1981 SBAs - Minted again??

1981 SBAs - Minted again??

Post by PFDJ » Mon, 10 Aug 1998 04:00:00



In the feature article of this week's Numismatic News they speculate that if
the Mint does have to re-issue the SBA dollar to meet demand prior to the
minting of the new "golden dollar", they could strike additional 1981s.

Evidently this is allowed by a provision in the coinage act.

My feeling is that this would really tick off a lot of collectors. The 1981
Anthony's were only released in Mint sets and proof sets and therefore are
"relatively" scarce.

Of course the Mint hasn't exactly "protected" the collector in the past. They
recently extended the sales period for the Jackie Robinson Commems and did the
same for the Atlanta Olympic commems. Anybody who had purchased these items
during the regular sales period and thought they had low mintage coins couldn't
have been too happy with the idea of the Mint putting more on the market after
sales were supposedly closed.

Phil DeMayo
Coinmasters 1188

 
 
 

1981 SBAs - Minted again??

Post by JCBENFIE » Mon, 10 Aug 1998 04:00:00


Quote:
>In the feature article of this week's Numismatic News they speculate that if

the Mint does have to re-issue the SBA dollar to meet demand prior to the
minting of the new "golden dollar", they could strike additional 1981s.
Quote:

>Evidently this is allowed by a provision in the coinage act.

>My feeling is that this would really tick off a lot of collectors. The 1981

Anthony's were only released in Mint sets and proof sets and therefore are
"relatively" scarce.
Quote:

>Of course the Mint hasn't exactly protected" the collector in the past. They

recently extended the sales period for the Jackie Robinson Commems and did the
same for the Atlanta Olympic commems. Anybody who had purchased these items
during the regular sales period and thought they had low mintage coins couldn't
have been too happy with the idea of the Mint putting more on the market after
sales were supposedly closed.

Two Comments:

1)  I'll try to remember to ask this question of Mint officials at the August
12 Stakeholder's Meeting (of the new $1 coin) in Washington on Wednesday.  I'll
post the response.

2)  Has legislation passed authorizing an extension of the Jackie Robinson
series??  I thought Rep. Castle was opposed to that idea.  Remember, the Mint
can't make that call itself.

Jim Benfield

 
 
 

1981 SBAs - Minted again??

Post by dgier » Tue, 11 Aug 1998 04:00:00


I thought that the law to extend the Jackie Robinson coins was not enacted
yet.  Did both houses pass it?  I also don't recall the Olymoic coins
getting extended.  When is the closing?

Quote:
> Of course the Mint hasn't exactly "protected" the collector in the past.
They
> recently extended the sales period for the Jackie Robinson Commems and
did the
> same for the Atlanta Olympic commems. Anybody who had purchased these
items
> during the regular sales period and thought they had low mintage coins
couldn't
> have been too happy with the idea of the Mint putting more on the market
after
> sales were supposedly closed.

> Phil DeMayo
> Coinmasters 1188


 
 
 

1981 SBAs - Minted again??

Post by PFDJ » Tue, 11 Aug 1998 04:00:00


Quote:

>> thought that the law to extend the Jackie Robinson coins was not enacted

yet.  Did both houses pass it?  I also don't recall the Olympic coins getting
extended.  When is the closing?<<

The Jackie Robinson extension was added to another bill by Mario Cuomo.
Evidently it has either not been enacted yet or has not yet passed. The Mint
web site still says the program closed July 1st.

The Atlanta Olympic coins were put back on sale last fall. The Mint took out
ads in both COINage and COINS magazines. They also mailed out a brochure
announcing it. The brochure also listed the sales to date of the coins in the
series. Several of the BU dollars had very low sales (as low as 14,000).

They announced they would be selling stock they still had on hand until Dec.
31, 1997. Any remaining after that date would be melted. So it's to late now.

They said that with what they had in stock no BU dollar total mintage would
exceed 95,000. I can't remember the figures for the proofs.

Since I had purchased all of the BU and proof dollars and halves, you can
imagine how I felt when this announcement was made. The Mint was saying, "You
have some silver dollars with very low mintages....oh, by the way, we're going
to sell more."

I am not bothered as much by the extension of the Robinson dollar. The
autorized mintage...200,000...was the lowest of the commem dollars to date. The
Jackie Robinson Foundation was also screwed out of the first million dollars in
surcharges......they went to the Botanic Gardens program.

Phil DeMayo
Coinmasters 1188

 
 
 

1981 SBAs - Minted again??

Post by PFDJ » Wed, 12 Aug 1998 04:00:00


Quote:

>>THe SBA are NOT that scarce, the stamp vending machines in USPS, dispense

them as change.<<

Nobody said  they were scarce. The problem is that they are not being put back
in circulation. The Mint is distributing about 4.9 million per month and that
figure may increase. With approx, 86.6 million in stock they may run out of
them before the new dollar coin is ready to be minted.

As a result they may have to mint more SBA dollars to meet demand.

Phil DeMayo
Coinmasters 1188

 
 
 

1981 SBAs - Minted again??

Post by John Ston » Wed, 12 Aug 1998 04:00:00


Quote:


> >>THe SBA are NOT that scarce, the stamp vending machines in USPS, dispense
> them as change.<<

> Nobody said  they were scarce. The problem is that they are not being put back
> in circulation. The Mint is distributing about 4.9 million per month and that
> figure may increase. With approx, 86.6 million in stock they may run out of
> them before the new dollar coin is ready to be minted.

> As a result they may have to mint more SBA dollars to meet demand.

> Phil DeMayo
> Coinmasters 1188


Simple solution - When the supply of SBA's dries up put the stamp
vending machines in storage so they can't be used anymore, that way no
more SBA's would have to be minted.  Reconfigure the machines to accept
the new dollar coin when it comes out.    

John S.

 
 
 

1981 SBAs - Minted again??

Post by JCBENFIE » Wed, 12 Aug 1998 04:00:00


Quote:
>Simple solution - When the supply of SBA's dries up put the stamp vending

machines in storage so they can't be used anymore, that way no more SBA's would
have to be minted.  Reconfigure the machines to accept

Quote:
>the new dollar coin when it comes out.    

You'll have to do more than lock up stamp vending machines.  Try also 15 major
transit systems (New York, Chicago, LA, for example) and hundreds of vending
locations in a lot of very secure factories, etc.
Jim Benfield
 
 
 

1981 SBAs - Minted again??

Post by PFDJ » Thu, 13 Aug 1998 04:00:00


Quote:

>>Surprising responses to this post.  The original poster said that the 1981

SBA's might be reissued, not that SBA's would.  The key here is the date- 1981-
which were not released for circulation, and are >scarcer than any other dates
minted for circulation of the SBA's.  As I understand it, the 1981 circulation
strikes were available only as part of the mint sets.  No?  Aram.<<

Absolutely correct. In addition to being a page 1 featured article in this past
weeks' Numismatic News, it was also the subject of the editorial.

They didn't claim that 1981s would be issued again, they just pointed out that
the Coinage Act allows the Mint to re-issue coins using the last date (1981 in
this case). The editorial said this would be another broken promise to
collectors who were told back in '81 that the only way they could obtain the
1981 SBAs was to buy proof or mint sets.

The editor was in effect telling the Mint that if they had to re-issue
Susies....make them 1999s.

Phil DeMayo
Coinmasters 1188

 
 
 

1981 SBAs - Minted again??

Post by Buster Hyma » Sun, 16 Aug 1998 04:00:00


What about the poor folks who had invested in "scarce"  CC morgans a few
years ago when the mint announced that they had several "palets" of them and
were going to put them on the market?  Mitch