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The New Nickel's Life Span...

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catman's Avatar
United States
954 Posts
 Posted 02/24/2005  10:15 am Show Profile   Bookmark this topic Add catman to your friends list Get a Link to this Message Number of Subscribers
There has been some rumors floating that the mint plans to keep the Buffalo designed Jefferson nickel after the commemorative series is done.

This was done once before with the Washington Quater. The senator's from Virginia got a bill passed that would require the nickel to go back to the Monticello.

Do you think congress will change their minds and keep producing the new nickel or not.? What do you think the reaction would be if they were to go back to the original reverse design.?

catman
Pillar of the Community
United States
2724 Posts
 Posted 02/24/2005  12:12 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
The Mint has no choice in the matter. The new law 2003 requires the Mint to reissue Jefferson and Monticello beginning in 2006 through FOREVER. The renditions will probably be different than the 1938-2003, but we will be stuck with it through our lifetime. What an arrogant stance for our generation.
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TheForce's Avatar
United States
4870 Posts
 Posted 02/24/2005  12:43 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
This is crazy. We the people are the ones who are using this money everyday of our lives. When it comes to laws like this, they should take more public input.

David

quote:
Originally posted by national dealer

The Mint has no choice in the matter. The new law 2003 requires the Mint to reissue Jefferson and Monticello beginning in 2006 through FOREVER. The renditions will probably be different than the 1938-2003, but we will be stuck with it through our lifetime. What an arrogant stance for our generation.

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Susanlynn9's Avatar
United States
5877 Posts
 Posted 02/24/2005  3:44 pm  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
Let's face it, our government has never been known for taking public opinion into account. Considering the fact that a change in design would generate more revenue for the government, it's very foolish not to change the coin designs. But foolishness has never stopped them before.
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longnine009's Avatar
United States
1247 Posts
 Posted 02/24/2005  4:15 pm  Show Profile   Bookmark this reply Add longnine009 to your friends list Get a Link to this Reply
But they don't have to go back to the old Monticello. I think we'll see a different version of it when it reverts back.
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ndgoflo's Avatar
United States
626 Posts
 Posted 02/24/2005  4:40 pm  Show Profile   Bookmark this reply Add ndgoflo to your friends list Get a Link to this Reply
If we have to have Monticello, (and according to the lawmakers, we do) I would like to see the Schlags original design used.
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crystalk64's Avatar
3147 Posts
 Posted 02/24/2005  5:48 pm  Show Profile   Bookmark this reply Add crystalk64 to your friends list Get a Link to this Reply
Congress would have to act very quickly to save the Buffalo nickel from extinction again. Personally I would like for them to take Jefferson, Monticello and the Virginia delegation out to some remote island and let them spend eternity living together! They could tell them they are the 51st state and the only coin and currency they could have for the rest of their state's history is the nickel they love so much. ONLY the nickel could be used in any of their transactions so they all would live happily, until the die they die, passing the nickel back and forth and, not to mention, their coin collections would be very simplified. I could just see them sitting around their living rooms, in their replica Monticello homes, admiring their Jefferson nickel collections and the huge coin shows with nothing but Jefferson nickels. Ah yes, nothing but the Jefferson nickels, nothing but Virginian pride, in their own little imaginary world they have created! LOAD the boats and lets get this dream on the road!!!

Unless something happens very quickly we will probably, for the most part, never see the 2005 Buffalo actually in circulation and our children will never know what a coin buffalo hunt is really like!!! I just thank God I don't live in Virginia as I would be forming a posse at this very moment or calling out the Minutemen again!
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TheForce's Avatar
United States
4870 Posts
 Posted 02/25/2005  12:08 am  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply
I think our coinage should change with the times. It's becoming so stale with the same designs for decades. And not to mention with boring presidents. I'm not even sure why presidents are always the choice to grace our coins. Surely there are other worthy things that could be on our coins. I think the buffalo is a great american symbol that could be used. Also the statue of liberty would be a good choice. I really beleive that congress has no intrest for coinage changes. And I think the mint should be in charge of coinage designs, not congress.

David
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United States
2724 Posts
 Posted 02/25/2005  09:44 am  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
When the Virginian legislators heard rumors of the Mints intention to change the nickel design in 2003, they wrote a bill and hand walked it through congress. No one complained, so it passed very quickly. Of course, it was not made public until the law had already paseed. Now it will require a new law to change it. The Fed has no authority to change the design of the nickel. All other coins (except dollar) can be changed by the Fed without congressional approval.
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United States
2724 Posts
 Posted 02/25/2005  10:02 am  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
Here is the law governing the Nickel. It was written and passed in 2002. Sorry about stating 2003. Check out section 3 (A)

107th CONGRESS
2d Session
H. R. 4903


_______________________________________________________________________


IN THE SENATE OF THE UNITED STATES

July 23, 2002

Received; read twice and referred to the Committee on Banking, Housing,
and Urban Affairs

_______________________________________________________________________

AN ACT



To ensure continuity for the design of the 5-cent coin, establish the
Coin Design Advisory Committee, and for other purposes.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``American 5-Cent Coin Design
Continuity Act of 2002''.

