The first Presidential dollar of 2008 — James Monroe — is scheduled to be released on Feb. 14. ,followed by John Quincy Adams on May 15, Andrew Jackson on Aug. 14 and Martin Van Buren on Nov. 13.

Although the Mint is hoping the dollar coins will find their way into circulation, it appears that almost all of the interest in the new presidential dollars is coming from collectors.

“We hope the next four presidential $1 coins will not only jingle in pockets but be spent as well,” said Mint director Ed Moy. “These coins are convenient. Each presidential $1 coin weighs less than four quarters, and they’re especially useful for vending machines and mass transit.”

Of course one would expect such a comment from the Mint Directors, especially since prior attempts at introducing a dollar coin ( Susan B Anthony and the Sacagawea) were both dismal failures.

It seems that many people have never even seen one of the dollars in circulation. I know personally here in Central Florida I have never been given a “dollar coin” in change or even seen one in a retailer cash drawer. In fact after several trips to a few local banks requesting a roll, I was told that they would have to “Order the coins: and that they had none on hand. If their banks aren’t even ordering supplies of the new coins, what are the chances they will be found in circulation?

One might conclude then that collectors are the primary source for demand of the dollars, obtaining rolls to look for rim errors that have been reported on all four of the coins released last year. The errors all involved edge printing, either overprinting of multiple strikes or an absence of printing altogether. Coin World even reported that a Sacagawea dollar had been found with the edge printing.

More than 800 million dollar coins were ordered by the Federal Reserve in 2007, but the number declined with each new release, from more than 340 million of the George Washington dollar down to an estimated 140 million of the Madison coin.

It is not clear how many made it into circulation — I’m still waiting to get my first one in change.