| Author |
 Replies: 9 / Views: 2,297 |
|
|
Pillar of the Community
United States
4868 Posts |
|
|
|
|
Pillar of the Community
United States
1373 Posts |
Well, the 2009 nickels DID get cut down quite a bit, but still 39+ million coins from each mint is still A LOT! Sure, the year before that they made so many that it was hard not to walk down the sidewalk with tripping on a nickel. If they actual mintage got cut down to the one or two million rate then they would be rarer, but they still made more than enough to satisfy current needs. The main problem now is just waiting for whenever the Federal Reserve does some cleaning and finally spits out the 2009's (kind of like when they finally cleaned out millions of Morgan dollars in the 60's. The nickels are probably at their highest value right now, and will drop eventually. |
|
Moderator
 United States
188612 Posts |
I agree. There are still more than enough for those who want/need them.
|
|
Pillar of the Community
United States
613 Posts |
Are you saying that there are 2009 (or other older nickels) in storage and will be released as demand dictates? I know that has always been the case with halves and dollars (and I've kind of assumed that it took a while to move out ATB Quarters), but I would have thought that cents through dimes go out to the banks almost as quickly and their minted. Do we *know* that there are 2009 nickels still in storage? |
|
Moderator
United States
188612 Posts |
It depends on how the inventories of FED vaults are turned.
If they always bring the older boxes to the front (first in, first out) then the few 2009 boxes that made it into the system would not have been covered up by the "Great Coin Jar Dump" boxes the banks were returning (which caused the halt). In other words, no 2009 boxes laying in wait.
However, I think LIFO (last in, first out) is more likely, given it requires less work. This means there could be some boxes of 2009 coins hiding in the back of a vault, waiting for all of the dump boxes to be moved out.
Mintage numbers went back to normal the next year. The unknown is how many 2009 boxes (if any) were covered up by the influx if 2010+ coins.
|
|
Pillar of the Community
United States
997 Posts |
Quote:
However, I think LIFO (last in, first out) is more likely, given it requires less work. This means there could be some boxes of 2009 coins hiding in the back of a vault, waiting for all of the dump boxes to be moved out. You would think this would be obviously true but picture this: A large vault with a single door. Guys roll dollies full of coin in and retrieve coin when needed. Are they going to go to the trouble of rotating the stock of coin to put the new stuff in back like the bread guy does at the grocery? Personally I think they are gonna just push the older stuff back and take out what is in front. Unless the vault has doors on both ends and is a one-way only operation FIFO may not be in play here. There could be coins dating back from whenever the vault was last empty. |
|
Moderator
United States
188612 Posts |
I think you just reinforced the point I was making. What you describe is LIFO. The last stuff added to the vault is the first stuff taken out. It is easier than FIFO, which is rotating older stock forward.
|
|
Pillar of the Community
United States
997 Posts |
 I read your post and could have sworn I saw FIFO, How did you edit it and eliminate the "edit" tag?  |
|
Pillar of the Community
United States
2271 Posts |
The mint and each FED branch are supposed to rotate their coin stocks (FIFO). This began in 1972 and was done religiously until 1999. Of course much of the work of the FED is actually contracted out so it may not have always been done correctly. Also during slow times a lot of coins go into storage and these can be bypassed by new releases when demand increases. But they did an excellent job of rotating stocks.
Since 1999 they've tried to rush new releases straight to the banks so some of the older coins can end up sitting for a while.
I'd be very surprised if there are any brand new coins in storage right now older than 2011. There may be large numbers of circulated coins that have been sitting since 2008 in some districts like Seattle but pretty much it looks like it's all in circulation right now. This means coins dated 2013, 2014, and 2015 are in the system and being added to circulating coinage.
I got a slider '86-D quarter yesterday which is a major oddity. It may have been unintentionally spent or come from a mint set.
Time don't fly, it bounds and leaps.
|
|
Moderator
United States
188612 Posts |
Quote:
I read your post and could have sworn I saw FIFO, How did you edit it and eliminate the "edit" tag? Well, I discuss both, but said LIFO was more likely. No edits. Trust me, I have no problem admitting when I made a mistake.  |
| |
Replies: 9 / Views: 2,297 |
|
Posted 11/16/2015 10:07 am
