To Order, Get on U.S. Mint’s Mailing List
Question: I recently received my 1986 proof silver Eagle from the U.S. Mint. I would like to order a 1987 proof silver Eagle but am told I will be able to get only one from a dealer (at an inflated price). Three dealers have told me that the Mint issued only the 1986 Eagle to the public, and the 1987 Eagle will be issued to dealers only. I’m new to coin collecting and wonder if I can order these and other sets directly from the Mint.--J.J.L.
Answer: As far as I know, the people you’ve talked to are mistaken. Dealers do not act as middlemen for the Mint. Dealers essentially are involved in the secondary market, buying and selling coins on the open market. In fact, some dealers order coins from the Mint just like other collectors, speculating that the coins will go up in value.
What you should do is get on the Mint’s mailing list. Millions of coins are sold each year by the Mint, which is an indication of the interest and number of people participating in the various public offerings. Recently, those on the mailing list were sent order forms for the new Constitution commemoratives, for example. The address for those coins, in care of the Mint, is P.O. Box 8140, Philadelphia, Pa. 19162-0018. The address for the 1987 proof set is P.O. Box 8666, Philadelphia, Pa. 19162-0015. The address for 1987 uncirculated sets is P.O. Box 13575, Philadelphia, Pa. 19162-0010.
Inquiries to any of those addresses should get you on the Mint’s mailing list. Or you can write to the Department of the Treasury, U.S. Mint, Washington, D.C. 20220.
People collect coins for many reasons; the possibility of financial gain is one of them. But the historical significance of coins should also be a factor. And what you can’t get from the Mint, because the ordering period has expired, you can get from a dealer. Prices are not inflated, as you indicate. By and large, they are priced to indicate the market value. Many coins, in fact, sell below their issue price.
Q: I have Mexican coins that appear to be sterling silver. The reverse says “Estados Unidos Mexicanos 1960 un peso.” I also have a Canadian $1 bill, Ottawa 1954 with a portrait of Queen Elizabeth. What is the current value of these items?--J.M.F.
A: Your Mexican peso is worth $2; the Canadian bill has no collector value.
Coin News
Uncut currency is being offered by the Bureau of Engraving and Printing, continuing a practice begun in 1935. Uncut sheets of $1 notes are offered in four-subject, 16-subject and 32-subject sheets. Two-dollar notes come in four-subject and 16-subject sheets. Each month, uncut currency sheets come from different Federal Reserve District banks, and some collectors try to have sheets from each district. By mail, four-subject $1 sheets are $10.25; 16-subject $1 sheets are $28 and $1 32-subject sheets are $47. By mail, $2 four-subject sheets are $14.75; $2 16-subject sheets are $45. Order from the Bureau of Engraving and Printing, Mail Order Sales, Room 602-11A, 14th and C streets S.W., Washington, D.C. 20228.
A mail bid sale of more than 2,900 coins is being conducted by Coin Galleries, the foreign department of Stack’s. A closing date of Aug. 19 is scheduled for the mail-bid sale featuring selections from the L. S. Ruder collection. Featured are ancient and modern coins of the world plus U.S. coins. Ancient highlights include a choice aureus of Claudius (estimated value $5,000 to $6,000), a rare sestertius of Gordian II ($1,000 to $1,500) and a rare zodiac drachm ($400 to $500). Catalogues and prices realized are $5 from Coin Galleries, 123 West 57th St., New York, N.Y. 10019; telephone (212) 582-5955.