StarBulletin.com

Worth a Mint


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POSTED: Sunday, October 19, 2008

Money, money, money, everywhere. Clattering down conveyor belts, pouring through chutes into rolling bins, being stamped by huge automatic presses.

               

     

 

 

U.S. MINT IN DENVER

        The U.S. Mint is at 320 W. Colfax Ave. in downtown Denver.

       

Free 30-minute tours are conducted on the hour from 8 a.m. to 2 p.m. Monday through Friday, except on federal holidays. Reservations are required, and can be made in person or online, at http://www.usmint.gov. Click on the “;tours”; tab in the upper right corner, then click on “;Denver.”; Arrive 15 minutes ahead of your scheduled tour; late arrivals are not admitted. Standby customers should wait at the tour entrance.

       

No carry items are allowed, including purses and backpacks. Leave those in the car or at the hotel; there are no lockers. No cameras are allowed. Visitors must pass through a metal detector before entering. The Mint does not provide parking, but metered street parking is plentiful, as are pay lots.

       

The day before your tour, call the 24-hour information line at (303) 405-4751 to make sure that security concerns have not altered the schedule.

       

 

       

STATE QUARTERS IN SILVERY FINISH

        This silver proof set from the U.S. Mint in Denver includes the final five state quarters: Oklahoma, New Mexico, Arizona, Alaska and Hawaii. The set, made from 90 percent silver alloy in a special process that gives the coins a mirrorlike finish, sells for $25.95.

       

       

Of course, it's all behind thick glass, and our tour group is followed closely by a uniformed guard. Still, it's comforting to see that amid the country's economic meltdown, the U.S. Mint in Denver is churning out coins like it always does, and allowing visitors to get a glimpse of the action.

People who tour the Mint in the next two months can witness production of the Hawaii quarter, the last in the popular state quarter program; the process began Tuesday and lasts about 73 days. The state series has been so successful that the Mint is planning a future quarter series showcasing national parks, featuring a natural treasure from each U.S. state.

It's important that the Mint come up with such profitable coins because its main stock—pennies and nickels—lose money. It costs 9 cents to make each nickel, and 1.5 cents to make each cent coin; the Mint lost $80 million minting pennies last year.

But it makes up the loss by selling expensive collectible coins, such as silver proofs, that never enter circulation, as well as circulating coins, such as the state quarters, that are snapped up by casual collectors—boosting the demand for more coins.

In Denver, tourists start downstairs, perusing displays on the history of money, with artifacts from all over the world. Included are rare coins, including two ancient Jewish coins made during rebellions against the Roman Empire.

The formal 30-minute tour begins upstairs, with visitors watching through glass as workers on the floor below stamp, sort and check countless coins. Tourists can contrast the speedy automation with the historic wheel press on display that was long ago used to make just a few coins at a time.

The tour ends with a peek at the machine gun's nest where an armed guard used to be posted, with a bird's-eye view of the Mint's 2,000-pound exit doors.

But according to our guide, the only major heist in Denver was an inside job: Over the course of two weeks in 1920, a worker pilfered gold bullion and hid it in his hollow wooden leg. The nightly take added up to more than $100,000 worth of gold, which was found buried in his yard.

Today the way to take valuables from the Mint is to make a run at the gift shop on the property. Among the many popular items are plastic-encased silver proof sets that have never been sullied by human hands (the employees who package them wear gloves). Unlike the billions of coins that the Mint puts into circulation, they retain their satiny sheen forever—or until some overeager collector can't help herself and opens the box.