On Tuesday, July 5, 2016 at 4:39:45 PM UTC-7, Barney wrote:
oepepper <oepepper@gmail.com> wrote in news:c4e74930-3390-4011-8c6b-b9b3c93b8907@googlegroups.com:
On Tuesday, July 5, 2016 at 12:01:09 AM UTC-7, Barney wrote:
Or are the new Sacajaweas being minted only for collectors?
Barney
Starting in 2009 the reverse changed each year and beginning in 2011
all dollar coins are only available through numismatic sales from the
mint in bags, rolls or other mint products. The Federal Reserve vaults
are full of bags of dollar coins that are not circulating, so they
stopped distributing the coins thru the banking system.
Ok, that's interesting. I thought it was only the presidential dollars not being distributed through the bank.
Of course I can only assume if a local vault service runs out of their supply of dollar coins, they would then be obligated to order more from the Federal Reserve? Or is a vault service not required to supply certain coin denominations if it does not wish to do so? I'm asking because my local bank told me their vault service was starting to run out of dollar coins.
Thanks,
According to the Redbook, all dollars minted after 2011, Presidential and Native American, were only issued through mint offerings. If your local bank orders dollars from the Federal reserve they will get only the older dates they have on hand. If they
run out, which is unlikely, they probably will not ship any more dollars to the banks, unless the paper dollar is eliminated and only 2 dollar bills printed, I don't see dollar coins being used much. This year also will mark the end of the Presidential
series as the program has caught up with the, still with us, presidents.
On another subject regarding the America The Beautiful quarters: Beginning in 2012, the mint began striking uncirculated quarters at the San Francisco mint. These coins are sold only through direct mint sales and not distributed through the banking
system like the Philadelphia and Denver issues. Most of these coins will be low mintage issues when compared to the numbers struck for actual use in circulation. Whether or not they increase in value or not, they won't be readily available from
circulation for those wanting a complete date and mint set of the series.
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