From the May 11th Numismatic E-Newsletter: Have you ever found an error coin when looking through your change?

Many years ago, back in July 1982, my family and I had just gotten back to Philadelphia, from a trip to Italy, and decided to eat at local Burger King near our home. In change, I received three quarters and a penny — a 1972 P.
Upon examining the penny, the date appeared to be doubled, even with the naked eye. Being an error and variety collector, I knew that there are several obverse doubled-die varieties for the 1972 “P” Lincoln cent. So, when I got home, I verified my suspicions that I truly had a 1972 doubled-die Lincoln cent of obverse die #1 (DDO-1), condition of AU 50, at the time having a value of approximately $175. It goes to show you, you never know what you find in change.
What a great way to end a vacation.
Mike Brister
Philadelphia, Pa.

I have only found minor errors in change: die cracks, chips, cud breaks and very rarely a die clash. If the condition is good enough I’ll keep them, but I have never found anything very exciting, error wise, in change — no extra leaf Wisconsin quarters or banana stickers under the serial numbers of my $20 bills.
Be that as it may, I must share that being in the minting industry (in the private sector) for 25-ish years, I have found the best source for finding error coins are used coin presses. Used coining presses are treasure troves of numismatic anomalies, especially if they have an overseas pedigree. Since I had the job of preparing used presses for use, I got the opportunity to dig through the oil sumps and every internal nook and cranny of these machines. I have a saying that if you leave a space just big enough for a coin blank or coin to escape to, one will find its way there, and they do. When the mints dispose or sell their used equipment, they go through them and remove any blanks or coins they see. But they don’t bother taking all the covers off and cleaning out the internal workings of the equipment, which are where these items are typically found.
Just a short list of items I have found include coined quarter strip webbing coined with Mississippi state quarter dies; coined finger fragments with dime and other state quarter designs; I built a full set of U.S. coin blanks (1 cent-“Golden” dollar); a multi-struck German 2 pfennig; a beautiful off-center strike (baseball cap style) of a 1 Senti from Lesotho (how many error coins are known from Lesotho?); Indian 1 rupee blanks with the security edge groove already applied; matching Hong Kong scalloped 10-cent coins and blanks; casino tokens; enough change to buy donuts for my crew once; and so much more (including tools). Refurbishing old coin presses is a dirty job, but the thrill of the chance of finding unknown treasures sure made it a lot of fun.
Sean Moffatt
Couer d’Alene, Idaho

I checked it, and found a good-size cud (I guess the start and end points were around 70 degrees apart) and three small clips. I misplaced the coin before I could get it safely into my collection and have not seen it since. Perhaps it is still out there, waiting for another collector to stumble upon it.
Walter Fortner
Milwaukie, Ore.

Yes, I have found several error coins, blank cent planchet, clipped coin on cent, double clip on a dime, offset on a cent, a 1983 doubled-die reverse Lincoln cent, 1984 doubled-die obverse Lincoln, shattered die obverse die crack on a dime. These are some of the coins I remember.
Jim Bassett
Yorkville, Ill.

I’ve found two or three. The best is a 1967 cent that had multiple doubling all over the obverse, as well as the clothing area of the Lincoln bust imprinting through to the reverse to a degree. Whenever I get around to it, I’ll have it professionally looked at. I’ve found several that have the basic blemishes, if you will, that don’t have any dollar worth or that there really isn’t a collector market for at this point in time.
Bryan New
Columbia, Ky.

I have found numerous errors in my change though the years, some broadstrikes and only one 1995 doubled-die obverse in AU-50-AU-52 shape. I have been going through my older coins and finding a few doubled dies in the early 1960s proof and mint sets. But the hunt goes on.
Al Montana
East Longmeadow, Mass.

Yes, especially the BIE Lincoln cents
Joe Powers
Midland, Mich.

Do not know if it is a mistake, although I have never seen a coin like it. I have some 2005 nickels, “Ocean in View” obverse, and buffalo obverse, with a strong copper tone, not the usual nickel tone.
William Lambertson
Ephrata, Pa.

I have several error coins. I lived in Jacksonville, Fla., when the Washington dollar was released, and it happens that is where all the plain-edge dollars came. I got 40 of them from five rolls. I sold fivefor $300 each the first day, and they were down to $100 in three days, as the market was flooded. Of the ones I have left, I had nine graded at NGC, three of those have a star burst on the obverse — small, squiggly lines emanating from Washington to the edge of the coin — and on the reverse, the spikes of the crown on the Statue of Liberty are somewhat doubled, with a ghostlike set of spikes etched into the area above the spikes. I put on the slip to NGC that I wanted to have this made note of. I apparently was supposed to send these in separately and pay more for error coins, which I was unaware of, so they came back just graded. I have 13 more of them, and several have this same type error to varying degrees; some just have it on one side. I am curious if this has been a recognized error by Wexler or the other group (starts with a “C,” cannot recall the name). I also have some other errors, lots of misstruck pennies.
Randy Dull
Nokomis, Fla.

My son was closing out the cash drawer at his work and noticed that a quarter appeared unusual. He brought it home to me for examination and this is what he had found:
OBV: Possible 1993P Washington Quarter struck on a possible US 5 cent planchet, not reeded on edge, smooth, coppered colored; weight: 5.1 grams; width: 22.5 mm; shape is slightly oblong with the rim partially covering the date, legends and motto; date/legend/motto are very weak.
REV: Eagle expanded; left wing not fully present; no details on head, chest is bare, no details on leaves, etc.
Rodney A. Morison
Fredericksburg, Va.

Yes, I have found several coins. The best was a 1983 doubled-die reverse cent. (XF/AU) I’ve also found a 75 percent overstrike cent with a blank. I also have a few off-center strikes. I have about a half a dozen wide AM cents. Many misaligned dies. I check all of my pocket change every day. It is well worth the time.
R. Miller
York, Pa.

Yes, I’ve found a Canadian dime at my family’s pharmacy in the early 1960s. The obverse is off-centered, thin border on one side, thick on the other. I was told it had a value of $7 to $8 10 years ago.
At the same time period, I had also pulled out a Standing Liberty quarter, since they were disappearing. It turned out to be a 1927-S. What a pair of finds. Can any other readers top these two finds?
Gary Kess
Escalon, Calif.

