large quantities of $0.50 poker chips. The blinds exist because Omaha and Texas hold 'em are frequently played without antes, allowing a player to fold his hand without placing a bet. The blind bets introduce a regular cost to take part in the game, thus inducing a player to enter pots in an attempt to compensate for that expense. It is possible to play without blinds. The minimum bet is then the lowest denomination chip in play, and tossing only 1 chip is considered a call. Anything higher than that is considered a raise. Poker without blinds is usually played with everyone posting an ante to receive cards, but it is technically possible to have absolutely no ante or blinds at all.

Mahjong

Mahjong, sometimes spelled Mah Jongg, is a game that originated in China, commonly played by four players with some three-player variations found in Korea and Japan. The four player table version should not be confused with the popular Western single player tile matching computer game Mahjong solitaire, which is a recent invention and completely different from the table game. Similar to the Western card game rummy, mahjong is a game of skill, strategy and calculation and involves a certain degree of chance. In Asia, mahjong is also popularly played as a gambling game though it may just as easily be played recreationally.

The game is played with a set of 136 tiles based on Chinese characters and symbols, although some regional variations use a different number of tiles. In most variations, each player begins by receiving thirteen tiles. In turn players draw and discard tiles until they complete a legal hand using the fourteenth drawn tile to form four groups melds and a pair head. There are fairly standard rules about how a piece is drawn, stolen from another player melded, the use of basic numbered tiles and honours winds and dragons, the kinds of melds, and the order of dealing and play. However there are many regional variations in the rules; in addition, the scoring system, the minimum hand necessary to win varies significantly based on the local rules being used.

All tiles are placed face down on the table and are shuffled. By convention all players should participate in shuffling using both hands moving the pieces around the table, loudly, for a lengthy period. There is no fixed rule on how to deal or how to treat tiles which flip over during shuffle, though possible solutions include turning back over the pieces at the moment they are seen, turning over all revealed pieces at intervals or doing so at the end of the shuffling and forming of the wall.

Each player then stacks a row of 18 tiles two tiles high in front of him for a total of 36 tiles. Players then push each side of their tiles together to form a square wall.

The dealer throws three dice and sums up the total. Counting counterclockwise so that the dealer is 1 or 5, 9, 13, 17, so that south is 2 or 6, 10, 14, 18, etc., a player's quarter of the wall is chosen. Using the same total on the dice, the player then counts the stacks of tiles from right to left. Starting from the left of the stacks counted, the dealer takes four tiles to himself, and players in counterclockwise order take blocks of four tiles until all players have 12 tiles, so that the stacks decrease clockwise. Each player then takes one last tile to make a 13-tile hand. Dealing does not have to be this formal and may be done quite differently based on house rules.

Each player now sets aside any flowers or seasons they may have drawn and takes replacement pieces from the wall.

The dealer takes the next piece from the wall, adds it to his hand. If this does not complete a legal hand, he then discards a piece throwing it into the middle of the wall with no particular order in mind.

Local play on the street in Lanzhou

Each player takes a turn picking up a tile from the wall and then discarding a tile by throwing it into the centre and, if desired, announcing out loud what the piece is. Play continues this way until one player has a legal hand. At this point a player will call out mahjong and reveal their hand. There are four different ways that this order of play can be interrupted which is mentioned below.

During play, the number of tiles maintained by each player should always be thirteen tiles meaning in each turn a tile must be picked up and another discarded. Not included in the count of thirteen tiles are flowers and seasons set to the side and the fourth added piece of a kong mentioned below. If a player is seen to have more or less than thirteen tiles in their hand outside of their turn they are penalised.