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American Innovation $1 Coin Act, H.R. 6025 (Now, HR 770. Became law 7/20)

BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭
edited July 26, 2018 12:36AM in U.S. Coin Forum
Unless this thing has a provision to kill the $1 FRN, then just say no. Maybe even then, just say no... image

>H. R. 6025

>To require the Secretary of the Treasury to mint coins in recognition of American innovation and significant innovation and pioneering efforts of individuals or groups from each of the 50 States, the District of Columbia, and the United States territories, to promote the importance of innovation in the United States, the District of Columbia, and the United States territories, and for other purposes.

sigh. "Innobucks", You heard it here first.

Link to legislation: American Innovation $1 Coin Act
Link to Coinnews.net article
Link to Mintnewsblog.com article

Jan 18, 2018 update (1): Bill (Now H.R. 770), set to pass house.
Link to House Bill 770: H.R.770 - American Innovation $1 Coin Act

Jan 18, 2018 update (2): Bill passes in House

June 21, 2018 update: Bill passes Senate

July 20, 2018 update: Bill becomes law
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Comments

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    dadamsdadams Posts: 376 ✭✭✭
    Not made for circulation - "Numismatic coins" ?



    Edited to add a question mark. Would these circulate as well?
    image
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    BarndogBarndog Posts: 20,460 ✭✭✭✭✭
    government is great, isn't it?
    JR Newsletter Online Edition
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    kiyotekiyote Posts: 5,568 ✭✭✭✭✭
    Noooo! I was hoping they were going to do a vice Presidental series to complement the presidential series.

    This is so lame. image
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
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    goldengolden Posts: 9,072 ✭✭✭✭✭
    Originally posted by: Barndog
    government is great, isn't it?


    image
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    KudbegudKudbegud Posts: 4,735 ✭✭✭✭✭
    Originally posted by: brg5658

    I think the "50 different coins - one for each state" themed numismatic items have run their course. I wish they would let that idea die in committee...




    I second that thought.



    I might, might, go along with a $1 coin celebrating American Innovation but with out regard or mention of a state or territory. The design would change yearly or up to four designs per year.

    AND if the paper dollar were retired to be replaced by the coin.

    AND the coin was a ringed bi-metallic composition like many countries use for their $1 equivalent denomination.




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    CaptHenwayCaptHenway Posts: 31,574 ✭✭✭✭✭
    GACK!!!!
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    TopographicOceansTopographicOceans Posts: 6,535 ✭✭✭✭
    Sounds innovative
    image
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    RB1026RB1026 Posts: 1,469 ✭✭✭✭
    image
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    TommyTypeTommyType Posts: 4,586 ✭✭✭✭✭
    Consider yourself lucky....They could have gone with "State Flowers"...."State Birds"....or "State Seals".



    Face it....they've become addicted to the inflow of cash from all of these things.....

    Easily distracted Type Collector
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    dcarrdcarr Posts: 8,017 ✭✭✭✭✭
    This is what they should have done instead of the Presidents dollar series.
    Moonlight Mint
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    rickoricko Posts: 98,724 ✭✭✭✭✭
    The products from the mint are beginning to resemble the magazine rack at supermarket check out lanes....trash theme of the month.... Cheers, RickO
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    ambro51ambro51 Posts: 13,616 ✭✭✭✭✭
    It's too much. They're still going to be stamping out those Native American coins at the same time. For 17 years. Best move I think would be to strike 200 coins, then secretly release them in "their" state. Now, THAT would awaken collectors!!!
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,863 ✭✭✭✭✭
    How about an economy where people use coins ? They're less costly than credit, except for the premium we must pay to collect them. What a design. What engineering. What brilliance.
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    cheezhedcheezhed Posts: 5,690 ✭✭✭✭✭
    Is this the only thing our two opposing parties can come to agreement on?
    Many happy BST transactions
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    ambro51ambro51 Posts: 13,616 ✭✭✭✭✭
    Exactly WHAT was innovated on the Northern Marianas Islands? Opening shellfish with a flattened 30.06 case?
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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    Oh God, no, no, no, no, no....

    From Coinworld:
    American Innovation $1 Coin Act on step closer to reality

    The American Innovation $1 Coin Act is one step closer to reality after the House suspended its rules Jan. 17 and approved by voice vote an amended version of H.R. 770.

    and

    As amended, and if signed into law, the legislation would allow the U.S. Mint to produce an initial, extra 57th coin in the program in 2018, in advance of the 56-coin program.

