Presidential Dollar w/no edge lettering

I have talked to two collectors and they both told me $1000 per a coin. One of them was a local collector who has some where between 600 and 700 hundred of these coins. He has not opened all of his rolls yet.

 

Log in or Sign up to hide this ad.

Both dealers must not watch the market---go to Ebay and check out these pieces on how they are going....they are going most of the time it seems under $100 each...there was an auction the other day (not ended yet) and they were going for $5 each.

Speedy

 

Also there are many out here that have not even opened all there rolls yet, and even more at banks and the U.S. Mint has bags still on sale since the first day. This will add to the total of so called errors.
I better open the rest of my rolls

 

Speedy,

Ebay is not the market for anything. You need to o to dealers and collectors to find out the real market value. This news with the no edge error has not even come out on mainstream media nor has it been out in any coin magazines yet. The lowest estimate I have gotten for this coin was $200 and they are not even selling for that much on ebay.

 

Well Davesgonekrazyl, I think almost everyone here would disagree with that right there---the market is where the item is selling----you can either go to a local place where you might have 1-2 pieces for sale of that item with maybe 20-50 people bidding or you can go to the online world where you have hundreds of any said item with thousands, if not hundred of thousands of bidders--you can find auction prices for years back...you can watch the prices go up and down....and all that is the market....Ebay is a market place....and for coins its a pretty sure thing to say that you will get MORE for an item if you sell it on Ebay than if you sell it to a well informed dealer.

Speedy

 

Boy do I agree - define modern market place today and you find a picture of eBay next to the definition. Isn't value based in part on what people will pay for it? And isn't a market a place where people can buy and sell goods? Yup, that's eBay, a real market with global customers helping to set real values. I would go so far as to say eBay is one major reason there has been a surge in collecting. This has probably driven coin values up all on it's own - as a single market place.

That said, for now you can fetch a nice chunk of change for a one dollar copper nickel coin with no strike on the edge.

Good Luck Dave - Hope I can find one in a roll :smile

 

AMEN SPEEDY!!!! I totally agree. Anywhere you set up shop whether it be Ebay or at the mall, when you sell goods, whether its coins, lawnmowers or dishtowels, you're goods are on the market and how much or how little you sell of any particular item effects the market.

 

It sounds like the Presidential $1 errors are becoming much more common than we all think.I can guess it won't be long before the prices for these end up going through the floor into the ground.

Aidan.

 

Speedy,

In that perspective I would agree with you. I guess what I meant to say is that as of right now no one really knows the facts of this particular error. Therefore the actual value of these coins are unknown and ebay right now is not a true representation of the true market value. If there are hundreds of thousands of these errors people are probably spending too much for them but if there are only a few thousand which the coin dealers and collectors expect then it will be more than what they are on ebay. Plus, like I said before this error is not out in mainstream media or in any coin magazines yet and once that happens it should jump in price even if it is only for a short term.

 

There are some main errors with these coins I do not know what to think anymore. Die crack, cuds, no edge lettering.

No edge seems to fewer in number though, but I have read an article saying that the lettering might be there and you just can't see it with the naked eye. You need a microscope to see it.

 

I think if you use a good digital camera on a tripod you will get the same effect as a microscope when you zoom into that picture on your PC. If I had one that is what I would be doing right about now. The other errors you mention are probably going to continue, the edge missing the strike may be a one time deal.

As for values as of today, it is all speculation regardless of the source (eBay or dealer). The value will change day to day regardless of the source and for that day, it is a true a value. When the majority of the coins have been looked at/distributed, and a better picture emerges, then the price should stabilize at a value that remains somewhat consistent - I think? IMO. This may be what you meant by your original comment?

Best Regards

Darryl

 

I have been to 10 different banks and came up with 485 of the no edge lettering coins , out of $4000.00 and I know someone that has close to 3000 of them out of $20,000.00

 

I pretty much think they're all gone by now...too...I went to around 7 banks today, and didn't find any....

 

I think there are about 10,000 to 20,000 of them out there.

 

That would be my guess as well. Does this mean that they will go up higher in price?

 

Hey Crazy Dave

I know a dealer who has like 1000 of them

 

That is proof that prices will end up going through the floor & into the ground.

Aidan.

 

I just read that about 24,000 1955 DDO's were put into circulation....seems like there might be less of these presidential errors than those.....

 

I just opened a Denver roll, and found 1 coin, out of 25, with no edge lettering. I'll bet this is going to be a common error.
The edge quality is not too good, lots of nicks, dings, scratches, and what looks like shearing marks from when the planchets were punched out of the sheets. The lettering quality is also not consistant. Is this normal, or did I just get a poor quality roll?

 

n sandler,

If there are only a few thousand yes but if there is are hundreds of thousands no. As of right now things look good for those who have them considering most of them came out of Jacksonville and the only other place were a few popped up was in Chicago.