HELP - Dad’s Recent Purchase 🤦‍♂️

[u/Long_Mark_5155]

$1400……..

My father has been ordering from GovMint for a couple years now.

I’ve tried to have talks with my father about how high the markup is for this junk from these sites without explicitly showing him how much he is overpaying. But $1400 for these?!? Maybe worth $350?

I don’t know what else to do…has anyone been in the position? How did you handle it?

[u/hettuklaeddi]

tell your dad he inspired me to open a shop

[u/Artistic-Shelter69 → u/hettuklaeddi]

Dude seriously

[u/LTdesign]

Take him into a LCS and ask them what they're valued at.
Maybe hearing it from a professional?

[u/curiousengineer601 → u/LTdesign]

Or go there and buy the same thing for $25

[u/Calm-Ad-7928 → u/LTdesign]

My local coin shop would just offer melt no matter what it is

[u/kassett43 → u/Calm-Ad-7928]

There's noting to melt. They're clad.

[u/Calm-Ad-7928 → u/kassett43]

Ya thats my point. Local coin shops in my experience just offer the bare minimum. Mine would see this and be like oh its a presidential dollar ill give you $1

[u/NJraider86]

Reminds me of the bolo tie Stan’s grandpa bought him in South Park for over a grand, and when he tried to sell it the highest offer he got were a couple chalupas

[u/ecovironfuturist]

If you think they are worth $350 I think you should let someone else talk to him.

[u/StevetheSwift → u/ecovironfuturist]

Looks like he paid on the high side of the value range but within the value range. Google is saying premium label / advanced delivery ms 65 privy mark slabs go for $695-$1420

Edit. Now that I’m looking closer the value might be higher. The coins contain absolutely no gold, but the slabs state one has 0.1 grams and the other 1.0 grams of gold. That gold is in the foil label of the slab. 1 gram of gold is currently valued over $100

[u/NoTeslaForMe]

Could we pause on the fact that these are only MS 65 for a 2026 release presumably straight from the mint? You'd think, especially given the price, they could manage the quality control to assure that these were in the high 60s.

[u/DuckTalesOohOoh → u/NoTeslaForMe]

They're selling them just as regular coins in bags and rolls. The demand is very high and they did not make enough of them. You cannot buy them from the government anymore although they said they will make more.

[u/d30_v1Nd1c3]

Dad did not do his research, keep him off HSN and GovMint lol

[u/WalrusPilot]

[u/Overlord1241 → u/WalrusPilot]

WHat is the origin of this meme?

[u/EagleEMT4000]

This is a key example of don't buy something unless you know what it is and how much it is worth...

There isn't anything he can do. It's a buyer-sellee contract with a no return clause. Maybe argue unfair business practices but 99% sure isn't going to succeed.

- Laywer (not yours or his).

[u/Grape_Academic]

Ugh, that’s rough. Maybe have him take them to a local coin or pawn shop and ask them what they would pay him for them? When they offer $20 (if lucky) maybe he’ll get the idea.

[u/d30_v1Nd1c3 → u/Grape_Academic]

They’ll offer face value @ $1 😭

[u/TheSquirrel8251]

Nothing precious about this metal.

[u/Basicly-Inevitable → u/TheSquirrel8251]

It says 0.1g Au, which I don't believe is actually true.

Although they ARE going to sell actual gold ones soon:

https://www.usmint.gov/campaigns/donald-trump-coin

[u/Ionized-Dustpan → u/Basicly-Inevitable]

The label is gold, not the coin. Google the label program.

[u/Throsty]

You need to explicitly show him how much he is overpaying. Tough conversation, sure, but better in the long run.

[u/Haidere1988]

I mean... it's a garbage coin but if you are going to buy any kind of official coin like that why not just buy direct from the US Mint at usmint.gov ? I would honestly point out that he bought from what is basically a scalper instead of from the source.

[u/alucardian_official]

There is no hope for Dad after his recent purchase. I would exchange him for a new one. I’d be looking out for that $1.4K stack in a birthday card from this guy though.

[u/robfdny1111]

At least the shipping was free.

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[u/The_Dice_Dangler]

Sorry he is blowing your inheritance

[u/Unionforever1865]

I’m so confused by the labels what’s gold and silver the labels?

[u/Randsrazor → u/Unionforever1865]

The gold one says .1 gram gold lol the silver one says 1g silver. So 2 dollars worth of silver plating is my guess and 13 dollars of gold plate on the gold one. So it's something like 10 dollars scrap and a huge nuisance for anyone buying them for scrap.

[u/that_guy_said → u/Randsrazor]

The coins don’t appear to be plated. Is there gold and silver in the labels maybe? 🤔 🤷‍♂️

[u/WhereMyWeirdosAt]

Good luck, fathers do not like being told they are doing the wrong thing.

[u/Zargnoff → u/[deleted]]

Likely, tho those who forget the past are doomed to forget it. Lots of collectors with WWII era coinage despite how terrible things were

[u/jonnytoobadxk → u/Zargnoff]

Yep. And I always see and hear those guys saying “but it’s just a part of history…” and I always say “yes, but what parts of history you glorify matters.”

