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Replies: 63 / Views: 7,072 |
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Pillar of the Community
United States
2270 Posts |
I've been keeping a close eye on the way the older quarters are getting very difficult to find. The oldest clad quarters have nearly 60% gone. These are simply destroyed and lost and are gone forever. The 40% that survive are usually in very low grade and/ or are culls. With a little effort it's not too hard to find most dates in VF without lots of little scratches from counting machines.
But I lost track of the dimes and nickels and these just slipped away from me. 70% of the oldest dimes are gone making some dates difficult to find at all. There are lots of culls.
Nickels are even more surprising with nearly 80% missing. Some of these may be in hoards formed since the LME nickel default in 2008. The value of the metal in these has gotten as high as 10c. But even in those days it was hard to find nice early dates. These coins have acquired a lot more wear. While the number of culls isn't so high the number of nice attractive coins in F or better from before 1980 has dropped to very surprising levels.
Nickels collections are probably the toughest to form from circulation now especially if you desire nice attractive coins with even wear. Anything 2003 all the way back to 1965 is "suddenly" quite scarce in nice XF or AU condition. Of course the later dates will appear in the older hoards.
I'd guess most of the '65-1979 nickels are harder to find and soon to be scarcer in VF or better than the '50-D because collectors keep pulling out the older coins and leaving the newer ones. The newer coins have all worn out or been lost.
Everyone thinks there are millions of mint sets but these have been ignored too and most of them have been cut up and spent or put in the cash register. Time don't fly, it bounds and leaps.
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Bedrock of the Community
United States
19108 Posts |
More difficult? Yes.
Since a fixed number of coins are produced from year-to-year, it stands to reason that the number of '65-80s overall is slowly diminishing--particularly the earlier years, and that the surviving population (mostly in circulation) will continue to age--some gracefully, most not.
As a sample, I've gone through several dozen rolls each of quarters and nickels over the last six weeks. Curiously, I did come across a modest number of '65-80s coins in the low MS range, and a very few at mid-MS. Of course, there were way more well-worn examples.
It's a numbers thing--and time is very unforgiving.
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Pillar of the Community
United States
7273 Posts |
This is only an issue if you find the modern stuff interesting. One can easily find clad coinage and honestly it's just not interesting. So worry about it if interests you, I'll pass though.
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Pillar of the Community
United States
1613 Posts |
What I've found rather unusual, or at least in my area, is that during the early months of the pandemic when coinage was an issue in commerce quite a few were found in change almost in mint state. As if they were on the bottom of all the newer coins stored in the vaults which never got rotated or near empty before hand. Now? Not so much, dropping off like before hand.
ANA member - PAN Member - BCCS Member There are no problems only solutions - the late, great John Lennon
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Pillar of the Community
United States
1484 Posts |
Would agree with @Ballyhoo that some interesting clad change turned up in 2020, but we seems to be back closer to "normal" now.
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Moderator
 United States
187446 Posts |
An interesting analysis. 
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Bedrock of the Community
United States
10029 Posts |
I used to out away a roll of the nicest coins I would find for pennies through quarters of each year back in the 70s.
Maybe its time to think about selling the rolls from each denomination? But the sad reality is that money has lost so much value over the years I would need to sell (for example) the roll of 1970 quarters for ~70.00 just to break even!
(Figures taken from inflationtool.com)
Wish I had put it into silver back then!
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Bedrock of the Community
United States
19930 Posts |
Attrition is working it's magic. Most of the Lincolns I get in change the past few years are shield cents. Most anything older is a cull.
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Pillar of the Community
 United States
2270 Posts |
Quote: Attrition is working it's magic. Most of the Lincolns I get in change the past few years are shield cents. Most anything older is a cull. I've noticed this with my pocket change. Always in the past the low turnover of cents assured new batches of piggy banks and change jars would be coming along with ten or twenty year old circulating cents but it appears more and more cents are either being discarded or not being redeemed. Even such "easy" cents as the '66 are barely seen at all any longer. A lot of coppers have been pulled out but these are mostly poor condition later dates. It's the zinc issues that are really being destroyed. Between zinc rot and people throwing them away it's a wonder any of these are left. It seems almost every cent in a handful is gouged, rotted, cull, or stained any longer. Even the '21 cents are often non-collectible. People don't care because they think there are millions of mint sets when in actuality most of these sets are long gone through neglect and every cent in the survivors can be bad like the '68. So much for the old theory that there are so many moderns they will be with us forever and nobody needs to collect them.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
984 Posts |
Over the last three months I have been going through bu rolls of Lincolns from 1950 to 1990 and I have put maybe 500 or so Lincolns from 1957 to 1990 (mostly early sixties) all uncirculated but with spots or bad scratches. I have put maybe 50 or so red shiny 1957 and 1958 (of course with problems) wheats back in circulation. I am curious if anyone ever notices? If someone notices a full red 1957 Lincoln in their pocket change they probably think they hit the jackpot. Never noticing that giant scratch on the face.
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Pillar of the Community
 United States
2270 Posts |
Quote: Over the last three months I have been going through bu rolls of Lincolns from 1950 to 1990 and I have put maybe 500 or so Lincolns from 1957 to 1990 (mostly early sixties) all uncirculated but with spots or bad scratches. I have put maybe 50 or so red shiny 1957 and 1958 (of course with problems) wheats back in circulation. I am curious if anyone ever notices? If someone notices a full red 1957 Lincoln in their pocket change they probably think they hit the jackpot. Never noticing that giant scratch on the face. It's worse than most people imagine. There are still BU rolls from 1955 to date and many of them (60%) are still in good shape. The problem is that many specific dates are bad and there are numerous dates after 1965 that barely exist in BU rolls because people quit saving them in '65. Then add in the vast destruction of mint sets and the attrition on coins in circulation and you'll find a lot of modern are not only rare in pristine condition but are difficult to find in any grade other than cull or worn out. Clads aren't so bad except BU rolls are generally unavailable and the few surviving mint sets all have tarnished coins. This "tarnish" is removable in many cases but requires effort so people aren't doing it. Then the longer the tarnish stays on the less likely it can be successfully removed. It all just goes to show that if you ignore coins for 65 years they might not be there when you go to look.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
634 Posts |
I agree with @Ballyhoo as I came across a lot of nice Pennies 1940-80, nickels late 50s on especially. Now everything seems to be back to normal.
