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 Replies: 10 / Views: 1,769 |
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Pillar of the Community
United States
2608 Posts |
In studying more about the series I collect, namely Barber dimes and Washington quarters, I often come across remarks in both primary and secondary sources of regular Americans going to the Treasury Department building in Washington, D.C., and obtaining new circulating coins back in the day. Q. David Bowers' book on Barber coins shows pictures of the "counting-floor cash room [in the Treasury building] . . . where new Barber-design coins were prepared for distribution to the public [with] customer windows." That was from the 1890's. His other book about Washington quarters describes how the ANA instructed its members in 1932 to write the Treasury Department for new coins since "examples of current coinage were available for face value plus a handling charge." My questions is, how long did this policy last? When could you no longer go directly to the Treasury Department building or write to it for examples of that year's coinage, like swapping out any old cent for a new 1909 LWC? As far as I know, I can't approach the front desk at the Treasury Department to get a new 2017-D Jefferson nickel.   *** Moved by Staff to a more appropriate forum. *** |
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Pillar of the Community
United States
4211 Posts |
March 26, 1964 was the last day the Morgan dollars that were in storage were sold to collectors at face value. I think that was the end of selling any coins for face value. |
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Pillar of the Community
United States
1346 Posts |
Informative post, thanks!
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Valued Member
United States
309 Posts |
You can still do in person exchanges at the Treasury of a sort. Main Treasury on 9th Street NW in DC has both a Mint Store in the lobby where you can buy coins in the catalog with no shipping charges and no tax, but also they provide vending machines for even exchange of bills for the current production of America the Beautiful Quarters in singles or rolls with no limit. They used to have gold dollar machines but stopped once dollars became NIGC. The machines may have "P" or "D" coins. |
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Bedrock of the Community
United States
11880 Posts |
The 9th street location is the HQ of the US Mint. Main Treasury is next door to the White House on the corner of 15th St and Pennsylvania Ave NW.
The Mint HQ does have a small retail store open to the public in the lobby.
The Bureau of Engraving and Printing by the Tidal Basin has a store that is larger and is across the street from the cherry trees gifted to the US by the Japanese govt.
Both stores sell premium coins and kitsch like in the mint's online store. No coins at face value.
I would try a bank if you want coins at face value.
Better yet, buy some coinstar machines and get paid for taking in others' coins.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Pillar of the Community
 United States
2608 Posts |
Thanks everyone for your responses so far! I was referring specifically to the building for the Department of the Treasury located at Fifteenth Street and Pennsylvania Avenue, NW, not the US Mint or the Mint HQ. Quote:March 26, 1964 was the last day the Morgan dollars that were in storage were sold to collectors at face value. I think that was the end of selling any coins for face value. This is what I initially thought as well, but in looking online yesterday about the Cash Room that I mentioned in my original post, I discovered that it closed on June 30, 1976. That was the room where the public could, among other things, "exchang  new money for old," per the Treasury's web page about it: https://www.treasury.gov/about/hist...sh-room.aspxWhat I am wondering is, when could you no longer go to the actual Treasury Department or write to them for new coins? Now I assume it was when the Cash Room closed, but maybe this specific service ended before the room closed, or maybe mail requests continued afterward? |
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Bedrock of the Community
United States
11880 Posts |
https://www.treasury.gov/about/hist...present.aspxGOLDApril 5, 1933 - President Franklin Roosevelt issued an order making it illegal to hoard gold coin, gold bullion or gold certificates. Violation of this order was punishable by a $10,000 fine or 10 years in prison, making it a felony to own gold. Eventually, gold coins from 1933 and earlier were exempted from this rule so coin collectors could avoid prosecution. June 5, 1933 - The United States abandoned the gold standard. All existing contracts and currency that required redemption in gold were no longer considered valid. December 28, 1933 - President Roosevelt issued Executive Order 6102, ordering anyone who still held gold certificates or gold coins of non-numismatic value to deliver them to the Treasurer of the United States. January 17, 1934 - It became illegal for private citizens to own gold certificates following the implementation of the Gold Reserve Act of 1934. January 30, 1934 - The Gold Reserve Act withdrew gold coins from circulation, provided for the devaluation of the dollar's gold content, and created the Exchange Stabilization Fund. April 24, 1964 - Secretary C. Douglas Dillon removed the restrictions on acquiring or holding gold certificates. April 26, 1969 - Pre-1934 gold coins could be imported into the country and traded without a license from the Department of the Treasury for the first time since 1933. The Treasury decided that preventing the import of pre-1934 gold coins while allowing the same coins to be traded freely domestically was inconsistent and unfair. December 31, 1974 - President Ford lifts the 40-year ban, enacted in 1933, on gold ownership by U.S. citizens. SILVERMarch 25, 1964 - Secretary C. Douglas Dillon announced that Silver Certificates would no longer be redeemable for silver dollars. They would remain redeemable for silver bullion until June 24, 1968. June 24, 1968 - The exchange of silver certificates for silver bullion was discontinued.
IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.comEdited by numismatic student
06/20/2017 8:34 pm
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Bedrock of the Community
United States
11880 Posts |
This is a picture of the exchange counter at the Treasury Cash Room in 1863. I will post this in my numismatic history thread because it is relevant there and I keep cool pictures there in one place.  IN NECESSARIIS UNITAS - IN DUBIIS LIBERTAS - IN OMNIBUS CARITAS THE MAN IN THE ARENA, Theodore Roosevelt at the Sorbonne Paris on April 23, 1910: " It is not the critic who counts; not the man who points out how the strong man stumbles or where the doer of deeds could have done better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood, who strives valiantly, who errs and comes up short again and again, because there is no effort without error or shortcoming, but who knows the great enthusiasms, the great devotions, who spends himself in a worthy cause; who, at the best, knows, in the end, the triumph of high achievement, and who, at the worst, if he fails, at least he fails while daring greatly, so that his place shall never be with those cold and timid souls who knew neither victory nor defeat." My coin website: https://fairfaxcoins.com |
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Bedrock of the Community
United States
17884 Posts |
Quote:
What I am wondering is, when could you no longer go to the actual Treasury Department or write to them for new coins? I don't know about the cash window but as for writing to them for new coins probably 1947. Before that time you could write them and get examples of the current years coins (and any coins of previous years that they still had available) but you were limited to two specimens of each date, mintmark, and denomination at face value plus postage. In 1947 they began selling the mint sets that contained two specimens of each denomination and mintmark for the current year. There would be no reason at that point to continue exchange of individual coins by mail. Also they wanted to get away form the hassle of all the correspondance. |
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Pillar of the Community
United States
2608 Posts |
Quote:
In 1947 they began selling the mint sets that contained two specimens of each denomination and mintmark for the current year. There would be no reason at that point to continue exchange of individual coins by mail. That makes sense, if they stopped the exchange by mail it would be an impetus for collectors to buy the new mint sets. That also explains why they were double mint sets since you could get two examples of each coin beforehand. Thanks Conder! I wonder if that transition also applied to the Cash Room? |
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Pillar of the Community
United States
4409 Posts |
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Replies: 10 / Views: 1,769 |
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Posted 06/20/2017 05:11 am
