Franklin Pierce Presidential Dollar Rolls
The US Mint will begin sales of the Franklin Pierce Presidential Dollar Rolls later this week on May 20, 2010 at 12:00 Noon ET. This will represent the second release of the year for the series.
Franklin Pierce was the 14th President of the United States and served from 1853 to 1857. The obverse of the coin features his portrait with inscriptions indicating his name, "In God We Trust", "14th President", and "1853-1857". The obverse was designed by Susan Gamble and sculpted by Charles Vickers. The reverse features the image of the Statue of Liberty designed by Don Everhart used for all coins of the series. The date, mint mark, and "E Pluribus Unum" appear on the edge of the coin.Similar to other recent Presidential Dollar releases, the US Mint will offer 25-coin rolls from either the Philadelphia or Denver Mint. The coins are wrapped in US Mint branded wrappers which indicate the President, mint of origin, and face value of the contents. The rolls are priced at $35.95 each.
In a post from last week, a reader reported already receiving rolls of Franklin Pierce Dollars from the bank, even though the public release date for the coins is May 20, 2010. There have also been several rolls listed for sale on eBay described as "in hand."
Presidential Dollars are the only series that banks currently have the ability to order from the Federal Reserve in unmixed quantities as new coins are released. A special ordering period extends three weeks before the public release date and two weeks after. Officially, the banks are not authorized to release the coins to the public until the release date, but some are either unaware or disregard this condition.
On May 20, 2010 at 10:00 AM ET, the US Mint will also be hosting a launch ceremony for the Franklin Pierce Presidential Dollar. This will take place on the grounds of Pierce Manse located at 14 Horseshoe Pond Lane, Concord, NH. A coin exchange will be available after the ceremony.
Labels: Bags and Rolls, Presidential Dollars
posted by Mint News Blog @ 12:00 PM
23 Comments:
Someone once commented that Franklin Pierce looks kind of like a young Gene Wilder on this coin, and I can see that.
So, when people buy those rolls from the Mint and they end up basically only worth the face value of the coins, you'll almost be able to hear him say...
"You bought these rolls when the past indicated that they've all been worthless since Harrison, so you get NOTHING! You LOSE! Good DAY sir!"
I agree more and more that the Mint rolls are commanding less and less premiums and overall interest as the series continues is seriously waning.
I subscribed to two rolls per set but I am going to be getting them from the bank from now on. I can't continue justifying the $50 exchange for $71.50 to my wallet.
What is the Mint really doing to continue to entice us to use these coins anyway? There ought to be a way to order these at face value from someone even if it is for a limited time. Yes I know the roles of the Mint and the Fed which prevents this. I'm just giving the opinion of someone who actually wants to circulate these and collect some at the same time.
Back when the Polk coins were released, it was stated that the Mint intended to make those available in the "Direct Ship" program, where you CAN buy them for face value (completely, since there is no s/h charge either).
However, that never happened for Polk. In fact, NONE of the coins have been available in the program past Van Buren (and even HE was only available there for a VERY short time.) If you blinked, you missed the window.
The Mint has never adjusted the 2-box limit on the Presidential Dollars, but the limit on the Native American Dollars was raised from 20 to 50 boxes at some point. Since the limit of 2 boxes is still adhered to, you'd think the Mint would offer some of the coins past Van Buren in the program. Any ideas why they don't?
Yawn.
I want my Silver Eagle!
I would be happy if I could get just one of those people who are spending close to $400 for a Harrison roll to give me enough to recover my original investment in the Tyler rolls.
I guess if I DO end up selling them for a loss, I can net the capital loss against gains from the gold coins, reducing my tax bill. However, if I just open the Tyler and Polk rolls and spend them, then no "sale" has occurred, and I would have to eat the entire loss.
Maybe that's why you see people selling coin rolls and sets for less than the face value of the coins they contain. The tax benefit can be greater than the loss of the premium paid for those items.
If some are selling the presidential tokens for less than face value maybe its because that is what they are worth. The mint would have been better off doing some type of clad dollar coin even though it might cost them 35 cents to make as opposed to the 15 cents it costs them to make a token dollar. Penny wise, pound foolish. Thats why some call it the U.S. gooberment mint with emphasis on GOOBER.
They're NEVER worth less than face value! That's true no matter how ugly or stupid-looking they might be!
I can't say that I've ever seen a roll sell for less than face value. I'm assuming he was referring to selling for less than what was paid to the mint.
Also, yes it is a shame no other rolls were made available through Direct Ship. Presumably there are hundreds of millions of each Presidential coin sitting in vaults. Why don't banks or the fed make these available to collectors or anyone else who wants to circulate them?
