What to do with hoarded dollar coins?

[zerocd]

I hoarded jars of Eisenhower’s, just business strikes, when I could find them and also collected new rolls of the various “gold” dollar coins both presidents and Sacajawea’s.

I have wanted to add to the stack after silver’s drop from the 40’s and will always get gold if the price is right but have been unable to, all my contracting income has been out during this pullback.

So this week I remember the piggy banks, which I might have kept for possible future value and collection. I just hoarded them, in case, you know, and not just because I am OCD afflicted or anything...

So, I was thinking on putting them on C/L for a very small percentage over face or just exchanging for paper before heading to my LCS. Not worth keeping really right? Inflation is obvious with fiat and it sure looks like the Comex will not have silver for long.

I almost would have done it today but called my LCS and they said they were cleaned out from the last few days. Hard to believe really. He usually has something decent, some tubes of Ag or Au coins.

So I think I would rather have the PM’s because the coins have little appeal.

What do you think?

I have $2600 in Eisenhower’s and $1550.00 in uncirculated gold colored slugs.
Get rid of them or hold on?

0CD

[TXTim]

Cash them in for pennies and start sorting

[shinnosuke]

I think pennies is a good idea because Ag may not be finished falling.

[Morsecode]

I bought 4 rolls of the Presidential dollars in the red, white & blue tubes every week most of last Summer. I saw the Lincolns selling on ebay for around $33-$35 with shipping, but I didn't want to deal with the hassle and eventually ran them all through the Penny Arcade in February to buy cents and nickels. No regrets.

Probably should've saved a couple Lincoln rolls though.

[henrysmedford]

Spend them and have fun and see what happens. For fun stories on that see http://www.realcent.org/viewtopic.php?f=27&t=992&start=0

Here is one of are stories from that thread --

At the Dairy Queen paying for dilly bars with Presidential dollars and having the young lady asking the mgr.. if they take them.-- Paying with a IKe and a two and having the mgr called over the loud speaker to be asked if they take them.

[blackrabbit]

I like Ike and hoard any of those I find but the "golden" dollars I just spend. You can get rolls from the mint for face value with free shipping so they are near worthless to hold in my opinion.

[daviscfad]

For sure cash in the presidential dollars

[Sheikh_yer_Bu'Tay]

I hoarded jars of Eisenhower’s,

So I think I would rather have the PM’s because the coins have little appeal.

What do you think?

I have $2600 in Eisenhower’s and $1550.00 in uncirculated gold colored slugs.
Get rid of them or hold on?

0CD

You have $2,600 in Ikes?! Wow. Nice going!

It is hard to find Ike's in my area anymore. They are now collectible. Don't spend them as dollars. Sell them as collectibles.

Someone here once made the comment he lays them on the table when he is at bars. The tipsy patrons would buy them for $2 and up!

[fb101]

I just turned a couple hundred in a the bank after I couldn't get $1.10 shippped. Since then the tellers have been throwing them back at me.

[Mossy]

Just make sure that none of the ones you spent have smooth edges whey they are supposed to have letters.

[Centsation]

Don't turn the IKEs in! There is only one bank that I am able to find them at anymore, so I've hoarded them. Occasionally, I will sell some off and I can easily get 1.25 FV for them. Everyone loves them because they are such huge coins. As far as presidential and sacagawea dollars, just turn those in for FV.

[hobo finds]

For the small dollars SBA, SAC, Presidental & Native American, I am sure they have some error coins to check for. Might as well check before you turn them loose!

Could be some info here... http://smalldollars.com/

[Coppercrazy]

I sell ikes out of my second hand/antique shop for $2 apiece. In bulk you can sell them on ebay for about 1.25 a piece.They will command a premium.Cash in the golden colored slugs! better off with boxes of ANY DENOMINATION to search through or buy silver in the DIP its in right now! Oh I should also say-thats an impressive stach,usually the banks just get a few at a time.once I got 130 with one 40%!Other wise just 2 or 3 at a time...

[zerocd]

Thanks for all the responses and PM’s!

I wrote up a long post yesterday morning only to have the page crash and lost it all.

Then, my day was booked with my last daughter graduating high school plus a niece who had a family party and the day was gone.

Anyway, I am in a holding pattern due to your thoughts.

I do think that silver shenanigans will continue until QE3 is resolved one way or the other and so, cannot say it’s bottomed for sure at all.
Moody’s threat on ratings could keep prices low IMO.

I now have an inventory which I did not have, jeez, had no idea I had 2600 Ikes!

I channel my OCD to positive tasks and later, when I have a chance to reflect, find out what happened. I surprise myself, lol.

I did find one silver in the batch and must not have looked closely that day. I have only found three or four in the wild to date.
I had originally wanted to put an album together from my best Ikes and many of these have not seen much daylight. I get them not long after they are dumped on a teller who cannot get rid of them fast enough. Before that they were just in a drawer or jar of someone else’s.
I do have fear being caught with fiat after some mean inflation bumps and if silver is going to climb again, it would be more profitable to just buy silver with the coins.
I am a collector *cough* hoarder and getting “rid” of anything is not normal for me. I usually buy silver or gold AND keep the odd stuff I find. But being tight on cash made me think I should consider liquidating them anyway.

