2007 Sacagawea Golden Dollars Will Not Be Struck For Circulation

FLBuffaloHunter · September 4, 2007 7:01PM

From a article in the September 17th Coin World, 2007 will be the first time since 2001 the Sacagawea Golden dollars will be struck for circulation as required be the Presidential Coin Act which mandates one Sacagawea be struck and placed into circulation for every three Presidential dollars released. Given current minatge figures for the Presidential dollars, the legislation would require at least 300,000,000 Sacagawea's be struck this year for circulation.

<< 2007 marks the first year since 2001, the second year of production, that circulation-quality Sacagawea dollars are being struck not only for numismatic sales, but for distribution into circulation. Provisions of the Presidential $1 Coin Act of 2005 require one Sacagawea dollar to be struck and placed into circulation for every three Presidential dollars struck and released.
Federal Reserve officials have stated, however, that their existing inventories of Sacagawea dollars are sufficient to meet the current demand for the coins. Individual banks may not be able to place orders for 2007 Sacagawea dollars, like they can for each new Presidential dollar.
So far, the only 2007 Sacagawea dollars struck have been designated for collector sales. Hundreds of millions of Sacagawea dollars are scheduled to be struck sometime this fall to meet the congressional mandate. >>

[EDIT]Now the Mint is claiming they will not be struck for circulation:

<< Mint will not produce 2007 circulating Sacagawea $1s. Claims 2007 bill supersedes Presidential $1 Coin Act.

U.S. Mint officials will not strike circulating Sacagawea dollars in 2007 and 2008 as mandated by a 2005 act, saying a 2007 law supersedes the earlier act. >>

[/EDIT]
Link

Eastwood4450 · September 4, 2007 10:06PM

What a waste. These will be sitting in the mint for a long time.

<< Individual banks may not be able to place orders for 2007 Sacagawea dollars, like they can for each new Presidential dollar.[/Q}

They think they'll sell 300,000,000 on the mint website? How the heck are we supposed to get these? They must have plenty of 2000,2001 sitting around they want to get used up first.

AlixTCat · September 4, 2007 10:47PM

Utter rubbish! Hard to believe the stupidity of politicians and lobbyists.

Jonathan

Snowman24 · September 4, 2007 11:40PM

probably years down the road with all the Sacs and Pres being made - someone in gov't will have an idea of eliminating or reducing the quanitity of dollar bills and using these already sitting around - hmmmmmmm ???

maybe the Federal Reserve will crank up the presses to make more 2 dollars bills

with the 300 million Sacs ready to be made -
i wonder if it will be a 50/50 split between Phil & Denver or which mint it closet to the vault - LOL

Snowman

AUandAG · September 5, 2007 12:47AM

Anybody know how many Sacs have been minted this year? A newspaper article I saw this morning
says that only 7.5 million have been minted this year. This is far short of the mandate, is it not?
Hmmmmmm,
bob

Zoins · September 5, 2007 1:01AM

<< Utter rubbish! Hard to believe the stupidity of politicians and lobbyists. >>

If you examine their motivations (i.e. how they stay in power), they might not look stupid ... excepting bathroom behavior of course.

renman95 · September 5, 2007 2:00AM

<< Utter rubbish! Hard to believe the stupidity of politicians and lobbyists.

Jonathan >>

Not really.

Ren

RBinTex · September 5, 2007 2:06AM

MacCrimmon · September 5, 2007 2:19AM

Send them to Ecuador, Senor.

sumnom · September 5, 2007 2:46AM

I am glad to see the sacs being produced for circulation. The sacs are the only thing redeemable about the pres dollar program.

Away with the dollar bill, I say!

toreador74 · September 5, 2007 6:41AM

The politicians say this will help encourage consumers to spend dollar coins. The only way to do that is to eliminate the dollar bill and two-dollar bill, and introduce two-dollar coins to circulate alongside the Sacs and Presidents.

sumnom · September 5, 2007 7:48AM

I don't think the design is what keeps people from using the dollar coin more frequently.

Eastwood4450 · September 5, 2007 10:17AM

You're right, you can't buy anything with a dollar anymore like in the olden days. Time to make $20 coins. Think of all the money the mint would make when they left the bill circulating and changed the coin design 4X a year for collectors.

sumnom · September 6, 2007 3:40AM

How many sac are sitting around in the vaults? I have not seen any new 2000s in a long while and even the 2001s that I see know have been circulated.

tahoe98 · September 6, 2007 3:40AM

i understand that the 2007's won't make it to the banks until the old sacs are used up that are sitting in the federal reserve.

