Today, April 26, 2012 at 12:00 Noon ET, the United States Mint will begin sales of rolls and boxes of the 2012 Native American Dollar.
The reverse designs for the series celebrate important contributions and accomplishments of Native Americans. The theme for the current year’s coin is “Trade Routes in the 17th Century”. The reverse design by Thomas Cleveland features a Native American and horse in profile. Three small horses appear running in the background to represent the historical spread of the horse. The obverse design carries Glenna Goodacre’s depiction of Sacagawea and child.
Under Public Law 110-82, it is required that the number of Native American Dollars minted and issued each year shall be not less than 20% of the total number of $1 coins minted and issued during the year. From 2009 to 2011, this resulted in relatively high mintages for the series, driven by the production of Presidential Dollars. Since the Federal Reserve Banks did not place orders for Native American Dollars, the US Mint distributed the coins primarily through the now-cancelled Direct Ship program. With the production of Presidential Dollars extremely reduced, the production of the Native American Dollars should also follow lower.
The US Mint will offer circulating quality 2012 Native American $1 Coins 25-coin rolls priced at $32.95 each. Also available will be boxes of 250 coins priced at $275.95 and boxes of 500 coins priced at $550.95. Each option will be available with coins from either the Philadelphia or Denver Mint.
A standard shipping and handling fee of $4.95 is added to all orders. An additional charge of $7.95 per 500-coin box is also imposed. (As I mentioned before, this extra charge makes it cheaper to buy two of the 250-coin boxes rather than one of the 500-coin boxes.)
The recently released Chester Arthur Dollar had surprisingly high sales that reached more than 6 million after 11 days of availability. As of the latest report, sales have climbed to more than 6.5 million.
It will be interesting to see how sales of the 2012 Native American Dollars stack up. The 2011-dated coins have only generated sales of 1,151,800 through numismatic roll sales after more than a year of availability. This year, if sales of the Native American Dollars are lower compared to the average sales level for the Presidential Dollars, the US Mint will legally be required to find some way to issue enough additional Native American Dollars to get to the 20% requirement.