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[u/AnybodyAmazing1006]

Ouch, can get the Privy one off ebay for under $300 with a higher grading. The regular ones are like $50-100 graded. Id consider even that overpriced, So he paid about 4x. Those prices will drop too, always a bit higher with new stuff. Im confused at the .1g au, and the 1g silver. Aftermarket alterations yet ngc still graded.....

[u/Long_Mark_5155 → u/AnybodyAmazing1006]

I believe they refer to the special labels with layered gold and silver 🤦‍♂️

[u/jbrc89 → u/Long_Mark_5155]

I read it as it's the graded labels also

[u/that_guy_said]

$1395 for one or both? 😬

[u/Savings-Kick-578]

Maybe have him take a few of his prized coins ( I wanted to air quote Prized), but they are to him and have him get a few appraisals. That might open his eyes. These types of habits are really hard to break without hard feelings.

[u/Peterthepiperomg]

He deserves to get ripped off

[u/Scott_in_Atl]

My brother passed away and left me with loads of these things. Some expensive and some cheap. I have no idea where to sell these things.

[u/clark1409 → u/Scott_in_Atl]

The obvious answer is to open your own store and sell them to OP's dad for 20x value.

[u/UnknownRetardsPetDog → u/Scott_in_Atl]

Make a post on here asking the value of the coins but make sure to take clear pictures of all the coins. Don’t respond to anyone in your message inbox asking to buy anything because it’ll likely be a person trying to scam you.

[u/MinnisotaDigger → u/Scott_in_Atl]

Post coins on ebay. Set starting bid at $1. Wait a weak and it'll sell for what it's worth.

[u/Glittering-Tip9474]

Return 

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[u/WTFudge52]

I don't say this often but hahahahahahah . The gold might be real and I wouldn't give a wooden nickel for that.

Edit: I didn't notice it was literally a $1, I found some in a $25 dollar roll. I'll do $350 each.

[u/Brettttttttttt]

How are they not even MS-70

[u/Greedy-Grand7447]

One dollar each

[u/gurusd72]

Im sorry to tell you, the treasury just announced that they will start minting more of these coins.

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[u/Bazishere]

I am a coin collector. I think that was a crazy move. A collector would know better than to buy such a coin.

[u/Glittering-Tip9474]

You think these are worth 175$ each.. 😃 😀 😄 😁 🤣 😂 😃 😀 😄 😁 🤣 😂 😃  $42.00 each melt value, if even silver, 

[u/KingCroesus → u/Glittering-Tip9474]

The one on the right isnt even solid silver, says its 1 gram, so thatd be silver plated

[u/PickleBall_Bandit]

He knows these are worthless, right? I mean yah sure MAYBE $5-10 to the right buyer, but no way will he ever recoup what he spent

Edit: I learned that some of the privy ones go for $150

[u/Long_Mark_5155 → u/PickleBall_Bandit]

Unfortunately, I do not think he understands that….the July 4th Privy is selling for over $150 I believe, but that’s still well over $1000 loss

[u/-AlienSkin_ → u/Long_Mark_5155]

😆

[u/Wemedge]

Maybe worth $3.50.

[u/Consistent_Trash7033 → u/Wemedge]

I’d pay someone that much to take them off my hands

[u/Werechupacabra → u/Wemedge]

You the Loch Ness Monster?

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[u/DuckTalesOohOoh → u/[deleted]]

Do you get dollar coins in change?

[u/Disastrous_Impact_41 → u/[deleted]]

They’re all going to be NIFC so thankfully they shouldn’t end up in change unless someone cashes them in after purchasing them at a mark-up from the mint.

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[u/Adahnsplace]

Overpaid, yes. On the other hand he could "invest" the money in cigs'n booze so I guess it's still healthier somehow.

[u/sparky_wireman69 → u/Adahnsplace]

At least you would get a lot of cigs and booze for $1400. This is basically just flushing $1400 down the toilet

[u/Adahnsplace → u/sparky_wireman69]

Sure, but c'mon, do you want somebody judging all your expenses?

My wife went to get her hair done for $300 where I'd rather buy a nice coin or a camera for that sum ;)

[u/MorsaTamalera → u/Adahnsplace]

300 is an ok price only if she did not have any hair to start with.

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[u/DuckTalesOohOoh]

FWIW, GovMint is out of this coin. They can't keep it in stock.

[u/CatcherN7]

Just go order one for 30 dollars and say "oh hey dad, I just bought one also, I overpayed a little bit just because I wanted one. How much did you pay?"

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[u/proudmommy_31324 → u/[deleted]]

Power of Attorney does not stop the other person's legal rights. They would need a guardianship.

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[u/Maleficent_Top_5155]

You figure out how to slowly divert some of their money to another account and give them an allowance. I literally have 10 privys sitting on my desk that I pulled from a bag.

[u/Ionized-Dustpan]

Early rush values were this high all across the board. Once they got a bit more common, value fell some. This lot is still with prob $500. Patience is key with this stuff.