The Danbury Mint does throw in a few extras for your money. Or, perhaps, by re-selling the coins to suckers. Everybody who gets one keeps it ever since the state quarter series, the only real money to be made is on mis-strikes." "Value is based on scarcity, and there are plenty of these coins being minted, and none of them are being spent. "They may be untouched, uncirculated coins, but they have no melt value they're clad coins with no intrinsic metal value, so you are spending $40 to get $12 worth of stuff," said Harry Rinker, a collectibles expert and the host of "Whatcha Got?", a syndicated radio program. Another is that you are paying $34.95, plus $4.95 for shipping, to get 12 bucks. "That's a $72 value for less than half price." "Collectors are paying upwards of $6 for just one uncirculated presidential dollar coin," the advertisement says in explaining the deal. Mint, removing them from their rolls, encasing them in plastic, wrapping them in hype, and then re-selling them, a dozen at a time. But the Danbury Mint is, effectively, taking coins from the U.S. The new coins are available at most financial institutions, and the Treasury is anxious to get the coins into circulation. In 2010, the honors go to Presidents Fillmore, Pierce, Buchanan and Lincoln. Mint started issuing four new coins each year.
In size and composition, the coins are identical to the dollar featuring Sacagawea beginning in 2007, with George Washington, the U.S. Mint to issue $1 circulating coins, honoring each president in the order they took office. The Presidential $1 Coin Act of 2005 instructed the U.S. The Danbury Mint's pitch - you can find a short version online at, though the company is running a longer infomercial version - is trying to get investors excited about presidential coins.
The column is not intended as an automatic sell signal the good news for buyers of the presidential dollars is their coins will retain their face value, even if we all know that a dollar doesn't go quite as far these days. Stupid Investment of the Week highlights the concerns and conditions that make an investment less than ideal for the average consumer, and is written in the hope that spotlighting concerns in one case will allow readers to avoid trouble elsewhere.
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