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Anyone Collecting Those Innovation Dollars?

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99075 Posts
 Posted 06/07/2019  11:30 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I wish we'd get rid of the dollar bill and circulate the dollar coins...that would be a kick in the arse for the hobby. More people filling holes in albums.
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2 Posts
 Posted 06/16/2019  1:15 pm  Show Profile   Bookmark this reply Add IHC73 to your friends list Get a Link to this Reply
I love the design of the American Innovation Dollar and I am proud that my State (New Jersey) will be among the first coins in the series (other than the introductory one that I am very happy to own).

jbuck- I agree as well. So much money would be saved if the Government decided circulating and reusing dollar coins was the better option. Not to mention the environmental benefits of putting a halt on burning so many old notes after the 5-7 year lifespan. Sure, people might be frustrated that their pockets would be heavier and hold more coins, but the dollar coin is certainly lighter than the four quarters already sitting in the average American's purse or bag.

Long story short, unless the Treasury Department removes the $1 note from circulation, people (other than like minded numismatists here) most likely will not switch over to the dollar coin voluntarily.
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3501 Posts
 Posted 06/16/2019  3:49 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Actually, a recent GSA study found the opposite - bills are cheaper than coins. Different assumption (based on recent data) as to how long a bill lasts.

What is really amazing is that nobody did a sensitivity analysis in the original study(ies) that would have shown how dependent the result is on the initial assumption. That's like week two of any scientific data analysis course.
-----Burton
47 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, OnLinw Coin Club
Owned by four cats and a wife of 37 years (joined 1983)
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2383 Posts
 Posted 06/16/2019  9:01 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
We can't change they $20 bill for another 10years but we can honor more Americans on coins...give me coins. Make a dollar and two-dollar coin..at least metal is somewhat tangible, though really base. Better than paper.

KK
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1685 Posts
 Posted 06/16/2019  11:43 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
Actually, a recent GSA study found the opposite - bills are cheaper than coins. Different assumption (based on recent data) as to how long a bill lasts.

Link please?
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623 Posts
 Posted 06/17/2019  01:56 am  Show Profile   Bookmark this reply Add redlock to your friends list Get a Link to this Reply
@Bret:

see: https://www.gao.gov/assets/700/697778.pdf

Bottom line: The US missed the point where a discontinuation of the One Dollar bill would have saved money. It's sad, I know.
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 Posted 06/17/2019  3:25 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
We will be cashless long before the get off their duffs to make any real changes.
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 Posted 06/18/2019  7:05 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
Couple interesting quotes

From the summary:


Quote:
... the lifespan of the $1 note has more than
doubled since a 2011 GAO analysis, from 3.3 years to 7.9 years...


From the details:


Quote:
A key assumption in our analysis is the extent to which the public may hold more cash when notes are replaced by coins. Because of differences in how people use notes and coins, the public may need more than one coin for each note than would otherwise have been
demanded. For example, people may take coins out of their pockets and store them at the end of each day, rather than retain them in their wallets as they do notes. These factors cause coins to circulate more slowly than notes, and more $1 coins would need to be maintained in circulation to meet the public's demand for $1 notes.


And


Quote:
Initial number of $1
coins in circulation

3 billion held by the public; 1 billion stored
with the Federal Reserve

We based this assumption on data from the Mint and the Federal Reserve. We assumed that there are 3 billion coins held by the public. Some have been lost and some are not actively in circulation. We assume that 1 billion of these coins enter active circulation in the replacement scenario.


So that's roughly 9 coins per person held... do you know where yours are?
-----Burton
47 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
Member: TNA, FtWCC, NETCC, OnLinw Coin Club
Owned by four cats and a wife of 37 years (joined 1983)
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2383 Posts
 Posted 06/20/2019  4:59 pm  Show Profile   Bookmark this reply Add Kopper Ken to your friends list Get a Link to this Reply
Mine are under my bed.

KK
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1429 Posts
 Posted 07/31/2019  1:11 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
For anyone interested the 2018 dated reverse proof American Innovation Dollar coins go on sale Aug.14th for $9.95 limited to 75k pieces.
TBD the 2019 Reverse proof coins and the 2019 proof set.

Kind of wish they would do a uncirculated set of the coins for each year. I don't want to buy bags or rolls of each design for the Ps and Ds and can't really trust what I'll get buying them online... maybe I'll just do proofs of this series? I don't really know yet... maybe buy the Ps and Ds already graded somewhere so I know they won't be a hot mess when I receive them.
Edited by Big-Kingdom
07/31/2019 1:12 pm
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17329 Posts
 Posted 07/31/2019  1:29 pm  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

Quote:
For anyone interested the 2018 dated reverse proof American Innovation Dollar coins go on sale Aug.14th for $9.95

You mean they struck these last year and have sat on them for 8 months?
Gary Schmidt
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1685 Posts
 Posted 07/31/2019  1:57 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply

Quote:
You mean they struck these last year and have sat on them for 8 months?

Exactly. 75,000 just waiting around to be offered for sale. It seems like a release early in the year would have been better from a promoting the series standpoint. We'll be swimming in innovation dollars at the end of this year.
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 Posted 07/31/2019  2:30 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I am guessing the delay is because this one comes in a fancier OGP than last year's regular proof.

http://www.coincommunity.com/forum/...ge=3#3025138
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 Posted 07/31/2019  3:34 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
I haven't really seen a reason why they didn't release it sooner but maybe they were on the fence about the entire reverse proof series and struck the introductory reverse proof coin in 2018 and just sat on it until they were sure they would continue the series, and then had to wait on packaging ect. Likely why the rest of it's sitting on TBD. I guess they were prepared to just scrap the 75K of the reverse proof if they decided against doing the series.

My guess is it was an afterthought, that after they made the proof and more limited edition reverse proof they were like "oh snap, if we do release the reverse proof people will expect a series of reverse proofs , it's "introductory"! What do we do now Dave?" "Hmmmmm....lets just lock them up for a bit and figure it out sometime in 2019, now GET BACK TO WORK!"
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 Posted 12/24/2020  7:59 pm  Show Profile   Bookmark this reply Add wulffy11 to your friends list Get a Link to this Reply
I will have the entire P & D roll set to date, including the introductory year, once my GA P&D and MD P&D rolls arrive. I just ordered them tonight and taking inventory I realized I forgot to order the Georgia ones last year. I have all the proofs but no reverse proofs. The reverse proofs seem a bit of an overkill since they are all individual.
Edited by wulffy11
12/24/2020 8:04 pm
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