Presidential Dollar thread.

[GarryN]

Not a bot. The link you have there is to the story on the plain edge Jefferson. What is the point about the "Quality Assurance program"?

Thanks... Gar

[GarryN]

And I hate to burst everyone's bubble about these "First strike" or "Early Release" coins. I have two Morgan Dollars that are the 1878 VAM 9 variety, which is supposedly the first die combination used. I am not sure how Mr. Van Allen and Mr. Mallis know this, but whatever. The reverse die on the die combination failed on the first day, if I recall correctly. That was March 11, 1878.

AND VERY FEW PEOPLE CARE ABOUT ALL THAT.

So my advice is just buy a nice coin. Maybe in 129 years someone will care when it was made.

[notabot]

The United States mint has a longstanding history of being at the forefront of the numismatic world in quality, beauty, and availability. One need only look at the new platinum proofs to recognize that this is some of the US Mint's very best work, occurring at a time when they are also producing volumes of coins never seen in a mint pressing program.
In fact, other nations have also utilized the US Mint to produce their own coins, resulting, wonderfully, in rare American coins struck on "foreign planchets". CONECA is filled with collectors whose principle aim is to ferret out the very best of these mint gems.
I have collected US Mint coins for some forty years, and will continue to do so irrespective of the occasional "cull coin" sent to me by their inattentive associates. I am not one to note a deficiency without also conceptualizing a remedy: there is no point in adressing an issue without having considered the solution. So here it is:

(A) No coin should ever be sent to a collector absent some method of addressing where the defect occurred. Now, however, these coins are sent out without an iota of ability to link the coin with Quality Assurance review.
I propose that all QA personnel be afforded stamp devices, and the coin be certified by that inspector's stamp, either somewhere on the package or inside the poly or plastic proof holder.

(B) The proof and uncirculated coins for collectors deserve to be the best. A general circulation coin is just that, but a premium price should have a higher level of review. There is a method to aggregate lots of coins from the pressmen, and affix a number to that lot. Minimumally, the people at the end of the line culling the error pieces should be able to comfortably put their stamp on their process. No harm, maybe tedious, but it gives the mint an edge on finding die deterioration issues quickly. The Japanese used Demeng QA methodolgy by inspecing the dial indicator accuracy used in their tooling process every fifteen minutes to ensure uniformity. That's why Toyota stole so much American car sale share away- they ensured quality rigorously. We can as well, and the mint will sell HEAPS of additional coins in the process.

In summary, put numbers on the mint products that can be traced to actual processes, and the people doing the job. A simple number is all that's needed to remind mint personnel that we sometimes receive lesser product.

I hope this is a fair appraisal, so weigh in if you either disagree or have a supplemental idea.

[eagames]

I don't think the goal is perfection.
They have no competition

[notabot]

Nearly perfect would be okay for most readers, myself included. Nearly perfect means 75 out of 100 coins is gradeable. That is a good goal, I think.

[notabot]

My Uncirculated sets arrived yesterday, and the sets have a nice Satin Finish. It would appear that the best examples of the Presidential Dollars will perhaps be in the uncirculated sets, but thats begs a question (at least from me):
Will the Dollars from the uncirculated sets command a higher premium because of the exclusivity of the satin finish, or will they be prized simply because they grade higher.
I note that the satin Westward Journey nickels command better prices, so will these be the same?
And if they do grade higher, will folks abandon the circulateds?
I have noted as well that almost no local banks are stocking the Presidential dollars, and there is little buzz about the new issues except for in coin collecting circles.
Is the public staying away in droves because of the appearance of the coins, or is the buzz simply unable to sustain interest anymore?
What say y'all?

[Russellhome]

A couple of Presidential dollar eBay purchases arrived today. I bought a 2007 P George Washington DDR (WDDR-001) a 2007 P Thomas Jefferson DDR (CDDR-001/WDDR-001). For what they cost, I'm pleased. They are bold enough to be seen.





I also bought 2 more minor GW DDR varieties - and those I was less impressed with. But for just a few bucks each, still worth what I paid.

