Presidential dollars worth collecting
The new dollar coins were released yesterday and can be purchased for the reasonable sum of one dollar at your local bank. The news media has covered this event extensively. Here is a taste of the coverage.
Will the new coins make South Korea rich? The schedule of their release The minting process has begun You can buy them at Old Pueblo Coin in Tucson, AZ A bank in downtown Cedar Rapids, Iowa has them too. Rocky Mountain Coin is giving out 2,000 of them.
And finally, here is an article by David C. Harper about the collectibility of the new coins.
Will the new Washington $1 coin make me rich? Will it be rare?
Most assuredly it wonÂ’t make you rich. However, the limited window of availability could give the new $1 coin some extra collector value when its three months in the spotlight are over and the John Adams coin arrives.
LetÂ’s do the math and see what you think. There are 300 million Americans. The Federal Reserve, master of the U.S. banking system, has ordered 300 million Washington coins. ThatÂ’s just one coin apiece.
However, the coin will be struck at both the Philadelphia and Denver Mints. That means there are just 150 million people who can get the two-coin set. Do you think that will be enough?
There are factors on the other side. New coins tend to be saved. This helps assure a supply for future generations and tends to keep prices lower than for coins in their second year of issue.
But wait. There wonÂ’t be a second year of issue. ItÂ’s just three months. People one or two years down the road might miss this opportunity and need to go back and buy them to complete their Presidential sets. Who will they buy them from? That just might be you.
Read the rest of the article.