Monthly Archives: December 2009
US Dollar Coins Glut, Supply Far Exceeds Demand
Over 355 million Andrew Jackson, Martin Van Buren, William Henry Harrison, and John Tyler Presidential $1 Coins were distributed by the Federal Reserve Banks in the last accounting period, according to their annual report to Congress released earlier this year.
However, the Reserve indicates the amount is low compared to what they have on hand, and what is returned by banks.
As first reported by Paul Gilkes in the latest issue of Coin World, the Reserve Banks are accumulating a tremendous stockpile of the golden coins. In fact, the Board of Governors of the Federal Reserve System made the following statement:
"Current supplies represent enough $1 coins for the Reserve Banks to meet transactional demand for $1 coins for about ten years."
This buildup represents a 900% plus increase in inventory over what the Banks held at the introduction of the Presidential Dollars to the system. According to Fed records, 67 million dollar coins were in their control at the start of 2007. By the end of May of this year, an astonishing 691 million dollars were being held in limbo.
Royal Australian Mint to Raffle Coin Striking Opportunity
US Mint Reveals BSA Silver Dollar Commemorative Coin Designs
The United States Mint has revealed approved designs for next year's 2010 Boy Scouts of America Centennial Silver Dollar that is tentatively scheduled for release in March 2010.
Boy Scouts of America BSA Centennial Commemorative Silver Dollar Obverse Design - Click to Enlarge
The US Mint presented 17 obverse (heads side) and 5 reverse designs for consideration. From those, Secretary of the Treasury Timothy F. Geithner approved the two designs that will be used, according to a Mint statement released last week. (See images of the five recommended BSA design candidates.)
The US Mint will produce a maximum mintage of 350,000 Philadelphia struck collector proof and uncirculated $1s to commemorate the 100th anniversary of the founding of the Boy Scouts of America (BSA).
Gold, Silver, Metal Prices: Commentary – 12/21/2009
US Mint 2010 Coin Schedule Debuts
The United States Mint is ahead of schedule, already posting a comprehensive listing of upcoming release dates for 2010 coins. That is a fresh change. During much of 2009, collectors learned of future product releases only several weeks before they happened.
The latest US Mint schedule has only a few products listed with exact dates, but there is a detailed enough showing where every month in 2010 has something to offer.
In addition to the annual Mint sets, America the Beautiful Quarters and the Presidential Dollars -- to include the Abraham Lincoln $1 coin release in November, the two silver commemoratives stand out. The American Veterans Disabled for Life Silver Dollar and Boy Scouts of America Centennial Silver Dollar are set for respective launches in February and March.