April 2015 Article
Below is an extrapolation of some of the "behind the scenes" answers to survey questions. (It should be noted that the names and references to the coins listed in our answers were not altered, in order to preserve the authenticity of the vernacular of our coin experts.)
Will the Penny be phased out?
This has been a perennial question for the US government, as well as a gripe by many private citizens. The US Mint currently loses over $50 million a year from Penny production, and it seems that the experts have spoken: 56% of them think it should be abolished, and believe that it will happen by the year 2026 (average mean).
What President deserves his own denomination?
This is another heated question that is constantly discussed by not just the numismatic community, but among history buffs, political enthusiasts, and many others. Even though he was President just 25 years ago, Ronald Reagan won the poll with 41%. In a close second place, Theodore Roosevelt carried 30%. Harry Truman came in third with 11%. It should be noted that all Presidents have already been featured or are slated to appear on a coin as part of the Presidential $1 Coin Program, authorized by Congress in 2005.
Will there ever be a new denomination? If so, what amount?
This question intrigued many experts, but ultimately, the majority (70%) said that they don't foresee the US Mint introducing any new denominations. Of the 30% who did believe that a new denomination will be created, the results were evenly split: 15% suggested a $200 bill, and 15% suggested a $5 coin. With inflation consistently on the rise, a $200 bill is not outrageous, though it might take some time.
Which coin/bill will the US Mint bring back into mass circulation?
Similar to the prior question, there were a large number of abstentions here, as 44% said that the US Mint will not bring back any of the above mentioned coins/bills. Of the listed coins/bills, the $2 bill won the vote with a solid 28%, while the Susan B Anthony coin received 12%. The Sacagawea and Kennedy half-dollar garnered just 8%. The $2 bill was officially discontinued for mass circulation in 1966, though it is still considered legal tender.
What is the most overvalued coin on the market?
Although experts gave many answers, the predominant choice was Morgan dollars. Here were a few other answers which did not receive enough of a majority of votes: 1943 Lincoln Cent on Dime Planchet, 1875 CC Twenty Cent piece, 1804 Dollar, 1804 Large Cent, new release Gold Kennedy Half Dollars, Liberty Shield Nickels, 1955 Lincoln Double Die, State Quarter Proof sets, 1933 Double Eagle, & 1881 Silver Dollars.
What is the most undervalued coin on the market?
A fair amount of the answers here fixated on silver coins, but overall, three cent coins took the crown. Some of other undervalued coins offered up were: Indian Cents, Liberty Nickels, Jefferson Five Cents, 1876 Twenty Cent pieces, 1945, 1946, & 1947 Silver Dollars, Fugio Coppers, Canada Silver Dollars, wheat Pennies, Indian Head Gold Eagle, Flying Eagle Cents, Mint Barber coins, Proof Mercury Dimes, pre-1836 silver, & 1927 D Nickels.
What is the hardest coin to locate?
Many coin experts left this question blank, as it seems that every coin is locatable. Of course, it came as no surprise that the famous (or infamous) Liberty Nickel led all other coins in this category. Some other coins listed were: 1863 3 Cent Silver Proofs, Choice 1793 Chain Cent, territorial gold coins from the California Gold Rush, 1790's Copper Coins in Mint Red, the 1909 O Barber Quarter, 1804 Draped Bust Dollar, 1856 Flying Eagle, and the 1894 Silver Dollar.
What is your favorite coin?
Unsurprisingly, there was no specific coin which received more votes than others in this category, as coin experts each have their own subjective, fickle tastes. Here are most of the coins that were listed as answers: Gold Kennedy Half Dollar, Planchet Errors, 1982 Lincoln Memorial Penny, 1946 Iowa Statehood Centennial Commemorative Half Dollar, 1916 Standing Liberty Quarter, 1907 High Relief $20, 1794 Large Cent, 1921 Walking Liberty Half Dollar, 1732 Pillar Dollar, 1955 Double Die Lincoln Penny, 1804 Silver Dollar, 1907 St Gaudens $20, 1922 'NO - D' Cent, 2009 Double Gold Eagle, Roman Republican Denarii (Sabinus 89 BC), & 1849 Proof $20 Liberty.
What is your favorite Coin Series?
Although there was no specific coin series that dominated answers, there was some similar overlap, which we grouped together for the sake of our infographic visual above. This included Liberty Nickels, Quarters, Halves, and Dollars representing 17%, many types of Lincoln Pennies securing 14%, various Morgan Dollar series grabbing 10%, with Barber Quarters and Dollars as well as Kennedy Half Dollars each netting 7%. Among the miscellaneous coins which represented 44%, some of the mentions included: Peace Dollars, Canadian Silver Dollars, Half cents, Washington Quarters, Standing Liberty Quarters, Colonial and post-Colonial Copper, Liberty 'V' Nickels, Buffalo Nickels, Mercury Dimes, and Walking Liberty Halves.
If you didn't collect coins, what would you collect?
Stamps was the narrow victor here, securing 16% of coin experts' hobby preference. There was then a 4-way tie with 10% each for bottles, antique guns, spaceflight memorabilia, and art. The remaining miscellaneous hobbies included some of the following: Hot Wheels, postcards, vintage trains, autographs, error items, tokens, poker chips, rock and roll albums, gems, and muscle cars.
COIN EXPERTS REFERENCE LIST:
Mark Lighterman, President of CONECA (Combined Organizations of Numismatic Error Collectors of America)
Michael McNeil, President of Madison County Coin Club
Michael Turrini, President of CSNA (California State Numismatic Association) Solanocoinclub.com & Calcoin.org
Merle Avila, President of Redwood Empire Coin Club
Brian Grant Duff, Vancouver Numismatic Society & Allnationsstampandcoin.com
William Eckberg, President of EACS (Early American Coppers Organization)
Pierre Fricke, President of SPMC (Society of Paper Money Collectors)
Richard Parsons, Numismatic Expert
Brian Lowe, Numismatic Expert, Theperfectcoins.com
Rusty Scropper, Numismatic Expert, Coinsniper.com
Charmy Harker, Women In Numismatics, Thepennylady.com
Tony Swicer, President of FUN, (Florida United Numismatists) Funtopics.com
Michael Kittle, President of Glendale Coin Club, Kittlecoins.com
Bill Woscott, President of Richmond Coin Club
Scott Barman, Numismatic Expert, coinblog.ws
Kurt Springfield, President of Madison County Coin Club
Gene McPherson, President of Pasadena Coin Club
John Fryar, President of Albuquerque Coin Club
Harold Katzman, Corresponding Secretary of NASC (Numismatic Association of Southern California)