Tips from MT Coin Collectors
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Tips from MT Coin Collectors
Posted by RickAstley on 12/26 at 12:40 pm
I have been doing some personal coin collecting over the last 4-5 months. I generally place all of my loose change in jars and then every so often I will get on a coin kick and filter the coins for specific years, wheat pennies, bicentennials, silver, minting errors, etc... I want to advance my collection to some degree in order to preserve its current value and build on it for future searches through my coin pile.

A few questions immediately on top of my head for the board:
When coin roll hunting, what order do you have when requesting rolls of coins? Such as do you go the route of asking for half dollars, then quarters, nickels, etc..?

What are preferred storage methods that are compact when space is a premium and protective of the coin's condition?

What is your method of coin collecting?



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Posted by LSURussian on 12/26 at 12:51 pm to RickAstley
quote:

What is your method of coin collecting?

eBay



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Posted by RickAstley on 12/26 at 1:44 pm to LSURussian
I am certainly not against using ebay, but I want to make sure I take care of what I have before I start coin trading on ebay.


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Posted by Broke on 12/26 at 2:18 pm to RickAstley
How many coins are you collecting. I've collected for around 38 years.


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Posted by RickAstley on 12/26 at 2:32 pm to Broke
I've only researched U.S. coins so far. My collection is primarily American with a small sack of foreign change. I know little to nothing about foreign change and I am not trying to learn much about it for the meantime. I don't have a limit on size of my collection at the moment until space becomes a premium. Right now I am collecting coins based off of google information.

I sort pennies based on before 1982, wheat pennies, steel wheat pennies, and specific year dates for minting defects.

Nickels I have been keeping if they are before the 60s, and i have a couple of buffalo nickels.

All dimes, quarter, and half dollars I keep before 1965 for silver content. I have some bicentennial quarters and half dollars as well that I preserve. And any old coin I like to hold onto simply for its age. I have a 1922 Peace dollar that is pretty neat although it doesn't have a great value.

Simply put, I have been inspired by my dad, since he started collecting coins as a kid. My grandfather would give him some money from each pay check to get a coin roll from the bank and develop a collection from. His is very elaborate and organized for old coins


This post was edited on 12/26 at 2:33 pm

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Posted by Broke on 12/26 at 2:39 pm to RickAstley
OK, you are just finding a few old pieces. I have everything from half dimes to $20 gold certificates. I would try to form a partnership with bank tellers and get them to call you if anything old and good pops up. Also buy a binder, some coin sleeves and pages to put the coins in. Inside of their sleeves. This will save you some space.


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Posted by RickAstley on 12/26 at 3:10 pm to Broke
That is one thing I was looking at this morning was storage vehicles. I can certainly talk to the tellers at least at my bank, but I know they do not keep rolls of half dollars which is of particular interest of mine.

Also any information on $1 coins? Would I be wasting my time coin roll hunting $1 coins? I am having a hard time with finding many discussions regarding them



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Posted by OnTheBrink on 12/26 at 3:14 pm to RickAstley
quote:

but I know they do not keep rolls of half dollars which is of particular interest of mine.


They can order them. I often would check with a guy at the bank and people would bring half dollar rolls in. It was hit or miss. He told me he was going to try ordering them cause apparently I was not the only one looking for them. He got $600 in, which are gone now. I ended up getting around $250 worth. Just went today and said I was going to have to check back next week.



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Posted by Broke on 12/26 at 3:48 pm to RickAstley
quote:

Also any information on $1 coins? Would I be wasting my time coin roll hunting $1 coins? I am having a hard time with finding many discussions regarding them


I don't hunt at all. I either come across coins or I buy them.

And you need to make some type of financial incentive for those tellers to call YOU.



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Posted by RickAstley on 12/26 at 3:59 pm to Broke
quote:

And you need to make some type of financial incentive for those tellers to call YOU.


What kind of incentives have you provided or heard about from others?



