Didn't a company a few years back do something similar in releasing so many cents in circulation that were unique? I think it was Ally? For a cash prize?
I guess my question would be for the U.S. Mint: What sort of collector do you hope to create through the scarcity plants? A YN who is looking for the big dollar, life changing find? Would that really stimulate interest in numismatics, or, would it be just about finding that lucky coin...
I'm not so sure I'd enjoy collecting as I do today if these plants were around when I started. Might not even be collecting if the case...I spent a lot of time looking though change for those late '30's dated Jefferson's, and was elated to find them, along with wheats, and an occasional silver. I always looked for scarcities like the '82 no "P" dime.
I think the U.S. mint is more concerned about making sales through their lack luster efforts; rather than truly developing interest in YN, or, potential YN.
Desperate times call for desperate action I suppose...so, how did special, rare, inserts with sports cards packs exactly help/save that particular hobby? Did it?
What do you think would interest more kids (and possibly adults): a one cent piece with animated pop culture characters on the back or a $5 coin with a dead President on it?
That is the point of this post isn't it? The US mint jumping the shark. Coins that have meaning or meaning less coins with colorful characters on it. That is the question that I'm putting forth. I think that coins that have meaning will get more of the general population looking at and caring about coin. While (insert meaning less character or object here) coins that needs to be special ordered and will never be seen by 99 percent of the population will do little to nothing to grow the hobby.
Besides, are special coins and circulating coins really the same thing?
Also, I don't hate the mint's efforts. I just think it will take something larger than this to change the long term trajectory of the shrinking collector base.
@HalfStrike said:
All they have to do is release some of the S uncirculated quarters into the bins and have them escape into circulation. They already are only doing about 925,000 of each uncirculated quarter design with an S already. That would get everyone interested in the quarter program again. Meanwhile people can still buy some from the mint directly. That way the bank tellers and coin flippers can't corner the entire market on them.
I've bought a few $25 bags of various designs and spent some of them. At 35 cents each it's no great loss, and it's fun to imagine one being found by someone putting together a collection from circulation. It's surprising that they are not worth more, considering that each one is less than 40% of the mintage of the 1950-D nickel. It's also curious that they are not included in the annual mint sets.
@CaptHenway said:
I have no problem with our hosts getting rid of the Disagree button, but here is a good example of why we need a "SAD" button. I has a sad.
Do you think they'd award Sad badges? I'd like a sad badge.
When I complained that I got five disagrees and didn't get a badge for it, two people gave me disagrees. Brutal crowd...
"Jumping the shark is crossing the point at which something that was once popular no longer warrants the attention it previously received, particularly when attempts at publicity only serve to highlight its irrelevance."
Or, when Fonzie did the jump, you knew the show should have ended two seasons ago.
A lot of people wanted a permanent Mint Director, you got one...
Well, up until now, they have been pretty restrained. Much of the crud coming out of the mint is stuff Congress mandated.
But colorizing coins and purposely introducing rarities into the coinage is something even I think should be left to the Perths and RCM's...
That said, unless Ryder gets congressional approval, the rarity will have to stay within the confines of the coinage laws, unless it's struck as a medal without all the devices that make a coin.
Here's a WAG. They could actually get away with making incuse coins. I don't think there's anything in the law that prohibits which way the devices show up. Might not be that hard, considering they way they make dies now. Every circulating coin, 10K mintage each would be good. Heck, if it's really injected into all the normal channels, 25K might be okay...
Then they could do that in the uncirc and proof sets, and wouldn't that boost sales...
It's hard moving forward from the familiar cent, nickel, dime and quarter.
New coin values? How about .10, .50, 1.00, and 2.50.....every coin we have is now worth ten times as much. Dollar coins become Ten Dollar coins. Even with that increase, I don't think that it's the right ratio to keep up with inflation, but change would become quite a bit more valuable! I think we would have to charge coins value up by 30 x to get back to where we once were. I remember when a roll of Lifesavers cost a nickel. A Coke from a vending machine was a quarter. It was common for people to pull up to a gas station and ask for $1.00's worth of gas.
Only Scrooge McDuck hoards money for its intrinsic value. That is not collecting. Kids collect what they find interesting.
I have to agree here, collecting isn't what can you purchase, but what is cool or rare. Or to get a series of something, or have a mixture of all types.
Oh well, at any rate, next year should prove to be interesting. When does the mint post their new offerings? Watching for a schedule from @BackroadJunkie
If the coins were worth something, the kids would have more motivation to spend it rather than save common coins for a collection. Though today's kids might prefer collecting virtual coinage on their mobile device.
As to the schedule, they usually have a preliminary catalog up by now. (If you don't count 2017,,,) I'll bet the innobucks are holding things up. Still, we should see a schedule soon. 2019 is only two months away...
I just read that the mint held a recent seminar on counterfeits. Mint officials admitted they were unaware of certain aspects of US fakes. What the heck are they doing all day? Peace Roy
I think producing an error that is released to the public is fun and fantastic. A few years ago the US Post office came out with a pane of upside down $2 Jenny stamps. There were 100 panes printed upright that were given out to post offices or slipped into mail order sales. My local post office actually got one. There were only 100 panes made and have sold for as much as $55K. There were some sour grapes about the distribution of sheets but seems like there always is on this kind of thing.
