No, the tragedy is not the alleged coin shortage.
Social media went berzerk because the U.S. Mint is going to sell colorized versions of the Basketball Hall of Fame Commemorative Coins.
How dare the U.S. Mint do something like this? It’s… it’s… un-American!
Calm down, folks. It is only a little color enhancing a commemorative coin.
But it’s not what the U.S. Mint is supposed to be about. They are supposed to produce real coins.
Real coins? Like the mess of coins in what we refer to as the Classic Commemorative Era? Can we also consider the circulating coinage disasters like the steel cent and Susan B. Anthony dollar?
It will turn us into Canada!
I can think of worse places. I like Canada. I have family in Canada. I collect Canadian coins. However, it is not going to turn the U.S. Mint into the Royal Canadian Mint. First, the Royal Canadian Mint produces more non-circulating legal tender (NCLT) coins that the U.S. Mint. Second, the Royal Canadian Mint uses technologies like lenticular printing to create the design. For the Basketball Hall of Fame coin, the colorization is an enhancement of a struck design.It’s ugly!
That is your opinion. I like what the U.S. Mint will do to the half-dollar coin by emphasizing the ball and rim. Based on the pictures I have seen, the colorized rim on the silver dollar is not enough.
It’s not what the U.S. Mint is supposed to do. I’m not buying it!
Good! It means that I will be able to buy one for myself without trying to fight the speculators.
It’s too expensive.
Finally, an argument I can agree with. Yes, the U.S. Mint is charging too much for the colorized coins. This is because instead of bringing the technology in-house, they have to pay a contractor to do the colorization.
It’s bad for the hobby!
How many times have we heard something is wrong for the hobby. Slabs signed by television reality stars were supposed to be the beginning of the end of the hobby. Endless series of circulating commemoratives are supposed to be bad for the hobby. Commemorative coins with unpopular themes were also going to kill the hobby.
To borrow a phrase: We’re still standing. Yeah! Yeah! Yeah!
Sorry, boys and girls (and we know the complaints are mostly coming from old men). Colorized commemorative coins are not bad for the hobby. It could be good for the hobby. These coins could attract people to the hobby that may not have been interested in the past.
If you want to know what is not good for the hobby, it is the U.S. Mint selling coins that did not sell at cut-rate prices to a television huckster like RCTV that pays NGC to slab the coins with special labels and then sells them at hugely inflated prices to unknowledgeable people on television.
You may also watch for the U.S. Mint’s “de-trashing” policy that is dumping other surplus coins on the market. These are coins that did not sell during the regular sales period that will have “special designation” labels from NGC. Not that the labels would make a difference, but we know that the dealers will over-hype these coins at prices far beyond their worth.
Remember what happened with the television hucksters selling state quarters at over-inflated prices? Or even RCTV selling a set of 31 American Silver Eagle bullion coins for more than you can buy a date run of 34 coins? Eventually, these coins will end up being brought to dealers who will tell them that they overpaid.
I will take colorized coins over the feeding crap to the television hucksters any day.
And now the news…