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US Mint $1 Coins Question

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Mojojojo's Avatar
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 Posted 08/05/2024  3:54 pm Show Profile   Bookmark this topic Add Mojojojo to your friends list Get a Link to this Message Number of Subscribers
Does the Mint make any more $1 coins for circulation that are only valued at $1 without a premium charge? Where does the vending machines industry get theirs besides Banks?
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commems's Avatar
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 Posted 08/05/2024  6:35 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
I guess it depends on how strict you want to be with the definition of "circulation."

After the Presidential dollar series ended in 2011, the Mint stopped producing $1 coins for day-to-day circulation. The Native American $1 Coin Program - begun in 2009 - transitioned from a circulation coin to primarily a collector coin in 2011. (The Presidential $1 series had a special addition in 2020 with the release of the George Bush $1 coin - it was issued in multiple collector options vs. for circulation.)

The current Native American $1 coins and the American Innovation $1 series are considered "circulation coins" by the Mint, but they are only sold by the Mint at a premium in rolls/bags/packaged sets; they are not struck for general circulation

Vending machines that accept/dispense $1 coins. do so with recycled coins vs. newly-struck (unless someone dumps new coins into the system at a personal financial loss).

Hope that helps!



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Coinfrog's Avatar
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 Posted 08/05/2024  7:32 pm  Show Profile   Bookmark this reply Add Coinfrog to your friends list Get a Link to this Reply
That says it well.
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Mojojojo's Avatar
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 Posted 08/05/2024  8:11 pm  Show Profile   Bookmark this reply Add Mojojojo to your friends list Get a Link to this Reply
Thanks Commems, your post is informative and appreciated!
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Dearborn's Avatar
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CelticKnot's Avatar
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 Posted 08/05/2024  10:56 pm  Show Profile   Bookmark this reply Add CelticKnot to your friends list Get a Link to this Reply
One point of clarification, the original run of the $1 Presidential Coin series concluded in 2016. However, that series did transition to numismatic-only after the 2011 issues along with the Native American series and the special release for GHWB in 2020.

Though as commems mentioned, one *could* spend them if one wished. When I was collecting the series from circulation I'd find a post-2011 issue from time to time when I asked for dollar coins from the bank teller.
Edited by CelticKnot
08/05/2024 10:59 pm
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jbuck's Avatar
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 Posted 08/06/2024  09:44 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Where does the vending machines industry get theirs besides Banks?
The banks get them from the Federal Reserve. According to this article, the Fed has enough dollar coins for the next 21 years (when it was posted three years ago).

https://www.coinworld.com/news/us-c...for-21-years
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mycrob's Avatar
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 Posted 08/13/2024  08:55 am  Show Profile   Bookmark this reply Add mycrob to your friends list Get a Link to this Reply
I did not know that there were enough dollars for 21 years. However, if they abolish the paper $1 Federal Reserve Note, I wonder what the 21 year supply would reduce to? Financially it is less expensive to mint coins versus paper currency, since currency does not last that long in circulation. Maybe they should also mint $2 and $5 coins.
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jbuck's Avatar
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 Posted 08/13/2024  09:22 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
However, if they abolish the paper $1 Federal Reserve Note, I wonder what the 21 year supply would reduce to?
If that most wonderful and glorious day ever occurred, I believe the entire supply would be in circulation within six months. Then the dollar coins will start being minted at high numbers—high enough for them to finally kill off the cent to shift capacity the dollar! Oh, what a wonderful thing it would be!

But I am not delusional. It will most likely never happen.


Quote:
Maybe they should also mint $2 and $5 coins.
Oh, when you dream—dream big!
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