Hello All... I could use some of the pro's input here.... When the presidential dollar error coins were discovered back in 2007 (washington and adams smooth and double edge) I mostly bought all I could in raw form for about 40 to 50 dollars each... Back then I did send in 100 of them to be graded at ngc and three came back @ ms-67 and the rest were an even spread of ms-64 ,65 and 66. However I still have many more left in raw form. Now its the CERTIFIED presidential error coins that have really DROPPED DRASTICALLY in PRICE lately and the raw are selling for just about what I paid for the raw back in 2007 give or take ten bucks.. Now I don't know what to do at this point.. SO SHOULD I SELL , HOLD , OR WHAT ??? any advice is appreciated very much . Thank You All
What you described is the typical cycle for many errors of this sort. When they are first found there is a lot of interest in them and the prices go way up. As the novelty wears off or as more of the errors are found or as new errors are discovered the interest in the previously hot errors wanes and the prices drop. I can't tell you what to do with your coins but I suspect the peak is behind us. The time to sell may have already passed because the time to sell 'em is when they are hot and they are no longer hot.
Also without telling you what to do with your coins I would hold them. If the interest in the Prez Dollars pick-up the value of the errors will more than likely increase again over time. The one error (some don't call an error) that seems to be holding fairly good is the ASE 2008-W with the reverse of 2007. I was lucky and got one right as they were discovered at a very good price, that was a year ago and it is still worth at least double what I paid for it. I somehow got in under all the hype.
