2016 Ronald Reagan $1 coin questions...

Since this coin is described to be rolled up by the US Mint yet still contains a circulating finish to them I already know theyre not very valuable as it is...

I know that buying the Reagan Presidential Dollar coins by the rolls is pretty ridiculous on the markup since you can get a 100ct bag over buying 4 individual rolls and save $20 bucks but I feel the coins in the bags dont fare aswell as the rolled up from the mint ones yet also know I still have a good chance at losing atleast two coins per roll due to coin roll machine damage but feel more at ease with the rolled up stuff cause when its shipped its tightly packaged...

I recently acquired some rolls of Reagan $1 rolled dollar coins in both P and D mintages from the US Mint...

Does anybody know the current mintage count for the 2016 Reagan Dollar Coins or when info like that is usually released?

Will this roll ever grow in value by leaving them in the rolls aswell as unopened packaging it comes in or should I take my chances and open up all 4 rolls from both mintages and check the rolls for minting errors then tube up the remaining undamaged incirculated coins and put them away?

I figure since 4 out of 4 2016 Proofsets I bought all contain errors straight from the US Mint itself Im kind of expecting quite a bit of errors in the Reagan dollar coins plus aslong as I dont touch the coins with my fingers it wont diminish the value of it being truly uncirculated..

 

Log in or Sign up to hide this ad.

Save them to sell on eBay next year might triple your money. Or now could double your money.

 

What sort of errors did you find in these proof sets? Can you post photos?

The dies used for the proof coins are completely different from those used for the P&D coins, so there is no correlation between them.

Chris

 

I haven't bought any Reagan rolls but the last rolls I bought of presidential dollars which were JFK coins had such bad what looked like finish wash issues on the coins that I spent two rolls of them at face value. I didn't open them until past the return window and not sure even if I opened them within the mint would take back open rolls.

 

Thanks everyone for your input....I think Im gonna open the rolls and check them out.....I love hunting down error coins......LOL

As far as the proofset errors I stink at taking pics so bare with me and Ill try my best to get you better ones if needed


In proofset #1 Ill call it I had 5 coins with errors....The Gerald R Ford proofset dollar is one..

Gerald must of been a naughty boy in office because hes got a shiner under his left[our right] eye....

The E in his name on top above his head doesnt match the proofset pics Ive seen online and theres an extra dimple in his neck aswsell as two CUD errors under his right[our left]nostril....

The WWi and WW2 Codetalkers coin has two extra shadow trails coming off of a few spots on the coin aswell as the wording being very choppy looking...

Theres a quarter with a CUD error on the rim aswell as something going on with the Q in Quarter aswell as The D in Dollar...The o's too....The quarter above that looks all pimply and isnt like the others at all....
Theres quarters with reeded edge errors where the reeded edge is wavy and choppy instead of rigid ,straight n defined


View attachment 527776

 

Alright so I cracked open a Denver Minted set....I havent touched any with my fingers....LOL

So far Ive only peeled open the wrapper to check how oits stacked aswell as the quality of the edge lettering of atleast a third of the coin or more to see what Im up against....

So far theres so many errors on just 1/3 of the circumferrence of
the coin and about 1/2 of the roll...

Tell me what the veterans think of the Denver minted stuff so far......

 

What are the errors you're talking about?

 

Well I dont know the exact way the edge lettering is supposed to go in relevation to the presidents portrait on the front but I have it going both ways.....

Are the edge lettering on these coins bi-directional or are they supposed to be printed only one way?

Some of the errors Im talking about are incomplete stars that are mis-shaped and edge lettering thats not complete like it wasnt fully struck...Theres some things with Reagans head like a diecrack or cud and other things too on the rimedge too...........

 

random... they get dumped out of the press into a big bag and then get dumped into the second machine for the lettering.

 

are you sure that they don't get edge lettered first???

 

Burton is correct...after just completing a research only proof coins are directionalized to the portrait and the edge is struck secondly...

Thanks for the good info BS3....

So now this leads me to another direction of question concerning the coin....

Seeings its edge lettered after striking the face and rear does the damage inflicted to the face and reverse side of the coin count as a PMD on totally uncirculated rolled coinage or is it a mint error but not worth mentioning even though dings lessen value?

And seeings the edge is lettered second does any damage on the rim count as an error like on the date and mintage identification or is just instantly ruled as a PMD?

It seems to me if your gonna produce legal tender coinage there should be some super standard of uniformity no matter if its a proofset piece or not........It seems to me it just maybe easier making counterfeit presidential dollars cause theres no real way to tell if theyre genuine of not seeings marred edge lettering,,poor quality and no uniformity is what our US Mint is pumping out;-yet we pay premium money for this stuff when we purchase it from them....

Im gonna relabel and reclassify these coins as funny money now...

 

Edge lettering comes second. Striking a lettered edge planchet in a plain collar crushes the edge lettering. I have some Conder tokens that were made that way and the striking pretty well wipes out the edge lettering. Not completely but it does a good job of it.

The British round pounds get their edge lettering first, but they are struck in a reeded edge collar which allows more room for expansion of the coin without crushing the lettering.

 

good info, Conder thanks!

 

Thanks Conder for that great extra bit of info about the way your tokens that have been edge lettered appear after their minting process which is similar to the presidential stuff..

