How Does One Purchase Mint Condition Coins?

SOTU

Hello, I am somewhat new to coin collecting and new to this board. I was hoping you could help me with some questions. I am highly interested in purchasing the new 2007 presidential dollars but have some questions first. My goal is to purchase them in uncirculated mint condition meaning straight from the mint press to me (rolls or singles). Is this possible? Any suggestions? I really want to have these in mint condition. Never touched by human hands. That way I can then send them to one of the major grade companies and have them graded and sealed MS70.

I know the us mint is offering to sell rolls starting tomorrow but in their frequently asked questions I noticed it stated the following:


Q. What is the condition of coins sold in bags and rolls by the United States Mint?


A. They are circulating coins, which typically show bag and handling marks.

If I can not get them in mint condition from the us mint themselves then how can I? I really want to collect these coins but they must be in mint condition. How do most coin collectors land them in mint state?

I guess that is my main question. How do most coin collectors land them in mint state?

Please advise,

SOTU

coinmickey

Welcome,

You can buy the Mint sets (uncirculated and proof) that the US Mint produces each year. That should enable you to avoid the bag/roll dilemma.

fastrudy

You get four rolls from the bank at face value. Look through each one of them and pick out the best. The one with no discernable defects, or a minimum of defects. This is the cheapest way of finding a mint state coin.

Coinhog

Even with untouched coins directly from the mint (annual mint sets or proof sets) there is no guarantee that you will get an MS70 coin. In fact, you have the odds are greatly stacked against you that you won't. Case in point, I think out of billions and billions of lincoln cents that have been minted over the last 98 years, only ONE, UNO, has been grade ms70 by pcgs.

BRdude

For "business strike" coinage, it will almost be impossible to guarantee no mark coins. Even those in mint sets are nonrmally struck and handled (although I believe they are gloved when they handle them) Most sets are nice, but undoubtadly some will have some marks from the normal minting and handling process. The proof sets are another story. They will be specially minted and handled to be SUPER nice, but they aren't the circulation coinage.. Same thing, but proof condition. If you truely want nice coins (not that you can't get them from rolls if you get lucky) but the truely nice ones will be in mint sets or proof sets (as was stated above)
Good luck, we are all in the same delima
Now sotu, if that is your pic, you look a little young to be posting on messageboards Oh and to the boards

NeoStar

Definitely Uncirculated or Proof Sets from the Mint. Welcome to the boards!!!

mirabela

You seem to be asking how to get coins straight from the dies to your hands, and there just isn't a way. The best you can do is a coin that has been dumped into a hopper and jostled about, run through counters and rolled or maybe weighed, bagged, and trucked, etc. -- you get the idea. About the bet you can do is *minimal* bag marks, but a coins w/o any marks at all just isn't going to happen.

NowhereMan

Does anyone know for a fact whether the 2007 mint sets will have Satin Finish Presidential Dollars? I rekkon so...

If so, then SUTO still doesn't get what he would from rolls and bags by buying the sets.

For each president, a COMPLETE set would include 5 coins:

S Proof
D Business Strike
D Satin Finish
P Business Strike
P Satin Finish

I'd say your best bet for getting slabbed business strikes is to let someone else do the lottery, and then pick up a nice 65-66 coins on eBay for your collection.

2 tips: (1) DON'T buy in the next 120 days -- mania will drive prices to unsustainable levels and DON'T chase the 67, 68, 69 grade business strikes -- the money will get crazy, and IMO it's just not worth it.

So, my plan for each year, to keep complete without spending more than I need to, and without ending up with a lot of extra coins. (1) Buy 2 each of the complete Mint set and Proof set (something I always do anyway). One to keep in OGP and one to crackout if I ever choose to submit. (2) Buy the P&D Business strikes already slabbed at 65, for a reasonable price once the mania dies down. (A reasonable prince, here, means around the grading fee.)

Just my thoughts...

Rex

marxbuff

Heres a deal no one can pass by
on the Presidential $1 Coin Proof Set


To the boards!

RichieURich

to the boards, SOTU! Enjoy!