    :'(

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    shorecollshorecoll Posts: 5,445 ✭✭✭✭✭

    They could have a space themed series, then they could have INNY-bucks and OUTY-bucks.

    ANA-LM, NBS, EAC
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    rickoricko Posts: 98,724 ✭✭✭✭✭

    Although I am not at all excited about another 'fifty coin' state series, I do see a value...YN's do have a lot of fun collecting these coins and it does inspire an interest in numismatics. We have seen that in posts here on the forum already. So, while I will not be collecting them, I do see that value...Cheers, RickO

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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    @ricko said:
    Although I am not at all excited about another 'fifty coin' state series, I do see a value...YN's do have a lot of fun collecting these coins and it does inspire an interest in numismatics. We have seen that in posts here on the forum already. So, while I will not be collecting them, I do see that value...Cheers, RickO

    When was the last time you saw a dollar coin in circulation that a YN could collect? :)

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    rickoricko Posts: 98,724 ✭✭✭✭✭

    @BackroadJunkie .... At the Post Office two days ago.....I rarely see them anywhere else, though I have seen a couple in the cash register at the supermarket - though not recently. Cheers, RickO

  • Options
    CaptHenwayCaptHenway Posts: 31,574 ✭✭✭✭✭

    Re-GACK!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    ZoinsZoins Posts: 33,935 ✭✭✭✭✭

    Hopefully this means state contests will happen again!

    The Secretary of the Treasury would select the innovation, innovator or pioneer, or group of innovators or pioneers to be honored after consultation with the Governor or other chief executive of the state, the District of Columbia, or territory. The Secretary would also choose the eventual designs after consulting with the heads of the sites, the Commission of Fine Arts and the Citizens Coinage Advisory Committee.

    Private Mint News | 2010 Lincoln Reverse Finalists
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    dpooledpoole Posts: 5,940 ✭✭✭✭✭

    Youch! Not to say GACK.


    Here's a warning parable for coin collectors...



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    JBKJBK Posts: 14,793 ✭✭✭✭✭

    What fresh hell is this?! Who sponsored this abomination? This is just what none of us need...

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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    Update: It passed the house...

    H.R.770 - American Innovation $1 Coin Act

    01/16/2018 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.

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    ms70ms70 Posts: 13,949 ✭✭✭✭✭

    More crap.

    Great transactions with oih82w8, JasonGaming, Moose1913.

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    DBSTrader2DBSTrader2 Posts: 3,460 ✭✭✭✭

    VOTE THEM ALL OUT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

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    itsnotjustmeitsnotjustme Posts: 8,777 ✭✭✭

    Maybe it should be a bitcoin design, vice physical?

    Or a coin honoring the "innovation" of bitcoin. (Personally I think Bitcoin is a sham and a scam.)

    Give Blood (Red Bags) & Platelets (Yellow Bags)!
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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    Aw crap. It passed the senate, with modifications, widely expected to be accepted by the House. POTUS is expected to sign. :(

    H.R.770 - American Innovation $1 Coin Act

    If they're going to keep doing crap like this, then eliminate the $1 FRN...

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    JBKJBK Posts: 14,793 ✭✭✭✭✭

    And then after these it will be a state dollar series... :s

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    OnastoneOnastone Posts: 3,788 ✭✭✭✭✭

    So I'm guessing here that these will be similar to the President Dollars. Golden color. Set starts in circulation. Same size as the President Dollars. Not replacing the dollar bill but still worth a buck. Available in circulation and proof finishes. Edge lettering/dates.

    Why not make some changes and become "innovative"? How about a new color? White? Sized like a Morgan. Worth $5.00 and EU & Proof finishes only. Or perhaps add a tiny amount of gold and increase their value. Or make one version of the coin with two different finishes -a different finish on each side. What kind of innovation should these coins present???

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    BStrauss3BStrauss3 Posts: 3,176 ✭✭✭✭✭

    Yes and no.

    Yes the composition will be the same as the current golden dollar. Manganese brass.

    No there isn't any requirement that it start in circulation. Just says the Secretary (of the Treasury) shall determine how many to mint.

    So judging by the presidential dollars at the end somewhere between 4 and 7 million. And probably cost the same $33 for 25 face that the Native American dollars are running. Nothing like a 32% surcharge to make you unwilling to spend them...

