I recently came into a very worn 1838 Dime and found myself wondering if it has any "value" beyond melt. I have an appreciation for older US coins but my collecting does not focus on them. When I visit a coin shop or show, if I don't find what I am looking for, I usually ask if they have any circulated mercury dimes. I will buy a hand full and put them in jar at home. This time there was a couple seated dimes, including this very circulated 1838 one. My question is, does this coin still retain any value as a collectable coin in the condition it is in or do I toss it in the jar. I put it in a 2x2 for now. Let me know what you think. Thanks for your time.
Note: Since it is so worn, the reverse is barely readable. I would not pay more than a dime or two above melt.
To the knowledgeable/experienced collector it may be worth only what Treashunt said, which would be bought just for fun, because the cost is objectively low. Though, you might be able to find a YN or new collector willing to spend higher ($3-$5) because they simply want an 'old' coin and may not be as discerning about 'quality' - the old 'quantity vs. quality' conundrum that new coin collectors often have.
I probably wouldn't either -- and, as a result, I would expect to get a coin like this very infrequently indeed. And when I did, I would count it as a very good deal. I'd certainly ask more than that when it came time to sell it.
1838 Large Stars obverse---by far the most common of the 3 major varieties for the year. Give it to some YN at the next coin show you attend (or the next kid you see with his nose pressed up against the counter at your local shop) and make his day.
Great idea. I did something like this recently. I did a making change lessen/exercise for the son's last Tiger Cub meeting and it also steered into a coin collection discussion. The five boys (not including my son) each got a dateless Buffalo nickel and a circulated 40s Mercury dime as a take away. It 'cost' me a whole $6.25. Worth it.
I would probably grade the coin PO-01. There are some collectors who try and find the lowest grade possible, and they compete in "lowball" sets on PCGS. In these backwards sets, the PO-01 gets the most points. I'm not sure how common this type is in PO-01, but I've seen large premiums paid for the lowest graded coins.