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January 20th, 2009

Invest Wisely, Avoid Presidential Coins

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While the presidential message of “change” has been permanently ingrained on this latest bid for the White House, advertisers are engraving their own marketing ploy on change itself. Presidential coins are the subject of MarketWatch’s columnist Chuck Jaffe’s “Stupid Investment of the Week.”

Jaffe’s commentary focuses on “characteristics and problems that make an investment less than ideal for the average consumer, in the hope that focusing on the flaws in one situation will make those trouble spots easier to find elsewhere.”

This historic presidency has initiated a lot of hype and excitement. Yet, consumers looking to take advantage of the historical event by investing in collectibles, especially presidential coins, will see no significant return on their investment, says Jaffe:

The Obama coins present a true cautionary tale for consumers and investors, who all too frequently confuse sentimental value with real historic, collectible value.

With his election, an industry was born, and while it extends beyond coins to plates, stamps, poker chips and other items, the coins have gotten some of the most widespread attention.

The marketing premise here is very simple: The mint that makes the coins takes advantage of na├»ve consumers who don’t recognize that, from a numismatic standpoint, the specials are worthless.

As the economic environment continues to sour, don’t be fooled by the change you don’t need.

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One Response to “Invest Wisely, Avoid Presidential Coins”

  1. Dan Says: January 20th, 2009 at 2:26 pm

    Hello,

    I run the site BankVibe.com and was wondering if you would be interested in exchanging links. I only deal with bank cd rates, savings rates and money market accounts so we wouldn’t be stepping on each others toes as far as targeted traffic goes.

    I think this could really benefit the both of us, let me know either way. Thanks!

    Dan
    BankVibe.com

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Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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