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This week’s letters (05/08/12)

 

U.S. should take a lesson from Canada
We Americans south of the border have for years made fun of our neighbors to the north. It was all in good fun but now the shoe must be on the other foot.
They got rid of that pesky paper dollar and went to a longer lasting dollar coin. They are now getting rid of their cost ineffective cent. One has to wonder what the United States is waiting for?
They say seeing is believing. Well how many industrialized nations have to make this switch and discontinuance before our own government wakes up and sees we are way behind on this one?
Whether it’s a pride issue or simply density, it is time to stop the paper printing and making coins that cost more to make than they are worth.
As a side note about relegating the dollar coin as a collector only issue. If this continues all of our coins will only be available in mint and proof sets.
John Murphy
Lindenhurst, N.Y.

Why is value so low for 1931-D Mercury dime?
The 1931-D dime had a mintage of only 1,260,000, making it the fourth lowest mintage of the Mercury dime series.
Five lowest mintages and their price in MS-60:
1916-D 264,000 $13,750
1921-D 1,080,000 $1,300
1921 1,230,000 $1,175
1931-D 1,260,000 $100
1921-S 1,520,000 $850
Prices listed in chart are quoted from the April 2012 issue of Coins magazine.
1931-D has a mintage of only 30,000 above 1921 yet 1921 costs 12 times more than the 1931-D in grade MS-60.
1926-S mintage is 260,000 more than 1931-D yet 1926-S cost 8.5 times more than 1931-D in MS-60 grade.
Based on the cost of 1926-S in MS-60 the 1931-D dime should cost around $1,000 in grade MS-60. Why is the 1931-D so under valued?
Wayne Munscher
Largo, Fla.

Collectors justified in feeling upset over sellout
I must attempt to reply to the “Viewpoint” by Michael S. Shutty Jr. in your March 27 issue.
Mint officials knew the 25th anniversary silver Eagle series would be a rapid sellout with its mintage of 100,000 sets. A single set limit as done with the initial issue of the 2009 Ultra High Relief $20 would be the only choice for collectors to have at least some change to obtain a set from the Mint.
It is obvious beyond any doubt that the five-set limit was for the benefit of the major grading services and dealers who chose to have plans in place with individuals able to spend the hours necessary to obtain multiple orders, and then to have them enter the market.
Most present collectors do have jobs which require one to perform their duties during a business day. The “sellout” occurred by mid-afternoon on the day of release.
I am sorry that Mr. Shutty was not alive at the time for the release of his desired 1909-S VDB, but to ridicule the present collector’s anger at having little to no change for obtaining a set of a current issue does a real disservice to the hobby. Perhaps he should spend a portion of his book royalties on his desired treasure, while regular collectors will continue to make choices with their resources.
Julian N. Hayes
Lexington, S.C.

Took a long time to get first 2012-D cent
I found my first 2012-D cent in circulation on April 13. In some 40 years of recording the first coins found each year, this is the latest I have ever recorded finding my first cent. My previous latest find was April 10, 1971.
The coin I got was along with several other Memorial cents and had seen some circulation. It had the circular scratch as found on the ends of a roll sometimes..
Bill Lonergan
Santa Susana, Calif.

Halt use of cent, round cash transactions
I need to clarify something that you had once asked with regard to the cent and dollar bill. My opinion is that the cent needs to be discontinued and rounding should be implemented in transactions for cash.
Most use debit cards and the cent should be used in a debit card transaction. The dollar bill needs to be abolished and a dollar coin substituted along with the return of the $2 bill. The Mint should just go ahead with the dollar coin and engraving should just proceed with the $2 bills.
I am not versed in the law behind these moves, but I see no reason why the public would have a choice, but to use the currency and coin provided.
Michael Agneta
Edison, N.J.

Coin show tax an example of state’s high taxes
Regarding the article, “Show Put on Leash,” it seems that liberal Madison as an island surrounded by a sea of reality still does not get it.
Just another reason why I moved from Wisconsin to South Dakota. The tax teeth are not nearly as sharp here.
Don Stoebner
Leola, S.D.

No 2012 national park quarters yet in Wisconsin
I don’t know if anyone has already reported, but the 2012 cents from Philadelphia have shown up in Wisconsin.
On the other hand, I have yet to receive any national parks quarter.
Tom Snyder
Waukesha, Wis.

2012-P nickel shows up in New Jersey
If I recall correctly, you had recently requested Numismatic News readers to report any 2012 coins encountered in circulation. Last week my wife received a 2012-P nickel in change.
Mel Kassenoff
West Orange, N.J.

We lost the presidents, don’t lose the pennies
I have always preferred obsolete coins. I am 76 years old and can remember my annoyed father’s voice as he handed over to me the 1943 pennies. Darn things look like dimes! Indian Head pennies were also to be found. From that moment on, I was a collector!
It wasn’t until I joined the local coin club in 1989 that I saw LIBERTY spelled out on the headdress and on most other older coins. I surely don’t want the Mint to lose money on its mintage, but I do love my pennies and teaching many young people about collecting them. I am now amazing people with my 1793 German kreuzer. I also remember the ration tokens of WWII. I do not want to have to use things like that again for money.
After searching for the golden presidents for everyone’s’ grandchildren and pressing them into the nice cardboard provided, we are dumbfounded that they will no longer be gotten at banks or circulating! I have to face dozens of youngsters with the story that the Mint blew it. No one wants half a set.
June Mueller
Erie, Pa.

Civil War token found its way into roll of cents
Today I found an 1863 Civil War token. I’m not exactly sure how it got in the roll I was searching, but I’m sure glad it did. I had never seen one before and I thought it was a fake Indian cent.
My coin collecting friend told me what I had found. It weighs 3.1 grams, the same weight as a copper cent.
Bob Atwater
Conway, S.C.

Cent discontinuation may prompt penny hoarders
I feel that if they would discontinue the penny, people would put all the hoarded pennies back in circulation, I have quite a few that I would start carrying.
Ben Watkins,
Hillsboro, Ore.

Convenience store change yields 4 new cents
My change from a convenience store in Cumberland, Md., had four 2012 Lincoln cents – nice.
I read about the 2012 cents found in a Hagerstown, Md., convenience store so I thought I better check that shiny change I just got and there they were.
J. Sowers
Cumberland, Md.

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