“Cents and Sensibility” Act reintroduced, aims to convert U.S. coinage entirely to steel composition

1943-D over D steel cent. (Photo courtesy of Stack's Bowers Galleries)

1943-D over D steel cent. (Photo courtesy of Stack’s Bowers Galleries)

On April 6, Representative Steve Stivers (R-OH) reintroduced the Cents and Sensibility Act (H.R. 2067), which proposes “to save the American taxpayers money by immediately altering the metallic composition of the one-cent, five-cent, dime, and quarter-dollar coins, and for other purposes.”

Cosponsored by Rep. Joyce Beatty (D-OH) and Rep. Pat Tiberi (R-OH), the act is further described in a press release as “bipartisan legislation [that] lowers the cost of producing pennies, nickels, dimes, and quarters by ensuring they are minted with steel instead of minerals imported from outside the United States.”

Under H.R. 2067, the new coins would differ from our existing coinage only in their metallic composition. Furthermore, they would be struck exclusively from steel produced in the United States, provided that “an adequate supply of an appropriate grade of steel [can be] produced in the United States in sufficient and reasonably available quantities.” The bill, which does not apply to numismatic coins, would affect all circulating coins beginning 90 days after the bill’s enactment. (Additional provisions of the H.R. 2067 can be viewed here.)

Rep. Stivers has long been a proponent of all-steel coinage. He first introduced the Cents and Sensibility Act (as H.R. 3693) and the Saving Taxpayer Expenditures by Employing Less Imported Nickel Act (H.R. 3694) on December 15, 2011. Those bills applied only to cents and nickels; the present Cents and Sensibility act covers all currently circulating denominations.

“This legislation is a common-sense solution to decrease the cost of minting pennies and nickels,” said Stivers of his 2011 bills. “Not only will it cost less, but steel is an American resource that we have and can manufacture right here in our backyard.”

The 2011 bills ultimately died, but a determined Stivers reintroduced the Cents and Sensibility Act in 2013—this time expanding the language to include all circulating U.S. denominations—and again in 2015. This time, he pointed out that “a study by Navigant Consulting reported that the federal government could save approximately $2 billion over 10 years, in metal costs alone, by changing the composition of the nickel, dime, and quarter to steel.”

As has been much discussed in the media, U.S. coinage is expensive to make, especially the 1- and 5-cent denominations, which cost more than their face values to produce. The Coin Modernization, Oversight, and Continuity Act of 2010 (P.L. 111-302), which took effect in December 2010, authorized the secretary of the Treasury to conduct research-and-development activities on coinage materials. Since that time, the Mint has released biennial reports on this research—one in 2012 and another in 2014, with a third, for 2016, being expected soon.

National cost savings are not Stivers’ only concern. Steel is a big deal in Ohio, and a natural interest for Stivers and his cosponsors, who represent the contiguous 15th, 3rd, and 12th congressional districts (which include and surround the capital, Columbus). The Mahoning Valley area—sometimes called “Steel Valley”—is a historical center of iron and steel production, and is one of many American regions that were affected by the steel crisis of the 1970s and, later, the influx of cheap foreign steel in the 1990s and into the 2000s. Despite these substantial hits, Ohio has ranked “second in the nation in raw steel production every year of the last decade… 13 companies on Fortune magazine’s U.S.-1,000 or Global-500 lists have iron and steel industry establishments in Ohio; three of them—AK Steel, Timken Steel, and Worthington Industries—maintain their world headquarters” in Ohio. (See “Advanced Manufacturing: Ohio Iron and Steel Industry, January, 2016.”)

H.R. 2067, which has the endorsement of the American Iron and Steel Institute, has been referred to the House Committee on Financial Services.   ❑

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Comments

  1. Tom P. - MA says

    Interesting. We propose to debase our debased coinage in order to save money.

    Trillions in deficit spending, but we can save a few hundred thousand!

  2. KCSO says

    Steel Coins?

    Just go ahead and put a fork into any hope of a resurgence or new interest in coin collecting…

    I view steel coins as nothing more than an expendable and consumberable medium that after a period of use, either gets recycled or rusts away..,

    Just like my past cell phones..,

    We now live in an era of convenience consumables.., and when the utility is no longer present.., toss it.

