ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

The Mint Can Help Coin Collecting

Updated on December 30, 2014

Silver American Eagle Coin

This is a silver bullion coin from the United States Mint.
This is a silver bullion coin from the United States Mint. | Source

The Mint Can Help Coin Collecting

The United States Mint produces coins, and it would seem the United States Mint would be the first to instill a desire to become a coin collector in young people. Well, the Mint does do some things, including making commemorative coins and selling some circulating coins. But, the circulation coins sold by the United States Mint should be an inexpensive entry into the hobby. This is an opportunity for the Mint to make an impact.

2015 Coin Book

Inexpensive Collectible Coins Are Possible

Looking at the current practices, first of all the circulation coins include half dollars, presidential dollars, and even America the Beautiful quarters. So, what is the problem? The United States Mint charges a premium for its circulation coins. And, to make it more of a problem, quarters minted at the San Francisco Mint and Half Dollars from both the Denver and the Philadelphia Mints are circulation pieces only because the United States Mint says so, they are not intended to circulate. If you want a half dollar from the current year, or the S mintmark on a current year quarter, you will pay a premium. Fine, it is less than double, so why not simply buy the coins needed for a collection? While it is less than double the face value, the coins cannot be purchased from the Mint one at a time. They must be purchased in rolls, in bags, or as parts of sets with a higher premium. Why should a collector pay the Mint for money, and why would a collector buy forty quarters that are all alike just to get one? Why cannot a quarter be worth a quarter, a half dollar worth fifty cents, or a dollar worth a dollar? Banks do not pay a premium for money, why should coin collectors? Oh, you can also “buy” other coins, the same coins the bank receives at face value, the Denver and Philadelphia Mint current quarters, for example..

I realize there could be an argument here that the people working for the Mint must be paid, but other mints sell coins at face value. The Royal Canadian Mint is especially coin collecting friendly. The Royal Canadian Mint makes colorized quarters that it seals in clear packages and sells at face value! One can also buy loony dollars at face value. Well, Canadians can. These are low mintage coins and sold only to Canadian addresses, with a strict limit per address. I believe authorized dealers can also acquire these coins in larger quantity, but I am not certain of this.

How does this impact the Royal Canadian Mint? With more interest in coin collecting the Royal Canadian Mint has more customers for its commemorative coins. Getting the young collectors interested and the Royal Canadian Mint has the potential to develop a customer base for future years. The United States Mint could do the same.

In some cases the Royal Canadian Mint seeks coin collectors from both Canada and from the United States. The 20 for 20 series of fine silver coins has the Royal Canadian Mint producing twenty dollar denomination coins, and selling them for twenty dollars. These are made available at a limit of three coins per household in both Canada and in the United States. These attract United States collectors and invite them to expand their collecting interests. After the initial success, a one hundred for one hundred program was started, where a one hundred dollar fine silver coin is sold for one hundred dollars. Apparently the price was too steep for some, as a fifty for fifty coin series was then started. These face value coins allow a person to acquire nice, uncirculated coins directly from a mint with no real risk. They can be spent in Canada.

Which other world mint would see this as a viable way of establishing its future customer base while expanding its present customer base? The answer is not the United States Mint, but the United Kingdom’s Royal Mint, which now has emulated the Royal Canadian Mint with its own twenty for twenty coin series. In this case it is a twenty pound coin that is sold for twenty pounds.

The tests have been run in both Canada and the United Kingdom with success, so when will the United States Mint follow? We have to await an Act of Congress before anything can be done.

More recently, I have become aware of France having collectible coins for face value.

Comments

    0 of 8192 characters used
    Post Comment

    No comments yet.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)