MINT ENDORSES PRIVATE COINAGE WITH ITS SURPLUS DIES

The U.S. Mint announced today that it will begin selling slightly used, still serviceable coin dies for sale to the public. It is a plan to greatly increase the public awareness of American coins while still adding to the sale of numismatic items from the U.S. Mint. In effect it endorses a private coinage.

The provision calls for a schedule of cent dies for sale at $1,000 each ranging up to $10,000 for dollar dies. Only one side will be allowed to be sold to one person. The buyer may be able to take that die to a private mint and have a companion die made with images, and inscriptions of his own choice, creating a truly democratic, semi-private American coinage

Further -- and this is important if the person plans to circulate the new coins-- it must put the full amount of metal composition's value into the struck coin as its face value. Profit making on these coins, called seignorage, will not be allowed under the Obama administration.

It is estimated the cents and nickels will be smaller than they are now because of the their alloy costs., However quarters and half dollars will be much larger if struck in the same alloy.

Mint spokesman Larry Franklin stated that the Mint will take great pains not to sell an obverse and a reverse of the same denomination to separate people in the same state, as the possibility of them joining forces with their dies and striking a coin much like one from the Mint. This would continue to remain illegal, he stated.

Oh, wait isn't Monday April 1st?

	NBS (coinbooks.org) Web