If they are reprocessed (Littleton does that a lot) it's damaged. They put a new coating on to make it look all shiny and new, but it just ruins the coin. Steel cents are plentiful. You can go to any coin store and they will have tons of them. You can pick out 3 nice ones for $1 or less, total.
I have to wonder how many thousands of coins since 1947 Littleton has ruined and charged outrageous prices for. I tried last year to get up there but did not get started early enough before they closed. I have always wanted to see their operation and what kind of overhead they have to justify their prices. I did arrive in time to have a nice dinner at the Railroad depot by the tracks and got to shop at Chutters candy store.
They have been in business a long time. But I bet if they sold coins at fair market value, they would have more customers, and more repeat customers. A little less profit margin, but a better product and relationship with collectors. They way they run the business it's as if they have to take advantage of people who don't know enough about coins, lose them when they realize they have been over charged, and move on to the next innocent lamb. The first time I bought from them was around 25 years ago. I got a Walker and a Merc for a good price. ($3.95? Who remembers.) (After silver went high, I sold the Walker.) I was unaware of the coins on approval practice, sent them back, and that was that. About a year or 2 ago, I wanted the last 3 president coins. So I received Nixon, Ford, Reagan in P and D (free Homestead quarter) in "uncirculated" condition. All of the coins had bagmarks, so you know they cherry picked through them and held out the really good ones for high prices. I paid face value, and I swear there was no "Coins on Approval" notice in the ad. But in came the coins. I e mailed them and said I would love to do business with them at fair market value, but I can't pay 2-3X book value for their coins and sent them back. So, I was happy with my loss leader coins. But, I actually would have done business with them at a fair price.
Thank God I won't pay asking price on anything I collect, I prefer free but that's not how the world works at least with these they were gave to me by a neighbor
@Michael K I just did a short search on Littleton. Guess it was a good thing I did not reach them that day. The review said they do not allow tours of the facility but have a gift shop of coins.
I was born in 1943 and saved everyone I saw since I was old enough to understand. Got a bunch of them and then started giving them to grandkids and great grandkids. Cool coins.
That's what I do just gave my grandson number one comic books along with my 1860 Erie Pennsylvania Bank note
Be careful Joy. Don't give too much to one. Unless, of course you are sure about the count. I started out giving my first grandchild a lot of stuff. Then I ended up with 13 grandkids and 17 great grandkids. I'm glad I saved back some for the 'future'. However, giving to younger family reaps more return than trying to sell stuff and get the investment back.
So true. In all my years of collecting I have sold very few coins. But I have given away countless coins to youngsters. The dollars never felt close to the warmth and wonder on a youngsters face when I give them an old coin. I can remember all those faces. Don’t remember a single dollar from a sold coin though.
Yes, there is a lot of warmth and satisfaction. I give coins (starter type accumulations) to nieces, nephews and virtually any youngster that seems to be interested. I do enjoy it.
About 65 years ago I bought some stamp supplies from a company with an ad in the newspaper. I started getting approvals in the mail. I sent them back and told them I didn't want any. They sent more. I found that legally you didn't have to return something that you were sent unsolicited. So, I started to just keep them. And, they soon stopped sending approvals.
