Thread: Susan B's almost gone

With the eminent change coming with the Presidential coin program, I expect that the Susan B Anthony Coins are going to be permanently retired. Now might well be the time to stickup and find quality pieces of Susan B., before they disappear from the banks altogether. I recently got about 200 of them and the kinds and I are looking through them for the best examples. Is anyone else doing something similar?

Ruben

Ruben,
This coin has been hoarded for so many years that it is my opinion that it will take years for this coin to show any real value

BRUCE "THE FRANK GROUP"

We still get Suzy Bs from the change machine where I work, they come out mixed in right with the Sacs, mostly 79s. I did come across a 1999 once. I may start a set of those someday when I run out of every other series to collect..lol.

i was able to get 29 Ikes today at my bank. no great ones thou. I wont even take the SBA anymore from the bank. got to many of them

I save a few nice ones from mint sets. There are a few really great ones and some that are PL.

I went to the bak and ask to buy a roll of Silver dollars and they have me S.B.A..... I said, whats this??? She said, Silver Dollars... I was shocked...

I started my collecting craze with collecting SBA's because they were easily obtainable from the bank. After collecting several hundred I had matured my collecting desires to include ASEs, so I cashed in all but the high quality SBAs and completed my set of ASEs. I have put together several sets of SBAs in BU condition and I think that's about as far as I'm going to go with them. I still keep about 40 XF/AU SBAs on hand to give to new young collectors as a gift, along with Ikes, Mercs, Buffs, and Wheaties. I find it important to inspire kids with the history behind the coin.

Ruben:
The coin show is tomorrow, pm me for info if you want to go.

Originally Posted by bruce 1947

Ruben,
This coin has been hoarded for so many years that it is my opinion that it will take years for this coin to show any real value

BRUCE "THE FRANK GROUP"

I never expect these to have much real value in my lifetime, any more than I would expect IKE's to have real value. Real Value to me is in the hundreds of dollars.

Never the less, despite the fact that IKE's have showed up in banks according to some folks, around here they have entirely vanished and to collect them now requires buying them in the market.

SBA's are going to go that way soon. And in addition to that they are lwo mint numbers, esepecially the 1981's


1980-P


27,610,000


0


1980-D


41,628,708


0


1980-S


20,422,000


3,554,806


1981-P


3,000,000


0
Available and sold originally only in Mint Sets.

1981-D


3,250,000


0
Available and sold originally only in Mint Sets.

1981-S


3,492,000


4,063,083
Available and sold originally only in Mint and Proof Sets. Found with Clear and Blob mintmark varieties.

1999-P


35,892,000


estimated 750,000
Proofs were sold by the Mint only as single, cased examples.

1999-D


11,776,000


0

Ruben

With all due respect, saving SBAs from the bank is not a good idea, in my opinion. Take that money and buy high quality examples - those are worth keeping. For a while in 2000 or so I was getting some nice BU SBAs from the machine at tge Post Office - I kept those. The others, though, are spenders. (Actually, in my case, most get my initials counterstamped on them, and THEN they are spent).

The govt will likely not "retire" the SBA or any coin, at least not in regard to recalling them. They made 90+ cents each when they made them, and if they recall them they would lose all that profit.

Originally Posted by JBK

With all due respect, saving SBAs from the bank is not a good idea, in my opinion. Take that money and buy high quality examples - those are worth keeping. For a while in 2000 or so I was getting some nice BU SBAs from the machine at tge Post Office - I kept those. The others, though, are spenders. (Actually, in my case, most get my initials counterstamped on them, and THEN they are spent).

The govt will likely not "retire" the SBA or any coin, at least not in regard to recalling them. They made 90+ cents each when they made them, and if they recall them they would lose all that profit.

I don't understand how this profit is calculated. If a coin is put into circulation and is highly circulated, then the Government gets value for the coin. If it is not circulated, it have almost no value to the government.

Ruben

Originally Posted by mrbrklyn

I don't understand how this profit is calculated. If a coin is put into circulation and is highly circulated, then the Government gets value for the coin. If it is not circulated, it have almost no value to the government.

Ruben

Easy, seniorage - when the mint made the SBAs it cost them approx 10 cents per coin to do so. And when the govt later sells the coins to the banks, they are paid $1.00 each for them. That results in a 90 cents profit for each coin they made and distrubted.

But if they were to recall those coins, they would have to pay the banks $1 each, which would mean they would lose that 90 cents profit they made. That they are not likely to do.

Originally Posted by GDJMSP

Easy, seniorage - when the mint made the SBAs it cost them approx 10 cents per coin to do so. And when the govt later sells the coins to the banks, they are paid $1.00 each for them. That results in a 90 cents profit for each coin they made and distrubted.

But if they were to recall those coins, they would have to pay the banks $1 each, which would mean they would lose that 90 cents profit they made. That they are not likely to do.

How many are sitting now in the Federal reserve? I don't think it works like this, not in terms of real costs. First of all, Wealth and therefore real money must expand when the economy is healthy. How does money get into the economy when new wealth is created? How? The bank needs to borrow money from the Fed at Prime and recieves money and te Fed makes interest. The bank takes that money and invests in, say Railroads. The railroads then pay the bank with interest above prime. The bank then pays the Fed with interest at prime and the spread is wealth in the bank.

The point is, that money comes into the ecomomy as currency by many mechanisms. The guenuine cost of the coins is how many times it circulates per year before needing to be replaced by another instrument of money.

Ruben

Originally Posted by smullen

I went to the bak and ask to buy a roll of Silver dollars and they have me S.B.A..... I said, whats this??? She said, Silver Dollars... I was shocked...

Same thing happened to me. I asked a friend who's wife worked at a bank to ask her if she had any Silver DOllars.

He called her and she said she did, so i asked her to buy 10 of them.

When i got them...SBA's


I spent them, so no real loss

Originally Posted by mrbrklyn

How many are sitting now in the Federal reserve? I don't think it works like this, not in terms of real costs. First of all, Wealth and therefore real money must expand when the economy is healthy. How does money get into the economy when new wealth is created? How? The bank needs to borrow money from the Fed at Prime and recieves money and te Fed makes interest. The bank takes that money and invests in, say Railroads. The railroads then pay the bank with interest above prime. The bank then pays the Fed with interest at prime and the spread is wealth in the bank.

The point is, that money comes into the ecomomy as currency by many mechanisms. The guenuine cost of the coins is how many times it circulates per year before needing to be replaced by another instrument of money.

Ruben

That is exactly how it works.

Ruben you are talking about two entirely different things, how money enters the economy has absolutlely nothing to do with how much money the mint makes on the seigniorage ( I misspelled it before).

Let me give you an example - in 1994 the US Mint produced over 13 billion cents. At the time, the total cost to produce each cent was 0.7 cents. That means they made a profit of 0.3 cents on each and every one of them, which translates in $40 million of profit. You can check these numbers for yourself, they are included in the Mint's Annual Report. It also includes how much profit they made on the minting of every other coin they produced. And every bit of that profit is given to the US Treasury and then into the US General Fund.