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Replies: 11 / Views: 1,299 |
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Pillar of the Community
United States
668 Posts |
I noticed that when they proposed to take the edge lettering off of the new Presidential dollars that the errors stopped coming out? Coincidence? What do you think?
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Valued Member
United States
206 Posts |
Is there going to be edge lettering in 2008-2016+?
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Valued Member
United States
277 Posts |
Maybe they just need a chance to get the errors corrected before Chicken Little started screaming "the edge is crumbling!"
Fatcat
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Pillar of the Community
United States
673 Posts |
I believe that when the Washington dollars were released, they were already striking the Adams dollars and after the errors on the Washingtons were discovered they began to change their manufacturing methods to try and alleviate these problems. Notice there were alot more Washington plain edge dollars than Adams Plain edge. I guess to try and stop the smooth edges from coming out they must have run some twice since the Adams had double struck edges, and since the Jefferson dollars have been released errors have dropped dramatically.
I guess they finally got it down how to keep the struck coins separated with edge and no edge yet bins. I believe that they started talking about stopping the edge lettering right about the time when they got their (you know what) together at the mint. So , I believe they were already working on the problem when the talk of removing edge lettering was publicized so it is coincidental.
As for edge lettering in the future - I have not heard anything since. I would think that since the errors have all but stopped, they will keep going with the edge lettering- as much as I would like to see it stopped to make this a one year type !
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Pillar of the Community
United States
7123 Posts |
Ya the US is leaps and bounds ahead of the rest of the world ,,in everything but edge lettering ,, many countries have had edge lettering on their coins for a very long time ,, and I have yet to see one that was messed up .
Mexico is one that comes readily to mind !
Its not rocket science and all of those errors or so called errors IMO are man made they are not a consequence of the minting process,they are not die errors ,they are not struck varieties !
They are human error or possibly human purposeful with malice of forethought Hype the new Dollar coins marketing machine dribble.
Ok I feel better now !
Metalman
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Pillar of the Community
United States
673 Posts |
I agree Metalman , we are so advanced....I am left to wonder why, after having edge lettered coins in the past (Bust halves come to mind ) , did they change the method of manufacture ? I could be mistaken but I think the edge lettering of yesteryear was struck "in collar" so not much chance of doubling or missing the edges. They added an extra step to manufacturing and now they have to deal with it. I too am of the belief that some of this could be purposely done by a mint employee. An observation (not fact and not an accusation) by Susan Headley about some errors found made me think even more about human intervention. Seems the last couple of Denver errors have been found pretty close to the mint itself (within less than an hour 's drive) And they are unique. A Sac with edge lettering found in circulation was one of them, I would have to go back and find out what the other one was- pretty fishy if you ask me. The Sac's are not even supposed to be circulating....
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Bedrock of the Community
United States
14454 Posts |
both of these coins you are mentioning just happen to be the two coins PCGS made a statement and put a price on their head to the first one who submitted one of these. The first was the faceless dollar with edge lettering ($2,500.00 to submitter) and the person was 1 hours drive from Denver Mint, and the second being the edge lettering Sacagawea dollar ($10,000.00 to submitter) and this submitter lived 8 miles from Denver mint and was a coin that wasn't minted for circulation but yet they say they found it in circulation. I believe $6,250.00 (half the money from both coins) would be plenty of a incentive for a mint employee to make sure one of these were made and be sure it was put in a friends hands who could then submit it to PCGS for the money
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Pillar of the Community
United States
673 Posts |
Thanks for the clarification Bryan, I forgot to mention that those coins had a price on their heads ! All the more reason to suspect foul play.
Reminds me of an Episode of "Monk" . An employee of the mint surreptitiously strikes a few errors and sneaks them out of the mint, not so far fetched I guess.
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Valued Member
United States
204 Posts |
It's all been a marketing ploy from the beginning. First they introduce coins with errors hoping the public will start buying rolls and search them (and then spending/circulating them after searching). Next they introduce new errors that are more "rare" because the increased value keeps people excited and interested. Then they announce (or disseminate through the grapevine) that they will end the edge lettering, thereby making this year's coins more rare (and therefore more desirable). I am sure next year if the edge lettering is ended there will be an error coin with edge lettering found. Every couple of months there will be something found. I am waiting to see if they come out with a new "error" for the '00 and '01 sackies - the mint has to move that inventory somehow. Or maybe they will announce a major melting of them (thereby making them scarce!)  .
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Bedrock of the Community
United States
17884 Posts |
quote: I noticed that when they proposed to take the edge lettering off of the new Presidential dollars that the errors stopped coming out? Coincidence?
No I agree with InfiniteInterst, by the time the Congress got around to reacting to the "problem" the mint had already done a great deal toward eliminating the problem making congressional action unneeded, but we get it anyway. quote: Is there going to be edge lettering in 2008-2016+?
In 2008 at least. The amendment forbidding the mint from spending money to mint lettered edge coins was removed from the appropriations bill, so there will be lettered edge President dollars in 2008. The Sac dollar bill also requires edge lettering on them when they begin in 2009, so unless they pass new legislation next year the lettered edge dollars will continue in subsequent years as well. (And except for an amendment submitted last May that never went anywhere, they have NEVER proposed removing the edge lettering from the dollar coins. Even the amendment that made it into the appropriations bill did not remove the lettering.) quote: am left to wonder why, after having edge lettered coins in the past (Bust halves come to mind ) , did they change the method of manufacture ? I could be mistaken but I think the edge lettering of yesteryear was struck "in collar" so not much chance of doubling or missing the edges. They added an extra step to manufacturing and now they have to deal with it.
The bust halves were lettered by a method similar to how the dollars are lettered today. Only they rolled the blanks between two dies each of which had half the lettering and today we use a roller and a single die that has the complete inscription. And the bust halves are well known for having blundered edges just like todays dollars. And they were making only a few million half dollars a year, not 1.2 billion. Even with the huge number of blank Washingtons that came out, the error rate for the president dollars as a whole is still only 0.006%. If you ignore the Washingtons and only look at the Adams coins and later then the error rate drops to 0.001%. For the Jeffersons 0.00001% The Saint-Gaudens eagle and double eagle did use a segmented collar to apply the edge during striking and had no problem with blundered edges, But that technology can't be applied the todays high speed horizontal striking presses. Or if it could the equipment would be so complex that it would be constantly breaking down resulting in even more downtime or errors. quote: I believe $6,250.00 (half the money from both coins) would be plenty of a incentive for a mint employee to make sure one of these were made and be sure it was put in a friends hands who could then submit it to PCGS for the money
They must be pretty desperate or are selling themselves way too cheap then. I know I wouldn't risk my comfortable annual salary, the chance of having two felony convictions on my record (Theft of government property and Conversion of government property and I bet they can come up with some other charges as well. Since there are two or more people involved, how about conspiracy to commit fraud?) and 15 to 50 years in a Federal prison for $7,000.
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Pillar of the Community
United States
6326 Posts |
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Pillar of the Community
United States
4867 Posts |
I despise edge lettering. It's terrible and I will not own any. That's how much I don't like it.
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Replies: 11 / Views: 1,299 |
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