Hey guys, Please read all of my post because I REALLY am curious as to what you coin-pros will have to honestly say about this issue. I have been wondering, is it worth it keeping coins that are in general circulation but are no longer made (or there is talk of them being no longer made)? I'm talking about coins like: Lincoln Memorial (1959 - 2008, supposedly) Non-silver Washington quaters (1965 - 1998) Jefferson Nickels (1938 - 2004) All of these coins are VERY easily found when you get change, or even walking through the parking lot sometimes. I'm wondering though if these coins will ever be worth more in the future (40+ years) and if I should start putting them in big jars (or if I should bring them back to the bank for more roll-picking)? I think a good example is the Washington quarters made from 1965 - 1998. Sure, they may not be silver like the pre-'65 ones that everyone is after, but they are definitely not being designed anymore. Now that the state quarters are out, the normal quarter we knew before 1999 will probably not be coming back again when the state quarters are finished. So since the Washington quarters are pretty much done with thanks to state quarters, and since the Jefferson (Monticello) nickels are over with because of the Westward Journey nickel series, AND since the Lincoln Memorial will be having a redesign in 2009, should I start hoarding them in jars for safe-keeping in say 40+ years? I've seen older folks sell jars of coins they've had since the 1940's and 1950's and they're getting quite a good price on them. It seems like coins really gain value after a few decades after their production ends. Is this the case with the coins I mentioned above? Should I start jarring as many as I come across with the intention of selling them in 40+ (and NO less) years? Thank you friends, Andrew
Only if they are uncirculated, otherwise they won't ever, IMO, amount to being worth much. Besides that the glut of production of coins in the billions every year and their lack of any precious metal and the mint/treasury/legislative reluctance to change designs other than minor tweaking, has doomed our coinage to fade into artistic obscurity.
as you like it. as long as you like them. just collect it. this is a hobby remember. a good past time hobby.
I wouldn't buy any coin for investment even at face value. However these do make a great collectible and by this token might well return significant gains. Just stashing circulating coins is probably a foolish way to accomplish this, though. The typical 1965 quarter looks like junk. It was poorly struck by heavily worn dies and time has hardly been kind to it. It will show considerable wear despite it's light weight and extreme hardness and it will be damaged or spotted. Such a coin or its equivalent will still be in circulation (or available) in 40 years. What won't be available are nicely struck coins with light wear and no damage. You'll incur all the opportunity costs for every coin you save. You'll lose the chance to earn interest or buy something with more potential. So don't save ugly, heavily worn, or common coins. Save '68-D quarters even in VF and nice '69's in any grade at all. Look for the coins from the late-'70's with nice clean strikes as these were uncommon even when they were minted. Save nice AU's from the '80's and '90's. Learn what the varieties are as many of these will be highly sought after. In fact, rather than just saving coins try collecting them. Collectors generally do better financially and usually have a lot more fun. In any case you'll quickly learn which of the coins are easy and which are impossible. If you find you're getting a lot of money tied up in this then you should certainly pay attention to the markets for these. Some of the BU's for these are common and some are scarce. This will have a profound effect on the value of the circulated pieces in the future. Their condition will also affect which circulated pieces are most desired. Invest in the markets and pick up the blue folders for whichever coins interest you. You'll be surprised how much better you'll do this way probably.
I should point out that a few rolls of quarters set aside from this era would make a fascinating time capsule. It's virtually impossible to find any quarter rolls or samples of quarters more than a few years old. These have alow turnover in circulation but this turnover affects virtually every single specimen made. You can find old cent rolls once in a while but not the quarters.
I would look into Kennedy halves, mainly because I prefer large coins. However, for appreciation in price the Roosevelt dimes and Washington quarters might do better because they don't seem to have a large dedicated collector base saving them.
Yes, you should keep them, which is called "savings"! And when you need money, you can always use them!
If your looking at it from an investment its not all that great to keep each and every one. If you put $10 in average quarters away for 40 years you would have to make a little over $11 return for each quarter, that's equal to what you might get in a good noload mutual fund with an APR of 10% over 40 years. If your like me, I'd get a good set of them together for those years 1965-1999 replacing bad ones with the good and then pick and chose the best of the rest, maybe a roll or two of some nice dates and condition.
I agree entirely but would add a couple points. Save anything you find that's special or that you think might be underrated. One that I'd be more inclined to keep is 1969 quarters that are attractive. Even if they are heavily worn this date is tough in nice attractive condition. These went straight into circulation unlike other pre-1972 dates so all have been in circulation longer than any other clad quarter. These were very poorly made so most have strike weakness and other problems. Another thing is don't concentrate on just high grade. Since most clads are unattractive it's often more important to look for nicely made coins with nice even wear. Certainly the less wear the better. Don't get bogged down saving a lot of the more common varieties. These will still be common in 40 years in low grade so always consider condition. Anything common now will still be at least a little common in the future. You want to focus on coins that stand out so your money goes farther.
cladking question?? I haven't looked for quarter lately, and if I understand you correctly, your saying to keep the 1969's because they're less common in circulation now or less common to find in good condition? Also, why might the 1968-D be a good one to keep? is it because of the low mintage? Thanks,
The '69-P is tough in nice shape and the '69-D is more difficult to find but will often be quite nice when you do. The '68-D is the toughest to find so will have a little more demand on this basis alone. The '68-D, surprisingly, is pretty available in nice choice or gem uncirculated though. These were simply made much nicer than many dates and have survived a little better because of its low mintage. There were actually fewer than a hundred million made for circulation (mint sets are included in production numbers until 1998) and it has alway attracted a little more attention.
