Direct Ship Presidential Dollars Quick Sell Outs
On June 11, 2008, the US Mint began the Presidential Dollar Direct Ship Program. Under the program interested retail establishments, banks, and individuals could order quantities of Presidential Dollars directly from the Mint at face value with no charges for shipping and handling. The purpose of the program was to remove barriers and improve circulation of dollar coins.
The program proved popular, selling out of the first offering of John Quincy Adams Dollars by June 30, 2008. Reports indicated that the Mint sold $1.6 million Presidential Dollars through the program's initial offering.
On August 11, 2008, the Mint expanded the program by offering John Adams, Thomas Jefferson, James Madison, and James Monroe Dollars. On August 22, the Mint also started offering George Washington and Andrew Jackson Dollars.
As of the writing of this post, six out of the seven of the Presidential Dollars offered under the program are no longer available for sale. Only Andrew Jackson Dollars remain available for sale under the program.
The program is literally a no-lose proposition since you are buying dollars for dollars with no premium. Collectors have the benefit of obtaining rolls of BU Presidential Dollars for no premium. (Reports and experience so far have shown that coins shipped are uncirculated even though the Mint makes no guarantee that coins have not been circulated.)
Whether or not this program is having any meaningful effect at increasing circulation of dollar coins is up for speculation, but it is certainly a boon for collectors who in the past have paid premiums for BU rolls of Presidential Dollars under the Bags and Rolls Program.
This page shows any Presidential Dollars currently available under the Direct Ship Program.
Update: As of this morning (Sept 9), John Q. Adams Dollars are also for sale under the Direct Ship Program.
Labels: Presidential Dollars