Speaking on the subject of gift ideas for the holiday season [if you haven't been to my online store yet you should check it out] there is the question of the President Obama commemorative items that are for sale now.
I have heard that newspapers announcing the win of President Obama can be found on eBay selling for hundreds of dollars each. And there was no delay in commemorative plates and coins and other items to hit the airwaves since the election. You undoubtedly have seen at least one of them, like this from the New England Mint
Note that the key words in this ad are UNCIRCULATED. That is because they are not sanctioned by the U.S. Government. In fact they are not legal tender (no currency of the United States may bear the likeness of a living President by law). Thus they have NO VALUE.
Now I am not saying that the election of President Obama is not historic. Nor am I saying that in time these items might gain value. But I am definitely saying that the $30 or $50 dollar value that the commercials postulate is arbitrary and a sales gimmick. The true value, in my opinion, is the price you purchase this for - if not less.
Like most collectibles, especially coins, the value comes with time and rarity. Adding to that value is the official use of the coins. A silver penny has a value because it was real, was in use, is now rare, and is old. These commemorative coins are none of these things. Even 30 years from today they may not gain value, or even in 150 years.
That is not to say that there is no symbolic or sentimental value. I know that my mother wants one of these coins, just because it is something in history she never expected to live to see. So in a way for her this is priceless. And there are millions of other African Americans that feel exactly the same way. So a $10 gift is worth far more to her.
But for those that wish to buy these coins with the hope of an alternative investment, don't get excited. You will likely never sell these coins for more, or even as much, as you paid for them. A purchase beyond your desire to have a symbol of an historic moment in our nation is a waste of money.
Just keep that in mind as you watch these commercials and the holiday season goes on.
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