From the Sept. 13 Numismatic News E-Newsletter:
Do you buy state quarters by the bag or by the roll from the U.S. Mint?
Here are some answers sent from our e-newsletter readers to Editor Dave Harper.
I have never bought state quarter rolls from the Mint, but have bought them from my bank, which seems to carry them pretty consistently. The Mint?s premium is just way too high in my opinion. Hope that is useful information, and keep up the great columns!
Sneed Collard
Missoula, Mont.
No , I have not and do not buy the roll or bag specials from the U. S. Mint, and I do not anyone who does. I?ve been a collector of our modern coins for about 50 years and do by the mint and proof sets to keep up with my collection of cents to half dollars which is the only way to secure them.
In my opinion the Mint has gone off the beaten path with this new series of dollar coins. They just cannot get it right.
Gordon G. Ballard
Big Bear Lake, Calif.
Yes, I have been, and plan to continue to, buy one uncirculated roll each from both the P and D mints as they are released.
Robert Fitzgerald
Fort Madison, Iowa
I do not buy the state quarters from the Mint. I have difficulty buying something that is not going to have much numismatic value in the future.
Issue them in 100 percent silver and I will buy for two reasons.
(1) there will be numismatic value
(2) the dollars I use to buy the quarters will be converted into silver, which over time will grow to offset our inflationary attitude towards our economy.
Ludy E. Langer
Sacramento, Calif.
No, I don?t purchase any rolls or bags, but get the mint sets (proof and unc. and silver proofs) every year.
That?s enough for my collection.
Stan Yokaitis
Surprise, Ariz.
No I don?t. I don?t buy them elsewhere either. But if I were to I would buy from a federal bank in uncirculated rolls at face value. I can?t see paying the additional. Maybe I?m wrong.
Brad Knutson
Canby, Minn.
Yes, I buy the quarters from the Mint. I remember the bags of 100 were sold for $29. Now, I believe about $37. As I go through the bags, less then 50 percent are worth keeping. P mint is even less. Their quality control is very poor.
Ron Harburg
Pearl City, Hawaii
I have been buying the 100 coin bag for both mints since 2000. Either I didn?t realize the bags were available or I got the urge a year late to start, so my collection is missing the 10 bags from 1999.
Evan J. Racker
St. George, Utah
I buy my new uncirculated state quarters directly from the U.S. Mint.Every order comes through the Internet or phone call from me. I buy what I like and can afford. Gold coins are miles away from my budget. The circulating coinage, plus the commemorative coins are what I go after. Sometimes I get lucky on eBay; some coins are ?sleepers.?
I bought a British West Africa, 1936 1 penny coin celebrating the reign of King Edward VIII, who was in office a short time. He married Wallis Simpson, a commoner. Edward abdicated the throne after his marriage to Wallis. His love was so great for his wife, that the ruling office was no longer important to him.
Dianne Hardin
Burlingame, Calif.
No, I don?t buy my quarters from the Mint. I can get them cheaper from a dealer.
Matt G. Juppo
Bothell, Wash
When the quarters came out in 1999, I was buying a $25 bag of them from the mint. I stopped doing that after the first year. I was also enrolled in a program with a coin company that would send me a set of the new quarters whenever they came out. This company also charged a premium, but I wanted a roll set and found it to be a good company to deal with. There was some kind of credit card security scare that came up, and the company quit sending me the rolls. I then started to get them from the Mint, and have for the past two years. It?s true that the Mint charges a premium, but so would other coin dealers. I can go to my local bank and get roll for the correct value, but I wouldn?t have the other mintmarked coins. The Mint charges a premium on everything else it sells, so I don?t see a problem. I?m willing to pay something extra for the things I want.
Doug Jendro
Fargo, N.D.
I usualy buy them at the bank when they are available. I have bought them from the Mint, but dealers payed less than what I payed for them.
Edward Majzlik
Dearborn Mich.
