Need help understanding modern coins

stevepk

I just picked up a 2017 Redbook and realize I've missed out on quite a few US coinage practices. I need help understanding what's going on with modern coins.

Cents:
A total of 8 billion business strikes in 2015 alone, nothing abnormal about that other than the new design from 2010

Nickels:
Nearly 2 billion business strikes in 2015 alone, nothing questionable here

Dimes:
Nothing strange other than a gold commemorative dime stuck in honor of the mercury dime, as though the US mint is commemorating themselves rather than a United States hero; I guess the US mint decided to give themselves a pat on the back. This is the only denomination that hasn't seen a design change since 1946. I think it's about time.

Quarters
The list of commemorative quarters just never ends. It was exciting back in 1999, but now I don't think anyone even notices these new designs. How are people supposed to keep track of all these? It reminds of me of the baseball craze of the late 1990's or the fall of stamp collecting. This is why I collect classic US coins. I can't keep up.

Half Dollars:
Perhaps one of the most bizarre practices of the US mint. Business strikes after 2002 were never released for circulation, but rather sold to the public in rolls of 20 or bags of 200 coins at sold at 1.5X to 2X face value. Does that mean the Kennedy half dollar is now a commemorative coin? If someone is buying 200 coins and paying more than face value, they are obviously buying them for resale. This defeats the purpose of a coin and it sounds like this is just an easy profit-making scheme by the US mint. What's the explanation? Once again, the US Mint thought they deserved a pat on the back with this one and issued a gold Kennedy half dollar to feed their profits.

Dollars
Presidential dollars are now sold directly to collectors and are not issued for circulation. Does that make these commemorative coins? Will living presidents be struck on US coins in the near future? Isn't there a law against any living person on a US coin? I see the Sacagawea dollars are still in production, but now are sold directly to the public and not issued for circulation. I'm starting to notice a trend, but don't understand the point other than easy profits for the US mint. Some people would call that greed. These are now commemorative coins that used to be normal business strikes but still contain no silver or gold. Once again, the long list of dollar coins is starting to get out of hand. What's the deal with the Kennedy presidential dollar coin? Did the artist call in sick that day?

Commemoratives:
Gold and silver National Park Service 100th anniversary coins, a Mark Twain gold half eagle, and a Mark Twain silver dollar new for 2016. I understand these commemoratives. You pay a premium, but in exchange you get something that has never been just an ordinary coin and you are getting gold or silver.

Platinum Bullion:
$100 proof platinum bullion coins have seen 19 designs since 1997. I have to admit most of these designs are impressive and very attractive coins. Besides, most people can't afford to stockpile platinum coins. I can let this one slide since most of the designs are so cool. Why can't other coins look this good? The cameo proof gives the appearance of an eagle flying at night.

Gold Bullion:
In addition to the Eagles and Buffalo gold bullion coins, now see first spouses. While the reverses look nice, the obverses of some of these coins look just awful. The Mamie Eisenhower portrait just looks goofy.

Once again, I don't see how modern coin collectors 20 years from now will be able to keep track of everything at the current rate the US mint is producing new designs. I also don't understand why the US mint is now selling coins above face value that used to be ordinary coins issued for circulation. It's like they are admitting people don't spend modern coins as they are intended. If anyone can help me make sense of it all, I would appreciate it.

uscoinguy

I can't speak about all your points- but i think with the Kennedy halves the mint must feel there are enough collectors that like the coin and want to keep a set up to date . Plus there are mint set collectors that would like to keep up with the annual sets. The presidential dollars were supposed to replace paper money- we all know how well that turned out. So again they were stuck keeping collectors happy until they completed all the presidents. I would bet the mint is happy that it is over with as of 2016 with the President Reagan coin! it looks like they will keep making the Native American Dollar until at least 2018- again really just for collectors.

ricko

Welcome aboard uscoinguy....you joined just as a new forum is launched....
Stevepk...I can relate to your frustration.... it seems the mint is very collector oriented (profit) in the last 20 years...
Cheers, RickO

asheland

I agree with most everything said. Some of it doesn't make sense.
And the platinum is pretty awesome.

uscoinguy

thanks Ricko- Longtime lurker- first time poster

TomB

Don't lay the blame at the doorstep of the US Mint. It is the US Congress that passes legislation requiring the production of many of the issues that you have written about and the US Mint must comply.

mannie gray

uscoinguy, I share your frustration/lack of enthusiasm for the plethora of issues.
I decided 30 years ago not to try to "keep up", and have been slightly saner and certainly less cluttered since doing so.
If an issue comes out that I happen to like, I'll pick it up.
I never understood the need to have everything, just doesn't matter to me.

ricko

TomB, you are correct.... It is true, the congress must pass the legislation. However, I am sure that there is much prodding from the Mint on most issues.... True, the congress does initiate some coinage ideas... but I think if we look at the plethora of designs, it seems reasonable that many come from a 'mint committee' as ideas presented to a congressional committee for consideration. Cheers, RickO