StarBulletin.com

At least $1M in isle quarters sold


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POSTED: Wednesday, November 26, 2008

First Hawaiian Bank has distributed thousands of rolls of quarters to those who want a piece of paradise.

Since the debut of Hawaii's quarter two weeks ago, the bank has distributed almost $1 million worth of coins, according to marketing director Brandt Farias.

Hawaii was the final state to be honored in the popular 50 State Quarters Program. About 520 million Hawaii quarters will be produced by the U.S. Mint.

Farias said many residents exchanged bills for $10 rolls of quarters when the coins were released on Nov. 10 but demand has recently tapered off.

Currently, the bank's commemorative coin supply is running low. There are no reorders at this time. However, bank officials are talking with the U.S. Mint about potentially ordering more quarters should demand increase during the holiday season.

Coin distribution figures at American Savings Bank and Bank of Hawaii were not available yesterday.

Greg Hunt, president of the Hawaii State Numismatic Association, said he was surprised to hear the high amount of commemorative quarters sought by isle residents.

“;I think the people of Hawaii, they believe the coin is a true representation of Hawaii,”; said Hunt, who is also president of the Honolulu Coin Club and district representative for the American Numismatic Association.

Many are intrigued by the coin.

“;People feel like they have a piece of paradise,”; Hunt said. Isle coin collectors say people are adding quarters to Christmas cards or making leis with the coins for wedding guests and birthday parties.

Marion Kendricks, treasurer of the Hawaii State Numismatic Association, said the coin is unique as it is the only one in the State Quarters Program that features a king.

The reverse side of the quarter features King Kamehameha I with his right hand outstretched to the Hawaiian Islands. Inscribed on the coin is the state motto, Ua mau ke ea o ka aina i ka pono, which means, “;The life of the land is perpetuated in righteousness.”;

Kendricks advised people not to purchase quarter sets advertised in newspapers and television as consumers will pay more than what the item is worth.

The value of the Hawaii quarter is not likely to increase as millions are being produced.

“;If the U.S. Mint only made a couple million, then it would go up in value,”; he said. Coin collectors are advised to purchase rolls of quarters from banks or purchase sets from the U.S. Mint.

For more information, go to www.usmint.gov.