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Upcoming 2018 Reverse Proof American Innovation Coin

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wyzeguy's Avatar
United States
1044 Posts
 Posted 08/06/2019  11:32 am  Show Profile   Bookmark this reply Add wyzeguy to your friends list Get a Link to this Reply

Quote:
I just checked the listing and the HHL is 5.


Never noticed the HH limit. Guess I'm in for 5. Don't see a sell out occurring the first day so will prolly have to wait til day 2 to pick up more.
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jbuck's Avatar
United States
188414 Posts
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BadDog's Avatar
United States
1374 Posts
 Posted 08/07/2019  1:17 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
I submitted a FOIA request a couple of days ago requesting production information by month and year for this coin. We'll see what I get back if anything.

For anyone who's interested, I received a response to my FOIA request in today's mail. Submitted the request on 7/10, response is dated 7/31 and received today. All in all, it took about a month. Bottom line is that 101,289 coins were minted in Dec 2018. So, as one would expect, the Mint conformed to the legislation, but it's still a mystery why they delayed the release. Maybe that fancy new packaging had something to do with it

Here's the actual response

Upcoming-2018-Reverse-Proof-American-Innovation-Coin
Edited by BadDog
08/07/2019 1:18 pm
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United States
587 Posts
 Posted 08/07/2019  2:07 pm  Show Profile   Bookmark this reply Add bzookaj to your friends list Get a Link to this Reply
Interesting. The mint produced 100k in a week, but the listed mintage limit is 75k.
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BadDog's Avatar
United States
1374 Posts
 Posted 08/07/2019  2:29 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply
The FOIA request was really to verify that the coins were minted in 2018. The production amount wasn't really relevant since it's the product limit that determines ultimate mintage.

The Mint doesn't routinely release production figures for numismatic products, so, you usually don't see how many coins are struck to get to the official mintage/product amount for the item. It does seem like striking over 1/3 more than the product limit for this coin is excessive though
Edited by BadDog
08/07/2019 2:31 pm
Pillar of the Community
United States
1913 Posts
 Posted 08/07/2019  7:20 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
BadDog, awesome job! So assuming that they only sell 75k, I wonder if they'll officially list the mintage as 75k or 101,289.
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mellamobradley46's Avatar
United States
430 Posts
 Posted 08/07/2019  8:16 pm  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
Bravo, that was a great idea and interesting response
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BadDog's Avatar
United States
1374 Posts
 Posted 08/07/2019  9:29 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
So assuming that they only sell 75k, I wonder if they'll officially list the mintage as 75k or 101,289.
I believe that the official mintage should end up being whatever is sold (up to 75k) and the excess above this should end up in the Mint's metals recycling program
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mellamobradley46's Avatar
United States
430 Posts
 Posted 08/08/2019  09:40 am  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
How does the FOIA request process work? Can you ask for documentation that shows how the 75k limit was established despite the 101,289 mintage?
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BadDog's Avatar
United States
1374 Posts
 Posted 08/08/2019  10:31 am  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
How does the FOIA request process work?
The https://www.foia.gov/ website will tell you pretty much everything about FOIA. Here's a link to the Treasury Department's online FOIA submission form as well.


Quote:
Can you ask for documentation that shows how the 75k limit was established despite the 101,289 mintage?
Well, you can of course ask for anything, but you may not get the response you want (hence the appeal process outlined in the FOIA above letter). Everything in the US Government is not FOIAable so to speak. There are 8 standard exemptions (see here). Also, records don't have to be created anew to answer a request.

IMHO, a question about why a policy decision was made, such as the one you're postulating, typically result in a no records found response or something like that. This is because decisions are typically documented and an official record is created, but the rationale leading to those decisions typically are not.

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mellamobradley46's Avatar
United States
430 Posts
 Posted 08/08/2019  10:45 am  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
Understood. I am going to ask just to see if anything comes back. If so, I'll post it here too.
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United States
1913 Posts
 Posted 08/08/2019  12:44 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
but the rationale leading to those decisions typically are not.

Rationale? I think you're being quite generous. What kind of business would make a product before deciding how many they want to sell? Answer: One that is a monopoly and doesn't have to answer to the owners for a lack of rational decisions. That said, I think your point is spot on from what I understand.
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Reno32's Avatar
United States
500 Posts
 Posted 08/08/2019  2:41 pm  Show Profile   Bookmark this reply Add Reno32 to your friends list Get a Link to this Reply
The guy on coin collector sailing American Innovation Coins 2018 MS67/PR69 FDOI LE 3 coins set for $79+ is that good for graded coins.thanks
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United States
1913 Posts
 Posted 08/08/2019  5:07 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
You can easily buy those three coins in that condition for less than $15. $55 for a 3rd party look at a modern coin and put it in a slab doesn't seem like a good deal to me.
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wyzeguy's Avatar
United States
1044 Posts
 Posted 08/08/2019  5:34 pm  Show Profile   Bookmark this reply Add wyzeguy to your friends list Get a Link to this Reply

Quote:
The guy on coin collector sailing American Innovation Coins 2018 MS67/PR69 FDOI LE 3 coins set for $79+ is that good for graded coins.thanks


Just about everything on coin collector can be found for much less.
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