So I’ve been doing some collecting with my grandsons. Nothing great, some wheat Pennie’s (trying to finish the book together) and completing other books started by my FIL. My problem is, I’m afraid to let anything go and I know I don’t need all these coins I have! A gazillion state quarters (also started by my FIL), many modern proof sets, a little of everything! For my grandsons I’d like to finish books together, so I was going to roll up some of it to have $$ to take to coin show in June to see if I can buy a few things to go in the books (although some may not be completed because of rarities and $). But what in the world do I roll up and take to bank for cash? I have a list of key dates that of course if I have them I will keep, and a few errors to look for, but other than that, what? Is there an online education class about this? As usual, you guys are are anwesome and I so appreciate and thank you for your wisdom!
Yeah, Mimi..... I helped a friend liquidate his late fathers collection several years ago. I am not exaggerating when I say that the man had hundreds of rolls of bank rolled state quarters in his safe. After inquiring with several dealer buddies, it was determined that the bank would be the only taker.
If there is a local Coin Club in your area, it may be a fun and helpful and educational experience to attend, and listen to the ideas and commentary of the members. Contact the local club rep., explain the what/where/how enquiry, and consider bringing the collection if it is not too cumbersome, and the representative doesn't have any issues, and discuss the age of the Grandchildren as it applies to membership. Be clear you are seeking advice and not attempting to sell at the meeting, unless the representative advises to do so. Regardless, I can't think of a better method to introduce the grandchildren to the world of Numismatics. You can then make an informed decision of participating in the Club. That is all I've got. So.....
As you’ve guessed, lots of online resources to visit and learn from. What you are experiencing is common. It’s easy to be overwhelmed. So, it’s best you read, read, and read. It’s really the only way to get to a manageable list. But your end goal remains the same. You’re just refining the input part of things. When starting as a collector, I was actually a hoarder. I piled up cents and nickels from my paper routes and set them aside. To the greater extent, it remains a hoard of common coinage, albeit an older hoard. The thing is that is I didn’t have that hoard, I wouldn’t have had such a lot to Variety and Error hunt some 30 years later. And when I did, I was happy that by dumb coincidence it paid dividends. Very low dividends. You’ll need to determine where your hoarder/collector line lives. I dumped a bunch of the common stuff a decade ago to only wish I had it to recheck when I learn of a new interesting variety. But, truth be told, it’s less likely that I passed up anything significant now that I’ve built up the internal memory banks. I do keep a small hoard of cents and nickels but only for the chance to give some fresh binders and the hoard to potential young collectors. Maybe $50 face for each getting dusty. Otherwise, back to the wild they go. No sense from my position to maintain them from potential public interest. And I have roll sets of dates and mm’s if one youngster catches the bug. Other than a handful of dates, everything is rather affordable. And the truth is that the memories made with grandchildren are infinitely more precious.
I think in most banks you have to roll them these days because they no longer have counting machines. A lot of credit unions have counting machines, so I'd think those would be your best bet if you want to bulk dump them. Then there's the Coinstars, but they'll take a rake-off. Just dump the ones you're not using and don't look back, best thing. EDIT: And you want to get them a Red Book.
So at the last coin show I went to (also my first), the dealers were so very nice and helpful. Several said I could trade in the proofs with them, but what should I be looking at that will be valuable to my grandsons later? I’ve been getting American Eagles here and there, and I think the W coins are cool. But if I’m saving my money for something special (or something’s), what are your recommendations?
https://www.chiefcoinandsupply.com/C/97/BUrolls Any of these quarter rolls that list under $20 per roll is probably far too much trouble to sell. The better dates, Gems, varieties, and errors have a lot of potential yet. Any 2005 to 2009 coins that are brilliant and near Gem is also a keeper because there are no mint sets containing brilliant coins for these dates. Most dealers at shows will have no interest in even the best dates of states quarters though there are a few who do. It's unlikely any local show will have such a dealer. As a general rule unless a modern is a variety then it has little value in circulated condition. There are a few exceptions.
Most of the state quarters won't be worth a premium for at least another hundred years, and even then the money lost to inflation will probably be more than the premium. I have a few rolls of circulated state quarters, carefully separated by state, that my mother saved, probably thinking they would be worth a lot in the future. I really should take them to the bank, but I just can't, because they remind me of her every time I see those rolls. That's a nice premium right there.
Just before I moved I went though my change. I rolled the zinc cents, nickels, dimes and quarters. All after filling any holes I may have had in my folders. I had lots and it took some time but I kept the best and the rest went to the bank. I cashed them in and took over $700 in paper money, which I spent on, you guessed it, coins.
Also, if your FIL left pre-1964 dimes, quarters, or halves that are circulated and worn, they can be taken to a dealer or “We Buy Gold” storefront and sold at a multiple of their face value. That’s what I did, giving me more money for, you guessed it, coins.
One would question Meow, Why? Sure Cats like shiny things but IMO state quarters are spenders. My Dad recently cleaned up and dumped about $800 in Sacagawea and presidential dollars along with $700 of Ikes he's been sitting on for years...I added a few rolls worth to the lot and freed up a small amount of space. I'd say concentrate on cool coins that the grandson is interested in...you could always introduce him to Gold
What else is a hoarding Cat to do? Funny, coincidentally Meow went to the bank today to see if Meow could get shiny quarters or pennies. Meow took what was presented to Meow, and that was 6 hand rolled quarters, 1 BU roll of Nebraska quarters. 1 BU roll of Michigan quarters, and a 2 BU rolls of South Carolina quarters. There was a W mint San Antonio quarter found in the Hand rolled ones. The 20 rolls of pennies where BU 2022d. Pffft. Meow has well over 500 rolls of that issue already and was hoping for 2023s of which Meow has only 10 rolls of. Anyway, the remains of the hand rolls will go to coinstar. The rest with reside in the Cat Hoard forever.
