Presidential Dollar the Next Big thing

Georgems65 · August 23, 2006 6:28AM

I think that the presidential dollar program is going to cause another boom in the coin market. The sales and price of coin is going to tripple. Any thoughts

OHMoneyMan · August 23, 2006 6:31AM

I don't think that the Presidential Dollars program will have much of an impact. It is quite different from the Fifty State Quarters program, in that a lot of people saved the quarters that they found in their change. This will not happen with the Presidential Dollars, because few people will receive them in change. I bet that most non-collectors will not even know that they exist, just like the Sacagaweas which have been in "circulation" for six years now.

HonoluluDude · August 23, 2006 6:39AM

I doubt it.

AgMe · August 23, 2006 6:39AM

ok why?

xbob · August 23, 2006 6:40AM

I think the American Eagle Anniversary sets will be the next big thing. They go on sale next week.

HonoluluDude · August 23, 2006 6:43AM

<< I think the American Eagle Anniversary sets will be the next big thing. They go on sale next week. >>

They'll be the "Next Big Thing" until the next "Next Big Thing" comes out from the Mint.
They are pushing their warez like crack, I tell ya.

Georgems65 · August 23, 2006 6:44AM

Look At the State Quarters it doesn't mean much but if it takes off like they did then you got a hit. Plus all the new collectors that are going to want to collect back issue dollars. Not morgan or peace, Ike and SBA will see a rise in sales. They can both be complted for less then 1000.00

Longacre · August 23, 2006 6:47AM

It might help the hobby, but not as much as the quarters did.

HonoluluDude · August 23, 2006 6:49AM

<< Look At the State Quarters it doesn't mean much but if it takes off like they did then you got a hit. Plus all the new collectors that are going to want to collect back issue dollars. Not morgan or peace, Ike and SBA will see a rise in sales. They can both be complted for less then 1000.00 >>

I think the first set of presidents will be a hit, then after that dudsville.

dpoole · August 23, 2006 6:54AM

I think kids, teachers, etc. will get interested in collecting the prez dollars. But in the aggregate, it'll be harder to build up wider-based interests, for the same reason I couldn't keep much stronger than nickels in my Whitmans when I was a kid: too much of a temptation to spend 'em!

AND (where's that dead horse to beat?)...it would make THE difference if they pulled paper dollars at the same time.

kiyote · August 23, 2006 6:55AM

<< I think the American Eagle Anniversary sets will be the next big thing. They go on sale next week. >>

Not to brag, but I've been the kind of person to follow the crowd all my life; I can't wait to jump on this bandwagon, I think we'll see $300 a set before Christmas!

ER · August 23, 2006 6:57AM

I agree with the original poster (Georgems65).

cladking · August 23, 2006 6:57AM

I think there's some chance that the premise is correct. For it to be true they would have to actually circulate
but this seems quite possible with the dynamism in the metals markets. The cent and nickel are virtually cer-
tain to be eliminated as currency within the next year and something will have to take the nickel's place to
make change and the then excess capacity at the mint is likely to be used for something. The dollar is getting
increasingly expensive to produce so circulating dollars are attractive to just about everyone except survey
takers.

Circulating dollars would be likely to have a very high velocity due to their actual utility (value) and the percep-
tion among some that they are too heavy to carry. (a pocket full of pennies isn't though). Should these con-
ditions actually come to pass then there would be lots of SBA's, sacs dated to 2007, and even later dated sacs
all competing with the presidential dollars. These would seem scarce to many people and they might be selec-
tively removed from circulation and difficult issues (like the second year) sought from dealers.

If they don't really circulate they will not likely gain widespread interest.

Georgems65 · August 23, 2006 7:00AM

They will never get rid of the penny and nickel. First they have a bill for 2009 for the penny so thats not going anywhere. If they get to expensive to make they will just change the content to make it cost effective

cladking · August 23, 2006 7:23AM

<< They will never get rid of the penny and nickel. First they have a bill for 2009 for the penny so thats not going anywhere. If they get to expensive to make they will just change the content to make it cost effective >>

I'd agree that there will have to be some sort of 5c coin but we've gotten about
to the point that a penny will cost more than a cent to make no matter what it's
made of. They'll mint 2009 cents but they may be mint and proof set only.

