Another new US Dollar coin series in 2019?

Snoring......My presidential dollar rolls weigh way too much............with the impending zomby apocalypse, I'm heavily overburdened to get out of town with all of my goods.........dang, these things weigh a ton.

 

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Just what I need........an overly burdensome coin program that's going to over laden me..........

 

That's why they invented wheelbarrow Green.

 

Panama is not in South America, and their money is 1:1 with the United States.
The only way these new coins will work is if they keep the mintage low.
But they are never going to do that. KEEP THOSE MACHINES RUNNIN'!

 

Which would be because they’re a dolarized country and use US bills as currency

 

Admittedly I am glad that over here a quarter is not the highest denomination coin but that we have 50 ct, €1 and €2 coins. Also, counterfeiting the bimetallic pieces is not that cheap and easy. But things are different elsewhere of course. Yes, those $1 pieces are made for collectors only. However, while I found the Presidential Dollars to be somewhat monotonous, the Native American series I liked and like. So if the Innovation series is well designed, I may well collect those coins ...

Christian

 

I'm good with most anything new the mint puts out. I may not collect it but it may bring new folks to the hobby.
Question. Is there some kind of law that makes the mint produce some type of dollar coin each year?

 

What do you consider to be low? Since 2012 they've only done about 4 to 6 million of each design for the dollars.

 

Since those are NIFC about how many did they "sell"?
How many are left over? And what happens to those millions of unused coins?
Are they just taking up warehouse storage space at taxpayer expense?
Is there something unscrupulous and nefarious about making a one dollar face value coin and selling it for more than that amount? When it's not rare, precious metal and there's little demand?
These new coins will only have value if they don't make too many of them, the program is a complete disaster failure and years from now they will be considered rare and valuable.
When you don't circulate these coins, the majority of people are unaware that they even exist. Without public perception, they are just making these coins for collectors. These are not dollar coins anymore, they are commemoratives. When you make something just to be "collectible", it isn't.

 

I actually like the idea behind the series andnyhink it could be a really good one, I just really dislike the gold style they use. I’d love so,e bimetallic or really almost anything other than what they’ve been using

 

Does Littleton and other companies like it have a ton of lobbyist in Washington D.C.?

 

I guess I'll have to own these since they come in a Mint Set which I buy every year to fill holes in my Dansco's to pass on to my kin.

 

Yes.

The topic of this thread is a new law to start a new 14 year program of NICF dollar coins. In parallel to the existing Native American dollar program of NICF coins that nobody uses.

 

If they are not going to put them in circulation, they only need to make a limited amount (300,000 proofs?) for collectors.
The average person has no knowledge of these coins and would probably doubt that it was even real money if they saw one.

 

If I may also add, it would be nice to see S-mintmarked rolls, if these coins are struck.

 

NICF

 

NIFC NICF what's the diff if they don't circ...

 

Very good questions. If you went digging back through the Mint sales figures in old issues of Numismatic news you could probably figure it out. Mintage minus the roll sales, minus the bag sales, minus the mint set sales should give you the amount left over. As far as what happens to the leftovers it may depend on how the mint accounts for them. For coins made for circulation they immediately credit the books for the seigniorage as soon as the coins are struck. Melting down coins results in a large amount of money that would have to come back off the books. But since these are NIFC they may not credit the seigniorage until they are sold, or they may not be treated as having a seigniorage profit at all and just a numismatic profit. In which case writing off melted coins would be based just on metal value in and out resulting in a very small loss just from the manufacturing costs and any small losses from selling the scrap metal back to the processors.

 

14 years. I may have gone to my reward by then.

 

Maybe your reward is not having to deal with another series of who cares coins...