Mint News Blog

News, Information, and Commentary on US Mint Products

Wednesday, August 13, 2008

More Presidential Dollars Available under Direct Ship Program


I just noticed today, but apparently on Monday the US Mint started offering additional Presidential Dollars under the new Circulating Presidential Dollar Direct Ship Program.

This program allows customers to purchase Presidential Dollars directly from the US Mint at face value with no charge for shipping. The stated purpose of the program is to encourage "robust national circulation of the $1 Coins." The coins are sold in boxes of $250 and limited to $500 (2 boxes) per President.

The Direct Ship Program debuted in June when quantities of John Quincy Adams Presidential Dollars were offered. While the program was considered a success with over 1.6 million coins sold, there was some uncertainty as to whether the coins would actually make it to circulation. Some of the sales may have been related to individuals ordering the coins to earn rewards on their credit card, with the coins simply turned in at a local bank after receiving. Some of the sales may have also been coin collectors purchasing through the program rather than the Mint's more pricey bags and rolls program.

The Mint is now offering the following additional Presidential Dollars under the program:
  • 2007 John Adams
  • 2007 Thomas Jefferson
  • 2007 James Madison
  • 2008 James Monroe
A few observations on the expanded offerings. First, while all of the coins received for orders of the John Quincy Adams Dollar seem to have been uncirculated, there is no guarantee from the Mint that coins ordered under the program have not been circulated. It is possible that some of the coins from the latest offerings may have been in circulation. We won't know for sure until reports start coming back from initial orders.

Second, as long as the Direct Ship Program continues, sales of Presidential Dollars under the bags and rolls program will likely be under pressure. Under the program, the Mint sells 25-coin rolls for $35.95 and 250-coin bags for $319.95. As long as the coins continue to be uncirculated and as long as you can handle the quantity, there's not much of a reason to pay the larger premiums. Ironically, the latest bags and rolls offering will go on sale tomorrow.

You can find the latest Presidential Dollars available under the Direct Ship Program on the US Mint's website here.

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1 Comments:

At August 19, 2008 at 4:54 AM , Anonymous Anonymous said...

The Andrew Jackson $1 coins were available for sale on Friday. They were sold out on the same day.

 

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