Yes, over the years I have found several in change. All of them have been cents, and most are die breaks. It is fun to find such.
Griff Carnes
Kerrville, Texas

I once found a blank planchet cent.
Ginger Rapsus
Chicago, Ill.

A few years ago, while searching through rolls of quarter dollars, I came across a 1971-P Washington quarter that appeared to be a doubled-die reverse.
I had just purchased the book on “The Best of the Washington Quarter Double Die Varieties,” and after checking I found this exact coin on pages 171 & 172. I sent the coin in to ANACS to have it graded, and it came back in EF-45 condition giving it a value $850, according to the book. According to the book, this coin is considered not just rare but “Extremely Rare.” Ever since then, I have found dozens of other coin varieties while searching bank rolls.
Dennis Ringler
Address withheld

Years ago, very young, seeing “funny mint marks” on war nickels. I had seen very noticeable doubled-die coins over the years, a few blank planchets or coins missing most of an obverse or reverse. My pre-numismatically aware thoughts related to my general, lifelong thoughts of global decay: They can’t even make money right.
Going through my change jar last month, sorting and rolling coins, found two doubled-die cents. Still sitting on my work desk — coins and painting area — ’82, ’83, can’t remember; don’t really care. Know not to roll them for deposit. Not personally an error fan; I need to staple them into flips and toss ’em into the U.S. under-$100 value cigar box.
I keep my coins in collected, dovetail-joined, beautifully labeled, vintage wooden cigar boxes, in a hidden, built-in, fireproof safe. Gold and high-value rarities in one; bullion and accumulated silver obsolete rolls in one; one each for nicer world and U.S. pieces ($100-$300 value); then one each for just stuff I like in similar categories. I mainly accumulate silver coins; they don’t even go into the safe. Other varied, interesting, low-value pieces in a binder of flip-holding pages. I have additional boxes for select mint products and bank notes. In general, I have the most “fun” with the modest pieces. The past couple years I’ve been avidly collecting mid-19th to early 20th century copper and bronze world coins chosen on design, history, geography and quality alone — some beautiful, low-cost pieces, some quite rare — growing into a beautiful collection. But, as many numismatic enthusiasts, ever plotting my more substantive acquisitions, my rule is when any category overflows its box, it is time to inventory and sell some pieces, reinvesting the returns on a nicer piece. Something about a cigar box that I know is mostly silver filled, weighing well more than a kilo — to me that is sort of cool!! Like any smarter collector, few know the actual extent of my holdings.
In my 50s, happily single, with no heirs, what will I ever do with all this stuff? Perhaps sell most of it in a decade or so and take a nice trip somewhere, maybe buy an odd vintage car and go on a crazy road trip. It, for me, has been a fun, interesting, personally enriching hobby. It is one I got serious about when I got sober many years ago, far more reasonable and healthy going on a “coin bender” than the other type (for me, anyway). I feel far more productive in my time spent in my pursuits than many of my associates watching “Dancing With the Stars,” “American Idol” the NFL, NBA, etc. My friends make fun of me for my corny interest. I’ve learned to contain my enthusiasm for my acquisition of treasures and be more creative about my gift giving than coins. I have given some far too rare and beautiful things to unappreciative, unknowing recipients. But I have a nice, very liquid “portfolio” in addition to my traditional investments.
Name withheld

From the April 27 e-newsletter: Did the Mint learn its lesson by deciding to mint to demand for the San Francisco Mint set?

The five-coin 25th Anniversary Sets in 2011 had a five-set limit and a maximum of 100,000 set production.
Sell-out was in about two days with horrendous difficulties in placing an order.
What are the limits of this 2012 sets?
Rich Greer
Columbia, Md.

Editor’s note: There are no limits. The Mint will strike as many sets as are ordered in the 28-day period June 7 to July 5.

I am not sure it was a lesson learned after the 100,000 limit on the 25th anniversary set, but rather an offering of appeasement and great marketing.
When I got one the early 2009 High Relief Double Eagles I thought the Mint would keep it to a lower number. The number grew with time, but was not that great. A lot less than the 2011 five-coin American Eagle silver anniversary set of 100,000. I like the coin and its value.
So those who did not get the American Eagle Silver Anniversary Set can feel better when they get this one. The interesting point will be what total mintage is reached. No matter what level, someone will be somehow disappointed. Looking forward to the fall and final results on this one.
An aside Dave: A la your experiences reported from the Crystal Cafe, my local lunch emporium served up a 1964 AU Washington quarter two weeks ago and a nice ‘60s $10 bill in February. Someone is cleaning out drawers it would seem.
Ron Walling
Ottawa, Ill.

Editor’s note: The Mint will not call the new S-mint two-coin American Eagle set an anniversary set, it has announced.

There is still room for improvement. Why set a start date? Why don’t they take orders from time of announcement of the product? I’d like to buy now, at the current price of silver.
Still, this is a big improvement. I like the idea of the “sales odometer.” I hope the price is reasonable. It should be close to the price of two proof silver Eagles. At $59.95 the proof silver Eagle is expensive. Will the two-coin set cost more than $120? Now I am hoping for a Denver Mint silver Eagle.
Donald Cantrell

Yes, make all of them steel composition. One thing though, the U.S. Mint should make the original composition coins in the proof and uncirculated sets to at least maintain for the collectors. The collectors have been supporting the cost through the years with the higher cost for their purchases directly from the Mint.
Kevin Reinhard
Millbrae, Calif.
The composition on all coins needs to be reviewed and updated to reduce costs.
Most people could not tell you what the coins are made out of nor do they care what they are made of.
Continuing to produce coins that cost more than face value is completely stupid.
Chris McAlonis
Berea, Ohio

I suppose so, if it covers the cost of the losses from the cent and nickel.
George Starkey
Folsom Calif.

I think that dimes and quarters have to be changed to a cheaper and more affordable composition. They are necessary coins, in my opinion.
Alex Helzel
Greensburg, Pa.

