Today’s Mail Bag question came in last week as a comment on an article about the upcoming Georgia American Innovation Dollar. Their question is about the fact that the United States Mint only sells these coins in bags & rolls – why?
hi – i am new to this too…so if this is not the correct place to posit this query – please let me know…. my question…is why are the P & D innovation dollars not offered in sets? not everyone can afford bags and/or rolls and many don’t don’t want and/or need all those duplicates…….seems the only way to assemble a complete set of innovations dollars is to but them individually on the secondary market…. thanks!
The primary reason that the American Innovation dollars are sold in bags and rolls has to do with the fact that the US Mint doesn’t release them into general circulation. They produce the coins primarily for collectors and, to make the endeavor worth the effort, they sell them essentially in bulk.
To your other question Howard, what to do with the duplicates. Many collectors simply sell off the remaining coins via eBay or other online services. Those coins are sold at a premium, generally around $2 each. So for example, if you buy a roll of the dollars, keep two for your self, and sell the remaining 23 at $2 each, that means you will make $46 in sales, or $13.05 in profits after the cost of the rolls. The profits are even greater on the 100-coin bags.
This is what I do personally when I buy these rolls upon each release.
I hope this helps answer your question Howard.
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By-the-way, the Georgia AI dollar sales start later today.