Chester Arthur Presidential Dollar Rolls

The United States Mint will begin sales of rolls and boxes of the Chester Arthur Presidential Dollar Rolls today April 5, 2012 at 12:00 Noon ET. This is the 21st release of the Presidential Dollars Program, but the first issue which will not be distributed for circulation.

Under the authority of the Treasury Department, production of Presidential Dollars for circulation was suspended in mid-December. By law, the Treasury Secretary has the authority to “mint and issue coins… in amounts the Secretary decides are necessary to meet the needs of the United States.”

In order to fulfill the requirements of the Presidential $1 Coin Act, the series will continue to be produced in limited numbers, sold directly by the United States Mint at a premium to face value.

A section of the Presidential $1 Coin Act does require that each release of the series be made available to depository institutions in unmixed quantities during an introductory period. I suppose the Treasury Department is concluding that depository institutions can order the coins in unmixed quantities from the Mint at a premium to face value, thus fulfilling the requirement, although it’s hard to imagine any bank actually doing this.

The United States Mint will offer 25-coin rolls of the Chester Arthur Dollars from either the Philadelphia or Denver Mint. The wrappers appear similar to the previous year and include an indication of the design, face value, and mint mark. The price has been set at $32.95 per roll, which is less than the price of $39.95 charged for last year’s rolls.

New products available today include 250-coin boxes and 500-coin boxes from the Philadelphia or Denver Mint. These are priced at $275.95 and $550.95. The rolls included in the boxes also contain seem to contain the custom wrappers.

Orders are subject to the standard shipping and handling fee of $4.95. An additional shipping charge of $7.95 per box applies to the 500-coin boxes. (With this extra charge, it works out cheaper to buy two of the 250-coin boxes instead of one 500-coin box.)

At a later date, the Mint will also offer 100-coin bags of the Chester Arthur Dollars. These will be priced at $111.95 each.

Preliminary production figures for the Arthur Dollars indicate that the Denver Mint struck 2.8 million coins and the Philadelphia Mint struck 2.94 million coins. Additional coins may be struck during the calendar year if warranted by collector demand.

The US Mint has indicated that the bags, rolls, and boxes will remain available for one year from the initial on-sale date or until the corresponding release from next year goes on sale. The same policy is used for the America the Beautiful Quarter bags and rolls.

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Comments

  1. Brad says

    I’m wondering, why would anyone buy the $500 boxes and pay an additional $7.95 shipping per box on top of normal shipping, when you can buy two $250 boxes for only .95 cents above what a $500 box costs with NO added charge on top of normal shipping? The way it looks to me is you can order any quantity of $250 boxes in one order for only $4.95 shipping. $500 boxes add $7.95 PER BOX on top of the $4.95.

  2. Rolling Thunder says

    “A section of the Presidential $1 Coin Act does require that each release of the series be made available to depository institutions in unmixed quantities during an introductory period. I suppose the Treasury Department is concluding that depository institutions can order the coins in unmixed quantities from the Mint at a premium to face value, thus fulfilling the requirement, although it’s hard to imagine any bank actually doing this.”

    Michael,
    Could the Mint sell to depository institutions (banks) at face value or does the law require the Mint to charge a “premium” ?

    Maybe there is some hope of these showing up in banks at face value after all!

  3. Falcon says

    Now that the mint will produce just enough for collector demand I’m wondering if demand will be high. If this is going to be a low mintage coin will more coins be sold then before. That would be a strange twist.

  4. Zaz says

    The irony of withholding the year’s coins from even a limited general release will put pressure on the existing coins as a scarce and “valuable” commodity by a gullible and fickle public, once they discover how difficult it is to find 2012 coins in “circulation.” Rather than returning the dollars to the bank for stockpiling as has been previously done, they will be hoarded as a rare, no longer made coin, so must be worth something greater than face. The irony lies in the fact that the stockpile can eventually get smaller as people clamor for these rare birds, yet still not circulate.

