James K. Polk Presidential Dollar Rolls
The James K. Polk Presidential Dollar Rolls will go on sale at the US Mint on Thursday, August 20, 2009 at 12:00 Noon ET. This will be the third Presidential Dollar coin release of the year.
James K. Polk was the 11th President of the United States and served from 1845 to 1849. The portrait for the obverse of the dollar coin was designed by Susan Gamble and sculpted by Charles Vickers. The reverse of the coin features a rendition of the Statue of Liberty by Don Everhart.
The US Mint will offer 25-coin rolls from either the Philadelphia Mint or Denver Mint. The rolls will be packaged in the custom designed US Mint wrappers that indicate the coin design, mint, and face value. The rolls are priced at $35.95 each.
The prior two Presidential Dollar Roll offerings from this year sold out after sales of 30,000 rolls from each mint. This may or may not be an indication of the total number of rolls to be offered for the Polk Dollars, as the US Mint has kept collectors guessing this year with different production runs for similar products.
In a shift from prior releases, the James K. Polk Dollars are also expected to be available under the US Mint's Direct Ship Program. This program allows customers to purchase $250 boxes of coins at face value with no charge for shipping. The Direct Ship Program is intended to be a method for individuals and small business to obtain dollar coins for circulation, but it has also been a source of BU dollar rolls for coin collectors.
As opposed to the premium priced individual rolls offered by US Mint, the rolls contained in the Direct Ship boxes are in generic coin wrappers. Also, coins cannot be ordered from a specific mint and there is no guarantee that the coins have never been circulated.
The James K. Polk Dollar Direct Ship rolls are expected to be available on the US Mint's website on the same release date as the collector rolls.
Update: James K. Polk Dollars have not been added to the Direct Ship section. I am trying to find out if and when they will be made available through the program.
Labels: Bags and Rolls, Presidential Dollars
posted by Mint News Blog @ 1:18 PM
15 Comments:
Tyler's poor secondary market performance might hurt Polk's sales. However, there might be enough of the "gluttons for punishment" who faithfully order products with lackluster performance records buy these and make them sell out too, maybe even at a level lower than that seen by the Harrison and Tyler rolls. The Mint may decide to limit the number of Polk rolls to 25,000 for both P and D. If that happens, there could be a repeat of the W.H. Harrison situation, and those who passed on Polk will once again be kicking themselves. What to do, oh what to do?
What to do, what to do? Do the hokey pokey and turn yourself around and then buy more Martin Van Buran's Liberty gold coin...
Before it's too late...
Goldilocks
Hee hee, that's not exactly what I had in mind, but who knows? It COULD be sound advice.
This probably doesn't mean much, but the difference between my Polk Dollar order number and my Lincoln Rolls number is about 73,000. Both orders were taken at 12:02-12:03 on the first day of the offers.
I do not see the Polk dollar on Direct Ship.
Am I missing something?
It appears that they are not on sale yet, despite previous information stating that they would be on sale.
I try to figure out when they will be offered.
The Tyler rolls are about to go up. I'm basing this on the fact that I had a roll thinking it would be worth something. Well it's not really. So I decided to open my roll and spend the coins. Now the secondary market will sky rocket. I am always a day late and a dollar short. Hold your rolls and see.
Fellow collectors...lend me your eyes...
I have noticed that rolls of coin that I GET FROM THE MINT, are reappearing on Ebay wrapped by N.F. String and Sons, Inc. Harrisburg, Pa. Are they rewrapped rolls?
My rolls from the U.S. Mint appear in Mint wrappers. Comments please
Goldilocks
Goldilocks,
Are you saying you sold Mint-wrapped rolls to someone and somehow that specific roll is reappearing re-wrapped with the other wrapper?
Or are you just wondering what the difference is between the two wrappers?
If the latter, the N.F. String and Son wrapper is the common non-collector wrapper the Mint uses when it distributes wrappers to the banks (or armored car companies). The special Mint wrapper you see from your roll you bought from the Mint is specifically made for the collectors market.
Lasloo, thank you for your reply,
I only buy coin from the U.S.Mint, I have seen uncirculated rolls in the String wrappers on Ebay and wondered if they may have been rewrapped...apparently they come from the mint in these common wrappers...
I'm still learning...
Is there a list of banks available that recieves the new rolls of coins each year...how does the mint decide how to distribute the new rolls of coins?
Goldilocks
Goldilocks,
I'm not an expert on the distribution aspects, but in general, the Federal Reserve each year tells the Mint how much coinage it thinks the banks will need each year. This year, probably because of the recession, the requested amount was very low and thus you're seeing one of the lowest mintage of all the 2009 coins, with the nickels and dimes being the surprise hits.
From what I understand, from there, the Mint has some kind of relationship with a number of the armored car companies which are basically the middle men between the Mint and the banks. I'm not sure if they actually do any of the wrapping, but they are the ones that end up with most of the coin holdings that the Mint generates. Then, as banks need coinage, they request new coinage from the Mint. In general, they can't request specific dates or newly wrapped rolls unless they are willing to pay a fee. So, they usually end up getting whatever the armored car companies have available which is usually mixed-date rolls of old coinage. Only after that supply runs out, does the new stuff get pushed out.
Anybody else out there know the details better than that? Did I miss something?
In general, your businesses (like grocery stores and the like) do more coin business than your banks, so they actually end up getting more rolls than your bank. And they are more likely to get the newer mint-fresh rolls. So, I'd go to these places first if you are looking for brand new Mint rolls for a certain coin.
If you're in DC, you can go to the Mint kiosk at the Mint HQ and get the newest Prez dollar coin, the newest state quarter, and the newest Native American dollar coin (all of these, both P & D ) from a nice little coin change machine. Very cool.
Lasloo,
Thanks for the info...very interesting...
I find it curious that we can't just buy a roll of dimes or nickles directly from the U.S. Mint.
Goldilocks
RE: Polk Roll Sales
Numismaster just posted roll sales of 27,949 (Phila.)& 27298 (Denver).
Remember now that the Harrison and Tyler rolls were cutoff at 30M each. So if you follow the logic that the mint will be consistent in that regard one had better hitch up like now.
Where does it say there is no guarantee that the coins have never been circulated?
Where would the US Mint get just-issued coins that have previusly been circulated?
Are you suggested they are selling coins that have collected from the vending machines in the breakroom?
Where could the Mint possibly obtain Polk coins that have already been circulated? None of the coins in the direct-ship program have ever been touched by a person. The machines wrap the coins 1000 times faster than any person could. And only a fork-lift could carry a bin of newly minted coins. It is possible an inspector or press operator touched a few of the coins but that does not mean they are circulated. A collectible coin can change hands 100 times and still be uncirculated.
The US Mint describes them as "non-numismatic, circulation-grade coins".
At this point in the program, all of the coins have been uncirculated. That doesn't mean the coins will always be uncirculated. The US Mint also offers older issues through the program even from 2007.
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