Presidential Coins as Useless as Halves
January 20, 2010
Is this the year that Presidential dollars become just like Kennedy half dollars and become collector-only coins offered by the Mint?
Probably not, but we are close to reaching that point.
Dollars are backed up all over the banking system. No new ones are required and won’t be for more than a decade under current demand patterns.
Will the Mint change demand patterns? It has tried. It has had the same result with the Presidential dollars as with the Anthony and Sacagawea coins before it.
Last year the Mint struck 352,100,000 Presidential dollars comprised of issues bearing four designs from two minting facilities. That averages out to about 44 million apiece.
Fat chance of that happening again this year.
How far can the totals fall?
For 2009 Kennedy halves only 1.9 million each were produced at each minting facility for “circulation.” Circulation basically means bags and rolls for collectors. The coins struck for collector sets are counted separately.
Put me down as saying 5 million apiece from each mint for each Presidential design, or a total of 40 million coins.
As the program goes on in future years through its 38 or 40 designs, the totals will get even lower unless the government makes banks take their bailout funds in the form of Presidential dollars and require them to keep the coins forever.
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