New coin dollars

[dewcon4414]

For those of you who collect coins have you noticed something about the new dollars? Well yesterday was my first experience at getting a roll of these coins. The most obvious thing was ... the dates missing. Seems someone made a not so bright decision to put the date on the side of the coin. I dont think those dates will last long. In fact it will be interesting to see what these coins look like after a year or so in the ground.

Dew

 

[oldcellar]

They turn brown, the two I found look real nice, but lets see what a few years does to them. They sound like clad quarters.

 

[Kruegerrand]

We have been using them in seeded club hunts for the past several years and seem to hold up about as well as zinc pennies. A couple of years ago we started putting them in plastic bags for protection if they weren't found

 

[Dave-WI]

I wish they would start circulating them more. I would much rather dig one dollar than one hundred clad pennies

 

[dewcon4414]

You need to do your part if you want them circulated. My bother gets a roll every time he goes to the bank just so he can give them out. Its funny when you give them to someone. We gave a few as a tip and to pay our lunch bill one day and the manager came over. He said his waiter wanted to know if these coins could be spent. He didnt know either.... It had something to do with NO VISIBLE DATE on the coin. Im surprised how many people dont even know these coins are out there.

Dew

 

[dirt doctor]

Hey Dew ,

If your ever in an ornery mood and want to cause mass pandemonium pay with Kennedy clad Halves at the drive up window at McDonalds .It brings things to a standstill as most of these kids have to call the manager over to see if this is real money .

H H ,
George

 

[Kruegerrand]

I also use them as tips from time to time. A few years ago I took a roll on a business trip to China. At the time the exchange rate was seven RMB to one dollar so you can imagine they caused quite a stir.

 

[Crispytoo]

Until the government quits making paper dollar bills, people will not start to use the dollar coins. When people get them as change, they go right into a drawer or on a shelf somewhere as an oddity.

 

[marcomo]

Until the government quits making paper dollar bills, people will not start to use the dollar coins. When people get them as change, they go right into a drawer or on a shelf somewhere as an oddity.

Crispy, you're 100% right.

Most people prefer the bills and aren't going to switch to coins as long as the bills are available.

Seems like common sense, but the government just can't figure that out and keeps trying over and over to get people to use the dollar coins without any compelling reason to do so.

And we all know it costs more than a penny to make a penny, right?

If you're not going to eliminate the penny, common sense would say you would want to discourage people from hoarding pennies.

So what does our government do? Make a bunch of new designs to encourage people to collect and therefore not circulate them.

 

[dewcon4414]

They produce them for collectors pure and simple. You should hear all the hub bub in coin world about the ments decision to NOT produce the 2009 eagle coin. The collectors are ticked... it messes up the set. As far as that penny goes... theres a reason it cost more. Jefferson ensured our coins cost more so no one can conterfit them... its just not cost effective. However, China has no conterfitting laws and we are getting a ton of old silver being conterfitted. Watch those new looking coins... if you have a choice between the MS coin and the well toned one... take the toned. They are even reproducing the graders like PCGS sealed coins. Do a little research before you buy..... those coins on EBAY arent always the best buy. Think about it .... they can produce the coins now at a profit because these old coins have gotten so expensive with metal prices being up.

Dew

 

[Hotcz70]

Dew...it will be interesting indeed

 

[minelab marcus]

Hi all,
Haven't posted in a while but keep an eye on all your great finds.
In Canada here, that is what they did when they brought out the dollar coin - the loonie. The banks were told to return all paper dollars to the Mint for shredding.
Paper one dollars disappeared very quickly, so quickly that many didn't have a chance to keep a few for collecting.
Same with the two dollar coins.
There is a rumor that they are thinking about a $5 coin as well.
And speaking of making coins that are extremely cheap, all our coins, even pennies are electroplated steel slugs. It doesn't take long in the ground for them to start rusting. I have found $2 coins that were so rusted you couldn't make out the design.
Pretty soon a large strong magnet on a string will do better than a detector.
HH
MM