No, I do not buy quarters from the Mint as the premium is too great, and I can?t use the large quantities. I get the ones I need from a dealer friend. Other than a dealer, I cannot understand people buying these in large quantities as it will be at least 100 years before there is any increase in value of the coins, even if 25 million are collecting them.
Griff Carnes
Kerrville, Texas
Yes, but only in the Proof sets and Unc. sets. I think the Mint should stick with providing the country with coins for circulation only when it comes to this matter.
Sanford Mazel
Altadena, Calif.
Regarding buying quarters by the bag or roll from the U.S. Mint. No, I do not. However, I do buy U.S. Silver Proof sets on a yearly basis from the Mint (recently ordered my 2007 set). The Statehood quarters look great in 90 percent silver! Also, I?m putting together a state set out of pocket change for my granddaughter. Currently, I?m current through Idaho.
Robert H. Ball Jr.
Detroit, Mich.
Yes, I buy bags and rolls. These coins are not available to me through my bank. Living in the Phoenix, Ariz., area, Philadelphia Mint products are relatively scarce. My remaining choice is to go through coin or bullion dealers, which also requires a pemium price.
Although there is a premium when buying through the U.S. Mint, the special Mint wrappers do seem to garner a premium over the coins packaged by Mint subcontractors.
Maybe I am just anaware of other outlets where I could circumvent paying a premium.
Bob Mortenson
Phoenix, Ariz.
I don?t buy any state quarters. I have all three sets: the five quarters each year, the Clad Mint set and the Silver Mint set. I look at the change in my pocket but since I am not looking for coins to slab and resell, then why bother? I have bought several rolls of the Presidential dollars from the bank without paying a premium only because it is the first year. I don?t plan on buying three full set of Presidential dollars like I did the quarters. The quarters are for my grand kids and not for sale. Oh, I did buy a full year of eBay graded 70 (SGS) before I knew better. I think we have gone overboard on ?errors?: an extra ear of corn, position A and B, a spear in the buffalo or a missing or short leg. That is just not for me. On the Adams dollar, the price has soared from $600 up to $2,000 for not stamping the rim. Those error prices have nowhere to go but down.
Just my thoughts, Dave.
Jay Russell
Land O? Lakes, Fla.
In reference to your question, yes I do buy state quarters both in bags and rolls. Even though they charge a premium price, I started collecting these coins when they first came out and found it easier to buy them direct from the Mint rather than try to get them from a second-hand dealer. The one I had in my area closed, so I found it easier to subscribe to the Mint service. I also give them out to my 35 great nieces and nephews as I started a collection for them several years ago. It?s fun ... pricey, but fun.
Richard G. Hoover
St. Petersburg, Fla.
Yes, I buy quarters by the roll.
Ron Stevens
Kansas City, Mo.
I buy state quarters by the roll but not from the Mint. I buy them from an online business. It is cheaper.
Mary Madis
Blacksburg, Va.
Yes, I most often buy my Statehood quarters from the U.S. Mint. Usually two to four rolls at a time.
William H. Frisco
Plymouth Meeting, Pa.
In response to your questions on state quarters, I am buying the 100-coin bags (one from each mint) and the two-roll set from the U.S. Mint.
William Cox
Knoxville, Tenn.
Yes, I buy quarters from the Mint. I get a two-roll set every time a new one comes out. I also pick up a couple of rolls from my bank. All I can get is Philly rolls in Florida from the banks. If I could get Denver rolls here, I wouldn?t have to buy them from the Mint and would be able to save my money for buying my last needed Lincoln cent, the ?09 S VDB.
James McFadden
Clearwater, Fla.
My bank is very accomodating and has the quarters and new dollars in stock. They may limit the number of rolls each customer can purchase the first week, but after that you can usually get as many as you want. I have no reason to pay a premium, let alone postage, when I can support a local bank that cares about its customers more than the Mint does.
Kelly Finnegan
Spanish Fork, Utah
No, I do not purchase state quarters directly from the Mint.
Mel Kassenoff
West Orange, N.J.
