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A significant development is impacting one of my hobbies...

A significant development is impacting one of my hobbies...

A significant development is impacting one of my hobbies...

(OP)
I have a couple of hobbies, but the oldest is that I collect used money. That is, I collect coins. My father got me started when he gave me a bunch of old coins, some that he got from his father. Up until I went to college I worked on it on and off, buying new coins from the bank and occasionally ordering some from coin magazines, but I sort of let to go dormant for several years with my coin books stored at my mother's house. After we moved to SoCal in 1980, I took the collection with me and started to work on it again, but I was still more of an accumulator than a collector until about 25 years ago when I got a lot more serious. Since then I've not missed any new coinage getting mint and proof versions of the coins (I stick to most US coinage but I have a lot of foreign stuff, just not as well organized or cataloged). I've also invested some in filling empty spots in my coin folders and have done pretty good. Now I've never gotten into Gold, but I do have a fair amount of Silver (including several hundred Silver Eagles).

Anyway, it seems that US Mint is about to discontinue the penny. In fact, the coinage of US pennies will cease on April 1, 2023. It's be interesting to see how the Mint handles the sale of these last couple of years of pennies. At the moment, you can buy collector quality coins directly from the Mint including pennies, either by the bag or as part of 'sets' like Proof and Mint sets (I buy at least two of both of these sets each year). While they haven't announced it yet, we have to assume that there will be both Mint and Proof sets for 2022 and 2023 which will include a penny. Now it will be interesting to see at what price they sell these sets. This last year, Mint sets went for $25.25. This included 14 coins, seven from the Denver and seven from the Philadelphia Mint. Proof sets went for $32.00 for the clad coinage, again, seven coins from the San Francisco Mint, and $105.00 for the Silver proof set, again, seven coins from the San Francisco Mint.

The reason that I'm wondering about the price that the Mint will be charging is because out on the net, there is already speculation that these last two years of pennies could bring a premium price to collectors, some suggesting that the mint version of a 2023 penny could sell for $100 or more and the Proof versions will go for even more.

Anyway, the Mint has a subscription service which I'll sign-up for as soon as they make the 2022 Mint and Proof sets available for the program so as to lock in my purchase.

And just for interest, the oldest coin in my collect turns out to be a penny, in this case an 1837 Large Cent:



Which is worth, according to the most recent 'Red Book', $35.00.

Note that I currently have 12,487 coins in my US coin collection, valued at $36,978. And I'm up-to-date as far as 2021 mintage goes. The first of 2022 coins from the Mint will go on sale the first week of January, with the release of the National Purple Heart Hall of Honor Commemorative series, of which I'll be buying the Silver and Clad Proof versions of the coins.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

Does this mean the dollar bill is going to be replaced by a coin?

New Zealand's smallest coin is 10 cents (since 2005), it was a surprise to go to the UK 10 years ago and have to suffer 1 & 2 pence coins that even the beggars wouldn't take half the time.

RE: A significant development is impacting one of my hobbies...

Canada replaced the dollar bill with a coin in 1987.
It featured a picture of a loon and has been called a "Loonie" to this day.
Nine years later, the two dollar bill was replaced with a two part coin that came to called the "Toonie".
When the Toonie first came out, one man came into possesion of a Toonie with the center part missing.
He told a reporter;
"The government ask me to give it back, but I thought;
Right now I have a two part coin with one part missing. If I give it back I will have a two part coin with two parts missing, so I kept it."
Pennies have been gone since 2012.


--------------------
Ohm's law
Not just a good idea;
It's the LAW!

RE: A significant development is impacting one of my hobbies...

