2016 Ronald Reagan $1 coin questions...

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Yes indeed...Ive been going over and over page after page plus shot a few emails to the fed....I pulled the freedom of information act clause to see if theyll be forthcoming about certain things in my questions....

Once I get an answer Ill post it......

Anyways Im just gonna try n recoup my losses on some lowlevel CUD and rim errors then circulate the rest into the system.....

Found out today that the Long Island Railroad Red ticket machines give presidential coins as change instead of paper money.....

I have a friend who has a brother whos worked for the railroad over 30 years and she told me he told her that the tellers have rolled up stuff in the backs of the safes at certain places I have the secret info to that hasnt been circulated yet back from 6-7 years back...Tomorrow Im on a mission...LOL





I opened another roll of 2016 Reagan P minted coins.......Theres spots on the edge where theres no gold tone color aswell as some extra lettering in the wrong spots....

What would be a proper term/type to classify the two extra L's on the rim in the pic in the world of minted errors....?...;-on the opposite side is an Extra U too...

 

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They do, it's built into the price of the sandwich. Those individually packaged sauces cost them considerably more than that napkin, so they charge for it. Notice they don't care if you refill your soft drink, but if you ask for an extra cup they will charge you for it. Why? Because that cup cost considerably more than the soft drink you put in it. (soft drinks are a BIG profit item)

A lot of people make that erroneous assumption. They think since they are paying a little extra that more care must have been taken with the item. Sorry but that's not the way it is. You want (hopefully) better care and handling, then you pay a lot more premium and get the mint set.

I would say that most likely the equipment has basically one speed, HIGH. And it is quite possible that ALL of the Reagan dollars were struck and packaged during one short period back in April and have been sitting ever since while the mint went one to other things.

Not state, that is a Federal regulation and it only applies to cents and non-silver five cent pieces. You are free to do anything you want to anything else. You can even mutilate, smash, whatever you want to to the one and five cents piece as well. You just can't melt them.

Congratulations, luck of the draw.

Cents and dimes are smaller and lighter. As the coins get larger and heavier they tend to acquire damage more easily. Dropping a 2.5 gram coin onto another one is much less likely to cause damage than dropping a 8.1 gram coin onto another one.

Not sure why you got that letter as the law only required banks to send any such notes they received back to the Fed. Don't know why or how they even contacted you. Since you didn't deposit it there would have been no reason for the bank to have ever made note of it. And frankly the government would be tickled to death for you to make money off the note. If they kept it the government gets nothing. If you sell it, the money you made was income that you are supposed to have paid taxes on.

 

Whenever I open a roll of Presidential dollars, I line up the date on the coin's edge. That way I can look for slipped, weak, or missing letters.

 

You know, if the Internet had existed in 1885 they'd have been speaking this same way about Morgans.

 

The packaging for the sandwich only touches the sandwich temporarily then its discarded where the same restaurant has to pay to discard that item....So whats the actual value of the dollar menu burger when you factor in the big picture yet those places still make $$$.............

Thats a long part of the story I didnt want to add to lose track of my point....Like I said I was a bank customer...They knew me because I cashed checks there weekly and had two accounts with them so you figure how I got the letter....Dont banks have their customers addresses and afterall I was there to also conduct a normal banking transaction too;-FYI....Back in 1990 we had to do banking very manually unlike today...FYI

The bank manager back in 1990 was an avid JFK follower and he was trying to tote the letter of the law to me trying to give me 5 fresh one hundred dollar bills in exchange and if you want to know how the manager got involved...The teller went and got him after I handed her the $500.00 bill and asked if it was real..

I said "no thanks";-As long as I know this bill is real Im gonna sell it for a profit.....He quickly sent a letter to the treasury dept like a sneaky rat....I soon after withdrew my money from the bank and put my money in a better bank because of the incident...

I wrote back to the treasury dept saying....Too late I already sold it....

The letter in my eye was a letter to try and force me to turn over my $500.00 bill so I cant profit off of it....I clearly wasnt a columbian drugdealer and the $500.00 wasnt gonna leave the country....

IMO Kennedy should of been a smarter man and just made owning a bill higher than a hundred a treasonous crime and they would have zero bills on US soil sitting in collections gaining outrageous value not to mention it would of screwed the columbian druglords that had those higher denomination bills squirreled away in their country cause they would of had to smuggle the cash back to try n launder it beforehand or forever have worthless mattress stuffing....It would of also increased the chances at catching the drugdealers if they tried too......

If you ask me by not doing that the columbian druglords with those $100,000.00 bills should be zillionaires if they ever decide to pull them out to sell to collectors....How tickled would the fed be when they do?

Wasnt the Krugerrandt illegal to possess here just like the Cuban cigar?

Here in NY for aslong as I can remember banks wont talk to you much if your not a customer or planning on becoming one...Its even quite hard to walk off the street to get change for a twenty for the bus without being affiliated with the bank...sometimes you get a silver lining in the black cloud and get a teller who helps out and provides you the change..

If you arent a bank customer and you have a bank issued check from your employer most banks charges you a check cashing fee for not being their customer even though your employer is...

