Coins 101??

[AugustMoose87]

Well, August is doing it again... asking a stupid question I'm sure someone will roll their eyes at... But I'm sure someone other than me could benefit from this info as well...

Does anyone had a chart or something that has a breakdown of US coins?? Like I read people saying clad, silver, etc, but I have no idea what years those cover. The long of the short here, is when I am handling money (part of my job) and metal detecting, I want to get an idea of when a dime is just a dime, and when it should be set aside.

I know a few of the obvious ones (wheat pennys, indian heads, buffalo nickels) but am not sure on others...

 

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[Beachkid23]

This should help you out, I use this site everyday.
http://www.coinflation.com/.

 

[unclemac]

https://www.littletoncoin.com/LCC/html/pdf/guide-to-us-type-coins.pdf

do you want to collect or invest? they can be very different things

 

[AugustMoose87]

Both excellent, thank you!

do you want to collect or invest? they can be very different things

A little of both. I'm not planning on going out and buying anything, but when I am handling change (either for work or while detecting) I want to know when I should set something aside, and when it should be thrown in the "clad" pile

 

[unclemac]

any silver change before 1965 is a keeper for U.S. and before most 1969 for Canada. Making type sets is pretty fun and pretty cheap if you just want examples and don't care too much for dates and condition.

 

[AugustMoose87]

Looking at that melt value page, I see pre-'82 pennies are worth double their face value in copper... does anyone use this fact, or do most people count those as part of their clad??

 

[Beachkid23]

Looking at that melt value page, I see pre-'82 pennies are worth double their face value in copper... does anyone use this fact, or do most people count those as part of their clad??

I saved 30 pounds worth. And that's it I haven't cared since I have that 30 pound mark, I'm done with that. Found wheat pennies and a couple Indian heads in the process of searching through rolls so it wasn't a total loss. if I feel like separating them all out because they're in one big jug and I might just take him to the bank again. I don't really see a point in having them but I'm sure others will say different.

That's only because I do a total of yard sales and I can make more money off of buying stuff and reselling it that I'll ever make off of them Penny sitting in a jar.

 

[usandthem]

Get a Redbook.

 

[Red James Cash]

I keep both nickles and pre 82 pennies,I probably have close to 60 pounds right now.

 

[AugustMoose87]

Are you keeping nickles for the metal value in hopes the copper price will go up, or simply saving them because they are worth approximately their face value (unlike clad coins)?

 

[Red James Cash]

Are you keeping nickles for the metal value in hopes the copper price will go up, or simply saving them because they are worth approximately their face value (unlike clad coins)?

Nickles are 75% copper 25% nickle.I keep them both for the metal and face value.Also I keep them to have an easy to work with metal in a SHTF scenario.It wouldnt be to hard to cold forge a nickle into an arrow head if need be.

 

[BigWaveDave]

You are getting lots of opinions here, all of which are valid..my I chime in? As mentioned earlier, get a Red Book...Use it as your coin bible. Don't focus on the value of each coin, but more on the history of certain coins. There are so many avenues to collecting coins, it can be overwhelming for the new collector to choose what to collect and why. Don't overthink the pre 82 copper cents, or different varieties of common coins of today....Focus more on what interests you, and build your collection from there. Visit a local coin shop, and get help in establishing an affordable direction that interests you most. To collect coins exclusively from a cash register or hunting coin rolls from the bank can be an uphill climb, leaving you with coins with little to no numismatic value. Good luck, and also..welcome to the site!

 

[WhiteTornado]

Me personally, I consider any 1959-1981 Lincoln Cent to just be clad.

 

[unclemac]

it's your age...me too...no wheat?..no want...

 

[yorkiemiki]

Are there any Apps for us newbies that can quickly give us a price on a Silver Dollar? I always see them at thrift stores, pawn shops, and garage sales and don't know if they're worth $10 or $40 each or what to offer!!

 

[enamel7]

Are there any Apps for us newbies that can quickly give us a price on a Silver Dollar? I always see them at thrift stores, pawn shops, and garage sales and don't know if they're worth $10 or $40 each or what to offer!!

Only value you could get would be melt value. Try coinflation.com.

 

[dejapooh]

You are getting lots of opinions here, all of which are valid..my I chime in? As mentioned earlier, get a Red Book...Use it as your coin bible. Don't focus on the value of each coin, but more on the history of certain coins. There are so many avenues to collecting coins, it can be overwhelming for the new collector to choose what to collect and why. Don't overthink the pre 82 copper cents, or different varieties of common coins of today....Focus more on what interests you, and build your collection from there. Visit a local coin shop, and get help in establishing an affordable direction that interests you most. To collect coins exclusively from a cash register or hunting coin rolls from the bank can be an uphill climb, leaving you with coins with little to no numismatic value. Good luck, and also..welcome to the site!

In fact, the Prices in the Red Book are really nothing more than an indicator of potential value. If every coin is Priced at $5 in the red book, and this particular date/mint is priced at $50. You do NOT have a $50 coin, but you have a coin that deserves more research. There are various websites that have much more accurate pricing, but the red book is a nice way to get to know what you have and what needs more research (most coins do not require more research). For this reason, a Used book anywhere from 1980 to present will work just as well as a new one.

 

[dejapooh]

I understand what you are saying! But for someone just learning, this might be tough with too old of a book. There have been huge changes in gold and silver. The silver and gold value exceed some of the coin values.

Like I said, I understand what you are saying! Same thing with all price guides, they are just starting points.

True, but I think most people realize that silver and gold fluctuate from day to day, much less than year to year. This points them to the idea if they have something more than silver or gold values. I should have been more clear about that. Thanks.

 

[Groovedymond]

In regards to the keeping of 1982 Lincoln Cents and earlier. It is true that their metallic value exceeds their face value. I've seen time and time again where people begin to have hoards (large and mini) of these 'copper' Lincolns.

The only issue I see is this. Currently, it is still against the law to melt these coins down into their basic raw material. So, what we really have here is people hoarding these copper based coins in HOPE that one day, it will be okay to melt them down.

I can only see two scenarios....

One is that the law is passed where you can melt these down. The people who saved these coins are going to make a bundle of money.

Two.. A law is NEVER passed to allow the melting of these coins. The issue with this scenario is that there is rumors and speculation that the Cent will soon not be a denomination that is made. If that is the case, it essentially makes these coins worthless.

Its a gamble either way... Personally, I only keep Wheat Cents myself, where they are easy to sell by the roll or by the pound for double their face value (or more).

 

[Turbo21]

Are there any Apps for us newbies that can quickly give us a price on a Silver Dollar? I always see them at thrift stores, pawn shops, and garage sales and don't know if they're worth $10 or $40 each or what to offer!!

The conflation app will give you silver values

Pcgs has a free price guide app that will give you numismatic values

Pcgs also has a free photograph app that will show you examples with pictures of how coins are graded