Georgems65 · August 23, 2006 7:27AM

They can always go to plastic like some other countries. The penny runs the retail sector. ex.. Supermarket-3.99lb for for ground meat. No Penny 4.00lb. Consumers will not buy it. I work in the Supermarket industry. the penny going away will drop sales in supermarkets and put alot of them up againt the wall. PEOPLE LOVE THE PENNY

291fifth · August 23, 2006 7:31AM

I'm not sure they will generate much interest outside of the numismatic community. The public won't use dollar coins unless the paper dollar is discontinued.

ElKevvo · August 23, 2006 7:58AM

I think among current (ie: when the prez dollars are started) it will generate interest but other than that I think the fact that the dollar coins do not circulate really hurt. Now if it coincided with a reduction/elimination of paper dollars then yes, then there could be a big impact. One of the items that contribute to my opinion is that a guy I work with got a Sackie the other day and talked about it in a meeting. It was called 'a new type of dollar coin', created discussion that there were going to be no new paper dollars, one person was convinced that it was low grade (10K) gold, etc. Just a lot of misinformation that shows the average person on the street has very limited knowledge of the dollar coin.

Just a couple of thoughts.

K

Coxe · August 23, 2006 8:06AM

It will only create gold-plated, legacy buyer program, cable TV hype. If they issued them from the latest president backwards, they would certainly generate a lot of defacement interest for a while.

Conder101 · August 23, 2006 8:25AM

<< Look At the State Quarters it doesn't mean much but if it takes off like they did then you got a hit >>

Not likely to happen. Why? Well when was the last time you got quarters in your pocket change? All the time right? So if there was a major change in the design you would notice it. And you might hang onto it, maybe start collecting the different one you find. Now when was the last time you got dollar coins in change. (Pause to listen to the crickets.) So the public never sees the new coins, they don't notice them, they don't develop an interest, they don't know to ask for them at the bank because they don't know they exist. In a case like that they aren't likely to become a hit with the public and that was what made the quarters such a success.

<< Plus all the new collectors that are going to want to collect back issue dollars. >>

I admit that the state quarters did cause an increase in the Washington quarter collectors, but only a tiny tiny percentage of the SQ collectors have moved into the older issues.

<< They will never get rid of the penny and nickel. First they have a bill for 2009 for the penny so thats not going anywhere. >>

They WILL disappear eventually. And yes they have a bill for the 2009 cent but nothing says it has to be a circulation issue.

<< They can always go to plastic like some other countries. >>

No country has gone to plastic coins.

<< If they get to expensive to make they will just change the content to make it cost effective >>

There are still a few metals that they can use to make it that would be cost effective but they are disappearing fast. And it won't be too long before the labor cost to make them exceeds the face value. Then you will need a material with a NEGATIVE cost.

<< The penny runs the retail sector. ex.. Supermarket-3.99lb for for ground meat. No Penny 4.00lb. Consumers will not buy it. I work in the Supermarket industry. the penny going away will drop sales in supermarkets and put alot of them up againt the wall. >>

Nonsense. What was that ground meat last month? Last year? I bet it wasn't 3.99/lb. People accepted that and still buy the ground meat but won't stand for it if it goes from 3.99 to 4.00? Did every supermarket go out of business last year from dropped sales and all the ones we see today are all new? No, people will grumble for a week maybe two but within about a month it won't matter at all. Especially since that lb of ground meat will still be priced at $3.99 and after taxes are applied to the total order the final total will be adjusted to come out to the even nickel.

frankieboywonder · August 23, 2006 8:38AM

<< I don't think that the Presidential Dollars program will have much of an impact. It is quite different from the Fifty State Quarters program, in that a lot of people saved the quarters that they found in their change. This will not happen with the Presidential Dollars, because few people will receive them in change. I bet that most non-collectors will not even know that they exist, just like the Sacagaweas which have been in "circulation" for six years now. >>

In my opinion, whether the new presidential dollar coins circulate or not, and they most likely will see only very limited circulation, I believe they will be a gigantic hit with the public.

