Home U.S. Coin Forum

GW Dollars are Being Hoarded by the Boat Load...

or else I would have seen one in circulation by now. They will be worth $1image
imageimage
Collector of Early 20th Century U.S. Coinage.
ANA Member R-3147111

Comments

  • I think stores and stuff are just turning them back into the bank instead of giving them out in change.
    What Mr. Spock would say about numismatics...
    image... "Fascinating, but not logical"

    "Live long and prosper"

    My "How I Started" columns
  • LongacreLongacre Posts: 16,717 ✭✭✭
    I put a roll into circulation, and thepeople that I gave them to looked at me funny. I have not received one yet in change.
    Always took candy from strangers
    Didn't wanna get me no trade
    Never want to be like papa
    Working for the boss every night and day
    --"Happy", by the Rolling Stones (1972)
  • ShamikaShamika Posts: 18,785 ✭✭✭✭

    I've yet to see one.

    Buyer and seller of vintage coin boards!
  • ZoinsZoins Posts: 34,401 ✭✭✭✭✭
    I wonder if asking for them would make a difference. My bank doesn't give change in dollar coins unless they are specifically requested. Maybe stores are the same way?

    A store probably wouldn't want to take the chance of annoying a customer, just like the banks.
  • StrikeOutXXXStrikeOutXXX Posts: 3,352 ✭✭✭✭✭
    I got my first one as change yesterday - but it was at a coin show, so doesn't really count image

    The business owners I know said they just put them in their night deposit bags each night if they get any, primarily because they don't have a place for them in the till and most customers don't want them when they do try to hand them out. The only place I've seen them used is our American Legion - why.... They don't accept pennies, they use the 4th change slot for the "Free Drink" chips, and just leave them in there when they get them (usually from me).
    ------------------------------------------------------------

    "You Suck Award" - February, 2015

    Discoverer of 1919 Mercury Dime DDO - FS-101
  • slothman2000slothman2000 Posts: 952 ✭✭✭
    I'll bet you will be seeing them in the Post Office Stamp Machine change bin before you know it........
  • clw54clw54 Posts: 3,815 ✭✭✭
    I've gotten a few in change, but only because I routinely ask for dollar coins in change. I've never specifically asked for a GW, however. Sometimes it's what they have.
  • You won't ever see these in circulation.

    However, I do have a personal theory that the mint would like the US paper dollar cancelled. And one way to do this is to mint about 20 billion coin dollars and have them overflowing in the vaults, with no precious metal value to speak of that can be melted, so they can take this bit of info to Congress and lobby for the change. At this point they will be faced with the prospect of a) building more buildings to store these coins b) giving them away for free or c) finally doing away with the paper dollar so the dollar coins will circulate

  • FullStrikeFullStrike Posts: 4,353 ✭✭✭


    << <i>I'll bet you will be seeing them in the Post Office Stamp Machine change bin before you know it........ >>



    I already got change with GW's about a month ago. One Sac in the group had me thinking I'd found a plain - edge GW.

    This Presidential series has just begun. Give it some time before writing off the circulating potential of 4 new coins per year over a long period of time.
  • skier07skier07 Posts: 4,387 ✭✭✭✭✭
    When I'm shopping I'll periodically ask the cashier if they have any. About 5% of the time they may have a few in their register.

    Here in So. Cal. the only bank that has new rolls is Bank of America. I've gone to Wells Fargo, Wash. Mutual, and a few other banks
    and none of them have any.
    Bruce
  • SwampboySwampboy Posts: 13,114 ✭✭✭✭✭


    << <i>When I'm shopping I'll periodically ask the cashier if they have any. About 5% of the time they may have a few in their register.

    Here in So. Cal. the only bank that has new rolls is Bank of America. I've gone to Wells Fargo, Wash. Mutual, and a few other banks
    and none of them have any.
    Bruce >>



    Same in WA State.
    Just Bank of America and they have lots.
    Put alot of Ds in circulation in Fla this week.

    "Inspiration exists, but it has to find you working" Pablo Picasso



  • << <i>or else I would have seen one in circulation by now. They will be worth $1image >>




    I have recieved a few in change in the last week
  • I spend on average $50-$100 per day in GWs.
    Between USPS, meals, gas, grocery store, etc. it really mounts up.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>I think stores and stuff are just turning them back into the bank instead of giving them out in change. >>

    Around here, there are so few being used that the cashiers seem to be buying them out of the till in order to save them.

