I need advice on the best way to collect new series

blueshound · 08-17-2007, 08:19 AM

Is anyone collecting the new presidential $ coins? I have decided to collect the new Prez coins. I have begun by purchasing (for each new coin as released) a roll from each mint from the US mint, buying 4 rolls from my local bank (no control over the issuing mint), and 3 of the proof sets each year.
This is part collecting, part investing. I am a new collector, and I would love to hear from anyone that has successfully collected a new series in the past. I also purchase proof sets and mint sets for each year (I began in 2006), and I am purchasing one roll of Sac $ from each mint until they discontinue that coin. I may purchase back rolls of the Sacs, but at least one year seems cast prohibitive.
Any advice would be greatly appreciated.
Thank you.

bqcoins · 08-17-2007, 09:56 AM

I don't think investing in this series is wise. Too many modern coins, too little demand.

andrew289 · 08-17-2007, 02:09 PM

Welcome to the hobby. The first thing I would do when talking about the president dollars is to remove the word "investing" from your vocabulary. You invest in gold, silver in platinum you don't invest in mass produced mixed metal cylinders...lol.

It's fine to put back a roll from each mint. I'm doing the same. While you don't have control over the mint mark that you get from the bank, you can predict where they are from unless you live along the Mississippi River.

If you are in the civilized east, they will be P minted. If you live in the wild west, they will be D minted. If you are in the indifferent middle like Illionis...you might get some of both. I've seen both there and in Missouri.

If you have already received your proof president, I would open them up to make sure they look ok. There were issues with the early deliveries but the last batch I got were pristine.

It's fine to take the $430.00 that you will spend each year and put yourself back some coins if you can afford it. I don't think you will get any appreciation in your life time though but they will be nice to have and pass down to the kids and grandkids so that they can learn about the presidents.

I might make one suggestion. I would get one more roll from your bank..and crack it open. Go out and get a couple inexpensive whitman albums. The one I'm using has only one hole per president. Most have a space for P&D but i don't want to go through the trouble or expense of hunting down D mints and I don't want to pay more than face for them. Open up your roll, get a couple albums and start filling them. You might find that you enjoy them more. Also, when each new issue comes out ..make a conscious descision to sit down for 2-3 hours at the computer and do a google search on the President that just came out. You will learn new things that you didn't know before and after all thats why this series is being struck.

Enjoy the coins but remember they are not investments...just coins for the vending machine. It's ok to spend them also.

andrew289 · 08-17-2007, 02:16 PM

PS ... As a comparison, for that same $430 dollars you could buy around 20 of the 2007 W American Silver Eagles from the mint. Put that back and this time next year you should have atleast doubled your money. Do that every year for the next 8-10 years and you will see much more bang for your buck than the 6 rolls and 3 proofs of Pres dollars could deliver in their wildest dreams. If you can afford it ...do both and you be the judge.

Spider · 08-17-2007, 02:56 PM

Quote:

As a comparison, for that same $430 dollars you could buy around 20 of the 2007 W American Silver Eagles from the mint.

ehh??? the mintage is quite the big puppy

andrew289 · 08-17-2007, 03:11 PM

Is there a question there? ...lol.

The portion of my post that you quoted is correct.
The 2007W is issued at $22.00 each so for $430.00 you could purchase about 20.
(430/22 = 19.54 ...almost 20)

Was there something else that you wanted to say?
You have a big puppy?
The point that you were trying to make is unclear.

Spider · 08-17-2007, 03:38 PM

why would they double in value? I don't see them doing that, what you hiding boy?

andrew289 · 08-17-2007, 05:29 PM

Boy? I'm sorry but I can't, in good conscience, respond to anyone that calls another man "boy" in this day and age. Personally, I find it offensive and disrespectful. I hope the forum membership can understand.

Treashunt · 08-17-2007, 05:50 PM

Okay, when I started collecting a new series, lets see, well, back then we called them the Native American cents, not Indian Head cents.

And, the rest is history.

