What is the difference??

Discussion in 'US Coins Forum' started by Andy-nj, Feb 17, 2010.

  1. Andy-nj

    Andy-nj Junior Member

    I've been seeing a lot of ads on TV for the Presidential Coins and I'm confused as to what/how the US Mint finished the coins. I've seen them in 24kt gold and satin finished.

    I'd like to buy these but I'm unsure what is a good investment. Can someone point me in the right direction please?

    Thank you.
     
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  3. Ladies First

    Ladies First Since 2007

    The mint offers satin finish coins in their uncirculated annual sets. I buy them from usmint.gov The gold plated coins are what a coin collector would call "post-mint damage!"
     
  4. GDJMSP

    GDJMSP Numismatist Moderator

    Howdy Andy - Welcome to the Forum !

    First of all, any coin, and I don't care what coin it is, that is gold plated is considered as junk by coin collectors. The gold plating is done by private companies who then sell the plated coins to people who are not coin collectors. People who will believe the sales hype and gimmicks that these salesmen use. Coin collectors consider these plated coins as having been damaged.

    And the gold does not make them worth anything either. There is maybe 2 or 3 cents worth of gold in the plating.

    Now, if you wish to collect the modern dollar coins, that is just fine. But buy them directly from the US Mint.
     
  5. Andy-nj

    Andy-nj Junior Member

    I see that I can't buy the first year of Presidential coins from the Mint anymore, if I were able to find these anywhere what could I expect to pay for the set?

    I guess I should stay away from the home shopping clubs offering Satin Finished coins also correct?

    I know I'm waaaay behind in starting to collect these and that might just stop me before I start, but I'd rather buy the right coin so I don't end up getting burned. Thanks for the welcome!
     
  6. Ladies First

    Ladies First Since 2007

    Get an eBay account, search for 2007 satin and check "completed listings." It will give you a great idea of "market value."
     
  7. Ladies First

    Ladies First Since 2007

    Hmmm... If you don't want them slabed, search for 2007 uncirculated set.
     
  8. Buy your presidential dollars from the US Mint or get them at the bank. Stay away from marketing gimmicks and high premiums. TC
     
  9. Shoewrecky

    Shoewrecky Coin Hoarder

    Wouldnt it be a federal offense to damage a coin made by the gov't? Just to make a up a scenario wouldnt be like burning the U.S. Flag?(Obviously my example is serious offense, I am trying to give relation to what you were saying).
     
  10. GDJMSP

    GDJMSP Numismatist Moderator

    It is not any kind of offense, federal or otherwise, to damage a coin. Neither is it an offense to burn a US flag.
     
  11. Andy-nj

    Andy-nj Junior Member

    Wow, the prices are all over the place on Ebay. Now I'm really not sure. I kinda don't know if I can trust someone on Ebay either. Maybe I can get a few catalogs From coin dealers. Any good suggestions of who to buy from?

    Thanks for the help, I know I'm lost but I do appreciate the help!
     
  12. Shoewrecky

    Shoewrecky Coin Hoarder

    It's not an offense to burn the flag under the first amendment..but it is to me my friend :)

    To get back to the topic, I thought it would be an offense to intentionally damage a coin. But that's what I get for being ignornant.
     
  13. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Avoid the hype of the T.V shows like HSN
     
  14. Andy-nj

    Andy-nj Junior Member

    When I did a google search I saw HSN had a set of 2007 P and D in satin finish sealed in their own plastic holders for $49.95. Seemed kinda inexpensive but then again I wasn't sure what they were going for.
     
  15. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"


    You have to be careful when dealing with people like HSN, Most
    Of the stuff they sell you can get much cheaper on line you just
    Have to do a little research!!

    Anybody on CT will tell you the same thing :)
     
  16. mark_h

    mark_h Somewhere over the rainbow

    Welcome to the forum. Stay away from HSN - they are overpriced also. At this dealer here you can get them for $26. Keep looking and you might find them even cheaper.
     
  17. Ladies First

    Ladies First Since 2007

    How come no one ever burns the first amendment?
     
  18. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Andy-NY if your "I know I'm waaaay behind in starting to collect these" then what are the rest of us doing starting coin collections with coins that were minted a 100 years before we were born or an Ancient collector for that matter!! :p
    By that I mean...NO of course you've not started way behind for these. They arent even all out yet. If your wanting to get a mint collection go to usmint.gov and order the $250 worth of the presidents that you can for face value with no shipping and look for the ones you can't get for cheap too. You'll be able to cherry pick the best ones if your just wanting a set or two and spend the others or keep the all and have a roll set ;)
    Now if your wanting a proof set then go to some coin dealers/shows/ebay ect and start. Get a red book and look up some values on what to pay but no matter what you decide...STAY AWAY from HSN lol
     
  19. Andy-nj

    Andy-nj Junior Member

    Duke, I didn't think of it that way... obviously. No matter what great deal it might seem like, if it isn't the US Mint or a coin dealer I'll stay away. The last thing I want to do is waste my money.

     
  20. Duke Kavanaugh

    Duke Kavanaugh The Big Coin Hunter

    Well they just have a "better Sales pitch" and you just dont get value from them for your money.
    Are you looking at doing a mint set or a proof set?
    Both are attainable easily and your not too late.
     
  21. Andy-nj

    Andy-nj Junior Member

    I'm not sure to tell you the truth. Which has better value in the long term?
     
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