    Dollar coins won't ever be used until businesses start getting them at the bank themselves and handing them out in change. People don't go to the bank to get pennies, nickels, dimes or quarters to spend- they get those coins in change when they buy stuff. Why would anyone think dollar coins would be any different?
  • JRoccoJRocco Posts: 14,277 ✭✭✭✭✭
    I have still not seen one, other than in pics.

    Maybe I should go out and buy a few ubber goober slabbed examples because they will be worth a fortune in a few years...
    imageimageimage
    Some coins are just plain "Interesting"
  • notwilightnotwilight Posts: 12,864 ✭✭✭
    I spend a lot of them at the cafeteria at work. The sometimes have one or two left in the drawer when I come thru the next time but generally no so I asked and they say people see them and ask to buy them. --Jerry
  • LincolnCentManLincolnCentMan Posts: 5,347 ✭✭✭✭
    I've spent about 90 of them so far. I havent gotten any in change.

    -David
  • DesertRatDesertRat Posts: 1,791
    the only time I ever get a dollar coin i if I ride the train or buy stamps from the post office vending machine
  • derrybderryb Posts: 37,682 ✭✭✭✭✭
    I predict the mint will have to come up with more marketing gimmicks like the no edge lettering GW to create a continuous demand for the prezzy dollars.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

  • MercuryMercury Posts: 1,052 ✭✭✭✭
    I have spent around $150 so far and have not had any problems. Today I had a Sonic Carhop tell me they were cool when I tipped her with them. However, I do think from her reaction that they will be saved rather than spent. I am trying to do my part and I am spending as many as I can. However, I am only spending them as I would dollars. Meaning if something is $12.00 I give the cashier a ten dollar bill and two dollar cons, rather than 12 dollar coins. I do want to spend them and try and get them into circulation, but I do not want to upset anyone by spending a bunch of them in one place. If this works out it will take time for business to get used to these new coins and I do not want to sour them so early on.
    Collecting Peace Dollars and Modern Crap.


  • << <i>I have spent around $150 so far and have not had any problems. Today I had a Sonic Carhop tell me they were cool when I tipped her with them. However, I do think from her reaction that they will be saved rather than spent. I am trying to do my part and I am spending as many as I can. However, I am only spending them as I would dollars. Meaning if something is $12.00 I give the cashier a ten dollar bill and two dollar cons, rather than 12 dollar coins. I do want to spend them and try and get them into circulation, but I do not want to upset anyone by spending a bunch of them in one place. If this works out it will take time for business to get used to these new coins and I do not want to sour them so early on. >>


    But they are going to bag them up and put them right into the night drop at the bank... Spending coins isn't going to cause them to circulate. You'd need many willing participants for that.
  • MercuryMercury Posts: 1,052 ✭✭✭✭
    Well, I am doing what I can. I can't force people to take them and spend them. I can only spend them myself.

    Mercury
    Collecting Peace Dollars and Modern Crap.
  • SlangNRoxSlangNRox Posts: 774 ✭✭
    I've spent around $200 so far. On my last trip they didn't have any so I got $200 in susan b and sacs. Its much easier to reach into my pocked to pay for lunch than it is to open up my wallet.
  • tsacchtsacch Posts: 2,929 ✭✭✭
    .......and thats why they are worth squat in my opinion.
    Family, kids, coins, sports (playing not watching), jet skiing, wakeboarding, Big Air....no one ever got hurt in the air....its the sudden stop that hurts. I hate Hurricane Sandy. I hate FEMA and i hate the blasted insurance companies.
  • 19Lyds19Lyds Posts: 26,492 ✭✭✭✭
    If merchants do not start giving these in change then the program will die on the vine and we'll be looking at low mintages in the year 2008 to the end of the program.

    People are just not willing to accept these for whatever reasons other than as a collectible/keepsake/momento/curiosity/whatever! I asked the cashier at work why she never gave them out and she said that nobody really wanted them!