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Posted by RickAstley on 12/26 at 3:59 pm to OnTheBrink
Are you looking for primarily silver half dollars?


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Posted by OnTheBrink on 12/26 at 4:07 pm to RickAstley
Yes and no. He has told me that most of them are picked through. I use them and dollar coins just as a way of saving. Makes it a hell of a lot harder to spend carrying around fifty cent pieces and dollar coins than it does cash.

I have been acquiring silver bullion (coins and bars) over the past couple of months. I recently purchased a $1 roll of war nickels from APMEX. Pretty good price, link below.

LINK



This post was edited on 12/26 at 4:10 pm

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Posted by LSURussian on 12/26 at 4:26 pm to RickAstley
So you're looking for containers for bulk storage of coins?

I don't do bulk. I collect individual 19th century silver coins, mainly with New Orleans mint marks but also some Carson City coins. I have half dimes, dimes, quarters, halves and dollars. "O" mint marked coins are becoming increasingly harder to find and correspondingly, more expensive.

I use the individual coin wrappers sold at Hobby Lobby. They have a clear center with cardboard around the coin which you can write the details of the coin on.

Also several dozen Roman coins.

The closest I come to bulk collecting is Indian head pennies. I have several hundred of those stored in penny coin tubes from Hobby Lobby.




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Posted by RickAstley on 12/26 at 4:47 pm to LSURussian
I definitely want bulk storage for wheat pennies and pennies before 1982 since I have more of those than all of my other coins combined. As for my buffalo nickels, war nickels, and other rare coins, I prefer storing those in a protective manner to preserve their condition.

Considering I am still very much a novice, it interests me in knowing what methods the MT readers use for storage. My dad has several coin tubes for pennies, nickels, half dollars. He also uses cloth and booklets. Just reading online, most of the coin collecting blogs would probably barf at his method of storage, but to his advantage he can keep his entire collection in a mid sized tackle box.



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Posted by RickAstley on 12/26 at 4:52 pm to OnTheBrink
Interesting, as far as your bank buddy goes, was he referring to the bank picking through the rolled coins first? I am not against ordering rolls of half dollars if they are not already picked for silver. I realize I will have wasted a countless amount of time when it is all said and done, it still is entertaining, and a safe investment


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Posted by chuckitdeep on 12/26 at 6:44 pm to RickAstley
I understand the collecting pre 1965 dimes and quarters for silver. What is the significance of the 1982 pennies and 60's nickel?

My grandfather gave me about 60-70 pre 1965 dimes, quarters, 1/2's and dollars. Pretty cool and has me intersted as well. Looking to get more involved in the coins too.



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Posted by RickAstley on 12/26 at 7:13 pm to chuckitdeep
I'll dive more into this again tomorrow, but the composition of the penny changed during 1982. The melt value on pennies before 1982 are twice the face value right now. You would have to have a significant amount of pennies for it to be worthwhile. I've got a collection going already that isn't hurting me staying in storage since it won't gain me anything sitting in a bank account.


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Posted by matthew25 on 12/27 at 12:47 am to RickAstley
Next to impossible to find silver coins today. Bank employees are also coin collectors and several sell on ebay.

You may want to buy a large (5000) wheat penny lot through ebay and have some fun.

I have had luck in people selling their entire collections to me. I have paid 85% of coinflation.com silver value, up to 90%, depending on how fast the seller wanted the money. The sellers had received the coins from in-laws or grandfathers.



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Posted by Lsut81 on 12/27 at 7:01 am to matthew25
A little late to this party, but can someone explain to me where the value is in old silver coins, pre 1964 or whenever they quit using silver?

Is the money to be made in the rarity and selling them off 1 by 1 or is it selling off in bulk troy ounces?

TIA



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Posted by HeadyMurphey on 12/27 at 7:41 am to Lsut81
quote:

but can someone explain to me where the value is in old silver coins, pre 1964 or whenever they quit using silver?


The silver content is worth more than the monetary value. I believe they contain 95% silver.



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