Presidential Dollars at Local Bank

Yet if you read some of these posts you have things like banks limiting customers to how many they can have as they are running short, now I assume that they get in a certain amount and if they go that quickly then there must be a demand for them!! that to me is fairly logical. I understand that a number of banks are reluctant to get them in therfore limiting the availability and creating a artificial shortage :smile
I have to also say that my post was meant to be fairly toung in cheek hence the :whistle: at the end of it.

De Orc

 

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When a bank orders one box, and splits it up among multiple branches, it doesn't take a whole lot of demand for them to run out.

 

Also there issometimes no logic to the banks concerns. i saw on one thread somewhere where the collector wentto the bank in the late afternoon on the 15th and asked if they had the dollars. "Oh yes they had two boxes." he was told. So he asked to buy four rolls and was told that they were limiting people to one roll to make sure they didn't run out. So he asked how many people had been in asking for them. "Your the first one."

Available for six hours and he was the first one to ask for them, but they are rationing them to make sure they don't run out.

 

prez roll

got my first prez roll from the bank today. it's cool. but hopefully i will get one circulated dollar soon. so i can see both reverse, obverse and rim. the roll that i got. i will not open it. by the way, my bank allowed me one roll only.

 

I haven't had any trouble getting the rolls of presidential dollars from my bank. However, it just might be because it sits across the street from a Federal Reserve branch.

 

To get the $1 coins circulating,all the Federal Reserve has to do is pull the $1 note from circulation & stop printing them.

Aidan.

 

I bought a new, uncirculated $25 roll at my bank (Wells Fargo) yesterday. I was surprised to find that the ends did not have any fingerprints! Most of the coins in the roll are MS-62 or MS-63 but there are a few MS-65 coins.

Not bad for a face-value purchase.

 

From the U.S. Mint's point of view, $1 coins are far more cost-effective that the paper bill but I'm not sure that abandoning the $1 bill will work in the U.S. (at least, not for the forseeable future). If the U.S. Mint stopped issuing $1 bills, I suspect that there would be such a large public outcry that they would be forced to resume production.

Perhaps I'm speaking for myself, but many of us Americans have an emotional, patriotic attachment to the $1 bill. The Dollar bill has long been an American icon. Like the Kennedy Half Dollar, the Eisenhower, Susan B. Anthony, Sacagawea and now the Presidential dollar coins are a novelty and a collector's item. Except for the Eisenhower (or "Ike" for those old enough to remember him), the dollar coins are small and feel too much like a quarter. At least the Eisenhower dollar was big and could never be confused with any another coin.

Dollar coins and Kennedy Half Dollars are the red-headed step-children of U.S. coinage. Whenever we get one, we either stash it or pawn it off on someone as quickly as possible.

 

I can guarantee that there wouldn't be, because I'll let you in on a little secret, the U S Mint hasn't issued any $1 bills in over 200 years.

Even if the Federal Reserve did stop ordering dollar bills there are enough in the system and reserve stockpiles that few people would really even begin to notice for about nine months. Even then there would still be plenty for awhile, the fed would ration them to banks and banks would ration them to customers supplimenting with dollar coins and two dollar bills. It would be 12 to 18 months before the bills in circulation would be too worn out to continue using them. Plenty of time for people to become used to using the replacement coins and twos.

 

I think the coin and the bill and co-exist. There is a huge reason that no one uses the $1 coin. And it has nothing to do with the size of the coin--no one has them, so you can't get them.

How do you get $1 bills? ATMs only give out $20s and sometimes $10s. So you only get $1 bills when you break a big bill. But can you remember the last time a store gave you a $1 coin as change? I don't think it's ever happened to me.

The way to get them in circulation is to start with the vending machines. I bought BART tickets the other day and it cost me $15.20. So did the machine give me 4 dollar coins, the logical thing to do? Nope. It gave me 19 quarters, which promptly ended up in my change jar at home. I went to the grocery store and self paid with a $10. What did I get for change? $1 bills.

If those types of machines gave $1 coins as change, people would start using them. Then the retailers would have some and could give some out as change. Then it would snowball as customers realized that $1 coins are easier to use in vending machines.

Now, we are stuck in the situation where $1 coins are treated as a novelty and if you get one, you keep it as a souvenier instead of putting it in circulation. I owed a friend $8. So I gave her a $5 bill, an Ike, a Sac, and a Prez. She'd never seen any of those coins before!

I was actually guilty of that too (keeping as souveniers). But I decided to change that. I took one of the two rolls my bank allowed me to buy and actually started using them. You know what? They are easier to use than dollar bills. No taking out my money clip to find my ones. No more stuffing bills down my pocket then struggling to sort them. Just take out 3 coins and pay for the item. Yes, 20 coins is heavier than 20 bills. But they are much easier to handle.

As for the advantage of the Ike being its size. I disagree. 20 Ikes is really heavy. 20 Sacs or Presidential dollars is easy to carry around.

 

Sorry about that

I want to see that 1997 SBA!! [/QUOTE]


My apologies to you Conder101. I slipped up from 1979 to 1997. Must have been wishful thinking. :whistle:

Dave - Coins4me

 

I used to ask for them at the local 7-11 (and they were glad to give them up), but I think it has to do more with registeres not having space for them, and halves, etc. I will say that I haven't worked in a retail store for ohhhhhhh quite a few years so maybe that's wrong. I notice that they always seem to be lumped in a section with random coins in a small section, rather than in the main change section.

 

thanks to citibank.

i got 8 roll of new washington prez dollar from citibank, long island city branch, new york. thanks to them. my total roll is 13 right now. by the way the other five rolls. i got it from northfork bank, long island city branch too. i plan to have another few rolls. all 13 roll i presumed it was (p) mint mark. i don't want to open it up for searching error or use them. i collect and keep them. other designs for prez dollar. i don't want it. i might buy some silver proof set with proof prez dollar on it.

 

The bank tellers must be going nuts with the quarters and now the dollars.

Just got 7 rolls of Montana Quarters and think I may have found a few with bumps on Washingtons neck and the B in liberty filled