Expert: PAPAJACK - 5/17/2007

Question
The new presidential "golden" dollar apparently has no gold at all in it, getting its color from manganese brass.  Is there any reason to think that its value will appreciate by any noticeable amount?  Why is a U.S. dollar being sold for more than its face value in its first release, instead of being issued as a dollar?  Would you recommend this as a collectible coins for more than mere sentimental reasons?  I look forward to your input on this subject.  

Answer
Hello Alex,           

The coins are more collectable for "sentimental reasons" as you put it. They are being released into circulation at face value and available in some banks.
They are produced in many millions for circulation and there is theoretically no limit in the near future to get High Quality coins at near face value.
As for paying over face value - If you do need a Grade 69 or 70 perfect specimen coin then you will pay more. Many collectors feel the first release of the coins fresh from the mint (first strikes) are better than a coin made with a more worn die and pay more for it.
But there is no reason to buy these in bulk and hold on to them, the general circulated coins will always be available.  

As a collectible you should look into the Proof versions (but don’t overpay). Presently only available from the mint but the secondary market will have some soon. The proof mintages will be far less than the production issues and therefore slowly go up in value. This will take years as well.

I hope I was helpful and answered your question. Please remember to rate this answer at the bottom of this page. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack