Don't want to be that new guy who floods the boards with questions but I am still kind of excited. Dad left me literally THOUSANDS of coins. And a local dealer told me the mint stitched sacks of State coins....omg this music playing through my headset is awful...and nickels were worth only face value so I decided to open them and found this after like $140 dollars worth of nickels. AI am learning about cuds, planchet things and doubled dies. The exam included in the top post isn't working so I am guessing here to test my knowledge. This is mechanical because the mint mark and the letters/numbers are doubled?(assuming I am not insane and it is doubled)
Mechanical? Do you mean Machine Doubling? This is a common occurrence with these dates. You have a good eye for detail!
Thank you! While I was always a collector of comics (over 5k) dad and his great aunt collected coins. So now I have this massive collection I am enjoying going through. Will do Captain! Thanks.
Welcome to the neighborhood, Matthew! If you're referring to bags of State Quarters, I think the Mint offered them in $25 bags by state & mintmark (P&D). At least that was all that I was able to get. The images of the nickel look like machine doubling which is very common and not worth a premium. Chris
Here... try this and compare the different types. It may be one or the other, or perhaps both, but it'll be a leaning experience either way. http://doubleddie.com/144801.html
Is that a 2004 nickel? There is a doubled die for one of those nickels. I think it is on the reverse though. The mint may have sold bags for those nickels. That's where they went to making Jefferson a statesman to some little dutch boy. No offense towards Dutch boys.
The quarter and nickels in those bags are worth more than face value. The mint sells those coins at a premium. I don't think I would trust that coin dealer if you decide to sell some of your coins.
Unfortunately, just because the mint offers them at a premium, this doesn't mean each coin from such a opened bag is automatically worth above face. Additionally, one certainly cannot expect a dealer who wishes to stay in business to be paying up for such material.
I wasn't suggesting the dealer pay an unreasonable price for the coins. Even if they are modern coins, they are still uncirculated from the mint. I could see a dealer paying 3-5 times the amount for the entire bag. That is not much more than the mint charges. Anyone that collects modern coins would pay face value for an unopened bag of nickels or quarters. If the bag had been open than of course face value is reasonable.
If the "bags" came from the Mint and have black markings of their contents, you may wish to sell them as they are collectible. Call me Jack the hoarder.
3-5x face for a nameless bag of state quarters (or "nickels") wholesale? That's exactly what you're suggesting, and I'm sorry to say it, but is ridiculous. The man, at best, can only pay what the market will bear minus a modest profit for himself which, like it or not, puts it right around face, and this isn't taking into consideration the fact that such material is usually in the same category as 70's PR sets. Just because, as you say, any modern collector would pay face, this does not mean they're going to pay multiples of it for the bag itself no less individual coins that came from once opened. Unless things have changed drastically over the last few years, if this gentleman was openly willing to pay such prices, he'd be up to his neck and then some in bags he'd either have to sell at a loss or take with him to the grave. With all due respect, sir; I realize you mean no harm, but you're suggesting this new collector not trust this dealer based upon a false assumption. The fact is, and contrary to what is often spewed here, a good dealer can be infinitely valuable to collectors, and this is especially true for new ones, so while your heart may be in the right place, you're doing the OP a disservice. We may not know this dealer, but from what we've been told, there is absolutely no reason to question his character.
This is pretty much what he said. My understanding is the Delaware bag of quarters fetches a bit more because they are the *only* bags with a different type of writing stamped on the bag. The guy is nice, dealt with my dad for years but he laid it out like this. Dealers can't pay a premium for these sacks, by the time they invest in sorting through the, casing them, listing them, the space to display them and some other things I can't remember it wouldn't be worth the MAYBE .40 he can make on each quarter or nickel. His logic seemed on point to me. And while I know I am not supposed to really do my own *research* for values online the bags are selling at $5 above what they sold for so he may be correct. And they aren't even selling tbh.
Ok, let me apologize to the dealer that only wanted to pay face for the coins. I apologize for calling you dishonest. I didn't mean it in a thieving way. I should have used forthcoming. That would have been less offensive. Again my apologies. As far as the coins I would still pay you 3x-5x the amount of the unopened bag of nickels. My original post was early and I failed to mention the nickels. I would have bought all the bags if you had all eight bags of nickels minted for 2004-2005. After I sifted off the good ones, at least 1-2 bags would have had a new home the next day. And you would be my new customer also. I would have tried my best within reason of course to buy your coins. Reason is not face value. You could have gone to the bank and done that. I bet you haven't been back to the coin dealer. State quarters are usually not something people collect one coin of. People mostly form sets with these coins. As a dealer I may not have the existing stock to sell sets of these coins to buy one or two states worth. If I could buy unopened bags of all 200 circulating coins minted then maybe yes. Now if you brought me bags of the state which the shop resides in, then you're talking a whole different ballgame. I most likely would have bought those at a premium. My coin shop here where I reside advertises on the radio. I get free silver eagles from time to time visiting their store. They send out emails every week with specials. So, yeah I would pay for your unopened nickels, and maybe the quarters, depending on my stock or the states offered. One high school kid, a car, some fliers and some nickels. Sounds like a cheap advertising month to me.
