Presidential rolls directly to the public at cost.

i can't believe it

i already owned 5,000 pc of uncirculated prez dollars. and it was only the six presidents issued so far. well, i think i am gonna quit on this series. enough is enough.

 

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Elaine any more & you'll corner the market. LOL
Save some for Chitown .
rzage

 

good moves by the mint

the mint will continue to sell uncirculated prez dollar rolls to the public without charging shipping fee. beginning the six president and thereafter. the mint allows only 500 coin per president.

i hope the mint will sell those unpopular roll without charging shipping fee. like 2001 kennedy half dollar roll.

 

I haven't checked out the actual offer from the mint but something to understand is the terminology the Mint uses for the coins they produce. They use the term Proof the same way we do, but they use the term Uncirculated only for those coins intended for inclusion in the Mint sets. Business strike quality coins not going into mint sets they call circulated coins even straight off the press. So if they say the coins in the rolls are circulated they may just mean that they are regular business strikes.

 

that is right.

my point is that all coin were new. never circulate yet.

 

Another angle

My boss heard about this and he's in. After all, it IS a coin shop.

He'll order the max on his credit card and get a 3% refund. Less than a dollar per dollar coin.

A really horrible statement on the mint though IMHO. They're basically "giving" them away because it is yet another failed dollar program.

People come into the shop to buy the newest state quarters and don't even know that the Presidential Dollars exist. Believe me it's true.

When we run out of dollar paper notes we give these out as change. Fresh from the rolls.

clembo

 

As I understand it, the Kennedy family has a controlling interest in $1 bill production. I believe they own the factory that makes a good share of them, or something of that nature. As long as they keep their hands in it, we'll keep having the $1.

 

I gave some to a friend to use on the bus , he didn't want them , said he didn't think the buses would take them . When you can't even give them away , now thats a failed gov. program .
rzage

 

The mint doesn't make profits. It's not possible. Surpluses, such as they happen, go into the treasury.

Ruben

 

No the Craine Paper Co, which makes the currency paper, is located in Teddy Kennedy's district and they are a large employer and probably campaign contributor.

 

OK, here's some data points for you guys.

This "DEAL" has hit the finance forums and is being taken advantage of like this.

Order $500 in cash.
Pay with rewards credit card (many of those people are constantly chasing down the 5% rewards cards)
Deposit/Spend Cash.
Rinse/Repeat***

***That's right. Many of these people have rinsed/repeated to the tune of 10 or more orders. Many with the same credit card number/address only changing the authorized user's name. The Mint is essentially making no effort to weed out duplicate orders.

One of the concepts that many of the people on those forums didn't get is that the mint has almost 100% seigniorage going on. The feds pretty much shipping nothing to the Mint. If it's a machine countable blank disk, the fed recirculates it. If it's not machine countable, the bank returns it to the business that attempted to deposit it and it usually ends up in the garbage.

So think of it this way. Your garbage dumpster is full and overflowing. What do you do? Get a trash compactor and shove more garbage in of course. The Feds aren't ordering everything that the mint is producing, so the Mint has figured another way to force these coins into the Fed's vaults and out of theirs.

What does this mean to us?

If you want more of these dollar coins. Feel free to order more. Apparently the order limit is not being enforced. For reference, all the dollar coins I received were identical to the ones we get from the bank (JQA UNC) and all had a P mintmark.

Enjoy

 

thanks

i will order more.

 

Hi, i imagine there are always people trying to profit in any way they can. But i wanted some presidential dollar rolls to give to some children at Christmas time. I went on Friday, the bank told me to come back on Saturday and i could get some. On Saturday i was told they had none, attempts at other banks yielded the same results. I called the mint & complained about banks frequently not having any presidential dollar rolls. I told them it did'nt make sense as few were circulating. So , maybe other people complained as well. I use them all the time, great for tips in restaurants, ect. Many don't even know what they are!

 

Hi Elaine, they started putting the President's name on the Strings rolls shortly after the program began. My question is why don't they also include the mint marks on the roll wrapper? With the mintmarks on the edge it only seems logical. When does the mintmark get moved to the coin face?

 

only a guess

maybe the mint consulted with the dealers.

 

This may be a ploy to try to get people to buy the blue wrappers for some $10 more.

 

So far there are no plans to do so. In fact, on the Sac dollars starting in 2009 the mintmark will be moving from the face to the edge.

 

ops....

i changed my mind. i cancel all of my orders. 5,000 pc on hand is enough. i just loved the first four presidents.

 

Have you got a credit card that pays you cash back? Get 2% back? Buy $500 dump them in the bank get $10 back from the credit card. Lather, rinse, repeat.

 

Just remember to pay off your card!!!!