(OP)
The US has always had dollar 'coins' and on several occasions, they've issued new coins with the explicit intention of replacing the dollar bill. The first of these dollar coins was the Susan B Anthony Dollars first issued in 1979:



20-years later in 1999, the Mint ceased the minting of the Anthony dollars and declared the effort a failure. Part of the reason was that many people confused it with a Quarter which was close to the same size (Quarter = 24.3mm and the Dollar coin = 26.5mm) and color. But the very next year, 2000, they tried again, with the introduction of the Sacagawea Dollar, which was the same size as the Anthony dollar, but it was a Gold color and had no reeded edges, which Quarters do:



These were minted until 2009 when they were replaced with the more generic named Native American Dollar, which was the same size and color and had the same obverse, but a different reverse, which changed every year. These coins are still being minted, but as of 2011 are no longer being distributed for regular circulation but rather are only available through the Mint for collectors (like me).

And in 2007 the Mint introduced the Presidential Dollar issue four obverse designs a year with face of the Presidents in chronological order of their serving in office. These coins are the same size and color as the previous dollar coins.



And while they continued to mint these Presidential Dollars, they again stopped general release in 2011 and are now only available from the Mint by collectors, either directly or through dealers. Note that Federal law prohibits the likeness of any living person to appear on either stamps or coins/currency. Therefore, we now have to wait for Presidents to die before they issue additional coins in this series. The last one issued was for George H. W. Bush.

And if that wasn't enough, in 2018 the Mint started to issue a totally new dollar coin, the American Innovation series which will ONLY be released as collector coins. And again, they are the same size and color as before. Again four coins a year will be issued commemorating innovations dedicated to each of the states. They have a common obverse but a different reverse for each coin issued:





Anyway, I hope you all enjoyed this rather long post.

BTW, all the images were taken from my collection's database.



John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

UK has given an end date for paper legal tender.

It's now going to be all plastic poly notes. There is only 20 and 50 left.

The Vegans are objecting saying they use animal products to make them.

Then some worker from the royal mint came back and said we did with the paper as well. And they use the same stuff producing bank cards.. And come to think of it coins do as well.

Reporter "so what can Vegans do then?"

" Have a bacon sandwich and be done with it"

RE: A significant development is impacting one of my hobbies...

Quote (JohnRBaker)

...some suggesting that the mint version of a 2023 penny could sell for $100 or more and the Proof versions will go for even more.
People say a lot of things... doesn't mean they're actually going to happen. They're hoping it will happen so they can cash in, same as you... sometimes it's enough to convince everyone it will be true, and then it becomes a self-fulfilling prophecy. Other times it fizzles out and no one remembers. If my crypto did the same every time someone said it would, I'd be uber-rich by now.

All you can do is collect the stuff you like, enjoy the hobby, and cross your fingers it increases in value significantly enough that you feel parting with it for cash is a better deal than staring at it in plastic cases.

I collect (mostly) stamps, BTW... but I do it because I like to look at them (and the collecting part itself is kinda fun), particularly the space and dragon stamps.

Dan - Owner
http://www.Hi-TecDesigns.com

RE: A significant development is impacting one of my hobbies...

When the 1776-1976 money came out, I collected two of each and framed them. 20 years later, they were put away in a box, I was raising 3 kids, lost my job, didn't have much money.
I came home one day and saw my kids eating ice cream, the frame in the trash. I was pissed! My wife didn't see the money as something worth saving.

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

Oh lordy, that's nigh on divorce material there... Imagine if you sold her wedding dress one day without her knowing? Or don't imagine it... bugeyed

RE: A significant development is impacting one of my hobbies...

I finally convinced my wife to get rid of the wedding dress... to her ex... just a few years ago.

Dan - Owner
http://www.Hi-TecDesigns.com

RE: A significant development is impacting one of my hobbies...

When my daughter got married, I asked why not let her wear my wife's wedding dress. She said no.
I told her it just hangs in the closet collecting dust, then I thought...what a great idea! It can collect all the dust and keep it off my clothes.

I should sell it and buy us ice cream.

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

(OP)
Yes, the 1776-1976 Bicentennial coinage included the Washington Quarter, the Kennedy Half Dollar and the Eisenhower Dollar.