Years ago, previous to the states quarters and new nickel designs, these dollars would have disappeared into the deepest corner of every bank. BUT, now I feel the general public will chase the new coins right to their local banks.

I have watched demand grow with each new state quarter issue to the point where an individual has to be on a list to even have a chance of getting ONE roll of the new issue. And that includes all the banks in this part of the country, not just my bank.

Regular collectors (serious, full-time, etc) now have to compete with Joe-average citizen, grandmothers, and everyone else for NEW coins, be they the states' quarters, new nickels, or whatever. Even the new currency designs have set off the general public into looking for 'new' issues.

These new dollars may not circulate much, but they will be scarfed up in an amazing amount!

kiyote · August 23, 2006 9:11AM

I think the public is ready and fully capable to reject two different dollar coin programs at the same time.

Georgems65 · August 23, 2006 9:55AM

First off the whole meat thing does matter. Second off working in a grocery store man, peopel are cheap!!!!!!!!!!!!!!!! Also the whole rounding thing people wont go for. "Hey why should i pay Shoprite an extra 4 cents to round my order off" people are not going to pay for something they did not buy. It would cost this counrty million if not billions to round off every persons bank account. Come on now!!!!!!!!! You guy dont give the public enough credit. They will know about the presidential dollar. Also the mint doesnt want them to circulate. This, like the state quarters, is a money making venture. Nothing else

cladking · August 23, 2006 10:13AM

<< First off the whole meat thing does matter. Second off working in a grocery store man, peopel are cheap!!!!!!!!!!!!!!!! Also the whole rounding thing people wont go for. "Hey why should i pay Shoprite an extra 4 cents to round my order off" people are not going to pay for something they did not buy. It would cost this counrty million if not billions to round off every persons bank account. Come on now!!!!!!!!! You guy dont give the public enough credit. They will know about the presidential dollar. Also the mint doesnt want them to circulate. This, like the state quarters, is a money making venture. Nothing else >>

Conder is no doubt right that meat prices will be unaffected because only the
total amount will be rounded off. If the stores did start pricing them in 5c incre-
ments then they'd lower the price to $3.95 so as to look much less than $4.

Think of it this way; the weight in the package isn't exact right now. If the price
is $3.99 then the package will weigh somewhere between .99 and 1.00 Lb. But
.01 pounds of meat is worth 4c in this example so when the consumer is already
losing a nickel who cares about a cent. Or consider that no human being can tell
the difference between .99 and 1.00 lbs of meat. Why does everyone have to fid-
dle around with little worthless coins to even out a deal that no one can see?

Or consider that making the change is more costly than 5c worth of meat. Every
time you or someone in line uses pennies everyone has loses the equivalent of
the coins being exchanged. You might say a few pennies here and a few pennies
there don't amount to much but we are talking billions of them and some get used
several times before they are thrown in the trash.

If the half cent were still around it would be worth more than a nickel in today's
money but it was eliminated as being too little value. If a 5c coin weren't needed
to make change than it, too, should be eliminated.

cladking · August 23, 2006 10:22AM

Or stated yet another way. The store puts what they euphemistically refer to as
"fish" in the case and price it for $3 per pound. A pound of this product is actually
about .4 Lbs of fish, a few grams of a chemical that causes fish to absorb water,
and about .6 Lbs of water. The fish is actually about $7.50 per pound and every-
one who doesn't know it's full of chemicals and water is losing $4.50 when they
buy it.

No one complains. They try to cook the fish and eat the chemicals that remain and
they go back and buy more. Why is anyone going to be concerned when the store
is forced to lower their ground meat to $3.95 from $3.99 ?

Georgems65 · August 23, 2006 10:25AM

people dont like chage. enough about meat and fish this is about prez dollars. They will be a hit and i will be there to collect the money

USCGCraig · August 23, 2006 11:43AM

So who all is going to buy the first wife coins? That is going to be a very spendy set to put together.

