Should the mint use the 1964 Morgan and Peace dollar hubs and dies?

Discussion in 'US Coins Forum' started by calcol, Aug 31, 2016.

  1. calcol

    calcol Supporter! Supporter

    In the 1800s and 1900s, if U.S. coins were struck with dies made in a past year or perhaps from new dies made from a hub which was made in a past year, those coins are quite collectible today. In fact some, like 1804 dollars are extremely expensive coins.

    What would be the situation if that were done today, especially if few if any of the coins exist today? Specifically, I'm thinking of the 1964 Morgan and Peace dollars. Hubs and dies for these coins were recently discovered in a mint vault. No 1964 Morgans were supposedly struck. A great many 1964 Peace dollars were struck, and supposedly none were released. However, there are persistent rumors that a few escaped the mint.

    The mint could use these hubs and dies to produce a few thousand or tens of thousands of coins for collectors and then destroy the hubs and dies. The mint could even use silver melted from lower denomination 1964 coins as the metal source. The Peace dollars could be viewed as bona fide restrikes because 1964 Peace dollars were actually struck. The Morgans would be in a different category. In some respects, they would be like the made-to-order patterns of the 19th century, but not entirely, because the designs, hubs and dies weren't made with collectors in mind (as far as is known). However, their production now would be to generate income from collectors, and not for circulation. No doubt, the mint could make a huge pile of money by using these hubs and dies to produce coins for collectors. Should they do it?

    Cal
     
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  3. longnine009

    longnine009 Darwin has to eat too. Supporter

    They could strike them in quanity and squeeze collectors until grease oozes from their bones--they'll pay it.
     
    calcol and green18 like this.
  4. dcarr

    dcarr Mint-Master

    For the Mint to produce such coins and sell them to the public, it would require Congressional legislation (which could be arranged, although usually via a convoluted process).

    I would propose that the Mint hire me to help them use those dies they found to strike over existing Morgan and Peace Dollars. That scenario might not require Congressional approval because they would be striking over coins of the same design that were already issued, instead of striking new coins.
     
  5. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    That would be circumventing the political process that puts pork on the plates of a storied few..........
     
    dwhiz likes this.
  6. rickmp

    rickmp Frequently flatulent.

    And how do you plan to explain your plan to Daniel Carr? Isn't he the only person that can legally do that?
     
  7. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    I don't think Dan is schizophrenic........
     
    Cascade likes this.
  8. dcarr

    dcarr Mint-Master

    :wacky:

    Correct, I am not "schizophrenic" (as far as I know ;) ).
    But I am the one who has the most experience striking over Morgan and Peace Dollars.
     
    dwhiz, talkcoin, Cascade and 3 others like this.
  9. calcol

    calcol Supporter! Supporter

    The 1964 Peace dollars were struck at the Denver mint in 1965. But aren't hubs usually created without mint marks, which are punched into dies later? So, the hubs plus a few letter punches could be used to create dies with a variety of mint marks. Right?

    Cal
     
  10. Markus1959

    Markus1959 Well-Known Member

    Just wondering, as this is just a fantasy situation and will never happen: would the strike overs put a dent into the common date Morgan/Peace dollar available population, and would collectors accept a strike over more than they would newly struck blank planchets?
    Always fun to wonder - it doesn't cost anything!
     
  11. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Heck, there's more than enough 'junk' Morgans out there so as not to deplete the general population. :)
     
    Markus1959 likes this.
  12. Markus1959

    Markus1959 Well-Known Member

    Yeah - never thought of that
    Can they "restrike" culls or worn coins?
     
  13. keemao

    keemao Well-Known Member

    I think the mint should strike silver medals with the old coin designs of the past. No denomination like the new medals that went on sale last week. I think that would be a cool thing to do. No gold, just silver. Do all the experimental designs and actual monetarily produced ones. It would make an awesome collection and could not be spent and used as real money
     
    dwhiz likes this.
  14. Cascade

    Cascade CAC Variety Nerd

    It would be like a super Dan Carr issue. A collaboration of the Moonlight Mint & the US Mint. The implications are glorious and the resulting product would be the fastest sellout in US Mint history. You can count on it!
     
    Coinlover67 and talkcoin like this.
  15. Cascade

    Cascade CAC Variety Nerd

    That's what Dan does. Do you think he uses better or high grade pieces as planchet? As long as its not damaged or too worn he'll use it ;)
     
  16. calcol

    calcol Supporter! Supporter

    For the new coins to be the correct weight, MS or AU coins would have to be used as planchets. There might be worries though about the quality of old silver dollars as planchets. I imagine the mint production folks would feel a whole lot more comfortable with new planchets where they had some say in composition, production and quality assurance.

    Cal
     
  17. Cascade

    Cascade CAC Variety Nerd

    Why? There are already plenty of private mints that do that
     
  18. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

    Who the devil needs to be 'correct'? These are fantasy pieces........:)
     
  19. Markus1959

    Markus1959 Well-Known Member

    Faster than the Gold Merc - which the buyers are STILL trying to unload! I see the gold Walker is gonna be available on Sept 8th - let the dealers buy it out and have it join their non-selling Merc inventory!! No price or mintage figures I know of!!
     
  20. Cascade

    Cascade CAC Variety Nerd

    So fast you would need the connection speed of a high-frequency trader in East Manhattan ;)
     
  21. rickmp

    rickmp Frequently flatulent.

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