Petition for US Mint to change their gold coin lineup

Not attacking. Simply trying to get you to "understand" what others are saying. Both on and off the thread.

Besides, what's to discuss?

Both of you are convinced that a revival of some classic coin designs is what folks want based upon the UHR despite being told otherwise.

 

Log in or Sign up to hide this ad.

I know that many people would be willing to buy classic coin designs. Otherwise why is the US Mint keep going back at them with the American Eagles, the American Gold Buffalo, the Buffalo Silver Dollar (one of the few modern commemorative coins to appreciate decently in value), the San Fransisco Old Mint coins, the 2009 UHR, and potentially for a new series of reverse designs for the Platinum Eagles.

 

I personally have no interest in buying rehashed coins. The true beauty they have is in their history. Even a new commemorative has history as it is the start of a new coin, or even minting technique.

You made a point and it was discussed. Move on to a new topic.

 

I'll echo Bart from an earlier post when I say, I enjoy the classics as a one time commemorative but I would not like to see them produced on a regular basis........

 

You mean like the revival of the 2008 Fractional Buffalo's which was item #4 on VCC's petition and was subsequently dropped from the US Mints lineup for whatever reasons?
Or maybe the incused Indian designs as discussed in item #5?

 

My petition does not revive the fractional gold Buffalo's. My petition calls for a platinum Buffalo Nickel, Mercury Dime, and Walking Liberty Half.

 

This makes me feel like I'm at work. At my place of work people constantly lie to me to obtain what they want. They think if they spend 5 minutes thinking up a lie with a back story it can convince someone with 10 years of experience and 7 years of training. If he continues I I'm going to send this one guy with two names a bill.

 

The problem with that in my petition is that my petition calls for platinum Mercury Dimes, Buffalo Nickels, and Walking Libery Halves. Platinum coins tend to get made in lower amounts than coins of other metals by the US Mint. With a small number of platinum coins only made for 1 year only, and the higher price of platinum compared to gold and silver (especially in a good economy); it would be very difficult for collectors to be able to buy them in the aftermarket.

 

But folks don't want a 2017 Buffalo Nickel, Mercury Dime or Walking Liberty Half Dollar.

They want a 1913 Buffalo Nickel, a 1929 Mercury Dime and a 1917 Walking Liberty Half Dollar. They want classic coins, not classic coin designs.

 

I'm sure people would take the platinum too.

I wonder why does the US Mint want to make classic design reverses on its Platinum eagles

 

So..............you're wanting the US Mint to start producing some rarities that folks could buy online and when the bottom fell out of the platinum market they could in turn sell them for a profit?

Or maybe get their orders in quickly to sell to the aftermarket for a quick profit?

Your last statement pretty much defines what's know as a flippers paradise and it exists today as there are thousands of self investors out there who don't even know the US Mint has a website. As such, they ONLY buy on the aftermarket.

 

Because that the way they've always been produced.

 

That certainly is the case now. I sent back my 2013 LE silver set because of severe packaging defects.

 

I think you mean Detecto Talk.

 

Well, so that the playing field is level, here's the Rosconi petition:

The US Mint's current numismatic product lineup is not as interesting and attractive as it could be. The US Mint is in a position to revise its product lineup to make it more interesting and more attractive to its customers who purchase numismatic items from the US Mint.

One of the ways that it could be done is through the Secretary of the Treasury's "broad authority" to mint and issue gold and platinum coins.

This is an authority that must be taken advantage of by the US Mint. The US Mint has taken advantage of the broad authority to mint and issue gold and platinum coins to mint products such as the 2009 Ultra High Relief $20 gold coin which have been very successful and well received by the numismatic community.
We the undersigned call on the US Mint to use the Secretary of the Treasury's "broad authority" to mint and issue gold coins to produce the following numismatic gold coin products:

-A "low relief" with motto St. Gaudens Double Eagle. This coin would be an exact reproduction of the "low relief" with motto St. Gaudens Double Eagles issued from 1908-1933 as designed by Augustus Saint-Gaudens; the differences being that there would be 50 stars on the obverse and the coin would contain 1 troy ounce of fine gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. The diameter of this coin would be 34mm.

-An "ultra high relief" St. Gaudens Double Eagle. This coin would be a reproduction of the Ultra High Relief St. Gaudens Double Eagles made in 1907 and 2009, though more identical to the coins made in 2009. Like the coins made in 2009, there would be a rim that is slightly flattened, 50 stars on the obverse, the motto "In God We Trust", and the composition of the coin would be 99.99% gold (24 karats of gold). These Ultra High Relief St. Gaudens Double Eagles would also have Roman numeral dates and no mintmarks, similar to the coins made in 1907 and 2009. However the difference would be that there would be a 1 troy ounce version that is 27 millimeters in diameter and a 2 troy ounce version that is 34 millimeters in diameter. Other mints such as the Royal Canadian Mint already make 2 ounce gold coins, therefore a 2 ounce gold coin is not something unprecedented.

