Comments on: Commemorative Coins Reform Act Seeks Surcharge Ban to Private Entities

By: Joe

Joe — Mon, 08 Oct 2012 01:23:39 +0000

Whether we like it or not, their not going to make the coin $10 cheaper. The ten bucks is going somewhere.

By: Munzen

Munzen — Sun, 07 Oct 2012 21:40:40 +0000

“… forking over coin premiums to pay down govt debt is just a symbolic drop in the bucket with a publicly-admitted $16 trillion deficit.”
So true. Both candidates are trumpeting ‘finding millions in waste and fraud’ and ‘imposing minor fee increases’ when as you noted the actual hole is maybe 10^5 times as big. Ten bucks out of everyone who buys a commemorative coin is sure gonna take a whack at the debt, right?

Maybe once they kill PBS the government could raise funds by selling Big Bird Burgers.

By: paul wappingers

paul wappingers — Sun, 07 Oct 2012 14:14:36 +0000

I’ve got a few questions about these “surcharges”. I’ve always wondered if these monies were going to non-profit orgs? Also, suppose a collector doesn’t want to donate this “surcharge”? And if he or she does, how can it become tax deductable?. Now the pols want to use the monies to pay down the deficet. Is this a federal sales tax? Is it part of the total taxes paid to the feds for IRS purposes?. These pols are a true cancer to our society. Thats all I got. Thanks

By: Kevin

Kevin — Sun, 07 Oct 2012 05:02:43 +0000

Still, forking over coin premiums to pay down govt debt is just a symbolic drop in the bucket with a publicly-admitted $16 trillion deficit. The actual deficit is likely multiples of that, given unfunded liabilities of Social Security, Medicare and the like. Ironically, much of the financial problem was caused by the failure to remember that only ‘gold and silver coin’ are genuine money, not paper money and not electronic money ‘printed’ from thin air. So sad.

By: Munzen

Munzen — Sat, 06 Oct 2012 22:21:28 +0000

“How many.5 star generals were there in the US military’s history? I an only remember three Eisenhower, McAuthur [SIC], and Pershing.”

Sam, a quick Google check says there were 5 five-star generals, all during WWII: Eisenhower and MacArthur as you noted, plus Omar Bradley, George C. Marshall, and Henry “Hap” Arnold. The first four men were RA (regular army) while Arnold commanded the AAF.

Pershing held the special rank of General of the Armies, the same rank as that posthumously conferred on George Washington.

Now back to coins.

By: jim

jim — Fri, 05 Oct 2012 02:02:14 +0000

The surcharges have basically remained the same – $10 for silver coins, $35 for gold coins, since 1997 anyway (didn’t check any further back). Considering inflation and the rising prices of metals, the surcharge is one thing that has remained basically constant throughout the years. Still, I think it’s an expense we collectors can do without.

By: Jan

Jan — Wed, 03 Oct 2012 19:04:57 +0000

good points, all…. hasn’t congress got more urgent business than proposing coin subjects? seems that’s about all they ‘ve accomplished lately.
yes, commems are getting too expensive, and the subjects are of interest to only a very small audience… how many more military themed coins are needed?
I have several silver commems but there are only so many most of us can afford.

By: Homer

Homer — Wed, 03 Oct 2012 17:01:00 +0000

How are minting of coins using taxpayer resourses when the mint is funded by it’s own activities? So, let’s eliminate that part of all this. It starts out that money goes towards the deficit. Then it changes to go to the General Fund and is unrecorded and the spending increases as a result of the new source of revenue. Then surcharges get increased to the point collectors won’t tolerate it as too much of a good thing is never enough. Pet projects to certain districts brings up another issue with commermoratives the way they are currently done. I see collectors as being the loser in all of this regardless of what happens. It kind of reminds me of the lottery. It is a certain group of people being taxed by choices they make. Eventually, collectors are going to realize they are being taken advantage of and won’t put up with it anymore.
All these collectible products ultimately are only worth melt unless mintages are really low. The best place to buy modern mint stuff is at a place that deals with bullion. It turns out the pretty packaging isn’t that valuable after all.

By: Tom

Tom — Wed, 03 Oct 2012 15:40:23 +0000

Sounds like a tax increase to me, and those politicians signed a pledge not to increase taxes. Keep you political hands out of my hobby.

By: Cincinnatus

Cincinnatus — Wed, 03 Oct 2012 14:55:03 +0000

Think about NFL and the MLB are getting coins when these are multi-billion dollar corporations that certainly don’t need money from these surcharges.

Mint coins have become overpriced and the designs are based on a committee – and you see what that gets us. I no longer by modern mint products – they are a waste of money.