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 Replies: 78 / Views: 11,772 |
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Pillar of the Community
United States
1358 Posts |
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I don't understand why they are still making these. If there's a ton sitting in bank vaults why don't they just use those and save money on making new $1 coins? Because they'll be making money with these, no pun intended. They'll be NIFC coins sold to collectors in Mint/Proof sets at least, and I'm guessing rolls and/or bags like the Native American dollars are now. Each coin costs about a nickel to produce. Sold at $1+ each, that's big money in seigniorage for the Mint. |
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Pillar of the Community
United States
1748 Posts |
Kill the $1 note or kill the bill, Congress.
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Pillar of the Community
 United States
4587 Posts |
Yes, interesting how there isn't even a pretense about circulation in the bill. I too think the quarter would be a better choice.
-----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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Moderator
 United States
54280 Posts |
It is all related to politics and the benefits paid by those who profit by coin production to congressional campaign coffers.
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
United States
613 Posts |
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Moderator
United States
187446 Posts |
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Just another way to suck money from the collectors. If you do not like them, do not buy them. It is that simple.  Quote:How about spending them? I have a nice stack of presidential and Sacagawea dollars here and I tried to spend them on two occasions. One occasion they were plainly refused, the other one the cashier thought I tried to fool her with fake Monopoly money. I have spent quite a few around here, usually with little fanfare. I got some oohs-and-ahs a time or two, that is about it. No ever refused them though, which is odd because I would expect at least one or two complaints. I must add that I have not tried to spend them in a very long time, not since the post office stopped giving them out (which is where I would get them). |
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Bedrock of the Community
United States
17884 Posts |
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I don't understand why they are still making these. If there's a ton sitting in bank vaults why don't they just use those and save money on making new $1 coins? Because by law they HAVE to make them dollars. The law requires them to make the President dollars until the last eligible President has been "honored". And another provision of the law requires the Sac/NA dollars to be made to a certain percentage of the President dollars. Well the law said they had to make them but it didn't say how many they had to make so since 2012 they have only made enough for the proof and mint sets and some extra to sell directly to collectors in rolls and bags. Now that Reagan has been produced next year they don't have to make ANY President dollars and since they don't HAVE to make any NA dollars either. But they probably will continue making the NA dollars but just for sale to collectors because it is a money making endeavor. Every one they make costs 20 to 30 cents and a collector buys it for $1.30 or more. It's a pure six to nine million dollar or more profit each year so why give it up. |
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Pillar of the Community
 United States
4867 Posts |
Here is a Coin World article where the author suggests that this program be done on quarters after the ATB series ends instead of issuing more NFIC dollars. I must disagree. There are already too many different quarters. It's not simple anymore where we could just get 1 P and 1 D mint quarter every year and be done. Now there are 5 different quarter designs each year under the various mint marks and compositions. Where does it end? http://www.coinworld.com/voices/lou...in_prog.html |
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Moderator
United States
187446 Posts |
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Where does it end? It does not. You cannot un-ring that bell. |
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Pillar of the Community
Germany
1062 Posts |
I guess they're making enough money selling these in sets and things that it's worth continuing.
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Pillar of the Community
United States
4867 Posts |
Even with low mintages I doubt these will ever be worth much. Since these are NIFC, there will be tons of these things in mintstate condition.
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Pillar of the Community
United States
705 Posts |
Just wrote my congressman to vote against this bill or eliminate the dollar bill. Let's see if he responds. I have no faith in my rep or anyone in Congress.
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Pillar of the Community
United States
624 Posts |
Maybe Congress will vote against it if you send them money. Congress loves money. It helps pass laws.
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Moderator
United States
187446 Posts |
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Just wrote my congressman to vote against this bill or eliminate the dollar bill. Let's see if he responds. I have no faith in my rep or anyone in Congress.  Quote:
Maybe Congress will vote against it if you send them money. Congress loves money. It helps pass laws.  |
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Bedrock of the Community
United States
17884 Posts |
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Congress loves money. It helps pass laws. And sometimes helps keep laws from being passed. |
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Replies: 78 / Views: 11,772 |
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Posted 09/21/2016 12:22 am