Whizzard · August 23, 2006 11:50AM

<< It will only create gold-plated, legacy buyer program, cable TV hype. If they issued them from the latest president backwards, they would certainly generate a lot of defacement interest for a while. >>

Yeah imagine what would be done to Tricky Dick.

Craton · August 23, 2006 12:08PM

<< I don't think that the Presidential Dollars program will have much of an impact. It is quite different from the Fifty State Quarters program, in that a lot of people saved the quarters that they found in their change. This will not happen with the Presidential Dollars, because few people will receive them in change. I bet that most non-collectors will not even know that they exist, just like the Sacagaweas which have been in "circulation" for six years now. >>

I'm very SAD because you are of course correct

Coxe · August 23, 2006 12:49PM

<< 

<< It will only create gold-plated, legacy buyer program, cable TV hype. If they issued them from the latest president backwards, they would certainly generate a lot of defacement interest for a while. >>

Yeah imagine what would be done to Tricky Dick. >>

I imagine a whole new Hobo Nickel type craze with those dollars. Tricky Dick would commonly be carved something like a....er....well...a... Tricky kinda Dick?

HighRelief · August 23, 2006 1:13PM

<< I imagine a whole new Hobo Nickel type craze with those dollars. Tricky Dick would commonly be carved something like a....er....well...a... Tricky kinda Dick? >>

A Gold Buffalo Hobo would be a first.

Coxe · August 23, 2006 1:44PM

<< 

<< I imagine a whole new Hobo Nickel type craze with those dollars. Tricky Dick would commonly be carved something like a....er....well...a... Tricky kinda Dick? >>

A Gold Buffalo Hobo would be a first. >>

Now THAT would be a rich man's hobby. Better collect up those shavings too!

renman95 · August 24, 2006 7:21AM

...only if paper George goes bust or discontinued. The only reason the loonies and twonies made it is because of no paper. But then again Canada is a much smaller country when it comes to population and gov't so it's much easier to institute change on the public.

CaptHenway · August 24, 2006 9:59AM

<< So who all is going to buy the first wife coins? That is going to be a very spendy set to put together. >>

With all this money being sucked out of the market by the Buffalo golds, the anniversary sets and the San Francisco commemoratives, I think we will see incredibly low sales for the "First Ladies" gold coins.
TD

Coxe · August 24, 2006 10:15AM

<< 

<< So who all is going to buy the first wife coins? That is going to be a very spendy set to put together. >>

With all this money being sucked out of the market by the Buffalo golds, the anniversary sets and the San Francisco commemoratives, I think we will see incredibly low sales for the "First Ladies" gold coins.
TD >>

And as detestable as they might be in principle, that might make them a reasonable investment ... much moreso than the gold buffalo.

robertpr · August 24, 2006 10:19AM

Actually I think if the gimmickry from the US Mint, dealers, and TPG's doesn't stop, the hobby will top out and begin a long period of depressed prices similar to the sports card market.

USCGCraig · August 24, 2006 9:57PM

I have this feeling that once the first lady coins have been around for 3-4 years, there will be hardly any sales. Mrs. Millard Fillmore will have a mintage of less then 1,000. I just may have to buck up and get these. I hope they make these coins just in UNC and not proof. I hope they don't give us both finishes to choose from. In that case, UNC all the way for this kid.

aficionado · August 25, 2006 9:26AM

<< I have this feeling that once the first lady coins have been around for 3-4 years, there will be hardly any sales. Mrs. Millard Fillmore will have a mintage of less then 1,000. I just may have to buck up and get these. I hope they make these coins just in UNC and not proof. I hope they don't give us both finishes to choose from. In that case, UNC all the way for this kid. >>

These gold coins are going to be 1/2 oz !!, not 1/4 oz like the San Fran. coin. Priced at $400 each, with 4 a year. Depending how long they keep these up for sale you'll have to buy a $400 coin every 3 month's for the next 10 years and spend $1600 a year. If gold stays at the current price.

Your talking 20 oz of Gold !! That's $16,000 spent over 10 years. Keeping gold at the current price for simplicity.

That's Big money for regular collectors. I anticipate low mintages, whether that makes the coin a collectable down the road is anyones guess.

Presidential Dollar the Next Big thing

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