2005 Buffalo Nickel Question(s) - Page 2

jd3681 · 04-16-2005, 08:17 PM

I spoke with a couple of dealers in my hometown because I wanted to put some of these nickels away for my two young grandsons. They both told a different version of the same thing:
1. The first who has been in coins for well over 30 years said that he feels that the nickel won't hold up in circulation. When I asked him what he meant, he said that he felt that the nickel would wear down quickly and that the uncirculated nickels would attain value quickly.

2. The second dealer told me that he thought that the nickel was very sharp and he said he wouldn't be surprised if someone actually cut themselves on one of them. Then he laughed and said that they could sue the mint and the mint would discontinue the run.

Don't have a clue with the validity of these statements, just thought it wan an interesting add to this thread

JD

**GDJMSP** · 04-16-2005, 08:41 PM

Quote:

Originally Posted by Spider

its wasnt outta a complete buffalo roll, a mixed roll, but maybe ur right

I understand your point Spider and you may well be right - it may be circulated. But where or how you find a coin is not what defines whether it is circulated or not. Any coin that does not show wear - is uncircualted.

It doesn't matter if you get the coin back in change from the grocery store or right from the mint - as long as it does not show wear - it is Unc.

QUEENKOIN · 04-16-2005, 08:59 PM

Quote:

Originally Posted by GDJMSP

I understand your point Spider and you may well be right - it may be circulated. But where or how you find a coin is not what defines whether it is circulated or not. Any coin that does not show wear - is uncircualted.

It doesn't matter if you get the coin back in change from the grocery store or right from the mint - as long as it does not show wear - it is Unc.

I disagree, a coin in circulation is circulated by definition, even though it may grade Mint State....

Spider · 04-16-2005, 10:24 PM

yes i agree with u Lucy (i think thats ur name)
u must directly buy from the mint for UNC, and nickel shipped for circulation becomes circulated automatically, once it touches a hand meant for spending BOOM!!! circulated, come on GD im ready for u

bring it

crystalk64 · 04-17-2005, 12:24 AM

I am afraid GDJMSP is correct on this one. Lets say the cashier just busted that roll of nickels open into her drawer. It is still a new, never circulated piece, and if you handled it correctly it still will NOT have fingerprints on it. If you want a circulated coin put it in your pocket and carry it with your other change for a few weeks and then there will be no doubt about what it is. Until it shows signs of wear it is uncirculated and still a mint state coin! QueenCoin you would probably be shocked at how many uncs. you currently own (modern coins) that left the mint and then the Federal Reserve that are uncs! And remember coins are now shipped out of the Mint in HUGE bags that can hold literally millions of coins and they are all shifting around during transit. Then the Federal Reserve or an armored car service get a hold of them and dump them in to counters or wrapping machines, then boxed and shipped again but they actually still haven't been circulated so cracking a roll into a cash register doesn't warrant a coin being circulated. Wear, dirt, grease and grime does!

Moen1305 · 04-17-2005, 04:02 PM

All this talk of the popularity of the bison nickels has me still wondering what I might value my proof bison nickel at that has a fairly promiment strike-through error on the reverse. It's an intriging error because it shows up well enough but isn't large enough to spoil the beauty of the coin. I have never sold a coin in my life and I don't want to stick this on ebay with an outragous minimum selling price just to find out what it might be worth. I've written to several coin dealers and not one of them has really given me any idea of the coins worth. Error coins aren't their main business I'm told.

The limited production of the bison coin and it's popularity and the fact that mine is on a proof coin, should make this coin more valuable than the "average" proof error coin(if you can find one at all). I may need to just start going to coin shows to really get a true estimate of it's value. Any other suggestions?

**GDJMSP** · 04-17-2005, 04:15 PM

Have you posted a pic of this Proof error yet ?

Never mind - I found it and posted a reply in the Error Forum. Weinberg may not be a bad idea - send pics to him and see what he says. Couldn't hurt.

QUEENKOIN · 04-17-2005, 04:19 PM

Fred Weinberg maybe of assistance to you in this fascinating area, the world of error coins. Here is his website:

http://www.fredweinberg.com/

QUEENKOIN · 04-17-2005, 12:48 AM

I still disagree, even in the above scenerio they entered circulation and they got handled therefore they are circulated, though they are still Mint State....

a cash register does indeed warrant circulation just as a change machine would, the coin now becomes part of commerce.

Wear, dirt, grease amd grime are the next stages of circulation.

But I know Mint State coins ms65 can be found in circulation...

Take GDJMSP for example, how long has that cat been in circulation? Yet I grade him Ultra GEM MS67FM+ and probably a MS68!

crystalk64 · 04-17-2005, 02:57 PM

Yes, the counting machine can and will mark up the end coins in a roll and leave them very undesirable. I always look at those coins as "protecting" the other good ones in the roll! Takes the sting out of it!

crystalk64 · 04-17-2005, 03:03 PM

QueenKoin, let me try to put this into prespective. Have you ever gotten a PROOF coin in a bank roll of coins? I have, quite a few times, and the coin was still immaculate and then, on ocassion, the coin had damage! They are both still PROOF coins but would be graded according to their respective condition. Well an uncirculated coin is still MS until it can be judged to be less than that and dropping it into a cash register is NO worse than the Mint" money counter spitting them into a huge bag, or the constant shifting in the back of an armored car while in that big bag. Business strike coins are NOT protected at anytime after production and that is why so many collectors focus on high grade coins as they can be rare compared to what we usually see come out of a roll or bag. The final grade of any specific coin determines whether or not it is circulated or uncirculated ----not where or how you found it!

QUEENKOIN · 04-17-2005, 03:38 PM

We have to agree to disagree, as there is no convincing me, any coin that enters the system so to speak and is handled and exposed such as a cash register has now entered circulation and is circulated. It is that simple.

Quote:

Business strike coins are NOT protected at anytime after production and that is why so many collectors focus on high grade coins as they can be rare compared to what we usually see come out of a roll or bag. The final grade of any specific coin determines whether or not it is circulated or uncirculated ----not where or how you found it!

I am probably the last person here you should try and lecture about buisness strike coins and why collectors focus on high grades. As one that is a regular submitter and one that assists people with Registry sets and actively seeks raw coins in a attempt to get them into GEM grade holders, I probably have a clue in this area.

The final grade of any specific coin is determined by its state of preservation, and I agree no matter were you find it, thats what i have been saying as many Mint State coins come from circulation. And sometimes a AU coin comes from a mint set, such as the case with a 61 Frankie I submitted years back, I cut this coin from its original packaging and it came back AU58, somehow the coin had rub that I missed as I examined it.

And the proof example holds no water, as you now would have a proof that entered the system and is now a circulated proof, yes its still a proof and not because of condition as you imply but because of specific minting techniques and planchet preperation for these coins.