    However, if Congress would eliminate the paper buck, then folks would be forced to use them! I think if Congress really wants this program to fly then they will eliminate the dollar bill. Its not a question of if but only a question of when. They have been testing the waters with all the currency changes in the past few years so I really do not see why they won't get rid of it.
    I decided to change calling the bathroom the John and renamed it the Jim. I feel so much better saying I went to the Jim this morning.



    The name is LEE!
  • I only have 3. And I had to ask for them when cashing my paycheck.
    The cashier had to get an envlope out, to give them to me. And this was at a bank.

    Are ATMs a problem to ending the paper buck? Or are most ATM transactions limited to 10s and 20s?

    I didn't spend them yet, but I'm not hoarding them either.
    (Old man) Look I had a lovely supper, and all I said to my wife was, “That piece of halibut was good enough for Jehovah”.

    (Priest) BLASPHEMY he said it again, did you hear him?
  • I'm keeping one as a pocket piece.

    image
  • I've said it before, and I'll say it again. You will be getting these Pres. dollars in the stamp machine at the Post Office for years... I'm still getting Susan B. Anthony and Sackajablowmes at the local P.O.
    ...and people hate them, they hate heavy change. I sit there and laugh when folks pay with $20 for 20 stamps and get 13 Dollar coins, they freak out. People love their dollar bills.
  • sumnomsumnom Posts: 5,963 ✭✭✭
    Some comments:

    1) Every cash register I see has a space currently being used for coin rolls and paper clips that could be used for dollars.

    2) Wells Fargo in Seattle, WA has plenty of dollars. This has consistently been the case since 2000.

    3) Not everyone hates dollar coins. There are plenty of us who like them. And, I am not sure why anyone would think they are "heavy." I can have five to ten in my pocket and not even feel the weight at all. I mean, how many ounces could that be? Is it really that difficult to carry a few coins in one's pocket? I find them convenient and prefer them to dollar bills.

    4) Boba Fett, why do you use the term "Sackajablowmes" to refer to Sacagawea dollars?


  • I don't find them heavy, either. I didn't find the Ikes heavy for that matter, in fact I prefer the larger dollar size. But I can see how anything weighing over a gram would have negative consequences for teenagers with their pants already falling down as it is. I think we're in the final stages of the "cash" society--the entire cash system is being phased out. If they do away with the paper buck, it will only be short lived, because their intention is to do away with currency completely. The future is microchips, credit/debit cards, paypass swipes, national ID/payment cards, and implanted wrist chips that carry financial data. Those that insist on playing with coins and currency will be the first round ushered into the FEMA camps.
  • I find them very handy to keep in the side compartment on drivers side door.
    I keep 50-100 there for use at drive thru windows, car washes, etc.
    I just cover them with a slip of paper and find it very handy to have them where I can reach them without trying to get into my pocket to pull out small amounts of money while wearing a seatbelt.


  • << <i>the mint would like the US paper dollar cancelled. And one way to do this is to mint about 20 billion coin dollars and have them overflowing in the vaults, >>


    And if you are the Mint Director after the first year you get call up before Congress to explain why you have spent X billions of dollars (more than your budget, and taking the Mint from being in the Black to being in the red) on making all of these coins that the Fed has not ordered And you get sacked. Congress doesn't mind overspending when they do it, but don't like it when someone else does it.





    << <i>I've said it before, and I'll say it again. You will be getting these Pres. dollars in the stamp machine at the Post Office for years >>


    And we will remind you again that within three years the PO plans on having all of the stamp machines phased out and gone.
  • dtkk49adtkk49a Posts: 2,490 ✭✭✭
    I spent two at the 7-11 today. No Problem.

    If the stores don't distribute them, you will not see them.
    Follow me - Cards_and_Coins on Instagram



    They call me "Pack the Ripper"
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>And if you are the Mint Director after the first year you get call up before Congress to explain why you have spent X billions of dollars (more than your budget, and taking the Mint from being in the Black to being in the red) on making all of these coins that the Fed has not ordered And you get sacked. Congress doesn't mind overspending when they do it, but don't like it when someone else does it. >>

    Congress ordered the mint to produce those coins...