In my collection I have the following:

1776-1976 Washington Quarter:

38 - no mint mark (Philadelphia)
115 - 'D' mint mark (Denver)
3 - 'S' mint mark (San Francisco)

1776-1976 Kennedy Halves:

2 - no mint mark (Philadelphia)
29 - 'D' mint mark (Denver)
3 - 'S' mint mark (San Francisco)

1776-1976 Eisenhower Dollar:

6 - no mint mark (Philadelphia)
6 - 'D' mint mark (Denver)
4 - 'S' mint mark (San Francisco)

Note that I still find two or three Bicentennial quarters each year, and of course, they go right into the collection.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

Difficult to find $2 bills anymore. Are they out of circulation?

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

(OP)
I'm one of the counters of our Sunday collection at church and there's at least two or three people who put $2 bills in the collection each Sunday. Last week there must have been six of seven $2 bills.

In my office I have a half-sheet of uncut $2 bills, that I bought when I was at the mint in Washington (where the print currency), and I had it framed and it hangs on the wall in my home office:


December 2021 (Apple iPhone 7)

Yes, they are a bit rare. In fact, there was a story on the news a few years ago where a store clerk called the cops on a guy who tried to buy something with a $2 bill. He thought it was counterfeit. He felt like an idiot when police officer told him that yes, there really was such as thing as a $2 bill.

BTW, in addition to that half-sheet of uncut bills, I've got 25 $2 bills in my currency collection.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

I have 3 $1 bills and one 100 dollar bill, not sure you can buy anything for them today tough. ponder


“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

I tried to purchase something once with a $100 bill.
The clerk said "Can't accept anything larger than $20".
I told him they're the same size.
I got a blank stare, he accepted it. lol

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

My dad used to give me silver dollars and/or two dollar bills as gifts when I was younger -- probably for the rarity gimmick. I haven't spent any that I recall because I still have a few, though none of the silver dollars are old enough to be worth too much more than face value.

Much later when I was dragged to a strip club for a friend's bachelor party I noticed the club would give change in two dollar bills which I thought was pretty clever--although I suppose that could also back fire on the workers tips as well?

RE: A significant development is impacting one of my hobbies...

The $1 bills and the $100 bill is exactly the same size.
That has never been the case with bills or coins in Sweden it's mainly for the blind so they can distinguish between them when shopping.

I think they are to old, I am not sure about the $100 bill though.

“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

(OP)
I was told this story by my father and I heard it in at least one other place, so I suspect that it's true.

My father was in the National Guard before the war (WWII) and during the summer of 1940, his unit was sent down to Alexandria, Louisiana to help refurbish any old Army base, getting it ready as a training base, just in case. Anyway, while he was there, they paid the guardsmen with $2 bills. When asked, he was told that this way when they went into town and spent their money, the local business owners would know where the money came from and this would help overcome some of the objections that the locals were having with this idea that a bunch of Yankees from up north (my father's unit was from Michigan) had 'invaded' their town and they might cause trouble or something. As I said, I'd heard a similar story from another former soldier of that era.

BTW, going back to the comments that BiPolarMoment made, when I took a look at the Wiki entry for $2 bills, trying to confirm my story above, I read this paragraph which basically confirmed both of our stories:

"In the middle of the 20th century, $2 bills were often used for betting on horse racing, tips at strip clubs and for bribery when politicians wanted votes (though this is most likely an urban legend), and so acquired a negative reputation. During World War II and later, US Servicemen were frequently paid with $2 bills, and as a result the notes often saw use at canteens, USO clubs, post exchanges and commissaries."

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

I have a couple of silver certificates given to me as a birthday present by someone I dated decades ago. The only thing that pops out on initial inspection is the use of blue ink instead of green in a few key spots (seal, serial number, etc.).

Dan - Owner
http://www.Hi-TecDesigns.com

RE: A significant development is impacting one of my hobbies...

