The New Dollar Coin: American Innovation

I have every modern commemorative that started in 1983. I have mint, proof and silver proof sets going back to the 60's. I started the AE series when it started in 1986. I quit a couple of years ago. I got special sets. What I have now isn't worth what I paid the mint for it.

So, if you are thinking about buying from the US Mint as a profitable investment you should think twice. It won't happen in your lifetime.

 

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Wow, that's impressive. I also have a ton of modern commemoratives (but not nearly all of them) and proof sets (mostly silver) that I started buying back in the 80's (I'm 61, born in 1958).

I agree with everything you've posted, it was fun for a while but they ruined it, just like they did the first time around.

 

Shipping costs sucks from the mint. I wish they would just offer slow shipping, but free. I was thinking about it after I initially posted. I might just wait until the last coin comes out and get everything at once to save that money.

This is true, but I still like the sets. A couple of sets I wanted when I started collecting last year, I actually had to pay more than what they sold at the mint because of the presidential dollars. Due to that, I just don't bother with trying to play the pricing game and I don't buy in hopes they are worth more. Sure most of the sets I got cheaper, but I just don't think about it. It bugs me more knowing I paid more for a 2nd hand set when I could bought it cheaper new when it came out. It doesn't make sense, but I have peace of mind.

You have no clue how mad I was when I realized I missed the reverse proof they did for the innovation dollar a couple months ago. Ended up buying a slabbed version instead.

 

Every newbie should read your post because you get it. Buy what you like and enjoy the hobby. Use a 401(k) for retirement planning, not coin collecting

 

I've voiced my displeasure with the mint and the lack of appreciation in value. But, I'd like to say that a person needs to collect what they like. What they enjoy. When I started in 1948 I thought it would never end and I would keep everything I found or purchased from the mint. So far that part has worked out. Don't do it for profit. Do it for fun, your fun.

 

Well, I started 10 years before you were born. You have an impressive collection and when you are my age it will be much more impressive. I hope it will be equally as much fun.

 

Hey kids, listen to the voice of experience. If it's fun for you, then buy it for fun. But understand that it's most likely a losing proposition.

 

Thanks, that means a lot. I got hooked in the late 60's with my parent's cigar box full of silver, wheaties, and buffaloes plucked from circulation. Drifted away during college and getting my career started but came back in the 80's - about the time the TPG's and the modern commemoratives started.

Still having fun. Still not rich.

 

I get free shipping on all my orders from the mint. I am sure there are others here that get free shipping also.

 

You get free shipping after you pay for it 3 times. Not exactly free.

 

No go for me

I've had so many different orders this year due to Apollo, W penny (all sets as released), and grabbing some mint bags. I am way past the 3 orders. lol

 

Of course after 10 years you will need to get $45 per roll just to break even.

I understand your disappointment, but the Mint is under no obligation to make sure you make a profit. They are a business and when it comes to coins sold to collectors their responsibility is to set prices so as to maximize sales and profit to them, not to preserve a secondary market. And since most items don't sell out, that means anyone who wants on could buy it from the source. In a case like that most of the secondary market has to come from new collectors that come into the hobby later.

 

Create an account and log in when you buy. They keep track and give you free shipping starting with your 4th order in a calendar year.

 

No, I am just a moron. Was in the middle of typing an update. I logged in after the capture, but I only looked at the drop down which still showed the price. I only noticed it as I was about to close the tab.

 

You are absolutely correct. However, I have been addressing the impression that many people have that they can get a profit from mint purchases. I never cared about a profit. I am disappointed at the mint primarily because they have flooded the market with worthless junk coins. The sole purpose of the gold dollar is to put a few out there for collectors, hoarders and dealers. The rest they put in vaults because nobody wants them. Therefore, if you have any, the value is measured against the total mintage, not the total immediately available. The mint should produce a limited number of these junk coins. Actually, they should just stop making them.

 

I hope that the mint will eventually start sending the "older" dollar coins around to banks for circulation. I hear the conversation about the mint making a profit and that's fine, however, you would think that they could release the Sac dollars, and maybe the presidential dollars for us to spend and to collect. Without collectors finding coins at the bank and in circulation, they won't catch the collecting bug and less people will be ordering from the mint.

 

@runninghorse1 The sacs and presidentials are out there. Next time you go to a 7/11/ convenience store, just ask them if they have any in their cash drawer. They are happy to get rid of them. I also asked my bank the other day and they gave me $45 worth of a mixture of SBA's Presidentials and Sac's. I get quite a few Kennedy halfs that way too!

 

Of the 45 I got I kept these 11 that were in great shap for my collection. The others went into storage tubes for when things get tight.

 

Some of the President dollars were only available from the mint. I think @runninghorse1 is asking for the NIFC coins to be released instead of being destroyed. I could be mistaken, but I imagine it like the halves of today where the only new halves at the bank are from someone who bought a ton of bags and dumped the rest he didn't want.

 

You may be right TY.I think I misunderstood his post.