Benjamin Harrison Presidential Dollar Rolls, Bags, Boxes

Today, August 16, 2012 at 12:00 Noon ET, the United States Mint will begin sales of the Benjamin Harrison Presidential Dollars in an array of rolls, bags, and boxes. This will be the third release of the program for the year, and the twenty-third release overall.

As readers will know, this year the Presidential $1 Coin Program underwent a major change. Starting with Chester Arthur, rather than being produced in large numbers for release to the channels of circulation, the coins are now produced only in the reduced quantities necessary to meet collector demand. Also, rather than being issued at face value, the coins are now only available from the US Mint at a premium to face value.

The Benjamin Harrison Presidential Dollar features a portrait designed and sculpted by Phebe Hemphill. Inscriptions include the President’s name, the motto “In God We Trust”, the order of the Presidency, and the dates of the term. The reverse design features the depiction of the Statue of Liberty by Don Everhart with inscriptions “United States of America” and the face value of “$1”. Incuse edge inscriptions include the motto “E Pluribus Unum”, the date, and mint mark.

The US Mint will offer circulating quality versions of the coin struck at either the Philadelphia or Denver Mint. Product options will include 25-coin rolls priced at $32.95, 100-coin bags priced at $111.95, 250-coin bags priced at $275.95, and 500-coin boxes priced at $550.95.

A standard shipping and handling charge of $4.95 applies to each order. An additional $7.95 charge is imposed for each 500-coin box ordered. As mentioned previously, this extra charge makes purchasing two of the 250-coin boxes less costly than purchasing one 500-coin box.

For previous releases this year, the most popular option by unit sales have been the 25-coin rolls. The most popular option in terms of total number of coins sold have been the 250-coin boxes. The least popular option by both measures has been the 100-coin bags. Coins struck at the Philadelphia Mint have been ordered more heavily for each product option.

As of the most recent sales report, Chester Arthur Dollars have sold 4,526,325 (P) and 3,027,375 (D) for a total of 7,553,700. The Grover Cleveland (First Term) Dollars have sold 3,857,125 (P) and 2,438,950 (D) for a total of 6,296,075.

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Comments

  1. VABEACHBUM says

    I continue to be fascinated by the Dollar Coin productions numbers, but especially as they are now US Mint Numismatic offerings. After all, if you look at the secondary markets and the commercial retailers, there just don’t seem to be a lot of Dollar Coin offerings out there. Since these numbers are based on US Mint sales, where in world are these coins going??

    Michael – as a related subject, will you be taking a mid-term look at US Mint coin production and the impacts to 2012 Seigniorage, numismatic mark-ups and profit potentials?? The Dollar Coin and Quarter production is good, for sure, but the penny and nickel numbers continue to sky rocket! If the Mint’s business model is to generate revenue, remain self-sustaining, and deposit excesses into the Treasury, this downward trend will continue to diminish the revenues. Thanks!!!

  2. vaughnster says

    Ordered my Benjamin Harrision rolls at 12:05 and noticed no slowdown on the Mint’s server 🙂

    Barring any unknown circumstances, it looks like any excitement in the Mint’s offerings will be next year.

  3. says

    VABB,

    I too continue to be amazed at these sales figures. I guess there must be a lot of people out there who just enjoy collecting these coins.

    On the issue of declining revenues, I’m expecting the US Mint to post a loss for the year. If you review their financials, you can see the downward trend, and I’m fairly confident that they’re going to sink to a loss. I don’t think their numismatic sales will be able to make up for the impact of the production costs of the circulating coins. In fact, I think their numismatic sales could take a hit in comparison with 2011. A lot of core products are selling slower this year. Exhibit A is the proof platinum eagle.

    The loss they take for FY 2012, I believe, will be the catalyst for either altering the composition of the penny and nickel or just killing production altogether. I am expecting that a loss combined with the Mint’s report to Congress on changing the coin composition will probably cause action to be taken sometime in early Q2 next year. Of course, some of this may depend on what priorities the incoming administration has next year (whether Obama or Romney).

  4. says

    Simon,

    While I like that they’re putting TR on the silver dollar, I think the one that will really get people excited is the gold coin.

    But really, all three of them sound fantastic. I am excited about them and honestly wish they were coming sooner.

  5. simon says

    CO the fine print is two types of Au coins (octagonal and round), the Ag dollar and the clad half. So you get more than your wish – four coins.

  6. Nate says

    2015 is already slated to have a gold coin for the US Marshalls. Doesn’t the law restrict the number of $5 gold commems issued in one year to two? The Pan-Pac includes two different $5 gold coins bringing the total for the year to three.

    Or does the law say that only two different commemorative coin programs can issues $5 gold pieces per year? In that case, having one program issue two $5 gold pieces gets around the limit.

  7. Shutter says

    It’s two programs per year. Number and type of coins are up to individual bill authorizing the program. Number of products is up to the mint. Thus this year we have Infantry with 2 coins across 3 products, and SSB with 4 coins across 6 products.

  8. merryxmasmrscrooge says

    B. Harrison’s likeness is the only one this year that doesn’t look grumpy. The other 2 look like a couple of hams. Maybe because in Cleveland’s first term he had to deal with major depression with 15% unemployment if Wikipedia is reliable. I think I will skip these rolls, waiting for Woodrow Wilson.

  9. ClevelandRocks says

    Off topic,
    I find it annoying that when the Mint puts something on backorder, they give an expected ship date, say in 2 weeks, and then keep pushing the day back one day, everyday. Why not say the ACTUAL expected ship date instead of some computer generated non-sense?

  10. Brad says

    Cleveland,

    Yes, I agree with that. My Lucy Hayes and Lucretia Garfields have been doing that very thing. They’re up to 9/1 for the “expected ship date” now.

    Actually, my “expected ship date” on those coins would be…never! I have a feeling they’re going to be cancelled, because by the time the backorder notice appeared they were in fact already sold out! I could be wrong of course, but the longer this goes on, the less likely it appears that it will work out.

  11. Hidalgo says

    Michael –

    I cannot understand why some FS gold coins would be placed on “backordered” status if the coins had to be minted during the previous year and cannot be minted during the current calendar year.

    Either the US Mint has the coins in stock or they don’t. Can you explain the US Mint’s system?

  12. ClevelandRocks says

    The only half-logical explanation would be, at this point, that they are waiting for returns of picked over coins to see if they can push them on desperate backoredered customers. I think if you already own coins you plan to keep, I’d cancel any backorders to keep final sales lower (ie. SF and FS), since you will not likely get “70s” from your backorder anyhow, IMHO.

  13. RP says

    I agree with CR…Check the population reports of NGC and PCGS on 70’s in both Hayes and Garfield UNC’s. IF you were able to snag any of those… congrats!

  14. VA Bob says

    OT – My one MAH arrived today. Proof was sharp and remained so under magnification. I’d call it a PF70. The fiver was, well a crisp five dollar bill. Nothing wild or wacky in my particular serial number. Packaging is nice. Same size as previous C & C sets.

    I had mixed feelings on this one, didn’t really want to buy due to the SF debacle, but since I have some of the past coins and currency sets (and like them), I got one for my collection continuity.

  15. J A says

    I can’t understand why I’m continuing to collect the Presidential coins after I swore off on them but here I go again…

  16. Mint News Blog says

    As far as I know, the Presidential $1 Coin First Day Covers will continue. The first two for 2012 have been released, although the next two haven’t been scheduled yet.

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