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U.S. Mint to Sell $1 Coins at Face Value!

By June 16, 2008

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U.S. Mint $1 Coin Direct Ship ProgramIf you've ever gone to your local bank to get the latest Presidential Dollars, and been disappointed because they either don't stock them, or want you to buy them by the $1,000 box (plus pay a fee for the service,) the U.S. Mint has a solution. Beginning June 11, the U.S. Mint began selling Presidential Dollars at face value! You don't even have to pay for the shipping! The only caveat is that you must buy in specified quantities, either 10 rolls ($250) or 20 rolls ($500,) with a maximum $500 per order.

The Mint has created this program to help businesses and others who would like to promote circulation of the Presidential Dollars, but who can't get them from local banks. The Mint will offer the current President until its stock runs out. According to the Mint's information page on this new "Circulating $1 Coin Direct Ship Program," these coins are normal, circulation-quality, non-numismatic Presidential Dollars. As far as I can tell, the only difference between these coins and the ones that cost $35.95 per roll is that they are in different paper wrappers! Of course, if you're on a tight budget, you can buy as little as one roll of the "numismatic" Presidential Dollars. It will be interesting to see how the Direct Ship program affects the sales of the coins in the more expensive wrappers. Will people really continue paying $11 more (not to mention the $5.95 per order shipping) for that piece of U.S. Mint coin-wrapping paper?

Update: Michael Zielinski from the excellent Mint News Blog stopped by to point out that although the Mint's Direct Ship Program sounds great, you won't be able to specify which Mint your coins will come from. He also noted that there's no guarantee that the coins will be uncirculated (although I don't think they're putting recirculated coins into the special bank wrappers, so I agree with Michael that you'll almost certainly get uncirculated coins. My guess is that they'll be from Philadelphia.) You can see Michael's full comment, and leave your own, below.

More About $1 Coins

Photo courtesy of the United States Mint.

Comments

June 17, 2008 at 8:14 am
(1) Mint News Blog says:

I agree that this new program will definitely cut into Mint sales of rolls and bags.

The main differences seem to be that you cannot specify the mint mark of coins you would like to receive, and there is no guarantee that the coins will be uncirculated. The Mint states that the coins will be “circulation grade” whereas the coins in rolls and bags are referred to as “never circulated.” (In reality though, I suspect coins from the Direct Ship Program will be uncirculated.)

June 18, 2008 at 11:21 am
(2) Mike says:

I would think the difference is in the rolling process it looks like the face value coins are rolled by an outside service and they are often scared by the process. The numismatic coins are of better quality at least all the ones I have seen.

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