Mint To Use Alot Less Copper And More Zinc In 2009
FLBuffaloHunter
Posts: 3,127
Coin World is reporting the Mint is planning to cut back production of the nickel through dollar circulating coins and increase production of cents for 2009
<< <i>The United States Mint will be using a lot more zinc and less copper and nickel during the 2009 fiscal year as Lincoln cent production is stepped up while output of denominations from the 5-cent coin through the dollar is slashed, Mint officials said.
The primary reason for the planned increase in cent production is the distribution of four commemorative circulating Lincoln cents to celebrate the contributions of the nation’s 16 th president, Abraham Lincoln, according to Mint officials.
Mint officials forecast demand for 5-cent coins, dimes, quarter dollars and dollar coins will drop, while remaining constant for the half dollar. >>
Keys in the making
<< <i>The United States Mint will be using a lot more zinc and less copper and nickel during the 2009 fiscal year as Lincoln cent production is stepped up while output of denominations from the 5-cent coin through the dollar is slashed, Mint officials said.
The primary reason for the planned increase in cent production is the distribution of four commemorative circulating Lincoln cents to celebrate the contributions of the nation’s 16 th president, Abraham Lincoln, according to Mint officials.
Mint officials forecast demand for 5-cent coins, dimes, quarter dollars and dollar coins will drop, while remaining constant for the half dollar. >>
Keys in the making
Never teach a pig to sing. You'll waste your time and annoy the pig 
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Comments
What half dollar demand?
You mean the bag of 200 I buy every year for tube stock???????
I like the news personally.
<< <i>I wonder how much the rising metal prices affected their outlook for consumer demand of circulating coins
That was my thought, I'm surprised they are pushing more for the abolishment of the dollar bill though, since the dollar coin is the mints most profitable coin to mint. I also disagree with the demand will diminish for the dollar coin, I don't think there is much demand besides collector demand in the first place.
with the cheapest most base metals you can locate!
I am sure abe is quite pleased with how the country celebrates him!
<< <i>Does nayone know how to order a box of new coins from the Fed? I would dearly like to order a box of 2009 nickels (2008 as well for that matter) and I cannot seem to figure out how to do it. >>
Your bank should be able to get a box for you, if not, you may try another bank.
Later, Paul.
Later, Paul.
>>>My Collection
<< <i>nice job mint! honor good old abe by making the cent that bears his image
with the cheapest most base metals you can locate!
I am sure abe is quite pleased with how the country celebrates him! >>
I wonder what an aluminum Lincoln would sound like....
Ren
<< <i>Me thinks its high time for a circulating $5.00 coin.
Later, Paul. >>
Sure is....!!It could be made out of precious pure copper...!!....like the 1909 ..
<< <i>nice job mint! honor good old abe by making the cent that bears his image
with the cheapest most base metals you can locate!
I am sure abe is quite pleased with how the country celebrates him! >>
Abe may approve of this because the common person will be able to get the coin more easily, not just a few coin collectors here and there.
Wow, I thought for a minute there you were saying that
the Mint was going to make all of our small change out
of zinc.
Although it may just be a matter of time anyway.
~
"America suffers today from too much pluribus and not enough unum.".....Arthur Schlesinger Jr.
<< <i>
<< <i>nice job mint! honor good old abe by making the cent that bears his image
with the cheapest most base metals you can locate!
I am sure abe is quite pleased with how the country celebrates him! >>
Abe may approve of this because the common person will be able to get the coin more easily, not just a few coin collectors here and there. >>
you know, you may be right on that. sounds like abe wanted to do exactly what we are doing today:
" In Monetary Policy of the United States Richard Timberlake clearly explained the paramount importance of central banking to the political ambitions of Lincoln and his fellow Whigs: "To the Whigs . . . a national bank was their life – the vital principle – without which they could not live as a party – the power which was to give them power . . . . To lose it, was to lose the fruits of the election, with the prospect of losing the party itself." In other words, the Whigs always intended to use a central bank, and the printing of paper money not backed by gold or silver, as the means of financing massive patronage schemes ("internal improvements") that they hoped would keep them in power indefinitely. This is precisely why the Jacksonians were so opposed to it.
Andrew Jackson and the Bank War
The best published account of the "bank war" between Andrew Jackson and Nicolas Biddle is Robert Remini’s Andrew Jackson and the Bank War. Jackson considered fiat money to be "the instrument of the swindler and the cheat. For Andrew Jackson, hard money – specie – was the only legitimate money; anything else was a fraud to steal from honest men." (Remini, p. 19). Jackson also believed that the doctrine of states’ rights meant that a central bank was unconstitutional. This view was quite pervasive, especially in the South. As Timberlake writes (p. 83): "The states . . . . were properly jealous and fearful of encroachment by the federal government. Since a central bank would necessarily be a federal bank and would maintain and operate state branches from a distant center, proponents of states’ rights found opposition to a national bank almost mandatory."
"
<< <i>
<< <i>
<< <i>nice job mint! honor good old abe by making the cent that bears his image
with the cheapest most base metals you can locate!
I am sure abe is quite pleased with how the country celebrates him! >>
Abe may approve of this because the common person will be able to get the coin more easily, not just a few coin collectors here and there. >>
you know, you may be right on that. sounds like abe wanted to do exactly what we are doing today:
"In Monetary Policy of the United States Richard Timberlake clearly explained the paramount importance of central banking to the political ambitions of Lincoln and his fellow Whigs: "To the Whigs . . . a national bank was their life – the vital principle – without which they could not live as a party – the power which was to give them power . . . . To lose it, was to lose the fruits of the election, with the prospect of losing the party itself." In other words, the Whigs always intended to use a central bank, and the printing of paper money not backed by gold or silver, as the means of financing massive patronage schemes ("internal improvements") that they hoped would keep them in power indefinitely. This is precisely why the Jacksonians were so opposed to it.
