With all the talk of the prez dollars and the fact that the mint has to still make the Sac dollars, does anybody know if the Sac dollars will available in the banks?
Some yes, some no. It depends entirely on whether or not a particular bank orders some to keep on hand. Most will undoubtedly stay in the vaults at the Fed and the Mint.
I believe that 2000P's were (and still are) the only SAC's that have been released in to circulation. All other years and mints are stored in vaults, except for the few released to the numismatic community. I also heard that the law states that 1/3 of all dollar coins produced in a given year must be SAC's. As they are minting 300,000,000 of each of the 4 Pres. this year (1.2 billion total), this means that 400,000,000 SAC's will be produced and stored. Your tax dollars at work!
I guess I'll make a few calls. I don't collect enough sacs to order from the mint, but I would get them at the bank if I could. Thanks
Here is the number of the Philly Fed Reserve maybethey will let us know about the Sac link http://www.frbservices.org/Cash/comcoin/philadelphia.html
2000D, 2001P, and 2001D were also released into circulation. After that the demand was so low that they were only produced for the sake of collectors, the rest being stored in vaults waiting for any bank to bother asking for them. You ever find any Sacs dated 2002 or later in circulation it's likely from a collector bought roll that someone spent for some reason. (It can happen... I've actually found 2 proof Kennedy halves in circulation.)
This is a repeat from me sorry but I need proof. I can not find the law that says they are going to make that many Sacagawea dollars. but did find this very interesting reading from congress about the dollars link to Presidential $1 coin act http://financialservices.house.gov/media/pdf/hr10939.pdf
Proof ? Just do the math. The law states that 1/3 of all the dollar coins minted must be Sackies. Do you accept that ? OK, the mint has said they will mint approximately 300 million each of the Presidental coins. Since there are 4 coins this year, that means they will mint 1.2 billion Presidental dollar coins. Do you accept that ? OK, so if 1.2 billion is only two thirds of the total dollar coins minted - that means one third would be 600 million. And since the Sackies must be one third of the total mintage - there will be 600 million Sackies minted. It's just that easy.
You need to read the bill that was signed into law in December 2005. Your link is to a version dated April 2005. http://www.govtrack.us/congress/billtext.xpd?bill=s109-1047 Check Section 102 (B) `(B) CONTINUITY PROVISIONS- `(i) IN GENERAL- Notwithstanding subparagraph (A), the Secretary shall continue to mint and issue $1 coins which bear any design in effect before the issuance of coins as required under this subsection (including the so-called `Sacagawea-design' $1 coins). `(ii) CIRCULATION QUANTITY- Beginning January 1, 2007, and ending upon the termination of the program under paragraph (8), the Secretary annually shall mint and issue such `Sacagawea-design' $1 coins for circulation in quantities of no less than 1/3 of the total $1 coins minted and issued under this subsection.'.
Ok, this is where I get confused. If it is possible for a bank to order 2007 Sacagaweas, wouldn't it be possible for them to also order 2002-2006 Sacagaweas? And if banks can order the 2002-2006 Sacagaweas, wouldn't that mean that they have technically been released for circulation? I've always been under the impression that the 2002-2006 dates have not been released for circulation. If banks can order them, it seems contradictory.
sac dollar very very few people circulated them. the mint still got a lot of inventory. can't even continue to produce the prez dollars. what more can the sac dollars?. like before, they just discontinue it. now, it's a law. they got problem on it.
it will be interesting to see what happens to the mintages with the presidential dollars, as it looks like they will be declining as the years go by. I also can't imagine them making all of these sacagawea coins with no one wanting them in bulk except for HSN.
This was also my understanding. 2002-2006 were for sale to collectors only (Mint's decision) but under law the 2007s (and onward) must also be for circulation.
this sac thing is really getting nuts...............watch out for the changing reverses coming up! grizz
I've heared stories of a few bags of post 2001 Sackies getting out but basically the mint only made enough dollar coins for roll and bag orders after '01. They haven't started makeing the millions af mandated '07 sackies yet, last production figure I saw was 7.5 million. The banks that do request dollar coins will get the President coins so we Might see the '07s after the president coin program ends and after the president coins are used and the rest of the '01 coins.....Don't hold your breath.
I still don't get this, 300,000,000 of each Presedential $, If any of these actually make it into circulation it will be a miracle, I personally amy buying 80 of each president, and I know I am small potatos on this. I asked at my small town Post Office and was told they had not gotten any yet, even thourgh they ordered some, for the stamp machines. Help me understand this, PLEASE?
300 million was just Washington. Adams finished around 225 million. The number should continue to sag as less popular Presidents are produced. The coins do circulate on a very limited basis almost exclusivly thru vending machines. I get a roll each week to use in the machines at work. The rolls I get are mixed about 60% sackies 40% Presidents with a SBA mixed in here and there.
