As shown on the previous 3 pages of this gallery, U.S. Mint Director Ed Moy isn't one to shy away from tough questions. He seems to be genuinely interested in listening to the coin collecting community, and in guiding the Mint towards goals that serve the collector community. I was a little surprised, though, that he had no information about the new Proof process being used on the Presidential Dollars. The coins are quite unattractive under magnification, and I've even wondered if the frosty portion of the coins is even coming from the dies any more! I say this because I've seen photos of Presidential Dollar Proof error coins where the frosty part seems to be in the wrong places even though you can see that the raised devices are correctly placed. (Note how the rim of this Proof Adams Dollar seems to be struck normally, but the frosty part is off center.) Plus, the frostiness looks all wrong under magnification, like maybe it was being done with a laser or something.
Even though Moy didn't have any information about the new Proof process, he told us about some of the challenges the Mint is facing with the Cent and Nickel coins. The Cent is costing the Mint 1.4 cents each to make right now, and the Nickel is costing anywhere from 8.5 to 10 cents each to make. (The Nickel is 75% copper, and copper prices have been fluctuating wildly this past couple of years.) Although the Mint would love to get these costs under control by making the coins out of some less expensive metals, Moy told us that the Mint cannot requisition bids for this without Congressional approval.
Someone asked if we would begin seeing steel coins soon, and Moy told us that this was unlikely because steel is too easy to counterfeit. Someone else asked if the Cent was being discontinued after the 2009 commemorative pennies are issued, and Moy said it was too soon to know.
Just when everyone thought we might make it through a Coin Collectors' Forum without someone asking The Question, someone asked, "Can you tell us anything more about the Wisconsin Extra Leaf Quarters?" Everyone in the room laughed, including Moy, who admitted that he had nothing new to report, nor would we ever be likely to get to the bottom of what happened, but Moy said he'd keep trying.
Even though Moy didn't have any information about the new Proof process, he told us about some of the challenges the Mint is facing with the Cent and Nickel coins. The Cent is costing the Mint 1.4 cents each to make right now, and the Nickel is costing anywhere from 8.5 to 10 cents each to make. (The Nickel is 75% copper, and copper prices have been fluctuating wildly this past couple of years.) Although the Mint would love to get these costs under control by making the coins out of some less expensive metals, Moy told us that the Mint cannot requisition bids for this without Congressional approval.
Someone asked if we would begin seeing steel coins soon, and Moy told us that this was unlikely because steel is too easy to counterfeit. Someone else asked if the Cent was being discontinued after the 2009 commemorative pennies are issued, and Moy said it was too soon to know.
Just when everyone thought we might make it through a Coin Collectors' Forum without someone asking The Question, someone asked, "Can you tell us anything more about the Wisconsin Extra Leaf Quarters?" Everyone in the room laughed, including Moy, who admitted that he had nothing new to report, nor would we ever be likely to get to the bottom of what happened, but Moy said he'd keep trying.