Ok, so there's this ad in the newspaper.

http://www.newspaperads.com/journalnow/advertiser_rop_ad.asp?advid=13755401&advname=THE+U.S.+MINT&allregpub=439&from=adfront&itemid=9537449&page=1&orderby=&adtype=1

Basically, there are these $1 coins that are printed, then the governmetn doesn't want them, so they say "don't print anymore."
So the treasury stops.

Now they're releasing rolls of 50 of these, with 1 extra so you can show it off, for $98.
Over the next 72 hours starting yesterday.

And my mom buys 4 of these things, totalling like 500 bucks or something.
She thinks they will be worth money one day.

I'm not sure if she's crazy or smart.

I don't know how into coin-collecting you guys are, but do you think there's any value in the things? or potential future value?
I mean, how often do people say, "Hey, there's a rare coin from 25 years ago, I'll buy one for 50X it's value"

Yes, if they're gold or silver. Which they are.

The sacagawea coin didn't take off, and I don't think it's worth more than a dollar right now.
(gold coating ... actually the same exact dimensions of the presidential coins.)

but those were made in larger numbers, and it wasn't that long ago...

it takes time for coins (like any other thing) to become valuable

:P...

Should I blow 100 bucks and buy a set?

Because I think they'd be GREAT to use on the toll road...jk

Seriously though, it seems kinda cool, but I've made bad investments before. I'm wishy-washy. I think I'll wait till my dad comes home tonigh and see what he thinks, the 72 hours lasts through tommorrow.

I just wish I had the money for those, since I'm somewhat into coin collecting.

I cannot seem to find ANY references to the fact that the Presidential $1 Series was canceled, Including on the US Treasury’s own site for the coins. Other than this newspaper article (convienetly trying to sell us these very coins) can anyone even confirms that the minting has been discontinued?

I mean, this looks like I might be like the 50-State quarter program, where, once minted they will never mint these four PARTICULAR presidents again, but it looks like they still plan on making the full ~8 year run on these coins…

Anyone know anything about this?

[edit] Also, THIS looks like a better deal to me, 250 coins for $320 as oposed to 51 coins for $98 [/edit]

I'm going to call the US mint tommorrow and try to verify this.

I think it's a scam.

In the top right corner of the article, it says "advertisement."

The World Reserve Monetary Exchange, who put the advertisement there, is not affiliated with the US Government.

The customer service # that they give you is closed, since it's midnight, but they just say "thank you for calling customer service, we are closed, our normal office hours are etc etc," but they don't identify what company, just "customer service."

I sense something fishy.

The only thing that throws me is the fact that the ADVERTISEMENT (not article) says specifically



Which means that if they are wrong, this is false advertising.

Wikipedia doesn't mention anything about them being discontinued.

The World Reserve Monetary Exchange website is full of dollar books you can buy.

http://www.raremoneysheets.com/index.asp

Yeah this is utter crap.

I actually bought one (of the rolls of coins), I'm going to call and cancel in the morning, and tell my mom to as well.


This was in the Orange County Register (that's in California)

Ha ha, the Register. Suxbad.

Ok, so I just called the Treasury, and # 4 on the call menu was "The new Presidential Dollar." I clicked it, and it didn't tell me anything about cancellation, just information about the program.

I figure, if it's on the US Treasury's webpage, and #4 on their menu, then it's not freaking cancelled!

So I call the customer service line that I was given from when I ordered the ballistic roll of coins.

I tell them I want to cancel, give her my order ID #, and get put on hold for 60 seconds while she "looks up the account."

Then she asks me "why are you cancelling today."

I say "Well, I can't seem to find any verification that this program is cancelled despite your article claiming that "there will be no more coins."

Then she says "Every 91 days, a new presidential coin is minted. George Washington was for the first 3 months of 2007, John Adams in the second, and the George Washington coins will no longer be minted. Do you still want to cancel?"

I say "YES! I still want to cancel."
And I got my money back.

I told my mom, she's cancelling as we speak.


It was misleading advertising
If you read the article, it refers to the George washington coins before it says "production is stopped by law, there will not be anymore." That's how they got away with phrasing it that way.

Whew, that's a crisis averted.

if you really want them, go to the bank, hand them 50$ and get 50$ in coins. seriously, its not like its rocket science here.

meh... just buy gold or silver bullion.

granted gold is a bit pricey, but silver is quite affordable. and its fun to have. i have two 10 ounce ingots and fifteen 1 ounce coins. i always feel like Scrooge McDuck or gollum because i get a disturbing sense of satisfaction sitting in the dark and counting my silver.

I've always wanted to go swimming in a giant vault of money like Scrooge.