Does anyone know whether the $4.95 postage fee can be avoided if you buy additional items with a box of direct ship dollars?
They still charge you the fee and treat the direct ship as a seperate order.
I was sent a letter asking to complete a survey for the US Mint online. I was wondering if any other got this opportunity or if Michael would like to do a post on it?
@May 18, 2010 1:08 PM poster: hahahahaha! Great movie, great quote.
JA,
Sorry for the confusion. Yes, I too have never actually seen the SALE price for rolls or coin sets less than the face value of the coins they contain. However, I HAVE seen sales prices low enough that by the time all of the seller fees and postage have been paid, there is less money left over than the face value of the coins that were sold.
I guess that the potential tax benefit could exceed the loss of coin face value or Mint premium if you have sold other coins for capital gains. Maybe I should just end the hope that I might be able to recover my investment in the Tyler and Polk rolls someday and just dump them now for whatever they bring. I'll just net my losses against my gains. I hate having to do it that way, but if I just open the rolls and spend the coins for face, I can't recognize ANY of the loss since no "sale" has occurred. At least if I sell them intact, the rolls have the potential to remain available to any collectors who DO want them. I would hate to be responsible for taking special Mint products out of circulation.
Did the Mint not release any new sales figures this week as of 5/16?
Uh-oh, gold's back below $1,200. Beware of the silly "Pop! Pop! Pop!" comments that are bound to resume!
Breaking news, Gold falls below $1200!, is today the day that fix doesn't count?
"Did the Mint not release any new sales figures this week as of 5/16?"
They were one day late. Just posted now.
http://news.coinupdate.com/us-mint-sales-america-the-beautiful-proof-set-debuts-0283/
To Anonymous @ 8:26,
That $1,195 pm fix today does count towards this week's price determination that will be made tomorrow morning, but it won't do any good since the prices earlier in the week were far too high to be skewed by that.
The fixes that will determine next weeks' price begin with the Thursday am fix. However, gold spot is still dropping so we can always hope that it holds through the weekend so maybe the price will have a chance to fall a tier next week!
I don't know, there's something about looking at the current price levels that just doesn't sit well with me. I didn't notice it at the previous tier so much, but now something has happened. It's almost like the present level has crossed that "invisible line" in my mind that goes from being reasonable to unreasonable. Maybe it's just me, but that was the price level that got me started thinking that maybe I should just abandon the Spouses now instead of dragging it out. When I have a hard time justifying buying the coins in my OWN mind, it's bound to weigh even heavier on my wife's mind. After all, she brings home some of the bread in our house, too. She pretty much lets me do whatever I want when it comes to buying coins, as she trusts my judgement. I've made money on them so far, but I would hate to have it turn around on me and end up losing some previous gains just because I didn't know when to quit!
Gotta know when to hold up and know when to fold up.
Get the Buchanan and Lincoln, hold the three prior Liberties and SELL SELL SELL the others!
To commenter above. Keep the liberty subset going. If you don't have a good feeling about the rest of your collection it may be time to sell or trade or stop buying. Those who buy for investment usually start second guessing themselves. My personal approach is to primarily buy what I like and I have few second guesses. I like buffalos so that is what I buy. Some get caught up in the "low mintage equals large increase in value" mindset. That is only true if there is demand to go with it. There are some coins with mintages around a hundred thousand that go way up because there are a million people who want them. I have some very low mintage Chinese silver coins that I personally like but not very many want them, voila' no demand therefore no increase in value. I say keep buying gold coins as the economy is screwy.
I cancelled my mint subscription order for 2 mint presidential sets.
Just can't continue forking over this kind of dough through the rest of the series.
Will be getting all rolls (at face value) from my bank from now on.
Good for you, JA! Down with overpriced Mint products!
there are 20 dif finishes for 2006 using burnished blanks the secret is out here is what the mint didfor the 20 annivary silver eagle reverse proof,proof,18 dif unc with w mintmark sand blasted,matte,satin,roman.full stamp most of these coins have 2 dif finishes on each coin all are made on dif runs some have the same finish on both sides of the coin the mint will tell you how many 2006w unc coins where minted, what they will not tell you is how many dif versions of the 2006w unc where minted/ with a mintage of 466,000 divied by 18 is less than 26,000 of each coin minted 1995wproof 10,000 dollars and up with a mintage of 31,123 if you are smart enough and lucky enough to find the unc set of 18 dif 2006w unc silver eagles in ngc ms70 you will have one of the rarest sets ever issued from the us mint the price for this set will be a true record breaker at this time there is only 1 set known outside the us mint good luck hunting
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