I Don't Know If I Like This W Quarter Thingy
BuffaloIronTail
Posts: 7,512 ✭✭✭✭✭
It's good for collecting.
It's good for the Hobby.
It's good for Numismatics in general.
It's good for publicity.
It is good in numerous ways unmentioned.
But is it good to purposely mint a rare or scarce coin?
Pete
"I tell them there's no problems.....only solutions" - John Lennon
2
Comments
It is an attempt by the mint to increase interest in coins and halt the steep slide in US Mint coin sales to collectors.
It is all about marketing.
Time will tell but are these coins really scarce if each will have a 2 million strike? Sure it may take a little while for them to start popping up. I think the initial wave of excitement on the secondary market, meaning TPGS examples, will be spectacular initially but in the long term I don't see these as anything more than hype. If the mint will do this with the quarters what's the next circulating "rarity" release? The w nickel? Who knows, maybe they already released the w nickel and its out there and the mint chose not to announce it yet? It seems possible since this is the year of the w cents and w quarters. Having said all that I am definitely in for all 5 quarters.
These really aren't rare or scarce with a 2 million mintage each. The only rare items to come out of this may be TPG custom slabs.
A big benefit for collecting is if people use quarter cherrypicker guides to look for really rare quarters while they are looking for these. Is anyone doing this? Perhaps some Boy Scout troops or coin club YN groups?
Mint marks have been all about marketing since the 1960s. That's when they really jumped the shark in my opinion. The West Point Mint had to make circulation coins in the 1970s to fill production needs but didn't put mint marks on them because the Mint didn't want people collecting them. Now it's the exact opposite, the West Point Mint is making coins not needed for circulation purposes but specifically for collectors to find in circulation.
The bullion ASEs struck at the West Point Mint without mint marks while the proof ASEs have them is another way to cater to collector preferences.
The Mint really understands how collectors think about mint marks and are using them with that in mind.
I hope this lasts long enough to introduce some people to collecting.
I also think it would be nice to have some smaller mintage coins out there, for example 5,000 mintage coins. That way people would look for the 2M mintage coins and 5K mintage coins at the same time. If there were only 5K mintage coins, only serious collectors would search for them, but with both 2M and 5K coins, some new collectors could get lucky.
Agreed. But put them into circulation instead of selling them makes a big difference. Like all the other "scarcities", or Key coins if you will............as time goes on, they will appreciate in value.
I said I didn't mind the concept. Good for the Hobby.
I don't like the Mint making scarce or lower mintage CIRCULATING coins ON PURPOSE.
Pete
I agree with this statement.
For me it will be fun. I for one won't purchase bricks of 25c.
Going to do it the good old fashion way, from pocket change during normal day to day transactions.
Going to take years...
POST NUBILA PHOEBUS / AFTER CLOUDS, SUN
Love for Music / Collector of Dreck
The Denver mint created 1.7 billion cents in 1963. Try finding one of those in a ms67.
Anything that is different that can be found in circulation is kinda cool. Imho
I like the idea to widen interest in coin collecting. Was the marketing done with vigor and enthusiasm? Is the Mint even competent do do a great marketing campaign?
Did anyone see a segment on the local TV news?
How about on one of the 24 hour cable news channels? They are hungry to fill hours.
Yeah, that's what I thought. Nada, Zip, Nothing.
The Mint is just incapable of taking advantage of a perfect opportunity.
I actually think it's better for something like this to take off from a grass roots perspective.
The Mint did a lot of advertising for the golden dollar, but this is for collectors and it may be nice for collectors to generate the interest themselves.
Great for collectors & the hobby.
This may sound strange coming from someone that just went through 3 boxes in 3 days. I'm not real happy about the program. The last thing I needed was something to trigger the treasure hunter/coin collector and my OCD.
I’m just now beginning to see 2018 coinage in Alaska, probably won’t see a single w up here ever
Well, Coinfacts Rarity Scale says anything over 1 million is common. By today's standards maybe not. It will be interesting to see how this shakes out.
These will certainly be scarcer that anything the mint sells directly as a collectible, regardless of the mintage of these items compared to the direct mint sold items.
For what it is worth, they said it would be a few weeks before they start to show up. So looking now will probably just be practice.
The best thing about this is if they come out in lower circulation grades so we’re not left with all 69s and 70s.
The problem with any limited edition is that it places an upper limit on the number of “complete” sets that can ever be assembled.
The key is how many will be found in pristine condition and how many will go into circulation.
The other thing I see is how many people get change anymore I know I don't .
Bank cards are the way now and not many people even handle cash anymore.
That and kids today have no interest in anything but tweeting.
