Satin Finish Coins

Has anyone heard (and have a source) for HSN's report that the US MInt will no longer make satin finish coins after 2009? If it's true, I can't believe it, just when the Mint got it right! Why buy uncirculated mint sets if they're the same coins one can get at aface value from a bank? I for one will stop buying uncirculated mint sets if the satins are gone.

 

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That seems to be the talk around these parts lately but the only substantiation seems to be coming from HSN. As of late there has been no official announcement from the mint. I'll continue to buy the mint sets because it's just too darned difficult to get the mint state coins that you need for your albums from the local banks. With the so called "coin glut" they're just not ordering the new issues from the federal reserve.....

 

Yeah, but the mint set is the expensive way to buy the coins. If the satins are gone, I'll get some coins from the bank and order rolls from the mint.

 

Before satin the sets were different than the coins for circulation.
I also would like to know if the mint has ever said they will not be making satin.

 

Ordering rolls from the mint can be expensive. Monster markup.....

Don't get me wrong. I do it myself with the presidentials.

 

There was a time when they'd pick them right from the production floor....

 

Yeah, I know what you mean, the mint makes out on the rolls too.

 

So far it looks like only HSN is repoting no more satins will be made. There's nothing on the Mint's pressroom. But, that's a heck of a statement to make with no back up.

 

I'd like to encouage all those who like the satins, to call the mint at 1-800-USA-MINT and ask them to continue the satins.

 

That's true but for many years before the satin coins came out they stated the mint set coins had extra care taken and they were much nicer than the average coins that came off the floor. I actually wish they would stop the satin program. I don't wish to search rolls.

 

me too....

 

Still have to have an example of the old business strike. But, I think the satins are a distinct variety (as do the TPG'ers), which at the moment are produced at nice low mintages. I'd have to say the satins are just another name for a matte proof. If the the satins follow the same path as the Unc modern commems, they're going to be the rare one to own. And, as we both know their wasn't a lot of difference, if any, between mint set coins and bank rolled ones.

 

I heard exactly the opposite from the Mint. They said unc sets were business strikes with no special attension paid to the coins and they looked like it. I'd say you got lucky with your unc sets if they looked better than the junk found at banks.

 

One unintended consequence of making satin finish coins for the Mint Sets is that people (and boy, have they!) put a lot of pressure on the banks to acquire new (current year) coins. If the mint goes back to circulation strikes in Mint Sets, the whole 09 Nickel and Dime "coinundrum" will never happen again, people will just get examples from the packaged sets, and the banks can go back to dealing with the needs of commerce not collectors.

 

Glad to hear at least the banks will be helped (again). lol Guess we're all entitled to like what we like. Guess the satins aren't well liked or the mintages would be higher. OR, is it that the mintages are low because collectors tired of buying mint sets with the same junk they could get for face value, thus mint set sales were down and the mint tried to increase sales by giving collectors a new variety, available only in mint sets. If the Mint stops satins now, they neglected to give the collector market a chance to come back - at times it takes the collector market several years to notice a change and begin ordering it because they were left out of acquiring nice low mintage coins. Take a look at eBay, one of the strongest markets at the moment is the low mintage satins. Well I guess if the mint does stop satin production, at least they did give us low mintage keys to many series, key date coins that are close to matte proofs.

 

Remember that low mintage does NOT equal key date coin.

Ex.- 1950-D Jefferson Nickel has the lowest mintage, 1939-D is the key date.

1931-S Lincoln Cent - low mintage, 1914-D is the key date.

The list goes on and on. Something else to remember, just because the mintage is low, that doesn't mean that a coin is valuable or desirable. None of the satin finish coins will ever be a key date, nor scarce. There are just too many of them available in high grades.

 

I think we are both correct. You more than I. I'm almost sure the mint used to say they got extra care in all the ads but that was many years ago. I was just lost in the past.

 

Another question we should all have is how is it that HSN broke the news that the Mint will no longer produce satin finish coins. Where I come from, that's called acting on inside information, which gives HSN an unfair advantage in the market. We should have all been notified at the same time by the Mint.

 

Point well taken, however, the satins are all low mintage by modern and 20th century standards. Since they are made with close to the care taken with matte proofs, they are mostly high grade, so grade rarity will be less of a factor than mintage rarity and I like good old fashioned mintage rarity. By anyone's standard, the 2008-P&D satin finish Lincoln with a mintage of roughly 750,000 is a rare Lincoln. But, as you state, that doesn't guarantee profitability, only potential profitability, as time will tell.

 

So, has anyone heard anything official from the mint on the OP question? I had somebody call me last night and say they heard that on the HSN show as well. Asking me if its true. I can not find anything anywhere confirming the statement.