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  • How to Make a Coin Ring from a Quarter

    I understand to disfigure or deface and type of money is against the law. However, to bring up an issue as to an estimate made by the mint of the cost of replacing defaced coins is well I do not know. Due to the facts that there are more coins being saved than defaced. You would think they would be estimating the cost of creating new coins for all the coins being saved by individuals. Well, I did some digging to answer my own question. [House Hearing, 112 Congress][From the U.S. Government Printing Office] THE FUTURE OF MONEY: COINAGE PRODUCTION======================================================================= HEARING BEFORE THE SUBCOMMITTEE ON DOMESTIC ...see more »I understand to disfigure or deface and type of money is against the law. However, to bring up an issue as to an estimate made by the mint of the cost of replacing defaced coins is well I do not know. Due to the facts that there are more coins being saved than defaced. You would think they would be estimating the cost of creating new coins for all the coins being saved by individuals. Well, I did some digging to answer my own question. [House Hearing, 112 Congress][From the U.S. Government Printing Office] THE FUTURE OF MONEY: COINAGE PRODUCTION======================================================================= HEARING BEFORE THE SUBCOMMITTEE ON DOMESTIC MONETARY POLICY AND TECHNOLOGY OF THE COMMITTEE ON FINANCIAL SERVICES U.S. HOUSE OF REPRESENTATIVES ONE HUNDRED TWELFTH CONGRESS SECOND SESSION __________ APRIL 17, 2012 __________ Printed for the use of the Committee on Financial Services Serial No. 112-117 U.S. GOVERNMENT PRINTING OFFICE75-089 PDF WASHINGTON : 2012 As it was brought up at a meeting by Mr. Luetkemeyer: I guess the next question I have is with regards to the amount of money that seems to be coming out of circulation. One of the comments that was made or some of the discussion that was had was how much of the money that comes out of circulation is due to collecting and loss and things like that. How much--every year we produce more, I guess, coinage to be able to supply more activity. How much of it is--or do you have any research that shows why we are producing more? Is it because of loss--just dropping in the back of your seat of your car or something or, it comes out of--are people collecting it? Why do we need to continue to do more? Mr. Weber: We haven't conducted any studies about the reasons for coinage leaving circulation. At the time that the Mint was completing the 50-State Quarter Program, it did provide what it believed to be an estimate that approximately half of the coins that it had minted for the program were likely held by collectors because of the unique collector value of those coins at the time. I don't believe that would necessarily apply to the other denominations. But as I mentioned, we have not studied that issue. Mr. Luetkemeyer: Okay. I see my time is up. Thank you, Mr. Chairman.https://www.gpo.gov/fdsys/pkg/CHRG-112hhrg75089/ht... STATEMENT OF DENNIS H. WEBER, COIN INDUSTRY CONSULTANTsection 61-64I really do not think there is a way of tracing such activities, rather it is a if you get caught type of situation. I think it is a cool idea

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