What will replace the Presidential Dollar?

Correct me if I am wrong, but in December of 2011, the Treasury Department, under pressure from the Federal Reserve, ceased production of Presidential Dollars for general circulation and instead only produced them in collector quantities.

As such, finding a "roll" of these at a local bank could be viewed as a windfall since the coins within the roll came out of ewither US Mint Bags (p[roduced for Collectors), US Mint wrapped Rolls (produced for Collectors), or Uncirculated sets (produced for collectors.)

There simply will NOT be bags and bags of any of the Presidential Dollars produced from 2012 to date languishing in Federal Reserve Vaults since they simply were not produced.

Any Ronald Reagan Presidential Dollar found in the wild was purchased, at a premium, from the US Mint.

http://breakinggov.com/2011/12/13/white-house-halts-minting-of-presidential-silver-dollars/

 

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Only way to obtain one..........

 

That is, unless, some idiot turns his mint purchase in to the local bank. Feelin' lucky Pilgrim?

 

So when I asked my local bank teller for some halfs and she said she only had " some rolls of those brown dollars" I should have taken them!!! ???
Darn it.
I Will go back and ask for them this week.

 

No correction need for you 19Lyds. I stopped collecting them before 2011 and was getting then by the roll from my bank. I didn't stay on top of the program and kept seeing them in the one silver set I buy each year. I paid no attention in regards to articles or anything else about their availability. If anyone needs correcting, it is me.

 

"Brown dollars" could just be worn out Sacagewea/Presidentials. They turn a brownish green after they've been in circulation for a few days.

Or, if she had brown rolls of dollars, that could be Ikes. Typically they come in brownish colored wrappers.

 

And people bought the rolls and bags from the mint thinking they would be rare and thus valuable. When they go to sell them, there is no market. So they get dumped into the bank at face.

And good riddance to the set. Largely uninspired (and/or unrecognizable) images.

 

Probably a stupid question: If these dollars are so unpopular, why does the US keep churning them out?

 

They are ruled by Congress and Congress wants them.

 

Ah, a legislative play toy.

 

I really should have said that the mint is ruled by Congress and Congress is ruled by corporate lobbyists.
Whoever donates (bribes?) the most money to Congresspeople wins.

This post may be too political for this site, so I am well prepared for any repercussions from the mods.

 

Like it or not, unneeded US coinage is the byproduct of our government and if posting this fact is a violation of site rules so be it. The pres. dollars are a lot like the Bland (Morgan as we know it) Dollar. Not needed for commerce in the quantities produced but driven by the US Government by the request of lobbyists.

 

Not a commemorative? What would it be then? It would be the 100th anniversary of the end of WWI, and you can't really make it a circulation coin if it is 1 oz .999 fine silver (unless you changed the denomination to say $50.)

Because collectors buy them at a premium price. They already get a nice profit from the seigniorage, and then an extra profit from the collectors premium. Whay wouldn't you continue making them. Besides most of the ones they sell at a premium are NOT going to come back and fill Fed storage.

As to what happens when the President dollar series ends, the way the law is written the NA dollars should end as well, and any dollar coins produced after that are supposed to be of the Sacagawea design. I suspect they make ignore the law though and continue the NA dollars.

 

A true fan of Ronald Reagan will not worry about a little extra cost from the mint.

 

Rolls of Ronald Reagan Dollars are now available as of last week. I'm getting two of them from the Mint.

 

Can't have dimes and quarters without nickels. People would go nuts if sometimes you can have a five-cent increment and sometimes you can't.

"Thanks for your order, that'll be $5.05."

"Here's a five and a dime."

"Sorry, I can't give you change back. If you've got two more dimes, I can give you back a quarter..."

Ditch the cent, nickel AND quarter. Dimes, halves and dollars. Or be bold and ditch everything but quarters and dollars. Either way, rationalize the size -- nobody wants to deal with big coins.

 

Something should be issued for the 100th of the end of World War I. How about a one-year-only, high relief Peace dollar proof in SILVER. Read that Congress, SILVER, not gold.

 

Thanks for the heads up. Picked up a roll of the Reagen Ds.

 

Yes, a set of coins featuring the Presidents from the backside. Personally that is their best feature. Can not see their lips move as they lie. John D

 

Because a lot of collectors would be upset if they stopped altogether mid-series (that's why the 2012-2016 coins are NIFC). I bought a fancy album in 2007 when they first started coming out, and I'd be pretty upset if I'd never be able to fill half the holes (I'm actually a little mad that I'll never fill that Jimmy Carter hole, they could've at least made a dollar-sized commemorative token or something).

Also because certain congressmen are pushing to end the $1 bill, and we couldn't do that without a dollar coin (even though they probably have enough SBA/Sacagewea/Presidential dollars in the vaults to last 30 years or so without making any new ones).