Sac dollar vs: prez dollar

200 Million is 20% of the total mintage of 1 Billion.
100 Mil of 8 prez coins and 2 sackies= 1 Billion.

 

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Duh, you're right, I blew it. Color me stupid.

 

Wow,

I made it through three pages before I got tired of all the facts and figures.

So let's just say (to make it easy) that they mint 600 million of the Sacs on top of the billions of Deadprez and added to the truckloads of prior Sacs.

Okay, by rough math I come up with about ELEVENTY BILLION dollar coins sitting in vaults. They are cheap to produce but as GDJMSP pointed out cost money to melt. So they just sit there taking up space while MORE are being minted? Now THAT'S government in action there!

It's obvious I don't like them (dollar coins) but I'll tell you what. The next time I go to the bank I'll get a roll of WHATEVER dollar coin they have and circulate them. If this is a success I'll do it until I'm about 1,083 years old to help get them out of the vaults.

I'm afraid I have to agree with so many others on this point and it hurts being a currency collector as well. THE ONLY way these stinking dollar coins will ever fly is if we get rid of the $1 Federal Reserve Note (bill). I suppose I could actually live with that with enough advance warning. I'd be stocking up on CU (crisp uncirculated) $1 notes as they would do better than the $1 coins in the long run.

 

i agree, clembo.

grizz

 

no way jose

it is hard for one dollar paper money to catch up with the one dollar coin in term of collecting. very few collectors for paper notes. beside, one dollar note were so many.

 

I have no choice but to come off sounding harsh here. Sorry for that.
You have no clue what you are talking about in the currency world.

Has the BEP (Bureau of Engraving and Printing) issued a lot of one dollar notes? You bet they have! Do they exist in hoards like coins? Nope!
The average life span of a one dollar note is about 18 months. Then they are sent to be destroyed. This fact is a big part of why there is a push to get rid of one dollar notes. It costs to make them and it costs to destroy them. They wear out much faster than coins.

The variables in collecting one dollar notes is vast compared to one dollar coins. One gets into blocks, runs, star notes and a variety of errors. More than just a P, D, S and "hot" errors.

You don't see a lot of currency collectors on this site. Hmmm... maybe because it's CoinTalk? Got news for you there are MANY serious currency collectors out there. Yep, each Spring there is a huge show in Chicago that I have attended. That's only because it's close - these shows are all over the nation just like coin shows.

Now, let's say that the U.S. decides to scrap the one dollar note in favor of coins. Would it be immediate at such and such a date. Would all one dollar notes be traded for coins at banks so the notes could meet mean old Mr. Shredder? If that were the case CU notes (even the most current) would suddenly become very scarce.

Meanwhile the dollar coins would still be produced and circulated examples would last for a darn long time. Jump forward to 2057. Wow, a 2007 Sac in change! "Yeah, I have a 2003A one dollar note in CU that I got before they eliminated and destroyed the bulk of them."

IF they get rid of one dollar notes I could also see them changing legislation on the minting of dollar coins. Hell, they're just sitting there and that would be an opportunity to actually use them. Dollar coin becomes "today's dollar bill" while the "dollar bill" is now much more collectible.

 

no way jose

the crisp unc dollar notes will always be buying at face value or 5 to 10% above face value if really needed. the worst is many of the dealers are not buying. no buyer is the term.

 

I checked my box of Crayolas.....Skyblue,Spring green, Sunglow......but no Stupid.
You'll have to choose something else...maybe Wild blue yonder or Tickle me pink. :smile

 

And what are dealers paying for a roll of ordinary Sacs like a 2000P with a mintage of 700 million plus? My dealer tells people to SPEND them just like he would with a common CU 2003A note.

Now, as I mentioned before, there are a lot of variables in currency and obviously you have no desire to learn about them. No biggie but you should NOT make "blanket" statements when you are not informed.

Most Prez dollar will be worth a dollar for a REAL long time. Now if you find a roll with no edge lettering - sure a dealer will pay for them it's a legit error although I personally have no interest in them.

