<< <i>Maybe they were busy minted Buffalo nickels since they were only minted in Denver that year. >>
Sort of OT but I've wondered why on modern coins they still split between the mints. Wouldn't it make more sense to make all of each denomination in one mint? It seems like the savings on higher volume of the same coin would outweigh the shipping costs.
<< <i>Maybe they were busy minted Buffalo nickels since they were only minted in Denver that year. >>
Sort of OT but I've wondered why on modern coins they still split between the mints. Wouldn't it make more sense to make all of each denomination in one mint? It seems like the savings on higher volume of the same coin would outweigh the shipping costs. >>
I always figured the modern coins were spread out for the siegniorage. The extra money the goverment keeps when a coin is taken out of circulation and put away. The cost of making the coins being less than the worth of the coin. The more coins taken out of circulation the more the profit for the government. Just like with commemorative stamps that are never used but put away. I would love to have the profit made on just the Elvis stamps alone.
Ron
Collect for the love of the hobby, the beauty of the coins, and enjoy the ride.
The concept of seniorage did not become a factor in Mint production and net revenues until the 60s when coins ceased having 90 percent silver in the major denominations. Early on, coins were supposed to have an approximate amount of precious metal to stand behind their value. Clad coinage started in 1965 when most of the silver was removed from coins. I do understand that nickel was and continues to be different, but the concept holds for the rest of the coins.
Retired United States Mint guy, now working on an Everyman Type Set.
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Liberty: Parent of Science & Industry
<< <i>Maybe they were busy minted Buffalo nickels since they were only minted in Denver that year. >>
Sort of OT but I've wondered why on modern coins they still split between the mints. Wouldn't it make more sense to make all of each denomination in one mint? It seems like the savings on higher volume of the same coin would outweigh the shipping costs.
<< <i>
<< <i>Maybe they were busy minted Buffalo nickels since they were only minted in Denver that year. >>
Sort of OT but I've wondered why on modern coins they still split between the mints. Wouldn't it make more sense to make all of each denomination in one mint? It seems like the savings on higher volume of the same coin would outweigh the shipping costs. >>
I always figured the modern coins were spread out for the siegniorage. The extra money the goverment keeps when a coin is taken out of circulation and put away. The cost of making the coins being less than the worth of the coin. The more coins taken out of circulation the more the profit for the government. Just like with commemorative stamps that are never used but put away. I would love to have the profit made on just the Elvis stamps alone.
Ron
Ron >>
Yeah, but those Elvis stamps will someday be used...most kids today don't care who/or know who he was !
The concept of seniorage did not become a factor in Mint production and net revenues until the 60s when coins ceased having 90 percent silver in the major denominations. Early on, coins were supposed to have an approximate amount of precious metal to stand behind their value. Clad coinage started in 1965 when most of the silver was removed from coins. I do understand that nickel was and continues to be different, but the concept holds for the rest of the coins.
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