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 Replies: 9 / Views: 1,299 |
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Valued Member
United States
246 Posts |
I wanted to ask veteran collector's what you thought of this deal. I recently subscribed to getting all of the presidential coins in sealed 12 coin vault tubes from(please don't laugh) the World Reserve Monetary Exchange.  I read reports that they try to scam people, but looking into this deal, I didn't think it was bad at all. You get 13 coins of all 40 pres's(520 total) for like $900. The coins come in the sealed vault tubes w/ one coin in it's own plastic case for display. It comes out to about $1.73 per BU coin. Now, if I bought from the MINT, the rolls of 25 cost $40. That's $1.60 per coin. However, I can't display but the ends of these rolls since they come wrapped from the MINT. I reserved my first shipment yesterday, and I'm now contemplating whether or not I should keep or return and end my order. The coins look really great, but I like to think I'm not gullible at all, and I think this may have gotten the best of me. What do you guys think? Thanks so much for helping out the new guy. This site is really great! Thomas Edited by thomas_z71
04/04/2007 09:04 am
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Pillar of the Community
United States
675 Posts |
Does your local bank have rolls of the Presidential dollars? A lot of people have been able to buy new rolls of them at the local bank for face value. If they aren't available at the bank, then I don't think that the $1.73 price/coin is that bad for BU coins. Since it's not much more than buying them from the mint, if you like the display better it sounds like an ok deal for you. |
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Valued Member
 United States
246 Posts |
Thanks Thunder, and yes, my banks here have a few rolls which I have, but I don't have vault tubes nor a seal to assure others that they are BU just in case I have to sell later. Luckily, my order contains all P coins, and being here in Dallas, I get the D coins so i'll have both sets, just one is in the bank rolls, and one is in the 12 coin vault tubes. I figure the 40 tubes and the 40 individual holders prolly aren't cheap so I didn't think it was a bad deal. NOW, the display case DID NOT come w/ the order. It's an additional $140, it's a very nice looking wood case w/ a display for the individual coins they send you, and then two steel boxes to display the vault tubes. I think that is also worth the money, but that's another subject. I don't think I could make one for any less. Anyone else have any thoughts? thanks so much!
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Pillar of the Community
United States
4867 Posts |
I wouldn't support the Coin Vault. They are crooks taking advantage of the uneducated collectors. They are a disservice to the coin community.
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Pillar of the Community
United States
1173 Posts |
In the end this is a purely subjective and personal decision.  The price you're paying isn't exceptional, and there is a convenience factor to build into the equation. You don't have to do much to get these coins except pay for them on a regular basis. No trips to the bank, or to a dealer, etc., etc. If that is worth something to you, then it helps ameliorate the cost of the coins.  So...go for it (well, you already have) or not. Neither decision is a bad one, depending on your wants and needs. |
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Valued Member
United States
246 Posts |
thanks guys, and NDS, I can totally see your point, they try to make themselves sound like a gov't entity, and then in small print they make sure to state that they have no affiliation. I think they got a really bad rap for selling those uncut $1 bills, I think you got four of them, but you had to buy the book for them which was $38 so you paid like $50 for four uncut ones and a cover for them!
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Valued Member
United States
270 Posts |
Here's a pdf advertisement for that set of coins: http://www.saljournal.com/webeditio...052007/7.PDFThe point would be: How much on top of the $900 will be charged in postage? These coins are issued four per year for at least 9 or so years, so you likely won't receive a single delivery at the end of all the coins, you would be sent one thirteen coin "roll" at a time, over time. They may charge $4.95 postage per "roll" or more. Edited by edix
04/04/2007 11:23 am
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Forum Mom
 United States
5877 Posts |
I agree. The postage could kill the value of this deal.
As far as supporting Coin Vault, if they actually do come up with a "deal" which would be few and far between, I don't think we should advise people not to take advantage of it. Let's face it folks, Coin Vault is here to stay unless some of their customer put together a class action suit for their representation of their coins (the gold-plated "BU" coins leap to mind.) Personally, I can't watch Coin Vault long enough to see if there is a deal since it makes me so angry at the thought of uneducated collectors believing everything they say. In this case, however, we are talking about an educated collector who is well aware of what is being purchased.
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Valued Member
United States
246 Posts |
actually it was $888 w/ all shipping and everything, then the display case is $148, but I haven't purchased that yet b/c I was going to see if I could find something cheaper. Thanks a ton for all the feedback. I'm going to keep the shipments coming. One big deal for me is the fact that they are the P coins, and either way, I'm going to have to go out of my way to get those P coins if I didn't get them from here you know?
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Valued Member
United States
270 Posts |
In the words of famed numismatist Anthony Swiatek, buy these types of coins only for their enjoyment value, for they will not likely appreciate monetarily in any sense over what you are paying for them.
Collecting should be fun, so have fun!
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Replies: 9 / Views: 1,299 |
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Posted 04/04/2007 09:40 am
