Presidential Dollar Coin Production Suspended

If anything I would keep the Presidential dollar and dump the NA dollar.

 

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Yes, the NA will be affected since their mintage numbers go along with the number of Presidential dollars minted. So if they only make the dollars going forward for collectors, the mintage of the NA dollars will be only 20% of what is produced out of the Prez dollars total mintage numbers.

 

SO shall we all stock up on original rolls?

 

If you can get them for face and have the extra money to do so, I don't see why not.

 

You mean of the existing ones? I'm not, not since they have 1.4 billion sitting in storage, likely to be released later.

 

They said they will be pulling avout 40% of the existing ones from circulation

 

Just a guess...but I doubt it. They have the purchasing power of a 1964 nickel and are just too big. Eventually, we'll go through a top-down redesign and practical dollar coins the size of dimes will be produced (hopefully with some silver content).

Some Presidential dollars will be saved, but the bulk will be destroyed (...like I said, just my guess).

 

I agree that they should seriously sit down and reinvent the wheel so to speak. If they were to change the size to a dime or penny and made it at the very least, 40% silver then that would be more well received to the public. The only issue to that is the public will hoard them and the gov't might ban silver melting. It would save a ton of base junk 90% silver coins being melted on a daily basis, and quite possibly save the hobby for future generations. Just a thought...

 

Why? The Native American Dollars have WAY nicer themes to them IMO.

I really wish they would just dump the Presidential dollar, and finish that series on the half dollar. Presidential Halves, now THAT would be interesting. AND, as I've said about a million times, halves have less barriers to circulation, seeing as they have no 50 cent FRN to compete with. And could you imagine the detail they could put on such a large coin?

I'm sorry, but except for the fact of vending machines not accepting them, I think the dollar coin idea is even deader than a new half dollar coin would be. IF vendors would spend a few million to upgrade for halves.

 

This fiasco started in 2005, we know who was president
then and it wasn't Barack Obama.

Suppose this situation occurred with the state quarters,
and the US stopped producing them halfway through the series.

 

the trick is getting vend machines to accept dollar coins a complete makeover? i dont know?

 

Then perhaps, I'd have less "junk" in my collection?

This from a coin junky........

 

As stated before, the NA dollars are suspended as well, this according to the person who runs the Mint's facebook account.

 

Lets think about it. What is being suspended is production for circulated coinage. One Dollar Presidential coins will still be made for collectors following the same sequence as was for the circulation strikes. The Native American coins were not made for general circulation to begin with. They were available through the Mint in rolls and bags and Mint Sets only. So they are not affected by this suspension and they will continue to be produced as usual. It is the Presidential Series that will end up being sold the same way as the NA's. Again, either in Mint sets or by the bag or rolls.

 

Since this horrible news I went to the bank today and got $500 in dollar coins to try and get the last two presidents I needed to complete my collection up to date. I got all I needed in GREAT condition except Franklin Pierce. I looked the coin up on google images and realized I have NEVVEERRRRR seen that coin before.

 

There is no trick to getting vending machines to accept dollar coins. All the mechanisms can acept them. They will *NEVER* accept half dollar coins as they are simply too big. This has been explained many times in other forums and on the old antiquated USENET, but the simple facts are ignored by half dollar fanatics who actually will attack the dollar coin thinking that that will help their futile quest.

It's simple to turn on the dollar coin feature built into virtually every vedning machine coin mechanism. Most are already turned on, but if not, see the online documentation.


http://home.earthlink.net/~fredeshecter/FlipSwitch.pdf

And contact your government representatives with a few simple clicks to let them know how stupid this move is:

http://dollarcoinalliance.org/get-involved/

 

Are you sure? I think it depends when they were manufactured and if the vending machines have been equipped with newer or later installed coin mechanisms (which is not always the case for older vending machines). A quick look at the PDF and following the Coinco 9300, according to their news and updates, this coin mechanism didn't start accepting SBA and the Sacagawea dollars until after they were out in circulation. I wouldn't make the assumption that "ALL" vending machines have the capability to accept the new dollar coins, I use one at work that's likely over 30 years old and asking the vending guy once if it could accept dollars, he said no and didn't plan on spending the $300 or more to upgrade the coin changer in it, if he was going to spend that much money, he said they'd just upgrade the whole vending machine.

 

my question is why did it take so long for someone to see that they had that many coins in surplus? its a collector coin anyhow , but that just my opinion

 

I've been buying rolls at face value from my local bank since the inception of the program.
Since I live on the east coast, I presume the coins are P mint.
Since I now know that I won't be able to accumulate a full roll set of P mints at face value, I'll be opening the rolls to check for missing edge lettering and then turning them in for folding money.