Thinking about this, I can only imagine the griping that is going to happen when the "random distribution" takes place. There will be recriminations all around. This is a perfect storm for creating both good and bad publicity. Buckle up.
Q: Are You Printing Money? Bernanke: Not Literally
@TwistedArrow1962 said:
I think producing an error that is released to the public is fun and fantastic. A few years ago the US Post office came out with a pane of upside down $2 Jenny stamps. There were 100 panes printed upright that were given out to post offices or slipped into mail order sales. My local post office actually got one. There were only 100 panes made and have sold for as much as $55K. There were some sour grapes about the distribution of sheets but seems like there always is on this kind of thing.
Comments
Didn't a company a few years back do something similar in releasing so many cents in circulation that were unique? I think it was Ally? For a cash prize?
I guess my question would be for the U.S. Mint: What sort of collector do you hope to create through the scarcity plants? A YN who is looking for the big dollar, life changing find? Would that really stimulate interest in numismatics, or, would it be just about finding that lucky coin...
I'm not so sure I'd enjoy collecting as I do today if these plants were around when I started. Might not even be collecting if the case...I spent a lot of time looking though change for those late '30's dated Jefferson's, and was elated to find them, along with wheats, and an occasional silver. I always looked for scarcities like the '82 no "P" dime.
I think the U.S. mint is more concerned about making sales through their lack luster efforts; rather than truly developing interest in YN, or, potential YN.
Desperate times call for desperate action I suppose...so, how did special, rare, inserts with sports cards packs exactly help/save that particular hobby? Did it?
That is the point of this post isn't it? The US mint jumping the shark. Coins that have meaning or meaning less coins with colorful characters on it. That is the question that I'm putting forth. I think that coins that have meaning will get more of the general population looking at and caring about coin. While (insert meaning less character or object here) coins that needs to be special ordered and will never be seen by 99 percent of the population will do little to nothing to grow the hobby.
Besides, are special coins and circulating coins really the same thing?
Also, I don't hate the mint's efforts. I just think it will take something larger than this to change the long term trajectory of the shrinking collector base.
I've bought a few $25 bags of various designs and spent some of them. At 35 cents each it's no great loss, and it's fun to imagine one being found by someone putting together a collection from circulation. It's surprising that they are not worth more, considering that each one is less than 40% of the mintage of the 1950-D nickel. It's also curious that they are not included in the annual mint sets.
My Adolph A. Weinman signature
Do you think they'd award Sad badges? I'd like a sad badge.
When I complained that I got five disagrees and didn't get a badge for it, two people gave me disagrees. Brutal crowd...
Or, when Fonzie did the jump, you knew the show should have ended two seasons ago.
A lot of people wanted a permanent Mint Director, you got one...
Well, up until now, they have been pretty restrained. Much of the crud coming out of the mint is stuff Congress mandated.
But colorizing coins and purposely introducing rarities into the coinage is something even I think should be left to the Perths and RCM's...
That said, unless Ryder gets congressional approval, the rarity will have to stay within the confines of the coinage laws, unless it's struck as a medal without all the devices that make a coin.
Here's a WAG. They could actually get away with making incuse coins. I don't think there's anything in the law that prohibits which way the devices show up. Might not be that hard, considering they way they make dies now. Every circulating coin, 10K mintage each would be good. Heck, if it's really injected into all the normal channels, 25K might be okay...
Then they could do that in the uncirc and proof sets, and wouldn't that boost sales...
If the coins were worth something, the kids would have more motivation to spend it rather than save common coins for a collection. Though today's kids might prefer collecting virtual coinage on their mobile device.
As to the schedule, they usually have a preliminary catalog up by now. (If you don't count 2017,,,) I'll bet the innobucks are holding things up. Still, we should see a schedule soon. 2019 is only two months away...
I found these in change the other day,not bad.
INYNWHWeTrust-TexasNationals,ajaan,blu62vette
coinJP, Outhaul ,illini420,MICHAELDIXON, Fade to Black,epcjimi1,19Lyds,SNMAN,JerseyJoe, bigjpst, DMWJR , lordmarcovan, Weiss,Mfriday4962,UtahCoin,Downtown1974,pitboss,RichieURich,Bullsitter,JDsCoins,toyz4geo,jshaulis, mustanggt, SNMAN
I just read that the mint held a recent seminar on counterfeits. Mint officials admitted they were unaware of certain aspects of US fakes. What the heck are they doing all day? Peace Roy
BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall
I think producing an error that is released to the public is fun and fantastic. A few years ago the US Post office came out with a pane of upside down $2 Jenny stamps. There were 100 panes printed upright that were given out to post offices or slipped into mail order sales. My local post office actually got one. There were only 100 panes made and have sold for as much as $55K. There were some sour grapes about the distribution of sheets but seems like there always is on this kind of thing.
Thinking about this, I can only imagine the griping that is going to happen when the "random distribution" takes place. There will be recriminations all around. This is a perfect storm for creating both good and bad publicity. Buckle up.
I knew it would happen.
Distribution of the "right side up" stamps apparently violated regulations.
https://washingtonpost.com/news/federal-eye/wp/2015/07/21/usps-botched-plan-to-make-money-off-the-most-famous-stamp-error-in-history-watchdog-says/
My Adolph A. Weinman signature
