Expert: PAPAJACK - 1/9/2008

Question
My Dad called me saying he bought 3 gold dollars at the bank and none of the have any edge writing, date, in God we trust etc. He said he had heard of these coins and they were taken out of circulation. Can you tell us where we can find out how much they are valued at if anything?
Thanks.

Answer
Hello David,                                          

Only the newer Presidential dollar coin is supposed to have a lettered edge. The Sacagawea Dollar is still being made as well with a smooth blank edge.
The coins without  the edge inscription are not removed from circulation, they are released by the mint anyway. They have also been called God-less money since the motto is missing, the US Government doesnot seem to care.
For Presidential dollars with edge lettering missing;
There are many reports of the edge lettering missing altogether. As for value if the edge is not inscribed depends on how much you can sell them for. They seem to be a common item and I think most collectors do not consider it a true error coin.

For Presidential dollars with edge lettering present;
The US mint has no definite direction of what side is the right direction for printing the circulated dollar coins. Many are found with the edge inscriptions facing heads and tails. I found no added value for this condition.

The surge you see when something is first discovered is not always an indicator of the true value but speculation by people.
I do not think it will be more valuable next year.

If you want to go to a dealer with your coins you will probably get more than a dollar for them depending on the condition and eye appeal they have but there is
price yet. If they are presently in demand for the particular President on them, date and mint it was made at you will get more.

If you write back with the general location (nearest large cities) and some zip codes in your area, I can direct you to an AMERICAN NUMISMATIC ASSOCIATION MEMBER/DEALER near there. They are ethical and trustworthy.

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Thank You and Good Luck

PapaJack