  3. KCSO says

    Cag – 20% import tax on Canadian softwood lumber? A surprise? Where’s this headed?
    Precious metals?

  4. Erik H says

    I just noticed that JM Bullion is now selling silver Krugerrands. The cash price is 20 cents cheaper than MCM but if you live in Florida buying from JM will save you 6% in sales tax.

  5. earthling says

    The Canadians need to call up the krackheds in DC and share a few ideas about Cents.

  6. cagcrisp says

    @KCSO, most Certainly PMs. Great for American PMs but terrible for foreign PMs. There will be very little opposition.

    Some willThink it will be Good for currently held Foreign Gold …

    …But that will be a False Hope…

  7. cagcrisp says

    Look for a New Corporate tax proposal unveiled on Wednesday. 15% tax rate. Add $2 Trillion to be added to the deficit over 10 years. Under current law that can’t happen.

    A work around is for the tax to sunset before 10 years.

    Smoke and Mirrors. Has to be good for PMs at SOME point in time…

  8. gatortreke says

    The Cents and Sensibility Act is all about saving money but says nothing about the value of the money they hope will be saved. There’s no long term thinking in this plan, just a proposal by the Congressman to help businesses in his district.

  9. earthling says

    Anyone got any insight into the Russian / Chinese plans for a Gold Backed World Reserve Currency?

  10. DBR says

    @ earthling re: news of a gold-backed world currency:

    I had not heard anything lately but conspiracy theories and speculation abound. But I really believe it’s possible now that USA is such a debtor nation. Any way you slice it $20 Trillion deficit is mind boggling. So much of a nation’s currency value is perception and psychological. How does one truly measure or gauge confidence and reliability? It’s not the “good faith” of the government anymore that underpins our currency as much as the rest of the world still has this crazy faith in the USA workforce: namely, that we will all keep showing up and working as hard as we do and try to be as trained and skilled as we are. You take that confidence in American labor away and we are toast, just a bunch of credit addicts spending and printing away money that is not worth what we say it is.

    As far as I can tell, what do we have to show for that $20 Trillion deficit? Primarily funding defense to fight foreign wars and secondly, continued funded for entitlement programs.

    We spent and printed money so that the entire nation wouldn’t “feel” the real impact of the Great Recession of 2008. Essentially the USA goes into debt and lives above her means just like most USA families do; it’s our national pastime. Apparently we have lifestyles that we can’t live without.

    We fear having a standard of living that’s not as good or high as our previous generations. Well….then we better start doing something about it rather than having our bizarro and endless political antics that never seem to advance our nation. Has anyone else wondered why no party’s ideology and philosophy hasn’t triumphed over the other’s yet? This ping pong game between the right and left is beyond tedious.

    Hey, I feel better now. Lol pardon my foray into the political weeds.

    On topic: changing our coinage composition is on par with the rest of the state of our nation: tacky. But if there’s any nation willing to try to make a silk purse out of a cow’s ear, well that is us. You think we could pull it off? I hope at least it is stainless steel or bimetallic steel with the golden manganese of our Presidential $1 coins. There’s a nice 1 Euro bimetallic coin like that.

    Where’s a Teddy Roosevelt when you need him? I’m glad I scooped up my gold 1916-2016 centennial designs commemoratives last year.

    The proposed legislation sounds as though they’d keep numismatic coinage the same compositions. So collector’s would still receive coins minted from gold, silver, copper, zinc, nickle, etc. But that creates a strange dichotomy and alienates the citizenry from their money in a way.

    Maybe it’s a transitional phase toward mere digital transactions?

  11. David says

    I like this idea of going to all steel. If this is done like Canada I don’t see a problem here. Ever see a new Canadian coin? Very flashy and proof-like! But I do think we should get rid of the cent though for additional savings. I can just hear the vending industry crying and complaining about the change.

  12. cagcrisp says

    I have No problem with going to steel. We are Eventually going cashless so this will just facilitate the move…

  13. isp_stuff says

    @KCSO – do you think they are done at 17,600?
    I know the Effigy was running under 20k until last minute sales put it over.

    I think Douglas still has weeks to go.

