New US Dollar Coins - What's the problem?

https://www.coinworld.com/news/us-coins/2018/07/monday-morning-brief-for-july-30-2018.html

 

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For the love of all that is perverse and unholy. This suggestion actually became law? It came out of the committee on which I served at the Great October Mint Summit of a couple of years past in Philadelphia. We suggested inventors, and we said "get it off the quarters". I am SO unbelievably sorry, guys.

 

We DID suggest they do it with half dollars, but they rejected that idea on the spot.

 

Are any of these people on this committee even coin collectors?

 

I must be missing something, what is inherently bad about this?

 

To one extent or another, yes, or they wouldn’t have been there. It was dominated by people who make their living, in some way, from coins. Pure collectors were the Minority. We did not choose our subject; we were assigned one. Ours was “What’s the next coin program after ATB?” Our Minority report was “drop all circulating Commemoratives”. They were NOT amused.

“Stop abusing collectors” is the one thing that they simply WILL NOT DO or even consider. I got the sense that too many Mint staff jobs would be lost if they stopped the abuse.

 

Sad. Well you did what you could. Much appreciated.

 

Now, in hindsight, I feel I missed an opportunity to be even more of a pain in the backside than I was.

 

Some obviously do. But yes, VERY few old-school collectors do. I would be okay with it if the idea were compelling enough, but this is doing it because we don’t know how to stop any more.

 

I"m still a bit lost. So the Mint is ordered by Congress to create a bunch of non-circulating, artistically questionable collectibles intended to sell at a premium. The mint makes money doing what it's good at and uses the profit to balance (their?) budget.

In the worst case, the sales don't materialize, the coins are withdrawn from the market and the few "suckers" who did buy them suddenly have a bunch of legendary and truly rare coins they will eventually re-sell at a profit. Or maybe the mint will sell at least an average amount and break even.

Artistic sensibilities aside, who's the loser?

 

The problem started with the state quarters, which I thought was a good idea, I mean, it was 23 years after the bicentennials, and other than the Ikes and SBA dollars, it invigorated the hobby I thought. But why? Because it had been TWENTY THREE YEARS since new coinage basically. Honestly, with the plethora of modern issue coins out there now, imagine someone 150 years from now trying to put together a type set. It's like other collectibles, once they are produced merely as collectibles, the value has eroded. These won't circulate, so every specimen will grade high and be retained.

I for one don't like the idea of it, but whatever. I'll keep collecting what I collect and if someone else wants to do them, then it's no skin off my back. HSN will make a bundle.

 

No fair, you used the universal disclaimer. “Artistic sensibilities aside”. But the REAL answer is every owner of coins that somebody might want to sell to anyone who instead spends on these. SOME people believe they are entitled to a monopoly on the collector’s discretionary dollar. Those people include coin dealers.

 

Those are horrible...imho...where are the great designs from decades, no, centuries ago

 

In the past. There is no SERIOUS desire to bring them back.

 

Which is...too bad. At least from my perspective...but even people in times past eschewed some of the circulating coinage of their own time. The Flowing hair dollar comes to mind.

 

I’m imagining being at the first ANA convention listening to people dismiss Barber coins as “that modern junk”.

 

There have been some great designs last century I think. The Mercury, the Walkers, the Buffalo, those have to be some of the all time greats. And their were some duds in the former century too, the Barber coinage, maybe okay for a single denomination, but not for everything. Two cent pieces are okay, but I personally like the Kennedy design better, particularly the reverse. SLQ was too subject to wear for circulation in silver. IDK, I agree some of the state designs were bad, but some are okay, Kansas and Texas are two of my own favorites from that issue.

Unfortunately, the ATB quarters are all atrocious to my eye, but I guess everyone will have different opinions on it.

 

Right...exactly...but...will anyone, perhaps, ever consider something like this as being in the same "class" if you will, as the Barber coinage?