Today’s Mail Bag question came in last week as a comment on an article about the upcoming Georgia American Innovation Dollar. Their question is about the fact that the United States Mint only sells these coins in bags & rolls – why?
Howard writes:
hi – i am new to this too…so if this is not the correct place to posit this query – please let me know…. my question…is why are the P & D innovation dollars not offered in sets? not everyone can afford bags and/or rolls and many don’t don’t want and/or need all those duplicates…….seems the only way to assemble a complete set of innovations dollars is to but them individually on the secondary market…. thanks!
The primary reason that the American Innovation dollars are sold in bags and rolls has to do with the fact that the US Mint doesn’t release them into general circulation. They produce the coins primarily for collectors and, to make the endeavor worth the effort, they sell them essentially in bulk.
To your other question Howard, what to do with the duplicates. Many collectors simply sell off the remaining coins via eBay or other online services. Those coins are sold at a premium, generally around $2 each. So for example, if you buy a roll of the dollars, keep two for your self, and sell the remaining 23 at $2 each, that means you will make $46 in sales, or $13.05 in profits after the cost of the rolls. The profits are even greater on the 100-coin bags.
This is what I do personally when I buy these rolls upon each release.
I hope this helps answer your question Howard.
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By-the-way, the Georgia AI dollar sales start later today.
thank you for your expedient reply! it answers all save the following….you said that the mint doesn’t release these into circulation…because they’re primarily made for collectors….that’s why they’re sold in rolls and bags….however….a LOT of other mint products are not released into circulation either – the commemorative coins, the american silver dollars, the later native american dollars – these too, are all primarily made for collectors….and all the mint and proof sets…..yet virtually ALL of these are available without having to buy hundreds or even dozens of each….guess i’m more confused by what i perceive as a huge INCONSISTENCY with what the mint will and won’t include as part of their normal “annual” sets….even the P & D presidential dollars were available in their “own” sets – without having to buy rolls and/or bags….. why the “change” (forgive the pun!) all of a sudden? thanks!
I can’t necessarily explain the change (perhaps someone else can chime in on it). I suspect – pure speculation on my part – that in some cases, they are not seeing enough sales of individual coin or P&D sets to justify doing them. And as far as the Presidential coins, they were aimed for circulation.
It is certainly possible in 2020 we will see the AI dollars as part of the mint sets but I don’t know that for fact.
hi – agree, that part of the issue may be not enough sales of the individual P & D sets…..
but here’s “my” logic…..if people aren’t going to buy enough of the P & D sets to warrant sales inclusion…why then mint the same by bags and rolls…..and in doing so…”purposely” price those who only want one or two to complete collections out of the market entirely….. i’m, just failing to comprehend “why”…… they aren’t at least included as part of the regular annual proof and mint sets….i really sell no rhythm or reason why the can’t (or refuse to do so) take 1 P and 1 D from their total mintage and include them in the mint sets WITH all the other P & D denominations……
hey…i wonder if this can be considered coin… “denominational”….discrimination…..against the “other wise” included……(smile) heheheh!