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 Replies: 30 / Views: 3,862 |
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Pillar of the Community
 United States
5189 Posts |
Yesterday, I went to a LCS to see if could sell a couple of unwanted coins (instead of using ebay all the time). To my surprise, the 1883 "No Cents" Nickel I showed was dismissed as "worthless" as "they made them by the millions" and "I sell them in bags wholesale". Suffice to say, I was very disappointed and left the shop. What do you think? Is my coin "worthless"? And what should I do with it?   |
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Pillar of the Community
United States
7276 Posts |
While the V nickels are my favorite of the Barber coinage the 1883 No Cents is widely available. A few months back I picked one in comparable condition to yours for around $12, but the dealer had about 10 more all around the same price. It's sadly not as collectible as the IHC or LWC. I in no way think that your coin is worthless, For coins that have minimal value (under $20) many times I give them to a fellow collector. I gave away my last 2 No Cent nickels to my hairdresser and another to my brother in law. I'm actually looking for 1 for my daughters boyfriend. (Just saying). |
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Pillar of the Community
United States
8938 Posts |
Coins also made by the millions, 1883-S Morgans. And I don't think anyone would say an 83-S Morgan is worthless
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Pillar of the Community
 United States
5189 Posts |
Well, at least the price of silver bullion puts a floor under a Morgan dollar. You think I should drop the coin in a Salvation Army kettle? Edited by NumisEd
04/13/2021 8:28 pm
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Rest in Peace
United States
10625 Posts |
Put it up for adoption. I'm sure one of the YN members would love to have it...  |
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Pillar of the Community
United States
4680 Posts |
 good idea! I'm sure there's a number of new members that may not have one that would appreciate it. It's certainly not worthless Edited by Ty2020b
04/13/2021 9:20 pm
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Pillar of the Community
United States
8938 Posts |
It's worth $5-7. What dealer said it had no value? |
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Rest in Peace
United States
2668 Posts |
Quote:
It's worth $5-7. What dealer said it had no value? No value? Worth at least 5 cents!  |
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Rest in Peace
United States
18456 Posts |
I agree to 5-7$ value .  |
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Pillar of the Community
United States
1959 Posts |
To add a different perspective if I may.
If you have 14 of these coins and find it difficult to sell them, you probably would not be interested in having a 15th. To say it is worthless isn't fair, but to that dealer, it probably was worthless. Businesses buy items they can turn a profit on. No Cent nickels are not one of these items. He probably would have offended you if he offered $2, so he chose to offend you by saying it is worthless instead. Kind of ignorant of him to do...
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Bedrock of the Community
Australia
21788 Posts |
The dealer already has more than enough for his inventory. Thus, if he buys this coin off you, the money he has paid may take months or even years to recover for a profit in a subsequent sale. Cash flow is the lifeblood of his business. Some collectors just keep on collecting with no intention of selling. I am one of them. Where I have many duplicates of some significant value, I just group them all in a secondary lower valued collection. Eventually, the secondary collection will be ebay'ed or sold as a single job lot, or offered as a job lot at public auction. Coin pictured does indeed have some significant value to a collector who wants it. |
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Bedrock of the Community
United States
94367 Posts |
$5 or so seems fair.  |
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Pillar of the Community
United States
5189 Posts |
They should have made these coins of silver. Then at least you could have gotten melt value for it.
So, Moral of the Story: never ever collect nickels and other base metal coins that are too common. If you must collect common coins, stick with gold and silver.
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Pillar of the Community
United States
5189 Posts |
I could throw this one in the trash can as well...  |
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Pillar of the Community
United States
8938 Posts |
Quote:
They should have made these coins of silver. Then at least you could have gotten melt value for it.
So, Moral of the Story: never ever collect nickels and other base metal coins that are too common. If you must collect common coins, stick with gold and silver. I could throw this one in the trash can as well... That's really not the point here. Sorry Ed, you sound way to emotional on this one. I'm with you that the dealer was being crass, but I own many common base metal coins, and like them all! Collect what you like, not what someone else tells you is or isn't collectable. People collect bus tokens, I don't think that's interesting, but some people do. |
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Valued Member
United States
143 Posts |
Whether with or without cents, that's a 140 year old coin in pretty nice condition - not sure who deemed it worthless, I'm thinking at least $5 :)
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Replies: 30 / Views: 3,862 |
Posted 04/13/2021 8:25 pm
