Mint Plans Huge Output Reduction
 

The U.S. Mint isn't about to tell its workers in Philadelphia and Denver to take a six-month vacation, but it could judging from the coin demand target it is aiming for in 2009.

The Federal Reserve System has placed orders for just 3 billion coins in 2009, down over 70 percent from the 2008 production level of 10.1 billion.

With approximately 1.2 billion coins struck already in the first three months of the year, that leaves eight months into which to divide production of just 1.8 billion coins. In the year 2000 the Mint was striking more than that per month.

The Mint says it will build a coin inventory, but unless the Treasury plans to stockpile the current commemorative Lincoln cents as it once did Morgan silver dollars, with its current business approach, it is hard to envisage the Mint going too far beyond projected coin needs.

Current workers, though, will embark on a six-month productivity maintenance effort that will assure future capacity. The Mint will also undertake capital improvements and maintenance that would be difficult to do with presses operating at a more normal pace.

A hiring freeze also has been imposed.

Already there is a scramble by collectors to acquire 2009 pieces because of their perceived scarcity. These target can only increase that perception.

http://www.numismaster.com/ta/numis/...ArticleId=6642

Re: Mint Plans Huge Output Reduction
 

09 eagles scarcity?

yes that is a perception

interesting article, thanx

Re: Mint Plans Huge Output Reduction
 

I just wish I was a fly on the wall at the head Director meetings with top staff. My guess (read that again MY GUESS - MY HUNCH) is that the future of MOST US MINT precious metal coins NUMISMATICALLY is in discontinuation.

The US govt. as most world govts. like Russia and old dictorial nations allow NUMISMATIC coins to be kept by the populations. It's rather like a unnusal trait among nations to leave the coins collected alone to protect their FUTURE their historical future for the generations to come. So if they don't make them they don't have to worry about the collectors having ANY. Kinda like the old real estate deals in the past where the last one in slammed the door on the rest to really up the prices - in a way. I hope you have wisdom and get the JIST!

If they don't make the coins like the certain stopages of the US Mint 1804 (hense the 2.4 million dollar coin auction recently for a $1 silver coin) until the mid to late 1830s. 30 years plus.

So historically the US mint could easily stop for 20 something years while gold silver platinum hit UNBELIEVABLE highs in terms of the currency being already made 20 times more than it was in 1971 - 20 times is a reason why a cup of coffee at Winchell's with a donut was about 20 cents then - now around $4.00, right? Bread was 19 cents a loaf back in the late 1960s -try to buy one for that now! :ok:

I wonder if gold can hit $5,000 to $50,000 an ounce depending upon the panic at the FED like the health department PANIC over 140 swine flu cases? :signs14:

The Chinese sign for CRISIS is also the same for OPPORTUNITY! :signs14:

It's real hard to know the future - but it's real easy to follow the trend. The trend is your friend - and the trend is that the only ONE ounce gold coin available NUMISMATICALLY is the one UHR and it's ON RATION one-to-a-stinkin'-address, right?

They are making hundreds of thousands extra of the one-ounce BUSINESS strike Eagles for the monster boxes - however - I just wonder how long?

Re: Mint Plans Huge Output Reduction
 

Who's talking about 09 Eagle scarcity? The article is all about the mint coins, not bullion - thus pennies, nickels, dimes, quarters and dollars.

Mint Plans
 

.
.
. this entire article says nothing. just a collection of meaningless sentences.
almost like a US News and World Report article.

Re: Mint Plans
 

Well first they deny it, they they belittle it, and then they admit it and shut it down. :goodnight:dontknow::hahaha::fan:

Re: Mint Plans Huge Output Reduction
 

HS how dare ypu forget about the wonderful spouse coins. Arent those numismatic coins :111:

Re: Mint Plans Huge Output Reduction
 

My guess is this article is talking about regular business strikes, although they have reduced production on bullion items as well.

Probably due to the weakened economy and americans dumping their coin jars back into circulation.

So they're saying that if you can get your hands on uncirculated 2009 coins like the log cabin & whatnot, those might be worth something to someone. $25 boxes of log cabins are selling for 4-5X face on Ebay.

Re: Mint Plans Huge Output Reduction
 

Convicted :36_1_32v: - but, in defense I did mention ONE OUNCE coins - those little pain in rear :36_1_30: spouses are 1/2 ounce - I believe. :111::111::36_3_12:

Besides that their sales are like the $1 coins with 8-sides - something to make a lot of and sell just a LITTLE. A Govt. make work job, right?

Re: Mint Plans Huge Output Reduction
 

Nobody is much leaving their homes they are broke and each state has an average of 3 cases of swine flu.