SEC. 2. DESIGNS ON THE 5-CENT COIN COMMEMORATING THE BICENTENNIAL OF
THE LOUISIANA PURCHASE.

(a) In General.--Subject to subsection (b) and after consulting
with the Coin Design Advisory Committee and the Commission of Fine
Arts, the Secretary of the Treasury may change the design on the
obverse and the reverse of the 5-cent coin for coins issued in 2003,
2004, and 2005 in commemoration of the bicentennial of the Louisiana
Purchase.
(b) Design Specifications.--
(1) Obverse.--If the Secretary of the Treasury elects to
change the obverse of 5-cent coins issued during 2003, 2004,
and 2005, the design shall include an image of President Thomas
Jefferson in commemoration of his role with respect to the
Louisiana Purchase and the commissioning of the Louis and Clark
Expedition to explore the newly acquired territory.
(2) Reverse.--If the Secretary of the Treasury elects to
change the reverse of the 5-cent coins issued during 2003,
2004, and 2005, the design selected shall commemorate the
Louisiana Purchase.
(3) Other inscriptions.--5-cent coins issued during 2003,
2004, and 2005 shall continue to meet all other requirements
for inscriptions and designations applicable to circulating
coins under section 5112(d)(1) of title 31, United States Code.

SEC. 3. DESIGNS ON THE 5-CENT COIN SUBSEQUENT TO THE COMMEMORATION OF
THE BICENTENNIAL OF THE LOUISIANA PURCHASE.

(a) In General.--Section 5112(d)(1) of title 31, United States
Code, is amended by inserting after the 4th sentence the following new
sentences: ``The obverse of any 5-cent coin issued after December 31,
2005, shall bear an image of Thomas Jefferson. The reverse of any 5-
cent coin issued after December 31, 2005, shall bear an image of the
home of Thomas Jefferson at Monticello.''.
(b) Design Consultation.-- The 2d sentence of section 5112(d)(2) of
title 31, United States Code, is amended by inserting ``, after
consulting with the Coin Design Advisory Committee and the Commission
of Fine Arts,'' after ``The Secretary may''.

SEC. 4. COIN DESIGN ADVISORY COMMITTEE.

(a) In General.--Subchapter III of chapter 51 of title 31, United
States Code, is amended by inserting after section 5136 (as amended by
section 5 of this Act) the following new section:
``Sec. 5137. Coin Design Advisory Committee
(a) Establishment.--There is hereby established the Coin Design
Advisory Committee (in this section referred to as the ``Advisory
Committee'').
``(b) Membership.--
(1) Appointment.--The Advisory Committee shall consist of 9
members, as follows:
``(A) The Chief of Staff to the Secretary of the
Treasury.
``(B) 4 persons appointed by the President--
``(i) 1 of whom shall be appointed for a
term of 4 years from among individuals who are
specially qualified to serve on the Advisory
Committee by virtue of their education,
training, or experience as a nationally or
internationally recognized curator in the
United States of a numismatic collection;
``(ii) 1 of whom shall be appointed for a
term of 4 years from among individuals who are
specially qualified to serve on the Advisory
Committee by virtue of their experience in the
medallic arts or sculpture;
``(iii) 1 of whom shall be appointed for a
term of 3 years from among individuals who are
specially qualified to serve on the Advisory
Committee by virtue of their education,
training, or experience in American history;
and
``(iv) 1 of whom shall be appointed for a
term of 2 years from among individuals who are
specially qualified to serve on the Advisory
Committee by virtue of their education,
training, or experience in numismatics.
``(C) 1 person appointed by the Speaker of the
House of Representatives from among individuals who are
specially qualified to serve on the Advisory Committee
by virtue of their education, training, or experience,
including staff employees of the House of
Representatives, who shall serve at the pleasure of the
Speaker.
``(D) 1 person appointed by the minority leader of
the House of Representatives from among individuals who
are specially qualified to serve on the Advisory
Committee by virtue of their education, training, or
experience, including staff employees of the House of
Representatives, who shall serve at the pleasure of the
minority leader.
``(E) 1 person appointed by the majority leader of
the Senate from among individuals who are specially
qualified to serve on the Advisory Committee by virtue
of their education, training, or experience, including
staff employees of the Senate, who shall serve at the
pleasure of the majority leader.
``(F) 1 person appointed by the minority leader of
the Senate from among individuals who are specially
qualified to serve on the Advisory Committee by virtue
of their education, training, or experience, including
staff employees members of the Senate, who shall serve
at the pleasure of the minority leader.
``(2) Continuation of service.--Each appointed member may
continue to serve after the expiration of the term of office to
which such member was appointed until a successor has been
appointed and qualified.
``(3) Vacancy.--
``(A) In general.--Any vacancy on the Advisory
Committee shall be filled in the manner in which the
original appointment was made.
``(B) Acting officials may serve.--In the event of
a vacancy in a position described in paragraph (1)(A),
and pending the appointment of a successor, or during
the absence or disability of any individual serving in
any such position, any individual serving in an acting
capacity in any such position may serve on the Advisory
Committee while serving in such capacity.
``(4) Chairperson.--The Chairperson of the Advisory
Committee shall be the person serving in the position described
in paragraph (1)(A) (or serving in an acting capacity in such
position).
``(5) Pay and expenses.--Members of the Advisory Committee
shall serve without pay for such service but each member of the
Advisory Committee shall be reimbursed from the United States
Mint Public Enterprise Fund for expenses incurred in connection
with attendance of such members at meetings of the Advisory
Committee.
``(6) Meetings.--The Advisory Committee shall meet, not
less frequently than quarterly, at the call of the chairperson
or a majority of the members.
``(7) Quorum.--7 members of the Advisory Committee shall
constitute a quorum.
``(c) Duties of the Advisory Committee.--The duties of the Advisory
Committee are as follows:
``(1) Advise the Secretary of the Treasury on any design
proposals relating to circulating coinage and numismatic items,
including congressional gold medals.
``(2) Advise the Secretary of the Treasury with regard to
any other proposals or issues relating to any items produced by
the United States Mint that the Secretary may request of the
Advisory Committee.
``(d) Administrative Support Services.--Upon the request of the
Advisory Committee, the Director of the United States Mint shall
provide to the Advisory Committee the administrative support services
necessary for the Advisory Committee to carry out its responsibilities
under this section.
``(e) Annual Report.--
``(1) Required.--Not later than January 30 of each year,
the Advisory Committee shall submit a report to the Committee
on Financial Services of the House of Representatives and the
Committee on Banking, Housing, and Urban Affairs of the Senate.
``(2) Contents.--The report required by paragraph (1) shall
describe the activities of the Advisory Committee during the
preceding year and the reports and recommendations made by the
Advisory Committee to the Secretary of the Treasury.
``(f) Federal Advisory Committee Act Does Not Apply.--The Federal
Advisory Committee Act shall not apply with respect to the Committee,
except that each meeting of the Advisory Committee shall be open to the
public following publication of a notice of the meeting in the Federal
Register.''.

