Welcome guest, is this your first visit?
Member
Discoveries
 
Page 1 of 2 1 2 LastLast
Results 1 to 15 of 17
  1. #1
    us
    Jul 2010
    24

    Purpose of Halves?

    As many of you know, half dollars have extremely limited circulation in day-to-day commerce. This gets me thinking. Why doesn't the government do what it did to the $4 dollar gold, 3 cent piece, 20 cent piece, 1/2 cent piece, 2 cent piece, and half dime?

    I'm almost positive that the coin roll hunters circulate most of the half dollars.
    What purpose do halves fulfill other than to give us coin roll hunters something to do during our lunch breaks?
    Keep Looking. The Next Hunt Could Be The One.

  2. #2
    us
    Feb 2008
    Great Lakes State
    #7
    8,930
    1043 times
    silver surfing

    Re: Purpose of Halves?

    Quote Originally Posted by SilverGuy
    As many of you know, half dollars have extremely limited circulation in day-to-day commerce. This gets me thinking. Why doesn't the government do what it did to the $4 dollar gold, 3 cent piece, 20 cent piece, 1/2 cent piece, 2 cent piece, and half dime?

    I'm almost positive that the coin roll hunters circulate most of the half dollars.
    What purpose do halves fulfill other than to give us coin roll hunters something to do during our lunch breaks?
    Good question. Did you mention that the government is involved here?

  3. #3
    Charter Member

    Oct 2004
    N. San Diego area (Pic of my two best 'finds')
    Minelab Explorer
    12,206
    1900 times
    Research and History
    Honorable Mentions (2)

    Re: Purpose of Halves?

    For that matter, why have pennies?
    Simply round each transaction up or down to the nearest nickel.

  4. #4
    us
    Jun 2009
    1,512
    6 times

    Re: Purpose of Halves?

    idk instead of 2 quarters use a half . i wanted to at work load the cash registers with them and try to get customers to take, but i think 50% would like it, 25% would say nty it is too big and some places don't accept it, 25% would say wtf that is fake. just like the dollar coins, most people hate them

  5. #5
    us
    Dec 2008
    St. Augustine, FL
    3,350
    771 times

    Re: Purpose of Halves?

    Because it is a money maker for the mint. The premium that they sell the newly minted coins to collectors more than makes up for the cost to produce. As long as there is a market, the mint will keep cranking out the coins. As far as the coins that are already in circulation, why would the government care? They already sold them to the Fed. It's the Fed's problem to account and store the coins.

  6. #6
    us
    Mar 2010
    Central Illinois
    T-2 Garrett Pro Pointer
    615
    1 times

    Re: Purpose of Halves?

    JFK was loved by many Americans. I think the boys and girls in Washington fear the backlash that would come if the coin was discontinued. After my generation dies off it won't be such a problem. Alot of cashiers think halves are dollar coins, so if you want to make a few extra bucks......
    Once I had a cashier argue with me that a half was a dollar. I had to show her where it said "half dollar". I know she has been a cashier for years.
    2011 YTD
    1st  half     2nd
     64 Rosies     72
       3 Mercs       3
       1 Barber
       7 Wash.       7
       1 Walker
       3 Bens
       5 64 Ken      1
      15 40%ers     3
       7 Buffalos
    207 Wheats     15
       3 Steels         6
       1 Indian
     10 War Nickel
       2 foreign sil.   1

  7. #7
    us
    Jul 2008
    Santa Fe, New Mexico
    Whites, MXT.
    4,616
    1137 times

    Re: Purpose of Halves?


    Hey Dave , You should have said " yeah your right !" and traded every half you could get
    your hands on - for a dollar ! I mean- she was so committed to being right . Argentium.

  8. #8
    us
    Mar 2010
    Colorado Springs CO.
    Bounty Hunter QS
    4,377
    1 times

    Re: Purpose of Halves?

    the purpose of halves are to take up xtra space...not circulate...provide silver...and make people angry when they get them in change, so why would the mint stop making them??
    CHAINCHOMP

  9. #9
    us
    Aug 2009
    White's MXT
    2,071
    5 times

    Re: Purpose of Halves?

    It used to be that halves were as circulated as the quarter. Ben Franklins were well used. However when the switch was made to go to clad coins and JFK's death, people started to hoard them and since that time, halves were not used by most people. They've made them for use in casinos for a while but since the casinos go to electric machines, halves were discontinued in terms of general business production. Maybe just blackjack tables use them now.

  10. #10
    aq
    Jul 2009
    346

    Re: Purpose of Halves?

