• seperator

Time for Mint to close its doors?

Does the U.S. Mint want to give up some or all of its duties to strike circulating coinage for all Americans?

Private firms already provide blanks to the U.S. Mint. Has the time come for the venerable institution to farm out the actual striking process as well?

Perhaps so.

There is some murmuring going on behind the scenes on Capitol Hill that the legislation being considered that would empower the Treasury Secretary to set the compositions and weights of the circulating coins is somehow being drawn up so that it is setting up a private firm to get a contract to strike coins.

How would collectors and others feel about this should the scuttlebutt prove to have some grain of truth in it?

As you might expect, I am paying close attention. More will be coming one way or another as Numismatic News explores this further.

This entry was posted in Buzz. Bookmark the permalink.

2 Responses to Time for Mint to close its doors?

  1. Bobby says:

    An interesting entry. Recently on my forum we had a previously banned member try to have some fun with us. He posted a photo of a pile of OC’s and claimed to get them at his new part time job.

    Later in the topic he claims that he works for a company that supplies the sheet stock to make the planchets and that they send back the errors to his company to be melted. He further claims that he sells off the good ones to Fred Weinberg.

    While this particular topic was a complete ruse, it sparked some serious emails from my members wondering if this could really happen. I wish I had an answer for them. Could it happen? Who knows.

    I let the topic stand with my own notes in the pranksters posts if you would like to take a look….

    http://www.coincommunity.com/forum/topic.asp?TOPIC_ID=21101

    Bobby
    Webmaster / Co-Owner: Coincommunity.com

  2. It’s definitely time for something to happen. The mint has
    obviously gotten over it’s head. The massive numbers of state
    quarters, dollars, commemoratives, etc., etc., that they have
    forced themselves to put out, is obviously taking it’s toll.
    I’m curious as heck to know how many unneeded coins they have
    put into storage, just since the start of the state quarters,
    but not just those, but all coins, during that period to present. It’s obvious that the quality has gone down, not just in business coinage, but collector coinage as well. We read about all the results constantly. And just a side note, why
    can’t they make a copper plated aluminum cent. Is zinc really
    something to be proud of?

Leave a Reply