Question on Dollar coins

Bob-tx

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Jun 16, 2010, 3:48:15 PM6/16/10

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This is not a collecting question, but I am curious.

Since our folding money says, "Federal Reserve Note", are dollar
coins and for that matter all currently modern coins controlled by
the Red Reserve?

Bob-tx

Michael Benveniste

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Jun 16, 2010, 3:51:00 PM6/16/10

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"Bob-tx" <bobw...@suddenlink.net> wrote:

> Since our folding money says, "Federal Reserve Note", are dollar coins and
> for that matter all currently modern coins controlled by the Red Reserve?

Short answer: No.

Long answer: There are at least 3 channels by which the Mint
can distribute coins, with a potential 4th about to start up.

-- The Federal Reserve distributes the vast majority of circulating
U.S. coinage.
-- The Mint sells some coins directly to the public. Normally, they
charge a premium for this service, but for dollar coins, they offer
a direct ship program without such a surcharge.
-- Uncirculated Bullion coins are sold through "Authorized Purchasers,"
the qualifications for which are found here:
http://www.usmint.gov/consumer/index.cfm?action=AmericanEagles
-- (Near future) The National Park Service has the right to purchase
and resell the 5-ounce "Silver Bullion Investment Product" mandated
by the 'America's Beautiful National Parks Quarter Dollar Coin Act
of 2008.'

In the past, various other special arrangements have been made.
Most of the great U.S. rarities left the mint via various proverbial
"side doors." Sometimes, it was even done legally.

--
Mike Benveniste -- m...@murkyether.com (Clarification Required)
Its name is Public opinion. It is held in reverence. It settles
everything. Some think it is the voice of God. -- Mark Twain

oly

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Jun 16, 2010, 7:06:57 PM6/16/10

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On Jun 16, 2:51 pm, "Michael Benveniste" <m...@murkyether.com> wrote:

Perhaps I am wrong, but somehow I don't think this poster realizes the
question being asked.

oly

Bob-tx

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Jun 17, 2010, 5:42:48 AM6/17/10

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"Michael Benveniste" <m...@murkyether.com> wrote in message
news:87so95...@mid.individual.net...

Interesting, I think. Appreciate the info'
Thanks, Bob-tx

MJKolodziej

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Jun 17, 2010, 1:51:51 PM6/17/10

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"oly" <oly...@aol.com> wrote in message
news:1024b2d2-0d95-4bfe...@j8g2000yqd.googlegroups.com...

oly

Does Red Reserve = Fed Reserve?
mk

oly

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Jun 17, 2010, 7:27:12 PM6/17/10

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On Jun 17, 12:51 pm, "MJKolodziej"
<mjmwcsREMOVEKILLERCH...@htcomp.net> wrote:
> "oly" <oly2...@aol.com> wrote in message

> mk- Hide quoted text -
>
> - Show quoted text -

Red-ink, maybe.

oly

Jass

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Jun 19, 2010, 3:16:14 AM6/19/10

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On Jun 16, 12:51 pm, "Michael Benveniste" <m...@murkyether.com> wrote:

Theres also the back-back door model:

The Panama balboa. Identical in value and size as american currency
(the country uses dollar bills but makes their own coins)
theoretically, they could circulate in american with no issue. I
actually got one in change the other day

Michael Benveniste

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Jun 19, 2010, 11:57:54 AM6/19/10

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"Jass" <jamesi...@yahoo.com> wrote:

> Theres also the back-back door model:
>
> The Panama balboa. Identical in value and size as american currency
> (the country uses dollar bills but makes their own coins)
> theoretically, they could circulate in american with no issue. I

> actually got one in change the other day.

I'm not sure if the U.S. Mint ships coins directly to foreign
countries directly or if they get there via the Federal Reserve
System, but one of the very few times I've received a brass buck
in change was in Bermuda. The Bermuda dollar coin is similar in
color and size and is at par with the U.S. dollar.