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Replies: 22 / Views: 5,669 |
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Pillar of the Community
979 Posts |
Due to the virus and people not spending money and the fact most experts are predicting that the next recession or depression is likely to happen in the 2Q if it has not started already due to how the stock market keeps falling.
Do you think they will order less coinage?
Do you think that 2020 coins will become key dates?
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Valued Member
United States
425 Posts |
No, they will not be key dates. This virus does show us the sheep mentality and irrational fears and the like are alive and well, unfortunately.
Invest in toilet paper. Some people are getting $100 a roll.
Edited by Erscolo 03/16/2020 6:50 pm
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Valued Member
United States
128 Posts |
no. 2021 may see less coins minted if the economy is in a state. But honestly, for everything that is actually, really effected by this (travel companies, restaurants, anything closed or losing business for a few weeks) there is a winner (medical industry, hand sanitizer makers, TP makers, guns & ammo, etc have all had runs on them). So the stock mess is just randomness that will settle out, and the 'value' will go back up when ppl get back to work, with some winners and losers but a net of zero or thereabouts. It was artificially high, so it may not quite get back to where it was, but its not going to be a real depression either.
This was really a practice run. Now we can see how unprepared we are to handle an actual dangerous situation, by our complete failure (world wide) to handle something that is on par with the flu.
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Pillar of the Community
United States
4085 Posts |
I think the orders are already in and production started for 2020 coins. The economy cratered in October of 2008 in the last big financial crisis, so they had more lead time to scale back production.
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Moderator
 United States
188342 Posts |
The Great Coin Jar Dump of 2008 meant lower than normal mintages for 2009.  If we have another couch cushion searching coin jar dumping infusion of coins into the system then I would expect lower mintages for 2020 and/or 2021. So ask yourself this: How difficult was it to fill your 2009 holes? This time may or may not be comparable. It just depends on how much of the 2010-2109 coins made in back into couch cushions, car ashtrays, coin jars, and other reclaimable stash locations. 
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Pillar of the Community
United States
1613 Posts |
I see where you're headed with the question as it relates to the pandemic. As several have mentioned, yes there is a mad spending rate induced by panic and fear. Within the last week alone many states, my own Pennsylvania, have enacted states of emergency whereby non-essential business are to close at two week intervals until this subsides. To my knowledge, the Treasury Department's suppliers of metals and bullion do not fall under that classification. Meaning, that barring employees at the refineries voluntarily quarantining themselves , manufacturing facilities will continue supply as needed. With that in mind, and with an abundant on hand supply ready to go, mintage numbers should remain steady unless by chance these business' close for an extended length of time. Which would need to be months, not weeks.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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Valued Member
United States
128 Posts |
many states, my own Pennsylvania, have enacted states of emergency whereby non-essential business are to close
My area has had exactly 1 case for over a week now according to the state Dpt of health. Yet stuff is closed, Ive been forced to work from home, stores are a disaster, etc. I shudder to think of what they may do if we get a second case.
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Pillar of the Community
United States
2589 Posts |
Its very likely that the mintages will be less than ordinary if there a sustained recession, just like what happend in 2009. However even the 2009 dated coins have millions made and thus are in no way key dates. For example for Jefferson nickels, there were less than 40 million 2009 P minted as compared to over 570 million 2007 P dated nickels. Despite that, the 2009 P nickels are not valuable coins because they are still common collectible wise. The key dates for the business strikes of the Jefferson series (the "big four") are the 1950 D, 1939 S, 1938 D, and 1939 S all have mintages under 6 million.
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Pillar of the Community
United States
2233 Posts |
There are over 700 cases in Louisiana. Haven't seen any 2020 coins yet.
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Pillar of the Community
United States
1667 Posts |
Look. My opinion, and it's opinion only, is that this is much worse than 2009-2012 domestically and globally. This is more like 1918-1945 depending on how we as a country handle it and our economy as well as the global economy recovers.
I think as a coin collector you should continue your hobby and do whatever it is you'd like to do, and if it pan's out 10 or 30 years from now great for you. If it don't there isn't much lost money is money.
This is a difficut situation. It's not panic and should be taken very seriously. A lot of people are very likely going to die globally and it's very likely going to reoccur year after year like a flu does. We can argue if that's the case, of course I don't know the future, but it's likely. Uncertainty always results in a tightening. For this reason there will be a recession, maybe a depression, and this absolutely will affect mintage numbers, especially with the government dumping money to float the economy, that will be dollars, not coins. Coins are for great economies where change is frequent, not when they have to make money to keep it moving, so mintages should reduce.
Key dates? I'm not sure. Low mintages, yeah that looks very possible and a key date may appear, but a semi key is more likely.
I am concerned about this situation, but I can't ignore the possibilites with our hobby and it helps to take my mind off what I can't control or change. I say do your hobby as you like as I will too and we will see how it all works out once we are over this hump.
That said I do want to tell yall to stay safe, remain reasonable, and bless you all.
Edited by Big-Kingdom 03/22/2020 03:58 am
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Pillar of the Community
United States
1913 Posts |
Quote: it's very likely going to reoccur year after year like a flu does This is going to be very interesting to see. If it is seasonal, that means that the hotter weather itself is likely to be the biggest thing that works against its spread. Corona virus has not historically been significant on the annual scene like the flu. The reason the flu keeps coming back is that it's able to modify itself in order to beat our immunity. This new version will have to do the same in order to be back seasonally. It seems odd to me that a virus that has not historically been able to do that to a significant degree would suddenly be able to do so. I guess we'll see...
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Bedrock of the Community
 United States
12822 Posts |
Quote: it's very likely going to reoccur year after year like a flu does Possibly but there will be effective vaccinations in a year or two. The common seasonal flu is still an order of magnitude deadlier than this virus... for now.
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Valued Member
United States
170 Posts |
2021 would be more likely, albeit a small chance given the economical implications of the virus. But certainly not 2020 given than mintage began before 2020 started I'd assume.
Edited by river4449 03/22/2020 10:38 pm
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Bedrock of the Community
Australia
21786 Posts |
There may be many reasons why a particular type may be scarce or rare. I don't know, and most people won't have a good idea about scarcity until about 3 years later.
In the meantime, just collect about five nice examples of every type and denomination that comes your way from pocket change. After about five, you would have already formed some preliminary opinion about scarcity yourself.
After five, just spend whatever comes your way. Keep them for three years, and by then you will have a much better idea about scarcity. Keep what you think are scarce, and spend the rest.
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Pillar of the Community
5464 Posts |
Quote: Do You Think That 2020 Coins Will Become A Key Date? Yes, the 2020 W quarters.
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Pillar of the Community
United States
1913 Posts |
Quote: Yes, the 2020 W quarters. Versus the P, D and possibly S quarters I'd agree. However, since the mintage is the same, I can't see that the 2020-W would be any more of a key than the 2019-W quarters.
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Replies: 22 / Views: 5,669 |