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 Replies: 40 / Views: 4,842 |
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Valued Member
United States
223 Posts |
I have a feeling that the mint will eventually remove these from circulation. Has anybody heard any rumors to this effect?
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Pillar of the Community
United States
621 Posts |
I really doubt the tiny fraction of SBA's in circulation would be worth the time for them to be removed personally. I also see no reason they would really. |
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Valued Member
 United States
223 Posts |
It's not as tiny as you might think. I would say 1 out of every six dollar coins that come through the store are SBDs.
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Moderator
 United States
14463 Posts |
why do you feel they will be removed from circulation?  They will always be worth a dollar in the US, and the mint has already eaten cost of their production. |
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Valued Member
United States
223 Posts |
I read something somewhere that the mint was looking into taking them out of circulation. They make the new "gold" dollars look absolutely terrible. I save each one I find (a bunch of '79s and 1 '80) and an '81 proof and I have a '99 on the way to at least complete the yearly collection.
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Moderator
United States
14463 Posts |
There was a big uproar when they first came out about they looked too close to a quarter, but they were will produced for three years, then again in 1999.
I might be wrong, but I seriously doubt the mint would expend resources to remove them from circulation.
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Bedrock of the Community
13014 Posts |
It wouldnt make any sense for the mint to spend money actively removing them. Theyve been paid for and if people want to use them they want to use them. I would guess you experience isn't the norm, any dollar coin being used is rare by comparison to other change but I know a lot of places that would say they havent seen one in forever. Quote:
They make the new "gold" dollars look absolutely terrible. The gold dollars are really what makes the gold dollars look absolutely terrible. They turn the ugliest color possible rather quickly in circulation. They look nice in mint sets and albums but thats it |
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Pillar of the Community
United States
4901 Posts |
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I have a feeling that the mint will eventually remove these from circulation ..and I have "a feeling" I will hit the Mega Millions for $600 million Neither one is gonna happen  |
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Pillar of the Community
United States
653 Posts |
The current COINS act states SBAs will be remove from circulation, but will be offered to collectors/dealers. Last I read, there was a single digit chance of the act passing all 3 branches.
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Pillar of the Community
United States
1037 Posts |
If (and that's a BIG 'if') the government was planning to remove SBA's from circulation, it would be a gradual process by keeping the dollar coins as they came in. I doubt if congress would pass anything like the Pittman Act to collect Susan B's. The SBA's and gold dollars are still a viable working currency with the casino and vending machine industries. The general public rarely uses them for commerce. I think the big mistake the Mint made with release of the 1999 proof was that it was a clad coin rather than a silver. In 1999, the Mint resumed striking silver and a silver proof SBA would have made an awesome last issue coin. I myself have a full set of SBA's, MS & proofs. |
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Bedrock of the Community
United States
17884 Posts |
It wouldn't be the Mint withdrawing them from circulation it would be the Fed, and if the Fed did pull them, what would they do with them? Then you have the problem of HOW to separate them from the President, Sac, and NA dollars. You probably can't do it by machine because the newer coins were specifically designed to react the same way as the coppernickel clad coins. That means visually sorting and separating them by hand. Not really practical. Quote:I think the big mistake the Mint made with release of the 1999 proof was that it was a clad coin rather than a silver. In 1999, the Mint resumed striking silver and a silver proof SBA would have made an awesome last issue coin. Problem is that would require new legislation because the SBA was never authorized to be produced in silver. And since they didn't know for sure they would even need to strike 1999 SBA's until Sept or Oct of 1999, there most likely would not have been enough time to get the legislation through. |
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Valued Member
United States
143 Posts |
I doubt they will ever remove them, they will just fade away like the Ike. The SBA was a big mistake though, it does look way too much like the quarter if you're not paying attention. I've gotten SBA's in change mistaken as a quarter, and I've confused cashiers by trying to pay with them. The golden dollar on the other hand is easily recognizable and most people know what it is. I also do rather like the patina they get after being circulated, not sure why they get hated on so much. |
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Moderator
United States
188052 Posts |
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The gold dollars are really what makes the gold dollars look absolutely terrible. They turn the ugliest color possible rather quickly in circulation. They look nice in mint sets and albums but thats it. I agree. Quote:
The current COINS act states SBAs will be remove from circulation, but will be offered to collectors/dealers Yup... Quote:
Requires the Board of Governors of the Federal Reserve System (Federal Reserve Board) to sequester all $1 coins bearing the design common to those $1 coins minted and issued from 1979-1981 and again in 1999.
Allows the release of such sequestered coins to collectible coin dealers and countries that have adopted the U.S. dollar as their base unit of exchange. Quote:
Last I read, there was a single digit chance of the act passing all 3 branches. 6% as I write this.  https://www.govtrack.us/congress/bills/113/hr3305 |
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Pillar of the Community
United States
7840 Posts |
I always thought that the "Carter Quarter" looked like George had a hangover. Although I do have one in my collection.
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Valued Member
United States
223 Posts |
The "Coins Act" must be where I read that they were removing them from circulation.
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Moderator
United States
188052 Posts |
I am sure you are right. That link has been posted before.
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Replies: 40 / Views: 4,842 |
Posted 12/15/2013 02:05 am
