I don't know how many of you remember that about 3 weeks ago I bought a presidential Dollar from a branch manager of a bank in Florida. He told me that they found a lot of them with no writing on the rim. He put them on ebay and I bought one of them for $67. He mailed it free UPS next day air. When I opened it I was a little worried about it because the rim was copper colored & the rest of the coin was gold colored. I mailed it to ANACS the same day because if it was a fake, I wanted to return it as soon as possible. Well, Today I got an e-mail from anacs that it has been shipped, and that it is real. They graded it MS65...The drink's are on me tonight.
Ed: Nice catch, perhaps they'll be worth a lot someday, or perhaps not. But, still a nice collectibel. I had read somewhere that the TPG'ers were creating new holders to display the rims. Hopefully they will show off the lack of edge writing.
They were worth a lot (first ones sold for around $600) then they plummeted in value to around $25 - $40. Then the mainstream press got ahold of the story and the values jumped back up into the $300 range, and since then they have dropped back to a little less than $100. NGC, PCGS, and ICG all have holders designed to show the edge of the nw dollar coins. (PCGS and ICG developed the holders for the new dollar, NGC has had theirs for three years.) I don't know if ANACS has a holder designed to show the edge or if they are just planning on using the translucent inserts they currently have on their current holders, a very unacceptable option.
The first step is to make sure it is real, this is the type of "error" that can be easily faked. :thumb: Then to be an MS65 is super:hail: The ones I opened up are not the best of strikes, similiar to the SACS.
http://www.coinflation.com/coins/basemetal_calculation.php?picture=2007_presidential_dollar.gif&quantity=1&zincprice=1.4652&copperprice=3.1256&manganeseprice=2200.00&nickelprice=20.7980&Submit=+Calculate+ IMHO all modern coins are worthless.
Not trying to downplay your deal or anything, it was a nice grab! IMHO though, I wouldn't pay more than $1 for a prez dollar.
I would bet that more than one collector said that about Morgan dollars in their time. Beauty is in the eye of the beholder. I would guarantee that many would pay much more than a dollar for a MS 65 error like this.
So what, a hundred years ago if a collector was considering a Morgan dollar the metal value in it was only about 30 cents. Should all collectors back then have shunned silver dollars and just spent them because the metal content was only a third of the face value?
