if you were among the collectors miffed at the mint charging 12.50

[halfpint]

 

...for the direct ship program, this news should make your day.

[shirohniichan]

In November 2011, a $12.50 fulfillment fee was added to the program. This fee created a deterrent to anyone actually seeking to use the program to purchase coins for the purpose of spending them at face value.

 

Um, I actually bought a box of 250 with the sole purpose of spending them at face value. I thought that's what I was supposed to do. Am I supposed to keep the 50+ I have left as a way for the Fed to profit off legal tender removed from circulation?

[halfpint]

In November 2011, a $12.50 fulfillment fee was added to the program. This fee created a deterrent to anyone actually seeking to use the program to purchase coins for the purpose of spending them at face value.

 

Um, I actually bought a box of 250 with the sole purpose of spending them at face value. I thought that's what I was supposed to do. Am I supposed to keep the 50+ I have left as a way for the Fed to profit off legal tender removed from circulation?

 

...i thought i was helping circulate them by buying boxes from the mint. i didn't mind when they were not charging for shipping. after all they used to be available from the banks for face. i don't think i should be paying to circulate them.

[Conder101]

I think you are misinterpreting the meaning of the sentence. What they MEANT to say was

 

"This fee became a deterrent to anyone actually seeking to use the program to purchase coins for the purpose of spending them at face value."

 

 

Going forward, collectors will have some new bulk options for purchasing $1 coins. Within the Federal Register, the US Mint published prices for 100-coin bags ($111.95), 250-coin boxes ($275.95), and 500-coin boxes ($550.95).

Notice that second one? That is the same 250 coin box that originally was face value, then face plus $12.50, which will now be face plus $25.95

 

Here is an interesting fact. According to the article the direct ship program shipped out 244 million coins during the 3 1/2 years of the program.

 

The SBA program with Wal-Mart in 2000 resulted the distribution of 95 million coins in one month. They considered the Wal-Mart program a failure. Three and a half years of the Wal-Mart program would have been 4 billion coins which is more small dollars than have been produced since 1979.

[halfpint]

...i've been known to misinterpret a thing or two from time to time.