H.R. 6192: 1921 Silver Dollar Anniversary Act...

cagcrisp

H.R. 6192: 1921 Silver Dollar Coin Anniversary Act…

“(a) $1 silver coins

The Secretary of the Treasury (hereafter in this Act referred to as the “Secretary”) shall mint and issue $1 coins in recognition of the 100th anniversary of completion of coinage of the Morgan dollar and the 100th anniversary of commencement of coinage of the Peace dollar, each of which shall—

(1) weigh 26.73 grams;
(2) have a diameter of 1.500 inches;
(3) contain not less than 90 percent silver; and
(4)have a reeded edge.

(a) Design requirements
(1)In general
The designs of the coins minted under this Act shall honor either the Morgan dollar or the Peace dollar, as follows—

(A) Morgan dollar
The coins honoring the 100th anniversary of completion of coinage of the Morgan dollar shall have an obverse design and a reverse design that are renditions of the designs historically used on the obverse and reverse of the Morgan dollar.

(B) Peace dollar
The coins honoring the 100th anniversary of commencement of coinage of the Peace dollar shall have an obverse design and a reverse design that are renditions of the designs historically used on the obverse and reverse of the Peace dollar.

Why does this matter IF you own American Silver Eagles (more importantly the 2019 Enhanced Reverse Proof American Silver Eagle)?

The Key to the 1921 Silver Dollar Coin Anniversary Act is the following:

Sec.5. Issuance of coins
The Secretary may issue coins minted under this Act beginning on January 1, 2021.

That’s the Key.

Open ended. ALL commemorative coins have an ending date.

H.R. 6192: 1921 Silver Dollar Coin Anniversary Act is NOT a commemorative coin program.

Morgan and Peace Silver Dollars will do to American Silver Eagles what the American Gold Buffalo did to American Gold Eagles.

I would be Very concerned about Low Mintage Wonders for American Silver Eagles when you have the Possibility of annual production of Morgan or Peace Silver dollars.

The Morgan or Peace Silver dollars could have privy marks and you could have a privy mark “cc” or “o” in Exactly the spot where a “cc” mint mark or “o” mint mark would have belonged for Carson City or New Orleans…

…SO…IF H.R. 6192: 1921 Silver Dollar Coin Anniversary Act passes…

…American Silver Eagle mintage people will be thrown under the bus…

There just is Not enough of a dwindling customer base to support American Silver Eagles, Morgan Silver Dollars and Peace Silver Dollars…

…SO…The dwindling customer base will be Split between American Silver Eagles vs. Morgan Silver Dollars vs. Peace Silver Dollars…

…SO…The 2019 Enhanced Reverse Proof Silver Eagle may continue to be the Low Mintage Wonder for a period of time, however, the collector base interested in purchasing in the future could be splintered…

Zoins

Interesting.

TurtleCat

It’s already too late as I mentioned elsewhere. There’s already 2 commemoratives assigned to 2021.

Kudbegud

I would get one of each if this is passed.
Perhaps Dan Carr will make these with a DC mint mark and 2021 date.

AlexinPA

I will not purchase any of those -period.

TurtleCat

http://coinsblog.ws/2020/03/no-2021-silver-dollars-for-you.html for some details.

BStrauss3

https://www.govtrack.us/congress/bills/116/hr6192

nk1nk

@TurtleCat said:
http://coinsblog.ws/2020/03/no-2021-silver-dollars-for-you.html for some details.

@BStrauss3 said:
https://www.govtrack.us/congress/bills/116/hr6192

So which is it, less than 1% chance or a 43% chance? Either way it sounds like there’s some sort of chance.

Nick

TurtleCat

My understanding is zero percent. They can only do two commemoratives a year and two have been authorized.

cagcrisp

@TurtleCat said:
It’s already too late as I mentioned elsewhere. There’s already 2 commemoratives assigned to 2021.

These are Not commemorative coins. Annual coinage...

cagcrisp

@nk1nk said:

@TurtleCat said:
http://coinsblog.ws/2020/03/no-2021-silver-dollars-for-you.html for some details.

@BStrauss3 said:
https://www.govtrack.us/congress/bills/116/hr6192

So which is it, less than 1% chance or a 43% chance? Either way it sounds like there’s some sort of chance.

Nick

This legislation is not the failed legislation from 2019. This is Not a commemorative program...

Zoins

U.S. Mint Director David J. Ryder has a solution to the Congress issue....

Mint them in gold!

it's been done with other other commemoratives in the past so don't give up hope!

https://www.coinworld.com/news/precious-metals/anniversary-2021-morgan-dollar-may-have-to-be-made-of-gold

TurtleCat

@cagcrisp said:

@TurtleCat said:
It’s already too late as I mentioned elsewhere. There’s already 2 commemoratives assigned to 2021.

These are Not commemorative coins. Annual coinage...

Ah, that would be the loophole to the rule. Still, I wouldn’t expect it to pass and not this year. I’m not sure anyone would want clad versions or “golden dollar” versions. People would only want coin silver uncirculated and proof.

TurtleCat

@Zoins said:
U.S. Mint Director David J. Ryder has a solution to the Congress issue....

Mint them in gold!

it's been done with other other commemoratives in the past so don't give up hope!

https://www.coinworld.com/news/precious-metals/anniversary-2021-morgan-dollar-may-have-to-be-made-of-gold

Yeah, and they were a bit disappointing as well. They should have been 90% gold and (even if thinner) made to be the same diameter as the regular issue coins.

cagcrisp

@TurtleCat said:

@cagcrisp said:

@TurtleCat said:
It’s already too late as I mentioned elsewhere. There’s already 2 commemoratives assigned to 2021.

These are Not commemorative coins. Annual coinage...

Ah, that would be the loophole to the rule. Still, I wouldn’t expect it to pass and not this year. I’m not sure anyone would want clad versions or “golden dollar” versions. People would only want coin silver uncirculated and proof.

These are going to be in Silver. Just like Morgan and Peace Silver Dollars...

Zoins

@TurtleCat said:

@cagcrisp said:

@TurtleCat said:
It’s already too late as I mentioned elsewhere. There’s already 2 commemoratives assigned to 2021.

These are Not commemorative coins. Annual coinage...

Ah, that would be the loophole to the rule. Still, I wouldn’t expect it to pass and not this year. I’m not sure anyone would want clad versions or “golden dollar” versions. People would only want coin silver uncirculated and proof.

It could be one of the most rare of silver coins - silver plated gold

nk1nk

@TurtleCat said:
My understanding is zero percent. They can only do two commemoratives a year and two have been authorized.

I was just quoting the article you posted, they said less than 1% chance. 🤷🏽‍♂️

CaptHenway

In my opinion this is a bad idea. Commemorative coins should celebrate important people or events, not other coins. What next? A 2031 coin to celebrate the tenth anniversary of the 2021 100th anniversary coin?

MOO

TD

cagcrisp

@nk1nk said:

@TurtleCat said:
My understanding is zero percent. They can only do two commemoratives a year and two have been authorized.

I was just quoting the article you posted, they said less than 1% chance. 🤷🏽‍♂️

The 1% was for the Failed 2019 legislation. This is 2020 legislation...

cagcrisp

@CaptHenway said:
In my opinion this is a bad idea. Commemorative coins should celebrate important people or events, not other coins. What next? A 2031 coin to celebrate the tenth anniversary of the 2021 100th anniversary coin?

MOO

TD

This is Not a commemorative program. This is an end run to get annual production of Morgan or Peace Silver Dollars...

They’re just using 2021 as a launch point...

Schmitz7

Even if these are an on-going series beginning in 2021 they won’t change the Silver Eagle collectors focus. Silver Eagles are .999 fine and one ounce of silver. If anyone should be concerned it should be the Morgan and Peace dollar collector as their sets will now be growing as these should be a required part of the sets if in fact these aren’t commemoratives.

Kudbegud

A wild thought just passed through my quarantined brain.

A two faced .900 silver dollar - one side Morgan, other side Peace - both the obverse designs.

Never mind. I need another shot of "medicinal" spirits.

CaptHenway

@cagcrisp said:

@CaptHenway said:
In my opinion this is a bad idea. Commemorative coins should celebrate important people or events, not other coins. What next? A 2031 coin to celebrate the tenth anniversary of the 2021 100th anniversary coin?

MOO

TD

This is Not a commemorative program. This is an end run to get annual production of Morgan or Peace Silver Dollars...

They’re just using 2021 as a launch point...

I Disagree. The "Anniversary" is in 2021, not the following years.

cagcrisp

@CaptHenway said:

@cagcrisp said:

@CaptHenway said:
In my opinion this is a bad idea. Commemorative coins should celebrate important people or events, not other coins. What next? A 2031 coin to celebrate the tenth anniversary of the 2021 100th anniversary coin?

MOO

TD

This is Not a commemorative program. This is an end run to get annual production of Morgan or Peace Silver Dollars...

They’re just using 2021 as a launch point...

I Disagree. The "Anniversary" is in 2021, not the following years.

Yes but the legislation would allow coins in subsequent years...

ricko

This should be interesting... I would get one of each should this program actually become reality. Not that I think they will achieve any great premium.... as a yearly issue, it will just be another series. Cheers, RickO

BStrauss3

@CaptHenway said:
I Disagree. The "Anniversary" is in 2021, not the following years.

So? The Washington quarter was a 1-year commemorative and look how long IT lasted...

@cagcrisp said:
Yes but the legislation would allow coins in subsequent years...

In fact if you read it, there is no mandated end, so it could be a continuing series. Based on existing legislation each new year would have a new date. 2021 2022 2023... but equally there is nothing requiring the secretary to continue the series.

android01

How long do you think it will be before we start seeing rainbow toned 2021 Morgan and Peace dollars?

CaptHenway

@BStrauss3 said:

@CaptHenway said:
I Disagree. The "Anniversary" is in 2021, not the following years.

So? The Washington quarter was a 1-year commemorative and look how long IT lasted...

@cagcrisp said:
Yes but the legislation would allow coins in subsequent years...

In fact if you read it, there is no mandated end, so it could be a continuing series. Based on existing legislation each new year would have a new date. 2021 2022 2023... but equally there is nothing requiring the secretary to continue the series.

That raises the musical question, was there some sort of supplemental authorization act passed to allow the commemorative coin to become the regular issue, or did the Treasury Dept. just go ahead and do it?

BStrauss3

@CaptHenway said:
That raises the musical question, was there some sort of supplemental authorization act passed to allow the commemorative coin to become the regular issue, or did the Treasury Dept. just go ahead and do it?

Neither - read the last clause

Sec 7.Financial assurances
The Secretary of the Treasury shall take such actions as may be necessary to ensure that the minting and issuing of coins under the Act will not result in any net cost to the United States Government.

This is typically part of commemorative coin legislation... I suspect it means the 2021 Peace/Morgan dollars will be more expensive (per t ounce) than the ASEs.

CaptHenway

If they happen they will be .999 fine, not .900.

TurtleCat

@CaptHenway said:
If they happen they will be .999 fine, not .900.

Most likely which is a shame. It should be 90% period. Just like the 2016 centennial coins should have been 90% gold and matched with 90% silver versions.

COCollector

@android01 said:
How long do you think it will be before we start seeing rainbow toned 2021 Morgan and Peace dollars?

I'm waiting for a colorized version.

Zoins

@COCollector said:

@android01 said:
How long do you think it will be before we start seeing rainbow toned 2021 Morgan and Peace dollars?

I'm waiting for a colorized version.

Something like this?

COCollector

@Zoins said:

@COCollector said:

@android01 said:
How long do you think it will be before we start seeing rainbow toned 2021 Morgan and Peace dollars?

I'm waiting for a colorized version.

Something like this?

How could I resist?

Seriously though, I'm in for one each 90% silver 2021 dollars -- if they make 'em.

And as long as I'm dreaming, a limited run by the Carson City Mint would be great.

thefinn

@CaptHenway said:
In my opinion this is a bad idea. Commemorative coins should celebrate important people or events, not other coins. What next? A 2031 coin to celebrate the tenth anniversary of the 2021 100th anniversary coin?

MOO

TD

They got to have something to go with the 2014 gold Kennedy and 2016 Merc, SLQ and WLH.

Zoins

Just the first 3 paragraphs to whet your appetite!

• https://coinweek.com/modern-coins/a-coin-analyst-exclusive-morgan-and-peace-silver-dollars-proposed-as-ongoing-program/

By Louis Golino for CoinWeek …..

A Coin Analyst Exclusive: Morgan and Peace Silver Dollars Proposed as Ongoing Program

On March 11, U.S. Representative Garland “Andy” Barr (R-KY6) introduced H.R. 6192 – a bill which proposes the issuance of a silver dollar program starting in 2021 that would honor the centennial of the transition in 1921 from Morgan to Peace dollars.

Rep. Mark Amodei (R-NV2), whose district includes Carson City, was the first co-sponsor of the legislation. In fact, the bill already has significant bipartisan support, with 15 initial co-sponsors as of the day it was introduced (nine Republicans and six Democratics), and was referred to the House Committee on Financial Services on March 11.

Unlike the 1921 Morgan and Peace dollar commemorative coin program Rep. Barr proposed last year (H.R. 3757) along with Rep. Emanuel Cleaver (D-MO5), coins issued under the new program would not be commemoratives and could be issued on an ongoing basis rather than terminating at the end of 2021. The bill says the Secretary of the Treasury may begin minting the coins on January 1, 2021.