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 Replies: 14 / Views: 1,693 |
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Valued Member
United States
232 Posts |
Hello,
I has seen folks mention in passing that some huge amount of dollar coins are not being released to circulation, but instead are being stored somewhere due to low demand. Is this true? Does anyone have any details on this?
Thanks
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Valued Member
United States
312 Posts |
Have you asked your local banks and/or credit unions for some? My credit union has rolls of them and they give them out to customers making withdrawals. There's a bingo hall 3 blocks from me, and they have $1 coin night where they'll payout up to $50 in $1 coins. The vol. FD I was a member of did the same thing when the SBA's came out. |
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Valued Member
 United States
232 Posts |
Just to clarify, banks near me have plenty - no problem there. I had just heard that the demand from the banks was very much lower than the production from the mint and I wonder if someone can fill in more details.
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Valued Member
United States
147 Posts |
Buy them from the mint, at cost shipping included.
250 coins $250 shipped
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Pillar of the Community
United States
1882 Posts |
What you are saying wouldn't surprise me. That certainly is true of the 2009 nickels and dimes...they haven't made it to the banks.
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Pillar of the Community
United States
2424 Posts |
nope, but I did get 2 $25 boxes of the new 2010-d lincln cent! woot woot
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Pillar of the Community
United States
2661 Posts |
When I go looking for halves and such, all the banks I go to practically beg me to take some dollar coins off their hands. I will sometimes take several hundred dollars worth from my favorite stops just to help them out, only to redeposit them down the street at one of my dump sites. They seem to me to be rather plentiful. Only exception is later date Sac's, But I have seen a few 2009's in both P&D circulating around here.
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Pillar of the Community
United States
6326 Posts |
My bank gets rolls of each President that comes out.....but no Native Dollars (they say that they can't specify an order for those)
So.....I can get as many as I want each time for face value....it's good enough for me to keep up with the program in BU Business Strikes (only D mint however....which is all I pursue with these)
I intend to have a Proof album of them complete at the end of the program as well.
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Moderator
 Australia
16806 Posts |
Quote:
I has seen folks mention in passing that some huge amount of dollar coins are not being released to circulation, but instead are being stored somewhere due to low demand. Is this true? Does anyone have any details on this? Correct; a month ago, the stockpiled value was quoted at 857 million coins. Check this old thread and the older ones linked to in it. Why they're stockpiling them is a reason for debate: are they stockpiled because the government can't figure out what else to do with them, or are they stockpiled in readiness for "R-Day" when dollar notes are going to be discontinued entirely and replaced by coins? Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
United States
312 Posts |
Quote:
or are they stockpiled in readiness for "R-Day" when dollar notes are going to be discontinued entirely and replaced by coins? Which would not be such a bad thing really. Canada has no note under a $5.00, ie $2.00 and $1.00 coinage, loonies and toonies. |
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Moderator
United States
187556 Posts |
I get very excited when I think about the dollar coins permanently replacing the dollar notes.  |
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Bedrock of the Community
United States
17884 Posts |
Quote:
Why they're stockpiling them is a reason for debate: Most likely because the banks are ordering boxes of the President coins for collectors at each new release, the collectors search them, return them and the bank sends them back to the Fed. Then they sit there because the banks don't order any more until the next release. Coins ordered by direct ship also come back to the bank and are then shipped back to the fed as well. So the coins keep coming into the Fed but not leaving. Last I knew the net draw down from the Fed was about 71 million coins a year. |
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Bedrock of the Community
United States
14454 Posts |
I was going to post the thread about this topic that was on here a month or so ago but see SAP is all over it up there. I don't think they will ever get as many as they are minting to circulate unless they quit making the $1 bill, because people will stick to what they are used to instead of changing just because someone else wants them to especially the Govt.
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New Member
United States
32 Posts |
Having spent some time working a till, and having seen a few dollar coins come through, I know from the perspective of my boss at least that dollar coins are disfavored due to their size and weight, and because current till drawers don't have a spot for them. They end up in the quarter slot, which means you have to dig for that 25c the next guy wants in change. They are easier to drop and lose, too. We would send any we had back to the bank at the end of each week.
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Valued Member
United States
232 Posts |
Thanks for the replies everyone, and particularly Sap, that was what I was looking for.
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Replies: 14 / Views: 1,693 |
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Posted 03/11/2010 10:22 pm