Having saved a few of the original 1943 cents, it’s obvious that the zinc coating is quite unstable after a very few years, either oxidizing to reveal an ugly white residue or the steel base rusting out and erupting through the zinc surface coating or both.
As with copper and its war with verdigris, the disintegration usually results in obliteration of the legends, emblems and dates, not to mention the obverse and reverse overall design.
Is the use of nickel totally inefficient or uneconomical? The Canadian coinage seems to have held up over the years. It seems to have survived the environmental forces of disintegration, except for the cent, which has had same problems as we have with the copper element. Will nickel alloy with aluminum? Would manganese be out of the question? Would the alloying of manganese with nickel be cost-prohibitive?
Manganese turns dark it appears. If they could prevent steel from self-destructing, perhaps that is the answer. Stainless steel?
Kenyon Miers
Esperance, N.Y.

Don’t change the metal in these coins. I know the cents and nickels will be changing soon or be gone forever. The cost of these two coins don’t warrant the change of composition, yet.
Bobby Bange St.
Simons Island, Ga.

No, the 1943 cent was prone to rusting. Why wouldn’t the new ones?
Phil Moulder
Wetumpka, Ala.

No, the government should just stop inflating our money. They should be ashamed of themselves for robbing from the citizens in such a cowardly fashion, spending money they don’t have to (in most cases) get themselves re-elected.
Steve Barney
Ottawa, Ohio

I would prefer a steel cent over no cent coins, but what is more troubling is the idea of melting down circulating coins for a $2 billion profit for the Mint. That means current coinage will start to have a value and circulated collections for kids and beginners will be a memory of the past.
Any more good ideas that they can do to stop collectors, like end the Presidential coins and make the National Park quarters non-existent. I have yet to see one in my change!
Alan Hepler
Laytonsville, Md.

The steel pennies with the zinc plating didn’t work so well. I think the coins should be made out of stainless steel so they won’t rust or corrode.
Jerry Stuart
Keller, Texas

Quarter & dime should not be changed to steel composition. There are other ways for the government to save money.
Paula Kerbo
Address withheld

The savings from changing the composition of the dime and quarter would be chickenfeed. It would help if the commemorative reverses on the quarters were dropped.
For big savings, the government must force the circulation of dollar coins by stopping the printing and circulation of dollar bills. The $5 bill should probably also be replaced with a coin, not large, but distinctive in shape, perhaps seven-sided like the UK 50 pence piece.
Peter Gaspar
St. Louis, Mo.

I am still undecided about possible changes to the composition of U. S. coins. I feel I don’t have enough information. The burden of proof falls mainly on the proposed changes, though, as I know what we have with the current composition. My questions are:
How would any change affect the mint? Would the mint have to overhaul existing presses or install new one to handle the change? How would it affect die life? How much of the coin’s “cost” is the cost of raw materials?
How would a change affect the appearance of our coins? The 1943 cent had problems with corrosion. The copper plated pennies we now have can get ugly quickly if the surface is damaged. Would steel quarters look as good ion forty years as 1970s dated quarters do now? I haven’t seen any Canadian coins in decades, so I have no feel about how their changed composition is faring.
What about the de facto tax on vending machine operators and owners? It will cost a lot to retool them to accept coins with a different metallic signature, and complicate the process to avoiding non-U. S. coins. In this regard, we do have the experience from Canada’s conversion, and from the 1960s changeover to clad coins. Would a cheaper composition also make it cheaper to produce counterfeit coins or slugs?
I am reminded of an incident a few years ago when I was working with several others on a contract project at a local store. The manager offered to buy us all sodas, and gave each of us change for the vending machine. Several people complained that the machine wouldn’t accept the dimes. I checked my coins and discovered the problem. After a brief discussion, I purchased the offending coins and left with a pocketful of Mercury and silver Roosevelt dimes that the modern machines could not handle. I’m thinking that the current clad coins will remain in circulation much longer after the changeover than silver coins did.
Walter Fortner
Milwaukie, Ore.

The government just needs to get rid of the cent. If they change composition, all copper based cents will be kept by Americans, and billions of new composition cents would have to be made. This is bad economics. Unfortunately our congress can’t solve any problems now due to politics. How sad congress is!!!!!!!!!!
J. Marasia
Destin, Fla.

Make all of our coins from steel.
Might as well re-design entire range, 1 cent to $2, like the euro coinage system. Take people off and go back to symbolic figure of Liberty
Chris Budesa
West Orange, N.J.

See nothing wrong with steel coinage. It seems to work for other countries…should work for the U.S. too if the right presses are used.
Ralph Campbell
Address witheld

No, dimes and quarter metal make up should not be changed.
Dick Ammen
Address withheld

It would make more sense to make the current dime size value 25 cents, and the quarter size value 50 cents. And circulate the $1 coin. And don’t worry about rounding. Pricing adjustment will soon eliminate that problem. What can you buy for less than 25 cents? We need sensible coinage now. Storing coins in warehouses makes no sense. Get them out into commerce.
Donald Cantrell
Address withheld

No. I think the government should keep the coins the composition that they are and stop playing around with the figures.
Philip Jones
Address withheld

My recommendation would be to change the dimes and quarters to .900
silver. A dime from my birth year is currently worth around $2.20, in
any condition, just for the silver. What can one do with a dime, or a
quarter for that matter, these days. It seems to me that these coins
have become worthless, so, why not just do away with them? While we are
on the subject, why don’t we make some fancy bi-, or tri-metal $5, 10
and 20. It would probably be cheaper than banknotes, in the long run.
R. A. Blanning
Address withheld

No the sky is not falling. Our economy may be desperate, but it is certainly not destitute. So in the long run, all these proposed coin composition changes might cost us more to fully implement then they’re really worth. Our whole money system has been based on the ideals of confidence and trust. And closely regulated and depended on this trust is the distribution of tens of thousands of various types of coin-operated machines that play a major role in the distribution of its products by accepting dimes and quarters. Changes of this magnitude have to take into consideration how it will affect the economy of this market as well. It’s not just about how inexpensive we can make our money; consistency is also an important ingredient if we are to maintain a secure future monetarily. So no, I feel the dimes and quarters should not be changed to a steel composition just to save money.
Mercury R Williams
Seattle, Wash.

You know, the Mint has been getting some bad press lately because of the President dollars and other things. So, I feel the sales of Eagles will drop this year due to the annoyance with the Mint.
The Mint has shown its colors. It is greedy– and we, the not so rich collectors, are either having to pay the piper or quit collecting.
John Davidson
Walla Walla, Wash.

