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Upcoming 2018 Reverse Proof American Innovation Coin

 
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 Posted 06/14/2019  11:23 pm Show Profile   Bookmark this topic Add mellamobradley46 to your friends list Get a Link to this Message
I got a mailer from the mint that says a multi-year program takes off in 2019 and mentions product 18GE which is a reverse proof 2018 American innovation coin. Isn't it kind of odd to begin minting a non circulated coin with a date from the previous year? I didn't see it on the product schedule or couldn't find it by searching the product code, but I doubt it's an error.
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 Posted 06/15/2019  12:51 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
Interesting. I suppose I need to get one to go with the proof I lot last year.
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 Posted 06/15/2019  06:55 am  Show Profile   Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
Yup...kinda weird

I would guess another printing error
Edited by Foxwoods Man
06/15/2019 07:15 am
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 Posted 06/15/2019  07:47 am  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
(ii)First coin.—Notwithstanding subparagraph (A), if the Secretary finds that it is feasible and cost-effective, the Secretary may mint and issue a $1 coin in 2018 to introduce the series of coins described in this subsection, that—
(I)has the obverse described under paragraph (2)(A);
(II)has a reverse that bears the inscription "United States of America" and "American Innovators" and a representation of the signature of President George Washington on the first United States patent issued;
(III)has the edge-incusing described under paragraph (2)(C); and
(IV)the design for which has reviewed by#8239;[3] the Citizens Coinage Advisory Committee.

Looks to me like the authorizing legislation restricts the minting of the introductory coin to 2018. So, if this is a real product, it seems like it would have to have been minted last year and held for issuance this year
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 Posted 06/15/2019  09:30 am  Show Profile   Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply
Question following would be "Why?"
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 Posted 06/15/2019  10:50 am  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
There seems to be some loophole, it doesn't say the introductory coin is limited to 2018 for issuance.
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 Posted 06/15/2019  10:58 am  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
The coin is priced at $9.95.
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 Posted 06/15/2019  12:06 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
The coin is priced at $9.95.

Yes, the product and pricing announcement is in next Monday's (June 17,2019) Federal Register.


Quote:
There seems to be some loophole...

No loophole needed...unless they're minting the coins in 2019
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 Posted 06/15/2019  12:32 pm  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
Thanks for the link. Maybe on Monday I'll call the number listed and ask when they were minted
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 Posted 06/15/2019  12:48 pm  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
I also looked at the authorization law for this series and found this section which raises another question about the reverse proof coins. I guess the mint does play legalese and thinks if it doesn't say they can't do it, it means they can.

(6) Issuance of numismatic coins.--The Secretary may mint and
issue such number of $1 coins of each design selected under this
subsection in uncirculated and proof qualities as the Secretary
determines to be appropriate.
Edited by mellamobradley46
06/15/2019 12:49 pm
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 Posted 06/15/2019  1:34 pm  Show Profile   Check Foxwoods Man's eBay Listings Bookmark this reply Add Foxwoods Man to your friends list Get a Link to this Reply

This is gonna be interesting
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 Posted 06/15/2019  1:55 pm  Show Profile   Bookmark this reply Add BadDog to your friends list Get a Link to this Reply

Quote:
I also looked at the authorization law for this series and found this section which raises another question about the reverse proof coins.

IMHO this isn't an issue. A "Reverse" Proof coin is still a proof coin, it's just that the dies are polished differently than a "normal" frosted proof coin.

To me, the only issue is when the coins were struck. The way I read the legislation, it seems that all introductory coins were required to be struck in 2018.

Plus, the legislation also states

Quote:
(C)Edge-incused inscriptions.—
(i)In general.—
The inscription of the year of minting or issuance of the coin, the mint mark, and the inscription "E Pluribus Unum" shall be edge-incused into the coin.
(ii)Preservation of distinctive edge.—
The edge-incusing of the inscriptions under clause (i) on coins issued under this subsection shall be done in a manner that preserves the distinctive edge of the coin so that the denomination of the coin is readily discernible, including by individuals who are blind or visually impaired.

So, if the coin is dated 2018 and issued in 2019, then I believe the legislation requires it to have been minted in 2018, but I suppose this clause could also be interpreted to allow the 2018 date since the Innovation dollar was first issued in 2018

This is definitely does not seem to be a business as usual coin for the Mint
Edited by BadDog
06/15/2019 2:16 pm
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 Posted 06/17/2019  9:59 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
Does not seem like a typo to me... but time will tell.
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 Posted 07/08/2019  7:39 pm  Show Profile   Bookmark this reply Add mellamobradley46 to your friends list Get a Link to this Reply
It's on the product schedule now for August 18
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 Posted 07/08/2019  8:44 pm  Show Profile   Bookmark this reply Add Bret to your friends list Get a Link to this Reply
That's crazy. I wonder if they'll just tell us how many were minted. Or will they actually mint a 2018 coin in 2019?
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