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Coins |
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I began collecting coins about two and a half years ago. Coin collecting was something I had always been interested in, but I had never taken the plunge. A couple of Christmas gifts, including a 2000 US mint set, got me rolling. I am extremely low budget for the foreseeable future, but my collection is slowly expanding. |
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A Coin I Will Never Own |
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The only known 1933 Double Eagle recently sold for $7.6 million at auction. Naturally, this article repeats the myth that it was "gold hoarders" rather than an inflationary monetary policy undermining the nation's financial system in the 1930s. The Federal Reserve had printed many more paper dollars than there was gold to back it, and foreign holders of dollars were making redemption requests for specie. FDR confiscated all the privately-held gold in the country in order to be able to honor those requests, one of the most blatant and brazen violations of property rights in this nation's history.
For more information, see Murray Rothbard's excellent primer on money, the full text of which is available at the Ludwig von Mises Institute's website. |
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Although you can't tell, this is a scan of my 1938-D Jeff. |
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Jefferson Nickels (1938-??) |
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In early 2002, U.S. Mint officials hinted at the possibility that the nickel would be redesigned for 2003. Although Jefferson would remain on the obverse, the portrait may change, and Monticello might be replaced by a Lewis and Clark theme on the reverse.
After some shenanigans by the Virginian congressional delegation, which was upset that Monticello would be removed, a compromise was reached. Congress passed a law authorizing a new reverse for the nickel in 2003-2005, provided that Monticello returns in 2006. This marks a departure from the tradition of the Mint's autonomy in determining new coin designs after an existing design has graced the coinage for 25 years.
Many collectors are upset with this legislation because they think Virginia is "hijacking" one of the nation's coins. They also worry that this will hamstring future attempts at coin redesign. Although Jefferson is OK in my book, I'm afraid these folks are probably right.
At any rate, it is looking like we will not see a new design in 2003, according to an article in the September 8 issue of Coin World. Designs were submitted in May, but bureaucratic red tape is delaying the approval process. What else is new? At least the designs I have seen look pretty cool. |
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The first coin type I have decided to collect (other than random change from my pocket) is the Jefferson nickel. There are two major reasons for this:
1) Of all the presidents who currently grace our coinage, Thomas Jefferson was the least objectionable.
2) The Jefferson nickel is probably the least expensive coin (with the possible exception of the Roosevelt dime) to collect a complete run of in uncirculated condition. |
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Collection Count: 101 (of 177) |
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