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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 04/05/2009 : 07:59:46
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Sorry about all of the questions, but: Why does the 2009 Coin Guide sometimes list mintages, while at other times listing distributions? Also, why have some reported mintage numbers on certain previously understood/established coins increased so dramatically (sometimes by almost 100% between 2008 and 2009)?
Shipwrecks? Vault discoveries? Hoards?
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Edited by - starwarsgeek171 on 04/05/2009 08:15:11 |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
 Posted - 04/05/2009 : 08:30:21
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quote:
Originally posted by starwarsgeek171
Sorry about all of the questions, but: Why does the 2009 Coin Guide sometimes list mintages, while at other times listing distributions? Also, why have some reported mintage numbers on certain previously understood/established coins increased so dramatically (sometimes by almost 100% between 2008 and 2009)?
Shipwrecks? Vault discoveries? Hoards?
I have to say that I didn't notice. Are you talking about the 2009 Red Book, or a different book. As far as I am aware, there have been no major discoveries of stockpiles of coins. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/05/2009 : 10:12:37
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| I will post specific example(s)/numbers tomorrow. Official 2009 Red Book. |
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vrbsroma
Penny Collector Member
394 Posts |
Posted - 04/05/2009 : 10:37:46
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| I've got the 2007 and 2009 Red Book. What should I be looking for? Difference in mintages? |
As far as I know, it is stated "In God We Trust" on the US dollar. How can I trust this currency if I do not believe in God?
Possession is nine-tenths of the law.
When I give my two cents, they're always copper! |
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kieblera5
Penny Hoarding Member
USA
859 Posts |
Posted - 04/05/2009 : 12:03:15
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"Note about mintages: Unless otherwise stated, the coinage figures given in each "Distribution" column represent the total released mintage: the original total mintage, minus the quantity of unsold coins. In many cases , larger quantities were minted, but not all were sold. The unsold coins were usually returned to the mint and melted, although some were placed in circulation at face value..."
From the 09 Red Book. |
Democracy is being allowed to vote for the candidate you dislike least.
Never argue with an idiot. They will drag you down to their level and then beat you mercilessly with experience.
Caller number seven gets the Peace Prize!
Get coding tips, tricks, and more at: http://codingmonday.blogspot.com |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 04/05/2009 : 13:37:52
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| Also, note on page 20 of the 2009 Red Book the Mint reports are not always reliable. They admit this and as a good practice you should know that any statistics released by the Mint could, might, should, may, possibly be in error. |
Carl |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/06/2009 : 11:11:54
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Excellent answer re: mintage and distribution (please forgive me, this is my first real move into numismatics, so I have not read the book cover to cover yet).
Also, thank you, JustCarl for the response.
A specific example follows regarding a seemingly major mintage change:
1921 Alabama Centenial (Commemorative Half Dollar)
Bib and Kilby
2X2 on field
-previous 2007 Red Book mintage = 6,006
-recent 2009 Red Book mintage = 15,000+ (that's a big difference).
Thank you. |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 04/06/2009 : 11:27:38
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I understand that mintage figures for the older coins does not really give you good information for actual availability for the coins that are left.
See, when silver was no longer used for US coinage, the hoarding began. Collectors immediately assumed that the low-mintage coins would be the best to begin collecting, so those got pulled out first, and the rest were considered "junk" coins. When silver prices started to vault higher in the early 80's, there was a lot of silver being sent to refiners, coins included. But guess which coins go to the refiners... the old, higher mintage, "junk" silver. All this melting of the old silver effectively reduced the avilability of the more common years. So the ratio of higher mintage to lower mintage coins was reduced. Overall, "availability" was reduced, but relative "rarity" of the low-mintage coins was also reduced.
So, numismatically speaking, obtaining any type of silver coin means that you are getting something is scarce, period. But, assuming that you can look at the mintage per year, and get a good value of coin based on "availability", cannot be done. Nobody knows how many coins were sent to the refiners of each mintage year, so nobody knows just how many are actually available.
Your best bet for 1900's numismatic coins are the peace dollars, walking liberty half, and standing liberty quarters. For 1800's, well, anything is rare, but seated liberty coins in good condition are really sweet... I'm still searching for a decent trade dollar to add to my collection. |
goto the new and improved realcent: http://realcent.org |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/06/2009 : 16:46:37
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I am also a big fan of the Trade Dollars; I have been since I first saw and read about them. Perhaps an 1883 PF-63?
Also, I would still be interested in any comments directly regarding the 100% increase given in the previous post.
Thank you, everyone. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/07/2009 : 00:17:15
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I figure they must have increased the mintage just because I have one of those coins. It's a conspiracy.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 04/13/2009 : 08:15:02
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quote:
Also, I would still be interested in any comments directly regarding the 100% increase given in the previous post.
As I noted previously the statistics on quantities minted of most coins relesed by our Mint are vague and subject to change pending the weather, auto traffic, presidential shoe size, desert rainfall, auto traffic in Times Square New York and/or Walmart sales. 
I would suspect that the Mint, like any organization, does things by estimations. May or may not be true but just what part of our government's statistics are known to be accurate? |
Carl |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 04/13/2009 : 18:10:46
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"presidential shoe size" I'll bet Double-O-bama's shoe size is very large, thus the huge mintage figure increase.
I hope the next president has small feet!
Thank you, justcarl, I will have to learn to take The Official Red Book's numbers with a grain of salt. They are obviously subject to change. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 04/24/2009 : 09:43:02
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As to the Red Book. I just purchased the 2010 edition. Note as usual this is the beginning of 2009 and the 2010 edition has been out for over a month now. I've just started to compare items in this edition and so far it appears that Whitman has attempted to make thier prices a little more respectful. So many say it's the greatest coin book around but ignor the prices completely. They are usually about 20 to 25% over real life. My first comparison was in the Proof sets and many, many prices have dropped compared to previous editions.
As to their reports on mintages, as even they admit, quantities are vague, approximate, possibly just a guess. So if this it basically true and they admit it, why do they come out with quantities like with the 1993D Cent of 6,426,650,571? If one or two got bent and rejected during the process, would that change the last numbers? |
Carl |
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Distribution vs. Mintage Figures?
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