Demand for circulation-quality 2022 American Innovation, Rhode Island dollars from the U.S. Mint was strong enough to absorb the bureau’s inventory of projected overall production.

In fact, the demand for the coin prevented ballistic bags (each containing 140,000 coins) from being offered to bulk coin purchasers. Those buyers had to make retail product purchases in the 100-coin bags and 25-coin rolls that were offered to all customers. The ballistic bags weigh 2,500 pounds.

The Rhode Island dollars sold were purchased via the Mint’s enrollment option or individual online sales.

The U.S. Mint has been pushing the enrollment option as a means to better project demand and schedule necessary production at the respective Mint facilities.

Mint officials indicate that projected production figures were established months ago, and the number of coins struck represent what the bureau believed would be close meeting demand, with adjustments made based on material supplies and other factors.

The Mint continues to focus on “mission essential” products first and numismatic products after that, according to Mint officials.

The American Innovation and Native American dollars are struck in circulation quality for release only as numismatic products, at premiums above face value; none of the manganese-brass clad dollar coins directed to general circulation.

The U.S. Mint offered 100-coin canvas bags and 25-coin rolls of circulation-quality Rhode Island dollars from output at either the Denver Mint or Philadelphia Mint on Feb. 23.

The bags were offered for $117.50 and the rolls for $34.50 each.

According to U.S. Mint spokesman Michael White, as of Feb. 27, the Mint recorded combined sales of 899,800 of the Rhode Island dollars — 449,875 coins from production at the Philadelphia Mint and 449,925 coins from output at the Denver facility.

The sales include 276,200 coins from each facility contained in 2,762 of the 100-coin bags from each of the two Mints.

Roll sales total 6,947 rolls from Philadelphia, reflecting 173,675 coins, and 6,949 Denver rolls reflecting 173,725 coins.

The Mint did not offer the ballistic bags options for the Rhode Island coins. Bulk buyers had to acquire the coins in the 25-coin rolls and 100-coin bags. That option had been offered for earlier coins in the program.

American Innovation dollars are not released to circulation through the Federal Reserve. Circulation release of dollar coins struck at the U.S. Mint was suspended Dec. 13, 2011, by then Treasury Secretary Timothy F. Geithner, because more than 1.3 billion Sacagawea and Presidential dollars filled storage vaults contracted by the Federal Reserve.

The last dollar coins struck and released into commerce channels were the 2011 James A. Garfield, Presidential dollars.

The U.S. Mint has had supply chain issues over the past 18 months to two years, struggling to obtain sufficient metals for the manufacture of multi-ton rolls of coinage strip from which blanks are punched and formed into strikable planchets for six denominations.

Mint officials indicate no excess coinage strip rolls are stored on-site at the respective facilities — planchets and coinage production is executed shortly after materials are received.

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