Thursday, August 12, 2010

I do enjoy coin collecting, but...

...not at the price the Danbury Mint is asking. They want $20.00 for a single roll of twelve uncirculated America the Beautiful state quarters. That's $1.67 apiece or more than six times the face value of the coins. The U.S. Mint is issuing five of these state quarters a year, and the Danbury Mint would like to sell me a roll of twelve quarters for each state, every year as soon as they come out until the whole series is minted. If I accepted this offer and agreed to stick with the program (I could bow out at any time), I would end up spending a total of $1,000.00 plus shipping and handling for the privilege of owning fifty gleaming state quarter rolls, plus a bonus quarter in a resealable capsule for each state and a nice box to keep them in. The question I have to ask is: Would this really be worth it? Not for me. At that price, I don't want thirteen brand-new quarters from each state. I'd rather just get one quarter from each state. The Danbury Mint wants to sell me twelve apiece so they can make a fortune on this series.

Some might say that this is a sought-after coin series and I should get in on the ground floor. All the same, I can't bring myself to pay $100.00 for $15.00 worth of coins. It may also be true that the market value of these limited edition coins will skyrocket twenty or thirty years from now. Nonetheless, even if my collection were to go up ten times in value and I were to sell it for that much, I would not earn much more than the Danbury Mint originally charged me for it. Bottom line: This is a great deal for the Danbury Mint and a ripoff for customers. If I want a roll of these shiny new quarters, I can get it at face value from the bank.

By the way, I haven't even collected all fifty of the recent state quarter series yet, which is my favorite American coin series.

No comments: