Prez Dollars DOA as Investments

[Know Common Cents]

NDFarmer posted about why/how the Mint may stop making Presidential Dollars. I'm going to take that one step further. As investments go, these are as sad as yesterday's news, a dead fish washing up on the beach and the moldy bowl of half-eaten fruit delegated to the back of the fridge for a loooooong time. All combined.

Using the Aug 19th Grey Sheet, I thought I'd take a look to see whether any of these were gaining in value since the '07 rollout of G Wash and J Adams. So much for that idea, I guess.

Most business strikes have a listed value of $1.05 each in roll quantity. The leaders of the Prez pack are the '08 P and D Monroe issues at $1.20 each. There's about 8 of the proof issues that have vaulted forward to the $2.25-2.75 range each in roll quantity. We know they're not made of silver, but, geez, what a fizzle.

Personally, I believe the Grey Sheet has attached a value of $1.05 to those that carry absolutely no premium over face regardless of whether one has 1 roll or 10k rolls. I've never seen the GS show something like at as face value. Just their way of being polite, I'm sure.

The Prez Bux are somewhat interesting to see and maybe keep one of each issue just to have them. Thing is, though, I'd probably sacrifice most for a late-night craving at Taco Bell if needed. Seems to be no shortage of them to replace the ones I put into circulation.

Another noble idea gone sour. It really is quite sad and one has to wonder if all the bazillions of them in storage were made just to keep Mint workers and suppliers in business. Here's my recommendation for these:

It seems inevitable that a QE3 is going to be announced by Helicopter Ben Bernanke at this weeks Fed Reserve meeting. As part of this new stimulus venture, why not send a box of $250 of Prez Box to each person who actually paid federal income tax in 2010. Having to be a bona fide taxpayer is the only pre-qualification. Then, the USPS would gain some revenue by processing all of those Priority Mail boxes. People would actually have fun spending them if they knew others were doing it too. The Mint could even have a contest for the most creative way to spend them.

Get those ugly Prez Bux a movin' I say.

[Rob72830]

I didn't know there was going to be another stimulus. After all that crap last month about the budget, I just don't understand how they could spen millions when they need to reduce the budget. Perhaps they could sell of of those things at a GSA auction for scrap? Then the ones that were actually issued might get some numismatic value and then the government could send out checks keeping the post office working.

[ed_vantage17]

Easy way to get those golden tokens into circulation. Discontinue the $1 FRN. Increase production of $2 FRN.

Easy Peesy, Lemon Squeezy.

[Kurr]

They are the "backup plan" ha ha.

When the dollar collapses and we are issued the new dollars after devaluation, they'll have something to circulate.

10 green papers, get you a shiny gold coin? lol.

I still say they aint popular with people, because they aint popular with the banks. If instead if .88 sienorage, they created .88 of debt, I bet peoples pockets would be FULL of them, and banks would be PUSHING them into folks hands.

[Cerulean]

It seems inevitable that a QE3 is going to be announced by Helicopter Ben Bernanke at this weeks Fed Reserve meeting. As part of this new stimulus venture, why not send a box of $250 of Prez Box to each person who actually paid federal income tax in 2010. Having to be a bona fide taxpayer is the only pre-qualification. Then, the USPS would gain some revenue by processing all of those Priority Mail boxes. People would actually have fun spending them if they knew others were doing it too. The Mint could even have a contest for the most creative way to spend them.

Get those ugly Prez Bux a movin' I say.

I want them to move, too, but your scheme won't do so. Recipients will just take them back to the bank anyway. People need an incentive to spend them. Now maybe if businesses offered a discount to customers paying with dollar coins....

[Cerulean]

Discontinue the $1 FRN. Increase production of $2 FRN.

I second this motion.