Coin Community Family of Web Sites Join Thousands of Coin, Bullion, & Money Collectors
Specializing in Modern Numismatics Royal Estate Auctions - $1 Coin Auctions300,000 items to help build your collection! Royal Canadian Mint products, Canadian, Polish, American, and world coins and banknotes. Join Thousands of Coin, Bullion, & Money Collectors Coin, Banknote and Medal Collectors's Online Mall Vancouvers #1 Coin and Paper Money Dealer








Username:
Password:
Save Password
Forgot your Password?


This page may contain links that result in small commissions to keep this free site up and running.

Welcome Guest! Registering and/or logging in will remove the anchor (bottom) ads. It's Free!

1999-Lincoln Cent...no Copper Appearance

To participate in the forum you must log in or register.
Author Previous TopicReplies: 20 / Views: 6,955Next Topic
Page: of 2
Pillar of the Community
clairhardesty's Avatar
United States
1027 Posts
 Posted 10/30/2016  12:34 pm  Show Profile   Bookmark this reply Add clairhardesty to your friends list Get a Link to this Reply
I thought 1999 might be little early for alternative metals. Public Law 111-302 actually requires biennial research into new coin programs and another report was issued in December 2014 and another one should be published this year.

Both the 2012 and 2014 reports are available at https://www.usmint.gov/about_the_mi...ecialreports

Also, every mint annual report since 2001 can be obtained at https://www.usmint.gov/about_the_mi...nnual_report
Edited by clairhardesty
10/30/2016 12:38 pm
Bedrock of the Community
Conder101's Avatar
United States
17884 Posts
 Posted 10/31/2016  09:57 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
The final report on this study was submitted to the mint in August 2012.

The "finl" report said they needed more time to evaluate the possibilities/ The second report in 2014 said there was no metal alloy that would work for the cent. The next report is due out this year. They have spent millions so far trying to find a metal alloy that will allow the cent to cost less than a cent to make when it has a manufacturing cost not including materials of over one cent. In other words they have spent six years and millions of dollars trying to find a metal that has a NEGATIVE cost.
Pillar of the Community
Pete2226's Avatar
United States
3331 Posts
 Posted 10/31/2016  09:59 am  Show Profile   Bookmark this reply Add Pete2226 to your friends list Get a Link to this Reply

Quote:
In other words they have spent six years and millions of dollars trying to find a metal that has a NEGATIVE cost.




Pillar of the Community
CoinMasters's Avatar
United States
5964 Posts
 Posted 10/31/2016  2:59 pm  Show Profile   Bookmark this reply Add CoinMasters to your friends list Get a Link to this Reply
Exactly!
Pillar of the Community
clairhardesty's Avatar
United States
1027 Posts
 Posted 11/01/2016  3:14 pm  Show Profile   Bookmark this reply Add clairhardesty to your friends list Get a Link to this Reply
I don't even understand why it is so important to attempt to reduce the cost of the cent and nickel. The overall cost of circulating coin production is well below the total face value. So what if a couple line items are in the red. It is like a corporation trying to make each department show a profit when some of them just can't (HR, IT, Marketing, etc,). If the overall cost ever approaches the total face value then rethink the entire product line. Until then stop wasting time and money. Last year the cent & nickel lost $75M and the dime & quarter profited $624M and they lost another $8.5M on damaged and other unsold coins, for a net seigniorage of $541M. The mint had its most profitable year (for circulating coinage) in at least five years making $0.49 on every dollar shipped.
Edited by clairhardesty
11/01/2016 3:15 pm
  Previous TopicReplies: 20 / Views: 6,955Next Topic
Page: of 2

To participate in the forum you must log in or register.



    




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2026 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2026 Coin Community Forums
It took 0.23 seconds to rattle this change. Forums