What does this refer too? NIFC = Not issued for circulation It that Proofs or Silver Proofs? Thanks Tim
Any coin issued for collectors, e.g., proof coins or silver proofs, are NIFC. The Kennedy half dollar is no longer issued as a business strike for use in commerce as it used to be. I think it has been 10 years or so since Kennedy halves were issued as circulation coins for people to use when they buy something at the store, so the Kennedy half is now an NIFC coin. Early proof coins were minted as gifts for dignitaries. They have made it into the hands of collectors as well. They would be considered NIFC.
Well, not really aside for the fact that they were made for collectors. But some proofs and silver proof sets are. If I find an NIFC coin in circulation I still keep it. Unsure on the mintages though. I also believe small dollars are NIFC as well now.
It means exactly what it says, any coin that was produced but was "Not Intended For Circulation". Pretty much any coin that was only available directly from the mint at a premium price over face value. All proofs are NIFC. Mint set only coins such as the 1970 D half, the 1973 Ike dollars, the 1987 halves, the 1996 W dime. Coins that were only available if roll or bag sets such as the business strike quality S mint ATB quarters, half dollars after 2001, dollar coins after 2011 (maybe 2012 not sure when they went to NIFC for those. When dealing with non US coins the term commonly used is NCLT, Non-Circulating Legal Tender.
So the Mint creates these coins for collectors. I'm quessing for profit, generating revenue from the promotion. Thanks for the info!!
There is info out there on numbers for Kennedy half dollar. Here is a sample: 2003 Kennedy Half Dollar Mintage and Specifications Circulation Mintage: 2,500,000 (Philadelphia), 2,500,000 (Denver) Proof Mintage: 2,172,684 (copper-nickel), 1,125,755 (silver proof) Mint Marks: P (Philadelphia), D (Denver), S (San Francisco) Composition: 91.67% copper, 8.33% nickel (standard) / 90% silver, 10% copper (silver proof) Weight: 11.34 grams (standard) / 12.50 grams (silver proof) Diameter: 30.61 mm https://kennedyhalfdollars.net/2003-kennedy-half-dollar/
Don’t forget casinos use them too when paying out a blackjack. Guess the casinos don’t really want to pay out quarters or have to make fifty cent chips for the table.
