Presidential Dollars And The Banks

I couldn't agree more, the US Mint has a multitude of free promotional material available to banks but the banks do not seem to be interested, I guess they are/were too busy writing sub-prime loans

The US Mint certainly sees the low distribution as a problem and they have introduced a Direct Ship program, you can get $250-500 worth of dollars delivered to your door for face value and the Mint picks up the shipping tab.

I did the direct ship program and bought 250 Sacagawea dollars.

I have had a great time spending them.

I have about 12 left.

I especially enjoy using them at fast food drive-ups, where the typical question is: "These are dollars, right?"

Spending BU Native American dollar coins is fun indeed.

"You got those gambling?" (Yes, there are plenty of coin slot machines in Central City/Blackhawk, Colorado, they're even been promoting the "Penny Slots" on TV again in this economy!)

"Are you sure you want to spend them? They're uncirculated!"

"Where's the date?"

The best was an older woman (co-owner of the Chinese restaurant I was eating at) who asked me if I had any more of them! I sold her a BU roll. She asked me where I got them (I said "The Denver Mint"). She said "The banks don't have these Dollars", and I said "That's right, I don't think they can order them from the Federal reserve." I also told her about the Direct Ship program, and wrote it down for her.

this direct ship program. they say 'circulating' dollars. Do they mean the coin is meant for circulation not numismatics or are they circulated coins? are they fresh from the mint?

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I used to go to the post office and buy one stamp out of the machine and get change of a twenty. I got a proof this way once. Unfortunately the post offices around here quit selling single stamps out of the machines some time ago and the last time I was there they had the machine unplugged and I was told the machine was going to be removed (getting too costly to maintain).

In 2007 when the President dollar program was begun it was announced that the Post office would be removing all the stamp machines within three years. I thought it was an incredibly stupid move because they were always talking about how to get more dollars into circulation, and then they announce they are removing the machines that were actually having the most success in geting the coins out there.



You have to know the terminology the Mint uses. When the Mint speaks of Proofs they mean the same thing we do. When they speak of Uncirculated coins they are talking about the coins used for the Mint sets. When they say "circulated" or "circulating" coins they are talking about the regular business strike production coins that they make and which we call uncirculated or Mint State coins.

I think there is a 3rd party involved. Banks have to "buy" their money from a "vault". The "vault" receives their coins from the mint(s) and their paper from the "fed/BEP".

The coin vaults then roll the bagged coins they receive and stock inventory until the banks they distribute to request coins. Then there armoured couriers return the bank bags which are then re-rolled and sent back into circulation when banks need money again.

Thus you have the cycle of "coin" life.

And per Fed policy when banks order coins the send out circulated coins first, then older Uncirculated coins, then lastly new uncirculated coins. That is why it is taking so long for 2009 coins to get out into circulation. Due to the bad economy a lot mor coin has been flowing back to the Fed and it has to be sent out first before the 2009's. (The State Quarters and President dollars have a special program where there is a two week window where the new coins can specifically be ordered. All other coins, and the quarters and dollars outside their time window, are filled under the standard Fed policy.)