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US Mint Does Not Mention New Satin Finish for Mint Set Coins
itsnotjustme
Posts: 8,779 ✭✭✭
I expected something in the set description about the new finish.
I hope this wasn't an April Fools Joke that got a life!
I hope this wasn't an April Fools Joke that got a life!
Give Blood (Red Bags) & Platelets (Yellow Bags)!
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press release
Ron
It's not really a given that they'll look a great deal different than in the past.
<< <i>The satin finish, which will be continued on uncirculated coin sets in the future, will also help collectors differentiate between Uncirculated Coins in the United States Mint Uncirculated Coin Sets and those coins in bags and rolls that have never circulated. >>
Has this been an issue in the past? And is making a whole different type of coin really a solution to this "issue," or a way to make more money off an expanding collector base? I'm burned out on all the new Mint "product" that's now around and being planned for the near future.
<< <i>From the Mint's press release:
Has this been an issue in the past? And is making a whole different type of coin really a solution to this "issue," or a way to make more money off an expanding collector base? I'm burned out on all the new Mint "product" that's now around and being planned for the near future.
Great questions. I'd add, "how will this affect collectors of current coins and recently obsolete coins?" and
"will this have a dramatic effect on prices or demand for these or older issues?"
Only the SMS coins have had an issue with their point of origin. This is primarily
the mint's fault and to a lesser extent, collectors. These coins were issued in a
few different ways in the SMS's and a few more for circulation. There was also
considerable overlap but only a tiny percentage of coins are really affected. It
really doesn't matter where the coins originated but collectors see two types list-
and unsurprisingly demand one of each.
I doubt this change is so much a response to an issue as it is a response to a call
for higher quality. Mint sets contain the finest examples of the current year's coinage
usually but most of the coins in these sets are mediocre at best. There have been
many calls for better quality and this is the mint's latest attempt to respond.
If these coins are distinct from regular issue coins then there will be a lot more work
for collectors to keep up to date. Interestingly the cost of staying current will be al-
most unchanged especially for those already buying the mint sets, but the effort and
time required will be far higher. Thousands of people just buy a mint set each year to
keep up and now these may be different.
It could make collecting a lot more enjoyable for many people and might open up some
opportunities for speculators. The clad dime set which is already massive and longer lived
than the silver dime set will now be growing by five coins per year which is even more
than the silver dimes were issued at (4 coins/ yr).
The ramifications will come to light for years but I think I'm glad the eagle reverse
quarter is obsolete.
--Severian the Lame
<< <i>So will these new coins be in fact and by definition matte proofs? >>
No. But they might appear to be. They'd have to be struck twice to be proofs.