Presidential dollar minting decreasing

Eastwood4450 · August 28, 2007 10:23PM

The Fed distributed 300 million George Washington dollars in February, 220 million John Adams dollars in May and 170 million Jeffersons this month. In November, it’s expected, there will be fewer still for James Madison.
Link to full article

Not looking too good for the presidents. Could reach Sac minting levels in a few years or less.

COINB0Y · August 28, 2007 10:30PM

It's a shame. These $1 coins could really work if they took out the $1 Paper.

I was in Canada for a few days. What a wonderful coin/bill combination they have when you make a transaction. No Paper untill you hit $5, but the key to the system is the $2 Bi-Metal Coin which is beautiful and "hoardable". It is one of my most favorite coins.

I suspect Pres Mintage will go the way of the Sacs.

I thought the definition of insanity was doing something that does not work and then repeating it again and again.

Again, what a shame.

RedStorm · August 28, 2007 10:35PM

Absent the end of the dollar bill, the production as early as next year will probably drop to around 5 million or so. They don't circulate so they aren't being aggresively collected by the masses because the masses don't see them! The Mint's idea that 'if you stamp them they will come' is a dud if the average Joe has to go hound his financial institution to get his hands on them.

19Lyds · August 28, 2007 10:52PM

Look for them to continue to decrease production as more and more millions end up in the "Dead End" vaults at the Fed!

When I tried to get the Jefferson Dollars, I went to my favorite bank that had given me all I wanted and was told that they had to limit me to two rolls! "Why?" I asked. Because they limited their order do to a lack of interest by the general public!

The end result will be that these will get more and more difficult to obtain unless you want to pay the inflated prices for the mint rolls with every release!

For there to be success in this program, the paper buck needs to go bye bye and I just don't think that this is going to happen anytime soon. Its possible, just not likely!

ebaytrader · August 28, 2007 10:55PM

Just ship 'em to Ecuador. They'll use them. At least their kids will know the US Presidents.

TwoSides2aCoin · August 28, 2007 11:00PM

I predicted before the initial minting that these would be like the Sacagawea after the first year.
Soon, you will only be able to get them directly from the mint at a 40% mark up, plus shipping and handling. I don't know if anyone believed me or agreed with me then, but I still feel the same way.

SNMAN · August 28, 2007 11:01PM

<< Just ship 'em to Ecuador. They'll use them. At least their kids will know the US Presidents. >>

or some other country.......does not seem popular in this country.

slipgate · August 28, 2007 11:26PM

<< It's a shame. These $1 coins could really work if they took out the $1 Paper.

I was in Canada for a few days. What a wonderful coin/bill combination they have when you make a transaction. No Paper untill you hit $5, but the key to the system is the $2 Bi-Metal Coin which is beautiful and "hoardable". It is one of my most favorite coins.

I suspect Pres Mintage will go the way of the Sacs.

I thought the definition of insanity was doing something that does not work and then repeating it again and again.

Again, what a shame.

>>

+1 - if they had made the pres "dollar" a 2 dollar coin, it would have been used more. Or better yet, a $5 coin. No one really uses $1 coins because you can't get much for a dollar so you typically give the clerk a $5 or $10 bill. I am all for larger denomination coins!

LanLord · August 28, 2007 11:27PM

<< It's a shame. These $1 coins could really work if they took out the $1 Paper. I was in Canada for a few days. What a wonderful coin/bill combination they have when you make a transaction. No Paper untill you hit $5, but the key to the system is the $2 Bi-Metal Coin which is beautiful and "hoardable". It is one of my most favorite coins. I suspect Pres Mintage will go the way of the Sacs. I thought the definition of insanity was doing something that does not work and then repeating it again and again. Again, what a shame.

>>

The key to insanity is doing the same thing over and over while expetcting different results

And yes it's a shame about the dollar coins versus the rags.

FLBuffaloHunter · August 28, 2007 11:28PM

The Mint knew in advance more George Washington dollars would be produced than any other of the remaining Presidential dollars this year being he was the first and is the most popular president by far. Updated figures show production is on target with what the Mint hand anticipated ~300M for GW and ~200M for the remaining Presidents this year.

Link

raguse8706 · August 28, 2007 11:55PM

<< I was in Canada for a few days. What a wonderful coin/bill combination they have when you make a transaction. No Paper untill you hit $5, but the key to the system is the $2 Bi-Metal Coin which is beautiful and "hoardable". It is one of my most favorite coins. >>

I go to Canada a couple of times each year and I find the $1 and $2 coin system annoying. After a few days you end up having a pocket full of coins worth a good amount of money. Then when you want to turn them into the bank so you can carry cash instead of 10 pounds of change, they have no coin counters. You have to roll the coins yourself, or go to a coinstar machine at a grocery store and get hit with fee.

ricko · August 29, 2007 12:24AM

The solution is simple, the means to implement the solution complex. Congress feels it would be highly unpopular.. and elections are coming. Cheers, RickO

TwoSides2aCoin · August 29, 2007 12:45AM

A simple fix would be for our senators and congressmen to pass the law restricting limits on coins. Business strikes should not PROFIT the mint. They should be struck for commerce. Old worn coins should be sent back to the mint or a smelter and new coins made. This will remove WIDGETS from our system and return coins to the business of COMMERCE. Selling BUSINESS struck coins is UNETHICAL and Criminal Behaviour as it were. (in my opinion). Taxes are the revenue of our government, not the MONEY they manufacture ,except for special issues and commemoratives.

Since coins eventually go to dealers, we novice dealers, parttime dealers and major players and widget collectors could do a great service to coin collecting by removing coins from the market that are not that collectible or are HEAVY in population ?
We destroy worn out paper money, why not worn out business strikes with a bounty on SILVER/NICKEL/COPPER/ZINC and Manganese BRASS ?

Just pondering

tahoe98 · August 29, 2007 6:16AM

<< Just ship 'em to Ecuador. They'll use them. At least their kids will know the US Presidents. >>

tahoe98 · August 29, 2007 6:19AM

<< The solution is simple, the means to implement the solution complex. Congress feels it would be highly unpopular.. and elections are coming. Cheers, RickO >>

ricko

COINB0Y · August 29, 2007 6:26AM

over while expetcting different results

That's it! I knew I forgot something in that! Thanks!

Eastwood4450 · August 29, 2007 9:36PM

>>

+1 - if they had made the pres "dollar" a 2 dollar coin, it would have been used more. Or better yet, a $5 coin. No one really uses $1 coins because you can't get much for a dollar so you typically give the clerk a $5 or $10 bill. I am all for larger denomination coins! >>

I agree 100% here, coins would be more popular if you could acually buy something with them. Anything lower than the $20 is becoming change with ATMs spitting them out. Even the bank teller gave me all $20s for close to a $300 check I cashed.

I went to the bank a week after the release and said they hadn't gotten any Jeffersons yet. They did the same with the Washington and Adams dollars. I think they wait until enough people ask for them and then put an order in.

tahoe98 · August 30, 2007 4:25AM

i heard they might start putting them in cigarette packs like they once did with cent coins.

i am

Presidential dollar minting decreasing

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