What's going to happen with the Presidential Dollar Series

TwoSides2aCoin

There's going to be a "break" in the series this year. That is all. Not a big deal, but it is, kind of.

BillJones

From what I've seen there is very little interest in these coins on any level. The public has refused to use the "golden dollars" in circulation, and collectors are hardly interested in the presidential dollars at all.

When I was dealer I could not get much more than face value for the presidential coin Proof sets. As a local coin club officer, I had a number of presidential dollars donated to the club for fund raising purposes. These were nice coins that had been packaged in holders by well known coin company. I could not get any more than face value for them, and ultimately I could not even get that much. They went to club's door prize fund.

TwoSides2aCoin

From my experience over the past 8 years, is there are a few people who collect these, and a few of them asked me what's going to happen.

mannie gray

I know a few collectors who want them, but only a handful.

This "Golden Dollar" thread made me remember a really funny thing that happened to me in 2000 when they first came out.

I happened to get a hundred or so of them very early, might have been even before WalMart had them. Can't remember exactly how I got them but I was set up at a medium sized show and brought them along, you know 2x2'd (is that a verb?) some and threw them in the bargain box for $1.50.

I also thought it would be a good idea to put some in a glass dish on the top of the table as a traffic stopper/conversation piece since I was the only guy who had any.

I told my wife to sell them for $1.50 each if anyone was interested.

Evidently she didn't hear me.

So I was shopping around the bourse for a couple of hours and came back, surprised at how many were gone. There were perhaps two or three now well-fingerprinted coins in the bowl.

"Wow," I said, "These are really moving. How many have you sold?" I asked the wife.

Her face said everything. "You mean they weren't samples?" she finally said.

It's very funny now, but she probably gave away at least $60-$75.

Not funny at the time. Well, it was, actually, a little bit.

But it has paid back in ways I couldn't foresee 15 years ago.

When she gets on me for doing something stupid, I sometimes say, "You mean, they aren't samples?"

Usually that ends the discussion.

Usually we then both laugh about it.

Usually.....

jmski52

They look pretty good in a Dansco.

BackroadJunkie

Originally posted by: TwoSides2aCoin
There's going to be a "break" in the series this year. That is all. Not a big deal, but it is, kind of.

Break? No, the series will die a deserved death. From PUBLIC LAW 109–145—DEC. 22, 2005, PRESIDENTIAL $1 COIN ACT OF 2005:

‘(8) TERMINATION OF PROGRAM .—The issuance of coins under this subsection shall terminate when each President has been so honored, subject to paragraph (2)(E), and may not be resumed except by an Act of Congress.

Paragraph 2E:

‘(E) LIMITATION IN SERIES TO DECEASED PRESIDENTS .— No coin issued under this subsection may bear the image of a living former or current President, or of any deceased former President during the 2-year period following the date of the death of that President.

Say g'night, Gracie.

TopographicOceans

I have a complete set of Presidential dollars
I also have complete sets of SBA's (w/o varieties ) as well as Ike's, Sacs, SHQ and ATB 25c.

I have a proof set for every year from my birth onward and a current subscription.

I've probably only looked at them once and then just put them in the proof set box.

TigersFan2

Sounds like Carter can't even get on a dollar coin even if he dies early in the year. He would have needed to die prior to 2014.

BStrauss3

That's alright, some stupid congress critter will get some other lame program passed into law. Maybe we can do a series of presidential pet dollars?

TigersFan2

My preference would be to stop minting all the dollar coins unless there is a demand for them to be spent by consumers. Also, quit minting Kennedy Halves since it's been over a dozen years since new ones have been put into circulation. Then when I buy my Mint Set and Proof Set each year, it contains fewer coins, costs less money and only contains the type coins in circulation.

7Jaguars

Agreed, let them RIP!

hchcoin

Originally posted by: mannie gray
I know a few collectors who want them, but only a handful.
This "Golden Dollar" thread made me remember a really funny thing that happened to me in 2000 when they first came out.
I happened to get a hundred or so of them very early, might have been even before WalMart had them. Can't remember exactly how I got them but I was set up at a medium sized show and brought them along, you know 2x2'd (is that a verb?) some and threw them in the bargain box for $1.50.
I also thought it would be a good idea to put some in a glass dish on the top of the table as a traffic stopper/conversation piece since I was the only guy who had any.
I told my wife to sell them for $1.50 each if anyone was interested.
Evidently she didn't hear me.
So I was shopping around the bourse for a couple of hours and came back, surprised at how many were gone. There were perhaps two or three now well-fingerprinted coins in the bowl.
"Wow," I said, "These are really moving. How many have you sold?" I asked the wife.
Her face said everything. "You mean they weren't samples?" she finally said.
It's very funny now, but she probably gave away at least $60-$75.
Not funny at the time. Well, it was, actually, a little bit.
But it has paid back in ways I couldn't foresee 15 years ago.
When she gets on me for doing something stupid, I sometimes say, "You mean, they aren't samples?"
Usually that ends the discussion.
Usually we then both laugh about it.
Usually.....

Great story

19Lyds

Until the paper dollar goes away, NO DOLLAR coin has an Ice Cubes chance of ever circulating. Regardless of what its design is or even what its metallic composition might be.



You see, the problem is NOT with the public since I've run into more than one person that didn't even know they existed. As such, they snatched them up to put away.

The REAL Problem is that general distributors "prefer" to order paper bucks since they have less handling and associated costs.