Passed the House of Representatives July 22, 2002.

Attest:

JEFF TRANDAHL,

Clerk.
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Susanlynn9's Avatar
United States
5877 Posts
 Posted 02/25/2005  10:07 am  Show Profile   Bookmark this reply Add Susanlynn9 to your friends list Get a Link to this Reply
For the life of me I can't imagine what would have possessed them to even consider such a law, let alone enact it. This may be one of the stupidest decisions ever made in the history of US coinage. If the Mint didn't already generate revenue based on collectors, I could understand it. But to knowingly eliminate a coin from bringing in revenue (which is in essence what this does) is ludicrous and foolish.
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catman's Avatar
United States
954 Posts
 Posted 02/25/2005  10:26 am  Show Profile   Bookmark this reply Add catman to your friends list Get a Link to this Reply
Susan,

The answer to that is simple. MONEY. They figured that the nickel promoted tourism to Virginia and wanted to keep for that reason. I wrote my congresspersons and complained but they voted for it without even thinking as a favor to the Virginia delegation.

catman
Pillar of the Community
United States
2724 Posts
 Posted 02/25/2005  10:39 am  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
The money brought in by collectors is very miniscule compared to general commerce. The U.S. government has no fear of collectors not buying from the mint. They know all too well that we as a whole will continue to buy whatever lousy designed piece of metal that they offer to us. Regarless of quality, design, metal content, size or market value.

What truely boggles my mind is the lack of people willing to step up and say something. The internet is full of talk, yet ask the masses to join in on a project and they do nothing. The ANA boasts a very small percentage of members compared to collectors. They do not market themselves very well, and seem to have little desire to change. The Fed has no backbone to step up and change the current designs. Each of the last four treasurers have publicly stated that they are "NOT" willing to remove a dead president from our coins or currency.
This process is totally political, and until "we" as a whole stand up and become the greasy wheel, it will continue to squeak.
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catman's Avatar
United States
954 Posts
 Posted 02/26/2005  04:26 am  Show Profile   Bookmark this reply Add catman to your friends list Get a Link to this Reply
Hey Gang,

Here is an interesting statement directly from the mints public relations office regarding the redesign of the nickel on a permanent basis.

In 2006, the nickel will return to a version of the Jefferson and Monticello nickel, although it, too, is being considered for a redesign.

It looks as though we may have a chance of a permanent design after all...!!!!

catman
Pillar of the Community
United States
2724 Posts
 Posted 02/26/2005  2:49 pm  Show Profile   Bookmark this reply Add national dealer to your friends list Get a Link to this Reply
While I expect the 2005 obverse will be the last we will see, there are several drawings of the new Monticello reverse. The original design along with the finished design used from 38-03 are also in consideration.
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longnine009's Avatar
United States
1247 Posts
 Posted 02/27/2005  07:53 am  Show Profile   Bookmark this reply Add longnine009 to your friends list Get a Link to this Reply
quote:
Originally posted by catman

It looks as though we may have a chance of a permanent design after all...!!!!

catman



I wonder if these guys that curve modern hobo nickels can carve Robert E. Lee from Jefferson and Traveler from the buffalo? It might make an interesting satire piece.
Edited by longnine009
02/27/2005 6:57 pm
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