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  1. #1
    Charter Member
    us
    MINELAB XS-2 Pro ....... XTERRA 305 ....... EXPLORER SE PRO

    Dec 2003
    S.W. Schuylkill County
    45,236
    4601 times
    All Types Of Treasure Hunting

    Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    as Banks Send Them Back as unwanted.

    WASHINGTON The Federal Reserve Banks are accumulating a huge stockpile of Presidential $1 Coins because depository institutions (local banks) have been re-depositing the coins back into the Federal Reserve system, indicating consumers are not accepting wide-spread use, according to CoinNews.


    six more years of this insanity to go.

    http://www.americancoinop.com/articl...rticleID=18056

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  3. #2
    us
    Jan 2006
    Palm Harbor, FL
    excal / Fisher
    681
    63 times
    Honorable Mentions (1)

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    If you look up US Mint they have a release schedule. Here is their web site http://www.usmint.gov/index.cfm?flash=yes
    Here is the web site with release schedule. http://www.usmint.gov/mint_programs/$1coin/?action=schedule
    Only the first 12 presidents have been released. This is similar to the 50 state quarter program.

  4. #3
    us
    Dec 2008
    Berks Co. PA
    Bounty Hunter Tracker IV & GC1023
    352
    3 times

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    Simple solution. Take dollar bills out of circulation.

    And for those of you who think this a bad idea, think of it this way, a metal detector will not detect a dollar bill.
    "If your not living on the edge your taking up too much room."

  5. #4
    us
    Dec 2008
    ARIZONA
    lucky horseshoe
    280

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    DATE: 04/12/2108 TIME : 18:30


    QVC- "we have a special tonight, just released from the federal reserve.......

    ..................ladies and gentleman these coins are over 100 years old"


    Cachefinder-
    Never trust a man that says "Trust Me"

  6. #5
    Charter Member
    us
    MINELAB XS-2 Pro ....... XTERRA 305 ....... EXPLORER SE PRO

    Dec 2003
    S.W. Schuylkill County
    45,236
    4601 times
    All Types Of Treasure Hunting

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    Quote Originally Posted by Cachefinder
    DATE: 04/12/2108 TIME : 18:30


    QVC- "we have a special tonight, just released from the federal reserve.......

    ..................ladies and gentleman these coins are over 100 years old"


    Cachefinder-
    Yea & Still only the people on QVC
    will Want them

  7. #6
    Charter Member
    us
    May 2005
    Northern California
    7,301
    1689 times
    All Types Of Treasure Hunting

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    Yeah, I don't know when they will stop making these things. I'd much rather walk around with 12 dollar bills in my pocket as opposed to 12 coins that are larger than quarters.
    Banking off a Northeast wind, sailin' on a summer breeze

  8. #7
    us
    Jan 2006
    Palm Harbor, FL
    excal / Fisher
    681
    63 times
    Honorable Mentions (1)

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    Well the program runs through 2016, with the last coin in the series as President Gerald R. Ford. So there are several additional presidents after that but they are currently living.

  9. #8
    us
    May 2009
    Texas
    Garrett Ace 250
    272
    1 times

    Re: Federal Reserve Holds Surplus of Presidential Dollar Coins ...

    Quote Originally Posted by P.B. and Dylan
    Simple solution. Take dollar bills out of circulation.

    And for those of you who think this a bad idea, think of it this way, a metal detector will not detect a dollar bill.
    On the surface, this seems like a good idea. But, I think if we were to lose the $1 bill (as a precedent to the other bills) it would not be to promote using coins, but to promote not using physical currency at all. Large coins are very inconvenient and people would prefer to just use credit or debit instead and push us even further away from having a currency that is in any way substantial. not to mention the effect on society this would have, but for detectorists it would be a nightmare.
    "You revere me; but what if your reverence tumbles one day?  Beware lest a statue slay you! -Nietzsche

 

 

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