-A with motto Indian Head Eagle. This coin would be an exact reproduction of the with motto Indian Head Eagle issued from 1908-1933 as designed by Augustus Saint-Gaudens; the differences being that it would contain 1/2 of a troy ounce of gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. This coin would also have an edge with 50 raised stars. The diameter of this coin would be 27mm.

-An Indian Head Quarter Eagle. This coin would be an exact reproduction of the Indian Head Quarter Eagle issued from 1908-1929 as designed by Bela Lyon Pratt; the difference being that it would contain 1/8th of a troy ounce of gold with a composition of 91.67% gold, 3% silver, and 5.33% copper. The diameter of this coin would be 18mm.

We the undersigned call on the US Mint to take advantage of the "broad authority" to mint and issue platinum coins to issue the following platinum coins as a part of the US Mint's numismatic product lineup:

-A Mercury Dime. This coin would be an exact reproduction of the Mercury Dime issued from 1916-1945 as designed by Adolph Weinmann; the differences being that this coin would contain 1/8 of a troy ounce of platinum with a composition of 99.95% platinum. The diameter of this coin would be 18mm.

-An Indian Head "Buffalo" Five Cent piece. This coin would be an exact reproduction of the Type 1 Indian Head "Buffalo" Five Cent piece produced in 1913 as designed by James Earle Fraser; the differences being that this coin would contain 1/4th of a troy ounce of platinum with a composition of 99.95% platinum, have reeded edges, bear the motto "In God We Trust" on the left side of the reverse above the mound. The diameter of this coin would be 22mm.

-A Walking Liberty Half Dollar. This coin would be an exact reproduction of the Walking Liberty Half Dollar produced from 1916-1947 as designed by Adolph Weinmann; the differences being that this coin would contain 3/4ths of a troy ounce of platinum with a composition of 99.95% platinum. The diameter of this coin would be 30.6mm.

It is recommended that in order to not strain the budgets of US Mint customers that the US Mint discontinue the numismatic versions of American Gold Eagles, American Gold Buffaloes, and American Platinum Eagles produced. The bullion versions of the American Gold Eagles, American Gold Buffaloes, and American Platinum Eagle would continue to be produced. It is only recommended that the US Mint replace the numismatic versions of the American Gold Eagle and American Gold Buffalo coins with the St. Gaudens Double Eagles (both low relief 22 karats and ultra high relief 24 karats), the Indian Head Eagle, and the Indian Head Quarter Eagle proposed.

It is recommended that the US Mint enact these changes to the gold coin lineup in 2016 to coincide with the 30th anniversary of the American Gold Eagle program; the 10th anniversary of the American Gold Buffalo program; and the 100th anniversary of the Mercury Dime and the Walking Liberty Half Dollar.

 

While its "different from the original VCC petition, it still calls for the "discontinuation" of the numismatic versions of Eagles, Buffalo's and Platinum coins.

Lets discuss that aspect?

 

So you want collectors to make a choice between buying Buffalo's, Eagles, and the classic coins. What I agreed with VCC on is that the US Mint might not be able to pull in a profit if they force collectors to have to make a choice like that. During the 1995-1996 commemorative coin productions, the US Mint put so many different products out that collectors were too tapped out.

Like VCC's petition, it "recommends" the discontinuation of those products, not "calling" or "demanding" the discontinuation of those products.

 

In 2008, the US Mint "dropped" a lot of really neat programs in an attempt to minimize the amount of products sold.
In 2011, they added more baloney to their mix and their pretty much back to where they were in 2008 minus the State Quarter Spoons.

I do not want collectors to be forced into "dropping" their current collections in lieu of starting "your" new collections. The Numismatic Versions of the current "bullion" offerings are quite popular and collected and while you may "think" that folks would want to stop collecting them, I know of a lot of "Proof" Eagle Collectors that might disagree with your assessment. You see, the "Proof" versions of these coins fall under the "numismatic versions".

It appears that you and VCC do not have a firm grasp about exactly what you want changed. You just want to change it.

And keep in mind, this is only my opinion but I seriously doubt that's it ONLY my opinion.

 

The petition doesn't really sound like it "recommends" anything.

The whole petition reads like a demand, from the "US Mint needs to..." in the subject, through "...an authority that must be taken advantage of...", and the "We the undersigned call on the US Mint...", to the ultimate specifications as to what the US Mint "needs" to produce.

Change for the sake of change. You're either for change, or you're against it!

 

That is a very foolish assertion of yours. I do not want it changed because I want change. I want the collector versions to have a more artistic and historical feel to it, not just some mere special collector version of some bullion coin. I want the collector coins to be made apart from the bullion designs. I want the collector coins to be something that is artistic and historical, not something that is utilitarian like the bullion coins. The bullion coins are intended for investors who do not care about the historical feel and artistry of a coin. But as a collector I care about the historical feel and artistry the coins have the potential to carry.