Rutherford B. Hayes Presidential Dollar Rolls

Today August 18, 2011 at 12:00 Noon ET, the United States Mint will begin sales of the Rutherford B. Hayes Presidential Dollar Rolls. This will be the 19th release in the ongoing Presidential $1 Coin Program.

The obverse of the coin features a portrait of the President, along with inscriptions indicating the order of the Presidency, the years of the term “1877-1881″, and the motto “In God We Trust”. The reverse carries a rendition of the Statue of Liberty with inscriptions “United States of America” and the denomination expressed as “$1″. The date, mint mark, and motto “E Pluribus Unum” are presented on incuse edge lettering. Both the obverse and reverse designs are by Don Everhart.

The United States Mint will offer 25-coin rolls from either the Philadelphia or Denver Mint facility. The circulating quality coins are packaged in wrappers that include the US Mint logo, mint mark, face value, and the name of the President. Each roll is priced at $39.95 each, plus applicable shipping and handling.

Presidential $1 Coin numismatic roll sales have showed a general decline over the course of the series. Sales for recent releases are nowhere near the levels experienced when the first design was released.

For the George Washington Presidential Dollar, past sales reports show that the US Mint sold 137,864 Philadelphia and 138,046 Denver rolls during the extended availability period, which lasted until February 2009. This was in addition to more than 8,000 250-coin bags, sold across both facilities. (The US Mint no longer offers numismatic 250-coin bags for the series.)

The recently sold out Franklin Pierce Presidential Dollar rolls sold 35,731 Philadelphia and 34,942 Denver rolls. There was an uptick in demand for Abraham Lincoln Presidential Dollar rolls, which also recently sold out. Last reported sales were 48,832 Philadelphia and 48,748 Denver rolls.

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Comments

  1. CaptainOverkill says

    I’m honestly surprised, given the pressure on the $1 coin program, that these rolls managed to make it to market. I figured U.S. Grant would be the last… looks like I was wrong. I’m definitely picking this release up just in case of a sudden cancellation. If we actually make it all the way to Garfield, I’ll be very surprised.

  2. CaptainOverkill says

    Yes, I don’t quite see people rushing out the door to get their hands on Hayes dollar coins for some reason. ;-)

    The first presidential dollar I’ve really been excited about since the original Washington release is probably Teddy Roosevelt. Now THAT is a man who deserves to be on a coin, especially given what he did to create the renaissance in US coin design.

  3. limalo says

    Hey, CaptainOverkill,

    If you like Teddy Roosevelt, there’s a set you might be interested in from 2003. In 2003, the Mint issued the National Wildlife Refuge System Centennial Medal Series. A very nice likeness of Teddy Roosevelt was on the obverse and the reverse featured four different animals including a bald eagle, an elk, a salmon and a canvasback duck. These four were to represent the diversity of the Refuge System.

    The obverse shows a full length image of President Roosevelt standing on a rock along with the inscription “Celebrating A Century of Conservation 1903-2003.” Across the top of the obverse are the words “National Wildlife Refuge System” and below the inscription appears “Theodore Roosevelt.” The obverse also shows the artist’s initials NEN.

    The medals were minted at the Philadelphia Mint in Proof condition. The weight is 26.73 grams with a composition of 90% silver, 10% alloy. Although they are not technically coins, they should maintain value with around 0.77 troy ounces of pure silver. If I recall correctly (if I don’t, I’m sure someone will correct me), there were 25,000 of the elk, salmon & duck and 35,000 of the bald eagle.

    Anyone who likes Teddy Roosevelt should check out this set. In my opinion, it’s a great looking set.

    LL

  4. CaptainOverkill says

    limalo,

    Thanks for the information, I did not know about that. Do you have any suggestions for places to buy besides eBay? I am much less experienced in dealing with medals than I am with coins.

  5. limalo says

    CaptainOverkill,

    I was actually able to buy two complete sets on eBay at prices under $130 for the complete set, including the original Mint packaging and the certificates of authenticity. I assembled another complete set by buying individual medals at varying prices from $30 to $44. I have seen other individual coins/medals from the set in the $40 to $50 range and up.