In recent years, I've been trying to collect all of the currency that I possibly can. I have to send a lot of it back to the Government though.

Brad Waybright

The more you know, the more you know you don't know.

RE: A significant development is impacting one of my hobbies...

To JohnRBaker: While I am thoroughly enjoying learning about yours and others coin collections, just wanted to mention the US penny isn't being discontinued yet. Note the month and day when production is supposed to cease. Does that date on the calendar have any other significance?

I hope this doesn't stop discussion on coin/dollar/stamp collecting, it really is fascinating.

RE: A significant development is impacting one of my hobbies...

(OP)
Yes, I've wondered that same thing (because of the date given for the end of production), and you may be right since I've not yet seen anything on the US Mint's website. Time will tell. That being said, there has been discussion about getting rid of the penny for years, including amendments that various members of Congress have tried, and failed, to attach to various bills.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

Quote:

That has never been the case with bills or coins in Sweden it's mainly for the blind so they can distinguish between them when shopping.

Canadian plastic bills have Braille bumps on them for that purpose - not that I can read them, but they're there for those who can.

CR

"As iron sharpens iron, so one person sharpens another." [Proverbs 27:17, NIV]

RE: A significant development is impacting one of my hobbies...

Well I was thinking that when I wrote it, why isn't there Braille bumps on them. smile
Ours you can feel the relief of the text that says what the value is.

I was a bit confused whit this papper vs plastic thing, I thought that bills earlier and ours still are made of cotton. ponder
You can wash them and iron them if needed. winky smile

Made me think of the movie Bound, where they got blood on the bills after cutting some fingers off, and then they hade to put all the stolen money in the washing machine and then put them up on strings in the whole apartment to dry them when the police came knocking. lol

I think that one other reason for the different sizes of our bills are that they are more difficult to counterfeit by taking a low value bill and bleach them and reprint them with a higher value and get the same feeling which isn't as paper.
You can not do that when low value bills are smaller the high value ones.
We also have a lot of features on ours too making them almost impossible to counterfeit.

“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

Quote (crshears)

Canadian plastic bills have Braille bumps on them for that purpose - not that I can read them, but they're there for those who can.

They actually decided that braille was too sensitive to being damaged to be used on the bills, so it's a different but similar system that's a bit more robust.

RE: A significant development is impacting one of my hobbies...

Quote (RedSnake)

You can wash them and iron them if needed. winky smile

I don't remember if he irons them (I think so), but I do have a friend that intentionally washes his bills.

RE: A significant development is impacting one of my hobbies...

The only time that happens unless it's by mistake has been when you couldn't get any decently clean and unwrinkled ones and you wanted to give them away as a birthday present, mostly we just ironed them, this was before there where gift cards.

“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

He's a germaphobe (carried hand sanitizer around before it was cool) -- so it's not really surprising.

RE: A significant development is impacting one of my hobbies...

It's a pity the twony wasn't called the doubleloon.

My glass has a v/c ratio of 0.5

Maybe the tyranny of Murphy is the penalty for hubris. - http://xkcd.com/319/

RE: A significant development is impacting one of my hobbies...

In the US, if you want unwrinkled bills, you can go into most banks (your bank) and ask for $2 bills.
For some reason, many retailers don't like $2 bills, as the typical bill holders don't have a place for them.
They place them below the tray with the bigger bills ($50, and $100). Or just get $1 coins.

The problem is younger kids working at so many stores have never seen $2 bills, or dollar coins, and may assume they are fake.

RE: A significant development is impacting one of my hobbies...

Quote (ACtrafficengr)


It's a pity the twony wasn't called the doubleloon.

It is often called a doublooney.

--
JHG

RE: A significant development is impacting one of my hobbies...

