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.