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 Replies: 23 / Views: 2,505 |
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New Member
United States
10 Posts |
Hello everyone! I just discovered this site last night and this morning I had some time so I thought I would post some thoughts/research on the new Preidential dollar coin.
Following are some facts and ideas about the Sacagawea and Presidential coins ( many of you know way more than I do I am sure):
1) I believe that only the '00 & '01 Sacs were released for circulation ( about 1.5 billion for '00 and about 134 million for '01 )
2) According to Tom Zeller Jr NY Times "lede" blog, about half the circulating Sacs have gone to Ecuador.
3) By law 1/3 of dollar coins minted must be Sacs.
4) The last year for all stats for the Sacs was 2005 when appx. 10.6 million (all var.)were minted.
5) Assuming a similar number of Sacs for 2007 then about 16 million of the Washinton coin will be minted (10,600,000/67=15.8)
6) This seems to be a small number considering all the hoarding that is going on right now and the liklihood of a lot of the coins going to Ecuador ( those '00 & '01 Sacs are surely looking pretty bad by now!)
Sorry for the long winded post but any of you patient enough to read it please feel free to correct/comment. Your site is great!
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Pillar of the Community
United States
603 Posts |
I believe that I have also read on here that 1/3 of all dollars minted must be sacs, but the number of presidential coins is the set number at around 100 million I think, causing there to be 33 million sacs for the washington coin alone.
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Rest in Peace
United States
3730 Posts |
macs1e5: Welcome to the forum!! I hope you will post your ideas many more times. This is a great forum with many knowledgable, helpful people. I have long had a feeling that Sacagawea dollars might be a good investment. That comes from a person who has never sold a single coin. However, I have put together a complete Sacagawea set, including proofs, and am starting another, They will eventually be passed onto the kids and grandkids. Along with thousands of other people, I will be guilty of acquiring a small hoard of each of the new Presidential dollars as they are released. The primary reason is I want to get in on the "ground floor" in case I sometime decide to put together full sets of the Presidential dollars for kids and grandkids. Again, welcome!!  |
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Pillar of the Community
United States
1203 Posts |
There will be four Presidential dollar coins made this year. G. Washington being the first, and only one fourth of the 100 million that you say will be needed. That makes it 25 million G.Washington coins, and IF the Sac's are to be minted at a rate of 33% of the coins minted, then that would place this figure at only 8.3 million authorized to be minted. This sounds possible as there are millions of these past years coins laying around in the vaults of the federal bank, waiting to be called into circulation (even in S. America). |
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New Member
 United States
10 Posts |
Old Dan, Thanks for your feedback. It seems most put the Presidential coin at around 100 million for 2007 divided between 4 types. Since the Sac is an annual coin the legal mintage would have to be around 33 million which would put the Sac mintage above any of the Prez coins assuming the mintages of each of the 4 would be roughly equal. This seems to support my sleeper coin comment.
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Forum Dad
 United States
24150 Posts |
quote:
That makes it 25 million G.Washington coins, and IF the Sac's are to be minted at a rate of 33% of the coins minted, then that would place this figure at only 8.3 million authorized to be minted.
Don't forget the Sacs are included in the coins minted, you're not including them. quote:
Since the Sac is an annual coin the legal mintage would have to be around 33 million
If the Sacs must be 1/3 of all dollar coins and the Prez is going to 100 million, that puts the total dollar coins at 150 million with the Prez at 100 million and the Sacs at 50 million, not 33 million.  |
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New Member
United States
10 Posts |
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Pillar of the Community
United States
751 Posts |
Bobby is correct, but the assumption about the number of dollar coins minted (150 MM) is just a bit low. Accord to the Mint's numbers, 242,060,000 dollar coins were produced in Jan 07 alone. Assuming that all of these were George Washington, assuming that any GW $ actually minted in 2006 are counted in this figure, assuming that this figure represents all the GW $ that are to be made except for proof issues, then you're already low. Although there is no doubt that the number of coins minted for each president will vary (perhaps by a large amount), I believe that the Mint is going to try to make an equal number of each of the first four. That would be a billion Presidential dollars and a half-billion Saccies. I assume that the latter are headed for Central America. |
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Valued Member
United States
342 Posts |
You have the right idea but your numbers are way off. The Fed. has already ordered 300 million Washington dollars. That means 150 million Sacs and were only talking about the first of 4 prez. dollar coins this year and 40 or more for the program.
By the time were finished with the Prez dollar program there will be Billions of dollar coins in storage unless something changes(elimination of the $1 bill).
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Valued Member
United States
342 Posts |
As for the Central America coin use, from what I have read, they have what they need for circulation and only will request a few million "replacement" coins each year.
The last figures I saw for the 2006 Sac production was about 7 million. 5 million for roll,bag and mint set sales plus 2 million extra(S.America replacements?)
Edited by Dockwalliper
02/28/2007 7:39 pm
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Pillar Of The Community
3147 Posts |
If anything ends up being a sleeper in this series it will be a proof coin just like the 2001 Sacagawea proof. Personally I prefer continuing the Sackie series but can't get excited about another round of dead Presidents and bland designs. One thing is for certain the SACKIES are a MUST continue series!
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Pillar of the Community
United States
1151 Posts |
Why does Ecuador take so many Sac's ?
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Pillar of the Community
United States
764 Posts |
dollar coins won't be accepted by the public until the dollar note disappears. thats how it has been in all the other countries that once had both.
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Pillar of the Community
United States
2254 Posts |
quote:
The United States Mint has struck more than 300 million George Washington Presidential $1 Coins.
FYI, straight from Laxmasters article on edge lettering just to give everyone a starting point for counting. It's a little vague, but at least it is a minimum count. |
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Valued Member
United States
342 Posts |
Why does Ecuador take so many Sac's ?
The people don't trust their own currency.
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New Member
United States
10 Posts |
Collect4Fun- From what I understand Ecuador changed it's official currency to the US Dollar some while back. My speculation is that the $1 bill was not very popular due to it.s life span especially in tropics. Also the bill was easy to counterfeit since the people were not used to our bills thus the demand for Sacs.
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Replies: 23 / Views: 2,505 |
Posted 02/28/2007 11:26 am
