New SBA $1 coins dated 1981?

New SBA $1 coins dated 1981?

Post by JCBENFIE » Tue, 08 Sep 1998 04:00:00



I had helped to start a rumor that new SBAs struck in 1999 might be dated 1981.
Though I haven't seen much recently on this page, let me lay to rest that
notion.  While perfectly legal, the Mint said unequivacally on August 12 at the
$1 coin stakeholder's meeting that any new SBAs that might be struck next year
would definitely be dated 1999.  Great!  Now let's spend enough SBAs to make
that happen.
Jim Benfield
 
 
 

New SBA $1 coins dated 1981?

Post by rompe » Tue, 08 Sep 1998 04:00:00


Quote:

> I had helped to start a rumor that new SBAs struck in 1999 might be dated 1981.
> Though I haven't seen much recently on this page, let me lay to rest that
> notion.  While perfectly legal, the Mint said unequivacally on August 12 at the
> $1 coin stakeholder's meeting that any new SBAs that might be struck next year
> would definitely be dated 1999.  Great!  Now let's spend enough SBAs to make
> that happen.
> Jim Benfield

This may have been pointed out before, but I like to get SBA's by
buying stamps with too-large bills from the post office vending
machines. These machines give change back in SBA's. I suppose you
could simply put bills in, then void the purchase and get your
bills back as SBA's as well.

However, be careful when you spend them, as it REALLY isn't that
difficult to confuse them for a quarter (and this from a lifelong
numismatist), and it's even easier for clerks to do the same...

Ray Parkhurst

 
 
 

New SBA $1 coins dated 1981?

Post by TomDeLor » Wed, 09 Sep 1998 04:00:00


Quote:
><HTML><PRE>Subject: New SBA $1 coins dated 1981?

>Date: Mon, Sep 7, 1998 17:31 EDT

>I had helped to start a rumor that new SBAs struck in 1999 might be dated
>1981.
>Though I haven't seen much recently on this page, let me lay to rest that
>notion.  While perfectly legal, the Mint said unequivacally on August 12 at
>the
>$1 coin stakeholder's meeting that any new SBAs that might be struck next
>year
>would definitely be dated 1999.  Great!  Now let's spend enough SBAs to make
>that happen.
>Jim Benfield

></PRE></HTML>

Stakeholders?
Sounds like another vampire movie.......
Vlad out
 
 
 

New SBA $1 coins dated 1981?

Post by JCBENFIE » Wed, 09 Sep 1998 04:00:00


This is in response to an e-mail from Mitch:

Mitch,
  Here is what Title 31, Section 5112 (d)(2) says, in part, "However, to
prevent or alleviate a shortage of a denomination, the Secretary may inscribe
coins of the denomination with the year that was last inscribed on coins of the
denomination."
  What appears to be required is express permission by Secretary Rubin -- not
just Phil Diehl.
  Coins can be minted with dates for a future year, but CANNOT be released for
circulation.
  I know that portions of Title 31 have been revised in recent years, so you
may be correct in your recollection that Congressional approval was required in
a certain instance back in the 1960s.
  Jim Benfield

 
 
 

New SBA $1 coins dated 1981?

Post by LECald » Wed, 09 Sep 1998 04:00:00


Methinks we are all tilting at windmills by trying to get SBA dollars in
circulation.  Actually, the purpose of drawing down the stocks to cause a 1999
SBA, is self defeating.

You can pass all the SBA dollars you can and they will either go into the
clerks perso***pocket or wind their way back to the banks to be reissued
again.

So, do NOT circulate the SBA dollar.  Continue to buy them at the PO or, better
yet, by the roll at the bank and rathole them.  This way the ratholed coins are
definately out of circulation and the drawdown from the gov't vaults will rise
severalfold.

Larry Calder
9 out of 10 Farm Animals advise you to eat more CHICKEN

 
 
 

New SBA $1 coins dated 1981?

Post by Infoserv » Fri, 11 Sep 1998 04:00:00


Quote:
>  Here is what Title 31, Section 5112 (d)(2) says, in part, "However, to
>prevent or alleviate a shortage of a denomination, the Secretary may inscribe
>coins of the denomination with the year that was last inscribed on coins of
>the denomination."

Jim,

This is very interesting.  What is the purpose of the date on the coin if its
not to indicate the date minted?  It doesn't make sence to me to issue newly
minted coins with dates in the past (eigh*** +/- years at that).  Did Congress
have any rationale for this that you know of?

Ken