    One place I have seen them other than eBay is at APMEX. APMEX sells the individual medals for around $49.99 each. They also have a complete set for $179.99 (slightly more for credit cards). There are probably dealers other than APMEX who get them from time to time.

    Happy hunting!

    LL

  6. limalo says

    p.p.s.

    CarolinaCoins.com has the set priced at $249.95 and individually at Bald Eagle for $49.95, Elk for $59.95, Canvasback Duck for $59.95 and Salmon for $89.95.

    By the way, I don’t work at any of these places. I’m just trying to help out my fellow coin collectors.

    LL

  7. VA Bob says

    CaptainOverkill… as far as the prez dollars go, I wouldn’t worry about the series coming to an end. They are produced by an act of Congress, so it will take an act to end it. The Mint takes the same coins for circulation, puts a .001 cent wrapper on it and sells it for a premium. If they sold 100 it’s still a profit for them.

    Since it really costs less than a dollar to make these coins, I see no reason they should sell these for only a small premium (as they are exactly the same as the ones that go to the Fed, quality and finish). The collector really has to hope the wrapper holds some mystical fascination for future collectors for these things to see even a marginal return on investment. Any examples we’ve seen to date are just perceived rarity. When the storerooms eventually do empty out, the collector will be caught holding the bag, and those that paid beyond the Mint price will feel all the more foolish.

    It’s a pity the collector can’t pick up a few nice examples for their collections, without feeling ripped off. Even the clad proof and mint set leave something to be desired, even though the packaging has a bit more effort in it than the rolls. At least the sets are supposed to be handled with care. Not so much with the coins in the rolls.

  8. VA Bob says

    Since the TR wildlife medals were mentioned. One should also note this was the first time the Mint forayed into laser engraved dies (Also the Mint’s first silver medals for public consummation, if I’m not mistaken). Anyone that was in on the series when they were produced should remember the release date delays that occurred with these. They all sold out very quickly and if I recall there was a household limit on them.

    I feel these are sleepers due to the significance they hold in the Mints production methods.

  9. CaptainOverkill says

    Thanks folks, I appreciate all the tips on where to buy. I will definitely look into grabbing the whole set if I can.

  10. Ikaika says

    I am quite curious to see what will happen to the premiums of the gold coins such as the Julia Tyler UNC, UHRDE, Gold Eagle Reverse Proof and others with the price of gold inching up to their market value. Thoughts anybody?

  11. VA Bob says

    CK – I know they have made some (the peace medals that Lewis and Clark gave out on their trek) and of course the recent 9-11. I’m sure they made some for specific awards and not the public in general. I could be think of modern issues, but I’d like to know what others might exist. Do share, that would be intresting to many here, but you might want to read this from a June 17th Mint press release first:

    http://www.usmint.gov/pressroom/?action=press_release&id=447

    “WASHINGTON – The first silver commemorative medal series ever offered by the United States Mint, celebrating the 100th anniversary of the National Wildlife Refuge System, are now available through the United States Mint’s Subscription Program.”

  12. VABEACHBUM says

    @ Ikaika – Based on the percentage criteria defined by the Mint within their numismatic pricing grid, the “premiums” – manufacturing costs, general and administrative costs, and profits – should not change… in theory. There always will be some variations in the actuals.

    The premiums were established as a fixed fee at the base-line cost for the grid. As the cost of gold continues to rise and the prices of the Mint products continue to increase, the premiums will stay the same as a fixed cost, but will represent a smaller percentage of the higher product pricing.

    Interestingly enough, the base-line costs within the current version (#2) of the Mint’s pricing grid were supposed to have been defined with a PM Gold cost of $1,100 per fine troy ounce, where the gold represented 70% of the final product price and the various premiums split the other 30%.

    If the pricing grid were correct, a Gold Buffalo should have been priced at $1570 when spot gold was $1,100 to $1,150 per FTO. However, the Buffalos were priced at $1,410. 18 months later, spot gold is 50% higher. Even if we happen to see a major PM correction, the pricing grid is likely to be revised within the next 12 months to reflect a new, base-line PM cost and any changes to the related premiums.