FLBuffaloHunter · September 6, 2007 3:45AM

I think they will mix them with the 2000 - 2001 Sacagawea's and SBA's

sumnom · October 18, 2007 3:12AM

It doesn't seem like many 2007s are being produced yet

FredWeinberg · October 18, 2007 3:31AM

I think CW will have an article this week about
some type of legislation that eliminated the
"One for 3" Striking requirements.

(I believe it had to do with the "New Rev" for 2009 legislature)

It appears that 2007 Sacs will be sold by the
roll and bag, if ordered from the Mint, as in the
past 5 years or so.

TwoSides2aCoin · October 18, 2007 3:35AM

You cheapies ain't gettin' our beloved sacs for face value

fc · October 18, 2007 3:38AM

You're right, you can't buy anything with a dollar anymore like in the olden days. Time to make $20 coins.

anybody with a brain should be fighting to bring silver back to our
coinage.

a higher denomination coin could allow it to happen.

but i guess people like collecting zinc/copper coated with some nickel/copper that are basically worthless.

i know my safe at home is spilling over with copper and zinc :-|

tahoe98 · October 18, 2007 3:39AM

get the sacs (saks) now before the reverse change

sumnom · October 18, 2007 4:13AM

They're going to rescind the 1 for three law? Say it ain't so! How depressing.

rec78 · October 18, 2007 4:26AM

Quite rediculous if you ask me. Does that mean that they have to mint 300,000,000 sacs a year for each year that the presidential coins are made? Stupid,stupid,stupid. They will have to increase reserve capacity to hold all those coins that will never reach circulation. I simply cannot imagine 3 billion sacs just sitting in reserve vaults ten years from now. Why mint them if you aren't going to use them? I think they will change this dumb requirement. Bob
edited to add--> BTW--i did get a 2007-D sac from a change machine about 3 months ago - so some are in circulation.

sumnom · October 18, 2007 4:28AM

There were those of us who were hoping this was a prelude to the discontinuation of the dollar bill. I guess it gonna happen now.

pmac · October 18, 2007 4:34AM

When will the public receive these for circulation? The only way is to scrap printing the one dollar bill such as the Canadians have done. This situation is economical for the government where the coins outlast the bills and in the long run, cost less to produce.

sumnom · October 18, 2007 4:36AM

I noticed that Canada did not drop off the face of the earth after the loonie was introduced. I bet we here in the US coul do it as well, with a requisite period of whining, of course.

Rec, that's a nice circ find!

garsmith · October 19, 2007 12:23AM

You wont see metal dollars in open circulation until they pull the plug on paper dollars

tahoe98 · October 19, 2007 5:58AM

<< They're going to rescind the 1 for three law? Say it ain't so! How depressing. >>

makes you wonder if they know what they are doing?

Griv · October 19, 2007 6:14AM

That would be great! Why destroy one of the very best modern dollar series by minting so many that they are worthless to collectors. Not onlly that, why waste all that taxpayer money for nothing. After I go through bags or rolls I like to keep a hand full in my car so I can spend it here and there as needed. I love to see people's faces light up when they see one as they almost never have actually seen one.

sumnom · October 19, 2007 9:02AM

My interest in collecting Sacs is entirely unrelated to how many were minted. Just because there are a billion 2000 sacs doesn't mean they are worthless to me as a collector.

TwoSides2aCoin · October 19, 2007 9:05AM

<< My interest in collecting Sacs is entirely unrelated to how many were minted. Just because there are a billion 2000 sacs doesn't mean they are worthless to me as a collector. >>

I agree. That's why I pay a premium and the only reason. They are an interesting coin. A roll of each mint mark per year still only yields me MS67 at best. For this, they stay raw.

sumnom · October 19, 2007 9:09AM

You're right. I think we all need to come to terms with the objective fact that sacs are great! It's a great coin and an outright shame that congress wants to kill the only circulating US coin of any real aesthetic value. These new reverses had better be mind blowing if they are replacing Rogers' design after only eight years.

Griv · October 19, 2007 9:12AM

I agree, I maintain some pretty strong Sac sets but what I mean is don't mint 300 million for heaven's sake. I would still collect them but with 300M out there I certainly wouldn't pay more than $7 for a MS69 BS. IMO.

sumnom · October 19, 2007 9:14AM

I had been hoping that the ramped up mintage was in preparation for the end of the dollar bill but it doesn't look like that will be happeneing anytime soon.

I also thought that this law would guarantee the sac for a few more years but now that the new reverses will be coming into play, there will be no more sac, at least as I know it, to preserve.

