If you've ever gone to your local bank to get the latest Presidential Dollars, and been disappointed because they either don't stock them, or want you to buy them by the $1,000 box (plus pay a fee for the service,) the U.S. Mint has a solution. Beginning June 11, 2008 the United States Mint began selling Presidential Dollars at face value! You don't even have to pay for the shipping! The only caveat is that you must buy in specified quantities, either 10 rolls ($250) or 20 rolls ($500,) with a maximum $500 per order.
The Mint has created this program to help businesses and others who would like to promote circulation of the Presidential Dollars, but who can't get them from local banks. The Mint will offer the current President until its stock runs out. According to the Mint's information page on this new "Circulating $1 Coin Direct Ship Program," these coins are normal, circulation-quality, non-numismatic Presidential Dollars. As far as I can tell, the only difference between these coins and the ones that cost $35.95 per roll is that they are in different paper wrappers! Of course, if you're on a tight budget, you can buy as little as one roll of the "numismatic" Presidential Dollars. It will be interesting to see how the Direct Ship program affects the sales of the coins in the more expensive wrappers. Will people really continue paying $11 more (not to mention the $5.95 per order shipping) for that piece of U.S. Mint coin-wrapping paper?
Update: Michael Zielinski from the excellent Mint News Blog stopped by to point out that although the Mint's Direct Ship Program sounds great, you won't be able to specify which Mint your coins will come from. He also noted that there's no guarantee that the coins will be uncirculated (although I don't think they're putting recirculated coins into the special bank wrappers, so I agree with Michael that you'll almost certainly get uncirculated coins.
My guess is that they'll be from Philadelphia.) You can see Michael's full comment, and leave your own, below.
UPDATE: The United States Mint first introduce the Direct Ship Program in June 2008. The program was initially created in order to comply with the requirements of the Presidential One Dollar Coin Act in order to remove barriers and improve the circulation of one dollar coins. In January of 2012 the United States Mint officially announced that it was discontinuing the program.
Edited by: James Bucki
More About $1 Coins
- How to Get Banks to Sell Rolls of Coins
- Is Upside Down Edge Lettering an Error?
- All About the Presidential Dollar Program
- Why is Sacagawea on the U.S. Dollar Coins?
Photo courtesy of the United States Mint.