I really don’t think so. I am an avid collector and everybody was saying silver would hit $50 by last December. I tried to tell people it wouldn’t, and they don’t listen to a nobody. So no, I don’t think you will see a lot of silver Eagles sell in 2012.
Phillip Webb
Niagara Falls, N.Y.

I would bet that the collectors will buy less. Most of us are dissatisfied with the Mint giving the little guy the cold shoulder on coin purchases, letting the graders have first choice and cherry picking the silver dollars.
To me this is typical government work as I don’t think they can do anything correct and make a go of a business.
George Conner
Rogersville, Mo.

I think that both the 2012 proof and uncirculated silver Eagle sales will increase due to the silver spot predictions. That kind of thing tends to get people excited.
Alex Helzel
Greensburg, Pa.

My guess is that silver Eagle proof sales quantities will only equal and not surpass the 2011 sales total. The design of these coins is classic and beautiful in detail, however the cost of these coins will make many collectors scale back order quantities from previous years. The lack of appreciation in value over time, versus cost, will also be a factor in sales volume.
R. McKenna
Belleville, Mich.

Fewer proof and uncirculated silver Eagles will be sold in 2012 than in 2011. Demand for silver is down due to the choppy bullion market. Speculators are moving into other investment areas. The only way that more silver Eagles will be sold this year is if demand for silver suddenly picks up and the bull market resumes.
Bruce Frohman
Modesto Calif.

The collectors will purchase a few examples to put into their collections. I think we are beginning to see a flat line when it comes to speculators.
The fundamental issue is and will continue to be the state of the economy and the general malaise of society in general, which will have people continuing to gravitate to precious bullion metals as a medium of exchange.
James Adams
Address withheld

I can only speak for myself. With the economy the way it is, and the price of the Mint products increasing, I am purchasing fewer proof Eagles this year than I did last year.
Larry Violett
Lodi, Calif.

I plan to purchase more in 2012 than I did in 2011.
Charles Kook
Salem, Ore.

With a close look into the Florida numismatists crystal ball, that is a crystal or glass ball believed by some numismatic people to aid in the performance of clairvoyance, I came up with in my opinion at this time: yes, why not?
Chuck Schroeder St.
Petersburg, Fla.

No I do not you think collectors will buy more proof silver Eagles in 2012 than was bought in 2011. The reason being is that the silver proof coin market is becoming extremely competitive and is becoming more global with various types of rare silver proof being offered by other mints outside of the U.S. And Especially in view of the value of silver verses the mark up price, I think collectors are going to be looking more on a mintages base purchase first before considering investing in the 2012 proof silver Eagles. A lot of their purchases will depend on future premium return possibilities. I think collectors are becoming more investment minded as oppose to the just got to have it mentality.
Mercury R Williams
Seattle, Wash.

I have been a Numismatist for over 50 years, and purchased almost all of the my collection from the U.S. Mint, with the exception of my Dansco United States Type set, which is now competed with all 76 coins, ranging from a 1801 Draped Bust Half Cent to 2010 uncirculated Silver American Eagle. All 76 coins are range from a Fine (F-12) to an MS 69.
I will continue to purchase most of my coins from the U.S. Mint; even though I think the U.S. Mint is out of touch with the Numismatic world.
I have been purchasing (three) Proof Silver Eagles and (two) uncirculated Silver Eagles for many years, and will continue to do so. However, I’m not sure most Numismatists will continue to purchase Silver Eagles in large quantities; therefore, I don’t foresee an increase in the purchasing of U.S. Mint’s Silver Eagles!
Larry W. Young
Tyrone, Ga.

There might be about the same number of buyers for the 2012 Silver Eagles as were yesteryear. Those hardcore collectors of these rounds, like all good collectors, seem to come up with whatever amount of money for the NCLT Round the Mint asks, whether they can afford it or not. As for me, I simply can’t afford it, even though I have a few “earlier” ones from the turn of this last century. Should the price–including S & H–come down (which I doubt) to around $10.00, then I might consider re-investing in the Eagle market. Until then, I’ll just satisfy myself with hunting Eagles at Garage/Yard sales. You never know?
Bill Tuttle,
Cleveland, Ohio

Yes I think there will be a lot more 2012 proofs sold this year.
Hank Jackson
Carthage, Miss.

I don’t think that proof eagles will out sell the unc. ones. The price difference may deter some novice collectors of silver at present and higher levels. Perhaps a half ounce size in the eagles can help promote sales as well as affordability.
Gary Kess
Escalon, Calif.

I like to buy a couple of proof Sil. Eagles every year. I like special editions as long as they are not a common occasion. I doubt there will another special edition this year. I will buy a 2012 S mint unc. sil. Eagle if available. A special set with a silver dime would be nice for the 50th anniv. of the March of Dimes.
Donald Cantrell
Address withheld

Dont’ really know. Appears in redbook proofs are worth more than MS coins but it appears when they sell them for bullion
the proof coin are getting no more than MS coins. This is shown by companies that buy coins for melting.
John Vercauteren
Address withheld

Sales totals for the proof silver eagles should be equal or slightly higher for 2012 vs 2011, after all the hoopla with the 25th anniversary set!, people just want more! and when you purchase a proof silver eagle you not only get a very fine coin you get a nice chunk of bullion, and to keep your proof eagle set current you got to have one or maybe two, I myself already have my two and am thinking about a few more, so if people follow my lead then yes sales totals should be higher! and if your looking at bullion it don’t get know better than proof eagles
Michael P. Schmeyer
Halsey valley, N.Y.

From the April 6th Numismatic News E-Newsletter: Will 2012 be the year of the collector coin and not bullion? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

What a funny topic. I have a lot of silver coins and bullion, but with limited space in safe deposit boxes I decided to start buying high grade silver dollars. If it is a key date I will buy it graded or not. I started this last December. For now I prefer quality over quantity.
Michael Herndon
Gulfport, Miss.

I’ll refer to Yogi Berra, “Predicting things is hard especially when it’s about the future.”
Lionel Ducote
Address withheld

Unfortunately, I think the bullion mania is here to stay for a while. It’s the new breed of coin collectors. Much like reel-to-reel became eight tracks which became cassette tapes and then CDs which in turn became iPods, etc. We better get used to it. We’re a dying breed. There’s a new kid in town.
Mercury R. Williams
Seattle, Wash.

