July 2019 Numismatic Legislation Review
1921-D Peace Dollar
The bill calls for the issue of no more than 500,000 $1 silver coins commemorating the Morgan dollar and the Peace dollar in 2021. If passed, 2021 will mark the 100th anniversary of the end of the Morgan Dollar and the beginning of the Peace Dollar.
Aside from being excited about the issue of the coin, the one line that has caught the interest of collectors is that “it is the sense of Congress that if the Secretary determines it to be feasible and cost effective, the Secretary may mint some of the coins minted under this Act at the Nevada State Museum (formerly a United States Mint facility) located in Carson City, Nevada.”
Although it seems like a good idea, there are a lot of questions whether striking coins in Carson City would be feasible. Since the facility is an active museum, would Nevada be willing to give up a piece of their operations to the federal government? How disruptive would be to the museum’s activities before and after striking the coins?
How would the U.S. Mint strike coins at the museum? While the facility has old coining presses used for demonstrations, they may not be capable of manufacturing modern coinage. Then there is the other equipment involved including an upsetting mill to put an edge on the coin.
The Carson City Mint was built in 1863 to building codes and security standards of the mid-19th century. After the Mint stopped striking circulating coins in 1893, the building became as Assay Office. In 1933, the Great Depression ended its service as an Assay Office. The federal government sold the building to Nevada in 1939. While the Nevada State Museum has updated the building’s security, it is doubtful that it would meet modern U.S. Mint requirements.
Striking coins with the CC mintmark may have an appeal to the collecting community, it might not be feasible and cost-effective.
S. 239: Christa McAuliffe Commemorative Coin Act of 2019
The Senate passed the Christa McAuliffe Commemorative Coin Act of 2019 in July. Like the Women’s Suffrage Centennial Commemorative Coin Act (S. 1235) passed in June, the bill is being held at the desk in the House of Representative because of an objection by one of its members.
A source claims that a freshman member of the House has objected to these bills being first passed by the Senate. This member cites Article I Section 7 of the United States Constitution where it says that “All bills for raising revenue shall originate in the House of Representatives.” A spokesperson in the House ’Clerk’s office would not confirm or deny the ’source’s claim.
H.R. 3757: 1921 Silver Dollar Commemorative Coin Act
One Take On Investing In Gold
Last Wednesday, I wrote about the potential seigniorage of the 2008 American Buffalo 24-karat Gold Coins and suggested that some may be used as an investment. Remember, I am not an investment advisor and don’t pretend to know what I am talking about in that area. But if you are watching the market price of gold as an investor or interested bystander, you know that it has been in a real roller coster ride this year.
Since writing about the gold Buffaloes, gold has dropped to $954.60 (as of 5:15 PM, NY Time) from Wednesday’s close of $975.10. It may have a lot to do with the upward movement of stocks on the New York Stock Exchange—NASDAQ was down because of lower than expected earnings reports from Microsoft (MSFT) and Google (GOOG), two technology sector bellwethers.
As an interested bystander, I was wondering about gold in this market. I was pointed to TheStreet.com, the site started by financial guru Jim Cramer, to see what they had to say. I came across the following video report about investing in gold during these economic times:
It is an interesting take on the market. My posting it here is by no means an endorsement of these opinions or a recommendation. You should consult with your investment adviser (if you have one) and make the decision that fits your investment goals. My interest is as a coin collector but would like to see some value from the collection as I consider the eventual passing of my collection to my family.
B-Roll Video Fun
I went to see my orthopedist on Friday for a post-operative check up. While the visit went well, the office building where he is located is a very long walk from the front door to the elevator. Rather than make this my Friday to get my new iPhone 3G (I still want one) I have been recovering from that shlep.
While surfing the Internets, I was looking for interesting video. Other than the usually list of follies, viral videos, and cuts of previous on air performances (“needs more cowbell!”), I found something numismatic I wanted to share.
