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 Replies: 22 / Views: 3,159 |
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Bedrock of the Community
United States
14454 Posts |
saw this on msnbc.com and figured I would share with you all even though I know most of the people here already know about this type of thing someone just lurking may not know the facts. here is the link http://www.msnbc.msn.com/id/28538944/ |
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Moderator
 United States
23481 Posts |
Valuable article on "non valuable coins" (my term) a must read for new collectors.
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Pillar of the Community
United States
1807 Posts |
 often wondered that myself. Good article, thanks Bryan1315 |
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Pillar of the Community
United States
2269 Posts |
Good article, it gets right to the point.
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Moderator
United States
187702 Posts |
Thanks for sharing the link!  I am glad that someone outside our Community is spreading the news that these offerings are less than worthy.  |
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Moderator
 United States
6563 Posts |
Quote:
The colorful Obama medallions might be the way you want to save this memory. Just don't get swept away by the patriotic hype. Score one for the numismatists!  |
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Valued Member
United States
270 Posts |
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Bedrock of the Community
United States
20753 Posts |
I disagree. I suspect that in about 300 to 500 years those coins will double in value, maybe, possibly, might.
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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
5604 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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Replies: 22 / Views: 3,159 |
Posted 01/09/2009 10:02 am
