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JUNE 1 WAS THE RELEASE DATE FOR THE SALT RIVER W QUARTERS AND NONE HAVE BEEN RELEASED YET !
tommyrusty7
Posts: 1,784 ✭✭✭✭
It will be interesting to see how they handle this.
Will they wait until after they open the bank lobby's to get the coins flowing again?
What does everyone think?
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Wow!
I have no significant interest in the W qtrs. so it has no effect on me.
My Collection of Old Holders
Never a slave to one plastic brand will I ever be.
There is a coin shortage because of transportation issues associated with a particular malady afflicting the country and the world. Not getting the latest W mintmarked quarters are just not much of a concern to myself and probably a few others.
Well there are many collectors that do search for and acquire the W quarters and this is big news to us
My personal belief is the West Point Mint has delayed the production and release of the Salt River W due to COVID-19 shut downs. I know they shut down twice in the past 2 months. Perhaps they will hold off and release them in August?
All they have to do is open the bank lobby's and there will be no shortage as people that collect these W's have many boxes of quarters in their homes that they can not get rid of.
Nope. If it was just the quarters you might be right but this is affecting all coin denominations
It might be some time after the bank lobby's open before walk-ins can get any coin rolls.
dumped $2800 in quarters in the CU coinstar Thursday. Going back with at least another $3500 on Tuesday. Limited access to CU lobby, but it is open.
Keep an open mind, or get financially repressed -Zoltan Pozsar
I have been getting an average of 10 boxes (quarters) a week at commercial drawer drive thrus since lobbies closed. I am now being told by most that I can only exchange $500 rolled for a $500 sealed box. Most of the coins I get remain in their carrier rolls because I have no indication there are NEW W's in them. NEW W's only appear in boxes of new coins. Coin enders tell me if the box contains new coins. I have yet to see a box that contains both old and new coin rolls.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Salt River quarters were already minted, forwarded to Fed banks and scheduled for release to the public two week's before the FED began it's current policy of limiting amount of new coins per customer. 99% of new coins go from the FED banks directly to their contractors (armored carriers) who supply banks and local large retailers (i.e Walmart). Banks themselves, while able to do so, rarely order new money from the Fed banks. The coins have made it at to at least the Fed Reserve branch banks, just a matter of time before they released to the carriers and to the public. I did notice in the month preceding the FED's June 15 cutback on coin issues that I was receiving an unusually larger than normal number of boxes of both 2019 and 20120 new quarters, some with W's. Tells me a lot of quarters in circulation are not getting back to the banks for recycling to the public. Cause could be a number of reasons and could explain the FEDs concern with the increase of new FED supplied coins being demanded by the carriers.
Keep an open mind, or get financially repressed -Zoltan Pozsar
IMO ... there's more going on then meets the eye.
I agree completely with that statement.
Well, there are those that would like nothing better than removing the use of cash. Good starting point to condition the masses. A sudden shortage of currency will make this all interesting.
Keep an open mind, or get financially repressed -Zoltan Pozsar
I agree to it as well
I was so excited, I thought I got two in change today and they were Denver minted. Beautiful looking.
The W quarters have not reached this little mountain village yet....I mentioned them to a couple of cashiers and shop people...no one has seen one yet. I know the coinstar machines have been busy...so people are clearing out their coin stashes....Cheers, RickO
My point is I know of two collectors that have searched at least 12 boxes of Salt Rivers without finding any W quarters. I don't think West Point released them yet. Have you searched any Salt River boxes yet and if yes have you found any W?
We will know a Salt River W has been found by a roll searcher (a few days after the fact) when PCGS updates its 2020 Quarter Quest Contest page to show there has been a First Discovery submisstion.
I have searched no Salt River boxes, but let's look at the 2020 West Point quarters timeline thus far. When doing so keep in mind that WP quarters have to be struck and shipped to the Philly & Denver mints well in advance so they can be mixed with the non-W coins and then be shipped to Federal Reserve banks to be included in the public release of the P & D coins on the official public release date.
February 3: Samoa P & D coins released to the public with no W's. W's would later be struck at WP and added to the Weir P & D coins released on Apr. 6 since renewal of the W program was not announced until after Feb. 3
March 28-April 1: WP shut down first time for three work days for thorough cleaning after employee tests positive. Has no affect on release of Samoa and Weir W's on Apr. 6, These coins likely struck well in advance at WP so they could be shipped to Philly and Denver to be included in ballistic bags of P & D coins that were released to the Federal Reserve prior to Apr. 6 for circulation.
April 6: P & D Weir coins released to the public. Included are the Samoa and Weir W's. PCGS certifies first discovery on both W's 14 days later on Apr. 20
April 15-21: WP shut down second time for five workdays. ASE production (non-mintmark coins) temporarily shifted to Philly. Gold coin production halted during this time.
June 1: P & D Salt River coins released to public and should have included W coins. Boxes reported to have been found but with no W's. Since WP was shut down for only five work days (Apr. 15-21) it is most likely that the Salt River W's were struck and shipped to Philly and Denver in order to meet public release schedule.
In 2019 the W's were added to P & D coins by being salted into the rolling machine tubs after receipt by the Federal reserve banks. In 2020 they are being added at the Philly and Denver mints before shipment to Federal reserce banks. This explains the high concentration of W's in 2019 boxes (found 250 Lowell W's in one box) to the much lower number of W's per 2020 box.
Salt River W's are very likely in boxes of P & Ds, but as my searching since the first W's were released in 2019 confirms, not all P & D boxes that should have W's will have W's. I searched two boxes of 2019 San Antonio's this past week and found no W's. This is not an anomaly, it has occurred numerous times before. It's also possible that the Philly and Denver mints shipped out one or more ballistic bags of Salt Rivers while awaiting arrival of the W's.
Until we get official word saying otherwise, I'm going with the W's have been released in monster bags to the Federal reserve banks and their branches, they have just not yet found their way to the public. Based on what we know it is likely that not all of the big bags had W's added to them.
Note: Above timeline complied from US mint press releases and CoinWorld articles.
Keep an open mind, or get financially repressed -Zoltan Pozsar
One box I bought from Discount Coin in Denver had no W.s in it and beside that all the end rolls had bad roller marks.
Roller mark issue is going to be unique to the contractor who rolled the coins and to the particular machine settings at the time of rolling.
My experience with "sealed boxes" for sale when it comes to W quarters is that many of the sellers have already searched a box or two and have come to the conclusion that this batch of boxes contains no W's. Same thing with many sealed roll sellers.
Keep an open mind, or get financially repressed -Zoltan Pozsar
Reached out to my contact at CoinWorld on the Salt River W issue, who it turn queried the mint.
He then published this info confirming release of the W's has been delayed and that they will be included in P & D bags shipped to federal reserve banks in late July or early August. This confirms that not all P & D Salt Rivers have yet left their respective mints.
Keep an open mind, or get financially repressed -Zoltan Pozsar
My cousin just took in over $400 in change mostly dimes and quarters but some pennies and nickels. The bank was so happy they counted and rolled them for free. Our banks here charge for that service, or did. I have a deal with a local merchant that I take all my change around $100 to them and they save any silver or odd coins for me.
When a man who is honestly mistaken hears the truth, he will either quit being mistaken or cease to be honest....Abraham Lincoln
Patriotism is supporting your country all the time, and your government when it deserves it.....Mark Twain
Another week closer to the Aug 31 Rockerfeller Historical site release. Oh wait maybe they will ve releasing them when they get around to releasing the Salt River W's.