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<p>[QUOTE=&quot;clembo, post: 774666, member: 8033&quot;]First of all Happy New Year!</p><p><br /></p><p>Now I really DO have to ask the question why the U.S. is bothering to mint One Dollar coins. Until we get rid of the Paper Dollar it&#039;s a waste. Being a fan of paper money as well I&#039;d hate to see this but seriously that IS the only way it has a chance of making any sense at all.</p><p><br /></p><p>Don&#039;t believe me? Then let me draw on an article by Coin World that my coworker found on line.</p><p><br /></p><p>It seems we now have a 12 YEAR inventory of dollar coins sitting in Federal Reserve Banks and contracted armored carriers. Total amount? 857 MILLION DOLLARS!</p><p>There are so many the Federal Reserve Banks are looking toward other avenues&nbsp; due to vault restrictions and insurance limitations.</p><p><br /></p><p>Some of the surplus actually comes from &quot;dollar coins returned by depository institutions&quot;. What? Oh banks are returning them.</p><p><br /></p><p>The biggest surplus seems to be in Presidential dollars but the Native American pieces are building up too. Hey, you can order those from the mint at face value and get free shipping. Does that tell anyone anything? We ordered them at work. Demand was pathetically low. We give them away as change now.</p><p><br /></p><p>Okay, I&#039;m touching on the iceberg here folks. Those that know me also know I&#039;ve NEVER been a fan of any of the new dollars. Well, this is a big part of it.</p><p><br /></p><p>I work in a coin shop. We have them all. We sell them at $1.50 each because that&#039;s part of our business. Why a premium? - because we trade with other dealers in other parts of the country so we can get coins from both the Philadelphia and Denver mints. That&#039;s what our customers demand, and as a coin shop, that&#039;s what we supply. We have thousands of them and they take up a lot of space.</p><p><br /></p><p>I&#039;m not raising this point to knock those that collect them. A true high grade coin will garner some money. A &quot;book&quot; filled with them may start a budding collector. There&#039;s a lot of history. Kids like them as do parents and granparents for the kids.</p><p><br /></p><p>What I AM saying is that there will be uncirculated rolls of these around for a VERY LONG TIME.</p><p><br /></p><p>The mint needs to take a good look at the stamp hobby. Total overload and a dying hobby. We buy stamps at UNDER face value then use them for mail. Of course the USPS won&#039;t buy them back - at least you have that going for you with excess coins. They&#039;re still worth a buck.</p><p><br /></p><p>Be warned though. The next time you read about a &quot;low mintage&quot; of a modern coin be it a quarter, a nickel, a dime, a dollar - you name it. How many are sitting in vaults because they are not NEEDED for circulation.</p><p><br /></p><p>A small rant by me and a bit of food for thought.</p><p><br /></p><p>Clembo[/QUOTE]</p><p><br /></p>

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