Why are coins minted with a date and mintmark anyway?
lloydmincy
Posts: 1,861 ✭
Dies used from prior years blooming overdate varieities, some coins not even minted in the date they say (1804 Silver Dollar for one). What was (is) the point of having a date on the coin anyway? For record keeping? No, the Mint can still keep record each year of how many were made.
Wow - would there be much of a numismatic market if coins did not have mint marks or dates?
Wow - would there be much of a numismatic market if coins did not have mint marks or dates?
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Mark
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<< <i>Clearly in the past the ability to trace where and when a particular coin was minted was important to determine if the coin had been illegally debased. >>
While debasement is not the big deal that it once was, quality certainly is. And maintaining the date and mint mark DOES put a marker on a mint's products. Not too long ago the Philidelphia mint seemed to be way behind the Denver mint when it came to quality. Perhaps noting that resulted in an improvement of their product.
K S
Jim
<< <i>So the Mint can hawk more products.
Jim >>
Interestingly, the mint removed mint-marks for a few years in
the 60's in an attempt to discourage hoarding. But somehow
they figured out that hoarding was actually improving their
bottom line so they added them back.
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<< <i>
Interestingly, the mint removed mint-marks for a few years in
the 60's in an attempt to discourage hoarding. But somehow
they figured out that hoarding was actually improving their
bottom line so they added them back. >>
They not only didn't use the three mint marks on circulating coinage (cents and quarters were
struck in San Francisco), but they also instituted a date freeze on coins. '64 issues were struck
well into 1965 and it was believed at the time that the 1965 date would appear on the new coins
forever. There was not a big hue and cry for the restoration of mint marks but there were a few
people who cared and some were very vocal. The mint restored normal dating and mint marks
to 1968 coinage when it was obvious the new coins were not being saved in large numbers and
the coin shortage was ended by the enormous number of clads which had enterred circulation. It
should be noted that cent and nickel production was actually down during these years which would
seem to imply that the shortage actually ended much sooner than officially acknowledged and the
high production rates of dimes and quarters were primarily to replace the silver coins which were be-
ing hoarded. It was likely this hoarding by the general public due to rising silver prices that was the
major cause of the coin shortage.
<< <i>Why are coins minted with a date and mintmark anyway? >>
I don't know, but let's just be glad that they do.