2007 Sacs in green rolls?

[Keleum]

I saw on eBay some green rolled 2007 SACs for sale, are they in circulation. I thought the only way to get them was through the US Mint. Are they available at banks like the new dollars. Is that part of the law to mint and distribute them?

[Conder101]

It is part of the law to strike them and distribute them in circulation. However since the Fed works on a first in first out basis (Except for the special program that banks have a 3 to 4 week window where they can order solid date rolls of each new president dollar) and the Fed probably still has tens of millions of 2001 & GW dollars in stock, it may be as long as 10 to 14 months before the 2007's start trickling out to the banks. (If they have half of the GW mintage still in the vaults it could be as long as 20 months before they are distributed at the normal 7 million coin per month drawdown rate.) The ones on eBay are probably coins that someone has purchased from the mint by the bag, searched and rerolled.

[bsshog40]

Don't know if I'm right Conder, but aren't these mostly distributed for vending machines also. Like the USPS and so forth?

[Dwaine]

Do all vending machines accept the dollar coin or only ones that display they accept them?

[Keleum]

2007 Sac green rolls

 

That's exactly what i was wondering if the USPS or some other agency gets these coins for change or something before the fed hands them out. Are these supposed to be something I can find/request at a bank.

[carson city]

N.F.String, located in Harrisburg Pennsylvania, is a contract coin wrapper and distributer for the US Mint. Literally thousands of bags of various denominations are wrapped on a daily basis. See GOOGLE for more info.

[Conder101]

Sorry was out of town.

 

The Stamp Machines at many post offices do return dollar coins in change. Many large cities that have major mass transit systems (mostly trains and subways) tend to use the dollar coins frequently and so you will often get them there (this is the main reason for the 7 million coin per month drawdown from the Fed)

 

Here is where the problem is getting the 2007 dollars out by these means. The banks can order the president dollar and get solid date rolls during a four week window. Two weeks before they are introduced and two weeks after. If they order outside of that window they get mixed dollar rolls. Now the Fed works on a FIFO inventory system (First In First Out). So as long as they have mixed dollar, 2001 Sac dollars and unordered GW president dollars on hand, they will ship those before they ship the 2007 Sac dollars. The way I see it, at the 7 million coin per month drawdown rate they have probably a 20 to 24 month supply of dollars on hand before they get to the 2007 Sacs. Add to that delays caused by the ordering period for each of the president coins as they come out and it may be even longer. Other than the occaisional small batch they may get shipped from time to time, I think it would be very long time before we see them at the banks, and collectors who want them would probably do better to either order them from the mint, or if you just want a couple, to buy them from dealers who have bought them from the mint.

[Keleum]

Thanks Conder, thats what I was wondering. I didn't know how the coins were distributed. Is the same true for nickels, dimes and pennies. I can find a lot of 2007 pennies, and I've run across a nickel or 2, but I haven't seen any 2007 dimes. Are the pennies just because the mint wants to replace the old ones, that are worth more than a penny now?

[Conder101]

The cents are the first coins to appear each year because they have the highest attrition rate. For the most part the life cycle of a cent is: Struck at the mint, sent to the Fed, sent to the bank, given to a merchant for making change, given to a customer in change, tossed into a jar and removed from circulation so now another cent has to be struck to replace it.

 

Cents have a >15% per annum attrition rate. So within about four years of a cents release half of them are gone into those jars. This means that the mint is cranking out cents like made just trying to keep ahead their disappearance. (If the publice were to start hoarding for their metal content the copper cents still in circulation the sudden drop on available coins would require the mint to greatly step up production over what it already is.) For that reason they flow out into circulation almost immediately and the Fed has trouble keeping them in stock. Other coins flow out much more slowly. The half dollar being the slowest snce they are not in demand for use by anyone except casinos for paying off blackjack bets. (Unlike the dollar coins they do not work in vending machines and are not in demand by the mass transit industry) For that reason the Fed still has plenty on hand six years after they stopped making them for circulation.