Monday Morning Brief for Nov. 15, 2021: This is not a surprise
- Published: Nov 15, 2021, 7 AM
The announcement by United States Mint officials that it would issue the resurrected Morgan and Peace dollars in 2022 should come as no surprise. The Mint suggested that possibility long ago.
The decision to offer at least some future releases as an enrollment or subscription option is welcome. As we have reported for weeks, numerous collectors who sought to order the 2021 coins went away disappointed when products sold out quickly because mintages were far below demand. If the Mint can meet the demand to the point where everyone who wants a particular 2022 coin can get one, everyone wins.
We caution the Mint against issuing the same coins in too many finishes. The American Eagle silver dollar series is replete with bullion, numismatic Uncirculated, Proof, Reverse Proof and Enhanced Reverse Proof finishes, and let us not forget the World War II privy-marked coins of 2020 — do collectors want a repeat of that lineup in the Morgan and Peace dollar series?
One finish that most collectors would appreciate is a restoration of the finishes of the original Morgan and Peace dollars. Many collectors would probably love to purchase a new Morgan dollar with the original cartwheel effect and even the Deep Mirror Prooflike finish (not to be confused with the Cameo Proof finish). The technology to do this existed in the final quarter of the 19th century; surely it could be recreated today.
There will be some resistance from collectors of course. The centennial issues were made special because of the 2021 date, a century after the Morgan design gave way to the Peace design.
Still, the Mint will likely sell a lot of the 2022 coins. Will you be buying them?
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