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 Replies: 12 / Views: 2,562 |
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Valued Member
United States
172 Posts |
Also disappointing about the America the Beautiful coin series is that the 5-oz silver bullion coins will also have a quarter-dollar denomination. It makes it seem like a novelty item the Franklin Mint would produce. I just think it would give it more authenticity to have the bullion coin have a higher face value.
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Pillar of the Community
Canada
3692 Posts |
How is that justified at all? Shouldn't it have a face value of $5?
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Pillar of the Community
United States
2589 Posts |
i would think it would, but the legislation mandates that they be denominated as 25 cent pieces, pure madnessssss
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Valued Member
United States
213 Posts |
Who cares? The face value is crap, anyway. Honestly, the mint just puts a denomination on the bullion coins to get chumps to buy them.
Face value is usually 1/20 of bullion value.
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Pillar of the Community
United States
4000 Posts |
I didn't know that, that's pretty silly.
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Bedrock of the Community
United States
12437 Posts |
Quote:
It makes it seem like a novelty item the Franklin Mint would produce From what I understand, this is precisely why it was valued that way. Private marketers were able to replicate the design of a State Quarter perfectly and still be legal under the Hobby Protection Act because they were so oversized, no one would ever accept one as a circulating quarter. They were essentially fantasy coins in size but not design. Now that the Mint will be striking these ginormous silver rounds, no one else will be able to make a similar item because it will be legal tender currency(NCLT). |
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Pillar of the Community
United States
6326 Posts |
I wonder what the " cost" of one of these BIG HONKIN' PIECES OF SILVER IS GOING TO BE ? ...  I'm undecided about these ...... I may just get one of my favorite park (Yellowstone) and call it good, then I can see what they look like "in hand" to confirm why I won't be getting the entire run of these issues !! (mostly due to "cost" I'm sure ! ) |
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Pillar of the Community
United States
2734 Posts |
"It's only a Quarter!"  |
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Pillar of the Community
United States
1055 Posts |
I am undecided on these as well. I do wish they would be minted as $5 or $10 pieces. I do think a complete set would be rather impressive though so I guess I will just wait to see what the Hot Springs and Yellowstone bullion coins look like. Now if the mint wants to carry a huge premium on these things you can probably count me out, but I think it would be an interesting way to stockup on bullion...
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Valued Member
 United States
172 Posts |
I don't see why the Mint cares if other companies want to make fantasy coins. Does the Mint really see this as infringing on their market? True, the face value is purely symbolic, but it just seems kind of ridiculous to have a series of 5-oz silver quarter-dollar coins.
Does anyone know if they will be striking proof versions? The law's text states that these coins are for bullion purposes, so I'm guessing no.
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Pillar of the Community
United States
6326 Posts |
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"It's only a Quarter!"
 ........ .25 Cents for 5 oz. of Silver would be SWWWEEEEEEEET ! |
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Bedrock of the Community
United States
12437 Posts |
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Does the Mint really see this as infringing on their market? I don't think the Mint is really bothered by the oversize knockoffs but remember that coin legislation is written by Congress. I think someone saw what Franklin Mint and others were charging for those big things and got the bright idea to add this in to further enrich Mint profits. Whether it is a good idea or not is debatable but it is what it is, they are going to be produced and the Mint just purchased a new press for that specific purpose. Edited by biokemist6
03/25/2010 11:53 am
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Bedrock of the Community
United States
12437 Posts |
An amazing second title will allow the Mint to challenge makers of silver bullion medallions that, in the past, have mimicked U.S. coin designs. These would be struck as an addition to the section of title 31, the U.S. Code section governing money that specifies denominations, specifications and design of coins.
Here are the technical specs called for: in the "Silver Bullion Investment Product:"
" The design shall be an exact duplicates of the quarter dollars;
" diameter of 3.0 inches;
" weight 5.0 ounces;
" contain .999 fine silver;
" incused into the edge the fineness and weight of the bullion coin;
" bear an inscription of the denomination ["which shall be 'quarter dollar'"]; and,
" not be minted or issued by the United States Mint as so-called fractional bullion coins.
By giving it a definition in section 5112 of title 31 of the U.S. Code, and defining it as a coin that the Treasury chief may issue, that makes it a United States coin under section 5103 - the legal tender provision of the law.
The practical effect would also be to tamper with products of other coins which are "supersized" and presently do not violate counterfeiting laws, but just might under a system with silver national park five ouncers in the mix. Here's how and why.
In recent times, a number of private manufacturers have produced large (over-size) medallion-like pieces which are replicas of contemporary coin design. They are not intended as counterfeits, or even eye-fooling replicas, because of their size (generally over three inches in diameter - a size at which the Secret Service has traditionally said is not viewable as a counterfeit).
http://secure.numismaster.com/ta/nu...ticleId=5904
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Replies: 12 / Views: 2,562 |
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Posted 03/24/2010 6:52 pm
