I went to the bank yesterday to deposit some checks, and I picked up two rolls of the new Presidential $1 coins. There are 25 coins in a roll, and you pay the bank $25 for each. That seems to make sense. What doesn’t make sense are the people paying upwards of $35 for each roll on eBay.
Considering most eBay sellers overcharge for shipping, you could be looking at a 50% to 75% profit on a product that can easily be found for face value. Maybe I’ll pick up more rolls next time I visit the bank and list them on eBay.
If anything, there’s the possibility that some of the coins will be in a condition good enough to warrant grading and could be sold for more than $1. If the roll I opened is any indication, the mint rolls contain coins that are not in “mint” condition.
Published or updated February 11, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @ConsumerismComm on Twitter and visit our Facebook page for more updates.