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Couldn't Resist... Presidential Dollars

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Valued Member

United States
284 Posts
 Posted 01/30/2009  11:18 pm Show Profile   Bookmark this topic Add christian_cyclist to your friends list Get a Link to this Message Number of Subscribers
For all of my tough stance on the US Mint producing too many modern series of coins, I broke down and decided to begin collecting Presidential dollars. The series is just in its infancy so it's easier to start now than at 2012. My reasons are varied. I think there could be some value in a complete set, but probably not much more than face. A complete set would make a great gift to my children and my nephew. Plus, opening up a fresh roll from the US Mint sounds like fun! Since my local credit union does not offer coins of any kind in any quantity (I tried - twice), this is the closest I will get to coin roll hunting for a while. Ughh!

(I'm on the slippery slope down, aren't I?)

So now I have a roll of Washington-D coins in a US Mint wrapper. I got the roll from ebay. The roll was in it's original US Mint box too. Is there any special way to open the roll that minimizes the coin sloshing and damage caused by the slosh? I'm figuring I will need to clean these coins in acetone to remove the machine oil.

-- Boris
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Elimist's Avatar
United States
632 Posts
 Posted 01/31/2009  03:35 am  Show Profile   Bookmark this reply Add Elimist to your friends list Get a Link to this Reply
I like the Presidential dollar series because its a series because it is fun to go to the bank and buy a roll whenever a new president comes out. I keep two of the best examples for my collection and then spend the rest. At face value for the coin how can I go wrong collecting it? I also think that just like with the State Quarters it will be a fun set to have complete, and unlike the State Quarters, there's less popularity for this series so less people will have complete sets.

As for opening the roll in a way that doesn't damage the coins? I wouldn't spend to much time on it. The Presidential dollars I've pulled out of rolls aren't in high MS states or anything like that. Quite a few scuffs and bag marks. The sloshing that will occur unwrapping the roll will cause insignificant damage in my opinion.
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steve199's Avatar
United States
1882 Posts
 Posted 01/31/2009  03:48 am  Show Profile   Bookmark this reply Add steve199 to your friends list Get a Link to this Reply

Quote:
I think there could be some value in a complete set


Keep in mind that a set of coins is (generally) not worth more than the sum of its parts.


Valued Member
United States
284 Posts
 Posted 01/31/2009  09:46 am  Show Profile   Bookmark this reply Add christian_cyclist to your friends list Get a Link to this Reply
Really? So it's like a car then? It's better to part it out than to sell it whole sometimes.

-- Boris
Valued Member
United States
193 Posts
 Posted 01/31/2009  09:54 am  Show Profile   Bookmark this reply Add jewellge to your friends list Get a Link to this Reply
Try the US Mint direct ship program, they'll send you $250 in Presidential dollars for $250, free shipping. I keep them by rolls so I'll put a roll away and then go pay the CC bill with the rest of the rolls. No guarantee of mint marks, but if you are searching the rolls you can try and find the one's you are interested in.

http://catalog.usmint.gov/webapp/wc...ntifier=8100
New Member
cnickle's Avatar
United States
16 Posts
 Posted 01/31/2009  10:01 am  Show Profile   Bookmark this reply Add cnickle to your friends list Get a Link to this Reply
I do like the presidential coins myself because of the U.S. history they allow us to see and explore. Most of these types of releases do not interest me, but the presidential coins have. Value wise I certainly don't expect much.
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wif99's Avatar
United States
377 Posts
 Posted 01/31/2009  11:23 am  Show Profile   Bookmark this reply Add wif99 to your friends list Get a Link to this Reply
I have a Presidential Set Mainly because I open a Mint Set Each year to keep my other sets up to date,
and needed a place for them So I bought another Dansco. I do believe the coins from the mint set looks much better
than any I have seen from rolls
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steve199's Avatar
United States
1882 Posts
 Posted 01/31/2009  11:28 am  Show Profile   Bookmark this reply Add steve199 to your friends list Get a Link to this Reply

Quote:
Really? So it's like a car then? It's better to part it out than to sell it whole sometimes.


Don't know if I'd make that comparison, because each coin runs fine on its own. But a muffler won't get you to work.

Each coin has a value, even if it is face value. Putting them in a group does not increase that value, but it might decrease the value of the group because you'd be forcing the buyer to buy other coins they may not really want. But selling/buying a group of coins does have its advantages (lower transaction costs).

There *might* be certain situations where a set of coins would be worth more than the parts. Such as if you own the *entire* set of known coins. Wouldn't that be something if one person owned all 5 1913 Liberty nickels?

Coin collecting should be fun, and completing sets is one of the fun aspects to the "collector" mentality.



Edited by steve199
01/31/2009 11:29 am
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rockdude's Avatar
United States
1807 Posts
 Posted 01/31/2009  11:28 am  Show Profile   Bookmark this reply Add rockdude to your friends list Get a Link to this Reply

Quote:
Really? So it's like a car then? It's better to part it out than to sell it whole sometimes.

Or try building a car from parts, very expensive.
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mfhorn's Avatar
United States
959 Posts
 Posted 01/31/2009  11:29 am  Show Profile   Bookmark this reply Add mfhorn to your friends list Get a Link to this Reply
I've been collecting the $1 coins, but they have always reminded me of something you would get at Chuck E Cheese. There just isn't any detail in them like other denominations. I don't care for the gold color, and especially don't like the edge lettering; makes them look even cheaper. The only time I have received one in change since 2000, was a bank. I got $17 in halves and $3 Presidential dollars for a $20 bill. These coins will never fly until the dollar bill is taken out of circulation.
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steve199's Avatar
United States
1882 Posts
 Posted 01/31/2009  11:30 am  Show Profile   Bookmark this reply Add steve199 to your friends list Get a Link to this Reply

Quote:
Or try building a car from parts, very expensive.


You just said in 9 words in what I said in...well...I won't count em.
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eaglefoot's Avatar
United States
6326 Posts
 Posted 01/31/2009  11:48 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list Get a Link to this Reply
I too have been "collecting" them. I guess just for the fun of it and for a nephew maybe or girlfriends daughter.
I have been getting a roll from the bank every time a new President comes out. I get some "singles" too, so that I can keep two folders and one album up to date.
But, I also get the Presidential Dollar Proof Set each year from the U.S. Mint. With this I intend to "crack" the Set and put these into my album at some future point. This way, at least, I'll have a completed album of "Proof" quality coins to maximize any collector value in the future. This would be more valuable (though beit small to begin with) than the "bag marked" rolls that are easiest and the less costly way to get them.
They're just going to be scratched up with contact marks any other way than getting "Proof" coins. But those albums will suffice for kids wonderfully.....so those that I put together will be just for fun.
This Presidential Proof Set is included with each Silver Proof Set each year, but I didn't want to seperate it from that Set, so I also order the Presidential Proof Set separately from the Silver Proof Set.
To each his own on that idea if you want to make a "Proof" Presidential dollar Album versus one culled from rolls at a bank or two roll sets which will have the dreaded/rough handled "bag marks".
Edited by eaglefoot
01/31/2009 11:56 am
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Dollar1948's Avatar
Canada
636 Posts
 Posted 01/31/2009  2:40 pm  Show Profile   Bookmark this reply Add Dollar1948 to your friends list Get a Link to this Reply
I live in Toronto, but I collect them, both mints, just like I collected the State Quarters, both mints. The State Quarter collection started during all my travels down there for business trips back in 1999 to 2005. I kept them all and finally decided to organize them all. I kept the best, took the rest to a coin dealer and made some deals for the ones I was missing.
The presidential's I'm buying from a dealer for 2 bucks Canadian a piece,so they are cheap enough. Who cares if they don't go up in value,I just enjoy looking at them, and investigating online why some of Presidents on them were only in power less than a 4 year term.
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Hollywood's Avatar
United States
1228 Posts
 Posted 01/31/2009  2:51 pm  Show Profile   Bookmark this reply Add Hollywood to your friends list Get a Link to this Reply
I had no choice in collecting them because they came with the 2007 u.s.mint silver proof set that I needed so I will probably continue with them as long as they come with the silver sets in the future,but I think they made the silver set in 2007 and on go up in price to like $38 a set when they were only $32 a set prior to 2007
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jbuck's Avatar
United States
187702 Posts
 Posted 01/31/2009  10:35 pm  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Keep in mind that a set of coins is (generally) not worth more than the sum of its parts.
I generally agree with this; however, I will offer a counter-point for consideration.

This usually happens because of the key dates in the set. Coin dealers often buy a complete set knowing they can quickly sell the keys; therefore, they pay accordingly for the set and often give little (or any) value to the common dates.

There probably won't be any key dates in the Presidential dollar series; only time will tell. While there might not be a premium for a complete set, I do not think its value would be any less than the sum of the parts. Which, for anything but proofs, is probably face value. This theory may or may not hold up for proof coins, which can be fickle when it comes to resale value.
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jayceeg's Avatar
United States
114 Posts
 Posted 01/31/2009  11:08 pm  Show Profile   Bookmark this reply Add jayceeg to your friends list Get a Link to this Reply
I have picked up a roll of each the pres. dollars at the bank as they come out.I have not opened any of them. Would it change the value of the roll if I opened them, especially the years that had known errors? JC
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