Nice MN Coin Collecting Story

Nation
Coin collectors flip over new quarters, old dimes

Candace Renalls Duluth News Tribune
Last update: October 14, 2005 at 9:23 PMPrint this storyE-mail this story

DULUTH - Cleaning his basement six years ago, Bill Jahn came across his old penny folder. His father had started him collecting Lincoln wheat cents when he was 9.
Jahn looked at the penny folder with growing interest for several months before deciding to start collecting coins again. Five years later, the Duluth man has amassed a large collection that includes old U.S. coins, new commemorative coins and proofs, which are coins struck with a mirrored finish for collectors.
His Liberty Walking half dollars (produced 1916-47), Mercury dimes (1916-45) and Buffalo nickels (1913-38) fill volumes of collector books. His commemorative coins and proof sets - which include a penny, nickel, dime, quarter, half dollar and dollar coin from the same year in proof condition - are filling a box.
"It's middle-of-the-road, an average collection," Jahn said modestly. His father, Vernon Jahn of Bloomington, joins him on treks to coin shows in the Twin Cities.
Wanting to share his newfound passion with other collectors, Jahn looked for a local coin club. When he couldn't find one, he started the Twin Ports Coin & Currency Club, which has about 25 members ranging in age from 16 to 75.
Jahn says the new State Quarters have generated a new interest in coin collecting.
"It's created a whole new crop of collectors," Jahn said of the quarters, which will be issued from 1999 to 2009.
Coin collectors tend to specialize. Some collect new commemorative coins, some gather proof sets. Some collect foreign coins, ancient coins or error coins.
"A lot of people think anything 1965 to current are not collectible because there's no silver in them, so they collect old coins, not modern ones," said Jahn, who works as a geologist for Environmental Troubleshooters.
Most people start with a series folder - such as Buffalo nickels (1913-38) - and try to fill it with one of each year and mint mark, the symbol from federal mints in cities such as Philadelphia, Denver and San Francisco. With price guides in hand, collectors turn to coin shows, shops, flea markets, mail order, the Internet and other dealers for sought-after coins.
Value is determined by the coin's condition, its year and mint mark. A Mercury dime from 1916, for example, is worth $2 if was one of the 22 million struck in Philadelphia that year. But it's worth $1,000 if it's one of the 264,000 produced at the Denver Mint, Jahn said.
Describing her late father, Stanley Wresh of New Brighton, as more of as a hoarder than a collector, Erickson said he'd create piles of change rather than organize and label his coins.
When part of his collection was passed on to her in 1990, Erickson got interested and started collecting.
Erickson is fascinated with the history of the coins and her father's interest in them.
"When I go through his stuff, I see his handwriting on old rolls of coins," she said. "It's so neat to see that."
Jahn sees coin collecting as an investment. But more than that, he likes the challenge of completing a set or series of coins. He's completed Franklin and Kennedy half dollars, Jefferson nickels and Washington quarters series. When he completes his 20th Century series, he'll move on to earlier sets, such as Morgan silver dollars.
Whatever the reason for collecting, there's one thing coin collectors have in common: "We always look at our change," Jahn said. "It's a running joke. You got to look at your change before you put it in your pocket."