Commemorative coins to pay down deficit

fastfreddie

Will there be any profits generated? Guess it depends on the issue price.

Commemorative coins to pay down deficit, lawmakers suggest

pf70collector

And last month President Obama signed the National Baseball Hall of Fame Commemorative Coin Act ordering the minting of as many as 50,000 $5 gold coins, sold for $35 apiece, as many as 400,000 $1 silver coins, sold for $10, and as many as 750,000 half-dollar coins, sold for $5.

$5 gold coins for $35. I am in.

JazzmanJAB

They should use Daniel Carr's Hard Times Token designs.

commoncents05

I think the point of the article is that there are indeed profits made, and instead of going to benefit non-profit organizations, they would all go to the federal government.

-Paul

topstuf

If the government had any brains (HAHAHAHAHAHAA) they would issue commem .... PAPER... money.
Area for gorgeous artwork, less cost, higher denominations....

presto.

LindeDad

I think the point of the article is that it proves just how little thought is going into handling the national debt. The few million made from commemorative's is a mere drop in the bucket compared to what the mint could make if they just quit printing dollar bills and used the coins already minted.
And yes I agree that the Baseball and Football halls of shame don't deserve the money.

pf70collector

$400 million over 30 years. Try passing a law to circumvent the fact that illegals are taking advantage of the child tax credit in the tune of $Billions. Morons.

Tax Loop

morgansforever

How about a Federal Reserve commem? 100th anniversary of the FR coming up next year.
Maybe a dual portrait of Ben n Al on the obverse? Wilson? JPM? Senator Aldrich?
Any suggestion for a motto? Reverse?

revoldlog

I support Federal Reverse commemorative.

They can issue 16 FR commemorative coins with face value of 1 trillion. The the US Mint can sell a few to FR to buy back all the treasuries. Also, when the treasuries matures, they can pay the Chinese with a few coins too.

The motto will be "No Debt Mountain Too High"

pf70collector

I vote for Ben in a helicopter.

messydesk

<< <i>How about a Federal Reserve commem? ...
Any suggestion for a motto? >>


"Screw You" (although maybe in Latin)

morgansforever

I like the idea of a dual portrait of Ben n Al on the obverse and maybe this political
cartoon on the reverse. Artistic and has that Americana feel good look, don't you think?


EDIT: Possible motto, "Celebrating 100 years of devaluation, artificial inflation and wealth confiscation"

RichieURich

A drop in the bucket, especially compared with the savings that would ensue from discontinuing making coins that cost more to manufacture than they are worth, such as the penny and nickel!

Tiny

Let me see. Just how many would it take to cover 16 Trillion? Now that is just for today's debt.

MrEureka

The first Social Security taxes were collected in 1937, 75 years ago. If they move quick, a Social Security 75th Anniversary commem with a $10 per coin surcharge dedicated towards funding the current deficit of Social Security - JUST Social Security - could get us back to even with the sale of - let me do some quick math - 2,050,000,000,000 coins.

Overdate

<< <i>How about a Federal Reserve commem? Any suggestion for a motto? >>


"The bailouts will continue until the economy improves."

bronco2078

It could be a long running series depicting famous pork barrel spending bills and congressional blunders. How about one with that bridge to nowhere in alaska on it?



Maybe they should take it more seriously and in 2029 they could do a great depression commemorative centennial with starving people in a bread line or stock speculators flinging themselves from skyscraper windows



How about a fiscal cliff coin made from pure zinc ? That one would sell for $10,000 with a mintage of 500 million and a mandatory household ordering quota of 5 for every man woman and infant. illegals won't have to participate of course

morgansforever

<<The first Social Security taxes were collected in 1937, 75 years ago. If they move quick, a Social Security 75th Anniversary commem with a $10 per coin surcharge dedicated towards funding the current deficit of Social Security - JUST Social Security - could get us back to even with the sale of - let me do some quick math - 2,050,000,000,000 coins.>>

2 trillion coins how many would make 70? 25%? FS label?
Guess PCGS would have to hire more graders
Can you imagine the first wave of 500 billion coins sent into PCGS .

revoldlog

<< <i><<The first Social Security taxes were collected in 1937, 75 years ago. If they move quick, a Social Security 75th Anniversary commem with a $10 per coin surcharge dedicated towards funding the current deficit of Social Security - JUST Social Security - could get us back to even with the sale of - let me do some quick math - 2,050,000,000,000 coins.>>

2 trillion coins how many would make 70? 25%? FS label?
Guess PCGS would have to hire more graders
Can you imagine the first wave of 500 billion coins sent into PCGS . >>



I don't know about other effects, but it will definitively make CLCT more valuable than AAPL!

BryceM

Isn't it a touch funny that senator "DeMint" is the guy sponsoring the bill?

Where is senator "DeReality?"

johnny9434

<< <i>

<< <i>How about a Federal Reserve commem? Any suggestion for a motto? >>


"The bailouts will continue until the economy improves." >>

QE 13.

fastfreddie

<< <i>

<< <i>

<< <i>How about a Federal Reserve commem? Any suggestion for a motto? >>


"The bailouts will continue until the economy improves." >>

QE 13. >>



Don't you mean "In QE we Trust"?