Posted 04/21/2007 8:20 pm
Hi penguinfan and welcome to the forum! Lots of friendly folk here with incredible experience and expertise.
Presuming you're not pulling our collective legs and actually paid almost $11 (44%) over face value (I hope shipping was included in the price), you could have obtained a roll for $25 at a local bank. Granted, not all banks are carrying the GW dollars and a few that do may charge a "rolling fee" of a few cents, but these are minted as circulating currency, so 300 million were struck. An unopened roll may see its value increase slightly above face value in one or two generations down the road, but for the next few decades, the roll will be worth $25.
Where one might realize a return and gain on one's investment is if one of the dollars happens to be one of the tens of thousands with a smooth edge. However, the real value of such a coin is while it's within its original unopened roll in which the mint can be determined from the other coins. A friend of mine in an email coin group happened to submit a number of unopened rolls to PCGS for grading and slabbing. One coin happened to be a smooth edge and thus it was determined that it was a Denver minted dollar and that is how it appeared on the encapsulation. He received almost $1000 for it on ebay. However, this is the exception rather than the rule. It would be a real gamble to buy enough rolls and submit them as rolls to a top TPG in the hope that one dollar (out of a thousand?) would be a smooth edge. It also doesn't seem to me worth the grading fee to have a few dollars graded and slabbed when any resale in the next three to six decades wouldn't recover the price of grading. I do not see ordinary uncirculated GW dollars becoming collector coins at anytime in the near future. YMMV.
Presuming you're not pulling our collective legs and actually paid almost $11 (44%) over face value (I hope shipping was included in the price), you could have obtained a roll for $25 at a local bank. Granted, not all banks are carrying the GW dollars and a few that do may charge a "rolling fee" of a few cents, but these are minted as circulating currency, so 300 million were struck. An unopened roll may see its value increase slightly above face value in one or two generations down the road, but for the next few decades, the roll will be worth $25.
Where one might realize a return and gain on one's investment is if one of the dollars happens to be one of the tens of thousands with a smooth edge. However, the real value of such a coin is while it's within its original unopened roll in which the mint can be determined from the other coins. A friend of mine in an email coin group happened to submit a number of unopened rolls to PCGS for grading and slabbing. One coin happened to be a smooth edge and thus it was determined that it was a Denver minted dollar and that is how it appeared on the encapsulation. He received almost $1000 for it on ebay. However, this is the exception rather than the rule. It would be a real gamble to buy enough rolls and submit them as rolls to a top TPG in the hope that one dollar (out of a thousand?) would be a smooth edge. It also doesn't seem to me worth the grading fee to have a few dollars graded and slabbed when any resale in the next three to six decades wouldn't recover the price of grading. I do not see ordinary uncirculated GW dollars becoming collector coins at anytime in the near future. YMMV.
