Tuesday, December 19, 2006
( 7:43 AM ) Andy
Adding to the Nov. 21, 2006 entry about new presidential dollars, the U.S. Mint recently announced that they'll have gold coins for the first ladies. "This marks the first time the United States Mint has featured women on a consecutive series of coins," Director Edmund C. Moy said. The collectible First Spouse Coins will coincide with the annual release of the Presidential $1 Coins. The 2007 First Spouse Coins feature the images of Martha Washington, Abigail Adams and Dolley Madison in the order in which their husbands served as President.
"Each coin is a half-ounce of pure gold. You might say they are the Presidents' better half! Through this coin series, Americans will learn more about how the First Spouses have served our country," Moy said. #
Friday, December 15, 2006
( 5:57 AM ) Andy
What is the value of a nickel?
Based on current metal prices a U.S. nickle is worth 6.99 cents. A penny is worth 1.12 cents, based on the metals used to make it. And this "greater than face value" has the U.S. Mint reminding people that there are new laws protecting coins and penalties for melting them. These include fines and even jail time.
Officials fear that these metal prices might encourage the melting of pennies and nickels to sell the raw materials. This could lead to a shortage of these coins and increased costs to the government. "The nation needs its coinage for commerce," U.S. Mint director Ed Moy said. "We don't want to see our pennies and nickels melted down so a few individuals can take advantage of the American taxpayer. Replacing these coins would be an enormous cost to taxpayers."
Not only is it illegal to melt these U.S. coins, but there are export restrictions as well. Coins may not be exported to be melted and individuals are restricted to carrying out no more than $5 of pennies or nickels. No more than $100 may be shipped out "for legitimate coinage and numismatic purposes."
The fines for violating these rules include up to $10,000 in fines and up to five years in jail. The coins and metals could also be confiscated. #