The Bureau of Engraving and Printing calls this B-Roll video of the printing of the new $5 notes. “B-Roll” is a television term for background video that is interspersed with another story. It received its name from the days of editing video segments on film where the primary story with the reporter talking was on the “A” or primary roll of film while the background information was on the B-Roll. The term has survived through the video and now digital era. Eventually, it is placed in the archive and later called “stock footage.”
If you are interested, you can find the B-Roll information in the Media Center on the BEP New Money website.
Buffaloes Are Coming
While I was in surgery, the US Mint announced that they will be accepting orders for the new American Buffalo 24-karat Gold Coins starting on July 22, 2008. In addition to the one ounce coin that has been issued since 2006, the Mint will add half ounce ($25), quarter ounce ($10), and one-tenth ounce ($5) fractional issues. They will also sell a four-coin sets that contain one coin in each size.
I was curious as to what premium the Mint was putting on these coins. Using the spot price of $975.10 (as of market close, 4:00 PM on July 15), I took the Mint’s announced price of these coins to create the following table:
| Option | Price | Metal Value | Premium | Premium Pct |
| Proof One Ounce | $1,199.95 | $975.10 | $224.85 | 23.06% |
| Proof Half Ounce | $619.95 | $487.55 | $132.40 | 27.16% |
| Proof Quarter Ounce | $329.95 | $243.78 | $86.18 | 35.35% |
| Proof Tenth-Ounce | $159.95 | $97.51 | $62.44 | 64.03% |
| Proof Four-Coin Set | $2,219.95 | $1,803.94 | $416.02 | 23.06% |
| Uncirculated One Ounce | $1,059.95 | $975.10 | $84.85 | 8.70% |
| Uncirculated Half-Ounce | $539.95 | $487.55 | $52.40 | 10.75% |
| Uncirculated Quarter-Ounce | $289.95 | $243.78 | $46.18 | 18.94% |
| Uncirculated Tenth-Ounce | $129.95 | $97.51 | $32.44 | 33.27% |
| Uncirculated Four-Coin Set | $1,959.95 | $1,803.94 | $156.02 | 8.65% |
If you are into buying gold coins for investment purposes, it looks like the uncirculated one-ounce and multi-coin sets are the best bargains. Since I am not an investor, I will be purchasing the proof one-ounce coin to go with my 2006 and 2007 coins.
I’m Back and Catching Up
I am back, feeling better, and ready to look what has happened in the world of numismatics. Two items of interest are the National Parks Quarter Bill and the availability of the Presidential Dollar Uncirculated Set.
Last week, the House of Representatives, passed H. R. 6184, America’s Beautiful National Parks Quarter Dollar Coin Act of 2008, with a 419-0 vote. If the bill passes the Senate and is signed by the President, it will give us 11 more years of changing quarters. There are some interesting tidbits in the report from the Congressional Budget Office. I will write about this report in a few days.
The US Mint announced that the Presidential $1 Coin Uncirculated Set will be available on July 24, 2008. The set will cost $15.95 and contain coins from both Philadelphia and Denver with coins honoring James Monroe, John Quincy Adams, Andrew Jackson, and Martin Van Buren. Coins will be encased in a blister-type package so that the edge lettering can be seen with biographical sketches about each president. I think I’ll pass on this one for the entire uncirculated set.
Thank you to those who have remained subscribed to the RSS or email feed. More good stuff is to follow!
Please Stand By…
For the last two years, I have been experience knee pain that has only become worse over time. Now I am down to my last option: surgery. Tomorrow (7/11), rather than purchasing an iPhone 3G (I really want one), I will be having multiple problems arthroscopically repaired.
After spending the week trying like mad to finish “real work” (as in the work my employer is paying me for), I will be taking the next few days off from the computer. I will be back shortly.
I would like to thank everyone for reading. I do have fun writing this blog and I like it when I know people are reading. So as they used to say when the transmission towers would go down in the old days of television, please stand by.
Support the Coin Collectors Blog
Buy me a coffee
Thank you for your support!
Let Me Know What You Think
Are you going to the World's Fair of Money
Total Voters: 17
Loading ...