  13. Brian says

    > I am quite curious to see what will happen to the premiums of the gold
    > coins such as the Julia Tyler UNC, UHRDE, Gold Eagle Reverse Proof and
    > others with the price of gold inching up to their market value. Thoughts
    > anybody?

    They will lose their numismatic premium. I’ve seen this happen all too often.

  14. Brad says

    Regarding the numismatic premium, it does tend to shrink as the market value of the metal rises. I remember when the 2006 Gold Eagle 20th Anniversary set sold for $5,000+ when the gold in it was worth less than $2,300. Now, the gold in the set is worth about $5,600 and the most I’ve seen a raw set sell for is $7,000.

    I wonder how many of the 10,000 sets are still left in the original packaging versus having been graded and slabbed? I still have the 3 original sets I bought directly from the Mint on 8/30/06. For such a small premium, I’m not going to be parting with them anytime soon, either.

  15. CK says

    I picked up one set (all I could budget), and retained the original packaging but also had them graded – all turned out to be 70. I have since lost interest in grading, and if I were to “do it again” would keep them in the mint issued packaging. My plan is to collect all the P-mint 5 Oz’ers and keep them original since I like the format.

  16. Ikaika says

    VABEACHBUM: Thank you for your comments. I was wondering if the current market values for example the UHRDE (which is around $2500 raw) will increase if gold reaches or passes $2500. Will there be an increase in the value or will it be sold like bullion. I am curious to see what will happen since most of us have invested in coins like the more rare gold spouses, UHRDE etc… Thanks Brian and Brad for their inputs too.

  17. qlipoffs says

    2010 United States Mint America the Beautiful Quarters Silver Proof Set™ (SV2) This product is temporarily unavailable.

    2010 United States Mint Silver Proof Set™ (SV3)
    This product is temporarily unavailable.

  18. TMM says

    I was thinking of selling one (or both) of my 2006 Buffalo’s and buying a couple of spouse’s. The 2006 has a high mintage and will always be available, but the spouses (especially with the recent and possibly future price increases) will likely be much lower mintages and will likely not be as available as the 2006 Buffalo. Any suggestions before I sell?

  19. SunTzu says

    TMM, what if the next Spouses to be released have even lower mintages than the current ones you want to buy given the continued rise in gold? What will be the collector demand for them in the future? Are low mintages for all the upcoming gold offerings the “new normal?”

    I’m not a fan of the Spouses. In my opinion, I think they’re hideous looking besides the Liberty subset and their classic designs. I would buy the 2011 Buffalo as I think it will have the lowest mintage outside of the 2008′s.

    I think buying the Spouses solely based on mintage is a gamble because you won’t know what future mintage size holds. Some spouse is going to beat out Julia Tyler and then that one will be the prize knocking down Tyler’s value.

  20. VA Bob says

    TMM – I have to agree with Sun Tzu. Unless you have a complete spouse set (or bachelor subset) I’d stick with the Buff. It will be extremely hard ($) for a future collector to put a complete spouse set together. Heck it’s tough now. That in itself will put off all but the wealthiest from even attempting, reducing the base of collectors that will even try. Few would want to break up a complete set IMO.

    As for the Buffalo’s, hard to say if it will go as long as to match the spouse set piece for piece. Sure 2006 is the highest mintage, but it is also the first year. The design is timeless and will always be in demand. That sits well even if gold goes down in the future. Eye appeal sells and even collectors from other countries can appreciate them, a broad market appeal, the spouses maybe not so much. After all that, with the $800 initial price, I wouldn’t be surprised if some of these went in the smelter too, skewing that hign mintage a bit. Maybe more as gold climbs.

    If you’re a collector, if I were in your shoes, I’d hang onto at least one, especially if you have the other years. That said you should collect what you enjoy. As for investment, anyones guess is good as another at this point. Don’t we all wish we had that info!

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