@pitboss I agree and I have had to make both a mental and physical effort in using cash.
Why? Just in case.
I've taken to only using cash when the change will give me quarters.
Of all the purchases I've made so far, they've only yielded a single bicentennial quarter. Bummer.
Willy Wonka made five golden tickets. On par with 1913 Liberty nickels. IMO, that's the number of these special quarters that should have been made!
If collectors build anywhere near 2M complete sets, I'd say this is a smashing success.
If we're talking about say 5K, then I'd treat them more like the Cheerios Sac which isn't required for many “complete” sets.
2 million is no rarity. After initial excitement, just like with any other Mint release, they will fall into obscurity just like the state quarters and the spouse coins and all the rest....
Unless this is only a 'one time' deal. But I suspect it is a trial, and will result in multiple, multiple more similar gimmicky offerings.
It's sad... but I view the vast majority of the Mint offerings now as 'trinkets'.
If you want rare - 2017 Enhanced Uncirculated Set.....only 215,000 of those.....way less than 2,000,000.
Don't quote me on that.
Never lose the faith! LOL.
I have to move those 15,000 sets somehow.
Don't quote me on that.
And 215,000 of them remain in pristine condition.
How many W quarters will remain in collectable condition, only time will tell.
way less then 10 million, 2 million for the next 5 new quarters to come out in 2019
I will be looking for one... in change. Contrary to popular belief, many people still use cash. I have bags of coins that have accumulated simply because I use cash and my pocket becomes 'full' of change...so periodically I empty the change on the dresser, when that becomes full, I put it in a ziploc bag...and I have a LOT of ziploc bags to go through some snowy, wintry day. Cheers, RickO
2,000,000 2019 W’s? I think perfectly acceptable to spend.
I'm all in for any program the mint comes up with that will increase coin collecting.
Capital investment depends on confidence. - Martin Armstrong
Taking a page from the Royal mint...
It's a great idea IMO.
Mine (?
) will come in change or not at all.
It will probably go back in change as payment for some gimcrack.
I'm also looking forward to the mint "salting" bags with machine doubled treasures.
The Mint should quit trying to be a business and stick to what they were created to do.
Great transactions with oih82w8, JasonGaming, Moose1913.
I totally share BuffaloIronTail's sentiment, I'm really conflicted about this. I am excited to find the W Quarters, and I think it'll make for some fun coin roll hunting. Especially for quarters - it seems like you need to look through 10,000 quarters to find anything work keeping.
But I wonder, how does this increase interest in coin collecting? I think this might be a preaching-to-the-choir situation. Anybody who follows the mint (or a thread like this) is already into numismatics.
How many average Americans do you know that even understand there are different mints, or know what a mint mark is? I know that the last time I tried to explain to someone why finding a coin with an S on it was cool, their eyes glazed over and they were ready to fall asleep...
I think West Point minting quarters for circulation is novel, but anyone who isn't already a collector probably doesn't care.
I had to go to 6 banks to come up with 2 boxes of quarters this morning so word is already out there.
Did not find any S's in them though as these were mixed boxes and only had about a roll of the Lowell coins in them.
I ordered 4 more boxes to be in on Wed as banks are now short of them.
I should have ordered 10 boxes but I don't want to be a pain in the a$$ about it.
the coinstar machines will be getting some great business once all these searched quarters get cashed in
My PA bank didn’t have any quarter boxes. I ordered 3
Crank out slugs that people will use for money?
Agree, also, the Royal Australian Mint’s Coin hunt just ended on 8 Apr 19. Winners to be announced.
https://www.coinworld.com/news/world-coins/2018/11/royal-australian-mint-launches-circulating-coin-hunt.all.html
https://dollardiscovery.com.au/
Just picked up 2 more boxes.
That will make 10,000 coins so far.
Someone please put this ol' dawg out of his misery.
You deserve to find one! That is a lot of metal (weight wise) laying around!
Your way ahead of me, I just picked up 200.00 worth and had to order more. I used to always go in asking for old penny rolls and now I want new quarter rolls. The bank teller probably thinks I'm nuts. GOOD LUCK!
Looked it up, wrote it down. Applies to some politicians as well.
Maybe not rare or even scarce but I will be looking and how many will spend it if they get one in change ?
Same, I’m actively engaged; and I hope I don’t accidentally spend a W.
Nowhere near 2,000,000 collectors out there of each w qtr type—the prices will fall like a rock once eBay flippers start feeding on their own
Agreed. But you're talking 215,000 KNOWN sets. They weren't released into circulation like the Quarters will be,
There will always be questions about survivability numbers,
Pete