New to Collecting - How to Collect Presidential Dollars?

I promise never to ask another stupid question but I'm pretty new to coin collecting and would like to begin by collecting the Presidential dollars that are supposed to come out this year. What's the best way to go about this? Would it be smart to attempt to buy bags from the mint? Are coins in bags considered collectable for the long term? I'm just planning to buy them and hold on to them. Should a person try to get bags from all of the mints? Any help is appreciated.

Thanks, LTCM

 

Log in or Sign up to hide this ad.

First, Welcome.
Second, the only stupid question is the one that you know the answer to, but ask anyway.
Third: I am not sure, so the question is not that stupid.
4th: Someone will answer you shortly.

 

Welcome to our forum glad to have you.:hail:

 

Welcome.

4 Presidents per year, Philly & Denver. Thats 8 bags at $347 each = $2776 plus shipping. Over 10 years its gonna cost you over $30,000. and you can't even see the coins.

 

Hello LTCM. If you want to order them in bulk (bags, rolls), as you are implying, you should get them from the mint directly. Yes, it will be expensive but not as expensive as if you obtain them on the secondary market. If you just want to collect a few uncirculated examples of each (less than a roll), then you can get them from internet sales/auctions, coin dealers, coin shows, etc.. IMHO, you can pretty much forget about finding them in circulation.

 

i am waiting to see if they come out with the silver proof set.i think that is where the real value awaits.

 

Not a dumb question since I was wondering the same thing. I just want to get a P, D, and S, but wasn't sure how they will be released. I'd rather not have to buy some high-falutin' package deal for each coin. Mostly just a nice version I can put in a Dansco album for display.

 

I wouldnt go to the expense of buying bags of those If you want a few of these from each P and D mint then just order rolls from the mints web site at www.usmint.gov. Thats what Im thinking of doing plus I subscribed to recieve both the silver and regular proof sets.

 

The best way I think is to buy then straight from the mint as they haven't been released yet. The alternative is to wait and buy graded coins. I wouldn't put away rolls or bags of them as they will probably be minting a gazillion of them.

 

Why? All you will do is pay a premium for common, circulating issues encased in a worthless plastic coffins with the false impression that you have something rare and valuable when in fact (in your own words)............

Maybe you will be lucky and get "First Strike-Early Release" MS-70's worth thousands of $$$$$$.

I'm sorry but this seemingly non-stop belief that every coin that the mint issues belongs in plastic is getting rediculous. Break them out, throw away that darn plastic junk and enjoy coins the way they were meant to be enjoyed. Feel the force, Luke! Avoid the dark side! The TPG's are just humans with magnifiers and not Gods on plastic thrones atop Mount Olympus!

 

I'll probably get two (2) 25 count rolls of each from the mint. Thats $140 a president (P&D). I'll open one roll for friends and work associates and keep one roll sealed.

I figure if you do this throughout the length of the issue, a complete P&D set should cost you $115 ea for $88 or so dollars. My line of thought is that a complete set will certainly be worth $115 ea, probably double that, so I forsee some payoff.. like a light at the end of the tunnel.

In addition you will have the "S" Proof coins.. and rumor has it that they may make an "S" Silver coin of each president, that will be the nice one!

 

I think all the people that do it that way end up with scratched coins in the long run. The idea is the slabs protect the coins, so you can enjoy them but also have them retain their value over time. It is better to have the plastic on the slab scratched than the coin.

Also, does anyone have a number on the number of coins of the 19th century that have graded a 70? I think most collectors used that method back then and it looks like none of the coins survived long in the top 2 grades. Just looking down the pop reports I see no 70's and almost no 69's from long ago.

So I think getting graded coins today makes sense, now we can discuss what are the best coins to get and that may be better for a different discussion, but I think the collectors in a hundred years will be happy that the coins of today are being cared for as well as they are for future generations.

 

I plan to simply buy one of each

 

and Einstien was just a man with chalk, and my plumber is just a man with a wrench, but I need my plumber and value Einstein. I agree with your initial premise that these coins are not worth investing a ton of money into and that someone needs to have a lot of money to waste on a bad investment to chase a MS70 coin, especially one of the upcoming dead presidents variety with thousands of dollars.

But the drift into generalized TPG bashing is something I don't understand. I see very little wrong with third party graders and slabs for coins (Comic Books are another matter). In fact, for many purchased coins, I think you need to have a reliable 3rd party grade in the slab before laying out $500 bucks for a coin, UNLESS your name happens to be Doug

Ruben

 

BAGS? BAGS? That might be way past collecting and into hording already. You don't really want to hord these coins, do you? The interesting thing about these coins might be the engraving on the side, especially in proof. But my guess is that fad will grow uninteresting real quick. The most interesting ones might be the ones for Presidents who were wifeless.

Ruben

 

why do you think that?

 

Actually it is the spouse that will be the interesting coin, the return of the flowing Hair Liberty!

Thomas Jefferson Presidency Thomas Jefferson first spouse coin obv Thomas Jefferson first spouse coin rev
Years Served: 1801-1809 Release Date: 05-13-07
Thomas Jefferson's wife died in 1782, so there was no First Lady during his administration. The obverse features Liberty as she appeared on the half cent coin of 1800-1808. The reverse shows his burial place and final words.



They could have used Hensen

 

My bank asked me if I wanted them to get me one or more rolls of each of the Pres dollars. So I'll get 1 roll of each from the Denver mint from my bank, for face value. Now I need to find someone on the east coast that wants to trade a few of their Ps for a few of my Ds.

 

Is there a date that these presidential coins will be released?

 

sweet