Petition for US Mint to change their gold coin lineup

Hello everyone,

I'm new here and I have a petition which demands that the US Mint improve their gold coin lineup given the Treasury Secretary's "broad authority" to mint and issue gold coins. This petition calls on the US Mint to reissue classic coin designs.

This petition also calls on the US Mint to issue a 1/20th ounce American Gold Eagle which would make the American Gold Eagle program more affordable and accessible to all. If Canada has a 1/20th ounce Gold Maple Leaf, then why can't the US Mint have a 1/20th ounce American Gold Eagle.

Please sign the petition today at: http://www.gopetition.com/petitions/us-mint-needs-to-improve-its-coin-product-lineup.html

This mention of the site is OK once. But since the OP is mentioned, further postings would be self-promotion

Thank you for your support!

 

Log in or Sign up to hide this ad.

P.S. This petition also calls on the US Mint to submit some of the proposed numismatic gold coins produced to NGC and PCGS directly and to sell some of these coins based on the grades assigned

 

I hope you have connections in government or are prepared for a long hard campaign. That is the only way you will be victorious.

I'll look into this and let you know what I think of it.

 

You had me until "reissue classic coin designs". I simply am not a fan of the US mint reissuing old designs for a few reasons.

1. Its embarrassing to admit that our current artists are somehow inferior to previous generations.
2. Its old news, lets get something exciting and fresh.
3. It really is stealing from the owners of existing coins. Classic St Gaudens coins used to have a much higher premium over gold before they reissued the design in 1986 than today. Anyone holding traditional $20 double eagles in 1986 got hosed. Some would be true of any other design.

 

But US Mint marketing studies have shown that many people like the classical coin designs and that they are very popular with collectors. I'm sure there are many people who would find the different designs for different sizes interesting rather than the same design for 4 different sizes of coins.

Plus if we create a 1/20th ounce AGE, many people would also be interested in buying such coin too.

 

Yeah after reading the petition I strongly agree with medoraman. You could shift your focus into something else.But if anything it is best to stick with the direct PCGS & NGC submissions. Maybe push for a 1/20th OZ gold coin but that really is not neccesary a 1/4 OZ is arund $380 right now. Lots of people can afford that.

 

If the US Mint starts making millions of coins resembling older designs that will create widespread anger in the collecting community.

1. Collectors will be annoyed that they can never have a complete set
2. The value of the set as whole will decrease as what happened with the double eagles.
3. Once 2&3 both take effect a lot of people will stop collecting and before you know it CoinTalk goes up in flames because nobody collects coins anymore.

It is best to leave the past in the past and just make new designs that will impress collectors. I think they are off to a good start with these HOF coins yet they still do not have anything eye appealing to collectors in circulation just yet.

 

P.s Welcome to CoinTalk @Vocalcoincollectors

 

But many collectors collect the gold coins as types rather than a date and mintmark set. When the US Mint made coins such as the 2009 UHF, they were very popular.

Also there are people who don't like having 4 different gold coins with the same exact design as well. There should be something different for the investor coins and something different for collector coins.

 

So now you want the mint to get into bed with the grading companies? What next?

 

At least coin dealers wouldn't be breaking up the OGP to send them to the grading companies. Who wouldn't prefer having their coins certified and in OGP.

 

I'd sign the petition, but I disagree with all your points.

1. People that want the old designs can buy old coins.
2. 1/20 oz is too small. Saying that Canada does it is a weak argument.
3. I do not want the US Mint to cherry pick all the 69 and 70 graded coins and send them to be graded. That is something for private businesses and private individuals to do, not the government.

 

I'll opt for good old fashioned OGP. Don't need no grading company telling me what I have........

 

Oh, and welcome to the fracas Vocalcoincollectors.....

 

But when someone buys the coins in the OGP down the road after the product sells out from a dealer, then that coin must not be a 69 or a 70.

Also with the old gold coins, a St. Gaudens double eagle has .9675 oz of gold and a Indian Head Eagle has .4833 oz of gold and so on. Why can't we make classic coins with more proportional amounts of gold.

There are people out there who want the classic coins, but don't have the insane amount of money it takes to buy a high grade classic coin. Very few people have the money to purchase a MS 69 or MS 70 1924 St. Gaudens or 1926 Indian Head $10, if there are any available.

 

I like the idea of a 1/20th gold coin, but thats about where my agreement with the petition ends. I really dislike the "direct to TPG" part, I mean, wow, who greased whose pocket on that deal?

As far as changing coin designs. I am in support of changing coins to the older, classic era. No more dead presidents. Lady liberty all the way. Just not re-using old designs. Lets see some modern artists' twists on ancient and classic era coinage.

 

Maybe we could get the mint to pre-tone their silver coins and get PCGS and NGC label them acceptable. Maybe even a official label as "neon" or "rainbow"

Welcome to the grumps

 

1/20 Oz? Fish scale? Would we even see it? The 1/10 ounce is hard enough to see.

 

Well Canada does it and it's popular

 

I don't think the US mint makes 1/20 AGE's for the following reasons.

1. 1/20th oz coins are tiny, so tiny for some people, you need magnification to read the lettering.

2. There are usually high premiums attached to small gold coins that make them undesirable to investors.

3. Most gold investors can afford to buy 1/10th and above, which eliminates the need for 1/20th's.

I will say this....most 1/20th's Ive seen are small, but have thick planchets, if they could make a planchet half as thin, they could make a coin twice as big.