Hi, I'm new to coin collecting and the only reason why I'm here is that my wife came across 5 smooth John Adams errors after going through about 1200 rolls here in Michigan. We don't need the money so we plan to keep these for at least a few years, but I was wondering where these could be heading price wise. I was at Barnes and Nobel last night and I was reading in a coin magazine that a Jackie Robinson commerative coin from the US Mint sells for around $5000 and there was about 5100 minted. From reading message boards here and elsewhere some are predicting only 2000 to 3000 of these Adam's dollars with missing edges, so from a scarcity standpoint it looks like this coin fits that criteria. I looked into having these graded and it looks like we could get around $800 for each one if we were to have them graded assuming they would be ms65 and ms66's. I just wonder could this coin have a good possibility of going to $5000 like the Jackie Robinson coin did? I know anything is possible, but I'm not really sure of the dynamics of the coin industry.
lol..........truthfully, there is no way of telling what the value of a coin is going to be in the future. Sure, you can go by trends for a rough estimate but this coin and the errors associated with it hasnt been around long enough to create a price trend. I wish I knew the answer to your question. I'd be making like the Hunt brothers and buying all of them that I could.
You are to be commended for doing your homework, but comparing the Adams error to the Robinson coin might be like apples and oranges. With these new errors, it may be the case that the price will rise, but it might also be the case that the best prices are now. When the Washington smoothies were discovered, the biggest money changed hands before the full scope of the error was understood. Certain coins (in my opinion, errors are a prime example) will not appreciate as time goes on in the same way a good mutual fund would. If it were me, I would keep one or two, sell the rest, and invest the money.
Oh sigh........ You are new to coin collecting. But on the other hand, you buy 1200 ROLLS of dollar coins (just for the "hey" of it). THEN, you go to a Barnes and Nobles to READ a coin magazine, because apparently, you spent all your money on the 1200 ROLLS of dollars and don't have money enough to buy your own copy. My friend, I wish you well in your "coin collecting" activities. I'm sure you will do well. I am already looking forward to your 1000'th post on CoinTalk, just like ShortgapBob just accomplished.
I personally think its irrelevant how this man buys or collects his coins or where he prefers to get his information. Also, whether he can afford to buy 1200 rolls of dollar coins and a magazine is his business. As long as he's enjoying this hobby his way. I think your comment was totally uncalled for.
Just my gut feeling (could be indigestion) but I like the error presidential coins. The adams smoothies appear to be the rarest by far of these. I will not mortage my house or plan on retiring with them but it is hard for me to believe that they are going to keep pumping these things out like a regular mint issue coin. Then again, as they tell me at work, what do I know. By the way welcome to the forum. Think you have started off real well. The future of these coins is anyones guess. Good luck , take your time and above all enjoy
I'm with indianhead here, I think pocketchange's comment was totally uncalled for. If it makes OP feel better. For years, my coin collection consisted solely of items found in circulation. I search through more than $500,000 worth of coins in a year, yet, I use the library to get books, magazines, and movies. Just because you have money, doesn't mean you have to spend it on what other people want you to.
