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Thoughts On American Innovation Reverse Proof $1 Coins?

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 Posted 10/06/2021  7:57 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
They are not commemoratives, but circulation coins, albeit NIFC. So there is no requirement that they are pulled off sale at the end of the year.

They will stay there in the catalog for years, selling a few at a time.

Why? Because when they were monetized, the mint booked the $1 face minus the cost of manufacture (8 or 9 cents) as "profit", technically seigniorage. If the mint melts them down, they have a "loss" of that same 90 +/- cents per coin. It costs the mint next to nothing to store them, list them in the catalog and sell a few.
-----Burton
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 Posted 10/06/2021  9:04 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
I've bought the P & D issues together as a year date set from a dealer after May for just under $2.00 each. The proof and reverse proofs from the mint. This year the rp's are issued as a set rather than individually which I think is much better since it's far cheaper than individually as previously released. And yes, I also believe they are an under the radar series.
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 Posted 10/09/2021  5:15 pm  Show Profile   Bookmark this reply Add atticguy to your friends list Get a Link to this Reply
I just noticed today that the reverse-proof set is priced at $28.00. It's four dollars more than the base proof set, but at least it's $18.00 cheaper than the 2020 coins.
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 Posted 10/09/2021  6:24 pm  Show Profile   Bookmark this reply Add Eagle4Life to your friends list Get a Link to this Reply
^^^Yes the price is great news. Also good that the set is still limited to 50K units.
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 Posted 10/10/2021  07:43 am  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
$7.00 each coin is more like it. I might get back in on the reverse proofs afterall.
I still hate to think about doing this set for another decade though. I ain't no spring chicken!
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 Posted 10/10/2021  10:39 pm  Show Profile   Bookmark this reply Add perfessor to your friends list Get a Link to this Reply
I had originally decided against buying the reverse proof coins because they were only sold individually (at least before). And I think the difference between the proof and reverse proof innovation dollars are not significant, so I only bought the proof set. Other coins look much more different between proof and reverse proof. Since I doubt this has changed in my mind, I will stick to the proof coins only.

I think the biggest reason these don't sell much is because there simply is no marketing of these coins. Outside the mint, no one is really selling these coins. So the general public doesn't even know they exist. They were never produced for actual circulation, and probably never will. But I still hold out hope that someday there will be no paper dollar and all dollar coins can circulate again!
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 Posted 10/11/2021  11:35 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
I just noticed today that the reverse-proof set is priced at $28.00. It's four dollars more than the base proof set, but at least it's $18.00 cheaper than the 2020 coins.



Quote:
$7.00 each coin is more like it. I might get back in on the reverse proofs afterall.
Same. Good thing Dansco has not sold me an album yet. I have to get the "proof album" to hold both Proof and Reverse Proof dollars.

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 Posted 10/12/2021  12:07 am  Show Profile   Bookmark this reply Add Conder101 to your friends list Get a Link to this Reply

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But I still hold out hope that someday there will be no paper dollar and all dollar coins can circulate again!

Even if they did, don't expect the Innovation dollars to circulate. The mintages are low, basically just what they needed for the Mint sets and the roll and bag sets sold directly to collectors for a premium. Unless of course they were to eliminate the dollar note while the series was still ongoing. Then the later issues would probably be issue in large enough quantity for them to circulate.
Gary Schmidt
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 Posted 10/12/2021  09:20 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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Unless of course they were to eliminate the dollar note while the series was still ongoing. Then the later issues would probably be issue in large enough quantity for them to circulate.
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 Posted 10/25/2021  4:49 pm  Show Profile   Bookmark this reply Add Parnelli917 to your friends list Get a Link to this Reply
I buy coins for different reasons. Some, because I hope they might increase in value. Some, because they represent history. Some, because I just like the coin's design. While I own some AIs, I'm not a huge fan of the coins. Guess I want a dollar coin to be big and heavy. But no matter what my reason, I'm always happy when a coin shows up in the mail. So, you're the only one that matters when it comes to your reasons for buying them. Just enjoy them.

BTW, I think I still have and unopened "Billy Beer". According to eBay, worth about .99 cents after 40+ years!
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 Posted 10/25/2021  6:45 pm  Show Profile   Bookmark this reply Add BStrauss3 to your friends list Get a Link to this Reply
And it will cost you a $1,500 ER visit if you open and drink it.
-----Burton
47 year / Life ANA member (joined 12/1/1973)
Life member: Numismatics International, CONECA
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Owned by four cats and a wife of 37 years (joined 1983)
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 Posted 10/26/2021  07:54 am  Show Profile   Bookmark this reply Add DanFielding to your friends list Get a Link to this Reply
^^Billy Beer! That's funny. My mother has a can of JR Ewing beer on top the fridge in her basement. You can but it for more than the Billy Beer on ebay.
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 Posted 10/26/2021  09:01 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

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And it will cost you a $1,500 ER visit if you open and drink it.
"Hold my beer..."
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 Posted 10/26/2021  10:09 am  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
Out for delivery today.
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 Posted 10/26/2021  10:11 am  Show Profile   Bookmark this reply Add Raised on rock to your friends list Get a Link to this Reply
Not really, but the regular proof set is.
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