    -----Burton
    ANA 50 year/Life Member (now "Emeritus")
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    coinkatcoinkat Posts: 22,798 ✭✭✭✭✭

    After reading this thread, I think I'm entitled to a Mickey's Big Mouth... another fine American innovation

    Experience the World through Numismatics...it's more than you can imagine.

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    kiyotekiyote Posts: 5,568 ✭✭✭✭✭

    As an Ohioan, North Carolina better not try to swipe powered flight.

    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
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    CaptHenwayCaptHenway Posts: 31,574 ✭✭✭✭✭
    edited June 24, 2018 3:58PM

    Gack squared!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    JBKJBK Posts: 14,793 ✭✭✭✭✭

    :s !!!

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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    @Onastone said:
    Why not make some changes and become "innovative"? How about a new color? White? Sized like a Morgan. Worth $5.00 and EU & Proof finishes only. Or perhaps add a tiny amount of gold and increase their value. Or make one version of the coin with two different finishes -a different finish on each side. What kind of innovation should these coins present???

    The composition, size and color of the brassbuck is already defined by law. Any deviation (even in design, which will be provided by this legislation) has to be an act of congress.

    The mint (or congress) cannot arbitrarily change the size or composition of any legal tender coin. Each coin has to adhere to a certain magnetic signature and size. Think vending machines.

    The only exception to this are the gold commems the mint issues from time to time (like the American Liberty), and even that exception is defined in the coinage laws.

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    19Lyds19Lyds Posts: 26,475 ✭✭✭✭
    edited June 25, 2018 11:55AM

    What an incredibly stupid idea this bill is. Are these people NOT aware that there is no place for a dollar coin in today's commercial marketplace?

    Ditto the comments on eliminating the One Dollar Federal Reserve Note as that's the ONLY way a dollar coin will survive.

    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
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    BackroadJunkieBackroadJunkie Posts: 3,745 ✭✭✭✭✭

    POTUS signed July 20.

    Welcome to another 56 coin series. This time in brassbucks.

    H.R.770 - American Innovation $1 Coin Act

    Sponsor: Rep. Himes, James A. [D-CT-4] (Introduced 01/31/2017)
    Committees: House - Financial Services | Senate - Banking, Housing, and Urban Affairs
    Latest Action: 07/20/2018 Became Public Law No: 115-197.

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    jmski52jmski52 Posts: 22,383 ✭✭✭✭✭
    edited July 26, 2018 4:26AM

    Making magnesium brass intrinsically valuable again! Think of it - how long will it be until "innovation" morphs into more and more politically correct social engineering? Five $ will get you $10 that it happens with this series. Any takers?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    pocketpiececommemspocketpiececommems Posts: 5,749 ✭✭✭✭✭

    And each innovation will have to be PC because we would not want to offend anyone. BTW the State coin would be a good one. Just a state outline and nothing more. That would be to simple :'(

    Pocketpiececommemoratives

    Lafayette Grading Set
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    TwoSides2aCoinTwoSides2aCoin Posts: 43,863 ✭✭✭✭✭

    This must be why Warren Buffett decided to give his money away. It ain't worth it.

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    mustangmanbobmustangmanbob Posts: 1,890 ✭✭✭✭✭

    What happened to the Secretary of Agriculture grandchildren series?

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    CaptHenwayCaptHenway Posts: 31,574 ✭✭✭✭✭

    Just remember, do not blame the Mint for this steaming pile of sludgeislation! Blame CONgress!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    WillieBoyd2WillieBoyd2 Posts: 5,039 ✭✭✭✭✭

    Is there going to be a coin for plastic straws?

    :)

    https://www.brianrxm.com
    The Mysterious Egyptian Magic Coin
    Coins in Movies
    Coins on Television
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    DBSTrader2DBSTrader2 Posts: 3,460 ✭✭✭✭

    THIS they have time to work on?! Nothing that actually improves the lives of their constituents?! No health bills? No preservation of Social Security & Medicare benefits beyond 2035 or so? No anti-election-tampering? NOTHING?! I, for one, think they've DEFINITELY earned their salary, healthcare benefits, per-diems, and re-election with THIS one....... Now go out and have a nice 5-week vacation. And don't worry.... all our problems (and then some) will still be here when you get back!! (Idiots....)

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