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 Replies: 22 / Views: 3,168 |
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Pillar of the Community
United States
5318 Posts |
 Very good article...and that bears repeating in newspapers, magazines--where their target market reads this stuff. This sort of product marketing is very calculated, and only a few rungs above outright fraud imo (given the claims/prices charged) You see similar scams for low-grade coins in "presentation folders", as well as low-grade gemstones, "limited edition" art, carefully worded ads for so-called "Swiss watches"--anything that manipulates collector fads to drive high margins. Often respectable channels are used to peddle this junk, which lends an air of credibility. Look in the back of "Smithsonian" magazine sometime. I've made a sideline hobby of studying a few of these companies, and actually helped take one down by getting the right people involved, hehe.  Back to that Obama coin--perhaps they had a prior inventory of $1 coins, but how long did it take to line up the art/packaging/production for knocking that one out in time for a victory? Several months I'd guess. So I can only guess that similar companies are spinning together over-hyped packages for the centenary of the Lincoln Cent. Just wait and see...  |
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Pillar of the Community
United States
1767 Posts |
Why would anyone want to spend more then face value for these coins? I personally wouldn't mind having one as a souvenir but I wouldn't go out of my way to buy it myself. In any case, Obama coins is ALREADY on the list to be minted in the future as a Presidential dollar coin, and that's if the Presidential $ Coin Program last that long. May not be in my lifetime but it will be there for the future generations. mila_  |
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Pillar of the Community
United States
6326 Posts |
Anything that Montel Williams stands behind and sells.....HAS to be worth the money !! I saw Montel pushing these Obama coins.......it was touching....  |
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Pillar of the Community
United States
1882 Posts |
Quote:In any case, Obama coins is ALREADY on the list to be minted in the future as a Presidential dollar coin, and that's if the Presidential $ Coin Program last that long. If he is still alive in 2014-2015ish, I don't think so. The program expires when each president has been honored. And a president is not eligible to be honored under the act unless he/she has been deceased for at least two years. Although the Coin Act is vague on whether or not years can go by without any of these coins being minted whilst waiting for the next available president to die...but if you allow for that possibility, the act would never expire (and the act says that it will expire). |
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Pillar of the Community
United States
5614 Posts |
KurtS, I like your attitude!! |
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Valued Member
United States
405 Posts |
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Bedrock of the Community
United States
17884 Posts |
Quote:
but how long did it take to line up the art/packaging/production for knocking that one out in time for a victory? Many months I'd guess. I'd say more like one to two weeks. |
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Rest in Peace
United States
1729 Posts |
I'm going to take just carl's advice and corner the market on these. By the time they're worth more than face value, someone will be selling an elixer on the Health Channel so that I'll last that long and enjoy the profits. Right? RIGHT? lol
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Valued Member
United States
207 Posts |
great article!  I think these companies are making a killing on coins that are over priced and IMO destroy the natural look of the original mints coins. I also think there will be a lot of disappointed people when they take their obama coins into a coin shop 15 years from now to cash them in for BIG MONEY!..  |
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Pillar of the Community
United States
2269 Posts |
The disappointment will probably be similar to when people took their gold "layered" State Quarters to a coin shop in order to cash in. |
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Pillar of the Community
United States
1055 Posts |
I saw those adds circulating on TV, My first reaction was to laugh. You could tell from the add that all it was was pictures pasted on a regular coin. The $1, $.5, $.25 sets are worth $1.75 once cut/paste project is removed. I wonder if Montel got his money back from his monumental offer of galactic proportions.
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Pillar of the Community
United States
2669 Posts |
Quote:The disappointment will probably be similar to when people took their gold "layered" State Quarters to a coin shop in order to cash in.  My gold quarters aren't worth anything?!  |
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Pillar of the Community
United States
3098 Posts |
...so are these being sold? Maybe the profits could be used to fill his massive spending!
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Valued Member
United States
198 Posts |
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I disagree. I suspect that in about 300 to 500 years those coins will double in value, maybe, possibly, might. I can't wait! By then my collection will be worth a fortune so I'll sell it and get rich!  ~ Jim |
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Pillar of the Community
United States
1454 Posts |
No offense but I wouldn't own an Obama coin if someone gave me a million of them for free. I don't want to get into politics but like one of the comic book characters of my youth used to say "Nuff Said".
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Posted 01/09/2009 1:34 pm