It kinda shows to me how badly our mint wants to drive the prices down on some types of varietal errors and make them virtually worthless to a collectors collection and worth only $1 for $1 face spendature value which would be ok if I had bought them $1 for $1 and just paid for shipping....

Charging customers for packaging is just as tacky as Burger King charging .25 cents for each extra dipping sauce for the chicken tenders and onion rings....

The coins should be sold after their minted in lil seal a meal coin sleeves like 1979 uncirculated coinsets making the customer responsible for the way the coin gets mounted afterwards seeings the plastic protective proofset packaging theyre charging us for I heard isnt so good anyways...

The US mint should go back to making $$ for other countries....We can obscound their precious metals again to press our coins with to save $$ and make side $$ to keep our mint from nickel and diming us to death....LOL

What would be the key area points to go off of to check on these coins in order to classify some of these types of coins as true error varieties.....?

Im pretty sure a die clash would be the top dog with these coins next to doubled edge lettering but seeings Ive found 5 minor die clash coins so far in the first $25 roll Ive opened Im getting very skeptical these coins will hold any value other than $1 each in the future and leaning more towards returning these coins back to the mint as an unhappy customer...

What would the valued members of this forum do in a situation like this?

 

You have to remember these coins were not made to be collectors items. They are made the same way and handled the same way as the coins that got shipped out to the banks. There is nothing special about them and they get no special care or handling.

Packaging costs money so do those extra sauces.

 

Do you honestly think that the US Mint bases ANY decision on the value of error coins that they produce???

 

What value does our country have after we outsourced 90% of our jobs to china?

China has the largest copper mine in the world yet we have a problem minting pennies made of 90% copper like they used to be made....

The mint said US pennies have a 25 year circulation life...IMO all pennies older than 25 years should be recycled automatically...

And yes I do......Theres valuable silver and stuff being held up in lowlevel collections that have slightly above relevant value due to minting errors mixed in and the hope theyll be rich.....

People are reluctant to put anything of value back into the system and time seems to make things of slight value go up....Demand drives prices up too.

If the mint makes crappier money now than they ever did that would make people relinquish their lowlevel collections and put them back into circulation where theres a 75% chance the govt gets to reclaim the more valuable coins..

The other day I bought a 1979 uncirculated coin set for face value because two coins have toned naturally because the seal a meal packaging they used didnt work too well..Im sure that person paid atleast $10 bucks back then for that set..

I also got a 1986 .999% Ellis Island Silver dollar proofset with Liberty clad half dollar for face value too cause the silver coin is tarnished slightly....

Did they not pass a law in alot of states where its illegal to melt scrap US coin currency to make a profit off of unless you live in a different country like Canada?...Yet it isnt illegal to turn US currency into jewelery and sell the currency for a profit...

27 years ago I had a 1934c $500.00 bill I found in a picture frame in a dumpster in front of a home where the owner had died and the family filed his belongings in a pretty interesting way....I took it to the bank to see if it was real...

The bank knew me because I was a customer....A few weeks went by and the US Treasury Dept sent me a formal letter trying to force me to relinquish my $500.00 bill based on an act passed by John F Kennedy that wasnt enacted until 1969;- 5 years after his death.....

What does that tell you?....That most certainly was the US Treasury dept trying to get me to not profit off of the bill which I did and received 6 times its value based on its condition which was folded once and had two thumbtack or pinholes in it...

 

So then they should go full bore n charge for napkins straws and the wrapper the burger comes in or you get it all in one bag...LOL


I realize these coins have circulating finishes but wouldnt you think that stuff a lil different from the normal like Presidential coins should get a lil extra attention to finish and detail seeings I paid almost $8 above face value without shipping for each roll just for a lil wrapper,,plastic tray and a cardboard box and not to mention it isnt imperative US legal tender to disperse to the public so whats the rush...?

The print on the boxes has these Reagan Dollars being boxed up and labeled every 4 seconds....Cant figure why the rush....Is the demand that hot?...They were done in April and this is August and they arent sold out so I guess not....

My Sacagawea coins were in alot better condition.......When I spent some of the ones that were badly dingled up I got funny looks from people like I was trying to pull a fast one...

So far out of 50 coins 25D and 25P I opened just about every Reagan coin has massive amounts of damage like theyve already been circulated...When they state the coins are in a circulating finish which means not to expect proof grade coins but also not massively damaged coins.....

I have brand new rolls of 2016 pennies and dimes and theyre in 100% better shape,,,,,The pennies just have tons of CUD errors on the lettering of almost 1/3 of the rolls Ive opened so far and die chips plus one doubled ear but no massive dents and dings like the Reagan coins..

Its quite repugnant when a crappy penny with the same circulating finish also made of softer material trumps a dollar in overall minted quality,,,,,

 

One could put a few "Reagan Dollars" into a safe-deposit box and become the new Izzy Switt.

 

Remember, they only made the coins because the law required it - their customer (the Fed) wasn't going to order them since there are billions sitting in vaults that nobody wants.

So the dilemma is that their only customers for these later presidents is collectors and the mint are already committed to charging a surcharge for the privilege of being able to buy the coins. How high? Supposedly enough to cover their costs.

Apparently if they were to actually put some quality into the minting it would cost them extra and they would have to up the surcharge. And then maybe nobody would buy them.

So they dump them into the ballistic bags, dump them out of the ballistic bags into the rolling machines and box the rolls. Care? Not part of the job.