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Collectible Coin vs Just Money


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In cataloging Dad's coins, I have a bunch of pennies, nickles, dimes & quarters. I find myself questioning the logic behind collecting some of these coins. For example, in one box, there are 143 quarters. Dates range from 1930 to 1989. Many of them have been heavily circulated and the grades can range from poor to an MS 63 (I hope). Is there a grade point in which they just become spending money? I would think that with dimes and quarters issued after 1964 are just money if they can't make an MS grade. Nickles would be after 1947 and pennies/cents would be after 1958. Unless, of course, the coin had some kind of "quirk" that made it different from the others.

 

Thanks,

 

Linda

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What it boils down to is what level of quality are you comfortable with collecting and paying. If you are happy with XF coins and can't afford or see the reason in owning AU coins, that's fine. Most of this is just a personal thing. A good percentage of coinage that is not silver can still be found in circulation in various grades. I've found quarters from the later 60's that would grade AU at worst and quarters from the 90's that would barely grade G.

 

I have no problem paying $1 for a 1967 quarter in XF-AU condition because they are becoming harder to find in circulation. Same goes for all other denominations.

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Not really sure why your dad was collecting that way. I can only assume maybe he was trying to get quarters from every year. Same with the cents, possible memorial cent collection. And the same with nickels

 

You are probably right. Plenty of the clad coins in my 1900-present set are XF/AU coins plucked from circulation.

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Back to the question, I guess it really depends on two different groups, which are obxious people and collectors. While you can get obxious people happily spending "collectors" coins away, collectors would be gleaming with joy.

 

Suppose, if you have a bad kid and saw his dad's massive collection of coins. Of course, he wouldn't know what kind of dates are rare etc, unless he did some kind of research. So one day, when his dad decided not to give him pocket money, the kid decided to "steal" from his dad collection and spend them. Now, that's not an unlikely situation is it? :ninja:

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Suppose, if you have a bad kid and saw his dad's massive collection of coins. Of course, he wouldn't know what kind of dates are rare etc, unless he did some kind of research. So one day, when his dad decided not to give him pocket money, the kid decided to "steal" from his dad collection and spend them. Now, that's not an unlikely situation is it? :ninja:

 

I think that tends to not be all that unlikely at all.

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Here's my point of view and my frustration.

 

In Dad's collection, there are:

+/- 1,000 loose coins and coins that are in rolls and 2x2s with no grade. These coins consist of cents, nickles, dimes, quarters and some halves and some Morgan, Peace & Eisenhower dollars . I have sorted these by type of coin and listed them in a spreadsheet.

 

This does not include:

graded & ungraded coins in 2x2s (Morgan, Peace & Eisenhower and more halves), Sacs & Susan Bs, Silver American Eagles, Gold American Eagles, Mint sets, proof sets, commemoratives, Special Mint sets, tubed coins(plastic rolls) and another box of coins I haven't even checked out yet.

 

I am so overwhelmed by it all. When I look through the loose coins in the first group above, I feel like I'm looking through Dad's rummy money. I have read the Red Book and many articles written by Stujoe and visited this and other forums and gained a tremendous amount of knowledge. I know that I can pick out errors and DDs if they are blatant but other than that, I don't have a clue. So with respect to the first set of coins, I don't feel that in the time I have left to dispose of Dad's collection (13 months) that I can examine, attempt a grade/value, photo, etc in an attempt to sell them individually. I know it sounds like I'm taking the easy way out, but the 2nd set of coins will present it's own set of challenges for learning and processing.

 

In coming back to my first post in this thread and some of the responses, in the first bunch of coins, if I pull out the Dollars, is there a market for the rest if I were to sell them by type? And where is that market......coin shop, ebay, or where? I have an uneasiness about plunking some of them in a vending machine even the 70s & 80s coins.

 

Thanks

 

Linda

 

PS. I think my Dad was not very knowledgeable or systematic in some of his collecting. He purchased some coins and others he obtained as payment in gambling and other debts. Maybe that's why there is no logic that can be applied in what is in his collection.

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Basically, anything that is silver has some value and can be sold, either at a dealer or on eBay etc. Cents before 1959 (i.e. wheaties) can be sold by the roll. Nickels are a crap shoot, I save anything before 1960 when I encounter them in circulation, but not many people will pay more than face for a 1957 nickel. Before 1950, you can probably sell them by the roll. Ike dollars can be sold by the roll. SBAs you could probably just spend. Mint sets, proof sets, silver and gold eagles can all be sold. Any prior type like Indian cents or Buffalo nickels can be sold. Just about everything else could be spent. Hope this helps.

 

PS- If your dad's collecting style seems odd, don't worry, that is actually normal for us collector types! I spend most of my collecting money on US classic gold coins, yet if I get an old nickel or a particularly nice coin in change, I save it. Just the other day I found an unc. 1973-D cent on my desk and wondered where it came from. :ninja:

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My best guess from what I usually see is unless there are any key dates in the other coins the dollars are going to be the bulk of the value of the collection. Go through and pick out the silver coins..... wheat cents for common date circ ones go for $1-$1.50 a roll...if you are planning to sell at a coin shop I reccomend you get the bluebook....

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Well.....maybe he was thinking that they would be worth somethin in a 100 or more years. I wish my dad,grandfather, grandfather,and grat granddads had saved there coins. I am. Especailly silver and I hope to get some coins from Lebanon and Syria. My father inlaw was from Lebanon and my great great grandfather knew Jesse James.

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