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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.
http://www.coinworld.com/articles/solution-to-dollar-coin-surplus-exists-but-di/
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.
http://www.coinworld.com/articles/solution-to-dollar-coin-surplus-exists-but-di/
