Invest or Not Presidential dollars?

My bank should get them here in the next few weeks.

Speedy

 

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I plan to pick up several rolls at the unveiling at Grand Central Station tomorrow. I understand that the Director of the Mint will be there as well.

As for investment, the best place to be for the long term, in my opinion, is in low cost index funds, with a mix of fixed income and international and US equity. Having said that, I also bought 10+ sets of the 2006W AGE 4-coin set and I plan to buy 3-6 sets of the 2007 APE. I like selected coins for their beauty. Investment is not my primary reason for these purchases.

 

I got a roll today.....pukey

Speedy

 

You people who want to make quick profit are missing the point of coin collecting some. I'll never look down on a person for making profit on a collectible. Face it, we all loved that $5 coin we bought and turned around and got $10 for it later. That's nature and that's life. BUT - we have to remember that as we get NEW coins in the system, somebody has to take care of them so they CAN become more valuable. My best coin is a MS-64 Flying Eagle (Thus my avatar) - I paid $1,100 for it, which was fair. I didn't buy it to make money though, I bought it to own and treasure and keep safe for the next collector! If that is 20 years from now and I get $5,000 for it - so be it, but the key is someone in 1858 had to say, hmmmm, I'm gonna put this away for safe keeping and then subsequently for 150 years up to myself, there has been a LONG string of care and probably enjoyment as I love looking at my FE penny with its such nice detail. The presidents will do the same. Yes, it may take 200 years to realize a profit on it, but it may not. I made a killing on my 1999 and 2001 proof sets. People that wasn't that long ago!!! hehehe And hey, it's fun to have a full collection of anything - the presidents will be no different. I have all the Sackies - I'm not FOND of that series, but oh well - I have them! 100 years from now someone is going to be glad I saved them and they may love them! And I won't make all that much profit, but I will have helped the hobby.

Take Care - Esky

 

I agree... :thumb:

 

Hello
Yes and no..
Yes we are selling, or were selling, the 25.00 bags, but not for 400.00..
The highest price we got for a 25.00 dollar bag was 1300.00 and the lowest
was 1000.00.
The current ebay price on these bags is about 400.00 which we haven't sold any bags at this price.
We do still have 2 bags still sealed in their un-opened US Mint shipping boxes.

 

these are worthless coins.

No. The coins were meant to be numismatically worthless in order for them to circulate. While many of us will have a few Washingtons lying around, the simple fact is, is that if the program is a success, nobody will want any but MS067. By 2010, your Washington dollars will be worth a whole buck, if that much.

 

All I can say is don't Buy'em then..

Buy'em if you like'em, don't if you don't like'em...

 

We're talking about investments here. Making a quick buck on ebay might work for a day or two, but as a long term investment, no way in hell.

 

I am going too buy a few rolls to start. Some times you get lucky and find some high grade coins right off the bat. Mostly you don’t get coins from Mint rolls that ever exceed MS 63/64 If you want to get them high grades in the neighborhood of MS66/67 or higher you gotta open a lot of rolls too find them treasures. Then most folks sell the rest on eBay. Or take them to the bank and they are re-rolled and resold. It is not uncommon to get a roll of coins that look like they have been used a fodder in a rock polisher.

 

these rolls are already $35 to $40 on ebay (with postage) but they will probably settle down, (who knows?)

 

One could say the very same thing for the state hood quarters, yet the first 4 coins issued in the series are turning huge profits.


My bet is, first - third issue, Mint rolled not fed rolled, US dollars will return at least 100% profit.

 

I took part in this. I know that most members of this forum are vehemently against the idea of First Strike or First Day of Issue labels, but the simple fact of the matter is that holders with these special designations do tend to sell for more money. I think that the PCGS First Day of Issue pieces are going to see nice price increases on Ebay for several reasons:

First, PCGS gave almost no notice that they were going to be offering this new label and in order to qualify packages sent to them had to be postmarked 2/15/07 which didn't give collectors much time to get their hands on the coins. Second, the only way to get the label is through their bulk submission program (100 coin minimum) which can get a bit expensive for many collectors. Third, as others have noted, the quality of these coins is mediocre at best, and some who were planning on sending coins in for First Day of Issue decided not to. Lastly it is fairly cheap to get these holdered. If the coin doesn't grade MS66 or better it will be put into a generic "First Day of Issue Brilliant Uncirculated" slab. This may sound a lot like the junk sold off on Shop at Home, but as it only costs $6.00 each to get these lower quality coins slabbed, there is very little downside risk, and even if they are offered at a mere $15 each, there is money to be made.

All that being said, I don't feel that the George Washington dollars will be a sound longterm investment at all. I sent in 200 for First Day of Issue holdering, and plan on flipping them out as soon I receive them back. At that point, I can take the money and purchase some real coins for my collection.

Please feel free to go ahead and flame me now.But not on CoinTalk please. However, before doing so, remember the mantra so frequently espoused on this forum "collect what you like". There are people out there that like to collect First Strike and First Day of Issue coins. If I am able to provide them with these coins and use any profits to enhance my own collection, I don't think that is such a bad thing.


Tom

 

$ coins

They arrived today at my bank they allowed me 8 rolls ,all they had ...in the drawer for today.

 

8 rolls of $ from my local bank

Help.. 8 rolls are in white paper wrappers with red and white ends, by N.F.String & Sons, Inc, Harrisburgh,Pa.are these third party distributors?How do I catigorize these? Shall I open some and
squirrel the rest?The one at the ends of the rolls have what looks like bag marks...
I am just starting and need some guidance. The nearest active coin dealer is 50 miles away..there are no near term shows.I am reading the books ..it is confusing so far..I am sure it will come together with time and experience and help from this site..I am looking for nearby coin clubs..I have the bug!!
...I wish I could thaw out you northern chillers .. it hit 80 today ....
but I am also just starting to put my check my hurricane equiptment and food rations , batteries etc ...hello to Jacksonville..Fla_joe

 

Just a quick question on Pres $ errors. I have a set of 5 and the edge lettering side up is the
reverse (Liberty) on four. However one of them has the the edge lettering upside on the obverse (GW).
Has anyone observed this and how frequent is it?

 

Somewhere I saw someone say it is a random thing. The edge lettering is a separate operation and it just depends on if the coin goes through heads or tails up so it would likely work out to be 50/50.

 

I got a roll today, N.F. String & Son Inc also. No mint on the wrapper, but they are Denver, I was hoping the wrapper had the mint, darn. Thanks, Douglas

 

I just googled NF String, it looks like they make the machines and wrappers, they don't actually do the wrapping. I don't know if my bank owns the machine and rolls the coins themselves, or what. I have a hunch String is real big in this business, so prolly most wrappers we see will have their name on them. Thanks, Douglas

 

I think the big mint error for these Presidential coins will be if one makes it out of the mint without receiving any scratches.