FED box question

not at all... I learned most of this from the people here as well. Happy to pass on a little something to others... who are looking to get the coins that I'm hoping to find... DARN IT!!!

 

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Thanks a bunch. I have been going stircrazy just waiting for the first of december to order them.

 

Coin World printed an interview with the Director of the Mint and one of the ideas they have for improving the circulation of the dollar coin is to provide them to banks in smaller rolls. Of course that makes absolutely no sense. If the bank orders $1000 in dollar coins why would they care if they are packed in $10, $20, or $25 rolls? Do they think people are saying "I want a roll of dollars, but I don't want 25 coins in it. I just want 20 coins."?

Another one of their brilliant ideas to help get them to circulate is to restict the number of coins a bank can order!!!! Can someone explain that one to me? How does not allowing the banks to order as many as they want HELP them circulate? The only (bad) logic I can come up with for this is if they resrict them and people ask for them but can't get them, it will cause them to WANT them because it will make them appear scarce. So people will then keep asking for them and the banks will be able to distribute all of the coins they are allowed to order.

Of course what would really happen is:
One, few will ask in the first place.
Two, if they can't get them, after a couple tries they will stop asking.
Three, if they do manage to give people an impression that the coins are scarce, they will hoard and not circulate any piece that they do manage to get their hands on. Just like the lay public currently does with half dollars.

So that idea accomplishes the exact opposite of what they intend it to do.

 

Is it possible to order anything less than $500 worth of halfs? Like say, $100? I'm in school right now and $500 is a lot for me to have tied up.

 

It all depends upon your bank, for less they may even have them on hand.
I always ask if they have any half rolls, usually they don't --- but it dosen't hurt to ask.
Frank

 

Thanks for the tip Check_M_All, since I live fairly close to you, I'll be over to check out your banks there in Gettysburg .HaHa....I'm just kidding.

 

encil:

Where from, indianhead?

Anyway, not much point in coming to Gettysburg, New Oxford, Biglerville, Littlestown looking for halves. I've cleaned out pretty much every bank here, and the only two that have any left all have my returns. Though I'm pretty certain they'd be happy to load you up. The only way I get any now is through Fed boxes, and a few of the tellers at some banks have actually started setting the silvers aside for me when they come across them. A few other tellers however have recently become silver savers...

 

As I said it was in an interview with the Director of the Mint published in Coin World. I've traced back through the Oct 31 - Nov 20 without finding it. I haven't received the later ones and the earlier ones are at home. (I do sometimes see things that aren't there, but I've never read an article that wasn't there before. Please someone find that interview so I'll know I'm only a little crazy.)

 

Conder:
You missed it by one issue. In the October 23rd issue, there was an interview with the director of the mint, Edmund Moy, "... (the mint and Federal Reserve) are considering suggestions to provide coins in smaller rolls than normally used for the denomination, smaller overall quantities than usual and unmixed rolls during the early stages of the coin release."

Earlier in the article they (the mint) state that this is because (during the release of the Sacagawea dollars) "in January 2000 through WalMart stores nationwide. Many of those 94 million coins were quickly pulled out of circulation by collectors and other members of the public and never effectively circulated."

So, apparently: 1) once again it is the collectors' fault (remember 1964?); 2) WalMart's fault, although how small rolls will change the hoarding when they only gave out one at a time is anyone's guess; 3) how smaller rolls and lower distribution allocations will change their use in curculation is a good question.

Frank

 

One thing that both bureaucrats and politicians all have in common - regardless of party - is a complete and total inability to bring common sense to bear on a problem that needs solving.

 

halves

what bank can I get rolls from? My bank only deals in $1000.00 bags.