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  1. #1

    Dec 2003
    Western Schuylkill County
    MINELAB EXPLORER SE PRO ....... Garrett Pro Pointer…… Sovereign XS-2 Pro ....... Deteknix Xpointer Diver.... Fisher F19
    24326 times
    All Types Of Treasure Hunting
    Honorable Mentions (1)

    Solution to dollar coin surplus exists, but difficult in U.S.

    the Federal Reserve — is reporting its surplus inventory of Presidential dollars has ballooned to 1.252 billion coins in three and a half years. Storage has become such a problem that the Fed is building a new facility at a cost of approximately $650,000 at the Federal Reserve Bank of Dallas to handle surplus inventory. By 2016, when the Presidential dollar program is expected to end, the Fed is estimating it will have more than 2 billion $1 coins sitting in storage vaults.

    The only solution offered thus far is to eliminate the requirement that 20 percent of all dollar coins struck be Native American dollars (which are not even distributed through banking channels).

    Apparently no one has the courage to suggest that the remainder of the Presidential dollars be produced to demand, which would essentially make the program a numismatic enterprise for the U.S. Mint. That would satisfy collectors, who appear to be the only segment of the population interested in the Presidential dollar coins, and cut the continuing build-up of the surplus.


  2. #2
    Dec 2008
    St. Augustine, FL
    1080 times

    Re: Solution to dollar coin surplus exists, but difficult in U.S.

    ... or quit printing the dollar FRN. The dollar will continue to be minted at a profit to the government. The Federal Reserve is obligated to purchase the coins at face value. The difference in the cost to make and face value is called seigniorage.

  3. #3
    Charter Member

    Nov 2006
    Where good deeds are performed daily
    Garrett Fortune Hunter, Garrett American S3, Compass Coin Magnum and a couple of others you will only find in museums!
    7394 times
    All Types Of Treasure Hunting

    Re: Solution to dollar coin surplus exists, but difficult in U.S.

    Democracy: The only system where
    two idiots can out-vote one genius



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