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 Replies: 20 / Views: 2,927 |
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Pillar of the Community
United States
997 Posts |
The 2 US Mints producing circulation coins these days (Philly and Denver) each produce each type of circulating coins. Wouldn't it be more efficient for the mints to separate production of coin types and concentrate on a couple coin types instead of the entire series?
For example, the Philadelphia Mint would produce clad dimes and quarters. Nickels (single alloy) and Cents (plated) could be made at the Denver Mint.
Are transportation costs the main factor these days in having each mint make all 4 types of coins (6 if you count the rarely seen halves and dollar coins)?
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Pillar of the Community
United States
5207 Posts |
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Are transportation costs the main factor these days in having each mint make all 4 types of coins I think that is the main factor (at least on paper) I wonder how many more millions of $ are wasted warehousing all of the unwanted gold dollars. Remember when the mint (or more likely the government) blamed coin collectors for taking all of the coins out of circulation in 1965? Now the mint makes more coins and variates and trinkets to try to appeal to said evil collectors. If there were only P cents and nickels and D dimes and quarters how could they justify the prices asked for mint sets? What will they do if we finally go back to 1 quarter design per year?  Edited by jack jeckel
06/14/2015 11:10 pm
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Pillar of the Community
United States
589 Posts |
I'm almost certain that the reason the mints both produce each denomination of circulating coinage is (especially at this point in time) due to the extreme volumes of coins that are needed for circulation. Do you actually think that ONE mint could produce the billions of cents needed annually, for example? (If we would expand the size of the mint facilities and increase the number of machines for striking coins, then yes, but only then would it be a "yes")
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Bedrock of the Community
Australia
21786 Posts |
Current system is by far and away the most efficient.
It makes no difference if the coining presses are set up to produce pennies, nickels or quarters. Each branch has their own range of coinage presses.
The methods of producing collector coinage however, IS quite different, and best handled by a branch that specializes. Production numbers are relatively small, be they for individual coins ar sets. Specialized packaging is also required.
With circulating coinage, designs and master dies are prepared at the head mint. Only the working dies need to be prepared at branch mints.
Centralised administration, accounting and marketing at the head mint is more efficient.
This is age old and proven mint practice; receipt of raw materials and distrubution of the products that each branch does is easier.
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Bedrock of the Community
 United States
12822 Posts |
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I wonder how many more millions of $ are wasted warehousing all of the unwanted gold dollars. What makes you think it costs anything over and above existing costs to store them? Special vaults were not built just to house them... at least, not that I'm aware of. |
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Bedrock of the Community
United States
17884 Posts |
Actually that was one of the reasons they used to stop making the President and NA dollars for circulation. They had so many of them in storage they needed to build a new storage facility for them at a cost of $600K.
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Pillar of the Community
United States
1913 Posts |
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Wouldn't it be more efficient for the mints Unfortunately, efficiency is not a major factor in determining how operations are performed at the mint (or most any government agency). It's about keeping the budget a certain size and growing it year after year. I think they do OK considering they're under the government umbrella and have to operate with all of the associated bureaucracy, but there's no doubt that operations would be much more efficient if the US mint was operated like a for profit private company. |
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Pillar of the Community
United States
1192 Posts |
Hm but then it would be like the Canadian mint and we would have thousands of NLT :).
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Bedrock of the Community
United States
10038 Posts |
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Hm but then it would be like the Canadian Mint and we would have thousands of NLT :).
They are getting there. The following is just my opinion from having lived through those eras as a numismatist. I think the Canadian mint saw our bicentennial designs were hoarded - hence they saw a new avenue to make profit. People liked new designs since they were so different. So the RCM started making a new design every time the HM the Queen sneezed. After some years our own mint saw the RCM making oodles of profit from "different," and we got out State Quarters program. We already had the Sac coins, but the mint thought maybe people would collect a series of dollar coins with the presidents as avidly as they had the State Quarters. Hence they made a collectable series of dollar coins as well. Remember the more coins removed from circulation, the more demand for coins, and the more the mint is paid to produce even more coins. As reflected by Canadian collectors on our own forum, the RCM makes so many varieties (more profit), that there is no way to collect them all. I think, like in most hobbies, this scenario will end up killing itself and hurting the hobby. There are just too many "special" coins being made so that "special" is becoming the norm. Look at our own mint over the last few years. They are getting on the band wagon of "special." Eventually it will probably flop numismatically.. I think in the end people will see most of the excess coins as "junk" - it will only be a few that retain their purchase value. And having said that... I ordered a Bugs Bunny 20 for 20 from the Canadian mint just the other day - hey... its Bugs!  How much squash could a Sasquatch squash if a Sasquatch would squash squash? Download and read: Grading the graders Costly TPG ineptitude and No FG Kennedy halveshttps://ln5.sync.com/dl/7ca91bdd0/w...i3b-rbj9fir2 |
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Moderator
 United States
188342 Posts |
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I wonder how many more millions of $ are wasted warehousing all of the unwanted gold dollars. Would not be a problem if we ditched the costly one dollar note.  |
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Pillar of the Community
Canada
1747 Posts |
Actually the RCM started the whole thing with the 1992 Canadian Province/Territories quarters |
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Bedrock of the Community
United States
10038 Posts |
@jbuck  I admire enthusiasm... even if it is in favor of communist style totalitarianism! ...this is a joke folks... I really don't admire enthusiasm... Where is the tongue in cheek smiley when we need one? BTW - was in Canada a couple weeks ago... the inexpensive, long-lasting, "public-approved" ( ) polymer notes were actually very nice Seriously - it was interesting to hold another type of "plastic" in my hand. I can see where these really are a good idea. The clear Maple-leaf-shaped window in them is also an interesting idea. It was kind of neat to "look through" my money. Edited by Earle42
06/15/2015 1:29 pm
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Moderator
United States
23522 Posts |
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communist style totalitarianism! That's breathtaking, when you think about it. In 2013 the Denver Mint shipped (if my math is right) the equivalent of something north of 300 fully-loaded 18-wheelers of coin. Just in Cents alone. Another 25-plus truckloads of Quarters. 135 trucks of Nickels. 100 trucks of Dimes. I'd say transportation cost is a consideration. |
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Bedrock of the Community
United States
10038 Posts |
 Metal is very expensive to ship. The banks in Canada made mention to me of how much more it was costing them to have Loonies since when they went to ship them back for larger denominations of bills, it cost so very much more to ship 1,000,000 pieces of metal than 1,000,000 pieces of paper. They said they had to make the customers absorb the difference by raising prices on services. This is one of the unforeseen hidden costs the government never factored into how much would allegedly be saved by switching. Yes - it saved THEM money, but again the little guy got it in the end. I do believe I would like to see ALL our mints making everything - but only b/c I would like to see more S and W holes in my albums. Edited by Earle42
06/15/2015 2:16 pm
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Moderator
United States
188342 Posts |
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That's breathtaking, when you think about it.  Quote:
In 2013 the Denver Mint shipped (if my math is right) the equivalent of something north of 300 fully-loaded 18-wheelers of coin.
Just in Cents alone Sounds like a good reason to kill the cent. This is why it cost more than a cent to make a cent even if the material were free. |
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Pillar of the Community
United States
3135 Posts |
One question that might be asked is what if something caused one mint to shutdown, even for a small period of time? Both mints, I believe, would still have to have the capabilities to produce each denomination.
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Replies: 20 / Views: 2,927 |
Posted 06/14/2015 11:50 pm