  5. says

    Zaz,

    I’m not too sure about this proposition. The Kennedy half dollar has been out of circulation for some time, but I don’t find that there’s much premium or demand for the non-proof, post-circulation issues.

    If anyone chooses buys a box of 250 or 500, I would enjoy seeing pictures of it when you open it up.

  6. jeff72 says

    Brad says:
    April 5, 2012 at 11:26 am
    I’m wondering, why would anyone buy the $500 boxes and pay an additional $7.95 shipping per box on top of normal shipping, when you can buy two $250 boxes for only .95 cents above what a $500 box costs with NO added charge on top of normal shipping?

    ..I’m still trying to grasp what one does with 500 ct boxes of “soon-to-tarnish” golden plated dollar coins…. ?? …and still waiting for the Mint to mint something collectible….. 🙁

  7. Rick says

    This offering from the Mint is for dealers and flippers, or maybe a hoarder or two. Sell them for 2.00 each + shipping (easily) and then you know why some will buy these boxes.

  8. jeff72 says

    This offering from the Mint is for dealers and flippers, or maybe a hoarder or two. Sell them for 2.00 each + shipping (easily) and then you know why some will buy these boxes.

    …yeah…I reckon. 🙂

  9. jeff72 says

    Off topic -but anybody excited about the supposed upcoming US Mint 75th SF 2-coin SE proof set? ….I read somewhere they are minting a boat-load of these sets…I kinda like to know my stuff is going to be worth something some day due in part to “limited mintages” 🙂 -plus I hate to admit, -but I actually enjoy the thrill placing the order amongst a flurry of chaos.

  10. Louis says

    Jeff72,
    Did you hear any specific number of SF sets to be made? As far as I know, only David Harper at Numismatic News has said the Mint is going forward with that and it will be more then the 100K 25th anniv. sets. But no one else to my knowledge has said or confirmed that, and I am not sure if he is right.

    Michael said he is checking into it, but I do not think he has heard anything yet.

  11. Rick says

    “but I actually enjoy the thrill placing the order amongst a flurry of chaos.”

    Me too, feel the rush !

  12. Jon in CT says

    jeff72 wrote on April 5, 2012 at 4:47 pm:
    Off topic -but anybody excited about the supposed upcoming US Mint 75th SF 2-coin SE proof set? ….I read somewhere they are minting a boat-load of these sets…I kinda like to know my stuff is going to be worth something some day due in part to “limited mintages” 🙂 -plus I hate to admit, -but I actually enjoy the thrill placing the order amongst a flurry of chaos.

    It’s possible the Mint will adopt the same policy as the one announced today at http://www.usmint.gov/pressroom/?action=press_release&id=1341 for the 2012 proof ASE:
    “The United States Mint will begin accepting orders for the 2012 American Eagle Silver Proof Coin at noon Eastern Time (ET) on April 12. The coin, priced at $59.95, has no household order limit. Customer demand will determine the number of coins minted.”

    The last sentence of that quote might be the Mint’s solution for avoiding initial day order chaos, like that experienced with A25,

  13. Louis says

    Jon, I very much doubt this policy will apply to the new special sets. With no household order limit a few big dealers could snap them all up. On the other hand, minting them to demand would severely reduce interest in the sets among collectors and flippers.

    My guess is they will make something like 250K sets and then have a one per household limit.

  14. Jon in CT says

    Louis wrote on April 5, 2012 at 7:43 pm:

    Jon, I very much doubt this policy will apply to the new special sets. With no household order limit a few big dealers could snap them all up. On the other hand, minting them to demand would severely reduce interest in the sets among collectors and flippers.

    With “the number of coins minted” based solely on “customer demand,” there’s no way that “a few big dealers could snap them all up.” As for demand from collectors, it will have no effect.

    I find the Mint’s statement about the 2012 proof ASE mintage to be very unusual and indicative about how the Mint intends to introduce future products.

  15. Jon in CT says

    Louis,
    Isn’t it the Mint’s objective with numismatic products to exactly match production with demand? I don’t think they believe they’re in the business of creating rarities.

