Federal Reserve Holds Surplus of Presidential Dollar Coins ...

[jeff of pa]

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/article.cfm?articleID=18056

 

[kc10bull]

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.

 

[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.

 

[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-

 

[jeff of pa]

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

 

[packerbacker]

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.

 

[kc10bull]

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.

 

[EpsilonMinus]

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.