Presidential Oath Dollars?? Your advice

Hey, you sound like you know what's up with these. I have got the guy I am dealing with down to 50 bucks a piece for these. The Adams, Jefferson and Madison....he said he has been unable to find a Washington either. So do you think 50 dollars is a fair price?

 

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Terrible deal! The presidential dollars are the coin with the least amount of intrinsic value (compared to face) out there. So not only are they SUPER COMMON, they are nearly worthless except for the fact the goverment says they are worth $1.

Just because they were sold at the mint to tourists doesn't mean they were produced at the mint in their entirety. They are not orginal mint products.

If you are going to spend $150 you would be much better off buying a common date MS65 Morgan, a certified AGE (at least it is worth something), or a MS Indian/ Wheat Cent. Buy something you can sell. No one in their right mind wants a Presidential Oath Dollar.

The fact that most people on this forum didn't even know what it was should be your first clue that it was a gimmic.

 

Thanks rhoggman I am going to have to differ to the experts,you guys, and pass this up. Thanks for everyone's good advice on here. This is a great resource for newbie's like me who are looking for advice and knowledge.

 

Good choice. Put your $150 to work somewhere else. Bofore you do that, make sure you know what you are buying, and what it is worth. Also if you are interested in making money you need to do a lot of research first.

 

This is something my son and I decided to start doing together. We are really not in it to make any money but we do want to make informed choices and not get ripped off. We have bought some books that we are both now reading to try and educate ourselves. Also, sites like this seem to be an excellent source of info. As we educate ourselves there are always questions you just can't seem to find the answers to and on here is a great place to come! Oh well thanks again for everyone's help!

 

coin101,

You and your son might enjoy putting together a collection of uncirculated Silver Eagles. They are beautiful large silver coins that sell close to bullion value, so it's difficult to make a mistake even if you are new. They are also pretty easy to resell if you decide to get rid of them in the future. I think it's one of the best sets to learn on.

 

Talked to ANACS today. The collars are definately made by third party and will not be in the population report. If anyone buys these it will be a gamble. Oh by the way the best advice i ever had was do not trust Home shopping shows. My $300 mistake.

 

Simple, someone paid them a bundle to do it

 

Where would you suggest we start looking for the coins...as in the US Mint, any reputable on-line dealers...should we go to our local coin shops??? Just wonder where the best place to start looking for Silver Eagles would be????

FYI...the coin I was going to buy the coins from just called and offered to let me have them for 25 a piece. I told him I would give him 5 bucks each....he didn't seem to like that..lol. Oh well.

 

And I was just starting to really like ANACS , sold again , buy the coin not the holder .
rzage

 

For current ASE the US mint , the rest either online , or at your local coinshop .
rzage

 

Thanks everyone for your advice. The presidential oath dollars are nice to look at but no thank you. I would advise everyone to read the up coming article about them in Coin World Magazine, maybe that will give us some new insight! Thanks again.

 

Folks - While these may be a novelty, I can give you many instances of coins that were sold similarly as novelties, that today sell for thousands of dollars. I'm not saying that will be the case with these oath dollars, but it is a possibility none the less. And the fact that they are graded by ANACS does give them some legitimacy. Time will tell but if you're a gambler like me, an "bet on the come", you might want to snatch a couple up. As of right now, there are no Washington Oath Dollars available and we can't seem to even confirm that they were made. But for arguments sake, let's say they are out there somewhere. Novelty or not, can you imagine what will happen to the price of the other three, if Washington's materialize?? Those that could snatch up some Washington's would have a completed set and I'm certain the value for that (again - novelty or not), would skyrocket because of the rarity. I'm up for spending a few bucks just in case. And if nothing else, my Grand-Son will have some rare and unique coins in about 20-30 years that will make his Presidential Dollar Collection a little different than everyone elses. Finally, speaking of novelty......look at the value of the Statehood Quarter Collection that has all the mints, proofs, uncirculated, gold, colorized, and hologram quarters. Those collections are worth much, much more than a regular collection and much, much more than their original investment in the novelty quarters. Food for thought anyway.................

 

Very good argument jinglepockets. It seems that the coin community will only accept a coin if it is listed in Red Book. I on the other hand value a coin based on the demand from the market. They just won't accept that.

I agree also with you about including coins like these in a collection. If collection A had all the Prez coins in them and collection B had all and the oath dollars I would definately want to buy collection B! Now there are coins that just look and feel ridiculous but the Oath Dollars are very well made, graded by a top tier grading company and were sold at the Mint.

I will say it again, if anyone wants to get rid of these novelty coins, especially a Washington, I will gladly take them off your hands??? Any takers???????

 

Just wait awhile.

:desk: If you gotem', hang on to them and sit back and wait. When the dust settles, those washingtons will emerge.
The article mentioned that the first six prez' were struck with collars @ 1000 each. However, many were lost in transit, sold to shoppe patrons etc.
All my info sez is only 400 Jeffs, 600 Addams and 800 Madisons were graded by ANACS and when questioned by CoinWorld, Taylor was very tightlipped about certain details such as who submitted the coins for grading and exactly how many were graded.
Not that it matters but the Mads were graded at MS66, ADAMS MS66 & Jefs @ MS66 &65, but that really does't matter.
Its the fact that THIS batch was authenticated as having been sold at the Denver Mint and slabbed accordingly.
Now as we wait we will watch. If another batch of these 'special' coins comes back strong, hitting the missing p's and slabbed by ANACS, we will know:
Someone was testing the waters AND
That entity has control over inventory!
IF that comes to pass and further P's are presented for sale it is most likely a marketing scam, thats when we can moan and complain and start a bunch of drama.
But for now, just sit back and wait...

 

Great info Crismo!!!! I agree that all we can really do at this point is wait and see what happens with these. If the market gets flooded with additional coins you are right we will ***** and moan...lol.

As for now, everything I have read and the people I have spoke to at the Mint and at Coin World all are pretty much I can't give any advice wink wink on buying these wink wink but they are limited wink wink.

Can't wait to see how this turns out!!! The market will be the ultimate decider on these babies.

 

Crismo and Coin101....I like your way of thinking and appreciate the further insights. I will certainly pass on any further info I come across as I know you will do the same. By the way.....if you come across any Washington Oath Dollars...lol............

 

They were NOT minted by the denver mint, and the fact that these MEDALS " features an aluminum collar with an inscription of the Presidential oath around the perimeter for a unique bi-metal effect." Prove that they're FAKE.

The US has NEVER issued aluminum coins.

 

Supply and demand.

Supply may be limited but since so few here seem to know what they are (myself included) what does that tell one about demand?

To me this looks like one of those coins that gets brought into the shop in a collection and he boss pays $5 for the sheer novelty.
It's not in any books, it's not in greysheet and we've never carried them.

Mention HSN and it might drop in value.