Every square foot of available vault space in the Federal Reserve Banks is almost full with these things. I asked the vault manager at one of them what they thought of these and I thought she was going to spit at me.
I think your investment would be better off in the bank, despite the low interest rates. The designs on these coins are poor to mediocre; the coins are very susceptible to spotting; and most everyone from collectors to American consumers think they suck. When you can barely give away these coins in Proof at face value, that tells you something about collector interest. Furthermore the mintages, until the government stopped making them for anything except Proof and mint sets, were sky high with very few pieces used in circulation.
I have been fascinated by the American presidency from the time I was a child. I collect political items, from the time of George Washington to the present. I even have a set of the mint mini medals in copper that the government sold years ago. Yet, these things do nothing for me. I have a set, but that is only because they come in Proof sets. If they were not in the Proof sets I would not even bother with them. Over the years the gas stations have handed out presidential pieces that were more interesting that these things.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
<< <i>Every square foot of available vault space in the Federal Reserve Banks is almost full with these things. I asked the vault manager at one of them what they thought of these and I thought she was going to spit at me. >>
...when the mint started charging a premium for them that was the end for me.
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
I recall when it started......I agreed it was likely a poor idea unless errors were found.
Now it is more interesting to revisit the question, both from standpoint of what you should do with past coins and secondly what to do going forward.
I'd suggest the following................
For years 2007-2010 I'd break open boxes and only keep the Heads/Tails rolls (50% of boxes) as that seems to be what most roll collectors like to buy. Even with H/T rolls I would only keep the number of rolls that made sense with the value of hindsight.
By doing this you will likely free up 75% of your money and free up a lot of space.
Also on those H/H or T/T rolls you trash be sure to look for missing or doubled edge lettering or other GROSS errors. Typically these occur in groups and if errors are found in the H/H or T/T rolls they will likely be present in the remaining H/T rolls in same relative frequency.
With the money you free up you might consider buying additional 2013 and forward Native American or Presidential rolls as the mintages are now low to the point that there may be some real numismatic value in the future.
Personally I find some of the Native American coin designs very attractive.
You will lose the cost of inflation every year, unless someone finds some error/variety that makes them more valuable and that you happen to inadvertently have in some of your rolls.
How about just a roll of them?
MLAeBayNumismatics: "The greatest hobby in the world!"
Very interesting thread. I was getting a P and D roll from the banks when they were being released as well as buying the proofs. I have the first Dansco book filled and spent the rest. I stopped collecting them when the banks no longer could get them. It was actually a lot of fun for me while it lasted. Reminded me of filling the blue whitman books when I was a kid.
<< <i>Factor in rate of inflation each year eroding away at your initial investment of $1000 at face. I wouldn't do it. Collect a few rolls of each yes but not an entire box. Although I like this series, I don't see much of an investment on these. Lincoln, Washington and Jefferson yes a box would be ok. >>
This. If you have a lot of time on your hand, you could order a $1000 box of each and keep one roll, searching the rest for errors or varieties. >>
You could make a case that all of them are errors.
Gold and silver are valuable but wisdom is priceless.
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible. >>
...DITTO!!
"government is not reason, it is not eloquence-it is a force! like fire, it is a dangerous servant and a fearful master; never for a moment should it be left to irresponsible action." George Washington
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible. >>
Yeah, he was awful. I'd give the crown of most overrated to *drum roll* Lincoln. Yeah, I said it....
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I have been fascinated by the American presidency from the time I was a child. I collect political items, from the time of George Washington to the present. I even have a set of the mint mini medals in copper that the government sold years ago. Yet, these things do nothing for me. I have a set, but that is only because they come in Proof sets. If they were not in the Proof sets I would not even bother with them. Over the years the gas stations have handed out presidential pieces that were more interesting that these things.
<< <i>Every square foot of available vault space in the Federal Reserve Banks is almost full with these things. I asked the vault manager at one of them what they thought of these and I thought she was going to spit at me. >>
I laughed so hard I leaked.
``https://ebay.us/m/KxolR5
...when the mint started charging a premium for them that was the end for me.
I recall when it started......I agreed it was likely a poor idea unless errors were found.
Now it is more interesting to revisit the question, both from standpoint of what you should do with past coins and secondly what to do going forward.
I'd suggest the following................
For years 2007-2010 I'd break open boxes and only keep the Heads/Tails rolls (50% of boxes) as that seems to be what most roll collectors like to buy.
Even with H/T rolls I would only keep the number of rolls that made sense with the value of hindsight.
By doing this you will likely free up 75% of your money and free up a lot of space.
Also on those H/H or T/T rolls you trash be sure to look for missing or doubled edge lettering or other GROSS errors.
Typically these occur in groups and if errors are found in the H/H or T/T rolls they will likely be present in the remaining H/T rolls in same relative frequency.
With the money you free up you might consider buying additional 2013 and forward Native American or Presidential rolls as the mintages are now low to the point that there may be some real numismatic value in the future.
Personally I find some of the Native American coin designs very attractive.
How about just a roll of them?
<< <i>
<< <i>Factor in rate of inflation each year eroding away at your initial investment of $1000 at face. I wouldn't do it. Collect a few rolls of each yes but not an entire box. Although I like this series, I don't see much of an investment on these. Lincoln, Washington and Jefferson yes a box would be ok. >>
This. If you have a lot of time on your hand, you could order a $1000 box of each and keep one roll, searching the rest for errors or varieties. >>
You could make a case that all of them are errors.
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible.
<< <i>
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible. >>
...DITTO!!
<< <i>
<< <i>If I had the money, I'd buy all new the Woodrow Wilson dollars and fly them into the sun. >>
ditto. Woodrow Wilson is the most overrated president in the history of The a United States. But some people greatly admire presidents who were arrogant and inflexible. >>
Yeah, he was awful. I'd give the crown of most overrated to *drum roll* Lincoln. Yeah, I said it....