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Replies: 24 / Views: 2,928 |
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Pillar of the Community
United States
1431 Posts |
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Pillar of the Community
United States
716 Posts |
Edited by Yinzi50 08/02/2012 8:26 pm
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Valued Member
United States
344 Posts |
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Valued Member
Canada
212 Posts |
canadian olyimpic set,1999-2000 set,state quarter set,
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Pillar of the Community
Canada
1723 Posts |
About 20 coins away from penny album from 1920 to date
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Valued Member
 United States
477 Posts |
I'm just trying to figure out if it's really a good idea to try and complete a circulated set because the coins would be in circulated condition and any really old coin would probably be in really bad condition. Certainly a complete set might be worth trying to put together and sitting on for several years to make some money. I'm wondering though if anyone would really want a circulated set of coins and if buying a complete proof set would be worth it or not. I've been trying to complete a Lincoln memorial set from circulation and so far have found everyone except 72-s the lowest mintage in the series. To find any s mint penny is pretty hard. I've also come to terms with why the 2009 pennies are so rare, the mintage numbers are insanely low and would require you to go back to like the 1940s were pennies were minted in such small amounts. I hold onto all of them in the hopes that one day they might be worth more than face. They certainly will be hard to find in change a couple decades from now. I get more wheat than I do 2009 pennies. I still have only found one D 2009 penny and am trying to find the other three, I live on the east coast so it's hard. I than however realize that most people would be fine buying a circulated set of "Indian head" pennies but in terms of investment buying a uncirculated set might be worth it more => you can't find a uncirculated set of indian head pennies for sale (at least I can't) and one would fetch a pretty Penney. Buying an uncirculated set would also allow me to get all the other s mint pennies that weren't intended for circulation. Perhaps I'll try to complete a circulated set and purchase a complete uncirculated set of lincoln memorials. How much do you think a complete Indian Head penny uncirculated set would sell for? Also can anyone suggest a free way to determine if my 1982 pennies are zinc or copper. I don't like going buy sound as that's a very none quantitative definite way to determine if it's copper or zinc. I have a I touch and was trying to find a free app that works as a scale but can't seem to find one. Can anyone recomend a way that would allow me to determine if it's copper or zinc in a way that I could do at home with stuff that I probably already have. I don't have a scale and would rather avoid trying to get one if possible but downloading some kind of app for free is fine with me. Can you recommend one for me? Thanks for any help. I'm not exactly sure if one can truly make any money off collecting circulated coins. lets say that in 1900 I bought 25 dollars of pennies and sat on it. If I opened it today and sold them for the premium of roughly 10 dollars a coin. This would result in 25000 dollars a net profit of $24,975.00 Now when we take into consideration inflation 25 dollars in 1900 would have the purchasing power of $691.00 This allows me to conclude that hoarding circulated coins for 100 years as a way to ensure that your grand kids are rich. But one has to take into consideration that our coins will be worth only a fraction of older coins. I believe that coin collecting has evolved incredibly over the years. Today your average Joe can go to the bank and try to put together a complete set of Lincoln memorials and buy 25 dollars of pennies like it's nothing. Back in 1900 however your average Joe couldn't really buy 25 dollars of pennies just for collecting purposes. I don't think our higher mintage numbers really have anything to do with it. Our mintage numbers will appear small in 100 years and that it's all relative. I think what it comes down to is that it will become easier and easier to collect coins from circulation as the purchasing power becomes less and less. So I think it's really a gamble as to what our circulating coins will be worth in 100 years. Your average Joe couldn't collect Liberity 2.5 dollar coins from circulation by simply going to the bank as the complete set would total $82.50, putting that kind of money away for the sake of satisfying your coin collecting desires would be the equivalent of putting away $2,280.00 of circulated coin today... no nut would do that in circulated coins, perhaps in old coins but not circulated coins. Your average Joe today can put away the money today to satisfy their coin collecting desires to complete sets from circulation in any denomination of coin, dollar, penny, nickel, dime, quarter, half. Only time will tell but I'm not exactly sure if collecting sets from circulation is worth it in terms of making money and inflation. Maybe 100 years ago it would be but perhaps now it might not. Collecting coins from circulation as an investment is however interesting as your buying your coins for face and if you completed a lincoln memorial set from circulation it will always retain it's face value, the purchasing power however will decrease and one might perhaps be better off spending on some other things, what not sure still deciding. But cash is trash, money is meant to be spent not saved.
Edited by greenprint 08/10/2012 02:49 am
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Pillar of the Community
United States
8517 Posts |
I do it because I enjoy it. It's not all about the money.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Moderator
 United States
189117 Posts |
Quote: I'm not exactly sure if one can truly make any money off collecting circulated coins. I have always lived with the assumption that no one makes money collecting coins, circulated or not. This rule may not apply to everyone, but it has served me well.
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Valued Member
 United States
477 Posts |
i think collecting uncirculated coins might be a good investment and don't see how your rule applies. Certainly with todays circulating coins it's certainly debatable as to weather you can make any money off it. But if you bought a uncirculated set of "Indian Head Pennies" in 1910 you would make thousands maybe even millions today
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Moderator
 United States
189117 Posts |
This may be true, but it is not my goal. I collect coins for fun, not profit. Of course, this does not apply to everyone. If your goal is profit, and you make a profit, then that is a success! It is just not my goal; and it should be known that people can collect without caring about future value. To each their own. 
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Pillar of the Community
United States
2651 Posts |
I am one cent away from completing my 1959-Present MS Lincoln set....the only one I need is the 2009P LP 4....I get mostly D mint coins here so it might be a bit before I find it.....and I am currently going through 20 bucks of pennies through a hoard that are all pre 1985...lots of MS coins..
Edited by Jayman931 08/13/2012 1:51 pm
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Pillar of the Community
Australia
4411 Posts |
Greenprint I am curious to know if your interest in coins is solely profit based or if you actually enjoy the hobby?
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Valued Member
 United States
477 Posts |
A combination of the both.
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Pillar of the Community
United States
530 Posts |
Quote: What about proofs ? Surely you guys didn't find those.
Im working on Kennedy halves with proofs dansco, Iv found 90% of the proofs from circulation believe it or not. IV found all the clad proofs except for the 2 from 1979, and 2 from the 2000's. Iv found the 1976 silver proof, and the 1969. I'm certain Iv found the sms coins also. the real stopper on me getting this set complete from circulation is the 1992 and newer 90% silver coins. I know I wont do it all from circulation, I am holding out hope for those last clad proofs though. I completed Jefferson nickels in 32 boxes, but I gave up and bought the last 4, 1950 d, (2) 1938, and (1) 1939.
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Pillar of the Community
Canada
937 Posts |
I haven't found quite the sets that some of you have, but here in Canada we still manage to get a few U.S. coins in our change. I go for the nickels, and have managed to find just about all of them from 1969 up -- with the exception of the ones with mint-mark "S". Are the S-coins rare or harder to get? Or have I just been unlucky in not finding very many? Out of the hundred and fifty or so nickels I've found only 2 that are S-marked. And my rule is that I can't buy any off ebay or out of a coin shop; they've all got to be circulation finds. Personally, I think it's fun to try for the set this way, and marks a bit of a challenge. They'll never be worth a million but I don't care, it's all in the hunt and I love looking for them.
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