Today May 25, 2012 at 12:00 Noon ET, the United States Mint will begin sales of Grover Cleveland Presidential Dollars in rolls, bags, and boxes. These coins are not issued for circulation, but only available through numismatic product offerings.
Grover Cleveland served as the 22nd President during the years 1885-1889. The obverse design of the coin features his portrait designed and sculpted by Don Everhart. The reverse design of the coin features an image of the Statue of Liberty, also by Everhart.
Later this year, another Presidential Dollar will be issued for Grover Cleveland’s second term as President from 1893-1897. Under the requirements of the Presidential $1 Coin Act, Presidents who served in nonconsecutive terms are honored for each nonconsecutive period of service.
The Grover Cleveland Presidential Dollar (First Term) will be available for sale in 25-coin rolls priced at $32.95, 100-coin bags priced at $111.95, 250-coin boxes priced at $275.95, and 500-coin boxes priced at $550.95. Each option is available from either the Philadelphia or Denver Mint. All bags, rolls, and boxes contain circulating quality coins in US Mint branded packaging that indicates the release, mint mark, and face value of the contents.
A shipping and handling charge of $4.95 is added to each order. An additional charge of $7.95 is imposed for each 500-coin box ordered. This extra charge makes the lowest cost per coin option the 250-coin boxes. If one 250-coin box is purchased, the cost per coin including shipping is $1.1236.
So far, demand for Presidential Dollars has been surprisingly large following the suspension of production of the series for circulation. The previous release featuring Chester Arthur has sold 7,304,275 coins through the available bags, rolls, and boxes. Prior to the start of sales, the US Mint had projected total collector demand per release to be 5 million coins.
Through the end of April, the US Mint has produced 6.72 million of the Grover Cleveland (first term) coins. Additional production may take place based on customer demand.
The US Mint has established a new pattern of leaving Presidential Dollar rolls, bags, and boxes available for about one year from the start of sales. The end of sales has been timed to coincide with the start of sales for the release one year ahead in the schedule. As such, sales of the Ulysses S. Grant rolls should end today.