I heard that government is collecting $1 coin ?

Question

I currently have some new $1 coin that without "In God We Trusted" words. Do bank collect them for $50 each. If they do, I would make $1000 because I have around $20 of them.

Answer 1

Banks do not buy coins in the sense you mean. The ones that are selling for $100 and mostly up like $200, have no lettering at all on the edge of the coin. The legends were put there, to leave the obverse and reverse clean and more artistic. The mint mark, date, as well as In God We Trust and E Pluribus Unum are on the edge.So you need to look at the edge to see if it is missing. It was never on the front (obverse) or back (reverse). If you have some, then go to a coin dealer. Hope this helps.