Don't blame the Mint (or the BEP)for obeying the law.

Discussion in 'US Coins Forum' started by satootoko, Nov 23, 2006.

  1. satootoko

    satootoko Retired

    In another thread there was a comment about the need to kill the $1 bill if $1 coins are ever to be successful.

    Whether you agree or disagree, it's not fair to blame the Mint for something it has no control over. The Bureau of Printing and Engraving, not the Mint, produces paper currency.

    Survey or no survey, good sense or stupidity, when the majority of the House of Representatives and the Senate approve a law, and the President signs it, all government agencies are bound to obey.
    • The BEP cannot stop printing $1 bills. Congress tells them what to print, and in the law authorizing the Deadprez series, it is directly ordered that the paper dollar must continue being printed.
    • The Mint can't stop produciing Sacs during the Deadprez series because the same law directly orders the minting of one Sac for each two Deadprez coins.

    Since the law says the program stops when the list of presidents who have been dead for at least two years is exhausted, the exact date of the final coin depends on when Ford, Clinton, the two Bushes, and whoever succeeds Dubbya, die. The probability is that Ford will get a coin, as his chances of living to 103 or so are pretty slim. All of the others are young and healthy enough that they may still be alive two years before Ford's coin is made, which means the Ford coin will end the series (as the law is currently written.)
     
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  3. b.j.

    b.j. Senior Member

    What about Carter? However, I do realize he may seem dead and actually look dead to many of us.;)
     
  4. 09S-V.D.B

    09S-V.D.B Coin Hoarder

    Blame the politicians!
     
  5. satootoko

    satootoko Retired

    [​IMG]

    Hard to predict whether he will make the cut or not. If it is minted, his coin will be the third one of 2016, so the cutoff date would seem to be June 30, 2014, when he will be nearly 92 - younger than Ford is now, and younger than Reagan was when he died..
     
  6. Conder101

    Conder101 Numismatist

    Not quite right. Congress authorizes the dollar note, but the Federal Reserve tells the BEP what to print by what they order. If they don't order dollar bills, the BEP will stop printing dollar bills (Other than a small stock that they will keep on hand just in case the Fed orders some they don't have to wait while the BEP prints them.) Look at the two dollar bills They printed a bunch in 1976 and then didn't print any more until I think 1995 wen the stockpile was depleted and the Fed ordered some more. If the Fed stops ordering ones, the stockpile will not decline, and the BEP will stop printing them.

    But how many people live into their 90's? I think Reagan and Ford are the only two presidents that have made it that far. The odds are not really in their favor. By the way, George H W Bush is just a little older than Carter so his odds aren't that great either.
     
  7. KLJ

    KLJ Really Smart Guy

    John Adams died a few months before his 91st birthday. And Clinton isn't exactly looking healthy. And let's assume for a moment that McCain is elected in '08. He'll be in his early 70s at that point.
     
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