The following Q&A is excerpted from Clifford Mishler’s Coins: Questions & Answers: Q: Is collecting any type of coin a good investment? A: No! The hobby collector—be it of coins, back-scratchers, or Bavarian beer mugs—is occasionally persuaded to purchase by impulse or sentiment. Indulging frequent lapses into irrationality is part of the fun of maintaining a hobby. But the strictly … [Read More...]
When discussing the suspension of production of Presidential Dollars for circulation, Vice President Biden said, “Nobody wants these things, and if they don’t want them, we shouldn’t keep making them.”
Apparently, somebody does want them. The US Mint has received orders for more than 6 million Chester Arthur Dollars in less than two weeks.
Although the Presidential Dollars are no longer being struck for release into general circulation, the United States Mint has continued to produce a limited number of coins for direct sale to collectors. The Mint began sales of the 21st release of the series featuring Chester A. Arthur on April 5, 2012. Products included 25-coin rolls priced at $32.95 each, 250-coin boxes priced at $275.95 each, and 500-coin boxes priced at $550.95 each. All orders were subject to a shipping and handling fee of $4.95 with an additional charge of $7.95 per box of 500 coins.
Prior to the start of sales, the US Mint had projected that total collector demand for each release would be 5 million circulation quality coins. Preliminary production for the Chester Arthur Presidential Dollar was a bit higher than this at 5.74 million coins.
From April 5 to April 16, orders have been received for rolls and boxes which would contain more than 6 million Chester Arthur Dollars. A breakdown of the orders and number of coins included appears below.
|2012 CHESTER ARTHUR $1 COIN ROLLS|
The US Mint has reserved the right to revisit additional production for Presidential Dollars based on customer demand. Based on the level of demand so far, it seems that striking more coins would be prudent.
Three additional coins within the Presidential Dollar Program are scheduled for release during 2012. The upcoming releases are Grover Cleveland (first term) on May 25, 2012, Benjamin Harrison on August 16, 2012, and Grover Cleveland (second term) on November 15, 2012. These coins will not be issued for circulation through the banks, but only sold at a premium to face value by the US Mint.