Here’s why I feel that 2012 be the year of the collector coin and not bullion. I think the coming year may prove to be a strong one for numismatic coins, especially if the economy continues to recover.
Bullion has dominated the coin market to such an extent in the past year that it has been crowding out the collectible coin market apart from the very high end sector of extremely rare coins. Many coin buyers had to curtail their purchases because of financial problems during the three years since the 2008 financial crisis. That has resulted in some good buying opportunities to acquire coins that others were forced to liquidate.
I suspect that trend will abate in the coming year, depending on overall economic conditions. I think many dealers and collectors are ready for a break from the almost constant focus on precious metals. They want to get back to numismatic coins like classic commemoratives and type coins, and this shift, if it occurs, should help drive prices higher.
All in all, 2012 promises to be an interesting year for numismatists and coin investors. If bullion resumes its bull run, collectors will have tough decisions to make about which coins they can afford to acquire, and they will worry about losing money if bullion crashes.
Chuck Schroeder
St. Petersburg, Fla.

At this point in time, I cannot afford buying the “investor rounds” (noncirculated, legal-tender bullion coins).
I can hardly afford the collector coins, but if one or two show up in circulation, which the non-circulating legal tender rounds don’t do, I will cull it out of circulation and add it to my collection. I feel the average collector with a medium income will be looking more at the more affordable collector coin than the investment round this year.
Bill Tuttle
Cleveland, Ohio

For some reason I’ve put down collecting bullion and have aggressively started to expand my collection into a post modern MS or Proof-69 or better slab coins. The collecting bug to have every coin from 1955 to date is my quest. I plan on using this collection to pay for my 6-year-old’s college education. Wish me luck.
John Agnello
Hawthorne, N.J.

Affordability! This the key word for collecting.
For beginners, walk the bourse floor first making notes. Leave the floor for a view of your notes, then proceed back to the floor to acquire your main interest area. Remember to stay within your budget. Rome wasn’t built in a day, your collection should follow in like manner.
Gary Kess
Escalon, Calif.

Every year is the Year of the Collector for me. Bullion is a side show. However, I do collect bullion coins,and enjoy it very much. I thought it was the year of the Mayan Calender. Ha. Where’s that Commemorative? Check out the Mexico 20 peso gold coin. It’s a neat coin,at close to bullion prices!
Donald Cantrell
Address withheld

I’ll refer to Yogi Berra, “Predicting things is hard especially when it’s about the future.”
Lionel Ducote
Address withheld

To me every year is the year of the collector coin I am a coin collector first and foremost.Yes it’s true I buy a few Silver Eagles every year and try to buy a gold piece here and there but 90% of my numismatic budget is spent trying to complete my sets with the key date coins I’m missing.I can’t state my opinion on this enough buying slabbed early release silver eagles is a waste of time and money!These are bullion coins and except for the few reverse proofs or special “S” mint collector coins, your 2012 early release silver eagles are worth whatever silver is worth at the time and the dealers buying them aren’t going to care if they came out of a monster box from San Francisco or West Point.Find a reputable local coin dealer and buy yourself some real collector coins with some real history that when you hold them you can dream back to days gone past and wonder where has this coin been who’s collections has it adorned previously.I’ve never seen a 1911-S Lincoln or a 1921 Mercury dime lose money their Red Book prices go up every year.I predicted last year at this time when others were predicting $2,000 gold and $60 silver prices,that gold and silver would hover right around where they are for a while and they have. Now I’m not saying don’t stash away some silver and gold for the next big upswing which I’m sure will happen again someday but don’t get too caught up in these Silver Eagles and other bullion coins buy some nice low mintage or high grade collector coins a 1945 Mercury dime slabbed MS66 FSB will not cost a lot to put in your collection today but may very well be worth quite a bit more 30 years from now and even more if you leave it to a grandchild or niece or nephew or put together a whole war years set like that from 1942 to 1945 P,D&S slabbed MS66 FSB and you may leave behind a legacy well those are just a few of my opinions on the subject good luck in your collecting endeavors wherever they take you.
David Tortorice
Buffalo N.Y

From the March 30th Numismatic News E-Newsletter: Should the cent be kept regardless of cost because it represents monetary stability? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

I’ll answer your question, about retaining the U.S. Cent as “a sign of monetary stability” with another question. Would you allow a faucet to run continually to prove you have access to clean drinking water?
In Australia, we recognized the same problem of production costs involved against actual trading value and we, sensibly dropped the manufacture of our bronze circulation coins decades ago. The habit of final rounding transaction totals to the nearest 5 cents has worked admirably.
The Royal Australian Mint still, occasionally, includes examples of our 1 and 2-cent bronze coins in their pretty commemorative packs. And we have even seen them produced in precious metals for special numismatic events.
Gone – but not altogether forgotten!
Graeme Petterwood, Vice President
Tasmanian Numismatist Society

In my humble opinion I think the cent has outlived its usefulness. I love collecting cents, but we have to face the reality that there’s just no sense keeping the cents (pun not intended). Rather than supporting monetary stability, I think it will improve it. Producing a useless coin that is worth much less than it costs to produce is economic insanity.
The U.S. should follow Canada’s lead in dropping the cent coin. We should have taken the lead by doing it first.
Terry McComb
Charlotte, N.C.

The penny is very important, but based on cost and that pennies are essentially worthless, they should stop being made. I also believe they are exported and melted. But make a 3-cent coin and that would be fine as that with the nickel provides tremendous change calculations.
Mark Pollachek
Springfield, N.J.

The cent should be kept in uncirculated and proof sets only. I have expressed this point before for one reason only, saving expenses all around.
Granted this low denomination is a bit of Americana like hot dogs and baseball. There is a time to put a cap on it, and it should be now. Shipping fees for the banks would be saved. Cashiers in all facets of retail won’t have to continually count them (round up or down to the nickel).
By better productivity up and down the chain, can’t we all stand to save a few dollars in the long run? This makes “cents” to me, how about my fellow readers?
Gary Kess
Escalon, Calif.

