Would you do this?

Discussion in 'Coin Chat' started by Witty38, Nov 16, 2012.

  1. Victor

    Victor Coin Collector

    When they first came out I was buying rolls at the bank for face value. I am not impressed with the quality. I'm putting together 2 folders of them both P and D. They are the Harris 3 page folders where you can not see the backs. My girlfriend is building a set in a Dansco with just one coin per year [not both mints].
    I used to go through 2 or 3 rolls per president just to find 3 coins that were presentable.
    Then my daughter wanted to borrow $300.
    Instead of withdrawing cash from savings I cashed in the rolls. The decision to do that was based on the very poor quality of the coins I was saving.
    Now to keep current with my folders and my girlfriend's Dansco we buy singles at the coin show. I thought that the quality would improve with the rolls now available only from the mint.
    No, the coins are still junk.
     
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  3. green18

    green18 Unknown member Sweet on Commemorative Coins

    Well, the 2009 P & D rolls of William Henry Harrison (mint) rolls still do for stupid money on e-bay........
     
  4. Witty38

    Witty38 Member

    You've got that right, Victor. I've also noticed the quality is marginal. The 2007-2008 ones in the Dansco album are tarnishing already.

    Looks like I have to open my unopened rolls just to find decent ones to keep in the album. But this time, I think I'm gonna coat them with a satin water-based polyurethane so they'll stay bright and clean.
    A dollar sure ain't what it used to be! :yes:
     
  5. rickmp

    rickmp Frequently flatulent.

    But a good cigar is a smoke!
     
  6. clembo

    clembo A closed mind is no mind

    If you like them then buy them. Just don't do it as an investment. Do it because you like it.

    When they first came out we were getting them by the $1000 box at work. Then we'd trade with other dealers. If we had D's we'd trade with dealers East that had P's.

    Sales were pretty brisk in the beginning but it has tapered off substantially. Now we order them from the mint and charge $2 per coin or $40 per roll and they don't exactly fly off the shelves.

    If someone walks into the shop to sell them we'll pay face unless we REALLY need them. We usually don't.

    They DO take up a lot of space and if we see a dealer paying a decent premium we ship 'em off.

    Like I said. If you like them collect them. Do it as a collector not an investor.
     
  7. Witty38

    Witty38 Member

    You're abolutely right, clembo! Most coin shops these days (at least here in the West) have these or sell them basically as a loss leader. They advertise them with banners in the window of the shop just trying to get people in the store. The local coin shop here says that it's mostly older people that buy them for grandkids and the like.

    As you point out, it's not really a matter of liking them for me. I try and use them to get the grandkids to SAVE. But since they're not into these coins, all they do is spend them on candy and toys right away. I try and impress upon them the value of saving, but these coins certainly haven't worked to do that so far.

    I've already decided to open all my old rolls, look for errors and buy/trade them for coins that have some investor value, like the Morgans. At least the Morgans have silver in them to enhance the value.

    Thanks for everybodys input!
     
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