So, first I will pull out all the keepers for my albums(s) and then look to make a profit on the sale.

Does anyone else put away any of the “gold” dollars for future collectors or is this a lost cause.

I do think that if a new currency is introduced, backed by gold, silver or a basket of value, the “gold” coins will be trash. I think I have $500 of 2009 Sacajawea’s I got delivered free from the mint at face and don’t know if they will ever appreciate, even in fifty years.

I have a few who have PM’d with interest and will consider selling some Ikes after I sort what I want.
As far as sorting pennies, I already have 9 five gallon buckets of copper sorts from the Ryedale but limit this activity to winter nights. My friends are professionally sorting copper locally and I imagine they will put a dent in the copper percentage if they continue. They are doing a lot of volume now.

I’ll post more later.

0CD

[GA-Silver]

Are the Susan B. Anthony Dollars worth hanging onto?

[zerocd]

Are the Susan B. Anthony Dollars worth hanging onto?

Try here:

http://www.numismedia.com/fmv/prices/antdlr/pricesgd.shtml

[henrysmedford]

What about a trip to Ecuador it is the number coin there. Also the Fed just sent a boat load of them to Zimbabwe about a half dozen countries use them more than we do. For info see-- http://www.tripadvisor.com/ShowTopic-g294307-i2253-k4082225-l29885892-Presidential_dollar_coins_usage-Ecuador.html and
http://en.wikipedia.org/wiki/Dollarization#U.S._dollar
Also when my son Franklin filled his Sacagawea book we bought to bags of dollar coins and after $2K of coins we gave up looking and bought them of of Ebay paying up to $8.00 each maybe they have all left the US and you would have to go to Ecuador to find some years and mint marks.

[zerocd]

Interesting note on US coin usage in Ecuador! I need to go to Canada first to spend the $1000 in the Canadian change pile. Jeez, I am sitting on that too due to the fact I have not had time to sort them for anything I want to keep. I love the old coins and they are not segregated. Jade Dragon offered to repatriate them for me and someday.....they take a 3000 mile plane ride before being driven across the border.

Just something else I have hoarded.

Tip of the iceberg.

0CD

[Pennybug]

What about a trip to Ecuador it is the number coin there. Also the Fed just sent a boat load of them to Zimbabwe about a half dozen countries use them more than we do. For info see-- http://www.tripadvisor.com/ShowTopic-g294307-i2253-k4082225-l29885892-Presidential_dollar_coins_usage-Ecuador.html and
http://en.wikipedia.org/wiki/Dollarization#U.S._dollar
Also when my son Franklin filled his Sacagawea book we bought to bags of dollar coins and after $2K of coins we gave up looking and bought them of of Ebay paying up to $8.00 each maybe they have all left the US and you would have to go to Ecuador to find some years and mint marks.

Yet again another example of truly valuable info that I seem to only be able to find from members of this site! Thanks H.M.! I LOVE to learn stuff like this! It really adds perspective to happenings across the globe that are otherwise NEVER heard of. Tell Franklin I scored my 1st IH penny this weekend! .75 cent at a pawn shop.

[PreservingThePast]

If you decide to liquidate the gold presidential dollars for face value be sure to check them over thoroughly before doing so as there were errors and/or varieties in these that fetched a premium.

Enjoy.......

[zerocd]

Look for errors? Another good idea. Will have to see what to look for.

I found I had a bunch more as I have been checking all the coins I wasn't paying attention to while I was busy searching halves, nickels and pennies.

Any tips on error guides?

0CD

[NDFarmer]

Does anyone else put away any of the “gold” dollars for future collectors or is this a lost cause.

They probably are a lost cause. But I did start collecting them I have rolls both P & D of each one that is out. We are about half way though the series now so I figure if I kept with it this long I might as well try to finish it. I will NEVER start collecting another one of these series of coins again. When it takes 10 years to complete a series that is crazy. I think they might have a little bit of a premium once the series is done. If you can offer complete sets or roll sets they might be worth a little more. But by then some of my money will have been tied up for 10 years so I would have been much better off buying silver instead of these dollar coins.

[hobo finds]

what about the state quarters, U.S. Territorial Quarters, national park quarters? If you have rolls will you keep them?

[zerocd]

what about the state quarters, U.S. Territorial Quarters, national park quarters? If you have rolls will you keep them?

Got some of those too, mostly quarters and I have a lot of years of clad halves. Just did inventory. Holy smokes.

Same problem.

The Comex silver pile decreased to 28 million something from 29.6 million ounces and will continue to fall until empty at the rate it is flying off the shelves.

I'm thinking silver might go to the moon then.

It will happen this year.

I think we will do better with money in silver when that happens.

My goal is to get as much as I can for them ASAP.

We could buy all the pretty coins later if we really want them.


0CD

[cesariojpn]

what about the state quarters, U.S. Territorial Quarters, national park quarters? If you have rolls will you keep them?

I'm guessing spend them. State Quarters has probably MILLIONS of those coins socked away in drawers across the country; not to mention the numerous "colorized" sets and whatnot.