I’m thinking the penny has done its job. I know it’s an intersting thought to not have it. But I would just like to say how cool a gold or silver penny would be to honor it if it did go away. Same size so people can afford it in gold. Just a thought.
James Kimball
Wisconsin Rapids, Wis.

Once again, our neighbor to the north, Canada, trumps the United States. It announced that it would eliminate the Canadian penny coin in 2013 and round sales up or down accordingly. That after eliminating the paper $1 and $2 notes in favor of coins. Why can’t we do likewise? And how come they are always first with the ideas? Think it’s the beer, eh?
David Geist
Keller, Texas

I wouldn’t mind seeing the penny going because of the cost to produce it. I would like to see the U.S. Mint sell it to collecters at a fair price, offering it in two types – one type copper cent business and proof and one type cent in zinc, also a business strike and proof.
James D. Santeufemio Sr.

The cent has been around since the beginning of the Mint and it has been the basis for starting collectors. Those reasons alone seem to be enough reason the keep the cent. However, when the cost of minting the cent is well over its face value then something must be done. If the Mint cannot come up with a suitable substitute for the copper in the cent, then it is time for the cent to go. I can see no commercial reason for keeping the cent. I think that the time has come for the Mint (government) to get its head out of the sand, look around, and see just how bad off this country is. It is time they quit playing politics and get down to the business of bringing this country back to what it was during WWII. Once the country gets back to a stable monetary condition then it will be time to start thinking about these petty things that are not really important to the survival of the country. There are many more important things that need to be addressed than the survival of the lowly cent.
John T. Tinney
Volcano, Calif.

Here’s an idea. Reduce the cent down to the size of the dime and the dime up to the present diameter of the cent, or up to what it was in the early 19th century. Would it work? I don’t know. But it is an idea.
Bryan
New Columbia, Ky.

Should the cent be continued? Does it represent monetary stability?
Or, more telling, does its obsolescence indicate monetary instability?
The answer to the last question is a resounding “YES”! From the
minting of the first U.S. coins until 1913, there was no inflation.
Yes, there was variation in the relative value of gold and silver*,
but the purchasing power of our money actually rose. But, what passes
for money now, Federal Reserve Notes, are not only not Constitutional money, but they have no backing whatsoever. In other words, there is
nothing to prevent irresponsible or worse, thieving, government
officials from printing up (or changing bits in a computer, nowadays)
as much as they want, to directly benefit their friends. (And, circuitously, themselves.)
So, the value of a Federal Reserve Note is completely imaginary. A
prudent individual will spend them (pass them along to another sucker) as soon as possible.
I think the public is vaguely aware of this. Production of the 1 cent
coin has been continued for decades past its utility because the
powers that be, that benefit from the Federal Reserve System, fear the
cent’s discontinuation will be the first domino leading to the public’s rejection of Federal Reserve Notes.
As you can tell, I believe we should abide by the Constitution,
eliminate the Federal Reserve System, and return to real money. But,
in truth, it is too late for that. Innovation on the Internet is
already creating monetary alternatives which are truly international, non-political, and sound.
C. David Eagle
Corsicana, Texas

Yes, let’s keep the 1 cent.
Alan Loris
Address withheld

I do not feel we need a penny.
But I think it would be nice to make a program of the penny like the Silver Eagles some way. Maybe using past dates in groups.
John E. Davidson
Address withheld

Yes, but consider making it a 2-cent piece instead.
Ron Radice
Address withheld

I wouldn’t mind seeing the penny going because of the cost to produce it. I would like to see the U.S. Mint sell it to collecters at a fair price offering it in two types. One type copper cent business and proof and one type cent in zinc also a business strike and proof.
James D Santeufemio Sr.
Address withheld

We should ditch the cent. It costs more to make than it is worth. Nobody accuses Canada – which has just voted to ditch their cent – of being financially unstable.
Robert Leslie
Address withheld

If losing 1.5 times the amount it takes to produce your “monetary stability” How long before we lose so much money to “really “be stable?
Just one more reason the country is in the mess we are now. I mean here we have in black and white a money losing operation, at the rate of one and a half times its worth and there are discussions about what to do. What to do is you stop making pennies or you make them out of something that can be made for a penney or less. Is it really that hard to see? We use to be so much better than this. What has happened to this country?
Daniel Bassett
Address withheld

From the March 17th Numismatic News E-Newsletter: Have the Mint’s gold Buffalo and Eagle collector coins gotten too expensive? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

Most things in life have increased in price. The gold Buffalo and Eagles are just along for the ride. Their price is relative to the times. We hope when it’s time to sell there will be profit.
While we hold and look at these most beautiful coins, the good feeling we get is satisfying. Buy and keep them, enjoy possessing them. How many things bring happiness to your heart and mind nearly every time you see them?
John Lowey East Meadow, N.Y.

Some of the pricing is based on the purchased price of bullion at the time of purchase. This can make it seem a higher price. The Mint could possibly shave some percent off tits share or absorb “shipping & handling.” Some of these offerings are out of my reach as it is (limited income). Perhaps downsizing the offerings can include others of limited means.
Gary Kess Escalon, Calif.

The Mint is behaving like any normal desperate retailer – mediocre goods at ever higher prices.
I sneer in contempt at some of the falsely inflated after-market prices on contemporary mint products.
It is humorous to observe the grading services complicit nature in this falsehood of value.
Not so funny if you are a naive consumer falling for it.
I’ll spend my money on far more interesting, and rare, numismatic devices.
Numismatics has little to do with buying mass produced new crap from the factory.
Jane Arge Tacoma, Wash.

Yes! And once purchased, they may never retain that value.
Gerry Goss Billerica, Mass.

Yes, I think they have gotten out of hand. I have always wanted to buy one, but they are just to pricey for me.
Alex Helzel Greensburg, Pa.

Yes they are overpriced by the US Mint.
Edward Majzlik Dearborn, Mich.

Yes, they are a little over priced and the Buffalos and the platinum coins should come in fractional denominations like the proof Eagles. Not everyone can afford the 1 ounce coin especialy with the price of gold and platinum.So every year I buy the largest gold Eagle I can afford and don’t even really look at the Buffalo coins.
David Tortorice Buffalo, N.Y.

