Why do we get some many non and new collectors posting common cents on our boards?

I think I have the answer. When I was young collector in 1960s, finding Lincoln Cent dated from 1909 to 1920 in circulation was sort of exciting. People claim that they found Indian Cents in the 1960s, but I never did. When you think about it, those coins were 50 to 60 years old, and that sounded “ancient.”

Today when a person posts a cent from the ‘50s and asks if it’s worth anything, most us don’t think much of it, even when the coin is Mint State or close to it. But when you think about it, those coins seem to those people like the old Lincoln and Indian cent seemed to us in the ‘60s. Furthermore, those coins are all 60 more years old and look to be in nice shape. So what happened?

The difference is how cents have circulated in the last 50 to 60 years. Today you can’t buy anything for a cent. All they can do is make change for sales tax. Some people have been filling big jars with cents for years. Every once and a while they will take them to a coin counter or roll them up by hand to be turned into cash. For that reason, they hardly circulate which give them few chances to get any wear. If anything is wrong with them, chances are it’s corrosion.

Back in the early 1900s, cents saw a lot of use. They are were used during the Great Depression when almost everyone was short of cash and could barely put food on the table or keep a roof over their heads.

With the modern cent from the ’50s to the present, it’s huge mintages and very little use. Therefore they are worth very little despite their age.

 

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@johnmilton

One of the biggest problems is that too many of the new collectors are receiving their "education" on BoobTube channels. Granted, there is some good information, but there is also a lot of crappola spread around just so some videophiles can earn "points". They don't care about the accuracy or completeness of their information.

The other problem we have is that many of the new collectors think that die chips, die cracks and grease-filled dies are something special and should be saved. There are also too many doubled dies that are so minor that you need a Hubble telescope to find them. If these new collectors had to spend the money to submit them for grading and attribution, they'd learn the hard way what a joke it is.

There are some of the better-informed members here who try to "clue them in" but it gets rather tiresome and tedious to have to deal with them day after day after day after day. I really wish that CT would get rid of the "What's it Worth" forum because most of the threads are about junk coins worn out from circulation. These people don't care to learn how condition affects the value of coins. "Show me the money!" That's all they think about.

Chris

 

I agree with you. The other reason is they read garbage like “Get Rich With Pocket Change” and watch YouTube videos posted by assorted idiots.

 

Another problem is using all of this super magnification. You tell them to use 5x and they ignore you and plow on.

 

Too many fools who should find another hobby.

Chris

 

I won a small lot of Indian head pennies in pretty nice condition....mostly common dates, I was talking to a guy at the last coin meeting about retuning them into the wild....just for fun.

 

Because P.T. Barnum was right.


Yes, I know there's no concrete evidence he ever said that. Don't go there.

 

There have been a half-dozen or so just today. Here is the latest one....

https://www.cointalk.com/threads/what-are-they-worth-multiple-coins.336035/

 

We have a few young folks here who obviously want to learn how to do it right and have demonstrated the patience to do so.

Most of the rest of them either lose interest when they realize they’re not going to make a killing — or want to argue.

 

Just today! "Floating roof" and "No FG" is something special. Yeah, right!

Chris

 

Unfortunately a lot of it is generational and it’s entirely us old guys fault. We created an entire generation that doesn’t understand having something lasting and meaningful. It is a disposable age. Young folks trade jobs as frequently as I change socks. And it’s the same with our hobby really. Something that doesn’t immediately entertain or reward is set aside these days.... However being on CT and watching the enthusiastic younger members here always makes me feel good.

 

If these new collectors are reading coin books about how to make money on coins, why are they asking some many obvious questions when they should should have researched their coins in question? EXAMPLE! (A GUIDE BOOK OF UNITED STATES COINS)!

 

I think they went to You-tube for regular young people things....cats and cucumbers, how to cheat on a scantron, how to hotwire a car with your cell phone, and fell under the sway of free money for coin trash. I think as a kid I sent away a dollar for water fairies ( shrimp eggs). The new generation has been told how successful they can be, but being unable to do so can be sad as well as tragic. Failure is never fun whether it is in family, school, work, marriage, etc. Hopefully enough will succeed to raise the whole generation up as the next one will possibly face worse odds of success. I am glad I am old most of the time Jim

p.s. when I was in HS and went to the small town library , there was a 4 ft shelf on the coin section. now 6" or so.

 

Many newcomers do not try to research anything on their own.

I went through most of my education at a time when we had to actually go to a library. We hunted for books that might contain what we needed. I remember preparing for a 'contest' and the student I was up against had left a little piece of paper in a thick book at the place where an article that was important to my position was found. The paper said: "Hey! What took you so long?" That set me off on an attack of giggles and snorts that was hard to tamp down.

I guess my point is that with Google and all the resources on the Internet I get a little testy when people come asking questions that clearly show they haven't even tried to search for an answer. To me, our experts' time and knowledge are precious and I don't want them to get worn out or weary.

 

Me too Jim....

But I'm 'young again' sometimes, and it's the younger crowd that helps to sustain me. Stupid questions and lofty ideals are a part of youth. The 'draw' to make quick money is a part of it. Heck, who can resist? The fact is that older folks have the scrapes and bruises associated with the learning curve. Give 'em time folks. They'll come around.........

 

Yeah, that's why I take the trouble to teach college students science...they want to succeed but often was let down by the lower grades. Jim

 

Maybe it would be possible for new comers to have a thread or place of their own to post their questions. This would provide a place so people that do not like helping these people out, can just ignore the questions that are asked. Why belly ache and wine about something . If you do not like it ignore it . I know how irritating some can be but we all know about all the garbage about getting rich on a common cent you can find in pocket change. The great thing here is they are going to hear the truth whether they like it or not. Coin Talk has provided great info to many new people,and others that inherit a coin collection . This info provided helps these youngsters from getting ripped off , and the same for the people that inherit a collection . It is sad when grandpas collection ends up in a less then honest dealers hands that could care less. Thank all of you that take time to help these less informed people make good decisions , they may be the ones buying your coins when you go to sell down the road. Dillan

 

My college grades 'stunk'........The jury is still out about my after the fact shenanigans, but I do think I've done rather well.

Just ask my wife......

 

The funny thing is there is so much finger tip information on the internet, even if someone is afraid to look in the book!
When I was a young boy I used to ask my Grandfather questions and he always replied. "Anthony you must look in the book". If you could imagine him saying that in his East Indian Trinidadian accent, I was a great kick! SMILES!