What's the smooth edge dollar worth ?

I really doubt it. I don't see the general public collecting the $1 coin, and keeping it up for years, when they will never actually see this coin in circulation, as its more of a medal-coin without even much metal value.

I really think it goes down rather than up, but could be wrong. The 55 DD is just so much cooler looking, I can never see GW get past that value.

 

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It has been my lifetime experience that on an issue you can take the best case and the worse case scenarios and the actual truth lies somewhere close to the middle. On the Washington error coins, if you are a collector and plan on collecting the presidential coins, then I would think this "variety" will be an important part of this issue. In the lower grade coins, they are not what I would call an expensive coin.

Like other investment this coins is a gamble. from what i understand coins are particularly risky because of trends and hype. If you have a "good feeling" about this coin and you can afford it, what the heck. personally I will not put a lot of money into these coins . Sure wished I had bought more of the gold and silver anniversary set and the 2006w silver eagle. Could this Washington error be on my "wished i had bought more" list. I hope not lol. Father time will be the judge. Good luck to us all

 

It might be instructive to note that as of this moment while upwards of some 20,000 Washington Dollars have been "slabbed" by just PCGS and NGC, alone, not a single example of this so-called "error" is being offered anywhere on the Heritage website. And yet, at the same time, there are literally dozens of Washington Quarter errors, in the Heritage Errors section, as recent as a 1983-P. Kinda makes one wonder why ebay bidders are so lucky or otherwise singled-out for this distinctive honor...

 

so what would this imply? that Heritage might not be looking at these coins as true errors?

Im not trying to be devils advocate on this one, like the rest of us, just looking to figure it all out ...

 

I don't think it's any fault of the auction house. I think it's a matter of the sellers not having the guts to offer these there (i.e., to the more knowledgeable collectors). Anybody can offer these in the Errors section, any time they want. These are slabbed and graded by reputable TPGs...what's the prob?

 

thats kinda what i was thinking. . if there was a reason they werent yet offered there... It makes my (sinicaly) think that the people in the know in this hobby know or think something about these coins that i dont know and havent figured out yet ... it just makes me think might be missing something i should be seeing ...

 

I called a local dealer I know pretty well and asked his opinion. He won't buy them, doesn't consider them a true error, and knows no other dealers buying.

Seems more and more to be a coin you can't sell anywhere, but ebay.

It appears this is too common, and will be rejected in time.

I think it might be comparable to the quarters struck on dime stock in 1971 ( ?) as history determines its price.

 

its possible, time will always be the best judge. I havent, and i wont 'buy' one, but i would like to find 1 or more in circulation.. if only as an interesting piece I have found several other 'weirdo' items on the prez dollars, i think i will let time tell me what, if anything, i can do with them .. i.e. sell spend or keep ...

 

Appears to be the case. If you can get unsearched dollar rolls at face value, go ahead and look for these, and sell any you find quickly before the hype dies down (no risk involved there since you can just spend the non-errors for what you paid for them!). Buying any of these just seems a waste of money investment-wise. If you want one for the sake of your collection, I'd wait a while because you'll be able to get one a lot cheaper than they sell for now if you wait for the hype to die down (or again, just search for them yourself out of face-value dollar rolls).

 

Why would you care about 1 dealers opinion when ebay

has tens of thousands of people making the market each day??

"I called a local dealer I know pretty well and asked his opinion. He won't buy them, doesn't consider them a true error, and knows no other dealers buying.