  14. Louis Golino, Author says

    I agree with gatortreke. From what I can tell, the bill’s authors have not done their homework. First, the cost of the metal in coins (non-PM) is only part of the total cost to produce. You must also consider many other factors, like transportation, minting costs, storage, etc., and these and the possible cost savings of using different metals were all assessed in an annual report by the Mint over the past few years that this article mentions. Did the bill’s authors even read the reports? The reports, as I recall, found there was no net savings from producing cents and nickels in alternative metals. In addition, the clad coins, dimes and quarters, already cost only pennies to produce and generate millions in seigniorage, so there is no need to change them. Also, the cost of pennies and nickels has come down and is offset by the other coins.

  15. Sith says

    Please, this legislation comes from the “Steel Valley.” Its quite obvious by now that their lobbyists are not as good as the lobbyists for Jarden Zinc Products, which operates under the umbrella organization “Americans for Common Cents.”

  16. data dave says

    I don’t believe another country’s currency is going to replace the dollar as the reserve currency anytime soon. I think it is more likely that either SDRs or gold might become more popular. My bet would be on SDRs so that the powers that be can inflate their way out of the big jam that they are in.

  17. Gary says

    Using an alternate metal for our coins is a great idea. But just changing the alloy of subsidiary coins does not go quite far enough. The cent and half dollar should be discontinued as a part of this new alloy paradigm. I propose that the nickel, dime, quarter and dollar would each also have a distinctive color achieved with 3 distinctive steel alloys or otherwise made sandwich style with thin color-plated steel bonded to a pure steel core.

    Also while they are at it, invent convenient sizes in steel for $2, $5, $10 and $20 coins and save a ton of money on the printing of $1 through $20 paper currency. This might give the vending industry a great resurgence with higher price point retail items.

  18. cagcrisp says

    Gold mining stocks are getting Crushed today.

    GDXJ is down 11% in the past week.

    Barrick Gold is Currently Down Over 10%.

    Barrick Lowered Gold production outlook for 2017…

  19. John Q. Coinage says

    If you can’t build your wall out of US Steel, then make money with it……rusting little nuggets after a few years..Ohio what is a friggin buckeye?

  20. fmtransmitter says

    Whats up bloggers/collectors? Question? I havent been reading much lately but did anyone else run into delivery issues with the ARES GODS of WAR coin from the Polish Mint?

  21. JBK says

    Two issues come to mind.

    1) if we change to steel, then Canadian coins (and Bermuda, etc.) coins will be indistinguishable from ours and will pass through counting machines unnoticed. So, the “savings” must be balanced out against the loss incurred when truckloads of cheaper Canadian coins are brought in to run through US coin machines.

    2) our clad coinage has proven to be remarkably counterfeit-proof. Counterfeiters successfully copy coins such as the British pound coin and even the bimetallic 1 and 2 euro coins, but our clad composition has, to the best of my knowledge, never been widely or successfully copied.

  22. fmtransmitter says

    This is what First Coin Company sent me…

    Dear clients,

    Thank you so much for your pre-orders of the ARES God of War coin!

    New update:
    The mint has to fix half of mintage due to production problems
    The Ares coin is very complicated to produce because of very high relief combined with gilding.

    Please do not worry as our company paid in full at the mint and we just need to wait.

  23. fmtransmitter says

    John Q. Coinage says
    APRIL 25, 2017 AT 1:58 PM

    If you can’t build your wall out of US Steel, then make money with it……rusting little nuggets after a few years..Ohio what is a friggin buckeye?

    It’s a nut from a tree…

  24. fmtransmitter says

    cagcrisp says
    APRIL 25, 2017 AT 12:21 PM

    Gold mining stocks are getting Crushed today.

    GDXJ is down 11% in the past week.

    Barrick Gold is Currently Down Over 10%.

    Barrick Lowered Gold production outlook for 2017…

    I talked to a Canadian miner on vacation and he said they are finding toones of it up there due to ice melting where it was always frozen…If they are finding the body of that climber who died in 1920, Id say the ice is melting..Not sure about global warming, but something is up and it is temps and heights we haven’t seen in a century…

  25. fmtransmitter says

    I am going to go out on a limb here, the debt is going to climb so big that we are no longer going to use any kind production for currency…I read about it in a book written long ago..