    The Presidential $1 Coin Program is part of an Act of Congress, Pub.L. 109-145, 119 Stat. 2664 (December 22, 2005), which directs the United States Mint to produce $1 coins with engravings of the United States Presidents on the obverse.

  • That's a summary and an incorrect one. The law authorizes their coinage, it does not mandate it except to the extent that if dollar coins are struck they will bear the President design. (Or Sacagawea)

    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.'.


    Full text of the act.
    Although labeled S.1047, this is the version that was passed by both the House nad the Senate and signed by the President.
  • JJMJJM Posts: 8,089 ✭✭✭✭✭
    I get 2 or 3 a day in the register here in Delaware
    👍BST's erickso1,cone10,MICHAELDIXON,TennesseeDave,p8nt,jmdm1194,RWW,robkool,Ahrensdad,Timbuk3,Downtown1974,bigjpst,mustanggt,Yorkshireman,idratherbgardening,SurfinxHI,derryb,masscrew,Walkerguy21D,MJ1927,sniocsu,Coll3tor,doubleeagle07,luciobar1980,PerryHall,SNMAM,mbcoin,liefgold,keyman64,maprince230,TorinoCobra71,RB1026,Weiss,LukeMarshall,Wingsrule,Silveryfire, pointfivezero,IKE1964,AL410, Tdec1000, AnkurJ,guitarwes,Type2,Bp777,jfoot113,JWP,mattniss,dantheman984,jclovescoins,Collectorcoins,Weather11am,Namvet69,kansasman,Bruce7789,ADG,Larrob37,Waverly, justindan
  • BECOKABECOKA Posts: 16,961 ✭✭✭
    I have spent about $300 worth and have yet to get one back as change. Not sure about other banks in the bay area but I got a 1K brick from BofA in Sunnyvale no problem.
  • mrpotatoheaddmrpotatoheadd Posts: 7,576 ✭✭✭


    << <i>That's a summary and an incorrect one. The law authorizes their coinage, it does not mandate it except to the extent that if dollar coins are struck they will bear the President design. (Or Sacagawea) >>

    Your link doesn't work, so I can't comment on it. What I have found is this:

    S.1047
    Presidential $1 Coin Act of 2005 (Enrolled as Agreed to or Passed by Both House and Senate)

    One Hundred Ninth Congress
    of the
    United States of America

    AT THE FIRST SESSION
    Begun and held at the City of Washington on Tuesday,

    the fourth day of January, two thousand and five

    An Act

    To require the Secretary of the Treasury to mint coins in commemoration of each of the Nation's past Presidents and their spouses, respectively, to improve circulation of the $1 coin, to create a new bullion coin, and for other purposes.


    (bold added)

    Now, being neither a lawyer, politician nor mindreader, I guess I'm not necessarily qualified to be able to state definitevely what Congress had in mind, but "To require the Secretary of the Treasury to mint coins in commemoration of each of the Nation's past Presidents" sounds an awful lot like an order to me. image
  • To those who think they'll be found in USPS stamp machines for a long time to come, think again...


    Post Office to Eliminate Stamp Machines - From the Washington Post

    By RANDOLPH E. SCHMID
    The Associated Press
    Wednesday, October 18, 2006; 2:12 PM

    WASHINGTON -- Postage stamps can be purchased by mail, at the supermarket, even from many bank cash machines. But there's one place you won't be able to get them in a few years _ vending machines at the post office. The U.S. Postal Service plans to eliminate its 23,000 vending machines by 2010, the agency said in a recent internal memo.
    Postal spokeswoman Yvonne Yoerger on Wednesday confirmed the decision, first reported by Linn's Stamp News.









    Bob
  • Just like Australia and Canada, it will take killing the $1 note to get the coin to circulate. They should be using the interim period to design and produce a smaller $2 coin, so the eventual switchover can be to $1 and $2 coins.
  • I toss about 3 rolls a week into circulation. Today was the first day I gave out a GW and they knew what it was. I still have not received one in change.
  • OverdateOverdate Posts: 7,159 ✭✭✭✭✭

    (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).

    Any design??

    My Adolph A. Weinman signature :)

  • sumnomsumnom Posts: 5,963 ✭✭✭
    Does this mean we might be able to forget this presidential nonsense and just mint sacs?

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file