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First Spouse legislation, Lincoln Cent changes
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<p>[QUOTE="CentDime, post: 184871, member: 7297"]Here is the legislation for these coins:</p><p><br /></p><p>First-Spouse Bullion Coin. Public Law 104-52, which established the U.S. Mint Public Enterprise Fund, requires the Mint to transfer any excess funds to the general fund of the Treasury at least annually. Based on information from the Mint and the numismatic community, CBO expects that the First-Spouse gold bullion coin would generate sales similar to recent commemorative coins. In addition, the Mint could sell bronze duplicates to the public; however, based on the sales of previous duplicates, we do not expect that those sales would be large. CBO estimates that the Mint would produce about 10,000 gold coins per design annually generating about $1 million a year in excess funds that would be recorded in the budget as offsetting receipts. </p><p><br /></p><p>Abraham Lincoln Bicentennial 1 Cent Coins. S. 1047 would direct the U.S. Mint to change the design of the current 1 cent coin beginning in calendar year 2009 to celebrate the 200th anniversary of the birth of Abraham Lincoln. Four pennies would be issued to reflect the four major periods in Lincoln's life. The legislation also would require the Mint to produce a new copper penny in 2009 with the same metallic content as the 1909 penny (Lincoln cent) in amounts appropriate for the numismatic community. </p><p><br /></p><p><br /></p><p>****************************************</p><p><br /></p><p>Interesting they want to limit the first spouse coins to 10,000. I hope they do limit them to that amount or even less, not sure many can afford the entire collection. I think if they have high mintage to start the series then it will drop off in mintages later as people can't afford the rest.[/QUOTE]</p><p><br /></p>
[QUOTE="CentDime, post: 184871, member: 7297"]Here is the legislation for these coins: First-Spouse Bullion Coin. Public Law 104-52, which established the U.S. Mint Public Enterprise Fund, requires the Mint to transfer any excess funds to the general fund of the Treasury at least annually. Based on information from the Mint and the numismatic community, CBO expects that the First-Spouse gold bullion coin would generate sales similar to recent commemorative coins. In addition, the Mint could sell bronze duplicates to the public; however, based on the sales of previous duplicates, we do not expect that those sales would be large. CBO estimates that the Mint would produce about 10,000 gold coins per design annually generating about $1 million a year in excess funds that would be recorded in the budget as offsetting receipts. Abraham Lincoln Bicentennial 1 Cent Coins. S. 1047 would direct the U.S. Mint to change the design of the current 1 cent coin beginning in calendar year 2009 to celebrate the 200th anniversary of the birth of Abraham Lincoln. Four pennies would be issued to reflect the four major periods in Lincoln's life. The legislation also would require the Mint to produce a new copper penny in 2009 with the same metallic content as the 1909 penny (Lincoln cent) in amounts appropriate for the numismatic community. **************************************** Interesting they want to limit the first spouse coins to 10,000. I hope they do limit them to that amount or even less, not sure many can afford the entire collection. I think if they have high mintage to start the series then it will drop off in mintages later as people can't afford the rest.[/QUOTE]
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