Token vs Coin — what’s the difference?

The terms ‘coin’ and ‘token’ are often used alike. In practice, there are some differences… sort of.
One of the problems of such a new and cutting-edge sector, particularly one that arises from the grassroots, is that regulation tends to lag behind the technology. The same is true of language. Terms are created and evolve as they are needed, and there is not always clear agreement about what they mean.
Two terms used to describe units of blockchain value are COIN and TOKEN. Their meaning and usage overlaps considerably and they are often used interchangeably, but — strictly speaking, at least — there are some differences.
Function vs form
Very broadly, a crypto coin is just that: a coin, or means of payment, whilst a token has wider functionality.
The express purpose of a coin is to act like money: as a unit of account, store of value and medium of transfer. Coins tend to take the form of native blockchain tokens like bitcoin (BTC), Litecoin (LTC), Monero (XMR), and so on, though they do not have to. ChronoBank’s Labour Hour (LH) tokens, which are hosted on Ethereum, can be considered as coins. Their purpose is solely to act as a form of money, storing value over time and enabling businesses to account and pay for services. They are created as ERC20 tokens for reasons of convenience.
Blockchain tokens do have value, but they cannot be considered money in quite the same way that a straightforward coin can. Tokens are generally hosted on another blockchain, like Ethereum or Waves: 2.0 protocols that allow users to create them using the core coin (e.g. ETH or WAVES — though there’s some debate about whether ETH and WAVES, both of which act like ‘fuel’ for their systems, are coins in the same way that BTC acts as a simple currency).
Tokens offer functionality over and above that of digital cash. They may deliver value to investors, beyond speculative returns; this is one of the purposes of ChronoBank’s TIME token. That can occur in a variety of ways, though typically through buybacks (since dividend payments entail regulatory problems). They may be used to hold votes by the community on key business decisions, or even technical changes to the platform.
Blurred lines
In practice, the line between coins and tokens is not clear and sharp. Both are used to transfer value, as a means of payment, in a similar way to that both USD and shares are used to reward people for work (though predominantly the former). It’s possible to host coins as tokens on 2.0 platforms, as is the case with LH on Ethereum. And the purpose of coins can go beyond simple payments; Crown (CRW), for example, uses batches of 10,000 coins locked in ‘Trons’ — masternodes — as a kind of electoral college for governance votes.

Whilst the language will no doubt continue to evolve with the technology, most people therefore agree on the broad strokes: coin = cash, token = everything else.

Arrests made in heist of massive $1M gold Canadian coin

German police arrested at least 2 people, but the coin hasn’t been found.

Hundreds of German special police raided several buildings in Berlin early Wednesday, arresting four suspects in connection with the brazen heist of a 100 kg Canadian gold coin stolen from one of the city’s museums earlier this year.

Heavily armed masked police arrested the suspects, one wearing a hood over his head, in Berlin’s Neukoelln neighborhood. Another nine people are being questioned in the case. All suspects are related to one another and aged between 18 and 20, police said.

The raids of 13 different buildings lasted several hours, but the gold coin was not recovered.

“We assume that the coin was partially or completely sold,” Carsten Pfohl of the Berlin state criminal office told reporters at a press conference. He added that police also confiscated clothes and cars to comb for traces of gold.

​Massive ‘Big Maple Leaf’ gold coin worth millions stolen from German museum

The Canadian “Big Maple Leaf” coin, worth several million dollars, was stolen from the Bode museum in March.

Police say the three-centimetre thick gold coin, has a diameter of 53 cm, and a face value of $1 million. By weight alone, however, it would be worth roughly $5.8 million at market prices.

Experts think the coin may have been melted down already to cash in on the gold. Police also searched a jewelry store in the Berlin neighbourhood, saying they had indications the store may have been involved in the possible sale of the gold.

The thieves were most likely tipped off to the existence of the enormous coin by an acquaintance who worked at the museum as a guard, police said.

THE CURRENT | How did thieves steal gigantic $1M Canadian gold coin from Berlin museum?
At least two burglars broke into the museum at night on March 27, using a ladder to climb to a window from elevated railway tracks. They grabbed the coin, loaded it onto a wheelbarrow and then carted it out of the building and along the tracks across the Spree River before descending into a park on a rope and fleeing in a getaway car.

Police had published footage from surveillance video asking the public for help in finding the thieves.

The coin, which has an image of Queen Elizabeth on one side and maple leaves on the other, was on loan from a private, unidentified person, it has been reported. It’s one of only five that were made by the Royal Canadian Mint.

£1 coin: Everything you need to know about the new pound

Twelve sides, two colours and a “hologram”: everything you need to know about the new pound as it enters circulation.
As the Royal Mint introduces a new £1 coin to tackle forgeries, here are 10 things we know about the pound.

1. The new 12-sided coin has a gold-coloured outer ring and a silver-coloured centre.

2. It features the fifth coinage portrait of the Queen, and is designed by Jody Clark.

:: New high-tech £1 coin to edge out old pound in bid to tackle forgeries

3. It includes a latent image which, like a hologram, changes from a “£” to a “1” when seen from different angles.

4. The design for the new pound coin includes a rose, a thistle, a leek and a shamrock to reflect the four parts of the UK. In the past there have been 25 different designs on the pound coin.

The coin features the fifth coinage portrait of the Queen

5. It is lighter than the old pound coin weighing just 8.75g and is thinner at 2.8mm, but it slightly wider with a maximum diameter of 23.43mm.

Lady Liberty to be black woman on new US $100 coin

The US Mint and Treasury will for the first time issue a commemorative coin depicting Lady Liberty as a black woman.

The coin commemorates the Mint’s 225th anniversary and shows Liberty with a crown of stars and a toga-like dress.

The 24-carat coin will weigh 28g (1oz) and have a face value of $100 (£80).

The US Mint says it plans to issue further coins depicting Liberty as women from ethnic minorities, such as Asian, Hispanic or Indian Americans.

Why is this coin worth $10m?
US man pays tax bill using five wheelbarrows of coins
Rhett Jeppson, the Mint’s principal deputy director, told the New York Times newspaper that part of the intention was to “have a conversation about liberty – and we certainly have started that conversation”.

A total of 100,000 of the Gold coins will be created, along with 100,000 silver reproductions of the image, called medals, that will sell for about $50, the newspaper reported.

The coins will go on sale on 6 April.

Coins bearing new designs will be issued every two years, the Mint said in a statement.