I don`t understand the Saccy

Cam40

Are Sacs now commemorative coins? To be bought at a premium intented just for collectors only?
Or can you get `03 golden-colored dollars at face from the bank or post office?
If they mint so many millions,whats the incentive to pay any premium?

What gives with the Sacky today....

crito

Me neither! Still doesn't circulate (unless you take the PATH train to work) and most collectors call it the "crappagawea". I like the coin personally, but don't understand the reasoning behind continued production. I've been putting together a set, however. 2000's and 2001's come with both satin (from roll) and PL (from mint set) surfaces, plus the Millennium set "burnished" D. 2002's were all satin, and I think the 2003's are too, but haven seen any in person yet (just pics). Won't be acquiring a Goodacre presentation or the real gold space shuttle "varieties" any time soon, though

Conder101

<< <i>I like the coin personally, but don't understand the reasoning behind continued production. >>


Because instead of just getting 82 cents profit out of each one struck they now sell them to collectors and get $1.22 profit out of each one. (This figure is for the business strike rolls. Profit on mint set, proof set and other special strikings is even greater.) After all if you have a product that you can make six million of at a cost of $1.08 million and then sell with very little effort for $8.4 million why not do it?

crito

I could be wrong, but seems to me the only reason there was a run on 2002 Sac rolls is because everyone thought it was going to be the last year of issue. I don't think collectors will fall for that one again

Cam40

That was my understanding also.That 2002 was to be the last year of production.
I guess the only reason to buy these is to just fund the Mint or just to through some money away.

I makes me sick to think these are being produced ONLY to make alot of money for the Mint
and to hell with everyone else.

baccaruda

if you saw the inventories in the last CoinWorld, i think the mint's planning on leasing wyoming to store these things. something like 300,000,000 in inventory.

at some point don't they say "you know, i'm tired of climbing over this mountain of sacs every morning to get through the front door - let's stop minting them."

paigowjohnny

<< <i>most collectors call it the "crappagawea". >>



I personally prefer Sacagacrappa....

Barry

They're used in Ecaudor and Columbia (and counterfeited there too!). Maybe that's why we still make them.

satootoko

My bank refuses to get them. They say they have to get a minimum quantity which they can't get rid of.

Cam40

I,ve heard the same thing in reference to the SBA $.
Many banks hate $ coins.

I think they,re just hording them ...like everyone else in America.

paigowjohnny

<< <i>I think they,re just hording them ...like everyone else in America >>



Everyone else except me...my church loves it...any time I get one of the godawful things they go in the collection plate.