In the same token if I were to happen upon a pack of 100 1999 one dollar notes from the F-* block believe me I could find buyers all over the country.
As it is I have two and they retail at $85 each and I COULD sell them at a healthy profit.

In addition I don't sell coins or paper to dealers as a rule. I can get better money selling to a collector. I've sold a lot of one dollar notes that I pulled from circulation for well over a 10% markup because I KNOW what to look for.

Also as stated earlier IF they decided to stop making them then it would be reasonable to assume that they would want to stop CIRCULATING them. Instant collector demand as they would destroy the bulk.

When they changed designs on the 5 and 10 to the "big head" I stashed away "old style" notes. On the occasion that I sell them I usually get a 40-60% markup.
1995 was the last year of printing so it's been 12 years (less actually but I'm not even going to try and explain why). Let's see what those Sacs with huge mintages do in 12 years. Betting they'll be like BiCentennial quarters (which I still spend)

 

new prices for 4th spouse gold

let's presumed that the gold is worth $750.00. then my estimated gold spouse will be $449.95 for the unc and $469.95 for the proof.

 

where are the 2007 sac

now is october and we still do not see the 2007 unc sac dollars. maybe we will see them 2008. can't believe it. well, actually we have enough or more than enough of 2000-2001 sac dollars. and mostly are still in xf to au condition. i also see the prez series production lower and lower.

 

They will strike them, but they will almost certainly not be something the banks can special order like the windows of opportunity they have for the President dollars. That means they will sit in the vaults until they come up in the standard "First In First Out" inventory method that the Fed uses. That means they will not be sent to the banks until all of the 2000, and 2001 coins have been finally shipped out, and all of the unordered Washington, Adams, Jefferson and probably Madison dollars, plus probably the returned dollars have also been disposed of. At current draw down rates for actual demand, expect the 2007 Sacs turn for distribution to come up in about three years.

 

Assuming this is fairly correct (no offense Conder101) we may start seeing BU rolls of 2007 Sacs in 2010.

I'd say that pretty much drives home my point of why dollar coins are a waste of time unless they get rid of $1 notes that ACTUALLY do get used.

 

Wait so do you suggest saving $1 notes in CU condition?

 

If you read some of my earlier posts in this thread (last pages) you'll see my reasoning. Why not collect CU notes?
I've done it for years and picked up some scarce notes. Knowing about currency is the key though as there are so many variables.

I don't keep every CU note that I see. Heck, I'd starve but have a lot of unused money if I did. If I get a pack of 100 new notes I maight tuck away 5 even if it's a common block. If I run into a pack of hundred star notes I'll keep the pack intact.

Now, if they actually DID get rid of the $1 note I WOULD save a lot more. I saved 1995 (old style) fives and tens as I could afford them and have done well with those.

Check out the paper money section of CT and you'll get a better idea or PM me and I'll ramble on. Already rambled a few times in this thread.

 

sac vs: prez

now that they don't issue sac for 2007 and 2008. the sac is becoming more favorable and collectible than the prez series. and then by 2009 and thereafter. more design come out for sac. i think the prez series is dead. deadball. what you think?.

 

Sackies have been and will be issued in 2007 & 2008.

Lots of people that have started to collect the President coins will continue until the set is complete.

 

I believe in coinworld they said the legislation that require the percentage minting of Sac dollars to Prez was removed. Therefore mint won't be issuing Sacs anymore?

 

sac dollar

mint will not produce circulating 2007 and 2008 sac dollars. instead they will produce some 3 millions plus for each mint mark on 2007 and 2008. by the way the 2007 production is done. and its been selling for the collectors earlier this year.

 

how many you got?.

i got
825 pc unc washington dollars
1300 pc unc john adams dollars
1000 pc unc jefferson dollars
300 pc au prez, sac and susan anthony dollars
213 pc vf to au ike dollars

and plan to have 300 to 1000 unc madison dollars.

also i got several hundreds proof, satin finish unc and unc from mint and proof set.

these are not for collections. but just for fun.