If the public (retail businesses and consumers) stop using cents, do you think the Mint would keep p
SanctionII
Posts: 12,683 ✭✭✭✭✭
..........or would it stop?
If, as Cladking states, that coins are ordered by the Fed from the mint to meet the demands of commerce; and if demand for cents eventually disappears, would the Mint stop production? Or is there some legal requirement, or government "policy" that regardless of demand, the mint keep churning out cents?
If so, could we expect bags of cents being stored in government vaults for decades (ala Morgans) only to be later "discovered" and then sold to the public by the GSA and Treasury?
If, as Cladking states, that coins are ordered by the Fed from the mint to meet the demands of commerce; and if demand for cents eventually disappears, would the Mint stop production? Or is there some legal requirement, or government "policy" that regardless of demand, the mint keep churning out cents?
If so, could we expect bags of cents being stored in government vaults for decades (ala Morgans) only to be later "discovered" and then sold to the public by the GSA and Treasury?
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next quarter would be minted in lower amounts . It happened during the great depression , where
certain denominations were minted in much lower numbers , or not at all . There were other instances
during history , where mintages are adjusted for demand .
With the above reasoning , it would seem that with little demand , the mint would lower or not mint
for a period of time .
Or , would the government look at the situation and interpret it as "Holy Cow! Not enough cents available!!!
We must increase production!!!!"
(Hey , that's my two cents worth!)
An authorized PCGS dealer, and a contributor to the Red Book.