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<p>[QUOTE="johnmilton, post: 24808466, member: 101855"]I think that the current policy of the U.S. Mint is create items with limited mintages to create at least a temporary frenzy. If it makes money for flippers, more the better because it will create more frenzies in the future. Now and then, real collectors get shut out, which I don’t like. It’s not because I want all the stuff the mint sells, usually I don’t. it’s merely because I think that the mint should serve collectors first.</p><p><br /></p><p>The FDR situation was different. Coins that were of especial historical interest were exempt, but most people didn’t realize that. That’s why Louis Eliasberg became a collector.</p><p><br /></p><p>FDR recalled the gold because he wanted put it under government control and devalue the U.S. dollar. That made U.S. dollars cheaper, which encouraged exports which stimulated the economy. As soon as FDR had control of the gold, he arbitrarily raised the price from $20.50 (or so) to $35 an ounce. Those who held gold got a windfall. In those days, paper money was backed by gold, and FDR took the first steps to end that.</p><p><br /></p><p>So, creating numismatic rarities was not FDR’s intent, but it was a byproduct of it.[/QUOTE]</p><p><br /></p>
[QUOTE="johnmilton, post: 24808466, member: 101855"]I think that the current policy of the U.S. Mint is create items with limited mintages to create at least a temporary frenzy. If it makes money for flippers, more the better because it will create more frenzies in the future. Now and then, real collectors get shut out, which I don’t like. It’s not because I want all the stuff the mint sells, usually I don’t. it’s merely because I think that the mint should serve collectors first. The FDR situation was different. Coins that were of especial historical interest were exempt, but most people didn’t realize that. That’s why Louis Eliasberg became a collector. FDR recalled the gold because he wanted put it under government control and devalue the U.S. dollar. That made U.S. dollars cheaper, which encouraged exports which stimulated the economy. As soon as FDR had control of the gold, he arbitrarily raised the price from $20.50 (or so) to $35 an ounce. Those who held gold got a windfall. In those days, paper money was backed by gold, and FDR took the first steps to end that. So, creating numismatic rarities was not FDR’s intent, but it was a byproduct of it.[/QUOTE]
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