FYI: My local banks loaded up on the GW dollar and can't get rid of them. So they have not ordered any of the more recent issues. The GW rolls I have searched have nothing -- so I resorted to buying these die varieties. The price was right (and I think we have the MN 25c DDR flood to thank for that).

FYI2: Rather than return the dollar coins to the bank, I've made a point of spending them. When I paid with 4 dollar coins at a recent trip to Burger King, the guy thought I handed him a dollar (4 quarters) and just held his hand out for a few moments. I told him to look again - and then he had to show them to his manager before he'd take them. I think we are a long way from acceptance with the $1 coin in the US.

[notabot]

Numismatic news reports a major reverse die crack:

http://www.numismaticnews.net/Default.aspx?tabid=459&articleid=8590&articlemid=1391#1391Articles

This error is in the late June early July shipments. The report was submitted by Ken Potter.

Oh, wait, my sets were all July. I'm still not opening my box, because it just started looking better for resale.

[notabot]

Coin World reports that the U.S. Mint may sell individual proof presidential dollars on their web site, anyone else who has heard this option chime in...

[notabot]

The US Mint has a dazzling array of new Presidential dollar offerings. There are Presidential and first spouse two-packs, individual proof dollars (with a five per household limit) Collector albums for the uncirculateds, uncirculated sets from each mint, with a west point uncirculated eagle (very tantalyzing, given mint history of surprising us with variety in different packaging options)
a set with a sac included, and ad infinitum. Any question as to whether they would sell 2007 in 2008 is answered now, as this stuff mostly doesn't ship until 2008. I like the one-pack proofs, as they are sure to be subject to a higher degree of quality assurance (okay, go ahead and bust my bubble now, ye naysayers )and also the uncirculated sets, very tidy marketing tack. Nothing but kudos for the mint folks this time from me, job done very well from a marketing and collecting viewpoint.

[Russellhome]

Personally, I think the mint has none a littly loopy with all these offerings. I didn't know there were so many ways to sell a dollar for more than a dollar.

I have a number of friends and family who are really into the "State Quarter" thing. I have west coasters send me D rolls and I send them P rolls. I've spoken to several of them recently about the new dollars and none of them are interested in the new series. Perhaps this will change after 2008 when they have nothing new to collect for their State Quarter books -- but for now they could care less.

I have a feeling that many of these new 2007 Dollar mint offerings are going to be available for purchase for years to come -- just like the FDCs and the State quarter 'Partnership Products'. You can still get many of the 1999 quarters in many of these!

The good news is that the prices seem more reasonable, compared to similar products in the State Quarter. When first issued, State Quarter FDCs were $20 -- and the 'Partnership Products' (having only 5 quartes) were $29.

All this said, I will still be a sucker and buy a few of them. My kids like the coins that come with a little color and history printed on cardboard. And since I'm not a real big fan of all these new offerings, they'll probably sell out in a month and be selling at 5 times issue price. That has been my luck with most every mint issued product. I buy what does not sell - and miss out on the hot items.

[eagames]

I think similar to Ken that the mint is a bit nutty with so many items.

My guess is over time most of the products will increase then drop to below the mints sale prices.

[Dick]

I agree with both ED, and Ken, in both, the prices and the nutty way the Mint does business. Also re the State quarters, I am one of those who went at it with the date/roll way. I like them, (with the exception of the WY! That one looks like it has been around as long as the 1909 cents!). They sure "dropped the ball" on that one. yes, I am waiting for the "last five" to come out. IMHO, the State series is 1000% more useful, educational, and contains more beauty, than all the presidential, AND Spouse coins pit together! I like IKES, have a few SBA's, and some SAC's, but NOT one of the Presidents, or their females! Okay, Spouses. maybe they "should include the females"! There maybe some real beauties there! Game tokens, BAH!
Dick

[Russellhome]

[notabot]

Lots of times the mint sells absolute crap at a premium. I received THREE SILVER PROOF SETS that all had a Wyoming error, so am I delighted the coin looks scratched, or send it in for attribution so PCGS can attribute it: "2007 Wyoming, scratched.. pf 59".
So I hope the individually packed Pres proofs are not so blighted.
As for me, I have a box of 100 sets, unopened. In 2012 when they stop selling 2007 sets, it may command a premium...perhaps.