US assay office

Maybe someone can sum this up briefly, since the differences are unique. What is the major difference between coins from the Dept. of the Treasury and the US Mint. Let's also discuss an assay office.

 

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There is no difference at all except for the packaging. They are all produced by the US Mint.

Chris

 

But...? What about transport? More damage to coins?

 

And why does the us mint not need an Assay office? Or a better question would be, why does the treasury need one???

 

The US Mint produces all the coins so there really is no difference except for the packaging.

 

I'll admit that it has been 11 years since I ordered bags & rolls from the US Mint, but if my memory serves me, they were shipped from somewhere in Tennessee. So, what's the difference?

Chris

 

That would take a LONG answer and I don't have the time right now.

What is the date stamped on that package? November what?

 

Thank you mod. You package that perfectly into a nutshell. Well so the mint makes coins for the treasury basically. The assay office guarantees the metal is correct composition. You can buy coins from either source. Is there a historical advantage or disadvantage of buying from either of the two?

 

That's why I want to know what the date on the package is. At one time you could order coins directly from the Treasury. I'm wondering if this Assay office address could have been used for shipping back then.

No, that can't be it. It shows a zipcode and they weren't in use until around 62 or 63. By then I think all ordering would have been through the mint. I have no idea what the US Assay Office Numismatic services would have been.

OK found part of the answer. Apparently orders for coin sets used to be placed through the US Assay Office Numismatic Service. In 1971 the address for orders were placed through an address in San Francisco. Still don't know when the order address was in New York. The date on the package would help narrow it down but I suspect it would be between 1962 and 1968. Possibly earlier as well but the sipcode on the package shown as I said would be after 1962.

 

Is there a difference in handling depending on the methodology or type of mint product for the same type of issue? Which is the best method for obtaining the highest grade business strikes?

I asked these questions when getting into Hungarian moderns, even though they have only one mint. After some searching, I found the answer was actually quite complicated, poorly documented, and it ended up with me buying some obscure mint products for my modern set, and getting NGC to recognize a third strike type for modern Hungarian issues. I don't know the answers to the above for the US mint, but I suspect it may be more complicated than at face.

 

So, in short, manufacturing and distribution happen at different locations, which also may change in the future.

Of course, there are also Coin Terminals/Depots, wholesalers, other secondary retailers and financial institutions.

 

This is the suspect that has peaked my interest. "Uncirculated Ike - postage paid by Dept. of Treasury"... and he has coin strike distractions.

 

For these coins sent out from the Mint, Assay Office, Treasury: They are legal tender from the minute they are STRUCK at the mint, not when issued as souvenirs to collectors or in mint bags for bank distribution, right?

In my research on Korean coins, Bank of Korea documents state that unissued currency held in their vaults is "neither an asset nor liability of the Bank of Korea, nor is it included in calculations of issued currency."

 

@mlov43 in the US I believe is it when they are delivered by the coiner that they become money. Up until they they are counted as bullion by weight.

 

...not trying to argue...imo, coins actually become money after the Mint has culled out defects and the QA Dept. approves them to be released for packaging and subsequent transport.

Spark

 

Oh!

Now I have two versions of when a coins becomes money (at the US Mint):
1) at the moment it is struck
2) after inspection/release by "coiner"