From the Dec. 2 Numismatic News E-Newsletter:
Should the Mint strike the Roosevelt dime, Washington quarter and Franklin half in gold?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
No! Enough with the gold coins already. I did purchase the Merc and Standing gold for the 100th anniversary, but when I saw the amount the Mint wanted for the 50 cent gold Walker, I said no. I might be able to purchase one already certified for that price. The Mint is taking advantage of its customers. What I think the Mint should do is make them out of silver. Whether 90 percent or .999, either works for me. It would be nice to have the coins in their original medal.
Yes, OK to make gold Franklin halves because they are no longer being minted. No, not OK to make gold Roosevelt dimes or Washington quarters because criminals would gold plate current-year coins and pass them off as the gold issuances.
Bruce R. Frohman
Yes and no, and in silver, palladium, platinum, copper, titanium, nickel, zinc, steel, magnesium, iron, aluminum; when will it end, Dave? I personally would like to see the U.S. Mint return to platinum tenth-, quarter-, half-ounce coins, maybe even palladium ones. I still don’t understand the price difference between the new Walkers and First Spouse gold coins. Tell me that!
I know it’s not up to the Mint, but we should replace all the designs on our circulating coins. But in response to your specific question, my opinion is no.
North Hollywood, Calif.
To broaden the appeal of coins with the public and to kindle awareness, I would suggest striking a cent, nickel, dime, quarter and 50-cent piece in silver and gold.
1) Issue every three years.
2) Offer as individual coins and in sets.
3) Announce that the first two issuances would only have a small premium.
4) Thereafter, market prices and Mint practices would prevail.
5) Would issue a qualified number of coins and sets with small holes at top to use to attach to bracelets and necklaces.
6) Would ask vendors to work out a holder that a man or women could use to house the coin for display on their lapel, hat, etc.
With the basics in place, the real effort would be in the sales and marketing:
1) Suggest hiring or granting exclusive rights to a private-sector company to execute the plan.
2) Would enlist “Jeopardy,” “Wheel of Fortune” and other game shows to include the coins in their prizes.
3) Would enlist Disney and Universal to put up a coin ride or coin arcade for kids.
4) Would ask the authorized casinos to issue payouts with the coins and to use them as prizes.
5) Would request that the state lotteries use the coins as part of their payouts.
Guarantee by the Mint:
1) Mint would guarantee repurchase of the coins at any time for the average price of gold and Silver, less 10 or 12 percent (No. 5 to be determined after an extensive analysis to finding out the percentage the people would be most comfortable with.
2) Would also sell to foreign Nationals.
Yes, in 2046 for the Roosevelt dime.
In 2032 for the Washington quarter and 2048 for the Franklin half.
I most likely won’t be around to be so ripped off by such outrageous Mint surcharges as I was recently for the gold Mercury dime: approximately $75.
For the Standing Liberty quarter, the surcharge/premium was around $185.
As for the reduced-sized Walking Liberty half the cost of $865; with gold at around $1,200 per ounce; this made for a premium of $265! What a shock, huh?
And too bad it wasn’t 3/4 of an ounce of gold like the 2014 gold Kennedy commemorative half, which looked so much more genuine in size and shape.
Grand total of these surcharges/premiums (over the actual cost) for .85 of an ounce of 99.99 gold: $525 + $14.95 (shipping) = $539.95.
Now, who wouldn’t think that is excessive? I almost feel guilty for even buying these coins:
I mean the packaging is nice, but these types of “offerings” from the United States Mint are getting overpriced and out of hand.
I will start saving for the Washington quarter in 2032.
Thanks for asking.
Jim St. John
I think the Mint charges too much for the gold coins. If the Mint would work with the collectors and not over-charge, then a gold Roosevelt, Franklin and other coins are a good idea.
For a limited edition, it may be worthwhile. Outside of this, why mess more with “sets." Nothing more to be said!
Berkel en Rodenrijs
No, the gold moderns are overdone already.
There are far too many offerings at this time. One cannot keep up with them.
No!! Sales campaigns have made coins collection a joke.
NO! NO! NO! NO! NO! NO! NO! NO! NO! NO! NO! NO! NO! NO! NO!
If they do, I have purchased my last product from the mint!
I think it would be right just for this year (2016) as a commemorative set but not for all the years to come.
Bob D. Allen
They should mint gold flowing hair dollars, half dollars, etc.
I think that the average coin collector can’t afford gold coins.
No, the Kennedy half was special. Now they are overdoing it.
This article was originally printed in Numismatic News Express. >> Subscribe today
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