Please Help

Please Help... I purchased 40- $1000 boxes of Presidential Golden Dollars as an investment. They vary in Presidents, I think it is the first 8. The bank has them up as collateral on a loan and will apply them at face value to what I owe. I have 1 week to try and sell them for more than face value. What can I do, if anything? They are in sealed US mint boxes like the one in the picture. The box in the picture got dropped. The 40 boxes I wish to sell are mint in a bank vault. Please, any advice would be appreciated.

 

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They aren't worth anything over face value, so you might as well use them to pay off your loan. How'd the bank end up with them?

 

Really? there's no added value in the sealed US Mint boxes.

 

Bank's got em in the vault for me. Secure Storage. No offense, but I sure hope I get some other opinions. Even if I can gain a dime for every dollar somehow. That's 4 grand.

 

You might be able to get a few dollars over face if you sell them by the roll on Ebay, but you definitely wouldn't have them sold within a week. They minted literally hundreds of millions of them, so there's no real collector value yet. Maybe 20 years from now or so there will be.

 

You could make some short sets and sell them at a bit of a profit, or you could check for missing edge lettering. Both will take a bit of time, but could earn you a few bucks.

 

jlogan -- Love your AVATAR!! I sure hope we can always display such images in this country.One for Lee.

As to the dollars: well you are stuck with them. I know of no dealers interested in such a lot. You might try bidding them off at Heritage or Stacks? But then you would have to have a very high reserve, which would be very unattractive to bidders. I do not think a bank would go along with that. Accept the fact that they are each $1,000. No loss, no gain, that's not so bad.

 

Cash them in. Fees and shipping kill any chance of making anything over face value. Sorry but that's my opinion.

 

You can turn lemons into lemonade, if you know what your doing ..

 

use the to pay the loan, in 200 years you may have made a profit on them.

Punt

 

I know of no worse investment than the Presidential Golden Dollars, honestly.

 

You're unlikely to ever gain more on them than you're losing by paying interest on the loan, not to mention whatever the secure storage has been costing you.

The phrasing of your question, though, makes me think that you're in trouble on the loan (the bank is "applying" your collateral to what you owe). Don't look to profit on these as a way out of that. Apply them at face value, and consider yourself lucky to be out from under them.

 

Good advice here.
You could probably sell them over time on Ebay, by the roll, advertising the potential of finding ultra high grade errors, or putting away a roll of high grade coins. But it would take quite awhile and I doubt you would net more than a couple hundred in profits after all. Pay the loan at face value with them. Let the bank deal with it.

 

I agree with everything that's been said. They are worth a dollar.

 

As of yesterday, I see only one dealer on the teletype systems buying the early issues that were meant to be used for circulation and only the following. JQ ADAMS, JACKSON, VAN BUREN, HAYES. I am not sure what they are paying but it won't be over 10¢ over face and not in unlimited quantities.

 

What a dilemma,

 

Teletype!?!?!?! What the hell?

 

Let 'em go - it'll be a weight off your shoulders and vault. 40,000 must weigh a LOT! I agree with everyone else. Sales/auction fees and shipping would overwhelm any small profit that you could possibly make.

 

I still call them "teletype" but the years of the huge, green printers and the clatter of incoming bulletins has been long, long gone.

Of course they are now internet platforms.