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 Replies: 14 / Views: 1,828 |
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Pillar of the Community
921 Posts |
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Bedrock of the Community
United States
11951 Posts |
Interesting article.
I have always thought have a similar problem here in
the U.S.
Not just collectors.
I think there must be millions of households in the U.S.
that have small and large stashes of coins, Most of the
time because people don't take the time to turn them
in. Or just use them.
Edit ... I am in no way saying the U.S should have a law
banning the amount of coins a person can have.
I just think it would be nice to have a program to get the
non collecting citizens to turn in their coin. Get them back
into circulation. Then less would have to be made.
Edited by GR58
05/26/2015 08:38 am
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Moderator
 United States
187840 Posts |
Quote:
I just think it would be nice to have a program to get the
non collecting citizens to turn in their coin. Get them back
into circulation. Then less would have to be made. Instead of charging a fee, maybe the Coinstar machines can pay a percentage for depositing coin.  As long as there is seigniorage to be made, the government will never incentivize this. Oh, wait, they lose money on cents and nickels.  |
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Bedrock of the Community
United States
17884 Posts |
Quote:
I just think it would be nice to have a program to get the
non collecting citizens to turn in their coin. Get them back
into circulation. Then less would have to be made. Problem is it wouldn't work. The government tried back during WWII so they wouldn't have to produce as many coins and save metal for the war effort. Even with the patriotic zeal rampant in the country the effort was unsuccessful. You might get better results if you offered more than face value for the coins if they were turned in, but that would pretty well defeat the purpose. If you can make money making coins, why would you loose money paying people to turn in coins you have already made. |
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Pillar of the Community
United States
1314 Posts |
Doesn't the US Government benefit from people hoarding/collecting? And don't they encourage it? Lincoln's life in stages, Presidents, their spouses, states, parks and the list goes on. What's next? Pets of the White House and States official food? I'm not knocking collectors that enjoy these issues, I just think it would be hypocritical for the government to discourage hoarding.
Then again, if government institutes a program that is so successful at liter removal that all liter is removed, they'll hire a second crew to go out and disperse liter just to keep the first crew employed.
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Pillar of the Community
United States
7390 Posts |
Chute, we already have states favorite food, think 2004 Wisconsin  |
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Bedrock of the Community
United States
20753 Posts |
I am in favor of banning coin collecting for everyone one Earth, EXCEPT ME. Now that would be great. Everyone would have to turn over all their coins to me. All coins too. I can picture it all now. Rooms and rooms full of coins, coins, coins. |
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Moderator
United States
187840 Posts |
Quote:
Doesn't the US Government benefit from people hoarding/collecting? And don't they encourage it? Yes, for dimes and larger. For cents and nickels, they we lose.  The only time hoarding is discouraged is when production cannot keep up with demand (see the 1960's). This may be the case in the Philippines. This is not the case here. We can pump out billions of cents to meet demand, even though it is a colossal waste of our money. |
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Bedrock of the Community
United States
17884 Posts |
The quite in the OP does appear in the article as a caption for the picture, but nowhere in the article do they make any mention of making coin collecting illegal. Quote:
I have always thought have a similar problem here in
the U.S.
Not just collectors.
I think there must be millions of households in the U.S.
that have small and large stashes of coins, Most of the
time because people don't take the time to turn them
in. Or just use them. That was part of the problem during the coin sharage in the early 60's. And as one possible solution legislation actually was introduced to make coin collecting illegal here in the US, and to head off roll speculators etc, it was to be illegal to sell any coin for more than its face value. |
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Valued Member
United States
337 Posts |
How would they get rid of their collections? And would this be only for their own coins, or would international coins be included?
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Pillar of the Community
Canada
3692 Posts |
"Baccay identified people keeping too many coins at home, the numbers of coins being placed on religious altars, kept in piggy banks, and swertres (an illegal numbers game) accumulations as the real reasons coins don't circulate. He also blamed Automatic Tubig Machines and pesonet Internet cafes where a peso is paid for every five minutes service. Baccay went as far as to identify the cafe coffee maker as a place where coins are being hoarded. - See more at: http://www.numismaticnews.net/artic...u3pwIQ.dpuf"So their government dislikes people who save their money, religious organizations, gamblers (I can sympathize with this one really), and people who move the economy. What exactly do they think coins are made for? If your one coin can barely buy anything why even mint it at all? "it was to be illegal to sell any coin for more than its face value." This is probably impossible to pull off, since somebody somewhere will always want a specific thing and pay extra for it. And doesn't it help the economy to make a market for these things? It's impossible to regulate this nonsense legislation. We should just ban banning things. |
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Pillar of the Community
United States
1599 Posts |
You should'nt be posting about some of us hoarding coins, the fed will want to tax us for the privilege.
Edited by jprine
05/27/2015 8:29 pm
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Moderator
United States
187840 Posts |
Quote:
You should'nt be posting about some of us hoarding coins, the fed will want to tax us for the privilege.  |
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Pillar of the Community
United States
1158 Posts |
They didn't specifically define "hoarding." I wouldn't think keeping a few of each mintage to be a "hoard". Many collectible coins are out of mint and circulation anyway.
If you are the kind of guy with buckets of copper pennies in your basement, then maybe that qualifies!
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Moderator
United States
187840 Posts |
Thankfully (?) I am not that guy.  However, there is this guy.  |
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Replies: 14 / Views: 1,828 |
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Posted 05/26/2015 10:22 am