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Bedrock of the Community
United States
19930 Posts |
Quote: I've noticed this with my pocket change.
Always in the past the low turnover of cents assured new batches of piggy banks and change jars would be coming along with ten or twenty year old circulating cents but it appears more and more cents are either being discarded or not being redeemed.
Even such "easy" cents as the '66 are barely seen at all any longer.
A lot of coppers have been pulled out but these are mostly poor condition later dates. It's the zinc issues that are really being destroyed. Between zinc rot and people throwing them away it's a wonder any of these are left.
It seems almost every cent in a handful is gouged, rotted, cull, or stained any longer. Even the '21 cents are often non-collectible. People don't care because they think there are millions of mint sets when in actuality most of these sets are long gone through neglect and every cent in the survivors can be bad like the '68.
So much for the old theory that there are so many moderns they will be with us forever and nobody needs to collect them. We've been discussing this for over a decade now. As expected, it's getting worse every year. I reckon at this point, nearly every single mint set produced has been looked over for anything worth saving. The best hope of finding anything good is still rolls and old change stashes. I don't think you'll find much in circulation worth keeping unless you get real lucky.
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Pillar of the Community
 United States
2270 Posts |
Quote: What I've found rather unusual, or at least in my area, is that during the early months of the pandemic when coinage was an issue in commerce quite a few were found in change almost in mint state. As if they were on the bottom of all the newer coins stored in the vaults which never got rotated or near empty before hand. Now? Not so much, dropping off like before hand. The mint and FED have had a policy of rotating their coin stocks since 1972. I suspect they got a little sloppy in some places and they did clean out some storage that hadn't been emptied in years. A lot of people had free time and may have cleaned up their collections and hoards as well. I saw extra XF's of the early dates but don't recall seeing any AU's except a few '80's dates. I look at quarter rolls regularly and don't recall seeing any nice AU-55 or better coins in the last year. It's been several years since I've seen eagle reverse quarters in even AU-50 and most are later dates. Until 10 years ago I'd see a few from the '70's in AU-50. These have disappeared so fast they might be getting pulled by collectors. It's really the nickels and dimes that surprise me so much. The attrition on these was already high but I didn't notice that it began spiking and now the coins are almost gone. In five rolls of nickels there were only two collectible earlier coins; a '72-D in attractive F and an '86 in AU-53 with little scratches. Everything else was heavily worn and/ or cull. The dimes weren't much better. Most of the early coins are just gone now except for quarters and the condition of the quarters is poor.
Time don't fly, it bounds and leaps.
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Pillar of the Community
 United States
2270 Posts |
Quote: I reckon at this point, nearly every single mint set produced has been looked over for anything worth saving. The best hope of finding anything good is still rolls and old change stashes. I don't think you'll find much in circulation worth keeping unless you get real lucky. Mint sets are funny. Most of the sets were sold to individuals who kept all or most of them. Over the years these original buyers or their heirs have just taken them to coin shops to dump. Without checking the sets most go to big wholesalers or are cut up for the cash register. The sets are checked and destroyed by the wholesalers. So as a rule checked sets are destroyed leaving the surviving sets unchecked. This has been changing a little in recent years since there are so few original buyers left and more people are looking for Gems and varieties and selling what's left. And there's the fact that many sets are tarnished and still going into the cash register. The long and short of it is that there aren't many sets left, prices are far higher, and many sets on the market are still original but tarnished. Pristine original sets are by far the exception. Even well stored sets are tarnished for many dates. There's no roll market for the clads other than halfs and dollars and the market for nickels is dysfunctional. There is small market for cents but so many cent rolls are tarnished that it retards these markets. If you offer bid for some of the expensive zincoln rolls you might get buried in corroded and rotted rolls without a single nice coin in the bunch. If you have a nice roll of something like the '93-D will you really want to sell it for $15 knowing that most rolls are corroded? Even cents from mint sets are in some instances usually no good. '71-S cent can be especially bad. I used to pick up wheat rolls cheap but by the time I went through a few and found no good coins at all I just sold them and let someone else take the risk last year. Nobody knows what any of the moderns are really worth because there's no demand. People always used to say that if anyone ever wanted modern garbage they could just get it from circulation. ...But not any more. Everyone always said that if anyone ever wanted to collect trash they could get it from mint sets. ...But not any more. There are very few mint sets left and they are corroded because of half a century of neglect. So my question is what are collectors going to do if they ever want to collect moderns? I'd suggest they do it early or never because there just isn't any supply to speak of. Every coin shop has piles of buffalos but they won't have a 1975 nickel in any condition to sell and they won't have one in the cash register either (unless they just cut up a 1975 mint set).
Time don't fly, it bounds and leaps.
Edited by cladking 01/02/2022 8:45 pm
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Pillar of the Community
United States
7273 Posts |
Boy where do you get these facts from? I can get mint sets all I want, the prices are low. You must live in an alternate country as clad coinage is plentiful. Just look at ebay you can get any coinage you want for a good price, this sky is falling really needs some fact checking.
Edited by hfjacinto 01/02/2022 8:50 pm
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Replies: 63 / Views: 7,072 |