Expert: PAPAJACK - 11/18/2007

Question
I have 2 George Washington dollar coins . One has the lettering on the edge of the coin upside down and the other is right side up. Is there any reason I should keep either one ?

Answer
Hello Dave,                                   

As for this edge lettering on the new dollar series, I have not seen any hard evidence from the mint about which is correct.
Many people have found them to be "up-side-down" so the printing both ways seems to be common. And I do not see a huge demand for having one of each kind.

The mint is again counting on many people keeping the coins as collector’s items. For each one that is never redeemed as a medium of exchange it is another dollar on the governments pocket and over a 90 cent profit to the U.S. Mint, since they sell the coins at face value to the bank and manufacture them for a few cents each.

There does seem to be some people are creating an artificial mark-up and selling both varieties as rare collectables, of what is a common coin.

These coins are only selling to collectors in MINT STATE condition. If they have any circulation wear they may as well be spent as a dollar.

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Thank You and Good Luck

PapaJack