The San Francisco Mint: A Fortress Full of Money That Will Never Be Spent

1630Boston

The San Francisco Mint: A Fortress Full of Money That Will Never Be Spent
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https://youtu.be/_v_ci4g0rss

Manifest_Destiny

Cool video, thanks for posting. I thought it was interesting that the mint uses "penny" instead of cents.

pcgscacgold

Very cool @1630Boston
Things like this are why I come to the forum. Thanks.

2windy2fish

Super cool! Thank you for posting..
Watching that video makes you wonder how they are making any profit or breaking even, so much labor and technology for a relatively inexpensive product…

Overdate

@2windy2fish said:
Watching that video makes you wonder how they are making any profit or breaking even, so much labor and technology for a relatively inexpensive product…

By my calculation, the proof and reverse proof Morgan and Peace dollars alone should realize about $90 million above the coins' silver value, and the limited edition silver proof set should realize about $8 million above the set's silver value. Add all the other gold, silver and base metal coins, coin sets and medals, and there might be enough income to generate a profit.

FrankH

Since when does "profit" enter into any consideration in a government activity?

dcarr

@Manifest_Destiny said:
Cool video, thanks for posting. I thought it was interesting that the mint uses "penny" instead of cents.

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Cool, that is a Gaebener press, similar to mine.

PS:
One error in the video :

"The San Francisco Mint stopped producing circulation coins in 1974".

That is incorrect. The last San Francisco minted coins put into circulation were 1980-S Susan B Anthony Dollars.
(That was a trivia contest question at my local coin club meeting one time).

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BLUEJAYWAY

Another informative thread. Thanks for posting the video.

WAYNEAS

Wayne

SaorAlba

@dcarr said:

"The San Francisco Mint stopped producing circulation coins in 1974".

That is incorrect. The last San Francisco minted coins put into circulation were 1980-S Susan B Anthony Dollars.
(That was a trivia contest question at my local coin club meeting one time).

I thought the SF mint minted cents without mintmarks for circulation as has the West Point mint.

gonzer

I was always under the impression that the actual striking of the coins was at a much, much faster pace due to some of the wild errors that came out in years past.

Steven59

Interesting video, Thanks for posting.

lilolme

@gonzer said:
I was always under the impression that the actual striking of the coins was at a much, much faster pace due to some of the > wild errors that came out in years past.

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From this link:

https://www.usmint.gov/learn/production-process/coin-production

A circulating coin press strikes 750 coins per minute. The Philadelphia Mint produces 47,250 coins per minute if all of its 63 presses are operational. The Denver Mint makes 40,500 coins per minute with its 54 coin presses. That results in millions of circulating coins each day.

Coins are struck differently depending on their finish. Circulating, uncirculated, and bullion coins are struck once. Proof coins are struck at least twice. The circulating coin presses strike coins faster than the presses used for uncirculated, proof, and bullion coins.

Tom147

@lilolme said:

Coins are struck differently depending on their finish. Circulating, uncirculated, and bullion coins are struck once. Proof coins are struck at least twice. The circulating coin presses strike coins faster than the presses used for uncirculated, proof, and bullion coins.

Learn something new everyday. I always thought coins for Uncirculated sets were just taken from regular circulation bins.