If the paper dollar were to go away, the coins would definitely circulate. Collecting them would have a surge in popularity and the government could save 180 million bucks a year. Maybe a little less if they absorbed the shipping costs for the coins like they did a few years back when you could order them by the $250 box before the credit card "mileage scammers" got wind of them.



Given a choice both the public and the distributors will navigate toward that which is most familiar and the ignorant will blissfully be on their way.



That's the bottom line.

TwoSides2aCoin

For those who wish they were dead (as a series) there is good news. They (presidents) are. Oddly, the law that authorized them is the same law that had no insight to how they would meet their demise. "incomplete". They remind me, in this respect, of the American Silver Eagle Proof (series) and 2009.

CaptHenway

The logical thing to do would be to wait until two years after President Carter, good man that he is, passes away and then put just his dollar in the annual Proof set. Do the First Lady coin as a one off. Of course logic has nothing to do with the process.

TigersFan2

Originally posted by: 19Lyds
Until the paper dollar goes away, NO DOLLAR coin has an Ice Cubes chance of ever circulating. Regardless of what its design is or even what its metallic composition might be.

You see, the problem is NOT with the public since I've run into more than one person that didn't even know they existed. As such, they snatched them up to put away.
The REAL Problem is that general distributors "prefer" to order paper bucks since they have less handling and associated costs.

If the paper dollar were to go away, the coins would definitely circulate. Collecting them would have a surge in popularity and the government could save 180 million bucks a year. Maybe a little less if they absorbed the shipping costs for the coins like they did a few years back when you could order them by the $250 box before the credit card "mileage scammers" got wind of them.

Given a choice both the public and the distributors will navigate toward that which is most familiar and the ignorant will blissfully be on their way.

That's the bottom line.

And the government should stop minting the penny. It would save a lot of money and have minimal impact on cash transactions. Electronic transactions could still go to the penny while cash transactions would be rounded up or down to the nearest nickel. Of course they'd still mint the penny for Mint Sets and Proof Sets and require us to buy them with these sets.

fishcooker

Just move the decimal and make 'em all 10x in value so they are worth using.

ricko

Just let the program die..... most are beyond ugly and little resemblance to the actual subjects.

The best move would be to eliminate the dollar bill and get these into circulation... save a bundle for the government. Cheers, RickO

smokincoin

Regarding Terry's original question... Aren't the Sacs on the same boat as the presidential dollars are?

BackroadJunkie

Originally posted by: smokincoin
Regarding Terry's original question... Aren't the Sacs on the same boat as the presidential dollars are?

Not sure what Terry's original question was, but the answer is NO. I'm not sure why these two series of coins get connected, other than they're undesirable $1 coins...



The Prezbux was to be a commem of sorts, with a specified sunset.



The Sac dollar is a completely different act of the congress critters, which was an amendment to the coinage issued by the US Government. Sacabux are a part of the same law that authorizes the US Mint to stamp out cents, nickles, dimes, quarters and halves.



Native American $1 Coin Act - PUBLIC LAW 110–82—SEPT. 20, 2007

smokincoin

They're not connected?



I'm not sure how to link on our host's new site.



http://www.usmint.gov/mint_programs/nativeamerican/



"During the years of the program that correspond with the Presidential $1 Coin Program, Native American $1 Coins will be issued, to the maximum extent practicable, in the chronological order in which the Native Americans depicted lived or the events recognized occurred. Following the conclusion of the Presidential $1 Coin Program, the Native American $1 Coin Program coins will be issued in any order determined to be appropriate by the Secretary of the Treasury after consultation with the U.S. Senate Committee on Indian Affairs, the Congressional Native American Caucus of the U.S. House of Representatives, the Commission of Fine Arts and the National Congress of American Indians, and after public review by the Citizens Coinage Advisory Committee."

BackroadJunkie

Originally posted by: smokincoin
They're not connected?



I'm not sure how to link on our host's new site.



Native American $1 Coins
http://www.usmint.gov/mint_programs/nativeamerican/



"During the years of the program that correspond with the Presidential $1 Coin Program, Native American $1 Coins will be issued, to the maximum extent practicable, in the chronological order in which the Native Americans depicted lived or the events recognized occurred. Following the conclusion of the Presidential $1 Coin Program, the Native American $1 Coin Program coins will be issued in any order determined to be appropriate by the Secretary of the Treasury after consultation with the U.S. Senate Committee on Indian Affairs, the Congressional Native American Caucus of the U.S. House of Representatives, the Commission of Fine Arts and the National Congress of American Indians, and after public review by the Citizens Coinage Advisory Committee."

Fixed your link.



Read the two different laws. They have nothing to do with each other, other than the $1 Sac will continue to be minted simultaneously, and how many Sacabux must be produced versus the number of prezbux. (And composition and size of the coins.)



There is no sunset provision on the NA dollars, and the ending of the Prezbux law has no effect on the NA dollar law. The verbiage of the NA dollars that the mint published is from the NA dollar law. I've included the link for the presidential dollar law below, the NA dollar law is above. (Fixed that link to a secure one.)



PUBLIC LAW 109–145—DEC. 22, 2005



Edited to reformat everything and fix an error...

ProofArtworkonCircs

Here is a connection from the public law cited above.



<5) _quantity.e28094_the="" number="" of="" _24_1="" coins="" minted="" and="" issued="" in="" a="" year="" with="" the="" sacagawea-design="" obverse="" shall="" be="" not="" less="" than="" 20="" percent="" total="" such="" _year.e28099_e28099_.="">>



If the other dollars disappear, the Sacs could too.</5)>