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The election of Barrack Obama can arguably be counted as a significant milestone in American history; however the purchase of commemorative coins heralding this event are not a significant milestone to be placing your hard earned cash in as of yet. In making this statement, criticism will certainly follow as a great many supporters might disagree; however, when stripping the emotional from reality, the conclusion is self-evident investing in an Obama commemorative at this point is not only risky, but probably a waste of money. As of yet, there is no official commemorative coin being produced by the US Mint or any other authorized government agency which would lend credibility to the commemorative market. Virtually dozens of variations of so-called commemorative coins are being churned out daily by individuals or various organizations to capitalize on the Obama popularity wave, and all of them have no real monetary value backing them outside of the face value of the metal the coins are minted on or in some cases, being painted upon.
The most common variety of commemorative currently being offered are the colorized coins. These are nothing more than US coins which have been gold plated and then had either a decal or painting applied to them to create the illusion of being something special. Most are printed on quarters, a few will toss in a half-dollar or a re-painted Presidential dollar, but most are printed on as low a value coin as can be offered to maximize profits. One set even offeres a re-painted Hawaii quater; which is ironic as Obama apparently abandoned his early ties to this state and chose Illinoise instead. These sets are not government issued, not authorized by the US Mint, and have no real monetary value other than the face value of the coins they are imprinted upon. The package is clever and the ads are attractive, but unless you just like the stock photos on the coins they are realtivly worthless as far as collectability. Most are around the $30.00 a set price range, which is expensive for $2.50 worth of coins.
The most common variety of commemorative currently being offered are the colorized coins. These are nothing more than US coins which have been gold plated and then had either a decal or painting applied to them to create the illusion of being something special. Most are printed on quarters, a few will toss in a half-dollar or a re-painted Presidential dollar, but most are printed on as low a value coin as can be offered to maximize profits. One set even offeres a re-painted Hawaii quater; which is ironic as Obama apparently abandoned his early ties to this state and chose Illinoise instead. These sets are not government issued, not authorized by the US Mint, and have no real monetary value other than the face value of the coins they are imprinted upon. The package is clever and the ads are attractive, but unless you just like the stock photos on the coins they are realtivly worthless as far as collectability. Most are around the $30.00 a set price range, which is expensive for $2.50 worth of coins.
Even forigen compainies are getting in on the act. The above set is offered at 40 POUNDs....that's nearly $80.00 US. Made in Birmingham, England this large coin is either offered in a 50% silver alloy in layered in gold, or Silver Alloy with only the bust layered in gold. However, it is shipped FREE to the US and has its own wooden box! OK....that's nice, but a wasted $80.00 as it also is not authorized, nor backed by metal content.
Of all the sets being offered these two above have at least some value-backed metal to them. Both are 99% silver with the one on the right being gold plated. The set on the left is a full 1 ounce of silver - current spot price at time of writing was about $10.50. Cost of the coin was between $100.00 and 200.00. Not a very good ratio for return. Made by a private company and not US Mint. The details aren't very good and the bust of Obama, in my opinon, is more cartoonish than actual and the eagle on the reverse looks more like a cross between a vulture and a strutting chicken. Not a very well designed coin at all. The set on the right is about nickel sized. Cleverly packaged to make one think this is a US MINT SET - BUT DON'T BE FOOLED. It is not a US MINT SET. It is a private company as well. The value of the silver is about $2.50. The cost is closer to the $30.00 mark, but it has a display box! Still not a good return.
What is a good buy? If you really want a commemorative that is inexpensive and won't break your wallet over time then these below should fill your bill:
What is a good buy? If you really want a commemorative that is inexpensive and won't break your wallet over time then these below should fill your bill:
The coins are usually adverstised as flippers. The one on the left is a Jefferson nickel inserted into a brass ring with the name of each canidate on either side. The cost is about $2.50. The set on the right is a wooden nickel with either canidate on one side. The cost is about $1.25. Both are affordable and will retain as much value as any of the sets discussed here, but they won't bankrupt you in the process or cost you a lot of money. All are cute and appeal to your emotional side, but all are over-priced and won't hold their value. Within a few months there will literally be thousands of variants of these type of coins. All are nothing but souviners and have as much value in the long haul as putting a penny into a machine and cranking a handle to have it smashed into an enlongated token seen at every tourist attraction in the world.
Good advice: Wait until the US MINT puts out a commemorative coin -- and they will -- and then invest in those. At least it will be credible, value backed, and an authorized mintage. If you want to buy the others as a memorbilia, then feel free to do so. It's your money. Spend as you want to, but remember you get what you pay for. If you buy nothing, then expect nothing in the long run in return as the prices of the majority of these will most certainly bottom out.
Good advice: Wait until the US MINT puts out a commemorative coin -- and they will -- and then invest in those. At least it will be credible, value backed, and an authorized mintage. If you want to buy the others as a memorbilia, then feel free to do so. It's your money. Spend as you want to, but remember you get what you pay for. If you buy nothing, then expect nothing in the long run in return as the prices of the majority of these will most certainly bottom out.
Guide created: 11/09/08 (updated 12/27/08)
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