Am I Correct Or Close? - Coin Community Forum

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Author	Replies: 5 / Views: 1,104
snitchard Valued Member United States 420 Posts	Posted 12/16/2010 12:34 pm Hello, I'm teaching a class on coin collecting for beginners at my local community center starting next month. I wanted to add a section on how a coin is "born" from "idea" to "bank" so using a hypothetical commemorative coin as an example here is how I believe it is done but need your help making sure I'm correct. Step 1: A person in congress says, "Hey I think a coin to commemorate Ft. Garland, in Fort Garland, CO, would be really cool." Step 2: This person proposes a bill which includes the types of coin(s) e.g. Silver Dollars, Half Dollars and how many of each are to be minted, as well as surcharges and price and then the bill is voted on by both the House and the Senate and passes both. Step 3: The President signs the bill into law. Step 4: U.S. Mint staff create many designs for this coin. Step 5: The CCAC and CFA pick a design for each coin that they then recommend to the Secretary of the Treasury. Step 6: The Secretary of the Treasury approves the design(s) Step 7: The coin(s) are made by the U.S. Mint and sold. That's it, am I close? Thanks, Rich Rich M. - Collector since 2008 Report this Post to the Staff

BH1964 Bedrock of the Community United States 10982 Posts	Posted 12/16/2010 4:03 pm Sounds good but I think the bill would need at least 2 sponsors to get off the ground and then would go through a committee and be discussed on the floor of each the Senate and the House before a vote. Just my thoughts, and these thoughts were NOT researched, but I believe there's a lot more to Step 2 than meets the eye. ANA #R3154474 Report this Post to the Staff
palaniappan Valued Member India 265 Posts	Posted 12/16/2010 4:42 pm very informative about the birth of a coin. what about death of a coin, a coin being moved out of circulation. warm wishes. Report this Post to the Staff
Syaoran_2001 Valued Member United States 98 Posts	Posted 12/16/2010 7:32 pm Sounds good, but I don't think a commemorative is the best example. You should tell how a circulating coin that's used everyday such as a Lincoln Penny is "born." I say that because not a lot of non-collectors even know what a commemorative coin is. I didn't even know commemoratives existed until I got into serious coin collecting sometime this year. I don't even consider commemoratives real coins since they're not meant to be spent as money, instead to be kept as collector's items. You should tell how a circulating coin travels from the mint to your pocket. Report this Post to the Staff
Conder101 Bedrock of the Community United States 17884 Posts	Posted 12/17/2010 1:18 pm There is a lot more to step 2 than meets the eye, and it can go several different ways. And sometimes it is possible to get a new coin without a second co-sponsor. (in fact under house rules you need 220 co-sponsors to gat a bill moved to the floor but there are ways around it.) In fact the recenly signed into law Palladium bullion coin had ZERO co-sponsors. It was the result of the the actions of a single lawmaker and it was passed with no co-sponsors, no hearings, no debate, and was never even voted on. It was passed under a method that is becoming more and more common. You wait until the last minute, submit you bill with a request it be put on the unanimous consent calendar. Then if no one objects to it, it is deemed as having passed and it moves on to the other house on their unanimous consent calendar. Since this calendar comes up at the end of the session when everyone is trying to wrap things up and get out of town they don't pay much attention. So we got the palladium coin because on one representative who pushed through a law to benefit a single company in his state. (There is only one producer of palladium in this country, a mine in Montana that is owned by a company in Russia.) Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 12/18/2010 3:03 pm Quote: Sounds good, but I don't think a commemorative is the best example. You should tell how a circulating coin that's used everyday such as a Lincoln Penny is "born." I say that because not a lot of non-collectors even know what a commemorative coin is. I didn't even know commemoratives existed until I got into serious coin collecting sometime this year. I don't even consider commemoratives real coins since they're not meant to be spent as money, instead to be kept as collector's items. You should tell how a circulating coin travels from the mint to your pocket. The above is exactly what I was going to say. Not sure why you would pick a commemorative coin since so few ever even see them. Few others even care about them if they do see them. Everyone does see all the common coins we use every day but many don't even know what a half dollar is anymore. Also, pending on the ages of those present, if you made the info on pennies, you could easily pass out some for examples. Wouldn't cost as much as a commemorative to give away. AND, with pennies you could use those new 2009 Lincoln Cents as an example of a coin that appears to be a commemorative and yet is still usable. Report this Post to the Staff
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