50,000 Ultra High Relief Gold Eagle Blanks, High Relief American Silver Eagle / ASE

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Author	Replies: 8 / Views: 1,934
VetStudent Valued Member United States 306 Posts	Posted 04/03/2014 9:30 pm Howdy Y'all I attended the US Mint forum this evening held at my county's local library as a precursor to tomorrow's official ceremony for the release of Shenandoah National Park quarter. Like most things in our rural county it was a small showing- with only 6 or 7 attendees. It was headlined by the Deputy US Mint Director, Mr. Peterson. He opened with a summary of recent productions and advancements in efficiency at the mint. He then opened the floor for questions and answers- as well as asking for some opinions on certain options/future offerings from the mint. My two main questions revolved around the silver eagle program. First I wanted to know if the concept for a design change of the silver eagle's reverse becomes serious- can the public be involved in submitting designs and/or voting for the final design. I drew the point that the commissions responsible for selecting new designs frequently selects designs that are at odds with the general popular opinion- case in point Civil Rights commemorative vs. citizen designed Baseball HOF. I summed it up by stating that any changes to the most popular bullion in the country (and world) should involve real private collectors. Mr. Peterson seemed to be honestly and candidly open to the idea. My other question regarding eagles was whether or not the mint could follow suit with the 2009 UHR and whether or not they were in planning stages for an Ultra-High Relief ASE. He acknowledged that the interest is there and it will be done, but that a formal proposal has yet to be presented to the Secretary of Treasury.After answering that question, he stated that he recently learned about 6 weeks ago that the US Mint is sitting on 50,000 blanks from the 2009 UHR. He simply asked "What should we do with them?" I honestly didn't know what to offer as a concept idea other than the 50th anniversary gold Kennedy offering-but assured him that they ABSOLUTELY should be used someway somehow! Of other, perhaps notable topics that came up: (1)- He received word today at noon that 316,000 of the silver baseball dollars have been sold! Not sure if that number has been made public elsewhere yet. He also stated that as production of the Baseball HOF gold and silver products gets ramped up, the ship dates would continually be moved upward. (2) It is being investigated whether the US Mint might be able to do well by getting a 3rd party to run high-end vending machines at airports that sold gold and silver products. (3) Lobbyists from various industries that rely on coinage met at the mint recently, but he declined comment on alternative metal compositions since research was still in progress. (4) He is looking into having the 10 pure gold Sacagewea dollars that are in Fort Knox being pulled from the vaults and placed around the country on exhibit. Report this Post to the Staff

Avshater22 Valued Member United States 337 Posts	Posted 04/03/2014 10:59 pm Cool information. I would love to vote on a reverse for the ASE. I would say submit a drawing but am in no way artistic. Report this Post to the Staff
SA4H Pillar of the Community United States 2764 Posts	Posted 04/04/2014 01:40 am Thank you for sharing. Some great info there. Report this Post to the Staff
basebal21 Bedrock of the Community 13014 Posts	Posted 04/04/2014 02:27 am Only the government could sit on 50k gold blanks and not figure out a use for them eating millions in loses as the metal content loses value. That said I am happy to hear that at least someone at the mint seems to have a head on their shoulders. The idea of getting the public more involved with the commemorative designs is a great one, really for all designs it would be a great idea. After all the public are who theyre trying to sell them too. While I am not opposed to the committee method, I am opposed to the current committee making any more design decisions. Almost every time they leave a great design on the table while picking a boring uninspiring one then wonder why the product struggles. The 5 star general coins should have been a hit, there were numerous fantastic designs to pick from but we got the same boring design on every single version. The baseball coin has the perfect design for the curved shaped so in this instance I am happy the design is the same, but excluding special circumstances they need to mix it up or at the very least pick better designs if they want sales to pick. To me though theyve lost my trust for their ability to make choices so getting rid of them and letting the public vote is a fantastic idea. Im not shocked at all the baseball dollars are over 300k in sales, those wont last much longer. The clads were the only ones I ever doubted whether they could sell out or not just because of the mintage limit, even those got over 100k very fast. A UHR ASE would be a fantastic idea, especially if they dont cheapen it with the mint to demand sales strategy. The vending machine idea is an interesting one. Save the research money though, just go ahead and put a couple test machines out instead of spending a few million on a study and let real life results dictate whether or not to keep rolling them out. Even if theyre only profitable in certain locations profit is profit and they dont have to be everywhere. They probably could get a gift shop chain to carry them at the airports as well or set up a little kiosk if they didnt want to spend the money on the machines. Those gold sacs really should be touring major coin shows and sitting in museums. Get them graded and protected and out and about for the public to enjoy or auction them off, Fort Knox is for bullion and theyre leaving a lot of money on the table just letting them sit there if thats their only plan for them. Report this Post to the Staff
Foxwoods Man Pillar of the Community United States 4901 Posts	Posted 04/04/2014 07:32 am Good work and a very informative report. Too bad it was in front of such a small crowd AND our luck that one of us was there.. Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 04/04/2014 12:09 pm Since the gold planchets are produced by outside contractors, and the government provides the gold used to make the planchets, why didn't they use the leftover planchets as part of the provided gold? The only way to use them as they are would be to make another 1 oz double thickness small diameter gold coin. Quote: It is being investigated whether the US Mint might be able to do well by getting a 3rd party to run high-end vending machines at airports that sold gold and silver products. Would they be selling the gold and silver products to them at a discount compared to the authorized distributors? There is nothing stopping any third party from setting up such machines right now. The only way I could see it benefiting the Mint would be if they sold them on their own account, and then they would have to handle the headache of restocking, vandalism, machine failure complaints etc. Report this Post to the Staff
welder Pillar of the Community United States 1037 Posts	Posted 04/05/2014 7:43 pm The Mint should hang on to them till 2019 and release a 10th Anniversary UHR. Report this Post to the Staff
perfessor Pillar of the Community United States 927 Posts	Posted 04/05/2014 8:21 pm This is really good information. It would be really nice if they would let the public vote on reverse designs for the ASE. I also think it would be great if the design changed every year, like the platinum coins do. And I think a UHR ASE would be a big hit. They would almost have to mint to demand, I think. Report this Post to the Staff
OldSkoolMadSkilz Pillar of the Community United States 2077 Posts	Posted 04/05/2014 9:54 pm Gold and silver vending machines? Where is the "rolls eyes" smiley when I need it? Report this Post to the Staff
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50,000 Ultra High Relief Gold Eagle Blanks, High Relief ASE