1000 Mintage Limit Silver Commem?? Your thoughts?
Raufus
Posts: 6,935 ✭✭✭✭✭
Sorry if this has been covered in anther thread (I didn't see it).
Many of you surely read the 11/16 CW cover story "Bills seek commems with 1,000-coin mintages." The article describes efforts by some in Congress "seeking silver dollars commemorating the opening of the International Civil Rights Center and Museum in Greensboro, N.C., with mintages limited to 1,000 coins"
The article notes that the House and Senate bills "...share a goal or producing 1,000 2010 silver dollars 0 in Uncirculated and Proof qualities." I think that this means 1,000 total. Thus there could perhaps be Uncs. with a 300 mintage!!!! WOW.
Do you all think that this is a good idea? Who would get them? Think that the Mint web site and phone lines were jammed with the Lincoln set, imagine this one! There would be a LOT of collectors taking the day off from work on issue day to be sure. How much would they bring in frantic aftermarket sales?
In the case of many recent Mint issues, The Mint has made a point of noting that via household limits they were seeking to insure maximum and fair distribution of Mint products. Many who follow the (most excellent) Moderns thread have discussed the Mint's excuse for not minting 2009 W Gold and Silver proofs as being that they could not insure enough to meet demand.
Now there is discussion of a 1000 limit silver commem.??? How would this be "fairly" distributed???? Seems like a set up for a mess - and a very, very valuable silver commem. to those lucky enough to get one at issue.
Your thoughts??
Many of you surely read the 11/16 CW cover story "Bills seek commems with 1,000-coin mintages." The article describes efforts by some in Congress "seeking silver dollars commemorating the opening of the International Civil Rights Center and Museum in Greensboro, N.C., with mintages limited to 1,000 coins"
The article notes that the House and Senate bills "...share a goal or producing 1,000 2010 silver dollars 0 in Uncirculated and Proof qualities." I think that this means 1,000 total. Thus there could perhaps be Uncs. with a 300 mintage!!!! WOW.
Do you all think that this is a good idea? Who would get them? Think that the Mint web site and phone lines were jammed with the Lincoln set, imagine this one! There would be a LOT of collectors taking the day off from work on issue day to be sure. How much would they bring in frantic aftermarket sales?
In the case of many recent Mint issues, The Mint has made a point of noting that via household limits they were seeking to insure maximum and fair distribution of Mint products. Many who follow the (most excellent) Moderns thread have discussed the Mint's excuse for not minting 2009 W Gold and Silver proofs as being that they could not insure enough to meet demand.
Now there is discussion of a 1000 limit silver commem.??? How would this be "fairly" distributed???? Seems like a set up for a mess - and a very, very valuable silver commem. to those lucky enough to get one at issue.
Your thoughts??
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-Paul
<< <i>Sorry if this has been covered in anther thread (I didn't see it).
Many of you surely read the 11/16 CW cover story "Bills seek commems with 1,000-coin mintages." The article describes efforts by some in Congress "seeking silver dollars commemorating the opening of the International Civil Rights Center and Museum in Greensboro, N.C., with mintages limited to 1,000 coins"
The article notes that the House and Senate bills "...share a goal or producing 1,000 2010 silver dollars 0 in Uncirculated and Proof qualities." I think that this means 1,000 total. Thus there could perhaps be Uncs. with a 300 mintage!!!! WOW.
Do you all think that this is a good idea? Who would get them? Think that the Mint web site and phone lines were jammed with the Lincoln set, imagine this one! There would be a LOT of collectors taking the day off from work on issue day to be sure. How much would they bring in frantic aftermarket sales?
In the case of many recent Mint issues, The Mint has made a point of noting that via household limits they were seeking to insure maximum and fair distribution of Mint products. Many who follow the (most excellent) Moderns thread have discussed the Mint's excuse for not minting 2009 W Gold and Silver proofs as being that they could not insure enough to meet demand.
Now there is discussion of a 1000 limit silver commem.??? How would this be "fairly" distributed???? Seems like a set up for a mess - and a very, very valuable silver commem. to those lucky enough to get one at issue.
Your thoughts?? >>
If they are proposing this to raise money for the center and museum, then all they have to do is make the surcharge large enough to reduce demand. Better yet, they could put all 1000 up on eBay and give the proceeds to the museum. Nothing wrong with cutting out the flippers in my book.
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
TD
I knew it would happen.
<< <i>Lots of bills go nowhere in Congress. Remember the Solar System 10-coin set?
TD >>
I thought that passed, but the Mint claimed it did not have enough planchets to produce the Gold & Silver coins and postponed it.
Great idea !!!
Let's do it.
<< <i>In one word, INSANE! Think of all the hard feeling it would create towards the Mint. >>
I haven't bought but just a few items from the mint since the Botanical Garden thing. I got my call in at like 10 minutes after 9 on the first day and was told I was too late. I read letters in CW where people ordered on the 2nd day and received the coins. I don't even remember what the special coin was on that set now but I missed it. Have had little to with Mint since.
Ron
<< <i>How is that worth it at all for the mint? It's got to cost more money to make the dies and strike 1000 coins than they'd make back in sales...Unless they charged an unusually high amount for the coin...
-Paul >>
Wasnt the mint saying earlier this year that they wanted to get away from issuing coins with a mintage of less than 50,000?
<< <i>Sheer speculation of course, but if they did to this what do you think that the coin would bring on the aftermarket?? >>
They may cost $1000 from the mint just to try to cover costs.
Maybe $10,000 and up on the aftermarket.