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 Replies: 9 / Views: 1,329 |
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Valued Member
United States
189 Posts |
Hi all, brand new to the forum, I really like it so far.I collect everything mostly just trying to fill my books. I put together the Washington quarters 1932-present, the complete Ike collection,Roosevelt Dimes and Jefferson nickel set, and I have many misc. coins and paper bills. But my one real focus has been on the State Quarters. I collected both P+D $10 rolls from each of the 45 states so far (including the first 8 which were very hard to find) So now my question is with the new Presidential dollars coming out would it be a good investment to collect the official $25 rolls from the P+D mints?
Also do you all think that the official First Day Coin covers would be a good idea because only Washington and Adams have come out so far but both sold out completely of 50,000 at the Mint?Thanks so much for helping me out and I'm glad to be here! |
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Pillar of the Community
United States
819 Posts |
From two points of view- yes and no. :)
Yes, If you're collecting them just to have them, and want the sets, then get them.
No, if you're just buying them to realise a profit from them later. The Pres. Dollar coins aren't going to be worth much any time in the near future. They're being hoarded, and not circulated, so none of the coins are being diminished quickly. They're all going to be pristine, UNC condition. Too many people are buying them with the misconception that just because it's the first coin in a series, it's going to be worth money.
The good news is, it'll always be worth a dollar in the US.
The first day covers may be worth more than rolls of the coins. I can't really answer that one, as I'm not that familiar with the product. I tend to stick more with coins from overseas. >.>
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Pillar of the Community
United States
2269 Posts |
Welcome to the forum, The first day coin covers are probably not going to be worth that much. There are plenty of first day coin covers for both Adams and Washington, on the Internet now. I don't think either is fetching more than the original issue price. I would avoid them as an investment. If you like them as a collectible, then you should purchase them. The Presidential dollars have such a high mintage, I don't see their value in rolls increasing too much. Personally I am saving 1 Philadelphia bank roll for each president. I'm collecting them not as an investment. The one rule about coin collecting I follow, is collect what you like. |
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Valued Member
United States
57 Posts |
I grabbed some rolls of the first 2, on the off chance they remove the edge letter like the House wants (I doubt the Senate will pass the same bill tho...) If they stay the same, I will break the rolls open and just spend them, since I agree with the above that they are very unlikely to appreciate at a rate higher then the same money in a CD or other investment account.
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Valued Member
United States
314 Posts |
On those dollars . I been buying bu rolls those from bank to save them in h and l string wrappers. The problem with those you cant read the mintmark on them in wrapper. Most dealers want 35 to 39 bucks an roll on them. I been trying get those p dollars for my collection of d dollars . I may try to buy 50 proof sets to take apart for rolls on them. Reason my goal in next few years is build 50 books out my rolls of coins someday. To tell you truth I dont know if they will ever be worth anything since the us mint is making over 3 million dollars per day after reading some press release someplace. They may make billions of those coins in next few years for what I read . Dont ask me why it may fail like 2000 or 2001 sacs or susan dollar did. The peaple just dont use them and its seems they onley they get hoarded or saved . My dollars was hard get from banks since they onley ordor one 1000 dollar box at bank for the intire public. If you want collect dollar coins. I would be buying 2002 thru 2007 sac dollars since they are not being sold to banks. 2003 is an expensive year on those. Check ebay for those sacs dollars you will see what I am saying. Chevrolet454ss |
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Valued Member
United States
367 Posts |
i dont think the presi dollars will be worth much and I dont like em just figured being 17 why not eh? I never collect anything that I think will bring more money in because I usually buy the wrong stuff!
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Member
United States
3242 Posts |
If they change the way the pres dollar are made and put IGWT & date off the rim the 1st 4 should have some type of premium.
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Bedrock of the Community
United States
20753 Posts |
As already noted if your thinking of a future profit hoarding those things, forget it. If your doing it for fun, great.
Many, many years ago the Mint came out with something called the
Bicentennial Quarters. A friend of mine and myself went nuts collecting them for a the future, fantastic, great profits. After over 30 years I took many of mine to a coin show and asked how much would anyone give me for them. Most said $0.24 more of a joke meaning NO ONE wanted them. I ended up with several hundred dollars worth to the bank. My friend had a few thousand dollars worth also taken to the bank.
The moral is in 30 years, those will be worth $1 each, MAYBE.
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Pillar of the Community
United States
2764 Posts |
I agree with everyone about the fact that the appreciation rate of the Presidential dollar is worth anything more than the face value (ie: $1, but the actual value maybe less, if you consider the inflation rate is 3% right now). As an investment, if you can't beat the inflation rate then it's not worth your time. Which mean, if you really, really, really like the Presidential dollar then you may consider buying those slabbed coins MS/PF 69 or 70............... and then wait for maybe 10 years (after the Presidential dollar program is over)........... before you can see the return of your investment (ie: net profit - inflation). Buying rolls of coins with a $10 premium per roll is not really an investment! Good luck and have fun collecting. |
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Valued Member
 United States
189 Posts |
Thanks so much guys I have called off the idea and am just going to stick to filling my books!
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Replies: 9 / Views: 1,329 |
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Posted 09/09/2007 9:58 pm
