I bet it will be easyer to put together a state qtr set at face value now do to the economy ! http://wallstreet.blogs.fortune.cnn.com/2010/07/20/bernankes-rolling-in-quarters/
I read the article, but how does that make it easier? I haven't even seen a Parks Quarter or half of the Territories here in Oregon. Use to be whole rolls of the new release were available at banks shortly after release. I've talked to a lot of people that collected the state quarters, but say they aren't going to collect the Parks because they can't get them in circulation.
If they want to get rid of them, I have a simple solution that would ensure they'd be gone in a day or two.....half price sell. Sell people rolls for $5. They couldn't get them out of storage fast enough. Problem solved. Guy~
Wouldn't help. People would buy up all the rolls, rush out and spend them for the profit (Or even deposit them into their bank accounts). They would flood back to the banks, and the banks, having way more of them than they need, would send them back to the Fed. I would say watch for greatly reduced mintages of the Parks quarters as compared to the state quarters. And the mintage of the first two is bearing that out.
They should allow the banks to order the Parks Quarters if they want people to collect (keep) them. Too many have said they won't collect them if they can't get them at face. As for the State Quarters, looks like they'll have to produce low mintages of the Parks until the States are used up. Another problem with the States is they appear to be flooding back into banks from roll collectors, due to the bad economy and disinterest with the series.
There is no way I'd pay $35 or whatever the mint charges for a 2 roll set when I could get the same thing at face value. I'd love to get the parks through the banks.
More like $38 with the $4.95 S&H. The Coin World editor finally wrote a piece about the mint gouging collectors. We're kinda like cigarette smokers - we're adicted and the mint is using us to pay for the entire cost of mint.
Yea, I for got to add that in. The only thing I think I'll use the mint for is commemoratives and bullion, but we shall see.
The problem is when they do that collectors buy boxes of them, search out a few quality pieces, maybe keep a couple of rolls and then send them all back to the bank. The banks don't need them (besides they have to make room for all the boxes of the NEXT quarter that's coming out) So they send them back to the Fed. That's why the Fed is swimming in state quarters now.
Yeah, that could be a problem, but the BofA I bank at ordered two boxes of each state and kept a list of collectors and called them when they came in. They limited it to 5 rolls per customer. That cost them a little to do that, but the good PR made up for it, as I believe all on the list had or opened accounts there.
In addition, the fact that banks can't order the Parks Quarters, will probably cost the banks more than ordering them and calling customers on their list. The fact is the banks will get them eventually, even though they can't order them. So, collectors like me call a list of banks regularly to see if they've received any. Now the banks have to deal with multiple contacts.
If you click through to the linked testimony on the Federal Reserve website, there's a note that the Fed's inventory of halves is still increasing annually, even though they're not ordering any more from the Mint: banks are returning halves to the Fed more than they're ordering halves from the Fed. No number is given for the halves currently in inventory, but it's mentioned that that inventory has increased by 110 million since 2001. In other words, yes, the article just ignored the halves.
Screw that article! How do you just ignore halves? Also, how do I get access to searching those halves for silver? That'd be so awesome.