  26. fmtransmitter says

    Louis Golino, Author says
    APRIL 25, 2017 AT 10:40 AM

    I agree with gatortreke. From what I can tell, the bill’s authors have not done their homework.

    Too busy fundraising all the time..

  27. fmtransmitter says

    Erik H says
    APRIL 24, 2017 AT 9:13 PM

    I just noticed that JM Bullion is now selling silver Krugerrands. The cash price is 20 cents cheaper than MCM but if you live in Florida buying from JM will save you 6% in sales tax.

    Im willing to help any fellow bloggers via paypal..100% positive feedback on ebay and just a decent person trying to help our hobby

  28. fmtransmitter says

    Anywho, that ARES coin looks so sick! I paid for it long ago and I eagerly await it’s arrival! I love the Polish Mint and what they do there. I guess the coin is already doubled in price, with only 500 to go around, doesn’t take long if it’s a winner, or is it a weiner? 🙂

  29. fmtransmitter says

    Miss you all, will check back later for any comments…Peace out…Oh, im showing my age

  30. cagcrisp says

    16AN 2016 ATB SILVER UNC 5 OZ – FT MLTR 16,990 + 37

    17AJ 2017 ATB SILVER UNC 5 OZ – EFF MNDS 14,373 +131

  31. cagcrisp says

    16EA 2016 AM EAGLE SILVER PROOF 1 OZ 554,993 (2,522)

    16EB 2016 AM EAGLE GOLD PROOF 1 OZ 23,573 +38
    16EC 2016 AM EAGLE GOLD PROOF 1/2 OZ 5,677 + 4
    16EF 2016 AM EAGLE GOLD PROOF 4-COIN SET 17,243 + 7

    16EG 2016 AM EAGLE SILVER UNC 1 OZ 193,649 (2,699)

  32. cagcrisp says

    16XA 2016 WALKING LIBERTY 24K GOLD .5OZ 63,178 +89
    16XB 2016 MERCURY DIME 24K GOLD .1OZ 124,885 –
    16XC 2016 STANDING LIBERTY 24K GOLD .25OZ 89,490 + 21

  33. cagcrisp says

    17CA 2017 BOYS TOWN GOLD PROOF 1,278 +18
    17CB 2017 BOYS TOWN GOLD UNC 1,694 + 13
    17CC 2017 BOYS TOWN SILVER PROOF 18,505 +229
    17CD 2017 BOYS TOWN SILVER UNC 8,690 + 57
    17CE 2017 BOYS TOWN CLAD PROOF 14,554 + 94
    17CF 2017 BOYS TOWN CLAD UNC 13,319 +52
    17CG 2017 BOYS TOWN 3-COIN SET 4,570 + 42

    17CH 2017 LIONS CLUBS SILVER PROOF 57,896 +116
    17CJ 2017 LIONS CLUBS SILVER UNC 15,201 +36

  34. cagcrisp says

    17EA 2017 AM EAGLE SILVER PROOF 1 OZ 243,763 (18,820)

    17EA042 2017 AM EAGLE SILVER PROOF 1 OZ (BULK) 239 +11

    17EB 2017 AM EAGLE GOLD PROOF 1 OZ 4,300 + 94
    17EC 2017 AM EAGLE GOLD PROOF 1/2 OZ 904 +19
    17ED 2017 AM EAGLE GOLD PROOF 1/4 OZ 1,359 + 82
    17EE 2017 AM EAGLE GOLD PROOF 1/10 OZ 6,209 +236
    17EF 2017 AM EAGLE GOLD PROOF 4-COIN SET 6,559 +48

  35. cagcrisp says

    16SA 2016 FS GOLD PROOF 1/2 OZ – NIXON 2,521 +2
    16SB 2016 FS GOLD UNC 1/2 OZ – NIXON 1,618 –
    16SC 2016 FS GOLD PROOF 1/2 OZ – FORD 2,332 +2
    16SD 2016 FS GOLD UNC 1/2 OZ – FORD 1,617 +3
    16SE 2016 FS GOLD PROOF 1/2 OZ – REAGAN 3,462 +10
    16SF 2016 FS GOLD UNC 1/2 OZ – REAGAN 1,864 +6

