The United States Mint will offer a greater number of products containing Presidential $1 Coins this year, and some previously available products will see their prices decreased. These changes follow recent news of a suspension in production of Presidential Dollars for circulation. The announcement was made by Vice President Biden and Treasury Secretary Geithner and touted as a cost savings initiative.
From 2007 to 2011, the Presidential Dollars were distributed through the channels of circulation by the Federal Reserve Banks. Each of the four different designs released per year was made available to depository institutions in unmixed quantities during an introductory period. As a result, many collectors were able to obtain the newly released Presidential Dollars from banks at face value. During this period, the US Mint offered a limited number of numismatic offerings containing the coins, at somewhat high premiums to face value.
From 2012 onwards, newly released Presidential Dollars will not be distributed through Federal Reserve Banks, but will only be available from the United States Mint. Any demand for the $1 coins in circulation would be fulfilled with the Reserve Banks existing inventory of 1.4 billion $1 coins held in inventory. These $1 coins represent previously issued designs that remained unordered by depository institutions or were ultimately redeposited.
The United States Mint plans to offer the following products for the 2012 Presidential Dollars at the indicated retail prices:
2012 Presidential $1 Coin Products
|Presidential $1 Coin 25-coin Rolls||32.95|
|Presidential $1 Coin 100-Coin Bag||111.95|
|Presidential $1 Coin 250-Coin Box||275.95|
|Presidential $1 Coin 500-Coin Box||550.95|
|$1 Coin Five-Coin Set||12.95|
|Presidential $1 Coin & First Spouse Medal Set||9.95|
|Presidential $1 Coin Cover||19.95|
|Presidential $1 Coin Proof Set||18.95|
|Presidential $1 Coin Uncirculated Set||16.95|
During 2011, the only option for ordering newly released Presidential Dollars in quantity from the US Mint had been the 25-coin rolls, which were priced at $39.95 each. For 2012 releases, the price for the rolls will drop to $32.95.
Larger quantity offerings will also be available for 2012, with 100-coin bags, 250-coin boxes, and 500-coin boxes priced at $111.95, $275.95, and $550.95, respectively.
The US Mint will introduce the $1 Coin Five Coin Set for 2012, which will contain the four different 2012 Presidential Dollars and the 2012 Native American Dollar. This set will be priced at $12.95.
Four other numismatic offerings available in previous years will be available once again in 2012. Three of them will see price declines. The Presidential $1 Coin & First Spouse Medal Set will be priced at $9.95 compared to $14.95 in 2011. The Presidential $1 Coin Covers will be available at the same price of $19.95. The Presidential $1 Coin Proof Set will be available at $18.95 compared to $19.95 in the previous year. The Presidential $1 Coin Uncirculated Set will see its price decline to $16.95 compared to $19.95 in the previous year.
Release dates for all of the products are not yet known. The 2012 Presidential $1 Coin Proof Set has a tentative release date of February 23, 2012. Release dates for the 25-coin rolls, 100-coin bags, 250-coin boxes, and 500-coin boxes for each design may follow the previously indicated circulation release dates, with the Chester Arthur rolls, bags, and boxes available on February 16.