 

These things......These are 1922's






I can see why but then again they werent done in todays technological age...They used twist type hand presses and had to pump out quite a few per day to keep up with demand and no I didnt pay the prices written on the 2x2's ....Thats what the guy I got them from paid...Lets just call it a buy two and get one free deal but with an extra 17% discount......LOL


I honestly think the edge lettering idea was a really bad choice and they kinda portrayed the presidents as being non-patriotic....Theres plenty of room on the coin for stars,,the date and e pluruibus unum...They just needed to rethink the idea a lil more and stop being so closed minded..

Those Conder tokens with the edge lettering was privitized currency unlike our Presidential coins which are public currency...

I have 2010 and 2013 circulated dollars from the train machine and I cant even read the edges anymore....Now those coins are just basically a presidential token without a formal date and key elements missing ....LOL

 

I just sent $6 to Littleton for the last 3 presidential dollars from Philadelphia and Denver.

 

So when you find these coins with bad edge lettering or say like a coin in the picture what do you do with them?

View attachment 529200

 

Nice....I have the 2016 Silver Proof Sets that has the 3 Presidents from the San Fran mint....

I also have the 2016 regular proofsets with the same 3 same presidents from the same mint but Ford has a shiner under his eye in one set...

I also have a 2016 uncirculated set with triple presidents from each P and D mints that are quite good and much better in quality over the stuff I bought in the rolls....

I hope you either get high quality stuff or one with a very rare and valuable error.....

 

When I find coins as you posted I spend them. Unless the edge has a very wide spread (found 2 so far over the years); doubled or missing letters (found none bought one ); or the coin grades at least 67 (found a few Mint State over the years) they are worthless to me and I spend them.

 

In this proofset Reagan he seems to have a Reddish copper looking thread pressed into the shiney backdrop

 

I have found over 50 with missing edge lettering aswell as abnormally spaced out lettering/date out of searching through 200 coins...You should get some Reagans minted near the end of April and from the Philly mint....

So what would you do with a Proofset coin that has rim errors that arent supposed to be there?

The proofset coins are stamped in a higher regard and the edge lettering has an orientation that matches the portrait ....The Edge is supposed to be struck in special collars.....

How would you treat any proofset coins that arent of proofset quality ?

I have a Reagan coin in one of my Silver proofsets I just found a minute ago where theres a small Vee shaped die chip or CUD attached to the top of the L in E Pluribus Unum?

 

Dear Cam2, Let me answer your questions in color:

 

I found a pretty interesting and informative article pertaining to the presifential dollars and the errors that are produced..

http://presidentialdollarguide.com/presidential-dollar-error-coins/

The other day I was looking for a coin place that has airtites and found a local guy who had a website with a page for errors yet his page was pretty much empty...

I asked if he stopped selling them and he said no he has a hard time keeping them in stock....I asked if he had any errors in the Reagan coin and if hes interested in looking some uncirculated ones over....Today I brought a chunk of the coins to him...

Soon Im going to post up pics to the types of errors I have listed below and whats of pretty good interest to error variety junkies ....

Youll be surprised at what pays compared to some of the articles posted and advice of the online experts..I always get a demographic of what the world wide web says compared to numismatists that can personally handle each coin plus i realize some of my pictures stink badly but...

Alls I know is when people who are looking to move into the neighborhood stops to ask me about the neighborhood while im mowing the grass or working on the car/truck I tell them it looks peaceful now but at night its a whole different story and the water tastes funny...In school I got a 1374 on my SAT test.....LOL

Heres a listing what was found so far...:I just got the email from the guy an hour ago...

Die clash – Traces of obverse show on reverse and vice versa....I have 8 of these..

Over-abraded die – “Severed Head,” left side of Liberty’s neck...I have one of these

Over-abraded die “Blinded Liberty” shows Liberty’s right eye polished flat...I have one of these but in a combo of errors too..

Struck through grease filled die – random spots & smears...I have three of these error types in proofsets...looks like lots of ugly coffee smears..

Die crack in torch “Broken Torch” type has moderate die crack..I have 5 of these

Minor die break – “Filled S” type...I have 3 of these

Minor die break“Extra Curl” has small die break in Liberty’s hair between curls...this ones in combo with the blinded liberty error..

Coins with a combination of lots of Diechips,,worn die ,die cracks and overabraderd die where Libertys eye is polished flat....I have two of these...two different sets of combos...

The rest are rim errors and rim errors mixed with one or two errors from the above column...

 

No. They made it illegal to import Kruggrands dated after 1985 but earlier ones were perfectly legal to own. (The idea was to protest apartheid, and to encourage the purchase of the US art medallions and later AGE's.) That restriction was later lifted and all Kruggerands are OK now.

That's one reasonwhy they put the lettering on the edge, to create more room on the obv and rev so the coin would have a less clutter appearance.

The only edge error I know of on the proof president dollars is on some of the Jefferson proofs. The edge dies were all the same except for the lettering and on some of the Jeffersons they got the positions of two of the edge dies reversed. Instead of saying 2007 S IN GOD WE TRUST E PLURIBUS UNUM, it says 2007 S E PLURIBUS UNUM IN GOD WE TRUST. They were discovered back in 2007 but pretty much no one knows about them. After they were discovered they made changes to the edge dies so they couldn't be installed in the wrong order.

There have been plenty of coins, including US coins with lettered edges before the President dollars, but all in the era before vending machines that do beat the heck out of the edges.

 

The edge lettering is random.