    JQ1 2015 FS GOLD PROOF 1/2 OZ – TRUMAN 2,660 +3
    JQ2 2015 FS GOLD UNC 1/2 OZ – TRUMAN 1,869 +2
    JQ4 2015 FS GOLD UNC 1/2 OZ – EISENHWR 1,996 +2
    JQ6 2015 FS GOLD UNC 1/2 OZ – KENNEDY 6,653 +9
    JQ7 2015 FS GOLD PROOF 1/2 OZ – JOHNSON 2,653 –
    JQ8 2015 FS GOLD UNC 1/2 OZ – JOHNSON 1,773 +2

  36. oldfolkie says

    Sense? There is no remote grasp of sense in continuing the cent, and as far as I’m concerned the nickel. They are worthless in todays market and an inconvenience. I’m sure it costs more to roll them, count them, transport them, and use them than they are worth. Bring on coins we would actually use like denominations of $1, $2 and maybe $5 and $10 dollars. Our currency in an insult to common sense, it’s antiquated, and not practical.

  37. gatortreke says

    @ oldfolkie: I agree completely that there is no sense in continuing the cent or the nickel. I think a strong case can be made against the dime as well (inflation, inflation, inflation). If we are going to rework our coinage, we might as well do it right Yes, the move to digital currency is underway and having a system where only 2 coins are truly valued (the quarter and the dime) is a system to be mocked. Such a system certainly doesn’t aid those of us who would prefer to use coins in our daily commercial transactions, especially for smaller transactions..

  38. Old Big Bird says

    @cagcrisp – I see the mint threw us the sales numbers about 3pm. Lucky us.
    Some things of interest were the 2016 W ASE having a negative 2,512
    And the 2017 W ASE having a NEGATIVE 18,820.
    I can see some people ordered the wrong item and wanted the 2017 S ASE.
    But that is still a large amount of returns and does not explain the 2016 returns
    Just my thoughts
    Thanks for you numbers, I do my own spreadsheet and forward them on to some friends

  39. cagcrisp says

    @ Old Big Bird, My thinking is that the Negative number on the 2017 ASE was returns from dealers. It’s been Exactly One month since Launch and that’s about the time we see the dealers sending back rejects from cherry picking.

    The Surprising thing to me concerning the “S” ASE is that there were NO returns from last weeks 3,130 sales of the 2016 Congratulations Set…

    …SO…There are a bunch of people setting on 2016 Congratulations Sets Thinking they have the 2017 Congratulations Set (unless you think 110% increase in sales in One week was on purpose)…

  40. cagcrisp says

    PUBLIC SERVICE ANNOUNCEMENT…

    The Majority of you guys that purchased item 16RF 2016 CONGRATULATIONS SET w/e 04/16/17,

    You bought the wrong item.

    You were Attempting to buy item 17RF 2017 CONGRATULATIONS SET…

  41. Gary says

    @Louis… Not much real homework is done on the part of Congressional sponsors when they write their coin bill proposals. It shows with MANY of the commemorative coin issues and in the case of this steel coin proposal neglects how it might be a part of a greater effort to create REAL circulating coin denominations for the 21st century.

  42. cagcrisp says

    Effigy Mounds 5 oz. “P” puck (Animal Cracker)…

    Just how Dismal are the sales for the 5 oz. “P” puck?

    …Well… Launch week sales w/e 03/12/17 were 14,363

    Current sales are 14,373…

    …SO…There have been Net Sales of 10 “P” pucks in the last 6 weeks…

  43. Yes, But...You Can't Take It With You says

    Cag – how do you figure that the majority bought the wrong Congrats set (’16 instead of ’17). Are you just being sensational or hyperbolic?

  44. cagcrisp says

    @Yes, But…You Can’t Take It With You ,

    Here is the Exact wording “The Majority of you guys that purchased item 16RF 2016 CONGRATULATIONS SET w/e 04/16/17, you bought the wrong item.”

    I said Nothing about the Majority buying 2016 vs. 2017…

  45. Yes, But...You Can't Take It With You says

    Cag – so I assume that you are emphasizing that these were bought week ending 04/16/17. It certainly seems that you would be correct, given the dates of sale. I feel truly bad for those who made this mistake. Maybe there will be a huge amount of returns in the next week? Or would those have already shown up?