In 2006, I purchased five coins because I thought the gold Buffalo was so beautiful. I kept purchasing the coin until 2009 when the price started to go up and my business(auto repair) started going down. I now wait for the gold prices to go down checking the revised cost on the Mint site on Wednesdays.
I may skip 2012 unless the price drops near or below $1,000. Too bad the U.S. Mint doesn’t have a 10 or 15 percent “fire” sale just to get collectors like me to purchase the coin.
Kunio Narasaki Pleasant Hill, Calif.

The U.S. Mint has got to stop charging $300 to $350 per coin for the $50 gold Buffalo proof coins, because most collectors just can’t afford to invest $2,000 per coin with the way the gold market is today.
Larry W. Young Tyrone, Ga.

I know you are asking about gold collector coins, but are you aware the price of the 9-11 medal is $16 more than a proof commem? The Mint is making a lot of profit off the medal. It should lower the price or pay out more to the surcharge recipient. I wish I could afford a proof Buffalo.
Donald Cantrell Address withheld

I think they’re a bit to high. I do think they are the best coins produced today. I think they should be closer to market price. Just a little higher maybe, because they are proofs. Wish I had more of both.
Hank Jackson Address withheld

From the March 17th Numismatic News E-Newsletter: Do you consider a Hawaii quarter with extra islands to be a desireable collectible? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

I do consider it to be a desirable collectible, However I would not pay too much for one.
I think it is a cool coin, and I enjoy different varieties and errors like that. I am the manager of an online store, and we do mainly error and variety coins. I find any coins that are abnormal to be desirable.

Alex Helzel -  Greensburg, Pa.

Add me to the “never heard of it” category. I have no idea whether this is anything to get excited about.

Walter Fortner – Milwaukie, Ore.

Extra islands?
Sure, if it is a recognized variant or error. If it’s just a grease die problem, then perhaps not. I still think “In God We Rust” (Kansas) should have been recognized. But I am dubious about the Nevada “pooping horse.”

Sam Donovan – Address withheld

Hawaii with extra islands is great.

L.R. Rowe – Avoca, Iowa

The Hawaii state quarter (with islands) is a desired collectible only in the set. Of course, it is a desired single to others.
Another set for it to be in would be “island nations” collectibles as well! This, in my opinion, is still one of the more desireable coins of the set. The Wyoming quarter was just too plain.

Gary Kess – Escalon, Calif.

The fact that a Hawaii quarter turned up with extra islands just doesn’t do anything for me on my end. It may be because of my own stupidity of not knowing how many islands are supposed to be on the Hawaii quarter.
The fact that someone has found an extra dot on a Hawaii quarter to me is like finding out that we have only eight planets in our solar system instead of the old textbook nine. Pluto is no longer a considered a planet, which is unfortunate since it was one of the few that I could actually name.
I think what it all boils down to is that I was expecting to see only one island on the Hawaii quarter. I have no idea why they put those other islands there in the fist place.

Mercury R. Williams – Seattle, Wash.

Not anymore than the previous one produced in the first state quarter series.

Bryan New – Columbia, Ky.

Sure, why not? Seems very similar to the 2004D Wisconsin high/low extra leaf coins. That said, I have yet to see a good photograph of an extra-islands coin.

Greg Duncan – Address withheld

I was not even aware that the 2008 Hawaiian quarter had an extra island, but there are a lot of things that I’m not aware. So if they say it’s worth 1 cent more than face value, then yes, it’s a desirable collectible.
There are way too many coins out there with little problems to keep track of them all. I spend most of my time roll searching lincoln cents and reading numismatic news to worry about much else.

Michael P. Schmeyer – Halsey Valley, N.Y

From the March 9th Numismatic News E-Newsletter: Is a 350,000 mintage too low for a World War I commemorative dollar? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper.

Your estimate of 350,000 mintage all inclusive doesn’t sound too low in my opinion, in fact may be a little high. It should be enough for the maximum distribution of three or five silver dollar orders per family of our World War I veterans, for those interested in that war so long ago. May they rest in peace.
To many of the youths of this generation, The First World War is basically a subject and statistics for high school examinations now.
The commemoratives for the Second World War had close to 100,000 silver dollars distribution, and many veterans of that war were still around at the time of minting.There were nearly 200,000 clad half dollars distributed also, according to the red book.
The Korean War Memorial had over a 200,000 distribution of its silver dollar.
The Viet Nam War Memorial silver dollar had a distribution of a little over 57,200.

Kenyon Miers
Esperance, N.Y.

You have asked how many World Ward I commemorative medals should be minted. My answer is enough to fully satisfy collector demand. In light of the recent debacle caused by the ridiculous 100,000 limit on the 25th anniversary silver Eagle sets, the mint should eliminate production limits of collector offerings entirely.
In my view, order limits are anachronistic devices used by the mint for its own internal planning and production purposes and should have no adverse impact on collectors by creating instant rarities like the 25th Anniversary “S” mint and reverse proof Eagle coins.
Every Mint offering to collectors should provide a reasonable time window in which to purchase the coins. No collector should be denied the right to purchase during the announced time period. Thus, the rarity of any collector coin may be determined only after all collectors have had a reasonable opportunity to purchase the coin.
The limits now set by the Mint before production have no necessary relation to the number of coins ultimately sold. A prime example is the 35,000 coin limit placed on the 2011 5-ounce collectors coins, which will never be achieved. The Mint should be required to issue sufficient collector coins to satisfy collector demand without imposing numerical limits.
As a government monopoly, the United States Mint has a duty to treat all of its customers equally and fairly. In the case of the 25th anniversary Eagle sets, the Mint breached that duty by imposing a totally unrealistic quantity limit in order to provide a huge monetary windfall to favored coin dealers at the expense of ordinary collectors.

Don W. Crockett
Washington, D.C.

As a commemorative collector (not a dealer), I think 350,000 is actually a little high. Actual WWI veterans are scarce, so there will be little demand there. Only dedicated commemorative coin collectors will be the largest body of buyers, and most of them only require one.
I don’t feel the demand will be that great for this commemorative, but 350,000 will certainly ensure that the value of the coin will never increase, and the average collector, like me, will be able to get one at a reasonable price before the dealers buy them all up and charge exorbitant prices for them.

Charles Landess
Evensville, Tenn.

