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Re: Is It true coins or fraud?

Posted by Jeffk on April 12, 2008 at 15:02:35:

In Reply to: Re: Is It true coins or fraud? posted by Mary on April 12, 2008 at 12:16:53:

Please try to understand what we're saying: The Presidential dollars are real coins. They are made by the U.S. Government and are supposed to be used for ordinary spending, just like the state quarters - or nickels or dimes or cents. And just like the state quarters, you can go to almost any bank and get them, just like you could get any other circulating coin. The dollars are NOT rare and NOT valuable and NOT made of real gold. The only difference is that the dollars are a new design and a lot of people aren't familiar with them.

The ONLY problem is with World Reserve Monetary Exchange and other companies that are advertising the dollars as "special" and selling them at two or three times their face value. They are hoping to confuse people who do not know a lot about coins, and who think that they have to buy the new dollars in sets instead of getting them in change or from a bank. The only thing that's "special" is the fancy packages that these companies are using to hold the coins. So, if you spend $110 for a set of 50 $1 coins, it means you have paid $50 for the coins and $60 for the fancy package.

There are companies that do the same thing with state quarters. Every week there is an advertisement in our Sunday newspaper for sets of state quarters. The ad says that the quarters are "rapidly disappearing", and implies you should pay $40 or so for a package. But a quick check of my coin jar shows over half of the quarters are state quarters, so they are definitely not "rapidly disappearing" - all I have to do is grab them. In the same way, I go to my bank every couple of weeks and get a roll of dollar coins. If there is a date, mint mark or design that I do not have, I save it for my collection. Then I spend the rest of the coins, because they are worth exactly $1 each, which is exactly what I paid at the bank.

Bottom line - why should you pay a dollar for a 25c state quarter that you can get from change, or $3 for a $1 coin that you can get from your bank? If you saw an ad selling "shiny 2008-dated dimes" at 50 cents each, would you buy them? Or just wait till you got one in change?

: what both are right? you mean waste my money and cancel. does it right that president coins are scam fraud?

:
: : You know, you're both right.

: : : : I need to know from truth. Is the coins true or fraud? Don't want waste our money gone. Please let us know and other people knows. We need help each others Is true scam?

: : : Some are. Some aren't.

Follow Ups:

• Re: Is It true coins or fraud? Bill N-T 13:24:31 04/14/08 (3)
  • Re: Is It true coins or fraud? JeffK 19:17:25 04/14/08 (2)
    • Re: Is It true coins or fraud? Mary 14:18:18 04/24/08 (0)
    • Re: Is It true coins or fraud? Bill N-T 08:48:56 04/15/08 (0)

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Comments:
: Please try to understand what we're saying: The Presidential dollars are real coins.  They are made by the U.S. Government and are supposed to be used for ordinary spending, just like the state quarters - or nickels or dimes or cents.  And just like the state quarters, you can go to almost any bank and get them, just like you could get any other circulating coin. The dollars are NOT rare and NOT valuable and NOT made of real gold. The only difference is that the dollars are a new design and a lot of people aren't familiar with them.  

: The ONLY problem is with World Reserve Monetary Exchange and other companies that are advertising the dollars as "special" and selling them at two or three times their face value.  They are hoping to confuse people who do not know a lot about coins, and who think  that they have to buy the new dollars in sets instead of getting them in change or from a bank. The only thing that's "special" is the fancy packages that these companies are using to hold the coins. So, if you spend $110 for a set of 50 $1 coins, it means you have paid $50 for the coins and $60 for the fancy package.

: There are companies that do the same thing with state quarters.  Every week there is an advertisement in our Sunday newspaper for sets of state quarters.  The ad says that the quarters are "rapidly disappearing", and implies you should pay $40 or so for a package.  But a quick check of my coin jar shows over half of the quarters are state quarters, so they are definitely not "rapidly disappearing" - all I have to do is grab them.  In the same way, I go to my bank every couple of weeks and get a roll of dollar coins.  If there is a date, mint mark or design that I do not have, I save it for my collection.  Then I spend the rest of the coins, because they are worth exactly $1 each, which is exactly what I paid at the bank.

: Bottom line - why should you pay a dollar for a 25c state quarter that you can get from change, or $3 for a $1 coin that you can get from your bank?   If you saw an ad selling "shiny 2008-dated dimes" at 50 cents each, would you buy them?  Or just wait till you got one in change? 

: : what both are right?  you mean waste my money and cancel. does it right that president coins are scam fraud? 

: : 
: : : You know, you're both right.

: : : : : I need to know from truth. Is the coins true or fraud? Don't want waste our money gone. Please let us know and other people knows. We need help each others Is true scam?

: : : : Some are. Some aren't.



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