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 Replies: 51 / Views: 10,133 |
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Bedrock of the Community
 United States
12477 Posts |
It's funny, I had my first Coinstar find in a while today and guess what I found...a dime on top and two rotten Zincolns (1990 & 2010) in the reject tray, worse than those pictured. By the way, the U.S. Mint doesn't plate the blanks. They are purchased from an outside supplier.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
United States
74233 Posts |
Stinking Lincoln's. Spruett001, that must stink. Are the two Lincoln cents spendable? If they're not, you can easily get away with it by putting it in a customer wrapped roll and put nice coins on both ends to hide the ones that have Zinc Rot.  Errers and Varietys.
Edited by Errers and Varietys
10/08/2017 01:53 am
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Bedrock of the Community
United States
12477 Posts |
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Are the two Lincoln cents spendable? My guess is no. It's actually a little interesting to me to see what forms they take as they deteriorate. Call it a morbid study. I've thought of doing my own expirements to compare the decay of Zincolns and Coppers when exposed to harsh elements. Someday...  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
7512 Posts |
Coinmasters, Your coin has a case of Leprosy   |
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Pillar of the Community
United States
5964 Posts |
I do see the similarity Chase! Good eye! Quote:
By the way, the U.S. Mint doesn't plate the blanks. They are purchased from an outside supplier What are you saying Spruett? Are you saying our mint doesn't make the blanks, or just sends them out to be plated? Either way, any mistakes are the ultimate responsibility of the mint. Every time they spend tax payer dollars they assume responsibilty for the production of our country's money whether they pay it in house or to an outside contractor. As far as I know, plating errors are considered mint errors. |
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Pillar of the Community
United States
3324 Posts |
I think I read somewhere (probably here) that the Mint buys all their planchets from private companies. True?
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
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Bedrock of the Community
United States
12477 Posts |
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Are you saying our mint doesn't make the blanks, or just sends them out to be plated? I understand that the blanks are punched and plated by a third party and delivered to the Mints. That only applies to cent blanks, though. Kind of like the paper that the BEP uses for notes. Edit: If anyone hasn't seen it yet, I recommend watching the Modern Marvels episode "How Money Is Made". It's on the CCF YouTube channel. For some reason Part 4 is missing from YouTube, though.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
10/08/2017 10:10 pm
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Pillar of the Community
United States
5964 Posts |
Thanks for the info Spruett, good stuff to know. You Tube has been in the news lately, my guess is they have edited it.
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Moderator
 United States
188560 Posts |
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I think I read somewhere (probably here) that the Mint buys all their planchets from private companies. True? Only for cents. The cent planchets come ready-to-stike from Jarden zinc. |
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Bedrock of the Community
United States
12437 Posts |
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Every time they spend tax payer dollars The US Mint does not receive any taxpayer dollars, their operations are entirely self-sufficient and they even return a profit to the General Treasury Fund every year. |
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Pillar of the Community
United States
2737 Posts |
Blistered plating, not zinc rot. The former generates hollow domes while the latter generates solid domes.
Error coin writer and researcher.
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Pillar of the Community
United States
5964 Posts |
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The US Mint does not receive any taxpayer dollars I've got to disagree with that Biokemist6. The last I heard the coins cost more to make than they're worth. Printing paper money makes money, but that's not done by the mint. The mint is under the auspices of the Treasury of the United States (We keep them afloat). The mint was created by congress and the buildings were built and maintained by taxpayer dollars. Not to mention all the federal employees and agencies involved in the processes. They all receive paychecks, retirement, healthcare, etc. Taxpayer dollars also pay for security of the facilities, mint employees, and reserves via the U.S. Mint Police, another Federal agency. I'm just scratching the surface here, but believe me, The American taxpayer more than pays for anything that comes out of of the mint. |
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Bedrock of the Community
United States
12437 Posts |
I suggest that you read the US Mint annual reports, they contain all financial information pertaining to US Mint operations. Seigniorage and net income for the past five years(2012-2016) totaled $2.21 billion with $1.91 billion transferred to the General Treasury Fund. Whether you believe it or not, the US Mint is indeed entirely self-sufficient in regards to operational funding. Quote:
Established in 1792, the Mint is the world's largest coin manufacturer. Since Fiscal Year (FY) 1996, the Mint has operated under the Public Enterprise Fund (PEF) (31 U.S.C. § 5136). The PEF enables the Mint to operate without an appropriation. The Mint generates revenue through the sale of circulating coins to the Federal Reserve Banks (FRB), numismatic products to the public, and bullion coins to authorized purchasers. Revenue in excess of amounts required by the PEF is transferred to the United States Treasury (Treasury) General Fund. Source: 2016 United States Mint Annual Report, page 2 |
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Bedrock of the Community
United States
12477 Posts |
I can see your point, CM. There seem to be many blurred lines in this whole mess. That's without speaking of the Fed. By the way, it's interesting, in the least, how the conversation turned from zinc rot to government appropriations.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
10/10/2017 03:08 am
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Bedrock of the Community
United States
17884 Posts |
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I've got to disagree with that Biokemist6. The last I heard the coins cost more to make than they're worth. Cents and nickels cost more than their face value to make, but the other coins cost less. Over all the mint makes a profit and they are self funded from that profit. Anything over and above their operating expenses is sent to the Treasury General fund. |
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Replies: 51 / Views: 10,133 |
First Page
Posted 10/08/2017 01:51 am
