From the Sept. 28 Numismatic News E-Newsletter:
Will the American Innovators dollar coin series be better than Presidential dollars?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
I don’t see how they can be. Talk about a boring topic for a coin series; they must be scraping the bottom of the barrel for ideas. If it can’t be done well, then leave it alone and quit dumping junk on the numismatic public.
No. Until the dollar bill is gone, a dollar coin will not be successful.
Allen Park, Mich.
I can say from personal experience that I would not go out of my way to collect this newest series. I am a somewhat passive collector buying yearly proof sets and the occasional commemorative as a gift for someone (the Girl Scouts silver dollar that I gave to my niece, for example – a commemorative coin that turned out to be a bust for the Girl Scouts because they did not promote it).
When the Presidential Dollars came out, I was going to the bank every few weeks to buy one of two rolls of the latest release in order to populate albums and give to nieces and nephews. The cost was the face value of the coins. Then the government decided to stop releasing the coins to circulation due having billions of them in storage. Suddenly the cost to populate those albums went up 32 percent (not including shipping) to buy a roll directly from the Mint. I wound up buying just the number of coins I needed on eBay for about $2.25 per coin, which was still less than buying a full roll from the Mint.
This latest program I am sure will not be released to circulation so will still cost more than the $1 face value of the circulating coin. And if they did release the coins to circulation, I really do not trust the government to see the program through to the end. They might very well get halfway through again and decide to stop sending them to banks, as they did with the Presidential dollars.
As the saying goes, fool me once, shame on you; fool me twice, shame on me. Coins I do acquire would only be those that are in the yearly proof sets.
Glen Head, N.Y.
I doubt it, since the public will never see them or even know they exist. While I actively acquired and distributed the President dollars, I stopped after Garfield because they were no longer a circulating coin. I will not even bother with this series. I have, however, informed the New Hampshire Cultural Commissioner of their creation and that the Mint may be asking her for ideas to go on our coin, as happened with the 50 states and ATB quarters.
I think they could fare better because they are again linked to the states, as well as having historical themes honoring American innovation and know-how. With the exception of about a handful, most Presidents were rather uninspiring. These themes could more easily resonate with collectors, and the designs also appear to be more appealing. As somebody who has 17 patents to my name, I might definitely buy the “G Washington signed the first patent” example.
San Diego, Calif.
Yes, this does impose several questions. Yes, this seems like an interesting series to save one or two of each. The only difference I would think is use the current half dollar instead.
A larger area for detail, for one, is good. Since the half dollar does not circulate as well, all the better for collecting. The dollar coins can then be better used in commerce. Yes, this does include use in some vending machines.
While at it, think of eliminating circulating cents. Savings in tax dollars is good. More has been discussed prior to this. Canada and Netherlands both eliminated circulating them. If they can do it, so can we!
Las Cruces, N.M.
But my leaning is no.
Bring back some intrinsic value.
Designs are only as good as the idea they portray and how well they attract or present eye-appeal.
Portland , Ore.
They are going to need a bigger warehouse.
No, it’s just another waste of money and a new way to scalp the coin collector. So many will be made that they will never be worth anything, and they will never circulate. Retailers won’t even know what they are.
If it is the design CCAC wants, then no. Very cheap looking. Not impressed.
My guess is the new series will be better. Overall, the likeness of American Presidents was frankly quite poor.
Unfortunately, no. Just another non-circulating dollar coin saved by collectors only and another source of income for U.S. Mint.
I would say no. I still have a roll set of the first state quarters. The park quarters, I could not get them at the banks. I stopped buying them from the Mint also. Too costly.
Just as the new dollars, they do not get the young to collect them and do not have the money to collect them.
Numismatics is in a downward slant. Most of the members in my club are getting old. There is no new blood to be interested in it. The young are too involved with “I” and computer games.
Too many investors in numismatics, and not real collectors. They [investors] are also the ones killing our hobby.
Just look at stamps.
G. P. Vivian
I think anything will be better than the Presidential series. Didn’t we just get done with one? Without glorious history, this is the best they can do? Also, they should stop these series that go more than 30 years.
Silver is $14 an ounce, and we’re paying like the price never dropped. The silver Eagle series is still going on. End one before you start another.
I’m not buying any of them.
Then, if you buy them slabbed, they should be for nine dollars each. Instead $85 or $90. That doesn’t make sense, and don’t tell me they pay $50 dollars to have them slabbed. They get a nice break.
So the Mint makes out, the retailers make out, and again the collectors lose. I’m 65. I’m sure I will be around for another 20- or 30-year series. No logic. Then again, there never was. The smartest thing the Mint has done in years is to hire new designers. Because what’s coming out most is just cheep bullion with lousy designs.
The metal composition leaves a lot to be desired. From an historical perspective, it will be an interesting coin. But the Presidential series most likely will prove to be more popular.
I think we need some innovators for coin design. I have no plans to collect this set.
No, it will not. Make it a half ounce silver coin good for $5 at banks. It will go like hotcakes.
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