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Wednesday, March 07, 2007

Government Competency 101

How does this happen?

PHILADELPHIA Mar 7, 2007 (AP)— An unknown number of new George Washington dollar coins were mistakenly struck without their edge inscriptions, including “In God We Trust,” and made it past inspectors and into circulation, the U.S. Mint said Wednesday.

The properly struck dollar coins, bearing the likeness of George Washington, are inscribed along the edge with “In God We Trust,” “E Pluribus Unum” and the year and mint mark. They went into circulation Feb. 15.

Bailey said it was unknown how many coins didn’t have the inscriptions. Ron Guth, president of Professional Coin Grading Service, one of the world’s largest coin authentication companies, said he believes that at least 50,000 error coins were put in circulation.

“The first one sold for $600 before everyone knew how common they actually were,” he said. “They’re going for around $40 to $60 on eBay now, and they’ll probably settle in the $50 range.”

Production of the presidential dollar entails a “new, complex, high-volume manufacturing system” that the mint will adjust to eliminate any future defects, the mint said in a statement.

“We take this matter seriously. We also consider quality control a high priority. The agency is looking into the matter to determine a possible cause in the manufacturing process,” the statement said.

Apparently there’s a internet conspiracy theory going around that the government intentionally took the motto off of the coins because they hate religion.  I’m leaning more in the direction that they are complete idiots.  They probably aren’t smart enough to get a conspiracy going on their own.

I was just counting one of the state quarters.  There was by my count only 18 words on that quarter.  I doubt that the new coin has that many. 

Is anyone going to lose their job over this bit of stunning incompetence?  I doubt it, working for the government means never having to say you’re sorry.

Comments

I’m leaning more in the direction that they are complete idiots.  They probably aren’t smart enough to get a conspiracy going on their own.

heh

electnixon on March 8, 2007 at 06:30 am
Avatar for Sherard

Apparently there’s a internet conspiracy theory going around that the government intentionally took the motto off of the coins because they hate religion.

I lean towards “it doesn’t really matter” and the folks at Treasury probably paid it the attention they thought it deserved.  Right or wrong, the presence of a slogan on a coin is inconsequential unless someone, somewhere has started counterfeiting dollar coins.  Which I put at about a .0001% chance of happening.

I would also be curious how much of this process is automated and what process would actually drive them to take notice of the missing slogan.  I work in an industry driven by processes and the ones with inconsequential outcomes ?  They get ignored or missed until they are recognized as inconsequential and eliminated.

Sherard on March 8, 2007 at 01:02 pm

I’m pretty sure they were “leaked” to create a faster market for coin collectors. If you get them on board, they’ll fuel the desire for mainstream American to accept dollar coins.

Fiu's Rob B. on March 8, 2007 at 01:59 pm

Rob B. I got this from Fark, in the comments somebody postulated that this would get the public to welcome the coins because they just might get one without the slogan.

I doubt that it’s intentional but it’s likely to have that effect.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on March 8, 2007 at 02:30 pm

I just remember when I was in highschool, I’d work coin shows with a friend of mine. One of the things that always got coin or stamp collectors was when you could get a rare “flawed” coin or stamp. It was like a built in collectors item to have a misprint.

I wouldn’t be suprised if they did the same thing here. Considering the desire of some people to not have “In God We Trust” on the coins you’d have a built in consumer base and an added collector status.

or it could have just been a screwup

Fiu's Rob B. on March 8, 2007 at 02:37 pm

or it could have just been a screwup

I still think that they are not that smart.


What’s going to happen to US industry when the global warming extremists like John McCain double the price of electricity?  I would think all these factories will close and set up in countries where they aren’t scared of technology.


The Whistler's signature
The Whistler on March 8, 2007 at 02:58 pm

They are not that smart. A dollar coin, the exact same deminsions as a quarter? How many times has this failed? Incompetent is an understatement.


Una Salus Victus Nullam Sperare Salutem

2Hotel9 on March 8, 2007 at 04:31 pm

The point here is that they minted up 300 million dollars worth of coins nobody wanted, nobody needs, and—hey Look!  Some of them are misprinted!

SO collectors quickly buy up the 300 million, and most of them never see any sort of circulation—because they have the same problem the Susie B dollar had—they look and act too much like a quarter.  Isn’t that why they invented the Sacagawea dollar—which nobody wants to use either?

It’s a scam friends.  An easy way for the government to make huge profit printing up coins nobody wants, and nobody will use, but every one of which will be purchased and then stored in a box in the closet.

At least the Pet Rock was cute…


[Feet make good soup!]

Marty on March 8, 2007 at 05:09 pm
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