Letters to the Editor: March 2, 2021

March of Dime Proof Mintage Correction

Mark Benvenuto has written a very good article in “Big Bargains in Big Silver” [Feb. 2, 2021, issue] except for a major error in his information

In the second to last paragraph, he gives the mintage of the 2015 March of Dimes proof $1 as 32,030, just like the Red Book and the Mint’s own website.

Problem is, there were also 74,430 of the proof $1 issued with the Mint’s three-coin set of dollar, “W”-mint dime and reverse proof dime.

That brings the total mintage to 106,460, not the “mere 32,030, the smallest figure we have seen so far.”

I feel this misinformation needs to be addressed in Numismatic News before collectors and investors take a bath like I did.

I too went by the information in the Red Book and bought a bunch of the $1 proof until I bought a three-coin set. Then I had to wonder how there could be 74,430 of each dime but only 32,030 of the dollar.

Ken T.
Address withheld

News Element Missing in Numismatic News

As a longtime subscriber, I enjoy all your articles in NN, but what you seem to be lacking of late is actual news in the world of coin collecting. Some examples: Why no story about the fact that no 2021 quarters will be released into circulation from the West Point Mint for the first time in two years? Where are the photos and story of the 2021 quarter returning to its 1998 obverse with a new reverse? Why no story about “S” quarters from the mint bags being found in circulation? How about the fantastic story about new 2021 Morgan and Peace dollars? As I said, your articles are wonderful. But please live up to your magazine’s title and return to giving us news as well, especially for those of us who enjoy finding coins in change.

Raymond Santoro
Oracle, Ariz.

Editor’s Note: We always appreciate reader feedback. Thank you! The editorial team will take it into account as we plan future issues.

A story on the new 2021 quarter design ran on Page 8 of the Jan. 23 issue, and a story on the 2021 Morgan and Peace dollars was the cover story of the Feb. 9 issue.

American Eagle Bullion Program Cheats Collectors

The amount of corruption in the U.S. Mint’s Eagle bullion coin sales program is astounding. The Mint sells 2021 silver one-ounce eagles to its wholesalers at $3 over spot. The wholesalers resell the coins to other dealers after its mark-up. Then the dealers resell the Eagles after another $15 per coin or more mark-up. What a corrupt scheme to enrich a few!

I just received an advertisement from a dealer that sells nationwide for MS-70 2021s for $229 each. As I write this with spot at $27, I cannot find any for under $40 even though millions are being made. Forget fairness. This program is corrupt. No collector in his right mind should buy any of this product, period. Don’t enable this crooked scheme to continue. The public is being cheated. The U.S. Mint doesn’t seem to care. Complain to your representative in Congress and ask for an investigation.

Bruce R. Frohman
Modesto, Calif.

Articles on Counterfeits Need More Detail

Another article about fakes in Feb. 2 issue. I asked before, where are the details? Previous articles talk about finding fake eagles, bullion bars, certified coins, etc. Even if the event is still in court, we don’t need names, just the item description. How it was discovered, what to look for. Mr. Fazzari writes great articles about counterfeits, altered coins, fakes. More details would really help the hobby.

Name and address withheld

Date Range for Bullion Promotion is Suspect

Always curious when a writer picks one particular start date to prove a point. Why choose a 21-year interval to “prove” your assertion that gold, palladium and silver are the “best” investments. Could it be that 1999 was an unusual year? Would your results be the same over any other 21-year comparison?

Steven Fitzgerald
Denison, Iowa

Kagin’s Run for ANA Presidency Encouraging

Very happy to see Dr. Donald Kagin announce as an ANA Presidential candidate. I predict new and exciting levels of hobby participation and administrative professionalism under a Kagin ANA stewardship.

John Beam
Baltimore, Md.

Silver Eagle Numbers Suggest All are ‘First Day’

I am watching the latest American Silver eagle with privy mark being sold and graded by a third-party grading service (TGP) as “First Day of Issue” and “Early Release’’ or “First Strike” by one of the usual hucksters. He makes such a big deal about the grade and the early designation that got me to wonder how many can the Mint make in a day. I discovered that the Mint, in order to meet demand, was going to ramp up to make 400,000 a week, even in a time of COVID. Assuming a five-day work week, that is 80,000 coins a day. So, wouldn’t all of the privy-marked Eagles be “First Day of Release” or whatever early designation the TPG companies want to baptize them with? Isn’t it about time your magazine covers the hobby from the consumer side and describes just what the actual experience is like? Order something and see how close to the truth your purchase is. I do try to buy from your advertisers just to see how close to their claims they are. Want to know? And so far nothing terrible. After all, is your magazine for the collector or the advertisers?

Alan Hepler
Laytonsville, Md.