Actually, the Presidential Coin Program has changed. The "Direct Buy" program, 250 for $250 with
no mint premium, has been abandoned due to lack of public interest. It was costing the mint too much money to store the coins no one wanted. Folks
would buy the boxes with using a credit card, avoid the shipping and handling charges, then return them to the bank instead of placing the dollar coins in circulation. Ninety percent, OK that's an estimate, of the coins were sent back to the Federal Reserve Banks instead of floating around in circulation for many years.
According to the mint site, you can still buy both Native American and Presidential rolls, bags, and boxes with the mint premium and shipping and handling. They are catering to the collector now and not pushing the dollar coin into circulation. You'll still see some in circulation because
collectors are still buying the coins, cherry picking, and "releasing into the wild".
Posted 03/25/2013 4:49 pm