Cloudsweeper99 · 08-17-2007, 08:15 PM

Investing in a new coin series is like investing in new baseball cards. People think that since the old ones went up in value, if they just put away a few boxes of of them in virtually perfect condition, good things will happen someday. I don't think it's going to happen. There are too many people doing the same thing. Older coins are valuable because they are relatively scarce in high grades. They are scarce because few people kept the coins in uncirculated condition. The only way to profit from that sort of collecting is to collect something that someone is going to wish they had saved 50 years from now, and to be one of the only people doing it.

clembo · 08-17-2007, 09:03 PM

Quote:

Originally Posted by Cloudsweeper99

Investing in a new coin series is like investing in new baseball cards. People think that since the old ones went up in value, if they just put away a few boxes of of them in virtually perfect condition, good things will happen someday. I don't think it's going to happen. There are too many people doing the same thing. Older coins are valuable because they are relatively scarce in high grades. They are scarce because few people kept the coins in uncirculated condition. The only way to profit from that sort of collecting is to collect something that someone is going to wish they had saved 50 years from now, and to be one of the only people doing it.

Good point but the older stuff doesn't even have to be uncirculated. G4 and lower coins can even go up big time once people realize how hard they are to find period.

blueshound · 08-20-2007, 08:33 AM

Isn't it at least possible that, due to the low interest in these coins by collectors that very few of these coins will be set aside, resulting in relatively scarce numbers in high grades?

Please help me to learn where to purchase the older coins at fair prices...certainly not ebay or Heritage. The local coin shop has a huge markup. The mint seems to be the best spot for me here in Pensacola, FL.

Just Carl · 08-20-2007, 07:34 PM

Quote:

Originally Posted by Cloudsweeper99

Investing in a new coin series is like investing in new baseball cards. People think that since the old ones went up in value, if they just put away a few boxes of of them in virtually perfect condition, good things will happen someday. I don't think it's going to happen. There are too many people doing the same thing. Older coins are valuable because they are relatively scarce in high grades. They are scarce because few people kept the coins in uncirculated condition. The only way to profit from that sort of collecting is to collect something that someone is going to wish they had saved 50 years from now, and to be one of the only people doing it.

completely explained here. By the way welcome to coin collecting.
Example of what your about to try is some time back I fell for the hurry up and save all those Bicentennial Quarters. A friend of mine did the same thing. I had many hundreds and he had thousands. After 30 years I checked at many coin shows. Best offer was .24 each as a joke since no one wanted them. My friend and myself both ended up taking them all to a bank. Lost a few cents in interest too.

clembo · 08-17-2007, 09:00 PM

Quote:

Originally Posted by blueshound

Is anyone collecting the new presidential $ coins? I have decided to collect the new Prez coins. I have begun by purchasing (for each new coin as released) a roll from each mint from the US mint, buying 4 rolls from my local bank (no control over the issuing mint), and 3 of the proof sets each year.
This is part collecting, part investing. I am a new collector, and I would love to hear from anyone that has successfully collected a new series in the past. I also purchase proof sets and mint sets for each year (I began in 2006), and I am purchasing one roll of Sac $ from each mint until they discontinue that coin. I may purchase back rolls of the Sacs, but at least one year seems cast prohibitive.
Any advice would be greatly appreciated.
Thank you.

I think bq hit it right on here.

Quote:

Originally Posted by bqcoins

I don't think investing in this series is wise. Too many modern coins, too little demand.

I'm sure there are a MANY that have successfully collected new series. I don't think many have retired because of the investment though.

Many here know that I have no love for any "new" dollar coins. Yet, I still have several rolls of Sacagaweas in my possesion. The vast majority of these were collected for my "piggy bank". I put change away every year and then cash it in to go on vacation. Did I make money on it? - no. To me it's money that I don't "miss" and has financed a week away from home for years. Presidential dollars will get the same treatment.

People collected rolls of state quarters. In the beginning they were HOT! Now the price has hit rock bottom. BILLIONS of them have been minted. On the other hand PRE-State quarters have risen dramatically.

If you try and apply this to the new dollars I don't see that happening either. Ikes (unless high grade) have not moved that much nor have the Susan Bs or the Sacs. The long term interest is not there unless you live to be a few hundred years old.

Collect the set by all means if you wish but DO NOT sink a ton of money into them above face value.

Look at other coins and learn and enjoy the whole spectrum of the hobby.

As for my Sacs? I'm going to the coin shop tomorrow most likely. Will see if he needs any. If I get a nickel over face I'd be happy - if not I'd still be happy. I plan to use them to buy semi key Lincoln Cents. THOSE will go up.

Just one more thing. Why the name blueshound? I was just listening to some Koko Taylor.

clembo

blueshound · 08-20-2007, 08:22 AM

Thanks for all the good advice. BTW Clembo, I chose Blueshound because I love the blues.

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