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Question on Dollar coins



 
 
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  #1  
Old June 16th 10, 08:48 PM posted to rec.collecting.coins
Bob-tx
external usenet poster
 
Posts: 23
Default Question on Dollar coins

This is not a collecting question, but I am curious.

Since our folding money says, "Federal Reserve Note", are dollar
coins and for that matter all currently modern coins controlled by
the Red Reserve?

Bob-tx


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  #2  
Old June 16th 10, 08:51 PM posted to rec.collecting.coins
Michael Benveniste[_2_]
external usenet poster
 
Posts: 228
Default Question on Dollar coins

"Bob-tx" wrote:

Since our folding money says, "Federal Reserve Note", are dollar coins and
for that matter all currently modern coins controlled by the Red Reserve?


Short answer: No.

Long answer: There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of circulating
U.S. coinage.
-- The Mint sells some coins directly to the public. Normally, they
charge a premium for this service, but for dollar coins, they offer
a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
the qualifications for which are found he
http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to purchase
and resell the 5-ounce "Silver Bullion Investment Product" mandated
by the 'America's Beautiful National Parks Quarter Dollar Coin Act
of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." Sometimes, it was even done legally.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain


  #3  
Old June 17th 10, 12:06 AM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Question on Dollar coins

On Jun 16, 2:51*pm, "Michael Benveniste" wrote:
"Bob-tx" wrote:
Since our folding money says, "Federal Reserve Note", are dollar coins and
for that matter all currently modern coins controlled by the Red Reserve?


Short answer: *No.

Long answer: *There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of circulating
* *U.S. coinage.
-- The Mint sells some coins directly to the public. *Normally, they
* *charge a premium for this service, but for dollar coins, they offer
* *a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
* *the qualifications for which are found he
* *http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to purchase
* *and resell the 5-ounce "Silver Bullion Investment Product" mandated
* *by the 'America's Beautiful National Parks Quarter Dollar Coin Act
* *of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." *Sometimes, it was even done legally.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. *It is held in reverence. *It settles
everything. *Some think it is the voice of God. -- Mark Twain


Perhaps I am wrong, but somehow I don't think this poster realizes the
question being asked.

oly
  #4  
Old June 17th 10, 10:42 AM posted to rec.collecting.coins
Bob-tx
external usenet poster
 
Posts: 23
Default Question on Dollar coins


"Michael Benveniste" wrote in message
...
"Bob-tx" wrote:

Since our folding money says, "Federal Reserve Note", are dollar
coins and for that matter all currently modern coins controlled
by the Red Reserve?


Short answer: No.

Long answer: There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of
circulating
U.S. coinage.
-- The Mint sells some coins directly to the public. Normally,
they
charge a premium for this service, but for dollar coins, they
offer
a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized
Purchasers,"
the qualifications for which are found he
http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to
purchase
and resell the 5-ounce "Silver Bullion Investment Product"
mandated
by the 'America's Beautiful National Parks Quarter Dollar Coin
Act
of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various
proverbial
"side doors." Sometimes, it was even done legally.

--

Interesting, I think. Appreciate the info'
Thanks, Bob-tx


  #5  
Old June 17th 10, 06:51 PM posted to rec.collecting.coins
MJKolodziej
external usenet poster
 
Posts: 246
Default Question on Dollar coins


"oly" wrote in message
...
On Jun 16, 2:51 pm, "Michael Benveniste" wrote:
"Bob-tx" wrote:
Since our folding money says, "Federal Reserve Note", are dollar coins
and
for that matter all currently modern coins controlled by the Red
Reserve?


Short answer: No.

Long answer: There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of circulating
U.S. coinage.
-- The Mint sells some coins directly to the public. Normally, they
charge a premium for this service, but for dollar coins, they offer
a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
the qualifications for which are found he
http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to purchase
and resell the 5-ounce "Silver Bullion Investment Product" mandated
by the 'America's Beautiful National Parks Quarter Dollar Coin Act
of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." Sometimes, it was even done legally.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain


Perhaps I am wrong, but somehow I don't think this poster realizes the
question being asked.

oly

Does Red Reserve = Fed Reserve?
mk


  #6  
Old June 18th 10, 12:27 AM posted to rec.collecting.coins
oly
external usenet poster
 
Posts: 3,111
Default Question on Dollar coins

On Jun 17, 12:51*pm, "MJKolodziej"
wrote:
"oly" wrote in message

...
On Jun 16, 2:51 pm, "Michael Benveniste" wrote:





"Bob-tx" wrote:
Since our folding money says, "Federal Reserve Note", are dollar coins
and
for that matter all currently modern coins controlled by the Red
Reserve?


Short answer: No.


Long answer: There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.


-- The Federal Reserve distributes the vast majority of circulating
U.S. coinage.
-- The Mint sells some coins directly to the public. Normally, they
charge a premium for this service, but for dollar coins, they offer
a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
the qualifications for which are found he
http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to purchase
and resell the 5-ounce "Silver Bullion Investment Product" mandated
by the 'America's Beautiful National Parks Quarter Dollar Coin Act
of 2008.'


In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." Sometimes, it was even done legally.


--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain


Perhaps I am wrong, but somehow I don't think this poster realizes the
question being asked.

oly

Does Red Reserve = Fed Reserve?
mk- Hide quoted text -

- Show quoted text -


Red-ink, maybe.

oly
  #7  
Old June 19th 10, 08:16 AM posted to rec.collecting.coins
Jass[_2_]
external usenet poster
 
Posts: 20
Default Question on Dollar coins

On Jun 16, 12:51*pm, "Michael Benveniste" wrote:
"Bob-tx" wrote:
Since our folding money says, "Federal Reserve Note", are dollar coins and
for that matter all currently modern coins controlled by the Red Reserve?


Short answer: *No.

Long answer: *There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of circulating
* *U.S. coinage.
-- The Mint sells some coins directly to the public. *Normally, they
* *charge a premium for this service, but for dollar coins, they offer
* *a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
* *the qualifications for which are found he
* *http://www.usmint.gov/consumer/index...AmericanEagles
-- (Near future) The National Park Service has the right to purchase
* *and resell the 5-ounce "Silver Bullion Investment Product" mandated
* *by the 'America's Beautiful National Parks Quarter Dollar Coin Act
* *of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." *Sometimes, it was even done legally.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. *It is held in reverence. *It settles
everything. *Some think it is the voice of God. -- Mark Twain



Theres also the back-back door model:

The Panama balboa. Identical in value and size as american currency
(the country uses dollar bills but makes their own coins)
theoretically, they could circulate in american with no issue. I
actually got one in change the other day
  #8  
Old June 19th 10, 04:57 PM posted to rec.collecting.coins
Michael Benveniste[_2_]
external usenet poster
 
Posts: 228
Default Question on Dollar coins

"Jass" wrote:

Theres also the back-back door model:

The Panama balboa. Identical in value and size as american currency
(the country uses dollar bills but makes their own coins)
theoretically, they could circulate in american with no issue. I
actually got one in change the other day.


I'm not sure if the U.S. Mint ships coins directly to foreign
countries directly or if they get there via the Federal Reserve
System, but one of the very few times I've received a brass buck
in change was in Bermuda. The Bermuda dollar coin is similar in
color and size and is at par with the U.S. dollar.

--
Mike Benveniste -- (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain
 




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