(OP)
I just bought some 2022 Silver Eagle 'Dollars' for my collection (actually just one for the collection and the rest as silver bullion). When the package arrived today I noticed something interesting on the shipping label. The company I bought the coins from is named 'Monument Metals' but the return address on the package was listed as 'MM Machine Parts', which I assume they did that to limit the chances that someone might steal them. I mean, if it was labeled 'Monument Metals' someone might suspect that they were a bullion dealer.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

I suggest using Google street view to witness the headquarters.

RE: A significant development is impacting one of my hobbies...

(OP)
This is what the street view looks like:

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

Not much of a business...

I'd guess the name has more to do with taxes than theft.

RE: A significant development is impacting one of my hobbies...

(OP)
The actual building is a small office in a row of commercial 'spec' buildings. The 'street view' of the actual building was blocked by what looked like an earthen berm. I tried to move around to the parking lot side but apparently there was no 'street view' from that side of the building. Note that this was located in Maryland.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

I am guessing you are going for Black Jack the only game that the player have a slight advantage against the house.
Not much of a gambler but the few times I decide to play it is Black Jack. smile
I guess if you are really good, Poker might work too.

“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

(OP)
Yes, when in Vegas, I play Black Jack. My wife prefers the slots.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

I've only been to Vegas twice and only once did I gamble. However, I went with no expectations of a return (I budgeted losing $1k) so I didn't really care about the disadvantage I was at--if I cared I wouldn't have gone in the first place (it was a Bachelor party trip, I didn't have a choice in location.) I mostly spectated--but I did play some craps; that seemed to have some pretty quick drink service. Although considering I tried to get on the wrong plane out maybe it was a bit too quick. dazed

RE: A significant development is impacting one of my hobbies...

(OP)
The first rule of Las Vegas, never walk into a casino with money in your pocket that you're not willing to lose (and leave your credit cards locked in the safe in your room). Whatever I've lost in Vegas, I've always considered it as nothing more than an entertainment expense.

John R. Baker, P.E. (ret)
Irvine, CA
Siemens PLM:
UG/NX Museum:

The secret of life is not finding someone to live with
It's finding someone you can't live without

RE: A significant development is impacting one of my hobbies...

Yes you need to decide how much you are willing to loos.
I have a bit of a strange system for that. smile
I can decide to lets say spend 10 chips, so when I play I have ten chips on the table if there is more then ten chip there I put the others in my pocket until I spent the ones I have on the table.
Sometimes I have no chips in my pocket when there is zero on the table and sometime a lot, then I go and buy some beer. cheers
Or a matter of fact if it is zero I go buy some beers anyways. lol

“Logic will get you from A to Z; imagination will get you everywhere.“
Albert Einstein

RE: A significant development is impacting one of my hobbies...

I was in Vegas this past weekend. Quick trip, visited daughter's family.
Traffic there and back was hell. I live in OC.
6.5 hrs there, 5 hr home. The trip home was one of the worst wind storm I've driven in. Of course, most drivers are going 100mph in it, stupid.
Saw the aftermath of one pickup truck go off and flip a couple times.
Next time I'm flying.

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

Quote (ctopher)

Next time I'm flying.

... but not the same way as that truck, I presume.

RE: A significant development is impacting one of my hobbies...

No, I'll go the less expensive way.

ctopher, CSWP
SolidWorks '19
ctophers home
SolidWorks Legion

RE: A significant development is impacting one of my hobbies...

Bill’s story about Loonies and Toonies reminds me of the time I first learned about them…

I was in Canada buying food from a street stand
I think it was a hot dog, and the cost was a buck and some change.
So I paid with a five.
My change was some coins.
That didn't seem like enough change, so I reminded the vendor I had given him a five.
The vendor responded "I know, I gave you a loonie and a toonie!"
My response was a predictably dumbfounded..."What?!?"
Then I had to look carefully at what was in my hand while he explained it to me.
It was then that I heard some classic exasperated french-language rumblings from someone in the line behind me… “Les Americains!”.


=====================================
(2B)+(2B)' ?

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