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Replies: 11 / Views: 9,452 |
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Pillar of the Community
United States
3345 Posts |
I was wondering this, before coin collecting what purpose did the date on the coin have? I have seen coins form the early 1700's before there were many collectors(if any) and I am wondering why they dated them in the first place?
Also mintmarks?
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Pillar of the Community
United States
2150 Posts |
https://goccf.com/t/83595From Sap: Quote: Dates on coins were, and in theory still are, helpful in recalling old coinage or otherwise controlling the currency. The statisticians can also use the dates: when worn-out or damaged coinage is returned for melting down and re-issue, statistical analysis of the dates can tell the government how long it's coins last in circulation, and therefore helps to estimate the need for striking new coins. The government also has the right to declare that "All coins struck before 1980..." or whenever "...are no longer legal tender.". Under such circumstances, dates on coins allow not just the government but the public as well to easily tell which coins are good and which coins aren't good any more.
Edited by jokingjoker 06/05/2011 2:30 pm
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Pillar of the Community
 United States
3345 Posts |
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Valued Member
United States
489 Posts |
Well... was wondering this myself. Thanks
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Valued Member
United States
447 Posts |
What about mint marks? Why is that really necessary?
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Moderator
 Australia
16809 Posts |
Quote: What about mint marks? Why is that really necessary? The same deal: quality control. Back in mediaeval times, it might have been tempting for a mint-worker to make underweight or debased coins, and to pocket the difference themselves. Putting mintmarks and dates on the coins acted as a deterrent: if the king's men discovered brand new coins from a certain mint that were consistently underweight or debased, they'd know exactly where to go to find the culprit. In that sense, it acted as a deterrent against coin fraud: the mint workers would know the dates and mintmarks would give them away if they made defective coins. The punishments for a mint worker making bogus coins was quite severe, and it was no idle threat, either. Mediaeval English coins did not bear dates or "mintmarks" as we understand them, but the name of the moneyer and the town in which he worked were spelled out in full on the coin's reverse. Back in 1124, King Henry I heard rumours that the standard of his coins was slipping, so he summoned all 150 moneyers from throughout the kingdom to appear and have their coins tested - and 94 of them failed the test, and were punished by having certain body parts removed. Ironically, the surviving coins from that time period show no evidence of any such debasement; either the debased coins were very thoroughly withdrawn and destroyed, or those 94 moneyers lost their limbs on the basis of dodgy test results. Today, of course, mint marks and dates are largely an anachronism, kept mainly because it encourages coin collectors. Governments can, in theory, use them to analyse coin circulation and distribution patterns, but I don't think anyone in the US Treasury actually does this today. In 1964, the US government deliberately stopped putting dates and mintmarks on coins, for the express purpose of dissuading coin collectors from collecting them; apparently the government of the day felt that dates and mintmarks had no other practical function.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Pillar of the Community
United States
3276 Posts |
nice question. I was always wondering this too, and got some pretty good answers here.
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Bedrock of the Community
United States
20753 Posts |
Or the Mint workers are paid by piece part quantities. 
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Pillar of the Community
Australia
2830 Posts |
in the Victorian era, the Brits even put die numbers on some of their coins. Something to keep us busy ...
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Bedrock of the Community
United States
20753 Posts |
If coins were made without dates and Mint marks, the following would be the results: 1. Hardly any coin collectors anywhere. 2. No reason for this forum 3. No reason for any PCGS TPGS's 4. No reason for Whitman to make the Red Book. 5. No reason for any coin forums. 6. No reason for discussions on which is better, Whitman or Dansco. 7. Actually no Whitman, Dansco, Littleton, etc. so many more people out of work. 8. This post would have never been made, you would not have made it, you would be sitting there wondering what you and why you were sitting there. 
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Pillar of the Community
Australia
2830 Posts |
Carl is waxing philosophical: isn't it summer in your part of the world ?
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Bedrock of the Community
United States
20753 Posts |
Quote: Carl is waxing philosophical: isn't it summer in your part of the world ? And one of the worst in a long time. Weather here is so bad I missed going to a coin show last Sunday and may well miss another this weekend unless we can get out of this 95+ stuff.
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Replies: 11 / Views: 9,452 |
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