Presidentail Dollars

19Lyds

Since he announcement was made that the US Mint would no longer be minting Presidential Dollars except for collectors, what will happen to the First Day of Issue Program with PCGS?

Typically, collector coins amount to rolls, bags, Mint and Proof sets of which none are available on the First Day of Issue. Only after the fact.

This leaves 1st Day Coin Covers, which hopefully do not get dropped, as the ONLY method for getting First Day of Issue slabs.

What will happen to the program?

Will it get super expensive or will it fade away until it gets dropped? If that happens, whats happens to the coins with FDI slabs that have been graded so far? Are we about to lose our butts?

sonoranmonsoon

I think the FDOI's interest started fading quickly this year even before the announcement, when the mint sets started producing dollars with deeper strikes. It seems those coins are easier to find in high grades, than First day of Issues. I prefer to collect the best coin I can get, and no longer pay any attention to labels such as FDOI, first strike, signature series, etc. I don't need duplicates of the same coin with different holders. I will probably delete my First day of issue registry sets sometime next year. One or two of them I believe are ranked #1.

Your question actually begs another question. What happens to the already weak collecting demand for all the Presidentials. If the mint is only going to produce coins only for the collecting public, then all the coins will probably be higher grade coins with deep strikes and more carefull handling, presumably from mint sets. There will probably be more than enough of these coins to meet demand. Finding ms-68 or 69's will be easy, just like the satins and proofs. I doubt we will see very many top pop's with low populations. If this scenario becomes true, I will be able to finish off the series at a reasonable price. I look forward to that! I would love to use more of my collecting budget on the classics, rather than trying to keep up with all those Presidents showing up each year.