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 Replies: 20 / Views: 2,661 |
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Valued Member
United States
164 Posts |
(Whoops, I think I made this thread in the wrong section, Can a mod move this thread to the united states coin section for me please? (Sorry  )) Has anybody seen those annoying common ads lately for the "Barack Obama presidential coins" that have been running on nearly every channel? (If you have no clue what I'm talking about, I found one of the ads for the coins on youtube, http://www.youtube.com/watch?v=p7I4YeVGrCQ ) When I first saw them, I thought to myself that it might be collectable, This is one of the most historic events in U.S. history after all, but then I looked at the coins closely and noticed something... They are just dollar and State Quarters, with crudely made Barack obama stickers slapped on them. (At least thats how they appear.) And further research reveals that they come with a "certificate of authenticity", that quite litterally says that the coins that were used were legal U.S. tender. Yep.  The coins average commerical prices are 19.95, for coins that are, and probably will never be worth more then 1.50. I wonder how many people are being fooled into thinking they have something thats going to grow in value. Edited by JOE
01/18/2009 05:26 am
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Pillar of the Community
United States
2661 Posts |
Quote:
I wonder how many people are being fooled into thinking they have something that's going to grow in value.
LOL.......You would be surprised. I know a lot of people who do not collect coins.....well maybe they find a Buffalo nickel in their pocket change and throw it in a Tupperware container and call that a collection.....buying these things up left and right. An elderly gentleman that works with me told me that I should get get them and told me that the flea market over in the town a few miles down the road had them for $10 each!! A much better deal than on those print and tv ads. I just didn't have the heart to tell him they were all but worthless. I just smiled , said Oh really? and then I said I 'll have to get over there then. And my bro-n-law, that fool buys all that crap, Bradford exchange, CSN, and now at least 1 of every different Obama $ being forged. That dummy even ordered a stuffed Pheasant to hang on his wall. "It'll be worth a lot more than I paid for it someday" he says. |
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Pillar of the Community
United States
1429 Posts |
This is the only president that has a coin made before he takes office. Unreal.
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Valued Member
United States
462 Posts |
There was NO coin made for this person. There was a STICKER made for this person. I saw similar stickers stuck on the back bumpers of beat up old Subaru's last year.
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Moderator
 United States
16679 Posts |
No comment.
swcoin.ecrater.com
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Valued Member
United States
442 Posts |
It's callled making a buck folks.
We have people coming in to the shop asking for them. It's hard to get it into their heads that these are NOT produced by the U.S. mint and we have no intentions of carrying them.
It did help us move a lot Washington Dollars and Illinois quarters though. The people that sell this stuff needed those coins and were paying top dollar.
We dumped nearly 3000 of the dollars and darn near every roll of Illinois quarters.
I figure in a year or so we'll have people coming in to sell these and they'll be disappointed when we offer face value if we offer to buy at all.
The same folks that buy these also have a tendency to not understand why a business doesn't want a bunch of idle inventory laying around.
This tends to happen with any colorized coin that hits the media.
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Pillar of the Community
Canada
1082 Posts |
The ad copy is usually deceptive to start with, but most people who order these things are not savvy enough to know that they're being had. It's junk. Period. Reminds me of the "Elvis Dollar Bill" that came out after he died. By the way, I have this exclusive, limited John Wayne Tribute Dollar Bill that came out in 1979, good ole U.S. Legal Tender! Anyone interested?  |
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Pillar of the Community
United States
819 Posts |
just goes to show that ole' P.T. Barnhum was right, there is one born every minute (or was it every second?)
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Moderator
 United States
6563 Posts |
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Bedrock of the Community
United States
20753 Posts |
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Pillar of the Community
United States
1179 Posts |
This was on the local news tonight warning everyone that these are not investment coins and are pretty much worthless. But still, there are too many people that are really dumb with their money that it doesn't matter, its out there and people will buy them....too bad for them in like 10 years.
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Rest in Peace
United States
2668 Posts |
As long as they have bought into a bill of goods, it might as well be hook, line, and coin.  |
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Valued Member
Canada
159 Posts |
Yeah, that coin looks so cheap. It reminds me of PoGs... it's like an "Obama Slammer".
I wouldn't doubt that it will become a collector Item, crap or not, it's still historic. I live in Canada and have seen those Obama coin ads... Here's the pitch when comes to sell in 20 years, "Yeah, remember those commercials for that Obama Coin? No? Well, ask any collector and they will tell you about it."
2 million at the Obama speech and millions watching around the world. Obama-Pezz would sell.
Edited by Coinage
01/22/2009 03:56 am
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Valued Member
United States
164 Posts |
There was an ad in yesterdays paper offering gilded two dollar bills (the bicentennial type). If you didn't read carefully, you would think they were official currency issued by the treasury. Anything for a buck I guess.
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Moderator
United States
23522 Posts |
MODERATION: Please keep any potential political commentary to a minimum (as in, I can't see it when I read the thread).JOE, I think you got the proper forum for this one. Y'all are welcome to hate on the coins, just not the personalities. 
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Pillar of the Community
United States
5318 Posts |
I agree with others--I see little lasting value for stickers slapped on coins.
One core issue I see is longevity of materials used. Then there's the level of artistry/craftsmanship involved, which plays a part in value too.
Say a high-relief bronze medal was made with the same artistry V.D Brenner did for Lincoln. A medal like that has a much better chance of being a historic memento with some lasting value.
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Replies: 20 / Views: 2,661 |
Posted 01/18/2009 09:50 am
