Hi guys, I'm back from a few college visits. I visited my uncle, and he is starting to collect rolls of Presidential Dollars; he already has each president that has come out. He Must have about 15-20 rolls of each president hoarded away in a drawer. My question is: Once he collects all the presidents, over time, would that be a somewhat good investment for him? It definitely is not his life-savings(He's a surgeon), but do you think that's a good idea? Thanks, Greg
no, from what I gather, these arnt collectible at all. Unless its one of those fancy dancy Oath Dollars:whistle:
As an investment no. As a collectible yes. These coins are way to modern and mintages to high to become an investment that will yield a sizable return. Just my opinion. Better to invest in rare coins for investment sake. I think this series is neat and I have collected several sets of P's and D's. I get the Phillies for face value, but I have to pay double to get the Denver's. I don't see any of them as an investment, I just like have them to view from time to time. Keep on Collecting!!! Allen
after reading Walter's post, I understand I didn't answer the question. I said they aren't collectible. But IMO, they aren't a good investment, as many people would attest to. Coins are not a good investment. Unless you put in the time and effort and money to learn how to grade, detect a counterfeit, and cherrypick. unless you do that you might as well buy your coins off T.V. and hope(pray) for a nice return...
Basically, it's the old saw. By going to the bank and buying these rolls (I assume he's not getting them off the home shopping network!!!), he's losing absolutely nothing. Maybe take a hit from inflation over the years, but so what. There are about 2000 different ways to lose money every day......
Yeah. My uncle by no means is in any serious debt. I would say he is pretty well set with his income. He just goes to the bank, and says, I would like X amount of dollars in presidental dollars. They look at him like he's crazy, but one day, he will have that money for when he needs it most. Thanks for all the comments, Greg
Remember the Bi-Centennial Coinage? Watch the path of the Prezzy dollars and the state quarters. I think they will travel very similar roads.
Pretty much but if he likes them and has the income to spare whatever floats your boat. Here's a mix of things we have recently taken to the bank from the coin shop. About $600 in BiCentennial quarters About $100 in BiCentennial halfs A couple hundred of mixed Ikes, Susan Bs and Sacagaweas. What would we actually buy in these series'? Mint sets, proof sets or fully original rolls. Not much of a premium but we WOULD buy them. We sell them at the shop for $1.50 each to people that do collect them. That's what coin shops do. We also hand them out as change on occasion. Mainly to kids and collectors of the series so they can fill a hole cheap.
Hehe yesterday I bought $7.50 worth of world coins from a dealer at the flea market and paid with $8 and he gave me back a bicentennial half dollar in change. It was pretty neat, I was just expecting two quarters.
Hey Greg; Think of this: twenty years from now your uncle cracks open some of those rolls and finds out the edge lettering is missing or the old jumbled rim phenomena. Oh please.......
We all have different collecting interests. If your Uncle likes to collect rolls of Prez dollars then thats great. Whether they're going to be worth anything in 20-30 years, who cares. If he's been buying coins for any length of time then he's smart enough to know these coins arent investor type coins and he most likely wont make any money on them unless he has errors in his rolls.
A lot of this high production modern stuff is over priced, over graded by the services and over rated. To me, I don't collect it since I will be dust before it will be worth anything.
Who knows? At the current rate of inflation their intrinsic value might be worth more than their face value, but as far as making any real money on them I would have to say it ain't gonna hapen. The mintages on those things are sky high. Also I know they circulate, but I would tend to believe that way too many are perserved in a high grade for the demand to ever skew the price into the "sky high" realm. I think their greatest benefit is educational. I am starting a collection for my son who was born in 2008. Their "neat" value far outweighs their investment value IMO, and always will. Having said that it is likely their will always be somewhat of a demand for them, but their value will probably be nominal.
The equiv coins in the UK to the prez dollars would be a pound coin. I cannot imagine any of them being collectable...in the sense that they will ever be worth more than a pound...or in this case a dollar.
