Chester Arthur 100-Coin Bags

Today, the United States Mint began sales of the 100-coin bags of Chester Arthur Presidential Dollars from either the Philadelphia or Denver Mint. These products follow the release of 25-coin rolls, 250-coin boxes, and 500-coin boxes, which went on sale on April 5, 2012.

Following the announcement of the suspension of production of Presidential Dollars for circulation, the Mint introduced many new ordering options for circulating quality coins of the series. For the 2011 releases, there had only been 25-coin rolls available from each mint. For this year’s releases, there are four separate options from each of the two mints.

The newly released 100-coin bags are priced at $111.95 each. On a per coin basis, the bags carry a lower cost than the individual rolls, but a slightly higher cost than the larger quantity box offerings.

Excluding shipping, the cost per coin would be $1.318 each for the 25-coin rolls, $1.1195 each for the 100-coin bags, $1.1038 each for the 250-coin boxes, and $1.1019 each for the 500-coin boxes. The 500-coin boxes carry an additional shipping charge of $7.95 per box, which makes the 250-coin boxes, the lowest priced option on a per coin basis.

Sales of the Chester Arthur Dollars through existing options have been extremely robust, with more than 6.5 million coins already sold. Due to the later release of the 100-coin bags, they probably won’t see the huge initial demand that the rolls and boxes experienced in the opening weeks.

On the world coin news front, the Perth Mint has released the first ever high relief Silver Kookaburra coin and the Chinese Dragon issue for the Dragons of Legend series. For more information, head over to World Mint News Blog.

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Comments

  1. Sam says

    Not sure why anyone would want the bags over the 250 coin rolls. If you plan to store these for a few years, the rolls would most likely do a better job than coins loose in a bag …

  2. SauceXX says

    I hope nobody takes this the wrong way but who’s buying these things? 6.5 million sold and presumably all to collectors? I’m just confused by it all.

  3. says

    Sauce,

    There are a lot of people out there who collect clad coins. In general clad is cheap and easy to acquire. Most likely the true level of demand was masked by withdrawals of the dollar coins from banks by dedicated collectors of the series who didn’t want to pay premiums for the numismatic rolls. With that relief valve now gone, plus the added incentive of the boxed coins and lower prices, we’re seeing the demand shift completely to the Mint.

    That’s my theory anyway.

  4. SauceXX says

    I just never thought there’d be that much demand. Don’t proof and uncirculated clad sets top out out at like 1 million?

  5. Louis says

    I was at a Mint sales counter yesterday and heard a disappointed collector almost in tears because he has been collecting the dollar rolls and could not buy any until more are made.

  6. Brad says

    I wonder how many collectors are almost in tears because they HAVE been buying Presidential Dollar rolls at premiums they will never recover in their lifetimes? 🙂

  7. vaughnster says

    Never say never Brad! Quite honestly, I’ve been collecting the Presidential dollar rolls for my 5-year-old to have someday. Up to this point I’ve been able to get both P and D rolls at face value. As others have stated before, it’s not a tremendous amount of money to purchase the roll sets through the Mint. I can think of a lot of other ways I blow money and have nothing to show for it. As my deceased Uncle Leo once said, who got me started collecting coins 35 years ago, “A coin will never be worth less than it’s face value.”

  8. Nate says

    True vaughnster, but remember that the amount of goods you can buy for that face value diminishes over time. That is to say, in a manner of speak, that face value has less value over time!

  9. fosnock says

    @Brad

    At least they had the opportunity to get some of their collection at face value. I have been buying the ATB quarter rolls at a premium because I could never get them anywhere else…yes it brings me to tears but I keep buying them. I guess by Einstein’s definition I’m insane.

  10. Brad says

    Hee hee. Sorry guys, I was just trying to be funny with that comment.

    I’ve made my own mistakes. I passed up on the opportunity to buy the William Henry Harrison rolls from the Mint, which a lot of you may remember were going for absolutely CRAZY premiums for a while (up to $300 per roll) after being declared sold out. I haven’t priced them lately, but anyone who bought them from the Mint back in 2009 and left them in the sealed white boxes could have made a killing. I took a chance on a few James K. Polk rolls later in ’09 hoping for a similar result, but those languished in the online catalog for years, and the last I checked now sell for several dollars less per roll than the original premium. By the time selling fees and postage are factored in, sellers would realize less than face value. So, the $114.45 premium I paid for those 10 rolls ($10.95 per roll plus $4.95 s/h) was basically flushed down the toilet. I’ll probably end up just spending them at face. Oh well, I’ve made enough on other things that it more than makes up for that. It still peeves me though, you know? 🙂

  11. Louis says

    Brad, I know what you mean. I rarely buy these kind of rolls. That guy who was so upset about the Arthur dollars probably just likes to complain about the Mint no matter what they do. The irony is by the time they satisfy all the demand, they may not have much premium. I could be wrong but I think the Native American rolls have better potential since the mintage will be a fraction of the presidential coins. I think they are still capped at 20% of the presidential dollars. So I got a roll of those. And the design is so much better too.

  12. Brad says

    Louis,

    Yeah, I like the 2012 Native American Dollar design, too. I don’t know about the mintage being low, though. I don’t think the Native American Dollars are CAPPED at 20% of the Presidential Dollar mintage, I think the law says they’re required to be AT LEAST 20% of the Presidential mintage. So, they can be minted at the same level or higher as the presidents. Now that all of the dollar coins are being sold directly to collectors, the Native American mintage might be as high or higher as the presidents this year.

  13. MarkInFlorida says

    Aren’t the dollars in these bags all scratched up compared to the rolls? I know it took some looking to find unscratched ones even in the rolls. These must be in worse shape.

  14. Brad says

    By the way, it appears very likely that the gold coin price drop of last week will be taken away this week. The only thing that will save it is if the price tanks by tomorrow’s pm London fix. So much for holding out for another drop!

  15. says

    Brad,

    Yeah, by Monday it was clear to me the price would probably increase so the guys in my group who wanted gold SSBs went ahead and purchased. I’m expecting this week’s sales report to show sales increases for the gold coins since the price drop is liable to go away tomorrow.

  16. Leo S. says

    Michael

    Off topic. It is now May 2nd and there is still no word on the first FS coin for this year. Is this series going to be cancelled or what. It will get very expensive to get them all if they wait till the last few months of the year to issue them all together. Any word on these???

  17. Michael says

    I’ve haven’t received this week’s sales numbers from the US Mint yet. I always try to have these posted as soon as I receive the info, sometimes it comes late Tues or early Wed.

    No new information on the First Spouse Coins since they announced the designs. http://mintnewsblog.com/2012/04/2012-first-spouse-gold-coin-designs/
    The Mint is legally required to continue the series, so I don’t see any possibility of it being cancelled without Congressional action.

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