FLBuffaloHunter · October 23, 2007 3:31AM

Now the Mint is claiming they will not be struck for circulation:

<< Mint will not produce 2007 circulating Sacagawea $1s. Claims 2007 bill supersedes Presidential $1 Coin Act.

U.S. Mint officials will not strike circulating Sacagawea dollars in 2007 and 2008 as mandated by a 2005 act, saying a 2007 law supersedes the earlier act. >>

Link

sumnom · October 23, 2007 3:34AM

Well, I guess that's that.

I really wonder what kind of discussions have been going on behind closed doors.

19Lyds · October 23, 2007 4:04AM

Well that link is totally worthless with out an online CoinWorld subscription.

sumnom · October 23, 2007 4:07AM

Yeah, I couldn't get in either.

Bochiman · October 23, 2007 4:11AM

Just goes to show you how things get done in office.....promise something stupid to get others to agree to your stupid bill, then later, rescind your promise with another new stupid bill.

If the congressmen/women spent half the time doing actual work to benefit folks, instead of pork barrels and other selfish special interests, then we wouldn't have so many problems facing us (roads, unemployment, poor, etc)

Silverstate · October 23, 2007 4:14AM

Silver coinage again?

Does that mean we would need a $5 Silver coin or ?

Most don't use the gold dollars that are out...

FLBuffaloHunter · October 23, 2007 4:19AM

The November 5th Coin World article basically says Mint officials claim that the provision in the Native American $1 Coin Act that states, "The number of $1 coins minted and issued in a year with the Sacagawea-design on the obverse shall be not less than 20 percent of the total number of $1 coins minted and issued in such year," supersedes the earlier requirement. That would represent one Sacagawea dollar for every four Presidential dollars struck and distributed for circulation.

It also says, the only circulation-quality 2007 Sacagawea dollars will be the 3.92 million Denver Mint strikes and 3.64 million Philadelphia business strikes the Mint struck earlier in the year for sale to collectors.

sumnom · October 23, 2007 4:21AM

I weep.

FLBuffaloHunter · October 23, 2007 4:23AM

If you collect Sacagawea's I think it's actually better since the mintage will be much smaller now than had they also been struck for circulation.

Pentimento · October 23, 2007 4:23AM

Can someone explain the change? I thought the first law said that 1/4 of small dollars should be Sacs, and the new law says 1/5 should be Sacs... right? Either way don't they need to make about 200 million of these things pronto?

BobaFett72 · October 23, 2007 4:24AM

bottom line is people prefer paper and plastic over heavy jingling coins

CaptHenway · October 23, 2007 4:26AM

Perhaps the Mint believe that the new law suspends the need to strike the 20% Sacagawea until the new reverse designs begin in 2009. The story is rather vague about their rationale for the change.
TD
P.S.: Did you notice that the same issue also says that Legacy Proof Sets go on sale Oct. 25?

itsnotjustme · October 23, 2007 4:41AM

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.

19Lyds · October 23, 2007 6:14AM

<< If you collect Sacagawea's I think it's actually better since the mintage will be much smaller now than had they also been struck for circulation. >>

Yeah, but not small enough. 2005 is still the skinney year and since these all go only to collectors, they don't carry much premium other than, "well they only made 2.52 million of these!" "Oh really, only 2.52 MILLION?"

"Yeah!" "Just a whimpy little measely 2,520,000! and I got these here 25!"

FLBuffaloHunter · October 23, 2007 6:24AM

IMO, being sold only to collectors definetly keeps the pouplation total of higher graded coins lower than also having the same coins being struck by the 100's of millions for circulation as well. Like in the case of the Presidential dollars in which only the top population grade commands any kind of significant premium.

dcarr · October 23, 2007 6:26AM

<< bottom line is people prefer paper and plastic over heavy jingling coins >>

I don't.

Gemineye · October 23, 2007 8:16AM

<< 

<< If you collect Sacagawea's I think it's actually better since the mintage will be much smaller now than had they also been struck for circulation. >>

Yeah, but not small enough. 2005 is still the skinney year and since these all go only to collectors, they don't carry much premium other than, "well they only made 2.52 million of these!" "Oh really, only 2.52 MILLION?"

"Yeah!" "Just a whimpy little measely 2,520,000! and I got these here 25!" >>

That's right...and I got's another 25 each of them suckers of P and D plus one of each in a holder....so keep countin'......

yea I know got's not a word... but I got's me them Sackies......

2007 Sacagawea Golden Dollars Will Not Be Struck For Circulation

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