Sacks of SBA's

EJB

I have heard and read that there is a huge amount of Susan B. Anthony dollars stored at the mint. Now if nobody wanted them the first time they were issued it stands to reason that they wouldn't want them if they tryed again. So what will they do with them. There clad so they can't melt them down like gold and silver, and it seems like a waste to just destroy them.

1977topps

Nobody wanted Morgans years ago.....

flaminio

First of all, I don't think that there's huge amounts of SBAs lying around. The whole reason why more were made in 1999 is because the Fed ran out of them. Much has been said and written about the unpopularity of the coin, but they were being used nonetheless.

Secondly, part of the Mint's business is to destroy non-current coinage, so melting down SBAs is not beyond their scope.

Third, I say send them all to Ecuador!

Steve27

"There clad so they can't melt them down like gold and silver"

Not true, they can be melted and recycled.

construct

A box of $1000 in uncirculated 1999-D SBAs arrived at my bank a few weeks ago. I see no reason why there might not be more out there. Where they're being stored I don't know.

Bochiman

Read either the recent Numismatic News or CoinWorld, I forget which one.
Littleton bought a a bunch of bags (a few hundred I believe) from the Mint years ago. They are finding items like a SBA minted on a 1c planchet (1979...date was visible), etc.

So, they are going through these bit by bit but have almost run out of what they bought, they said.

Worst case scenario, they are worth what they paid for them.

cladking

Part of the reason that the clad composition was made was that they are so easily
recycled into nickels.

There aren't a lot of these in storage anymore.

Eventually the fed will force the banks to issue dollar coins and the SBA's will probably
get consumed. It's possible they'll be withdrawn and melted to make nickels though.

Conder101

<< <i>It's possible they'll be withdrawn and melted to make nickels though. >>


Not likely, and for the same reason they wouldn't melt them during all that time they were in storage from 1981 til 1999. If you melt them down you have to account for the reverse seniorage. They are carried on the books at $1 each. If they melt them they become copper nickel bars worth maybe a twentieth of what the coins were. Even striking them into nickels would probably result in a loss of 85 cents per coin melted.