I read in coin world that the new uncirculated mint sets will have a new finish ( satin ) What do y'all think of it? Will we need ANOTHER hole in our albums lets see... "regular" uncirculated "satin" uncirculated Clad proof Silver proof Oh man! Add in the P&D mint marks and thats SIX versions of each coin!!!! ( five for the non-silver coins like the penny, nickel, etc ) regardless, I am very excited for the new finish!
It reminds me a bit of Star Wars toys marketing tactics. Flood the market until everyone is sick of your product. And when you've done that, flood it again, and again, and again......... Don't get me wrong, I'm sure they will be great looking coins, but the reasons given for doing it are a bit flawed, if not insulting. I didn't know any of us needed "help" to tell the difference between an uncirculated coin in the mint celophane, and one out of a roll or bag. The mint seems to have a different opionion: "The satin finish, which will be continued on uncirculated coin sets in the future, will also help collectors differentiate between Uncirculated Coins in the United States Mint Uncirculated Coin Sets and those coins in bags and rolls that have never circulated." quote taken from usmint.gov website. To read the full blurb, click HERE
Well I can tell you what I think! I sold all my mint sets and clad proof sets this past weekend. I kept all my silver proof sets but decided it was time to end this constant purchasing from the mint. We are facing an onslaught of new coinage and all the sets will see price increases after next year if they start putting 4 new Presidential dollars in them, plus keeping the Sackie alive at the same time. The question is not when the prices will increase (2007) but by how much. I will stick with my U.S. classics and pre-1964 collecting, my euro and silver euro commemoratives, and my search for world beauties, as I call them! If that doesn't get all my extra cash I will grab some old U.S. currency, now and then, for the baby! Basically put, I am after things they just don't make any more in the U.S. and any coins my heart desires from the rest of the world.
Stupid idea. The reason I purchased a mint set was to get nice uncirculated buisness strikes. That reason is now gone. Its overkill and will only discourage many collectors.
I, too, feel that this move to differentiate the "uncirculated" version of our coinage from the "never circulated" is unnecessary. As a collector that buys each version of our coinage every year from the Mint (clad, silver, etc.), I now have to figure out how I'm going to start collecting the "never circulated" version, since it will not come in a set with an envelope like the "uncirculated" version will. And like you said lawdog, I can tell the difference. Oh, by the way crystal....legislation has been passed to end the Sackie next year. 2006 will be the last.
I'm wondering if the Mint isn't going to follow this up with a set of normal finish unc. coins. If they don't I'd be willing to bet that companies like Littleton will. There's truly a need.
Hmmm....this also will mean another error possibility....buisness strikes making it into "uncirculated" sets.
I had been annoyed about the new finish. I have a full set of Sackies (P, D, & S), and was rather proud of it, and was disgusted that I was going to have to buy a fourth coin every year. But now, if the series ends next year, I'll only have to buy two additional. That's not sooo bad.
Terry--I think you and me can agree on something!!! Yes the mint is charging way too much...I keep up on my mint and proof sets but I'm getting to the point where I don't even get them. Like you...I'm trying to go back to "older" coins that are worth something...that aren't clad...I'm also trying to get better dates and better grade coins as I see them as the better coins in the long run... As for the mint sets...I think its nuts and the mint shouldn't do it....they areonly trying to get more money out of us collectors...back in the good old days mint and proof sets were sold for only a few dollars over face value...and even the ASE that they do now...we can't even get BU ASE from the mint...it is nuts. Speedy
Mint set coins are struck on the old vertical single presses under higher pressure and with new dies. These presses are run more slowly and then the coins are washed and dried. The circulation issue coins are struck on the new horizontal quad presses and the coins are handled by automatic equipment into large bags which are shipped nation-wide and to a few territories and foreign countries. A small percentage are transferred at some point to be wrapped for sale to collectors by the mint. While the processes are much different the mint set coins are merely much more likely to be a high quality than the regular issues. There is no difference between a perfect mint set coin and a perfect regular issue coin. If you have a small quantity of each type though, the differences will be astounding. The mint has only announced a change in the way the dies will be prepared for the mint set coins. They willl be sandblasted and then chrome plated so that these dies will make coins with a little texture like matte which they refer to as "satin finish". Unless other changes are also made then these will have the same problems with planchet flaws, striking errors, and marking that the earlier mint set coins have had. In the past only about 2% of mint set coins have been very choice (gem) and the rest are usually riddled with problems. Since perfect coins were rarely made for circulation and few ever even looked for them, about the only source for gems were in these mint sets. In recent years quality of all mint output has improved and far more people are spending far more time checking circulating coinage for gems. This means that more gems are being produced and saved. Still though, circulation issue gems are in some cases essentially non-existent so if all coins' origin can be known then it will be much more complicated to collect or speculate in these coins. Imagine if only a few thousand of a states issue are made in gem for mint sets and then you'll still need a gem regular issue coin. This also could serve to make collecting either or both more fun and will lead to a charge on the banks for coins to check for nice specimens.
Tanner520, Under the current Presidential Dollar bill making its way through Congress it is stipulated that the Sacagawea dollar WOULD continue to be made during the Presidential Dollar series and after the series ends Sacagawea would continue. I have not seen or heard anything different since this bill left the House! Bluntly put I AM SICK OF DEAD PRESIDENTS and think this country has much much more to offer and it is apparent this will not happen so I will limit my purchases to the silver set only from here on out, and that is out of my love for silver! I also won't be spending any of my hard earned money on dead Presidential Spouse gold coins either. This is a typical example of Congress being totally out of touch with the rest of the world!
There was a good reason to come out with SMS sets in 1965, 1966 and 1967. Reason? The mint made no PROOF sets and collectors were faced with coins without mint marks. They wanted to buy something!! Now this is the other end of the spectrum! Business strikes, Proof Strikes and now Satin Strikes...oh my! I am not happy as I used to look forward to the plastic bags from both Denver and Philadelphia. I kept my Lincolns in the plastic square bag (cut out) and stuck them in a 2x2 with an Avery Label. This is how I filled my slots for the recent dates. Also, I waited till the end of the year to buy a MS67 or better PCGS SAC $1. I figured that strikes coming in the Mint Sets should be better than business strikes. Now they changed the rules and I can see it now...I will need a 2005-P+D business strike, a 2005-S Proof, and a 2005-P and D Satin Finish (SF) to complete the year for just the freakin' SAC dollar.
I am actually looking forward to seeing them, I really like the finish on the silver eagle coin ( they say the new finish will be the same one used on it )
Again, I'm sure the coins produced will be nice, but I don't agree with the logic of replacing the uncirculated mint sets with a new and improved "uncirculated" set. It will be nothing more special than a proof set. Nice. Yes. Pretty. Yes. But a true uncirculated buisness strike coin? Definitely NOT!!!!!
crystal, you are absolutely correct. I was behind the curve on H.R. 902 and the last time I looked at it there was verbage that the Sac dollar would be replaced. Now I see that there will be a simultaneous release, like you said. Wow...let me see...the Mint Set should have three pliofilm sleeves in 2007 in each of the envelopes from the P & D Mints. One sleeve has the 5 statehood quarters, one sleeve has the 4 presidential dollars and one sleeve has the other 5 coins - penny, nickel, dime, half dollar and golden Sac dollar. And, of course, the S Mint will now have three plastic lenses instead of two for the proofs. We're going to need a lot more room for coins....
