A newbie here, first question on this forum! I recently decided to collect the Presidential dollars, and I'd like to obtain a $25 roll from each mint for each president, mainly as something to eventually give to my grandkids. I bought one roll of James Madison’s, uncirculated, the wrapper it's in is by String & Son. These were purchased at my bank for face value. I have no idea which mint they are from, it's not on the wrapper. Since my bank is in Calif, do I assume they are from Denver? Also, after checking around at a number of other local banks, I can’t find anymore. Each bank says to order from the US Mint, but the Mint charges much more than face value, so do most sellers on eBay. Is there any special value to buying rolls from the US Mint over the uncirculated ones rolled by String & Son. And when buying a roll, if a seller (such as on eBay) claims the roll is from the P or D mint, how do you confirm that if the wrapper doesn’t indicate, and the roll is unopened? Once you have a roll, is there more value in keeping them in the wrapper, or taking them out and storing them properly? I apologize if this has already been discussed, I didn't have any luck finding the thread. Thank you for your patience as I learn my way through this new hobby!
I recently decided to collect the Presidential dollars, and I'd like to obtain a $25 roll from each mint for each president, mainly as something to eventually give to my grandkids. I bought one roll of James Madison’s, uncirculated, the wrapper it's in is by String & Son. These were purchased at my bank for face value. I have no idea which mint they are from, it's not on the wrapper. Since my bank is in Calif, do I assume they are from Denver? Yes. Also, after checking around at a number of other local banks, I can’t find anymore. Each bank says to order from the US Mint, but the Mint charges much more than face value, so do most sellers on eBay. You mind find a dealer at a coin show who will sell you a roll for a lesser premium but be prepared to pay over face value for previous president rolls. Is there any special value to buying rolls from the US Mint over the uncirculated ones rolled by String & Son. No ..same coins. You just pay more for the wrapper with the mint logo on it. And when buying a roll, if a seller (such as on eBay) claims the roll is from the P or D mint, how do you confirm that if the wrapper doesn’t indicate, and the roll is unopened? You can't ...you can only hope that he is telling the truth. Once you have a roll, is there more value in keeping them in the wrapper, or taking them out and storing them properly? For me, in the wrapper is proper storage (untouched by human hands). I apologize if this has already been discussed, I didn't have any luck finding the thread. Thank you for your patience as I learn my way through this new hobby!
WELCOME TO THE FORUM. You could do as you mention but my advice is don't. I mean don't waste your money on rolls of those coins. When millions of people hoard a certain coin it never does attain any real value. This is why rolls of many coins are just worth hardly worth anything. Those presidential coins are nice for display, education, fun but not for any future investment. Just to many people save these by the rolls, boxes, bags and possibly by the ton if they could. The Bicentennial Quarters are a great example of over collecting. Nice coins but not worth much.
But Carl, old fellow, I only collect one roll from each mint. I can't help myself....it's a condition I have. It's called collectoritis. It's highly contagious so don't get too near me.....:smile
i would have to agree with JustCarl - i think that with the rolls - you have no guarantee which mint made the coins inside unless you open them. (unless they are the mint wrapped type) If you did collect all the rolls by 2016 for a complete set - you would have 1900 dollars worth of coins. My opinion would be to collect the uncirculated mint sets or the proof set. At least you an look at the coins
But they are just so irresistible. To have these nice fresh rolls of coins never opened, just got to have them, just got to have them. Oh and did I mention I just have to have them. Presidential rolls, state quarter rolls, just got to have them. Did I mention I just had to have them? Dave
It's always comical how when anyone posts anything about collecting the presidential dollars, some folks have to try to talk them out of it. The original poster asked specific questions and not one of them was SHOULD I? We all have our predjudices but help the guy out instead of trying to talk him out of a choice he has made and obviously has some interest in. It's fine to put back a roll of coins and it's fine to collect the Presidential dollars. It's HIS hobby after all. I guess the phrase "collect what you want" is not the mantra of coin talk after all. Pity. Have fun collecting Nana ...any way you choose.
If you have a bunch of grandkids, and some disposeable income, you can purchase $250 worth from either/each mint for face value from the government. They will come in the same packaging your's did. If you get both mints, 10 rolls from each, and only need 2-3, you could easilly sell them on ebay for 5-10 over the cost. Also there is no shipping.
Listen to Plyngntrffc. I recently ordered $250 worth from the mint. I'll probably pick the best ones and spend the rest on coffee at work. This is a great program from the mint, especially if you don't use vending machines or an automated postage teller.
Thank you all for your imput, very much appreciated! Sounds like for the most part, these dollars won't be that much of a big deal for my grandkids either, as far as a valuable investment. I like the idea of taking the money and instead buying the proof sets or something similar, instead of rolls (and no, I'm not THAT attached to the thought of collecting unopened rolls - I may be a bit OCD but not THAT bad!! ). I'm off to my first coin show this afternoon, and I promise I'll be good and just look and learn this time around!! :whistle:
Take 2 aspirin, get plenty of rest, call the doctor in the morning... Seriously...if that's what you want (rolls from each Mint)...that system does beat flying around the country for that.
If you really want an investment for the grandkids, you should look into putting back a few rare key coins. Like the highest grade 3 legged buffalo or the highest grade 1917 standing liberty type 1 quarter with full head that you can afford. In 30 years, depending on how old the grandkids are, they will really have something nice. Ofcourse you might have to buy each grandkid their own set ..lol. Proof sets and mint set aren't really investments either. Every now and then you get a surprise like the 1999 silver proof set or even the 2008 mint set but you never know how valuable they are until the price jumps. It's all speculation. You will hear it said here many times that COINS ARE NOT AN INVESTMENT. It's a hobby. Trying to pick coins that will jump in value is like picking stocks..there are more losers than winners. I'm putting back a couple rolls of presidents myself for fun. It's only a couple hundred bucks a year. I just stopped going to Starbucks and I found the extra $200 a year easy.
Thanks Andrew! I bet I spend $200 every three months there (seriously, it's a very bad habit). You've inspired me to save that money and use it to buy the president dollars instead, much more fun and definitely more enjoyment for my money!! :high5:
