Yesterday I saw a commercial staring Kermit the Frog, of all muppets, procliaming the U.S. Mint was starting to put out a series of quarters representing each state.
That means fifty different coins, each with a different visual/text backing.
Why?
I can understand the Post Office putting out a great many stamps because that means people buy them as part of collections and it's free profit. People will certainly collect these coins, but unlike stamps, coins can't just be minted at will to sell.
People will take these coins out of circulation in, I believe, large numbers.
So - why? Is this just PR for the Mint or am I missing something? And if it is just PR...why again? The Mint is one part of government that no one seems to dislike.
I’m not a coin collector, but I’ve been trying to save one of each quarter as they come out. I personally think they’re kinda neat. New & kicky. And they at least look like real money, not like the new $100’s, $50’s, & $20’s. Am I the only person that thinks those bills look like Monopoly money?
***Mardi: {{People will certainly collect these coins, but unlike stamps, coins can’t just be minted at will to sell.}}
It was touched on in one of the other threads, I believe. The key is proof sets–uncirculated coins protected and sold to collectors. The first four designs are out, and the sets cost something on the order of $11–so I’ve been told. Pretty good mark-up for a coin which costs three cents to mint, and this is going to go on each year for the next 12 or 13 years. (The value of a complete set of 50 will be higher than piecemeal sets, so serious collectors will have to buy all of them.)
In other words, it’s all about money. (You didn’t think I’d really say that, did you?)
***Cristi: {{Am I the only person that thinks those bills look like Monopoly money?}}
I think they look like a cross between Canadian currency and money from The Game Of Life.
Well, the new designs sure beat those tired eagles on back clutching arrows. Oooo BTW, i recently found the Delaware quarter and tonight i found the New Jersey quarter :).
Doobieus, how far are you from a mint, or a federal reserve bank? I’ve seen every “new” quarter within about a week of its premiere, and for the DE and NJ quarters, that’s been several months ago (ie February and March or so.).
whc03grady (think i got that right :)). I live all the way in California. Way on the other side of the country. I know you can buy the sets, but it’s more interesting to wait and see what coins you will find next :).
The US introduced the Lincoln cent in 1909, Jefferson nickel in the 30’s (I think), Washington quarter in 1932, and Franklin dime in 1945. Since then the only changes we’ve had are the back of the penny in 59, and the hardly-ever-seen Kennedy half dollar in 64, unless you wanna count the never-used Anthony dollars.
Bottom line: I’m tired of all these old coins, and I like seeing some new ones.
Doobieous, I’ve been totally sucked into the Mint’s evil tactics. I bought the Proof Set for this year (and plan to do so every year until I have all of the 50 State Quarters) and I bought the 50 State Quarter Map so I have a place to organize the 50 State Quarters that I collect from my pocket change. Full of fascinating U.S. coin facts, that map is.
***Nickrz: {{Do you really think the whole idea behind this is to make money? (By making money?)}}
I think that’s a big part of it. It’s also a PR stunt for the Mint, and a way of implying the federal government loves all its little states. (Let the warm fuzzy feelings flow.) And it gives us something different to talk about during our low-stakes poker games. (“Hey, is that a Jersey? That only counts twenty cents.”)
I bought the Proof Set for this year (and plan to do so every year until I have all of the 50 State Quarters) and I bought the 50 State Quarter Map so I have a place to organize the 50 State Quarters that I collect from my pocket change. Full of fascinating U.S. coin facts, that map is.