More about Sacs

kathy1945 wrote:
My Red Book shows a (low starting in '03) mintage for each year, with
no indication (like you see with Kennedy halves) that they weren't
meant for circulation. Of course, it shows the S mint as proof only.
I guess I'm misunderstanding something.

Those low mintage figures are accurate, they were struck for only collector
sale in rolls, bags and mint sets. However, there is some fairly strong
evidence to indicate that the USMint disposed of their unsold inventory of
those coins by placing them into circulation.

The low mintages are due to an overproduction of them in 2000 and it was
likely that the USMint would have had to start up regular 'business-strike'
(circulation) production runs of 100-150M coins/year sometime in 2008 had the
Presidential program not started.

--
___________________________________________ ____ _______________
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| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
___________________________________________ | | | | | | _______________

On Sat, 24 Mar 2007 22:58:25 GMT, Jim Seymour
wrote:

Some perspective: Based on previous years, the collector demand
accounts for about 5-7 million coins per year - yet they will probably
have to mint about 400 million this year alone.

I admit it, I have been distracted from the hobby for months. This
evening I placed a 'catch up' order with the mint equal to a week's
pay : (

But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

Vector wrote:
But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

The legislation authorizing the presidential dollars requires that 1/3
of the annual dollar coin production be of Sacagawea coins.

The mint claims to have minted roughly 300 million Washington dollars.
If they keep that pace up for the other three, that means 1.2 billion
presidential dollars this year - which would require 400 million Sacs.

--
Jim Seymour

On Mar 26, 2:24�am, Vector wrote:
On Sat, 24 Mar 2007 22:58:25 GMT, Jim Seymour
wrote:

Some perspective: *Based on previous years, the collector demand
accounts for about 5-7 million coins per year - yet they will probably
have to mint about 400 million this year alone.

I admit it, I have been distracted from the hobby for months. *This
evening I placed a 'catch up' order with the mint equal to a week's
pay *: (

But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

Congressional action. Public Law 109-145 (Title 31, U.S. Code,
section 5112, paragraph 102(n)(1)(B)(ii):

quote (ii) CIRCULATION QUANTITY. -- Beginning January 1, 2007, and
ending upon the termination of the program under paragraph (8), the
Secretary annually shall mint and issue such 'Sacagawea-design' $1
coins for circulation in quantities of no less than 1/3 of the total
$1 coins minted and issued under this subsection. unquote

http://frwebgate.access.gpo.gov/cgi-... l145.109.pdf

or

http://tinyurl.com/ma9yv

If the Mint has to strike 400 million Sacs, it'll be because they
struck 800 million Presibux. If the GWs are any indication, there
will be more than 400 million Sacs struck. Based on the GWs alone,
the Mint is required to strike 170 million Sacs at the moment.

Jerry

"Jim Seymour" wrote in message
...
Vector wrote:
But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

The legislation authorizing the presidential dollars requires that 1/3 of the
annual dollar coin production be of Sacagawea coins.

The mint claims to have minted roughly 300 million Washington dollars. If they keep
that pace up for the other three, that means 1.2 billion presidential dollars this
year - which would require 400 million Sacs.



If they strike 1.2 billion GW$, then wouldn't that then mean 600+ million Sacs?

jim menning wrote:
"Jim Seymour" wrote in message
...
The legislation authorizing the presidential dollars requires that
1/3 of the annual dollar coin production be of Sacagawea coins.

The mint claims to have minted roughly 300 million Washington
dollars. If they keep that pace up for the other three, that means
1.2 billion presidential dollars this year - which would require
400 million Sacs.

If they strike 1.2 billion GW$, then wouldn't that then mean 600+
million Sacs?

Yeah. I mis-spoke earlier. It's not 1/3 of the annual dollar coin
production, but 1/3 of the annual *presidential* dollar coin production.

....I think...

Here's what the legislation says:

(ii) CIRCULATION QUANTITY- Beginning January 1, 2007, and ending upon
the termination of the program under paragraph (8), the Secretary
annually shall mint and issue such 'Sacagawea-design' $1 coins for
circulation in quantities of no less than 1/3 of the total $1 coins
minted and issued under this subsection.

I think "under this subsection" means only the presidential dollars.
Thus, they must issue Sacagawea dollars totaling 1/3 of the 1.2 billion,
or 400 million.

References:
http://en.wikisource.org/wiki/Presid...in_Act_of_2005
http://en.wikipedia.org/wiki/Sacagawea_dollar#Future

--
Jim Seymour

1) They will not strike 1.2 billion George Washington dollars ("GW$"). They may very well
strike 1.2 Billion total for the combined four first presidents on the Presidential Golden
Dollars released in 2007.

2) It depends on the definition of "is".... if they say that 1/3 of the total number of
dollar coins minted must be Sacagawea, then you total all dollar coins made and 1/3 must
be Sacagawea. If they say that Sacagaweas must be minted in numbers equal to 1/3 of the
total Presidential dollars minted, then that means that 1/4 of the grand total of dollar
coins must be Sacagaweas.

-Fred Shecter

--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"jim menning" wrote in message
...

"Jim Seymour" wrote in message
...
Vector wrote:
But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

The legislation authorizing the presidential dollars requires that 1/3 of the annual
dollar coin production be of Sacagawea coins.

The mint claims to have minted roughly 300 million Washington dollars. If they keep
that pace up for the other three, that means 1.2 billion presidential dollars this
year - which would require 400 million Sacs.



If they strike 1.2 billion GW$, then wouldn't that then mean 600+ million Sacs?

"Fred Shecter" wrote in message
...

1) They will not strike 1.2 billion George Washington dollars ("GW$"). They may
very well strike 1.2 Billion total for the combined four first presidents on the
Presidential Golden Dollars released in 2007.


Correct, I meant to say 2007 presidential dollars, not GW$1.


2) It depends on the definition of "is".... if they say that 1/3 of the total
number of dollar coins minted must be Sacagawea, then you total all dollar coins
made and 1/3 must be Sacagawea. If they say that Sacagaweas must be minted in
numbers equal to 1/3 of the total Presidential dollars minted, then that means that
1/4 of the grand total of dollar coins must be Sacagaweas.

-Fred Shecter

--
"""Remove "zorch" from address (2 places) to reply.
http://www.sirius.com/


"jim menning" wrote in message
...

"Jim Seymour" wrote in message
...
Vector wrote:
But, tell me ... since I missed it elsewhere ... why does the mint
'have to' mint 400 million SACs this year?

The legislation authorizing the presidential dollars requires that 1/3 of the
annual dollar coin production be of Sacagawea coins.

The mint claims to have minted roughly 300 million Washington dollars. If they
keep that pace up for the other three, that means 1.2 billion presidential
dollars this year - which would require 400 million Sacs.



If they strike 1.2 billion GW$, then wouldn't that then mean 600+ million Sacs?

Poor Sacagawea, there will be ~500 million of her sitting in some
moldy wearhouse.

I hope some lawmaker notices this horrible waste and reduces the 1/3
amount to something sensible, like 1/5

Jass wrote:
Poor Sacagawea, there will be ~500 million of her sitting in some
moldy wearhouse.

I hope some lawmaker notices this horrible waste and reduces the 1/3
amount to something sensible, like 1/5

Good guess.

http://thomas.loc.gov/cgi-bin/query/z?c110:s585:

(5) QUANTITY- The number of $1 coins minted and issued in a year with
the design in accordance with this subsection shall be not less than
20 percent of the total number of $1 coins minted and issued in such
year under this subsection and subsection (n).

It's still a long ways from being a law, but at least the process has
started...

--
Jim Seymour