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 Replies: 27 / Views: 2,484 |
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Valued Member
 United States
63 Posts |
Wow! After reading through the thread there is going to be even more than I thought. Is this the Mint's fault or Congress? Does the mint recommend to Congress what to do, or do they just blindly follow what Congress says? Anybody know how it works from the inside?
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Pillar of the Community
United States
4870 Posts |
I think the market is being flooded with too many new coins.
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Moderator
 United States
189010 Posts |
quote:
Yeah, and they are doing 6 quarters next year! One for DC and 5 of the "major" territories. I'm not sure if they will continue into 2010 but I suppose that depends on how popular these are.
Although additional legislation would be needed, I have learned to never underestimate the ignorance of our elected representatives. (re-read this thread if you have short-term memory!) I cannot see how they could have coins for the other territories (a term I use loosley). The minor outlying islands have no permanent residents and you can bet the farm the Guantanamo Bay wont ever see the backside of the quarter! If it were to happen, the door is wide open for the mint to issue the " Commemorative County Pennies[sic]." |
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Bedrock of the Community
United States
12437 Posts |
quote:
Anybody know how it works from the inside?
Congress has to propose legislation for a new coin. Both houses of Congress have to pass identical legislation and once that happens, it is passed on to the president for his signature to become law. After the legislation is approved, the Citizens Coinage Advisory Committee http://www.ccac.gov/ makes the appropriate recommendations(design, purpose of the program, mintages, etc) to the Secretary of Treasury. The only real input the US Mint has in the matter is on the feasibility of actually being able to mint the coin(i.e. is the relief to high?, etc). |
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Pillar of the Community
United States
790 Posts |
I was a big US stamp collector, but then around the time first class stamps were 29c the USPS did what it appears the mint is about to do. Just to purchase all the products and their derivations costs a fortune. I gave up as soon as stamps stopped being used regularly on mail. The majority of the USPS products are never really intended to be used and are printed only for the seignorage (did I spell that right?, is the same word used for stamps?). At least half of that list of 40+ items are of a type that will not actually see circulation. Of course I'll buy them all too. Gotta finish those "state" quarter sets.
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Valued Member
United States
57 Posts |
I guess that's what the mint has to do to offset the cost of producing all those cents above face value, they know there is a huge market for coin collectibles and they will exploit it to the fullest.
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Bedrock of the Community
United States
17884 Posts |
quote:
but if you count all mints there should be 20 different 2009 cents.
If you consider all mints, compositions and surface finishes it could come up to 32 different 2009 cents. 4 P zinc business strikes 4 D Zinc business strikes 4 P zinc satin finish 4 D zinc satin finish 4 P copper satin fiansh 4 D copper satin finish 4 S zinc proof 4 S copper proof I can't guarantee that all of these will be made, but they could be. (I could see the mint offering a separate set of all 32 cent varieties in a nice holder for say $16.) If the mint set includes both copper and zinc, you could have a 44 piece mint set |
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Pillar of the Community
United States
4870 Posts |
I think the mint goes overboard with these commemorative coins...we need a break, we've already endured the too long State Quarter program then lived through the Louis & Clark nickels...now this! |
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Valued Member
United States
342 Posts |
If you consider all mints, compositions and surface finishes it could come up to 32 different 2009 cents
I considered that and it is possable but I think the Satin and proofs will only be in copper and Buisness strikes in zinc. Thats where I came up with 20.
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Bedrock of the Community
United States
12437 Posts |
quote:
I think the mint goes overboard with these commemorative coins...
The Mint can't control it, tell Congress to stop submitting legislation. |
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Moderator
United States
189010 Posts |
quote:
quote:
If you consider all mints, compositions and surface finishes it could come up to 32 different 2009 cents
I considered that and it is possable but I think the Satin and proofs will only be in copper and Buisness strikes in zinc. Thats where I came up with 20.
It can go either way. The legislation says that the copper cents are for collectors only, however, there is nothing stopping Philadelphia and Denver from making collector only copper cents. They already make NIFC Kennedy half dollars and Sac Dollars. |
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Valued Member
United States
63 Posts |
Thanks for explaining that Biokemist6. So Congress is behind it all. I wonder who is proposing all this coin legislation in Congress and what their motive is?  |
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Moderator
United States
189010 Posts |
There is money to be made by making money!  While there is a possibility that the Mint has some control by having a surrogate sponsor the legislation, I am inclined to believe that outside special interests are to blame. Unless you have a venture to tempt your lawmaker with, any requests to them will generate the canned "We appreciate you contacting us!" response while your correspondence is forwarded to NULL. |
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New Member
United States
42 Posts |
LOL, jbuck! County pennies indeed! :-P I think it's great to have new coin designs, but I also think this might be a bit too much all at once. Then again, I started collecting a little more seriously after the introduction of the Presidential dollar coins. So, maybe this will bring more new collectors in. In all honesty, nobody has to collect every coin the mint produces. Maybe this is the time to make a decision on what to collect and what not to from here on. |
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Moderator
United States
189010 Posts |
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In all honesty, nobody has to collect every coin the mint produces.
That is the truth, but there are people who buy the mint or proof sets every year; it is the long time set collectors that are being annoyed with this form of hyper-inflation. I am glad I got out of the proof-set habit in the 90's. I really do feel for those that collect the sets now, especially if they have to budget for them. quote:
Maybe this is the time to make a decision on what to collect and what not to from here on.
Yes I feel it is definitely the time to do that if not done already! |
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Replies: 27 / Views: 2,484 |
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Posted 03/11/2008 4:33 pm
