The Numismatic Bibliomania Society

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V16 2013 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 16, Number 13, March 31, 2013, Article 17

MINT ENDORSES PRIVATE COINAGE WITH ITS SURPLUS DIES

Dick Johnson submitted this late-breaking news from the U.S. Mint. Interesting! -Editor

The U.S. Mint announced today that it will begin selling slightly used, still serviceable coin dies for sale to the public. It is a plan to greatly increase the public awareness of American coins while still adding to the sale of numismatic items from the U.S. Mint. In effect it endorses a private coinage.

The provision calls for a schedule of cent dies for sale at $1,000 each ranging up to $10,000 for dollar dies. Only one side will be allowed to be sold to one person. The buyer may be able to take that die to a private mint and have a companion die made with images, and inscriptions of his own choice, creating a truly democratic, semi-private American coinage

Further -- and this is important if the person plans to circulate the new coins-- it must put the full amount of metal composition's value into the struck coin as its face value. Profit making on these coins, called seignorage, will not be allowed under the Obama administration.

It is estimated the cents and nickels will be smaller than they are now because of the their alloy costs., However quarters and half dollars will be much larger if struck in the same alloy.

Mint spokesman Larry Franklin stated that the Mint will take great pains not to sell an obverse and a reverse of the same denomination to separate people in the same state, as the possibility of them joining forces with their dies and striking a coin much like one from the Mint. This would continue to remain illegal, he stated.

Oh, wait isn't Monday April 1st?

Archives International Auctions, Part XIV

Auction Update - Archives International Live
Save the Date
Tuesday, April 16th, 2013

in Fort Lee, New Jersey
ARCHIVES INTERNATIONAL AUCTIONS, PART XIV

India One Pupee note

Rare U.S. & Worldwide Banknotes, Scripophily and Security Printing Ephemera Including Additional Selections from the Hamtramck Collection, another offering from the American Bank Note Commemoratives Inventory as well as Properties of Banknotes, Coins and Scripophily from various consignors.

Tuesday, April 16th, 2013 in Fort Lee, New Jersey

Included will be over 1000 lots of Rare Worldwide Banknotes, Coins and Scripophily. Please view our website for auction updates

1580 Lemoine Avenue, Suite #7
Fort Lee, NJ 07024
Phone: 201-944-4800
Email: info@archivesinternational.com
WWW.ARCHIVESINTERNATIONAL.COM



Wayne Homren, Editor

Google
 
NBS (coinbooks.org) Web

The Numismatic Bibliomania Society is a non-profit organization promoting numismatic literature. See our web site at coinbooks.org.

To submit items for publication in The E-Sylum, write to the Editor at this address: whomren@gmail.com

To subscribe go to: https://my.binhost.com/lists/listinfo/esylum

PREV ARTICLE       NEXT ARTICLE       FULL ISSUE       PREV FULL ISSUE      

V16 2013 INDEX       E-SYLUM ARCHIVE

Copyright © 1998 - 2012 The Numismatic Bibliomania Society (NBS)
All Rights Reserved.

NBS Home Page
Contact the NBS webmaster
coin