Andrew Jackson and the Bank War
The best published account of the "bank war" between Andrew Jackson and Nicolas Biddle is Robert Remini’s Andrew Jackson and the Bank War. Jackson considered fiat money to be "the instrument of the swindler and the cheat. For Andrew Jackson, hard money – specie – was the only legitimate money; anything else was a fraud to steal from honest men." (Remini, p. 19). Jackson also believed that the doctrine of states’ rights meant that a central bank was unconstitutional. This view was quite pervasive, especially in the South. As Timberlake writes (p. 83): "The states . . . . were properly jealous and fearful of encroachment by the federal government. Since a central bank would necessarily be a federal bank and would maintain and operate state branches from a distant center, proponents of states’ rights found opposition to a national bank almost mandatory."
" >>
Interesting. Abe was ahead of his time in more ways than one.
It states: "the Secretary of hte Treasury shall issue 1-cent coins in 2009 with the exact metallic content as the 1-cent coin contained in 1909 in such number as the Secretary determines to be appropriate for numismatic purposes" .
I think these will only be for the "Mint" products and NOT for generel circulation.
<< <i>At the bottom of the Presidental Coin Act is the Lincoln penny legislation.
It states: "the Secretary of hte Treasury shall issue 1-cent coins in 2009 with the exact metallic content as the 1-cent coin contained in 1909 in such number as the Secretary determines to be appropriate for numismatic purposes" .
I think these will only be for the "Mint" products and NOT for generel circulation. >>
NCLT bullion cents?
<< <i>At the bottom of the Presidental Coin Act is the Lincoln penny legislation.
It states: "the Secretary of hte Treasury shall issue 1-cent coins in 2009 with the exact metallic content as the 1-cent coin contained in 1909 in such number as the Secretary determines to be appropriate for numismatic purposes" .
I think these will only be for the "Mint" products and NOT for generel circulation. >>
They should have been making proofs out of the original composition these past 25 years.
<< <i>They should have been making proofs out of the original composition these past 25 years. >>
Why? Proofs are supposed to have the same composition as circulation coins. Have any proofs had different composition?
<< <i>
<< <i>At the bottom of the Presidental Coin Act is the Lincoln penny legislation.
It states: "the Secretary of hte Treasury shall issue 1-cent coins in 2009 with the exact metallic content as the 1-cent coin contained in 1909 in such number as the Secretary determines to be appropriate for numismatic purposes" .
I think these will only be for the "Mint" products and NOT for generel circulation. >>
NCLT bullion cents?
Copper=Bullion...
We use to have that right at one time. They were called half eagles coined out of real gold that didn't need to be propped-up by the federal government, (they really didn't need to have government to have value). The sooner we get back on the gold standard the better.
Overland Trail Collection Showcase
Dahlonega Type Set-2008 PCGS Best Exhibited Set
<< <i>
Copper=Bullion...
Long before the metal market took off several years ago, copper was always sought after. Those of you in the building business know that structures being erected and left unguarded were and are stripped of any copper coils or copper wires or copper pipes, at least here in Chicago.
<< <i>I wonder how much the rising metal prices affected their outlook for consumer demand of circulating coins
Took the words right out of my mouth.
<< <i>More cents to be minted and circulated. Where are all those people now that predicted the cent would be gone by oh nine? >>
more like 2010..
To me the Cent is one of the most useless coins in use today. It's fun to collect but I don't see it very useful as money and now they are making more than ever.
If there are going to be four types of Lincoln cents, then the Mint will need to produce four times the number of Lincoln cents then previous years.
Thanks,
Chris
<< <i>while remaining constant for the half dollar. >>
Demand for halves will remain near zero -- whodathunkit!
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>I would dearly like to order a box of 2009 nickels (2008 as well for that matter) and I cannot seem to figure out how to do it. >>
You may need to wait until 2009!
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>Proofs are supposed to have the same composition as circulation coins. Have any proofs had different composition? >>
Silver proofs.
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>
<< <i>Proofs are supposed to have the same composition as circulation coins. Have any proofs had different composition? >>
Silver proofs. >>
What a misnomer. I'm still bummed that silver proof sets don't include silver proof cents!
<< <i>
<< <i>Copper=Bullion...
Long before the metal market took off several years ago, copper was always sought after. Those of you in the building business know that structures being erected and left unguarded were and are stripped of any copper coils or copper wires or copper pipes, at least here in Chicago. >>
In the old days copper coins were measured by weight, just like gold and silver.
Maybe a copper spray paint?
<< <i>Could this be good news for Pres dollar folks hmmmmmmm.
I like the news personally. >>
Absolutely YES.
Not to continue beating this dead horse but unless the paper dollar is eliminated, Presidential Dollar production will continue to drop until it hits "collector only" levels such as the 2002 - 2007 Sacajawea Dollar and the 2002 - 2008 Kennedy Halves.
The name is LEE!
Exactly, plus the price of zinc has risen right along with copper. And I would have expected the increase in cent production due to the commemorative program anyway. Since when does the mint use p.m. costs (or even demand for coins, for that matter) to set production rates. The whole thing makes no sense.