Expert: PAPAJACK - 8/28/2008

Question
I HAVE A FEW UNOPENED $1000.00 UNCIRCULATED BOXES OF THE NEW GEORGE WASHINGTON $1 STRAIGHT FROM THE MINT .WHAT WOULD BE THE VALUE OF THESE BOXES.

Answer
Hello Ed,                             

These coins are actually trading dealer to dealer at face value. Unless you find a really beautiful MINT-STATE un-marred specimens that grade higher on the coin scale than 67 they are sold at face value. (That coin scale only goes up to 70)
They contain no precious metal at all. The error coins are trading higher than normal circulated coins if you find any in your batch. Let me add you are not the only one holding the coins there are thousands of people that thought it would be a good idea to hoard the coins.
You may find a buyer looking for un-opened rolls of them on a site like eBAy but there is no set minium price. If you are lucky you might get twice face value but I see they have solf around $27 to $32 for a 25 piece selaed roll from the US Mint.
But the truth is there are more than enough made for every collector to hold more than on specimen from each mint and still have millions left for circulation throughout the world.

The same this has been happening since the start of the state quarter program. Millions of the quarters are bought by people paying over the face value and stashed away. Some thought they would be worth more in the future. But the same rule applies collectors can get the gem-quality coin at the coin shows or shops and will not over pay for a circulation quality coin.

I hope this information helps.

Good Luck

PapaJack