Are they worth it? Should you buy one RIGHT NOW? HECK NO! Why? It's actually quite simple. People are selling these things based on an undocumented fact, that these are very rare error coins. Sure, they're error coins, but are they rare, well we simplydon't know yet. Think back to the Wisconsin Quarter Reverse Error. Those quarters initially sold for over $1,000, that's right $1,000 per quarter. One can now purchase a set of all three varieties for less than $300 geBINED and that's still ridiculously high.
I am shocked that people are shelling out $250 for these Washington Dollar error coins when WE KNOW that there are at least 50,000 out there and perhaps even 100,000-250,000 maybe more. The Mint doesn't know and they even say that there could be many more than we even know about. Do not buy into the hype,save your money and wait this thing out. Remember when the Marine Corps gememorative's came out? Those moved for triple the value immediately. I am having a hard time moving them at less than $60. This shall also be the path of these "rare" smooth edged coins. There are simply going to be to many of them to continue to warrant the demand and prices will plummet.
To all the people are caught up in a frenzy at this "rarity", I say watch okay and wait. There are so many of these Dollar Error coins being listed everyday that the cost will most assuredly drop within 6-8 weeks. I propose that the cost of these coins will likely drop into the $30-$50 range by June 1, 2007. Do yourself a favor, save your money until then. If you feel obligated to throw away money feel free to send it to me, I could use it. By purchasing these error coins for $250 you're giving away your hard earned money anyhow. Tell you what, send me $100 if you want to throw away your money and then buy one of these "valuable error coins" in June or July, you'll still save $100 over todays asking price, even by giving me $100 for the heck of it.
$30-$50 by June or July 2007. Watch it happen and SAVE YOUR MONEY (or give it to me).
AND FOR THE LORD'S SAKE DO NOT BUY THESE UNLESS THEY ARE GUARANTEED AUTHENTIC, THERE ARE ALREADY PEOPLE FILING OF THE EDGE AND SELLING THEM AS MINT ERRORS. THIS IS DEFINATELY A TIME WHEN YOU WANT TO BUY A COIN THAT IS THIRD PARTY GRADED TO ENSURE AUTHENTICITY.
Happy Collecting and do check out the great stuff in my store for true value and great deals.
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