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Small Dollar Roll Searching

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New Member
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 Posted 11/04/2021  07:42 am  Show Profile   Bookmark this reply Add Merv4468 to your friends list Get a Link to this Reply
Question...
If most of the later dollar coins are NIFC why are they sent to banks where the general public & small businesses can get them and put them into general everyday circulation?
Merv
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 Posted 11/04/2021  09:07 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
People buy bags or rolls from the mint, sort out the premium high grade coins, then dump the rest at the bank. Profit from the high grade coins covers losses of dumping the others at face.
New Member
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 Posted 11/04/2021  8:23 pm  Show Profile   Bookmark this reply Add Merv4468 to your friends list Get a Link to this Reply
What I mean is why do the mints issue them to the banks to start with if they are not for circulation?
I saw a picture of a mint coin rolls with a President's name on it (earlier in this thread) so I'm thinking it must have come directly from the mint to the bank.
ps
Where have all the roll hunters gone, this thread has gone cold for a few months. (Abducted by aliens?)
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 Posted 11/05/2021  09:32 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
What I mean is why do the mints issue them to the banks to start with if they are not for circulation?
They do not. The Mint only ships circulating coinage to the Federal Reserve when they are ordered. The Fed sends them to the banks, that is, if the banks need coins they get them from the Fed. If the Fed has no coins to give, they order them from the Mint. The recent shortage of half dollars is a good example of an otherwise NIFC coin getting into circulation (the 2021 half dollars everyone seems to be getting in their boxes). The fed ran out of half dollars, so they got some from the Mint.

In the case of small dollars, as far as I know, the Fed has not ordered any since 2012 because they have more than enough on hand to satisfy any need from the banks. So if the Presidential dollar you saw was from before 2012, it was part of the normal distribution. If it was after that, it certainly came from a US Mint purchase that was dumped.
Pillar of the Community
United States
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 Posted 11/05/2021  2:30 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
yes, this.
from 2004-2005 the Fed Reserve starded playing with changing distribution operations.
Around 2012, the Fed Reserve outsourced distribution completely to aromored carriers known as "operators" that run "depots" and do all of the supplying to financial institutions as contractors.

before then you could order specific State Quarter or Presidential dollar coins with your bank, and they would order it from the fed and it would go to the bank. under the new system, the armored carriers give what they have and will not be selective for a particular date or state orpresident, so being able to get a roll of washington or jefferson or whatever ended. you get what you get.

"NIFC" is a misnomer in some cases. Like the Sac dollars, NA dollars and Presidential dollars. these were intended for circulation, but the sac dollar was stopped from 2002-2008 for circulation because too many and no demand. They made the NA dollar for circulation from 2009-2011, 2012 onward that was stopped.
From 2007-2011 they made a lot of Presidential dollars and stopped making those in 2012 because of too many and not enough demand.

these continued on for collectors in bags and rolls bought direct from the mint each year. these 3 series were intended for circulation but due to making too many and not much demand, they just mint some each year for collectors.

A real, NIFC would be the American Innovation Dollar coins. they will not be distributed to banks ever, only sold to collectors direct from the mint, and then they would have to release them to the public. The series is authorized to be minted, it's just not authorized as a circulating coinage. the legislation is written for the minting and issuance of non-circulating coinage for that series. some will get out eventually to circulation though.

The dollar coins aren't popular to hunt, I hunt when I can, but it's usually like $50 or so at a time when I can get to the bank by the train station where a lot of them get turned in. I can't get boxes of halfs or dollars where I am, the banks refuse to deal with them, so I can only get some when people turn them in somewhere.





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 Posted 11/05/2021  2:50 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply
I agree, there is a clear distinction between de facto and de jure NIFC coins, the Innovation dollars being a good example of the latter.
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 Posted 11/08/2021  3:26 pm  Show Profile   Bookmark this reply Add Big-Kingdom to your friends list Get a Link to this Reply
Yes,

Like the American innovations dollar coins, these aren't ever going to turn up in the mint sets from the mint each year, but the NA dollar will, because that was intended for circulation while the AI dollars never were intended for circulation.
if it's in the annual mint set, then it was at least legislated to circulate, even if they don't have a demand to continue to mint it for circulation and have plenty of supply.
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 Posted 11/14/2021  11:50 pm  Show Profile   Check bishftl's eBay Listings Bookmark this reply Add bishftl to your friends list Get a Link to this Reply
bank had $500 in CWR dollars.
took a chance.

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 Posted 01/08/2022  11:42 am  Show Profile   Bookmark this reply Add SilverRoosevelt to your friends list Get a Link to this Reply
From a teller's tray, a 2008-P Sacagawea dollar. I recently bought a Littleton folder for Sacagawea dollars, and I've finally begun assembling the 2000-2008 series. So far, I have 10 out of the 18 circulation strike coins in the set. I hope to complete it by the year's end.
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 Posted 04/18/2022  11:17 am  Show Profile   Bookmark this reply Add luckyrollers to your friends list Get a Link to this Reply
I rarely search $1 rolls. Maybe one or two every other months but I got these in one of the rolls: Found out its called Innovation coins.




But ive been trying to go back to the branch I got this roll from but no luck bc it's really out of my way.
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 Posted 04/18/2022  12:17 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
...I got these in one of the rolls: Found out its called Innovation coins.
Outstanding!
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