Invest or Not Presidential dollars?

Any update on this?

The latest issue of Coin Values had a big series on American Eagle Platinum coins, but not a word about a 10th anniversary set.

 

Log in or Sign up to hide this ad.

I am going to get four of each president. two from the unc set, one from the proof set, and one from circulation. That's all you need. These are common and designed for circulation, thus are meant to be numismatically worthless. Once they get to Van Buren, nobody will give a rats ass about investing in presidential dollars except morons and sharks.

 

My kids can't wait for the Richard Nixon dollar to come out.

 

The "Presidential Dollar" series will not even make it to the Lincoln Dollar. They will go the way of the SACs and the SBA dollars. The MINT will do the same thing that they are doing with the SAC dollars now. Only bringing them out for the collectors. The dollars will not even make it to the Lincoln dollars for circulation. The MINT will have bags and bags of the dollars in storage.....just like the SBA dollars.

As far as the State Quarters are concerned......if you remember, the MINT had NO idea that the coins would be so popular. As a matter of fact, they didn't even have the first EIGHT states for sale in ROLLS!! The first EIGHT state ROLLS are at a premium. Once the MINT found out that the ROLLS would be popular, they started selling the ROLLS and made a killing. It is just the oppisite with the Dollar program. The MINT hoped that the dollar program would be as popular as the State Quarter program.......NOT!!! I will buy some though. Rolls from the MINT because of the wrappers, and probably a few proof sets. But I honestly believe the dollars will go the way of the dodo bird.

swick

 

I think than anybody who invests in coins, particularly modern coins that are made by the billions, is making a huge mistake.

edited to conform to forum rules

 

Well, I think the percentages might be more like 200% to 500%, but I can see being able to sell rolls of these in a year or so possibily at premiums when people can no longer get the Washington rolls from their bank.

 

Bought three rolls

Up until today I have not owned a new dollar coin. So while at the bank, I got 3 rolls. They came in medium grey wrappers. No blank rims found. But what amazes me is the very poor shape most of them are in.
I was hoping to put away a handful of MS condition dollars for the future. Out of 75 new coins I can't say any are in nice collectible condition. One of the rolls had 24 coins total. Another roll had 26 coins total.
I'm just wondering if anyone else has been shocked at the very poor quality; or did I just get a bad batch?
These are P minted rolls bought in Connecticut.

 

Futhermore, one has to question the motives of someone who would espouse others to do so.

 

That is some serious inventment dollars there. I wonder what would happen if you just for grins would pick some stocks that you like and track them, and then track the gain if you bought $40,0000 worth of a certificate of deposit and compaired those paper gains to what you actually get for your numismatic investments. Might be surprised at who ends up leading the pack.

 

Actually, I think you would do BETTER if you got 2007 Sacs from the bank and horded them. As I understand it, for every three Presidental dollars minted, a Sac has to be stamped out. AND, this year is the first year since 2002, the Sacs are suppose to be available in banks, in rolls, after the inital release time for the Presidental. So you could pick up some Sacs at the bank, for face, and they will be a much lower mintage than any of the Presidental dollars. I am going to try anyway to get get some of the mixed rolls.

 

The thing about CDs is you can't lose. I have a special one maturing this month. A bank was celebrating it's anniversary and offered a 1 yr. CD at 7% but the max you could deposit was $3,000.
So for one year I tied up 3 grand and am going to make $210.
My other CDs are for a term of 7 months. They pay 5.3% APY. I'm not an expert at coin investments by any means. But I doubt I could make such gains in coins over such a short time frame.
Of course a chunk of this CD gain goes to the IRS.

 

I would be surprised if the Monroe is issued for circulation, and I think the circulation coins will definitely end before Van Buren (Unless they stop the dollar bills.)

Actually it is 1 for every two president dollars. And if they make roughly the same number of each of the first four presidents this year, that will mean 600 million 2007 Sacs, or twice as many as any one of the president coins and more than any other Sac issue except the 2000. The 2007's will be the second most common year for the Sac dollar.

 

Anyway, the Washington dollars are out, and our order has been placed.

Rich man - Poor man , I guess only time will tell.

 

210.00 on 3k for a year is safe money.

3k invested in coins for 365 days can result in 200 - 300% profits with no trouble at all.

With 3k and OFFLINE auctions, then resell on Ebay one can turn that 3k into 12k within 365 days real easy.
One can always find bargains at Auctions - Yard sales for resale on Ebay.
It is easy to do and the R.O.I. is incredible. Hopefully the oil companies don’t figure this out, they only return about 40% a year on investment.

200 – 500% returns on investment, Per Year, isn’t very hard to achieve on Ebay.

 

I must ask what type of coins are you talking about?
My experience selling on ebay has been hit or miss. Sometimes stuff sells and other times it does not. The latest was 13 Walking Liberty half dollars in a new Whitman folder. I listed it at $49.00 and got no bids at all.
Then I saw 14 raw Walkers without the folder sell for over $65.00
So it makes me wonder if trying to sell coins in partial sets is worse than just a bunch of random raw coins in a pile?

 

my bro and mom are big ebay sellers, (my brother does it for a living- electronics). He makes ok $ but he works his tail off.

Do not kid yourself, Ebay is work.

 

Purchase the CD's using funds that in a Roth IRA. You won't be able to use the funds until 59 1/2 but the income growth will be tax free.
You just keep rolling the money or using it for othe investment within the Roth.

CD's are very safe, but for that reason they are also relatively low yeild. There are investment where you can get a better yield, but the risk of losing your investment is greater. It all depends on how much risk you think you can tolerate.

I don't mean to be offensive but I have a little concern over taking that kind of advice from someone with the name CoinScams, Honest Trader maybe, but CoinScams?

 

Only Buy Washington Smoothies

There are probably only 60,000 or 70,000 out there and the only thing holding the prices down right now on ebay are a few large hoards that are being dumped to the tune of a couple hundred a day on ebay. The hundred million or so collectors of presidential dollars out there will need this coin if they want a true complete set. Also it is only a matter of time before some tv promoters buy these up and pump them out on tv. Not only will the popularity of the presidential dollars drive these smoothies up, but so will the fact that this is a true error as opposed to some hype created 55 double die or 37 buffalo 3 legged. I've already bought about 15 ngc graded ones and I will continue to buy until I get to 100. 5 years from now these will help pay for a nice condo in florida for me.

 

Friend 99, what are you talking about? What's a "smoothie"? Thanks, Douglas