  16. Louis says

    Actually, there is no requirement to match production and demand with every product, but distributing numismatic coins widely is one of their objectives. Their main objective is actually to make money. The Mint is a business. I agree they are not in the business of creating rarities, but creating limited edition sets is perfectly reasonable as long as people have a fair chance to get them. Only some items are made to demand. If they all were, they would not get as much business overall, and many people would lose interest.

  17. Brad says

    Yeah, I think Louis is right. Part of what motivates coin collectors is the hope that their collections will someday be worth much more than what was paid, giving them something of value to pass on to their heirs. Some of the best items in recent years have been the limited edition Eagle sets and some other products without stated limits that turned out to have unexpectedly low-mintages. If all products were minted at levels too great, at least some collectors would lose interest. It’s very frustrating to see the items in your collection selling on the secondary market for prices that are half of what the Mint charged, or even less. That’s probably the main reason why the number “plain vanilla” proof and uncirculated coin sets sold have dwindled in recent years. The issue prices were too high and value was almost always dropping (with the exception of 2008 sets). I stopped buying annual sets after 2009 because I was tired of paying too much for sets that always seem to lose value.

    I think as long as the Mint produces 300,000 or less of the special SF Mint Eagle sets, they will still have very good secondary market value. That seems like it would be a fair number of sets to produce too, especially if there is an initial limit of 1 set per household. No one who wants one should be left out in that case. There would still be an initial frenzy at noon, but after a while it would let up and the sets would then still be available for at least a few days.

    Whatever happens, I just don’t want any kind of lottery system!

  18. MarkInFlorida says

    I used to put away two rolls of each presidential dollar that I bought at my bank. Now they don’t sell to banks and I don’t want to pay premium, I cashed in all my rolls (after taking out the best 2 for my sons), and used the money to buy gold coins. Precious metals are so much better than these soon-to-turn-black non-precious issues.

  19. stephen m. says

    The silver eagle 25th anniversary set is now over with in terms of people having a set that wanted a set. The mint did a good job. I hope there isn’t a silver eagle special SF mint eagle set because i think it would be an out of place silver eagle(s).

  20. says

    stephen m….out of place how? The 1986-1992 Proof Silver Eagles were are minted at the SF mint and have the “S” mint mark.
    Personally, I would like to see a SF set a Reverse Proof included.

  21. stephen m. says

    ISteve, I haven’t a problem with the S minted silver eagles. The S mint on them would be fine but not in conjunction with a W minted silver eagle. I don’t need both mint marks for the same year. The exception to having two or more mint marks for a single year would be a special year like the 25th anniversary set silver eagles and the 20th anniversary sets. I and a lot of other people will take whatever silver eagles the mint gives us. Yes a SF set with a reverse proof included would be cool but where is the silver eagle program going with too many special minted sets and mint marks?

  22. DCDave says

    Off topic:

    I’d like to hear other thoughts on the matter but, I am not happy with the Mint delaying the 2012 5 ozers since we just recently caught up from “drinking from the fire-hose” purchasing the 2010 and 2011’s spaced so close together.
    The Mint is now setting us up for a repeat experience. Not nice!

    I’d actually be ok with them cancelling the series, but I am not happy with the way things are going now, and really hope they do a reality check and lower the sales numbers expected for 2011 or they will languish on the site for years.
    Also, what’s going on with the 2012 5oz bullions????

    Maybe they can make things right by offering the 2012 5 ozers as a complete set for a reasonable price????

  23. says

    has anyone ever figured out how to trade d mints for p mints to another collector without getting ripped off

  24. Jeff72 says

    Louis says:
    April 5, 2012 at 5:22 pm
    Jeff72,
    Did you hear any specific number of SF sets to be made?

    Hi Louis…..no, I too read the article….I’m just trying to decide if I should be interested in this set…probably…since I do like the one-off SE sets.

    I am still convinced that the 25th anniversary SE sets will continue to increase in value through time….after all, there is only one 25th anniversary in one’s lifetime…glad I have a set 😉

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