WASHINGTON — The United States Mint announced today a new program to ship circulating Presidential $1 Coins directly to retail establishments, financial institutions, and members of the public. The $1 Coin Direct Ship Program provides individualized service to the financial community and other interested parties who wish to acquire $1 coins at face value in smaller quantities than currently available to financial institutions.
“Retailers and financial institutions want to be responsive to customers’ requests for the Presidential $1 Coin,” said United States Mint Director Ed Moy. “The $1 Coin Direct Ship Program will help them to easily obtain the number of coins that best suits their needs.”
The United States Mint is initiating this program to proactively comply with a directive in the Presidential $1 Coin Act of 2005 to remove barriers and improve circulation of the $1 coin.
The $1 Coin Direct Ship Program is intended to complement–not substitute for–the Federal Reserve Banks’ coin ordering systems. The role of the Federal Reserve Banks is to distribute bulk quantities of coin to depository institutions, which in turn distribute to branches, other financial institutions and the public. Market research conducted by the United States Mint found that some retailers and smaller banks would prefer to obtain Presidential $1 Coins in small quantities. By fulfilling these needs, the United States Mint $1 Coin Direct Ship Program complements the Federal Reserve’s coin ordering systems and, at the same time, helps to encourage circulation of $1 coins.
The circulating Presidential $1 Coins will be available in 25–coin rolls packaged in quantities of 10 rolls per box, priced at $250 face value. The coins will not be separated by mint mark. Customers may order up to 500 $1 coins (two boxes) within any given Presidential $1 Coin issuance period. The United States Mint will pay shipping and handling fees on orders delivered via standard shipping methods. Orders requiring special handling (e.g., shipping upgrades) will be billed to the customer.
Customers may order the circulating Presidential $1 Coins through the United States Mint’s Direct Ship Program at its secure Web site, http://www.usmint.gov/mint_programs/coin/, or at the toll–free number, 1–800–USA–MINT (872–6468). All sales under the Direct Ship Program are final.