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  1. #1
    Kung Fu Master Eathan's Avatar
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    State Quarters - A Fun Factoid
    I stumbled upon something interesting today at Wikipedia about the state quarters:

    The 50 State Quarters program became the most successful numismatic program in history, with roughly half of the U.S. population collecting the coins. The U.S. federal government so far has made a profit of $4.6 billion from collectors taking the coins out of circulation.
    We just started carrying the Whitman quarter albums (not on the site yet), so I was pleasantly blown away by the first stat (wish we'd gotten the albums up in time for Christmas), but the second is what really got me. I had never really considered the government making money every time a coin is taken out of circulation, especially not to the tune of $4.6 billion! It may sound like peanuts amidst today's news, but they're very big peanuts and there's a lot of 'em...

    BTW, anybody in Philly care to send me a few rolls of quarters, all we get out here are Denvers...?
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  2. #2
    Full Member Greywolf's Avatar
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    Hey! I learned a new word: numismatic

    I'm skeptical of the $4.6 billion profit claim. By that logic, ALL money that is saved, and not spent, is a profit to the govt.
    "Somebody may beat me, but they are going to have to bleed to do it." Steve Prefontaine

  3. #3
    ABW Ambassador 2busy's Avatar
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    By that logic, ALL money that is saved, and not spent, is a profit to the govt.
    And by that logic the government could print itself out of any deficit just by printing more dollars..but that is not true.

  4. #4
    Full Member Greywolf's Avatar
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    Quote Originally Posted by 2busy
    And by that logic the government could print itself out of any deficit just by printing more dollars..but that is not true.
    We'd also have to assume Americans increase their savings rate, but the fed dropping the interest rate to near zero is intended to increase consumption, not savings. Fed policy, more than anything else, is what creates a boom and bust economic cycle.
    "Somebody may beat me, but they are going to have to bleed to do it." Steve Prefontaine

  5. #5
    Kung Fu Master Eathan's Avatar
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    Quote Originally Posted by Greywolf
    Hey! I learned a new word: numismatic

    I'm skeptical of the $4.6 billion profit claim. By that logic, ALL money that is saved, and not spent, is a profit to the govt.
    It is pretty strange logic, but here's another new word for the day: "seigniorage".
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

  6. #6
    ABW Ambassador writerguy's Avatar
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    Quote Originally Posted by Greywolf
    Hey! I learned a new word: numismatic

    I'm skeptical of the $4.6 billion profit claim. By that logic, ALL money that is saved, and not spent, is a profit to the govt.
    Ah, yes, and then there's the case of the humble penny (one-cent, whatever) -- which is actually costing the government money to make.

    So much for the old "penny for your thoughts," "my 2-cents worth," etc.
    Generate more fake news.

  7. #7
    Full Member Greywolf's Avatar
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    Quote Originally Posted by Eathan
    It is pretty strange logic, but here's another new word for the day: "seigniorage".
    I read the link. Sounds like the citizens lose out when a government practices seigniorage.
    "Somebody may beat me, but they are going to have to bleed to do it." Steve Prefontaine

  8. #8
    Outsourced Program Manager TrishaLyn's Avatar
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    Quote Originally Posted by writerguy
    Ah, yes, and then there's the case of the humble penny (one-cent, whatever) -- which is actually costing the government money to make.

    So much for the old "penny for your thoughts," "my 2-cents worth," etc.
    There was a news story about a week or so ago about a 22 yr old guy in NJ trying to pay a $56 parking ticket with rolls or pennie and they wouldn't take it, so he is fighting it on principal. It's an interesting situation.

  9. #9
    Kung Fu Master Eathan's Avatar
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    Thanks for the link. Pretty amusing read.
    Eathan Mertz

    Black Cat Mining - Gold Prospecting & Rockhounding Equipment

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