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Tuesday, October 16, 2001

Kentucky quarter draws interest




By Mark R. Chellgren
The Associated Press

        FRANKFORT — A lot of people are trying to make a buck off the new Kentucky quarter.

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        One venture promises a signed statement from the self-proclaimed designer of the quarter. Another national venture is offering painted coins. Even the U.S. Mint is getting into the act, selling two rolls of the coins — face value $20 — for $32. The mint started selling the uncirculated Kentucky coins on Monday through its Web site, www.usmint.gov.

        The exception is state government, which is offering mostly small commemorative items in connection with the official release of the coin on Thursday in Bardstown. On the same day, the quarters will go on sale at state parks for 25 cents.

        “What we're trying to do is get the image of Kentucky out, not necessarily make a profit on it,” said Alice Heaton, manager of My Old Kentucky Home State Park. “You're not going to get gouged here.”

        The Kentucky coin features Federal Hill, the mansion that is supposed to have inspired Stephen Foster to write “My Old Kentucky Home.” A thoroughbred horse behind a plank fence is also on the coin.

        Kentucky will be the 15th commemorative quarter issued by the mint, keeping its practice of producing the state quarters in order of their entry into the union. The date 1792, the year Kentucky entered the Union, is also on the coin.

        Genuine coin collectors don't think much of the gimmicks that are being used to promote sales of various versions of the coins.

        “It's junk. We don't want it and there's no market for that, in all honesty,” said Tom Mulvaney of Mid-American Rare Coin Galleries in Lexington.

        Kay Harrod, who coordinated the coin competition for Gov. Paul Patton's office, dismissed any promotion by a supposed designer. “It's a hoax, because technically, the mint is the designer,” she said.

        The number of Kentucky coins to be struck will depend on demand, according to a spokeswoman for the mint. There were 662 million for the New Jersey coin and 1.5 billion for the Virginia version.

        “They (the series of quarters) are very collectible,” Mr. Mulvaney said. “Most people could probably get the whole collection out of pocket change if they're patient enough.”

       



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