Coin Chat Radio’s Bob Van Ryzin starts the week’s ‘What’s In The News’ segment reviewing a newly introduced coin bill by Representative Robert Latta that would direct the US Mint to strike commemorative Ronald Reagan coins — $5 gold pieces and silver dollars — in 2013.
The subject turns to US coin topics as United States Mint Director Ed Moy, is interviewed on the floor of the World’s Fair of Money by Numismatic News Editor Dave Harper. The availability of the 2009 Lincoln pennies is explained.
"This is a matter of partnership, working with the Federal Reserve," Moy explains the lack of availability for the collector of the new pennies.
"Ultimately, our tasks are to make coins for demand in everyday economic and commercial transactions. And the bottom line is, our economy is not doing too well.
Harper asks Moy about the new Mint program to purchase two-roll sets of the pennies — one roll containing 50 coins from the Mint in Denver and one roll from the Mint in Philadelphia, for $8.95
"Some of the people have complained that to buy a two-roll set, because they can’t get them through banks they end up buying them through us, were expensive," Moy said, acknowledging the publics concern over the price.
"But, you know part of this is just the way the Mint does its accounting and how we allocate our overhead costs. And so, the reason why you are seeing so much of it in a penny is the pennies just have low face value.
But it still costs us the same amount of design and packaging and all the internal sales and general administrative expenses to do a roll as it does for us to do the Ultra High Relief."
Moy and Harper discuss other topics as well, including the unique opportunity for World’s Fair of Money attendees to hold and feel 2009 Ultra High Relief Saint-Gaudens, and the availability of the American Eagle and Buffalo non-bullion coins.
In a final interview, Harper talks to Steve Ellsworth on the bourse show floor about current coin market conditions. Early coppers and early type coins, as well as key dates for any of the series were very popular at the show.
Closing out this week’s edition of Coin Chat Radio, Online Editor Lisa Bellavin talks about 2009 Lincoln Cents, and conditions that have led to their extremely high demand.
To listen to this program, go to Coin Chat Radio. Current and prior week episodes are also available directly from sites hosting the free Coin Chat Radio player, like the one found in the upper right at Coin Collecting News.
