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 Replies: 17 / Views: 1,790 |
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Rest in Peace
United States
954 Posts |
Hi all, I need some feedback. I recently purchased a couple rolls of Indian Head cents. They are in the G to VG grades. As normal I found a few bad ones. Overall they were nice rolls. I was discussing with a few of my collector friends what they thought I should do with the bad ones. Under normal conditions I would throw them in the trash thinking they won't appear in a roll again. My friends thought I should keep them because that's all some people could afford. Another felt I should give them to a club or something like that. The coins may have stains, pitting, rim bumps or other problems. In most cases the dates are clear and the coin is easily identifable. What do you think I should do with these coins..? catman |
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Rest in Peace
United States
2884 Posts |
How about donating them to a club or to an event like CoinFest that ND is sponsering? Mike
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Pillar of the Community
United States
980 Posts |
quote:
Originally posted by Mike
How about donating them to a club or to an event like CoinFest that ND is sponsering? Mike
My thoughts exactly. Catman, I find it admirable that you want to keep these out of rolls. But I think that folks with an eye for high end coins forget what it is like for newbies young and old to fill slots in Whtiman albums. I cringe when I think of my early 70s Lincoln Cent collection, which I would cull from circulation, and upgrade as I found better examples, and the "modern" plastic pages which ultimately damaged the coins, but it mattered to me at the time. |
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Pillar of the Community
United States
7123 Posts |
Hi Catman
Of course donating them to an organization or event would be a good thing to do!! I will just let you know what I do with some of my coins that I do not add to my collection, I have put together several shadow boxes with various coins in each type written decriptions below each and have given them to the local elementary school as wall displays for the History class room, they are attractive and let the kids see what the coins that they will never see in circulation looked like.
These have been a very easy way to expose kids to coins and coin collecting as well as a bit of numismatic history that they may not otherwise receive.
Rick
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Pillar of the Community
United States
2724 Posts |
While I appreciate the CoinFest nod, my suggestion has always been to put "unwanted" coins into 2x2 cardboard holders with a coinclub or other label and use it for a tip or gift at the local bank. I have been passing out coins to promote the CoinFest event. Bank tellers love them as much as the kids  |
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Pillar of the Community
United States
4869 Posts |
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Rest in Peace
 United States
954 Posts |
Thanks all for the input. I will give it some thought and let you know what I decide to do. Thanks again.
catman
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Pillar of the Community
United States
867 Posts |
You could always drop a few of them in your change you bring to the bank to be counted and see if any of the tellers are observant! Rachel [:p] |
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Valued Member
United States
458 Posts |
To throw them away no matter how bad they are is wrong (IMHO), I do say however my friend, if you don't want them--put 'em back into circulation---let sumbody else write on some forum somewhere what "interesting find from circulation" item they found in circulation today, was a coin YOU put out yesterday--  --Just a thought, after all it is still money no?  Edited by CiScO
05/05/2005 6:08 pm
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Pillar of the Community
United States
2271 Posts |
Nice cull indians will sell for up to 50c each and even typical culls will go for 25c. Bad culls with holes, bends, no-date and the like will go for as little as a nickel.
Many of the best culls can be rehabilitated and will sell for $1.
It really doesn't do any good to toss out coins because they just keep coming anyway. Eventually someone who deals in the low end coins will end up with them.
At the lowest end are unidentifiable old coins or extremely common coins with massive problems. Bronzes of this sort often end up in sculptures and the precious metal coins are recycled. Others do end up in the garbage.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2724 Posts |
quote:
Originally posted by cladking
Nice cull indians will sell for up to 50c each and even typical culls will go for 25c.
You must have one heck of a market in your area to be getting 50 cents. |
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Pillar of the Community
United States
2271 Posts |
quote:
Originally posted by national dealer
quote:
Originally posted by cladking
Nice cull indians will sell for up to 50c each and even typical culls will go for 25c.
You must have one heck of a market in your area to be getting 50 cents.
The best buyers do some national advertising and one is very aggressive. If anyone's interested I'll try to dig up the address. The low end market is a niche market with only half a dozen major players but some bigger companies do dabble in it. A lot of these coins go in for "repair". In many cases the problem with a coin is insignificant and can be corrected with a proper cleaning or just allowing the coin to "age" a little. There are buyers of damaged coins for jewelry and other purposes and a lot will end up in these uses. A big gouge on the reverse of an indian that is made into a button won't even be noticeable. Many culls and cleaned coins can be picked up very cheaply and value added with little effort. Indian cents have at least six distinct categories of culls, and can be further divided by date, grade, and severity of problems. Time don't fly, it bounds and leaps.
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Valued Member
United States
421 Posts |
I would agree that givign them to a youngster, spending them or leaving them as part of a tip would be a cool thing to do. No way could I throw them away.  Edited by Stujoe
05/06/2005 3:38 pm
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Pillar of the Community
United States
2724 Posts |
Cladking,
Please do. The dealers that I work with on a regular basis sell full rim Indians at 40 cents. So flipping them in good quantities is worth the effort.
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Pillar of the Community
United States
2271 Posts |
I used to be pretty familiar with these markets but have been out for years and years. Covina Coin(204 S Citrus Ave, Covina, CA 91723)pays $1 each for nice good coins. If it's a mixture of F, VG, and G with very few AG's as they typically are then they'll pay this price even if there are a few off coins but you have to leave the better stuff in. Do pull out the culls. Littleton pays $1.10 (or did recently) but they want no problem coins and nothing under a nice solid G. Anything with dings, discoloration, below G, cleaned, or unattractive will be returned.
Let me get back to you on the cull buyer. They're in one of the Carolinas and their name escapes me right now.
Time don't fly, it bounds and leaps.
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Pillar of the Community
United States
2724 Posts |
I deal with Littleton frequently. Their guidelines for FULL good is tough. Covina Coin is also one that I am familiar with. Full good coins bid at $1.25 for the more common late dates. Cull coins are always the hardest to get rid of. Most of the dealers that I know that deal in the lower end material buy at 30 cents and sell at 40 cents for coins that don't meet with full good. I very rarely buy any coins that fall into the lower grades (except for forum members) but would love to flip a few thousand coins at a Twenty Cent profit per coin. Edited by national dealer
05/06/2005 8:30 pm
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Replies: 17 / Views: 1,790 |
Posted 05/04/2005 12:49 pm
