Tweet
The gov accounting always says the mints make a profit. A private company would go bankrupt if they were producing warehouses full of stuff (they still have SBA dollars stored) that nobody wanted and they had to store it and didn't stop making more. Same with all the mint products, they can claim a profit on them based on their accounting. They have pensions, healthcare, monumental buildings and even require time for congress to approve each coin design.
If they dropped the dollars and cents and all the mint NCLT products except for quarters, nickels, dimes and a proof and mint set of those real circulating coins they could probably use only one mint and less workers and save the taxpayers a lot of money. The rest of it is like a public works project that employs people but not a very useful way to spend tax money. Better if they built infrastructure that is truly needed.
It's also made it messy to collect coins, you need to decide where to focus. If you tried making a full collection of everything the mint offers each year it's overwhelming. Collectors often look at mint products based on number made and say "there are less of these than the S-VDB cent so they will be rare". They might be rare but a rare NCLT is not the same as a rare regular coin. (not saying you can't make money on them if you buy and sell when hot) That's why I only collect normal coins used for commerce.
If they dropped the dollars and cents and all the mint NCLT products except for quarters, nickels, dimes and a proof and mint set of those real circulating coins they could probably use only one mint and less workers and save the taxpayers a lot of money. The rest of it is like a public works project that employs people but not a very useful way to spend tax money. Better if they built infrastructure that is truly needed.
It's also made it messy to collect coins, you need to decide where to focus. If you tried making a full collection of everything the mint offers each year it's overwhelming. Collectors often look at mint products based on number made and say "there are less of these than the S-VDB cent so they will be rare". They might be rare but a rare NCLT is not the same as a rare regular coin. (not saying you can't make money on them if you buy and sell when hot) That's why I only collect normal coins used for commerce.
Maybe the NCLT (non circulating legal tender) is what has kept things at the mint afloat this long? I am just guessing but seems to me that that is where the money is made, not after the NCLT leaves the mint. I'm just basing that upon what I have seen non error/variety proof coins sell for, so I may be way in left field... just appears that way.
You're always educating me Jim!
Be verwy verwy quiet... I'm hunting coins!!! 
Comment