Monday Morning Brief for Dec. 21, 2020: Finally, some Fantastic news

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Finally, we receive some fantastic news in 2020: Congress passed laws authorizing the United States Mint to hit numismatic coins at 2021 celebrating the centennial of this transition from the Morgan dollar into the Peace dollar.

This law, H.R. 6192, is the bill collectors, traders and grading services are waiting for ever since it was introduced in the House of Representatives on March 11, 2020. It was a substitute for earlier legislation seeking 2021 commemorative coins honoring the centennial; the new announcement became necessary after Congress approved two commemorative coin statements for the calendar year, the maximum allowed under present rules.

All present silver coinage is now .999 fine.

With the laws a mere presidential signature away from acceptance (it may also become law without the president’s acceptance ), everyone is now asking: How will the Mint promote the coins?

Since these are numismatic coins, they can be sold directly to collectors and traders, rather than just into the Mint’s licensed buyers — market makers in bullion coins — who buy gold coins in bulk and can then sell to other collectors and dealers.

While this legislation has been considered, collectors concerned that the Mint will not get this program”right”; afterwards, the Mint made many enormous blunders in 2020 in its advertising of many highly anticipated coin programs.

The United States Mint can take a huge step in restoring collector assurance by ensuring that this program is done properly. That usually means that mintages need to accurately reflect expected market demand, that the coins must be dispersed to make sure that dealers don’t get the vast majority or entirety of the numerous problems to then sell to collectors at costs well above issue price, and which the Mint shouldn’t go too crazy in offering variant endings, Mint marks, and privy marks.

A fantastic standard set of 2021 Morgan dollars struck at the facilities which struck the coins a century ago would be useful. It’s probably too much to hope for that the Carson City Mint, now a state museum in Nevada using a classic Mint press, could hit a few, though it was long closed in 1921 anyway.

The 2021 Peace buck should be struck at the same high relief as the 1921 variation was struck. With a century of improvements in engineering, the Mint should have the ability to ensure the 2021 strikes look much better than the originals, which tended to be more softly struck due to the intense relief as well as the limitations of early 20th century moves.

Proof versions of both coins would be appropriate, provided that the U.S. Mint shows restraint in issuing coins from other finishes. The Philadelphia Mint did not strike Proof versions of design for overall collector purchase in 1921, though several controversial special strikes are known for its 1921 Morgan dollars — the so-called Zerbe Proofs and Chapman Proofs, supposedly specially struck for 2 of their most prominent of numismatists of the era.

The 2021 Morgan and Peace silver dollars possess excellent potential as slogans. Their launch in 2021 are the most exciting collector information of the year.

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