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 Replies: 198 / Views: 33,644 |
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Pillar of the Community
978 Posts |
Now that it has hit 12:00 am meaning it is officially midnight I would like to start the thread where we report finding 2016 dated coins in circulation. as it is jan 1 2016 it is possible though unlikely that any will be gotten today.
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Moderator
 United States
187446 Posts |
I suppose that someone had to start the topic eventually.   |
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Pillar of the Community
United States
6130 Posts |
The Mint does not release coins of the current year until February, if I remember correctly.
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Pillar of the Community
 United States
4587 Posts |
Well... the mint doesn't release anything directly. The mint mints and issues coins to the FRBs. The FRBs provide coins to "depository institutions" http://www.federalreserve.gov/payme...in_about.htmQuote:
As the nation's central bank, the Federal Reserve issues and processes Federal Reserve notes. The Federal Reserve also distributes coin through depository institutions. The thirty Federal Reserve Bank cash offices provide cash services to approximately 9,200 banks, savings and loans, and credit unions in the United States. The remaining depository institutions obtain currency and coin from correspondent banks rather than directly from the Federal Reserve. and Quote:
Coin
The Federal Reserve's role in coin operations is more limited than its role in currency operations. As the issuing authority for coins, the United States Mint determines annual coin production. The Reserve Banks, however, influence the process by providing the Mint with monthly coin orders and a 12-month rolling coin-order forecast. The Mint transports the coin from its production facilities for circulating coin in Philadelphia and Denver to all of the Reserve Banks and the Reserve Banks' coin terminal locations.
The Reserve Banks distribute new and circulated coin to depository institutions to meet the public's demand. While the Reserve Banks store some coin in their vaults, they also contract with coin terminals to store, process, and distribute coin on behalf of the Federal Reserve. Armored carrier companies generally operate the coin terminals; the coin terminals have improved the efficiency of the coin-distribution system. So basically before you see it, it has to make it from the mint (in Ballistic Bags) to the coin terminals (oh, Loomis or somebody else), be wrapped and distributed to a bank or the local supermarket. Usually takes a few weeks or more... -----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Pillar of the Community
United States
613 Posts |
hold your collective breaths.... ;-)
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Valued Member
Panama
137 Posts |
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Pillar of the Community
Canada
535 Posts |
Those are proof coins. Would they not be from sets and not intended for circulation?
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Bedrock of the Community
United States
12804 Posts |
Those are pre-release auctions and will ship after they are released by the mint in Jan. I bet they're planning on cracking open the Congratulations and Birthday sets.
10 people have already committed to $10 for the 2016-S cent. Quite the premium, considering you can buy the 5-coin set directly from the U.S. Mint for $20.
The quarters auction is actually fairly tempting... decent price for 6 quarters including shipping.
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Pillar of the Community
United States
624 Posts |
I was going to say I saw a lot of presales for proofs. Somebody who is planning to buy whole rolls and then resells them coin by coin once they arrive.
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Valued Member
Panama
137 Posts |
that would be an evil way to take advantage of people...
But I will probably not see any 2016 coins until June-August because I live in Panama and they only ship here coins with Panamanian design, we would need an American to come here and spend them, I didn't got to see a 2015 coin till december so I guess I would have to wait.
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Valued Member
United States
398 Posts |
Picked up two sets of quarters, one for myself and a second for grandkid!
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Pillar of the Community
United States
562 Posts |
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Valued Member
Panama
137 Posts |
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Valued Member
Canada
109 Posts |
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Pillar of the Community
United States
2233 Posts |
Haven't seen any yet.
They're still loading their supply of 2015-D cents and dimes in my area. With quarters and nickels there's no telling what you could get in change.
If I recall correctly, I heard that back in the year 2000, the Mint was so good with its coin distribution that the first coins started turning up as soon as the millennium celebrations ended.
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Pillar of the Community
United States
4085 Posts |
'ello my lovelies!  Edited by KenKat
01/23/2016 9:35 pm
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Replies: 198 / Views: 33,644 |
Posted 01/03/2016 03:45 am
