2010 Boy Scouts - did I buy enough?

Here's a flippin' # I haven't seen yet................................................
Most every Scout has 2 sets of grandparents..........

"Dangit Grandma just buy the kid the #$%& coin so he'll quit cryin' about it, pay the $60 and be done with it !!".......:kewl:

 

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Sounds like that hypothetical wee Scout is a junior extortionist hoping that his grandparent(s) will pay for the coin and he can flip it for +100% profit on eBay himself. :whistle:

 

Originally Posted by boxerchip
Just due to sheer numbers of Boy Scouts they will be worth more than issue price.<snip>

Scouts are a large special interest group.
My guess is that each time a scout gets a BSA commemorative coin (either as an Eagle Scout gift or as part of earning the coin collecting merit badge, he will keep it for quite a while. With over 10,000 (an estimate on my part) scouts earning the coin collecting merit badge each year, I think that within a few years, the availability of this coin will be scarcer than the typical commemorative with a 350,000 mintage.

 

The current requirements for getting the coin collecting merit badge would cause most Boy Scouts to skip this coin as it would not count towards the considerable requirements to score the badge. You guys might want to check up on these things before making predictions.

 

Many modern silver commems are in existence due to the efforts (lobbying?) of large special interest groups pushing for the coin legislation to be signed and allow them to minted and sold by the Mint... Most commemorative silver coins, especially with such huge mintages, are proven not to hold their value in the long run.

 

I do agree regarding the current requirements, but I would suspect that earning the coin collecting merit badge would predispose a scout to obtain (even as a gift from a relative) the BSA commemorative.

 

Then he will spend it at Mcdonalds.

 

If the local MacDonald's wouldn't take an Ike dollar from my younger son when he was in Jr. High ("We only take American Money"):headbang:, just think what that (insert your favorite acerbic adjective here) employee would do when handed a commemorative coin.

 

If the fast food establishment was taking it from a Scout, the Scout would probably be giving it on his honor and probably passing it along with his fingerprints all over the coin as well... he'd even be betraying his Cooking merit badge by dining at such a restaurant. :whistle:

 

One of my brothers was in town this weekend for my daughters wedding, we had some time on Friday to gad about and I took him to the local coin shop. The dealer had some BSA uncs and proofs, I asked to see them, showed them to my brother and asked which he liked better.

His first comment was what was that girl doing on the coin, I told him that the scouts have a program for girls now, but look at the reverse I says, wanting to get my brother a coin for a souvenier from his visit, he looks and puts it back in the case, You like? I ask, No he answers, he ended up getting a two cent piece, he had never seen one of those before and liked the idea that it was the first coin with the "IN God We Trust" motto.

My brother is nothing if he is not typical, so I tend to think this coin shot itself in the foot with its pc design.

 

The problem was that he didn't have his uniform on, and quite bluntly, most (but not all) younger MacDonald's employees wouldn't know that there was even such a thing as a Scout Oath.
and yes, he does have the cooking merit badge :eat: and he much prefers In-N-Out.

 

LOL
With 350k produced having a kid actually be successful at passing one of these coins of into general circulation even once would be the best thing that could happen to the value of them. Way to many. People who purchased because they liked the coin for their own collection will be happy. I'm afraid people who bought large numbers hoping for appreciation are going to be disappointed.

 

I think you'll be surprised.

As a 6 year scout leader, I can state that very few scouts that take the merit badge today will continue to collect coins or have any interest in this commemorative. For most, it'll be out of their pocket change price range and parents may be very hesitant before sinking $34 or $40 into a single coin which some scouts could misplace or even lose. remember also that the coin collecting merit badge is not required and therefore usually only taken because kids think it will be an easy badge. Not because they have a particular interest in coin collecting.

IF there were going to be ANY significant interest, it would have shown up by now and so far, I have not obvserved anythng that would lead me to believe that this is going to happen.

The 2009 DDR Lincolns had more interest after two weeks.

My position will be to advise caution before investing any significant amounts or in any significant quantities of these. It could very well be several generations before any returns can be made.

 

Interesting points.
I absolutely agree with your cautionary advice. I collect coins, not as an investment, but because of the beauty and history of coinage. When I sell coins, If I break even, I'm happy.

Now to the main question: Are you (and I mean all Coin Talk members) a BSA Coin Collecting Merit Badge Counselor?
If you aren't (and I mean all Coin Talk members), why not consider becoming one and getting more youth interested in our hobby.

 

That's a good idea. Even though my son isn't interested in Scouts, I should give back. To only do it if my son was in is a little selfish! I'm wondering what modern counselors think about getting a reputation in the hood as a collector. I remember going to the home of my Stamp Collecting MBC and he just whipped out his best stuff to show me. (1972!) Have times changed? Do people meet in there homes still? How do I keep my mouth shut about my favorites, the First Spouses?! (I guess I could show off just the bronzes!)

 

Being an Eagle Scout myself, and a scout leader for years, I'd like to point out something. Just beause there is a coin collecting merit badge is not going to effect the price of the coin. There's a swiming merit bage but that's not getting people to build more pools. There's a camping merit bage but that's not moving thousnds of coleman tents. So don't count on the fact that just because their's a hobby related badge is going to rise the coin value.

That said... I do think the coin will hold value given the Scouting movement and people willing to acquire them in the aftermarket. However, while it could appericate in value, I not putting my own money on it. I bought a proof and a unc for my personal collection. No intentions of buying more to deal in them or try and make a buck. If somebody can make a buck buying them and selling them later, best wishes too you.

I've made some money in coins, only when I bought something for the right price and know I could turn around and sell it for more. That's easy money. Buying coins from the Mint the same as everybody else can and just hoping they rise, well good luck to you. But it's not for me.

 

I think the BSA commemorative points to a genuine, long-term weak spot with the commemorative program. I agree this design is really nothing special.

Design of these things has to be EXCELLENT.

The modern commemoratives lack verve, power, romance. Perhaps being designed on a computer has something to do with it, or the low-relief. What's needed is more classic medallic art.

THAT pulls people in, to admire the coin.

Second to this, perhaps letting whoever from Wall Street is running Treasury make the pick is probably the wrong decisionmaking procedure. Let the artists plus the organization mutually decide.