Small-Denomination Coins: Uncovering the Rarity of Cheerios Dollars

In the early 2000s, Cheerios Dollars were introduced to cereal boxes, and have since become highly sought-after collectibles. To learn more about the value of these dollars, please refer to the article below. Let us investigate this phenomenon together!

1. The Cheerios Dollar

In 2000, the U.S. Mint launched an initiative to promote the new “Golden Dollar” coin. As part of this effort, Sacagawea Coins with the date 2000 were included in boxes of Cheerios cereal. Marketing of 10 million boxes of Cheerios, each containing a 2000 Lincoln Cent, was conducted. Notably, a Sacagawea Dollar with a distinct set of master dies was discovered among them.

In 2000, the Susan B. Anthony dollar coin was replaced by the Sacagawea Golden Dollar, featuring an obverse designed by Glenna Goodacre. The coin depicts a young Shoshone woman with her son Jean-Baptiste strapped to her back. Randy’L Teton, a 22-year-old Idaho Shoshone woman residing in New Mexico, served as the primary source of inspiration for Goodacre’s design.

Collectors typically classify the uncommon coins, often referred to as Cheerios Dollars, as pattern coins due to the increased number of eagle tail feathers on the reverse side, distinguishing them from regular Sacagawea Coins.

In February 2005, five years after the initial issue of the Sacagawea Dollar, lucky collectors rediscovered patterns of the coin in their possession. This discovery, initially known as Cheerios Dollars, was an astounding find.

Employees of NGC have declared this discovery to be one of the most exciting in the history of contemporary coinage, a sentiment which may be an understatement. It is strange that these coins have only recently gained recognition, five years after their introduction.

Collectors typically classify the uncommon coins, often referred to as Cheerios Dollars, as pattern coins due to the increased number of eagle tail feathers on the reverse side, distinguishing them from regular Sacagawea Coins.

Approximately 60-70 examples of Sacajawea dollars with improved tail feathers have been identified to date. Depending on the quality, these coins can range in price from $5,000 to $25,000. Contrary to earlier assumptions, numismatic experts have determined that not all Sacajawea dollars in the boxes feature the improved tail feathers.

2. How Many Cheerio Dollars Are There?

In an effort to promote the 2000 “golden” Sacagawea Dollar coins, the US Mint partnered with Walmart and Sam’s Club in late 1999 and early 2000. Additionally, General Mills joined the initiative by including a Sacagawea dollar from the year 2000 in every 2000 boxes of Cheerios cereal.

Experts from a third-party grading company opened a sealed box of Cheerios to discover a standard Sacajawea dollar without the added tail feathers.

It is difficult to ascertain the exact quantity of Cheerios boxes that contained a Sacajawea Dollar with enhanced tail feathers. Additionally, the cereal box seemed genuine, and there was no indication that anyone had interfered with the card holding the Sacajawea dollar.

Tom DeLorey, a numismatist, inspected a sample of the new Sacagawea coin prior to its widespread distribution in the fall of 1999. He noted that the eagle on this particular sample had 12 tail feathers, while those on coins intended for general circulation had 13.

In 2005, Tom Rogers, designer of the reverse of the coin, revealed that the eagle had always had 12 feathers, though its appearance had changed significantly. In fact, the coins from 1999 were pattern coins with tail feathers that were more intricately designed. On June 17, 2007, Joyce Harris, a spokeswoman for the United States Mint, released an official statement confirming that 5,500 Golden Dollars of a ‘high detail’ feather variety (12 tail feathers) were produced and shipped to General Mills in October 1999. The agreement stipulated that the coins were not to be released until January 2000.

Prior to the coins being issued to the Federal Reserve in 2000, a die production fault was addressed by recessing the central tail feather and softening the feather detail. Unintentionally, this created the appearance of a 13th feather.

3. Why Are They so Valuable?

Coin collectors discovered two variants of the 2000 Sacajawea coin as they began to assemble complete sets of Sacajawea dollars. This was first noted in R. S. Yeoman’s A Guide Book of United States Coins (commonly referred to as “The Redbook”), 60th Edition, published in 2007.

Bill Fivaz & J. T. Stanton’s fourth edition of the Cherrypickers’ Guide To Rare Die Varieties Of United States Coins mentions the Enhanced Reverse Die, catalogued as FS-C1-2000P-901, in Volume II.

A knowledgeable collector seeking to assemble a complete set of Sacajawea dollars, including all die variants, will require one of the few known specimens to complete their collection.

4. Closing Thoughts

The cause of the scarcity of Cheerios Dollars remains uncertain; some suggest that they were all used during their period of circulation, while others posit that they are simply tucked away in people’s piggy banks and drawers, awaiting discovery.

Numismatic hypotheses notwithstanding, specimens continue to be discovered, both in circulation and in dealers’ “rubbish boxes”.

Two specimens of the Cheerios Dollar have been certified by NGC, while PCGS has certified 107. The highest price ever paid for a PCGS MS-68 specimen of the Cheerios Dollar was $29,900, which occurred in Signature Auction #1108 of the May 2008 Heritage Auction in Long Beach, California.

Given the rarity of the 2000 Sacajawea dollar die variety, it is recommended to inspect each specimen encountered and to request to view any held by dealers who may be unaware of its existence. As such, one can never be certain of what may be discovered.

Having examined the article, you now understand the value of Cheerios dollars. As you come across each $2000 Sacajawea, you know what to look for.
Should you have any further queries, please do not hesitate to contact us.

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