Maybe they'll do what Egypt did - kill all their pigs. :10_1_19: Sadly I'm glad they did not name it DOG FLU! :clap2::36_3_12:

BUY silver PROOF coins.

Re: Mint Plans Huge Output Reduction
 

We're all using plastic to pay now days. My change jar fills up VERY slowly these days.
Not much need to make more nickles...

Re: Mint Plans Huge Output Reduction
 

Speak for yourself. I never use plastic, as I prefer not to have all of my purchases monitored by Big Brother. My coins come in at a steady pace.

Re: Mint Plans
 

Re: Mint Plans Huge Output Reduction
 

The first thing they'll shut down is precious metal coins. CLOSE right now with only a few allowed out ONE by rationing, I believe.

:Surrender::hahaha::hahaha::hahaha::ok:

Re: Mint Plans Huge Output Reduction
 

The mint just shipped me a few of those SILVER quarter sets (The TERRITORIES like Washington, D.C. & P.R.) I ordered a few weeks back; they EVEN shipped them TODAY - SUNDAY.

I'm impressed. Now if they'd just let me slide one more UHR through the red-tape....

:5_1_120::5_1_120::5_1_120:

Re: Mint Plans Huge Output Reduction
 

I'll take a guess that part of it has to do with the proliferation of change counting machines.

My credit union has one in each branch. And most of the grocery stores I go into seem to have one of those Coinstar machines.

These make it much easier to cash in change. Couple that with inflation, people cashing in their change more often to make ends meet.

A lot more change must be making back into the system as opposed to sitting around in jars or drawers waiting to be rolled up when one is was really desperate for cash.

Re: Mint Plans Huge Output Reduction
 

Yes, the spouse coins are 1/2 oz. Re: your other comments, only in the first year of issue (2007) did they make a lot and sell a little - they made 20,000 unc and proof of each release but sold around 1/4 that amount, so starting in 2008 they made them to order, like the UHR, so the first spouse issues from 2008 on have very low mintages (jackson and van buren coins at or under 4000 each for unc). And like the UHR, they can only make them during a set time, after which they can't mint any more, which may mean higher premiums in the years to come. I think the first spouse coins may make smart numismatic investments because of their low mintages, you just gotta make sure you get the pretty ones (some of those first wives were pretty ugly!!!).

Re: Mint Plans Huge Output Reduction
 

a bit off topic..... but does anyone recall the conversion of coins away from 90% silver? was there an announcement? was it considered big news? just curious.

Re: Mint Plans Huge Output Reduction
 

it went something like this........

Re: Mint Plans Huge Output Reduction
 

Re: Mint Plans Huge Output Reduction
 

I'm rather conservative so...........

The COIN guys got it. Back then I worked both as a grocery manager (19 year old) and also soon afterward a pari-mutual manager (Inglewatts, Santa Anita, Del Mar, Pomona, and later Los Alamitos - CA Racetracks).

Some of the track pari-mutuel ticket sellers would ask us to save them the SILVER especially the dollars - which I would. I coulda/woulda/shoulda saved perhaps a bag of silver between the grocery & race tracks over a SHORT two to three year period. But back then money was valuable and you needed it to pay the bills. However, The SILVER coins JUST keep disapearing (real silver coins) REALLY slowly. And then like GRISHAM'S LAW the GOOD money was gone (NADA) and the phoney CLAD tokens were there. However, in the meantime - First the sneaky government tried 40% silver halves - then nada.

WE trusted the government back then - but the Vietnam War, Kent State, Love-Ins, Hippies, Drugs, and Civil Rights shook things up a BIG BIT. Kinda rhymes with this time via the same cheesy media, Wars, Reverse Ciuvil Rights, bailouts, piggie dealie, love-ins on TV & Movies, Internet, the shady folks in the crime houses (congress, court, and white).


This CLIMATE reminds me of 1965 in May before the WATTS RIOTS in L.A. in summer of 1965. It was crazy then I was picking up flowers at 10th and Wall Street. And driving down the Harbor Freeway toward Huntington Beach July 2nd or 3rd - 1965 - and everything was ON fire from the view up on the road. Down below Broadway was all up in smoke - hot and muggy and real stinky - a real mess. Keep your tank at least half full - be ready to run if you see a crowd - and have a few things in the car for extended stays - don't depend upon the system because they'll be busy - protect yourself - remeber the Korean's with SNIPER RIFLES on the housetops in 1992 Los Angeles they were the only ones to keep their neighborhoods' safe. Know when to hold 'em know when to fold 'em know when to walk away - and for GOODNESS sake learn when to RUN!

Hope that helps. :signs14:

Re: Mint Plans Huge Output Reduction
 

is this related to people using ATM cards and the economy contracting, there's just less demand for coins ?