Stop Collecting Presidential Dollar Coins

I' ve been getting 4-10 rolls of each at the bank. I put away two rolls, spend a few , the rest go into a milk jug. Dang jug must weigh 30lbs. Must be 1500 in there. I've been meaning to cash the jug in and buy a nice coin. But from here on out, i'm gonna get only a couple rolls of each . My vote is to keep up with it. For face value there isn't any real risk. If you ever need the money, just cash em in.

 

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So far the votes are decidedly in favor of not continuing to collect the rolls any longer. Although the other side makes a very convincing case that it may be worth the effort.

Despite the good advice, I still haven't made up my mind :-(

 

Some loser.

 

Well if you enjoy the collection then keep collecting. I buy because I enjoy it and one day they will be worth more than face, may take a 100 years but they will. If you think you may sell in your lifetime be prepared to maybe break even.

 

Collect them to collect them. Otherwise, redefine your pursuit from collector to investor and prepare to be disappointed a lot. A collector could care less if any of their coins appreciate in value next year, or 100 years from now, because the enjoyment is the reward, not gains. If you're trying to make a fast buck on coins, especially those minted after about 1900, then you need to take a few economics classes...at least then your investment will pay off some day.
Guy

 

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I'm a huge history buff so I've been saving the presidential dollars. For some reason, I started buying the cover series sets since the beginning. I have three sets of each of the first seventeen sets. I still haven't broken any of them out of the white envelopes. I just can't bring myself to opening the white envelopes. I don't know why.

 

They absolutely don't have to be worth more than face. With the mintages in the billions, the ONLY examples are going to be the graded examples, and I mean absolutely highest graded examples. Hammer prices on TT for top pops were, maybe 2 years ago, in the couple hundred dollar range. Check out the realized prices now......$3, $6, $9...it's awful. Unless you have a guaranteed pop 1/0 coin, it's not even worth the shipping fees, let alone the grading fees. I had a set, early on, all FDI. I remember paying well over $200 for a 2 coin set of P pos A&B (can't remember the Prez), that had 3 better. That same set of 2 now would be worth under $30. I bailed out when the hill got icy, and only lost half my butt on them, but there are alot that are buried deep in them, and there will be NO recouping losses on these. Best thing to do is buy a Dansco, fill it, and consider it a piggy bank in the shape of a book (same with you roll/bag buyers....just consider it a 'savings' tool). SHQ and Prez $$'s...unless you have MS69's from PCGS (NGC's don't even get to enjoy a great premium), all you have is 'savings'. Like it or not, that's all they ever will be.

I'm a firm believer of 'collect what you like', but collecting Prez $$'s is NOT what you'd collect as an 'investment' (coins in general shouldn't be, but alot do appreciate....the Prez $$'s WILL NOT).

 

I collect them...as a collector....not looking at big $$ returns....I use investments for that. Now if everyone keeps ignoring them and I keep collecting them on the cheap, then the paper dollar goes away (as it has in many many countries), demand for these skyrocket, and my collection is worth more than I paid...win for me. Paper dollar stays, demand is in the tank, and my collection is worth $1 per coin, but I have the history of all presidents in order to share with my kids now, and hopefully grandkids someday. I agree, I would like it to be an open ended collection that adds as presidents become eligible.

 

Why not ? If you are getting rolls from the bank at face value, your not losing anything. $25.00 dollars for $25.00 dollars.

 

You're sounding like a collector Ned.....

 

Like I said, collect what you like. My point is, even if you are getting them for face, I'm assuming you are 'storing' them, or are you having them graded? Again, there is NOTHING wrong with collecting what you like. To be honest, after selling the graded set, I DID get a Dansco, and DO have a set of them, but I have NO doubt that my GREAT grand-kids (I'm only 25) will only realize face...actually, a loss, unless they sell and keep the Dansco. My graded set did literally lose 50% of what I paid, in less than 12 months.

If these are ignored? The amount of bags sitting in banks, not in circulation is massive. It'll be alot like when they stopped minting SBA's in '81...but there were still enough in 'the system' to last till '99. The mintages of the Prez $$ will be WAY more, hence way more sitting in bank vaults for YEARS and YEARS...not to mention, there are modern dealers that have boxes of them sitting in TPG warehouses, all eligible for the FDI designation...going back to the very first issue....Geo Washington.

Just too many minted for them to be 'worth' anything numismatically (well, numismatic premium). Lastly, we ALL know how many are being used in daily commerce....not many. I don't think I've ever gotten ANY 'golden' dollar in actual change, going back to the Sac, pre-prez $$ (public transpo riders, yes, they'll see their fair share, as thats all the machines give out for change, much like the P.O.). There's still no slot for them in a cash register. They'll languish in banks longer than the Morgans did before the were found and sold in the GSA holders...because there will be so many more Prez $$, they won't be able to forget about them, they'll be tripping over them daily.

 

I agree...you can't go wrong for face. Less likely to spend that $25 if it isn't in your pocket, so, as I've said, plan on using them as a means of simply saving $$ (later on, cash 'em in and get one, nice coin!).

 

I've collected them in mint sets and clad & silver proof sets. Even though those coins are the same in the 2 proof sets. That satisfies my collecting urge without the large cost of rolls and bags. Plus, I get all the rest of that year's coins. These complete sets are sold on TV, hyped in the magazines , and basically aren't worth much over face value. I have seen them sold, individually, for $1.95 each by coin companies advertising in Coin World magazine. That may be OK for those who want to get a yearly update at only double the cost.

Again, collect what you like, but don't look for an investment value, especially in modern coins from the U.S. Mint.

 

But I can act a whole lot younger, so it evens out....lol

As for my avatar, I think Don Rickles is still one of, if not the, funniest men to walk the earth. In the image, he has that 'SEG', and looks like he's about to blurt out 'you hockey puck', or some other denegrating, but hilarious comment. He's gettin' up there, but he's as funny as any comic I've seen in my lifetime. I just wish I could have been lucky enough to see him live....but on the 'Dean Martin Celebrity Roast' videos.....man, THEY knew how to have FUN!!! I'll have to live with those performances...lol

 

I agree, the investment value on these will be and is, going nowhere fast. Yet I plod along throwing a roll of coins from my bank into a box every time a new release comes out. I did this for the State Quarter Program and saved a roll from each state from circulation. I never spent over face for them this way. I'm picking up two coins each from the two mints for the ATB Program. It is just a way of saving money I guess. I don't even count any of them in my actual collection. Nor do I bother to inventory them. But like a moth to a flame, I just can't seem to stop what I am doing. But I do like the idea of taking all this face value stuff and buying one good solid gold coin or a good 18th century silver coin. Then it makes this illogical scenario more logical. :>)

 

Don's one of the great ones.

But I don't think he invests in Presidential Dollars. I could be wrong though. He does have a marvelous sense of humor......

 

Doesn't collect Prez $$!!!! Now THAT'S funnier than putting together a registry set of....whoops, I DID do that.....LOL

EXCELLENTLY funny comment, Ken!!!!!

edited to add green's name, make it personal...I like personal....lol...but I drew a blank as my Bruins just scored.....1-ZAP B's late in the 3rd!!!!!! (sorry, Ken!)

 

Just a Hockey Puck (hokey puck?) at heart.

And I think we've totally derailed the OP's thread.....LOL

Appologies.