  46. Joseph says

    My darn 2017 Congrats sets are still on BO – anyone else?

    Me too, what is your order number? mine is 049858xx

  47. KEITHSTER says

    No I think some smartypants big boy with deep pockets called them up and goes ! How many of them 2016’s you all got left oh I’ll take em all!! So now you sit back and wait when all the 17’s are delivered some are going to want the16 set to go with it but wait only6,000 of those and you got the rest and they can’t find the rest anywhere so ouch ? And Good Luck With Those <"<"”>”>

  48. ips_stuff says

    I am a member of the B/O club for Congrats too…

    – some small amount of comfort knowing I am not the only member. Does not mean we will ever get them!

    IPS-STUFF

  49. says

    How has the mint been able to sell 409 17RF 2017 Congratulations sets if they’ve been unavailable since 2 minutes after they went on sale?

  50. Sturgeon says

    My darn 2017 Congrats sets are still on BO – anyone else?
    Still Back Ordered—–My order # 049852XX

  51. Jerry Diekmann says

    cagcrisp – taxes NEVER sunset. Here in California, a tax on the “rich” in this state was increased to 13.3%, by far the highest income tax rate in the country (Oregon comes in second at 9.9%) several years ago to balance the state’s ballooning deficit caused by the economic recession of 2008 & 2009. When the proposition went to the voters, it was stated that the law would only exist for 3 years, and then sunset into the sunset. Lo and behold – last year our legislature comes up with a new proposition to continue the tax for another 13 years – to 2030. We are not in the rich category and we voted for the first proposition, but voted against continuing the tax, as it was a lie by the politicians to end the tax after 3 years; it was just another example of the camel getting into Ahab’s tent and Ahab is no longer being in the tent – no xenophobia intended. But this latest tax continuation sailed on through because most people said “yes, tax the rich!”, when the rich already pay a very high percent of the income taxes collected in this state. I think the rich make out like bandits with the federal tax system, but definitely not in Cali8fornia, which taxes capital gains as ordinary income. Just wrong – wrong – wrong – and for what, a bullet train from nowhere to nowhere in the Central Valley. I learned long ago that when finance comes up against politics, politics wins every time. And now the federal government wants to spend billions of dollars for a 2,000-mile wall from the Gulf of Mexico to the Pacific Ocean? Good God Almighty!

  52. Koichi Ito says

    Remember that Canada, Australia, New Zealand, and Switzerland no longer use one cent or penny for medium of exchange!

  53. KML in KY says

    My congrats sets were on BO for a couple of weeks but I received them 4/20. Order # USM049853XX.

  54. A&L Futures says

    @ Kevin – exactly how many did you order?

    My order #: USM049852XX, has been b/o since the 11th.

  55. A&L Futures says

    @ Kevin – interestingly enough, my much smaller order (10-units), with an order #: USM049854XX is now processing.

    No rhyme or reason here, but glad to see 1/9th of my order is moving along.

  56. Kevin says

    I only ordered 1 – hopefully it won’t be a dealer reject, but at this point I’m glad I’m getting one without having to resort to eBay.

  57. Donald says

    After looking at the last several postings: Are we seeing the formation of a Congratulations Back Order Club? Some of the posters have already declared themselves as charter members. Are the Club by-laws being formulated?

  58. The Kid says

    A penny for your thoughts.

    Copper, gold and silver coins will always be collectable.

    The Kid

  59. Throckmorton says

    Interesting. I also have a 49856XX order which appears as dead as last Friday’s fish. I suspect that the smaller orders will be fulfilled with the rejects of the large orders previously shipped.

    Who are the best congress people to write a letter to about USM shenanigans?

  60. Throckmorton says

    Who knows the depth of collusion?

    And now, oddly enough, I just received notice that my order has shipped.

  61. cagcrisp says

    It’s Amazing how few rejects you get on Any product that has a favorable Secondary market.

    Just Amazing…Considering how many say they are Collectors and don’t pay attention to Secondary markets…

  62. Erik H says

    JD, I left Cali long ago and feel sorry for conservatives that still live there. When someone from Cali ask me why I left I don’t even bother trying to explain it to them because they just don’t get it. I now live without “State” income taxes, low sales taxes, no extra tax on sugary drinks and I can still get a plastic bag at the grocery store if I want (which I recycle without anyone telling me that I’m killing the environment).

  63. J JONAH JAMESON says

    A strong secondary market is usually the result of a sellout, which by definition means you can’t get a replacement, hence no rejects.

  64. Kevin says

    I would be willing to bet that if MCM or Apmex (or any dealer only interested in selling high margin graded examples) received a shipment with major defects such as a scratch, they would then reject it/them and return them to the mint. Is it really worth their time to sell a damaged coin to the public, even if it is a high demand coin?

    In turn, the mint would then possibly send the “reject” to someone like me who only wants 1 for their collection.

    I’ll be disappointed and maybe even angry if I do get a reject – but at the same time I will be happy to own one.

  65. isp_stuff says

    Well I am no longer a member of said club….

    Just got an email from mint that my last order for 2017 CONGRATS set shipped.
    keeping some of these for Grandson born last month.

  66. Donald says

    Lighthearted, Kev–with the realization that there are always some that take it at face value.

  67. Throckmorton says

    @A&L Futures – if you don’t mind me asking, how many did you order?

    a whopping quantity of six

  68. Bugzilla46310 says

    In 1964 two dimes could by a gallon of gas. In 2017, two 1964 dimes are still about the same as a gallon of gas. Go figure.

  69. joe#2 says

    For anyone that is interested ( not telling you to buy ) in the 2017 silver swan .9999 silver, APMEX has them available in pcgs-69 & 70… 🙂

  70. Luke K says

    Honestly, I think the government should stick with circulating copper, nickel, silver and even gold coins. They just wouldn’t have a written face value, just something like “one copper”. The penny-sized “one copper” then could have a sliding (increasing) face value, periodically set by the government based on inflation rates. Right now that could be about 10 cents. Voila! No need to every debase currency, as coins will automatically have an inflation-proof quality built into them. Plus, no more war on savers with essentially zero or negative interest rates. People could put all their savings they didn’t want to risk into coins. Plus with coins’ durability, they would last decades. It is common to find common old circulating coins (think old cents, nickels, dimes, Great Britain pennies, etc) in very warn out condition because many countries were on the Gold standard in the 1800s and part of the 1900s, so there was little or no need to debase the metals in coins, especially lower face value ones. Consequently it would not be unusual to find an 80 to 100 year old coin in a roll!

    Furthermore this idea could be extended to the American Silver and Gold eagles. I find it rather silly that a silver eagle says “one dollar” and a gold eagle says “50 dollars”.

  71. fmtransmitter says

    isp_stuff says
    APRIL 26, 2017 AT 1:51 PM

    Well I am no longer a member of said club….

    Just got an email from mint that my last order for 2017 CONGRATS set shipped.
    keeping some of these for Grandson born last month.

    Congrats! Hope he gets the bug!

  72. fmtransmitter says

    Oh, and if you work at Govmint and troll this site, please stop calling my phone. I never asked for anyone to call me…Thank you!

  73. Silver Savior says

    It figures they would get around to producing garbage coins. I know I been holding the current modern coinage in bulk because at least it’s still made out of semi good metal. They will trade at premiums like silver coinage.

    I knew it was coming. Been holding current metal composition coins since 2006! I do not spend the coins they are too valuable. Get ready for the garbage coins! Won’t be wanting those.

  74. fmtransmitter says

    Cali is tough, and now that Trump doesn’t like the Dems OR Arnold, their wonderful Governor pushed thru that 53 billion dollar tax hike while the halls were empty for Easter break…SMH

  75. fmtransmitter says

    Trade dollar: The Trade dollar is the only case in U.S. numismatic history where a coin of the realm has been demonetized, although that was changed in 1982 when the coin again became legal tender. How much are Trade dollars worth?

    You can get a good one for under $700…High grade is like a b.o.a.t., break out another thousand…:)

  76. earthling says

    Lately I’ve taken to using a Card even at McDonalds. It’s the easiest thing in the world, hand over the Card, get Card back with receipt. .. get the goods… go.

    No one complains about you charged $2.12 for 2 Cups of Coffee. No worries about handing over Cash and getting back any change.

    Who needs Cents, Nickels, Dimes ? Or Paper Cash either.

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