Posts Tagged printing presses
Mint to Stop Making One-Dollar Presidential Coins
Posted by admin in Uncategorized on January 24, 2012
The U.S. Mint has decided to save money by not making money. oh, don’t worry, our beloved, if hard to come by lately, “dead president” paper bills will keep rolling off the mint’s printing presses, but production of commemorative presidential $1 coins for general circulation will end.
According to Treasury Secretary Timothy F. Geithner, halting production of the $1 presidential coins will save about $50 million annually. and besides, like Vice President Joe Biden said in a press release, “nobody wants to use them.”
The Presidential Coin Act of 2005 requires the Mint to issue $1 coins bearing the likeness of each deceased U.S. president at an annual rate of 70-80 million coins per president. Today, however, more than 1.4 billion or 40% of all the $1 coins ever issued have been returned, and are just gathering dust in Federal Reserve banks. according to VP Biden, the unused excess will meet the demand for $1 coins for more than a decade. considering the historic lack of popularity for dollar coins, probably a lot longer than that, Mr. Vice President.
Also see: Mint Stops Striking Golden Dollar Coins
The Mint will continue to produce — at no cost to taxpayers — a relatively small number of the $1 presidential coins for sale to collectors. Demand for $1 coins to be used in general circulation will be met through the Federal Reserve Banks’ existing inventory of more than 1.4 billion coins, which will be drawn down over time.
“At the Treasury Department, we’re continuing to work hard in support of President Obama and Vice President Biden’s efforts to cut waste and streamline government,” said Treasury Secretary Tim Geithner in a press statement. “Putting a stop to the minting of surplus $1 coins represents a significant opportunity to reduce costs and improve efficiency.”
Also see: Yet Another Dollar Coin? Mint Survey: most Americans Can’t name Founding Fathers
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Photo: Possibly First U.S. One Dollar Coin – Getty Images
Mint to Stop Making One-Dollar Presidential Coins
All Blacks get overnight stamp of approval
Posted by admin in Uncategorized on October 24, 2011
Monday, 24 October 2011, 12:13 pm Press Release: New Zealand Post
24 October 2011
All Blacksget overnight stamp of approval
FORIMMEDIATE RELEASE:
New Zealand Post teams havebeen working through the night to create a specialcollectors’ stamp sheet to celebrate New Zealand winning theRugby World Cup. the RWC 2011 Champions Stamp Sheethit the printing presses within minutes of the final whistleat last night’s Rugby World Cup 2011 final.
“after the victory wecranked up the presses and printed right through the nightso New Zealanders can celebrate this victory with a limitededition collectors’ stamp sheet,” Ivor Masters, who headsNew Zealand Post’s stamp and coin business, said.
“this unique product will hit the shops in maincentres on Tuesday, rolling out across the whole country bythe middle of this week. this is the fastest we have everturned around a stamp release.
“We’re pullingout all the stops because this is a once-in-a-lifetimecelebration of our country not only hosting, but alsowinning, this top sporting prize.”
The stamp sheetfeatures six of the official All Black stamps alongside ateam portrait snapped just moments after the final whistleblew.
“Under the photo we’ve included the finalscore from this epic sporting event – which for the sake ofanyone who’s been in a coma – was New Zealand 8, France7.
“a lot of people will want these as personalmementoes, and they’ve been designed to displaybeautifully in a frame or to preserve for futuregenerations.
“meanwhile some of us, myselfincluded, won’t be able to resist buying spare sheets ofthese stamps to send to friends and family overseas whosupported other teams, as a gentle reminder of who won.
“Which for the record was us. New Zealand. the worldchampion All Blacks,” Ivor Masters added.
The RWC 2011 Champions StampSheet is an official licensed product produced inpartnership with the NZRU and RWC 2011. the stamp sheetswill be available from Tuesday this week from selectedPostShops, or alternatively you can avoid disappointment byvisiting nzpost.co.nz/stamps to purchase thestamps. Each stamp sheet features six official $1.90 AllBlacks stamps, a victory photo from the World Cup final andthe final score recorded for posterity. the stamp sheetsare suitable for framing, display, private collections orsarcastically gifting to Wallabies supporters. the stampsheets will retail for $19.90.The stamp sheet will be available fromselected PostShops in Auckland, Wellington, Christchurch,Dunedin, Palmerston North and Whanganui on Tuesday, followedby all other PostShops around the country receiving thestamp sheets on Wednesday.Other products in New Zealand Post’sRWC 2011 and All Blacks stamp range includes: NewZealand’s first 3D stamp – the Webb Ellis Cup, the RWC2011 Webb Ellis Cup coin, and two All Blacks coins. Theseare also available from PostShops and online at nzpost.co.nz/stamps and nzpost.co.nz/coins.
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