The Cheerios Dollar

Discussion in 'US Coins Forum' started by Wheatie44, Jun 29, 2017.

  1. Wheatie44

    Wheatie44 Active Member

    How rare really is the Cheerios dollar? Are there any accounts of anyone finding them in circulation or coin role hunting?
     
  2. Avatar

    Guest User Guest



    to hide this ad.
  3. BlackBeard_Thatch

    BlackBeard_Thatch Captain of the Queen Anne's Revenge

    *coins, LA_Geezer and Wheatie44 like this.
  4. green18

    green18 Unknown member Sweet on Commemorative Coins Supporter

  5. planman2014

    planman2014 Active Member

    I cherry picked one but it was in the original packaging.

    For years it was claimed that many, many more of these would show up after the initial discovery. That has been proven to be false.

    It is important to remember that there have been one (maybe two) Cheerios Dollars that turned out NOT to be the rare variety (ie the more detailed tail feathers). The exact reason why some of the 5500 Cheerio Dollars were just regular ones is not known but it is believed that when the Mint struck the 5500 for the Cheerios promotion some were defective so they stuck more but this second striking was after they changed the tail feathers. Still a small percentage of the known Cheerios Dollars have been '"regular" Sacagaweas. 99% have been the rare pattern version.

    Again it has long been told that once news of the discovery came out the population would explode. In 2007 and 2008 Cheerios Dollars were selling for as much as 15 to a record 38k dollars. This was a bit insane but it was just assumed that as soon as news got out that a flood of these would come out. Hundreds of people would remember "Oh yeah I got one of those in my cereal box years ago!" and find it in their utility drawer.

    It appears that what actually happened is almost all the people who got one of the 5500 just took it out and spent it. So in theory there SHOULD be thousands of Cheerios Dollars out there BUT very few people cherry pick the series and the difference between a Cheerios pattern coin and the regular one is the enhanced tail feathers and the those more detailed feathers wear down quickly thus at this point nearly all those coins would be unable to be identified.

    Without checking I believe 1 HAS been cherry picked but it was a solid AU coin. That was years ago.

    It is certainly possibly but at this point it is extremely unlikely many (if any) are found circulating.
     
    Brina, *coins, a_squuared and 2 others like this.
  6. Conder101

    Conder101 Numismatist

    That is what I recall as well, as far as I know ONE Cheerios dollar has been found in a roll from the bank. But consider there were around a billion 2000 Sac dollars. If ALL 5,500 Prototype reverse dollars were put into circulation and evenly disbursed, You could expect to find one out of every 9,100 rolls searched if all the small dollars were 2000 Sacs. Add in all the other NA and President dollars and you are going to have to search maybe 18,000 rolls to find one.
     
    Brina likes this.
  7. a_squuared

    a_squuared Member

    Don't let them get you down. I have found 1 of these varieties in circulation! Very difficult to identify because the main marks that differentiate the the rare version vs. the regular version (the detailed tail feathers of course) are the first markings on the entire reverse to fade away since they are one of the highest devices on the reverse, and aren't too deeply struck to begin with. You then need to identify it by other die markings, primarily on the obverse of the coin under the "P" mintmark..........Some of the detailed tail feathers are still visible on the one I found.....but they are faint and only visible through 10x magnification at this point. I haven't sent it out to be graded yet, but I'm 100% sure it is the Cherrios reverse of 1999 rare version....I'm thinking it will grade anywhere betweeen AU58-MS61.


    Keep looking!
    :)
     
    Brina likes this.
  8. C-B-D

    C-B-D Well-Known Member

    Pics?
     
    *coins and TypeCoin971793 like this.
  9. Michael K

    Michael K Well-Known Member

    Was going to ask same.
    I am skeptical. BUT THAT'S MY NATURE.
    It is possible, even likely that people got these and just spent them
    not realizing they were going to be a big deal one day.
    But to find one out of the millions out there seems unlikely.
    I had the penny in the packaging for a decade, didn't think it was anything and catch and released it.
     
  10. a_squuared

    a_squuared Member

    Just now got back from a Coin Show and had it verified by a few different dealers under a microscope! All of them thought I was joking or I just didn't know what I was talking about when I told them what I found in circulation.........#10 on the ALL-TIME PCGS Top 100 list of US coins. ;)
     
    Last edited: Mar 15, 2018
  11. a_squuared

    a_squuared Member

    I'll post a couple pics, but it's kind of hard to see. And I'm not taking it out of it's hard plastic protector either.....can you blame me? Haha.
     

    Attached Files:

    *coins, Randy Abercrombie and C-B-D like this.
  12. C-B-D

    C-B-D Well-Known Member

    Let's see it! Good job!!!
     
  13. C-B-D

    C-B-D Well-Known Member

    PS, might want to edit your above language. That's not allowed on CoinTalk.
     
  14. a_squuared

    a_squuared Member

    Sorry. Done.
     
  15. C-B-D

    C-B-D Well-Known Member

    Can't tell... better focus maybe?
     
  16. a_squuared

    a_squuared Member

    I know, sorry. I'm not gonna worry about trying to get some good pictures, it's definitely the real deal. Next to a BU 2000 P regular strike, the regular version looks like a fake aluminum foil wrapped chocolate coin....and that's still after nearly 20 years of circulation. So keep looking, there IS more out there.
     
  17. C-B-D

    C-B-D Well-Known Member

    Well submit it to PCGS and post the results here. Good luck!
     
  18. a_squuared

    a_squuared Member

    Thanks, will do! Take care! :)
     
  19. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I do totally missed this whole Cheerios dollar phenomenon. Now I gotta go empty out that giant bag of gold dollars in the bottom of my safe and start studying.
     
    *coins, a_squuared and C-B-D like this.
  20. Michael K

    Michael K Well-Known Member

    I do see the tail details, but I have a couple of regular ones that have that too.
    Good luck.
     
  21. Conder101

    Conder101 Numismatist

    After blowing up the image of the reverse 400% I'd have to say, maybe.
     
    a_squuared likes this.
Draft saved Draft deleted

Share This Page