The United States Mint on Wednesday released the 2011 Presidential $1 Coin Uncirculated Set for a price of $19.95.
The 2011 uncirculated set marks the fifth issue in a series that dates back to 2007 when dollar coins honoring American Presidents were first circulated as a result of the United States Mint Presidential $1 Coin Program.
The Presidential $1 Coin Uncirculated Set is an annual United States Mint product that is popular with coin collectors, although it does not enjoy the level of interest as compared to other collector proof and uncirculated sets that have a longer history [...]
The United States Mint will send the Millard Fillmore Presidential $1 Coin into circulation on Feb. 18, 2010. On the same day the US Mint will ceremoniously unveil the new dollar at the Moravia Central School in Moravia, N.Y. at 10 AM ET.
Millard Fillmore Presidential $1 Dollar Image - Click to Enlarge
Fillmore was born only five miles east of Moravia. He served as the 13th President of the United States from 1850-1853 after assuming the office when President Zachary Taylor passed away. These were tremulous times for the country which was already on the verge of a civil war, postponed by the Compromise of 1850. Fillmore is credited with the 1854 Treaty of Kanagawa effectively ending the isolationism of Japan.
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.