The problem with the old traditional dealers is that they are still old school, they aren't caught up with the ebay phenomenon which controls the coin prices. Why would a dealer want to buy an ms65 for anyways from someone. For example, if I went to a show and I know I could sell a 65 on ebay for $150 and a dealer needed to offer me $100 to make his profit why would I want to sell to him when I can throw it on ebay for $150? It is only basic human nature for dealers to be jealous from what I found in the past because many of them typically buy tons of rolls of new uncirculated coins and with these Washington no edge errors a few dealers in jacksonville hit the jackpot that they never expected while the rest of the dealers sitting on many of these rolls came up empty handed. If you were a dealer wouldn't you love to buy $2000 worth of Washington dollars or 80 rolls with the expectations of making a few bucks on each roll and then bang all of a sudden you realize in your area they are finding these washington errors and all of a sudden your 80 rolls have 500 errors in them that are worth $100,000 instead of the few hundred you orginally anticipated on only making? Well this happened in FL and the rest of the country had to sit back and watch while they struck gold and only dream if it had been them. Of course, it is human nature for every dealer across the country to wish that they had showed up in their area and they had also struck gold, but of course it didn't happen that way, so how do you expect dealers to react? Through jealousy and putting the coin down which is basic human nature. Once again, no one needs a dealers business anyways when they can go on ebay and dump it in less than 24 hours and the dealers know that their low ball offer will most likely be rejected anyways because most people know about ebay and whbat the going rates are, so most dealers know they can't make money on buying coins that are readily available on ebay. I traded in the nasdaq for over 10 years and when the internet boom came along all the old schoolers were laughing the stocks off claiming that they would be worth nothing in a few years and while they kept laughing stocks went from pennies to hundreds of dollars creating thousands of millionaires throughout the US. I'm buying as many as I can get my hands on within my financial means and I could careless what any dealer thinks, but instead what ebay thinks which is where the true market is for coins.

 

A true errpr??????

"he doesn't consider them a true error," What does he consider a true error then?? I mean it doesn't get much better than this the date completely missing along with the other great stuff. What is a true error then? Some of the crap I see on ebay like the Minnesota quarter where you need a NASA microscope to see the extra branch on the tree? Once again, he probably has a ton of regular washington dollars to sell you, but all the rolls he opened hoping to find some smoothies came up with nothing, so now he wants to downplay them because he doesn't have any to sell you, but hey I got this one Washingto dollar if you look under this microscope you can see a die crack by Liberty's head. LOL

 

I certainly consider it an error myself, this dealer isn't really old, but he's no error specialist. He said he can tell the real item from one made with a Dremel tool.He chooses not to deal in them, and brought up ebay before I did.

He thinks it will fall in price, I have to agree.

Time will tell, but I don't like a coin that is hard to sell. Since I don't sell on ebay, if I had these and offered them raw, I'd probably find few buyers taking a chance on me.

A dealer should be willing to buy these at some price, IMO, even if only $25. I think a lot of dealers are taking the stance of refusing them at all.

 

Anybody know the price history since it was first discovered ?

were the prices way high once the first were found, then a steady drop, or something else ?

 

Doug21, in NN there was an article how the first smoothie sold for $600 to one of the editors/writers ...

 

That's cool before you knew how many there actually are. I can't see any being cracked out, so all slabbed are once thru, with many raw still out.Looks like a good 100,000 + to me ?

 

Let's look at it this way... which is what inspired the thread. A non-numismatist, and presumably not an e-bay vendor finds a couple of these in his change jar, he doesn't want to sell on ebay because he has no furthur use for ebay, and no feedback.

The damn coin is almost unsaleable, if "regular coin dealers" refuse it.

So what is it worth ?.... I say a lot less than it sells for on ebay !

A real coin ( like say a $20 gold piece) can be sold to any dealer, I think this coin is all hype. What do I tell the guy it's worth ? I said $50, seems you can't get $50 for it to me, otherwise my local would buy it, instead of refuse it.

What if my bank had them, and I bought a roll for $25, and they were all smooth ? How can can I sell the roll for $1,000 ? I really can't

I think the whole market is BS.

 

I got my cover issue Washington dollar yesterday with the $5 box. I was disappointed with the box but it will hold the next five or six I buy in the series. It was in a sealed hard cover envelope like the state quarter first day covers so I did not dare open it. I was wondering what the chance is of a clean edge being inside. I think that would really make it valuable if the envelope was unbroken when discovered. Has anyone opened up their cover issue Washington dollars and checked the coin out?

 

As a long-time investor (not in coins), I'm always much, much happier to have some hype-of-the-day wind up on my "wished I bought more" list than on my "wish I hadn't bought" list.

 

lol thought I had seen that before. Could not agree with you more. I like to play the lottery to but never more than I can afford to loose.