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 Replies: 52 / Views: 3,516 |
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Pillar of the Community
United States
4868 Posts |
I'm just not sure why anyone would want to pay a premium for these from the mint when you can get them at face from a bank.
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Valued Member
United States
56 Posts |
I agree with you, nds76
but, lots of people buy it with premium,
so I think, we may not be able to get it from a bank easily.
am I right?
I'm just not sure why anyone would want to pay a premium for these from the mint when you can get them at face from a bank.
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Valued Member
United States
62 Posts |
if they were just released from the mint yesterday,,it may take awhile to get to the banks,but I will be checking with my bank thursday and will post here if I hear anything
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Valued Member
 United States
270 Posts |
oops I miss typed, I meant that I doubt that the banks will even know they should order them unless someone informs them to order them. So it may help if you mention to your bank about them and that youd like them, or else they might not get them. some might but others may not pay enough attention to the fact that they are still making the coin
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Valued Member
United States
133 Posts |
Gary: You are 100% correct .........."Regarding the continuation of the Sacagaweas, wasn't it a political deal? Seems to me that Congressmen in the Dakotas would go along with the Presidential dollars legislation as long as nothing happened to the Sacagaweas." Alsois it's political, the stopage of the $1 paper bill, as I believe a Lobbist & State Senator in Massacusetts, is fighting the stopage as the printing paper comes from a company in their state. Ron (ronaldb112) |
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Pillar of the Community
United States
2269 Posts |
quote:
Wasn't there some law that said regular issue coins had to be minted for at least 25 years or am I thinking of something else?
From what I know, a design has to stay the same for a 25 year period before it could be changed. Although, the government has bent those rules before, an example would be the Kennedy half. |
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Valued Member
United States
270 Posts |
what do you mean they bent the rules for the Kennedy half dollar? would that include like the bicentennial, how they changed one side, but it still has kennedy or washington (quarter)? |
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Valued Member
United States
342 Posts |
Sackie dollars have not been produced for circulation since 2001 and they still have many in storage so I doubt the 2007's will be in banks any time soon. They are on sale from the mint in bags and rolls just as they have been every year since 2001.
The senators from South Dakota threatened to block the President dollor coin bill if the Sackie was eliminated.
SEC. 105. SENSE OF THE CONGRESS.
It is the sense of the Congress that--
(1) the enactment of this Act will serve to increase the use of $1 coins generally, which will increase the circulation of the so-called `Sacagawea-design' $1 coins that have been and will continue to be minted and issued;
The law requires that for every 2 president dollar coins produced 1 Sackie must be minted.
`(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.'.
When the President program ends the Sackie will continue.
`(9) REVERSION TO PRECEDING DESIGN- Upon the termination of the issuance of coins under this subsection, the design of all $1 coins shall revert to the so-called `Sacagawea-design' $1 coins.'.
The 2007 Sackie Mintage will be the largest since 2000, likely in excess of 500 million.
By the end of the President dollar program there will be Billions of sackies in govt. storage.
Edited by Dockwalliper
03/27/2007 6:25 pm
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Pillar of the Community
United States
4868 Posts |
If the prez dollar program was meant to encourage use in circulation, it has not happened yet.
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Valued Member
United States
342 Posts |
I've spend a couple rolls.
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Valued Member
United States
270 Posts |
thanks for bring out the key points of that law. I saw the thing that had the whole law in it, but there were just too many pages to read in a short time. That really helped understand what that thing was trying to say.
I decided that I'm gonna try and use more of the dollar coins, we have quite a few rolls sitting in the vault at the bank, when customers have an odd amount of money they wanna withdrawal or a check that they wanna cash I'll give them like one or two dollars worth in the dollar coins:) maybe that will help people use them.
I really want to start giving out two dollar bills too. I love the look of them and since I generally work in the drive threw people always just end up taking what ever I give them. just to see all their faces when they get two dollar bills and dollar coins would be fun.
Edited by imanangel0686
03/27/2007 6:36 pm
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Pillar of the Community
United States
4868 Posts |
Hopefully dollar coins will gain acceptance and maybe the dollar bill will be discontinued. Some might say they don't wanna lug around the extra weight, but I doubt people carried many dollar bills in their wallet so just having a few of these coins won't really matter. I have not gotten any of these coins so I haven't been able to spend them and get em circulated. If I get any in change, I'm just going to spend them. I am highly interested in using dollar coins but I am NOT interested in the prez's.
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Valued Member
United States
270 Posts |
My first thought was about the weight but I agree how often do you have many dollar bills in your pocket, one or two dollar coins is not going to make that much of a difference. people dont seem to complain about having quarters in their pockets so having a couple dollar coins shouldnt bother people too much once they get use to it
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Valued Member
United States
133 Posts |
Guys:
a DG$1 mintage question?
Yearly each DG$1 mintage will be 300,000 times 4= 1.2MM plus Sac's at 25% or 100,000 time 4=400,000 or yearly $ of 1.6MM.
Times 9 to 10 years or around 16 MM $ less we "the collectors" purchases, stored somewhere?
& rumor has it that there are still 670,000 Sac's stored in US Vaults from the first two years of production.
Are these mintage figures correct?
Thanks,
Ron (ronaldb112)
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Valued Member
United States
342 Posts |
Ron, I have not seen figures for the number of Sac's in storage from the 2000 & 2001 minting but I wouldn't be suprised at all if your number is close.
As for the future mintages....There were 340 million Washington dollars minted, the figures for the rest of the year should remain high but over the term of the program they will likely trend lower. The law calls for 1/3 of the total dollar mintage to be sac's so if over the 10 years of the program the average mintage of each president dollar is 250 million(just a guess) ,that adds up to 1 billion president coins per year and 500 million Sac's per year or 5 billion Sac's in the ten years of the program. Collector purchases of bags and roll thru the mint have been about 4 million coins in each of the last 5 years but might be lower in the future due to the president coins being available.
End results.......Billions of sac dollars in Govt. storage (Unless "something" changes in the next couple years)
Edited by Dockwalliper
03/28/2007 3:59 pm
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Replies: 52 / Views: 3,516 |
First Page
Posted 03/27/2007 3:55 pm
