The United States Mint has introduced a service for businesses and others to purchase new quarter-dollars in volume through the America the Beautiful Quarters Bulk Purchase™ Program.
The program offers the opportunity to buy a bulk bag containing 200,000 same-design quarters from U.S. Mint facilities at Denver or Philadelphia. The cost for the bag is the face value of the coins within, $50,000, plus a 3% processing fee which brings the total up to $51,500.
Why did the Mint create the program? It explains that:
Recent economic conditions have led to an oversupply of prior year-dated quarters in the banking system. As a result, businesses relying solely on the banking system may be unable to obtain large quantities of America the Beautiful Quarters coins on a regular basis. This program provides an option to those interested in obtaining America the Beautiful Quarters in volume.
There are several requirements to place and receive the quarters, including:
- Payment only by bank wire funds transfer
- The Mint will not ship the bags. A buyers must arrange for a "properly licensed commercial carrier" to pick up the coins from the particular Mint facility.
- Additionally, the buyer "must arrange clearance from the United States Mint facility for the truck and driver prior to establishing a pickup date."
The America the Beautiful Quarters Bulk Purchase Program has a couple of interesting facets. Orders may be placed up to one week before a new coin is released into circulation by the Federal Reserve banking system. (See America the Beautiful Quarters release dates.) But more interesting, which can also affect collectors watching quarter mintages, buyers can request previously released quarters that are not longer being shipped from the U.S. Mint to the Federal Reserve Bank. Provided time and resources are available, the Mint will make older coins available, which would bump up mintages. The Mint’s Q&A on the subject (http://usmint.gov/mint_programs/atb/bulk/) states:
Orders for previously released coins will be accepted as long as unassigned inventory exists. The United States Mint may produce additional coins to satisfy orders throughout the year for the first few designs if time and resources permit; however, there is no guarantee, and orders may be refused. As the end of the calendar year approaches, flexibility in supplying previously released quarters diminishes. Additionally, Federal Reserve Bank orders will take precedence over the bulk purchase orders, which may affect the United States Mint’s ability to fill new orders for previously released coins.
The program is obviously designed for larger entities or those with deeper pockets. The average collector is encouraged by the Mint to buy the new America the Beautiful Quarters in greater quantities via its traditional bag and roll products. For any new quarter-dollar release, the Mint offers the buying public:
- Two-Roll Quarter Sets that include 80 circulation strike quarter-dollars, with one roll containing 40 coins with the Philadelphia “P” mint mark and the other roll with the Denver “D” mint mark. The price is $32.95.
- 100-Coin Quarter Bags (P) contain circulation strikes of the quarters minted in Philadelphia. At a $35.95 price, the premiums for each bag is $10.95.
- 100-Coin Quarter Bags (D) contain circulation strikes of the quarter-dollars minted in Denver.
Currently, these smaller quantity rolls and bags are available for the Hot Springs National Park Quarter and the Yellowstone National Park Quarter.
For more information, read the Mint’s press release announcing the bulk program.