Viewpoint: Don’t flood market with new coins | Silver Coins

Viewpoint: Don’t flood market with new coins

2014 U.S. Coin Digest

Purchase select book or CD price guides and receive the eBook version Totally free! Discover more &gt&gt

By M. Louis Teller

In response to William H. Brownstein’s letter concerning off-metal strikes, only a tiny quantity of the article is in fact aimed at off-metal strikes.

Most of his report references the promoting of coins by mints that had inventories of uncommon coins and their promoting of these inventories to the public.

In principle, I agree with him entirely. If the coins are there and they serve no goal other than being held as storage pieces. They should be provided to the public unless the government has a particular reason for not issuing them or promoting them.

Nonetheless, when it comes to preparing off-metal strikes, piedforts and other coins of this nature, it would be cheapening the U.S. numismatic brand.

When you look at nations like the Isle of Man, Vanuatu and other entities that issue coin following coin after coin, often 15 or 20 a year, at some point these turn into nothing but pieces of metal worth their intrinsic value.

It appears a disservice to the American collector and investor public simply because there would be such a plethora of these things that individuals would shed interest in them or would not be capable to maintain up with buying them.

It would look that the U.S. government has currently produced sufficient commemorative problems and regular problems with various obverses and reverses, like the state quarters, America the Beautiful quarters and the Westward Journey nickels.

Coins produced by the U.S. Mint such as the American Eagle series, the Buffaloes and the Higher Relief gold $ 20 were created generally as bullion problems. A few of them have turn out to be rare and become collectible. But they are all monetized currency. They have a face value.

The U.S. government should not be in the habit of making, patterns, piedforts and off-metal strikes just to make funds. This will flood the marketplace with dozens and dozens of new products. This will just develop havoc in the U.S. coin collecting field.

New collectors, in order to hold up with the modern day concerns, will have to invest massive amounts of cash with the Mint and what they buy will be worth solely their metal value as these are basically non-circulating, legal-tender issues.

This “Viewpoint” was written by M. Louis Teller of Encino, Calif.

Viewpoint is a forum for the expression of opinion on a assortment of numismatic subjects.
To have your opinion regarded as for Viewpoint, create to David C. Harper, Editor, Numismatic News, 700 E. State St., Iola, WI 54990. Send e-mail to david.harper@fwmedia.com.

&nbsp

Far more Coin Collecting Resources:

&bull August special – only 25 offered! Order your 2013 Yellow-Bellied Sea Snake Coin Set right now!

&bull Get new coin cost guides, get the ebook cost-free! Understand much more.

&bull It’s Right here! Order the 2014 North American Coins &#038 Costs.

&bull Get the 2012 Coin of the Year – limited quantities remain!

&bull See what guides and supplies our editors suggest for keeping up with your collection.


Numismatic News

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *