From the Dec. 6 Numismatic News E-Newsletter:
Should the Mint make other large coins like a 5-ounce copper Lincoln cent?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
I can see how this question is pertinent today. As the middle class shrinks, the ability of the collector to purchase gold or silver coins is getting harder and harder.
I cannot afford to purchase any gold coins and lately keeping up with all the silver offerings of the Mint is starting to put a strain on my coin purchasing budget.
Whether copper will take the place of silver is anyone’s guess. Depending on the design, I may purchase a few from a numismatic perspective, but not for a bullion purpose. Is this a sign of the extinction of the middle class? I certainly hope not.
Bronze coins are a great way to collect copper. If you are not ready to collect copper bullion, you might like the 3-inch bronze medals the Mint is selling to commemorate the Code Talkers. I noticed a couple of tribes in my area are represented. The designs are very interesting. This might make a nice collection. They also sell a 1.5 inch medal if you really don’t want to just hoard copper. The Mint is also selling military bronze medals.
On another note, I see colorized coins nominated for Coin of the Year. I think the colorization of coins should not start coming out of the U.S. Mint. I am much more excited in the use of various levels of contrast, like the 2013 West Point SP finish Eagle. Let Canada and Australia colorize their coins. I would hate to see U.S. coins colorized.
While silver and gold are at a low price, some collectors and dealers could afford to buy some, until the price goes up. What would the new coins be made of, copper or silver? Gold would cost too much. The only thing they would be good for is paperweights or a show piece to the few that would be interested in buying one.
People are complaining already about coins such as the Presidential dollars are too heavy to carry around. No one would want to carry some other larger coin around as we do not do the National Parks 5-ounce silver coins. What really needs to be worked on is a coin that will weigh less than will replace the dollar bill, then talk of bigger coins or more commemorative coins.
David Asbury Sr.
No. Those America the Beautiful 5-ouncers are not coins, but only bullion shaped to rounds.
No. We already have enough of their paperweights.
Colorado Springs, Colo.
More Coin Collecting Resources:
• Strike it rich with this U.S. coins value pack.
• Get the 2012 Coin of the Year – limited quantities remain!
• Build an impressive collection with Coin Collecting 101.
• IT’S HERE! Order the 2014 North American Coins & Prices.