Presidential Dollars ?

Hi Good Folks,
When the mint first started making the new gold dollars I grabbed the the first 8 or so presidents 1 or 2 rolls from my bank of Probably P mint Coins. I was told that someday they may be worth something Ha Ha. Should I try and trade them for maybe silver dollars? hold onto them Sell them? I think the ebay going rate is around $31.00 a roll are washington's, Jefferson's and Lincoln worth any more To any one now that they are not being circulated any more?
Whats your thoughts on the matter? JON

 

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I have them too. They are worth about a buck a piece. I'm holding mine but you may want to use them. They do create a little conversation when you use them around town.

 

Basically, because the Mint did not REPLACE the dollar bill, they minted too many of these and according to many sources, there are literally "billions" of these sitting in vaults somewhere. It turned out that since the goverment decided to mint the dollar bill along with these also, the people found the dollar bill was still easier to use and so these Presidential dollars were not in demand. And as you may know, the Mint stopped making these for general circulation the last of last year and now only makes collectors quantities.

As has been discussed on this forum many times, these Presidential coins are of low quality, tarnish quickly and have been proven to be not very collectible.

Things could be changing though. See this recent article:
http://www.nydailynews.com/news/national/ax-dollar-bills-save-money-congress-article-1.1211013

There are some different opinions on the cost savings: http://www.npr.org/blogs/money/2012...llar-bill-would-not-save-the-government-money

Bottom line, I think the Mint will gradually replace the dollar bill with coins just like Canada did years ago, and the billion dollar coin stockpile will be put into circulation, making these coins even more plentiful, of less value and less collectible.

Apparently, the GAO will make some recommendations to Congress the middle of December, 2012 and after learning what Congress eventually votes into law, the most prudent thing to do is break open the rolls, look for errors, and collect the P and D mint coins of each President into a Dansco album for your kids or grandkids.

That's what I would do!

 

IMO, making well preserved specimens very hard to find 50 to 100 years from now, making the numismatic values rise accordingly.

 

Hey! How about that 'Miss Bum Bum'?

 

I just wanted to add that these are unopened Bank rolls or mint rolls, Yes I know they have flaws because of the way they are made and smashed,and slid together and dumped into a big bag. But did they make a lot of George? or Thomas Jefferson, and Zach taylor, and Abe Lincoln's ?

I thought I read that they did not make enough George Washington's to fill demand of collectors. I do wish they had 26 in a roll so I could put one away in a coin holder for the grandson's . I guess they would be a opened roll then Huh!!!!! Ha Ha.

I mean it was some extra money that I made at the time that did not need to go to anything and that's why I bought them. Heck I have 10 unopened rolls of D mint Wisconsin Quarters possible error coins also that I am going what to do what to do. LOL Do I open check for errors on the corn or sell locally for $15.00 or less a roll even at twelve its like buying a lottery ticket for some.

I know they should be always worth a dollar ,I guess Unless the gov has a complete melt down and then they could be worthless correct? And I would rather have silver in there place specially if silver investments grow.
If the going eBay rate is around $30.00 + a roll, Minus fee's of course is there any chance a coin shop would trade for a very used Morgan or peace for a roll of these? even if I had to throw in a war nickle or something.

I have never been to a coin shop. I do not know if there are any in my area I know there are some 30+ miles away. So excuse me for my ignorance if that is way out of whack for them to do.
JON

 

You could check eBay for completed sales for an idea of what unopened rolls are going for.

 

If only you were fortunate enough to pick up a few of these rolls........

http://www.ebay.com/itm/-/251134761761?item=251134761761&ViewItem=

 

I got lucky. I'm sitting on two of each.
Way back when, I tried to sell them for $150 per pair, but was told too many times my price was too high.

 

The Dollar Coin Detractors live in a bubble of their own making and can come up with the most petty of reasons to not use dollar coins even though some of those reasons seem silly beyond reason.

A bowl of coins by his bed? Would this be a cereal bowl? Salad Bowl? Serving bowl? Fish Bowl? Whatever. It's dead money that he's lost until he actually spends it. Evidently he's not worried obout the "tax" of his dead money so why be concerned about a few dollar coins? (I wonder how many Half Dollars are in this mysterious bowl?)

Hey, we live in a wasteful society! Americans are simply wasteful! Folks literally "throw" money away and it doesn't matter how rich or poor one mught be, they'll toss it away without even thinking! I mean, who picks up money that found on the sidewalk or in the parking lot anymore? How many times have folks seen nickels and dimes in the "take a penny leave a penny" bowl?

How often do we, as a society, only eat at restaurants where the servings are so large that we either put on weight or simply throw out what we don't eat?

Yet, every Tom Dick and Harry wants to jump on the "don't FORCE me use a dollar coin cause I love them dollar bills for the strippers" band wagon.

Excuse me, I gotta go puke!

 

We have to keep the paper $1, $2 and $5.
If we go to coins, strippers will have to wear fanny packs instead of garters.
No one wants to see that.

 

Right on Lee. If Mayor Bloomberg (NYC) can tell us what size soda pop we can purchase at the local Mickie D's why can't the goobers make the dollar bill go away?

 

Somebody needs to go to their happy place.

 

I haven’t been following these closely, so let me get this straight. The huge premium on these is for the mint wrapped rolls and only because of the wrapper? If so, kinda like the Delaware $25 bags I sold for $900 back in the day. People are NUTS!!!

 

Got dat right.........

 

My 2007 Washington Prez $ in NGC MS64 missing partial edge lettering just sold last night on eBay for $217.

Chris

 

I would but all I have a dollar coins and the strippers get a little irritated when I toss them up on the stage. It's a (s)tripping hazard.

 

Is that not what I have? Whats the difference? I don't have P&D just P probably cause I live in NY but they look like my wrappers I think. It says business strike are they dif from the others?

 

abuckmaster147, just so you know. Per the images above, the first one is a US Mint roll which is packaged at the mint as they come out of the dye. The other one is from a "Bank Roll" where the bank gets them in bags from the US Mint and they are placed in bins and are usually banged around a lot before they are mechanically placed in rolls.

You probably have the Bank Rolls which you got directly at the bank. It is the "Mint Rolls" that are scarce and are worth more. Hope this helps.

 

First, none of them are scarce. If you think that the fancy piece of paper that the Mint uses to roll them will add any significant value to them, you're only kidding yourself. All you have to do is look at the SQ Program and what happened to Mint-wrapped rolls. They were selling for $35.50 for a P&D set and just a few years later you were lucky to be able to sell them for more than $25.

I don't believe that the banks roll their own coins either.

Chris