Sacagawea Dollar Production Suspended. (Always something interesting going on at the US Mint)

BlackLodge1

From:

Susan Headley's Coins Blog
Weekly Coin News for Nov. 6, 2007

Sacagawea Dollar Production Suspended

Coin World is reporting that the U.S. Mint will not produce any 2007 or 2008 Sacagawea Dollars for general circulation, as the result of its interpretation of the Native American $1 Coin Act which was passed by Congress in September. According to the report, the Mint believes that the Native American $1 Coin Act supersedes the directives in the Presidential Dollar Coin Act, which mandated that the Sacagawea Dollar must comprise 20% of the Dollar coins minted each year. The Native American act states that Sacagawea coins should have Native American themed commemorative reverses starting in 2009, but doesn't say anything about any Sacagaweas being minted in the meantime.

This news is no real surprise to coin community insiders, who have heard U.S. Mint Director Ed Moy state publicly at the ANA U.S. Mint Coin Collectors' Forum that the Mint hadn't even begun minting the Sacagweas as of late August, and planned to hold off until the end of year because they believed that legislation was pending that would affect this. The Mint has a stockpile of more than 100 million Sacagweas, which the Treasury Department feels is an adequate number to meet the needs of the public. These coins were minted back in 2000 and 2001, in fact, and are still awaiting public desire. The Mint will still sell the 2007 circulation quality Sacagaweas that were struck earlier this year for the bags and rolls sold on the Mint Web site, and they expect to do the same for 2008.

sumnom

Even though this has been discussed before, I still don't really understand why the NA designs beginning in 2009 affect the 2007-2008 runs. They are saying the NA$ law wholly cancels the pres$ law?

TwoSides2aCoin

This is the most ridiculous sentence I've ever read.

According to the report, the Mint believes that the Native American $1 Coin Act supersedes the directives in the Presidential Dollar Coin Act

Some men believe they'll be rewarded with 72 virgins for their dastardly deeds.

TwoSides2aCoin

<< <i>These coins were minted back in 2000 and 2001

Maybe they'll be forgotten and turn up in 70 years at which time people will be paying 100x face for them. >>



, no kidding Brandon. Maybe only fifteen times face

poorguy

These coins were minted back in 2000 and 2001

Maybe they'll be forgotten and turn up in 70 years at which time people will be paying 100x face for them.

percyb

<< <i>These coins were minted back in 2000 and 2001

Maybe they'll be forgotten and turn up in 70 years at which time people will be paying 100x face for them. >>



Could be. Who here will be around then to find out for certain?

rooksmith

I think the key word is "general circulation", -- they were released for general circulation only in 2000, 2001, and 2006 -- even though they have been minted each year. (accd. to Wikipedia )

I hope they keep producing the series in low mintages --not for general circulation.. As for the presidential coins -- same thing, they should only mint what the public demands , and melt the rest down.. or possibly reuse them -- as planchets?

I have to say I really love the Sacagawea dollar, and hope they dont muck with the design in 2009 as they say. Isnt the eagle in flight a Native American theme ?? Thomas D. Rogers eagle is my favorite - esp. the pattern !!

Coinhog

<< <i>I think the key word is "general circulation", -- they were released for general circulation only in 2000, 2001, and 2006 -- even though they have been minted each year. (accd. to Wikipedia )

I hope they keep producing the series in low mintages --not for general circulation.. As for the presidential coins -- same thing, they should only mint what the public demands , and melt the rest down.. or possibly reuse them -- as planchets?

I have to say I really love the Sacagawea dollar, and hope they dont muck with the design in 2009 as they say. Isnt the eagle in flight a Native American theme ?? Thomas D. Rogers eagle is my favorite - esp. the pattern !!








>>






The sac is a beautiful design. I would love to see them produce a specuial version in MS and proof silver

DeepCoin

The point being missed here is the Mint would have been required to coin about 250 million Sacs the Federal Reserve Bank does now want if the new legislation had not been passed. The old legislation required one Sac to be minted for every two presidential dollars. There would have been a lot of bags of unwanted and unloved coins sitting around.

pf70collector

Buffalo Sac would be cool. Perhaps Native Americans hunting one down. I see a speared buffalo sac in the near future.

TheRaven

Why do we even have these coins at all?

LanLord

As long as we're passing random coinage laws, let's reclaim the nickel from Virginia for the US.

itsnotjustme

If you read the law, the mint is correct in its interpretation. The law on the Native American Sac replaced the portion of the prior code that required the 1 of 3 minted be Sacs.

itsnotjustme

reading the text of the law, I must agree with the mint. From H.R. 2358: Native American $1 Coin Act:

SEC. 3. TECHNICAL AND CONFORMING AMENDMENTS.

Section 5112(n)(1) of title 31, United States Code, is amended--

(1) by striking the paragraph designation and heading and all that follows through `Notwithstanding subsection (d)' and inserting the following:

`(1) REDESIGN BEGINNING IN 2007- Notwithstanding subsection (d)';

(2) by striking subparagraph (B); and

(3) by redesignating clauses (i) and (ii) as subparagraphs (A) and (B), respectively, and indenting the subparagraphs appropriately.



From the Presidential dollar section of current Law:
SEC. 102. PRESIDENTIAL $1 COIN PROGRAM.
Section 5112 of title 31, United States Code, is amended by
adding at the end the following:
‘‘(n) REDESIGN AND ISSUANCE OF CIRCULATING $1 COINS HONORING
EACH OF THE PRESIDENTS OF THE UNITED STATES.—
‘‘(1) REDESIGN BEGINNING IN 2007.—
‘‘(A) IN GENERAL.—Notwithstanding subsection (d) and
in accordance with the provisions of this subsection, $1
coins issued during the period beginning January 1, 2007,
and ending upon the termination of the program under
paragraph (8), shall—
‘‘(i) have designs on the obverse selected in accordance
with paragraph (2)(B) which are emblematic of
the Presidents of the United States; and
‘‘(ii) have a design on the reverse selected in
accordance with paragraph (2)(A).
‘‘(B) CONTINUITY PROVISIONS.—
‘‘(i) IN GENERAL.—Notwithstanding subparagraph
(A), the Secretary shall continue to mint and issue
$1 coins which bear any design in effect before the
issuance of coins as required under this subsection
(including the so-called ‘Sacagawea-design’ $1 coins).
‘‘(ii) CIRCULATION QUANTITY.—Beginning January
1, 2007, and ending upon the termination of the program
under paragraph (8), the Secretary annually shall
mint and issue such ‘Sacagawea-design’ $1 coins for
circulation in quantities of no less than 1⁄3 of the total
$1 coins minted and issued under this subsection.’’.

So the part in italic bold is deleted.

sumnom

I'm just upset that Congress didn't pass this by me first.