As we approach the 100th anniversary of the “War to End All Wars” the proposed mintage of 350,000 is too low. Millions of Peace dollars heralded the Great War during from 1921-1935. The lowest mintage of that series was more than the proposed commemorative.
The world can learn much from examining the First World War as we face the uncertain times of the present day. Anything that can help us learn from our history will only benefit generations to come. Increase the mintage to at least 500,000, if not a million.

Timothy Scharr
Aviston, Ill.

It’s time to put an end to set mintages for coins. Mint to order for a specified period of not less than 30 days, and place a five-coin (set) per household limit on each order (this limit could be lifted after two weeks if sales appear slow).
Let the open market establish the mintage. This should also eliminate the insanity of instant Internet sellouts in a matter of minutes that only serve to frustrate longtime customers of U.S. Mint products.

Ross MacCallum
Dumfries, Va.

Seeing again Congress is being asked to authorize another commemorative silver dollar honoring American World War I veterans. Is a mintage of 350,000 to low?. It’s to high. It should be made under 50,000, why you ask, for the price it’ll cost us, a couple of months after the fact, it’s already a sleeper, and much cheaper to get from a third party, it’ll never sell for what you got into it. I’m also a Veteran, and, we all should be honoring American World War I veterans and all Veteran’s to, however there’s a ton of Pork and Earmarks in Congress that should of did this years ago for us Veteran’s. After all, we Veteran’s earned it.

Chuck Schroeder
St. Petersburg, Fla.

None should be minted. About as exciting as the 2012 Birthday set, the Ronald Reagan Gold Coin, etc., etc., etc., etc.,etc.

Bill Peyton
Address withheld

Just one WW I commemorative would seem to be sufficient;
with a mintage of around 200,000. That ought to be about right.

Name withheld
Camp Hill, Pa.

That’s a hard question…but one that needs addressing…First of all it was meant as the war to end all wars…We all know that wasn’t the case…the war did end many things including most of the powers the Kings had over the land and it’s people….So how many coins should honor this war?
I’d say just one…one that represents only what the USA did for that war…It should be minted only in Silver…both in Proof and In BU…sold to collectors at a reasonable price and that should be the end of it…Just move on to another subject and something even better to remember…

Dennis Post
Address withheld

with them issuing a w w 1 commemorative coin the interest in such a coin would be great so 350,000 sounds like a lot but I don’t think that’s enough they need to issue more like 500,000 to 750,000 and make an order limit of one per order! I sure know I want one to add to my collection of commemoratives hopefully in proof issue please don’t mess it up like the silver eagle set! thank you

Michael P. Schmeyer

Halsey valley, N.Y.
I think a mintage of 350,000 is a great number, because it is a higher mintage than that of the 25th Anniversary Silver Eagle sets, which no one could seem to get, and not so many that there is an overwhelming surplus and half of them end up in mint vaults.

Alex Helzel
Greensburg, Pa

From the Feb, 17th Numismatic News E-Newsletter: Dime production jumps. Are you using more of them? Here are some answers sent from our e-newsletter readers to Editor, Dave Harper. 

Interesting question. I doubt if many people pay attention to their change these days.
For me, the only coin I seem to use is the quarter. Perhaps that is because I am a simple guy, and I can add up to a dollar simply by counting my fingers. The other denominations simply take too long. But really, when I think about paying for something, I might add a quarter to a purchase, but I don’t recall the last time I used anything smaller.
Also, it seems like the quarter is more socially acceptable. Who wants to wait in line at the market while the person in front of you is counting out their pennies and nickels to pay for a purchase?
I keep all of my small coins in a jar, and once it gets too heavy I take them to the bank and make a deposit. I’m curious to hear if you receive similar feedback from others.
Bill Bryan,  Phoenix, Ariz. 

I’m not using more dimes but seem to be getting more dimes in change. Feb. 16 I received five dimes, nickel and one 2012-P (we usually get Denver mint coins) America the Beautiful quarter of Puerto Rico from an Arby’s.
Perhaps a shortage of quarters is the reason for the call for more dimes, but it looks like they would mint more quarters if that were the case.
Hoyt Thompson, Hugo, Okla. 

Yes, I get more dimes every day and fewer nickels. By the way, I never found any 2010 dimes or nickels.
Tom Watson, Colton, N.Y. 

The dime, because of size, is still worth promoting for a ciculating coin. Think about it! If we all can save on taxes and bank fees, what harm can it do!
Gary Kess, Escalon, Calif.

I really can’t say that I’m using more dimes now than in the past. However, due to inflation, I very well could be using more dimes than at any time in the past, and I’m 70 years of age.
Larry W. Young, Tyrone, Ga. 

My personal use of dimes hasn’t chagned.
Maybe the strategic coin reserve is running low. Or maybe since it’s the lowest denomination that remains profitable over face value, it’s being struck for the seigniorage?
Michael Jacobs, Lake Zurich, Ill.

The Mint is strange. I find more pennies, nickels, and dimes on the ground than ever before. The general public would likely not even miss them if the Mint stopped making them.
The younger generation today uses debit cards for 90 percent of their transactions. They purchase items with iPhones now. But the Mint keeps pushing out coins.
The government can’t figure out how to cut the deficit. Now they want to make a cent that costs less than a cent to make. Whatever they make it out of with be a joke. Plastic? How about recycled plastic milk bottles?
Nick Rubino, Burlington Mass.

I am not using more of them.
Robert Bakanowicz, Kimberling City, Mo.

There’s lots of change out there, but not in the years of 2009 2010, 2011 and 2012 yet. I see a lot of the older years, of dimes also, the dime production can jump all it wants to, if they don’t get out of the warehouse and into the banks, we won’t get them. Every time we spend a few dollars, we get hands full of change. To bad it’s not all 90 percent silver ones. That would be nice.
Chuck Schroeder, St Petersburg, Fla.
To be absolutely honest with you, I can’t even remember the last time I needed to use a dime to pay for something I had bought. In nine out of ten instances, I will most likely use quarters as change and even then, I most often receive back in change a nickel and a few cents. I can’t imagine how the US Mint is justifying such a big Dime production push anyways. I too would like to know whose using them? And if not, where are they all going? As I see it, maybe we’ve got it all wrong; keep the penny and nickels and stop-producing the dimes.
Mercury R. Williams, Seattle, Wash.