    Why not just burn a barcode on our foreheads and be done with it all...

    I'm sure it is because the FED gets paid $.60 + interest for each one they produce and have no incentive not to have them minted.
    Halves Only.
    2009: 47,411 halves searched (1,185lbs, .59 Tons): 93 - 90% (.19%), 258 - 40% (.54%), 10 - "S" (.02%).  71.79 Troy Oz, 5.98 Troy Lbs.
    Goals:  Near term: $100 face 90% Halves
    Long term: $1,000 face 90% Halves

  11. #11
    us
    Apr 2009
    Clarksville TN.
    Minelab SE Pro
    1,776

    Re: Purpose of Halves?

    I'm aware of one retail Biz that orders Halves to give out in change and he is NOT interested in the Silver or just does not know about it as the teller lets my wife search the Boxes he orders for his customer and she brings them back- minus the Silver of course.

  12. #12
    us
    Dec 2008
    St. Augustine, FL
    3,350
    771 times

    Re: Purpose of Halves?

    Quote Originally Posted by Fredness
    Why not just burn a barcode on our foreheads and be done with it all...

    I'm sure it is because the FED gets paid $.60 + interest for each one they produce and have no incentive not to have them minted.
    You do know that the Fed has nothing to do with the minting of coins? The US Mint produces the coins and sells them to the Fed for circulating coins. For halves, the distribution of newly minted coins occurs directly through the mint to customers. There is quite a premium for rolls and bags that customers pay. For business strike circulating coinage, the Fed is obligated to buy the coins the Mint produces at face value. The difference in the cost of producing the coinage and the face value at which it is sold is called seigniorage. Other than the cent and nickle (I'm not sure on the latter), the Mint makes a profit on all it's coinage that is sold to the Fed. The Mint is one of the few government entities that produces a profit.

  13. #13
    us
    Apr 2009
    Clarksville TN.
    Minelab SE Pro
    1,776

    Re: Purpose of Halves?

    Quote Originally Posted by Diver_Down
    Quote Originally Posted by Fredness
    Why not just burn a barcode on our foreheads and be done with it all...

    I'm sure it is because the FED gets paid $.60 + interest for each one they produce and have no incentive not to have them minted.
    You do know that the Fed has nothing to do with the minting of coins? The US Mint produces the coins and sells them to the Fed for circulating coins. For halves, the distribution of newly minted coins occurs directly through the mint to customers. There is quite a premium for rolls and bags that customers pay. For business strike circulating coinage, the Fed is obligated to buy the coins the Mint produces at face value. The difference in the cost of producing the coinage and the face value at which it is sold is called seigniorage. Other than the cent and nickle (I'm not sure on the latter), the Mint makes a profit on all it's coinage that is sold to the Fed. The Mint is one of the few government entities that produces a profit.
    That is sooo true, the Fed is just a clever name for an International Banking cartel that Congress turned over our Constitutional system of PM backed currency too that has in truth gutted US and left US with what is essentially worthless paper with numbers written on it that was destined to collapse the day the system was created; the problem is they are controlling the crash- collapse, managing it (US) right into their one world system and currency- sadly I see no way out of what is coming as the majority of US are unaware and unconcerned.

  14. #14
    aq
    Jul 2009
    346

    Re: Purpose of Halves?

    http://www.ustreas.gov/education/fac...ribution.shtml

    Chicken and the egg.
    The FED pays face value for the coin to the Mint, the FED gets this money the same way as paper (FRN), through loans to Uncle Sugar.
    So, even if the Mint makes a profit on the coin there is interest to be paid to the FED for the money (coin and FRN) which is circulating.
    If what your saying was the case, we could end the national debt by refusing FRNs and using nothing but coin.
    Halves Only.
    2009: 47,411 halves searched (1,185lbs, .59 Tons): 93 - 90% (.19%), 258 - 40% (.54%), 10 - "S" (.02%).  71.79 Troy Oz, 5.98 Troy Lbs.
    Goals:  Near term: $100 face 90% Halves
    Long term: $1,000 face 90% Halves

  15. #15
    us
    Jul 2010
    24

    Re: Purpose of Halves?

    I am aware of the mint minting coins and selling to the fed for a profit. $50 cent pieces aren't struck for circulation anymore. Wouldn't it be to the mint's advantage to recall the already circulating halves and replace them with quarters (thus making a profit on the newly minted quarters).
    Keep Looking. The Next Hunt Could Be The One.

 

 
Page 1 of 2 1 2 LastLast

Sponsors

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Powered by vBadvanced CMPS v4.1.3