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Looking for a basic education on coins please.

I have yet to dig up anything really, (recovering from surg) but I would like a basic education on coin finding and why you guys look for them. One thing I'd like to know is when you have dug up an old silver coin say, when speaking of value, what gives the coin value, the age, the fact that its silver?? For instance is a hundred year old coin most valuable for the silver content or because its old coin thats hard to find? What draws you guys/gals to coin hunt? Any helps for a beginner to learn about coins and what their value is? Links? Thanks and good luck hunting. :)
Ken.
 
I don't usually sell my finds.. So value isn't my main goal.. That said........ A rare date coin can be a big profit.

Unless I am extremely off course here.........Most are in it for the Hobby/Hunt ......... You never know what your going to find.. It's fun to be out looking..........relaxing for many....

And ........ Everyone likes to find treasure..
 
Elton said:
I don't usually sell my finds.. So value isn't my main goal.. That said........ A rare date coin can be a big profit.

Unless I am extremely off course here.........Most are in it for the Hobby/Hunt ......... You never know what your going to find.. It's fun to be out looking..........relaxing for many....

And ........ Everyone likes to find treasure..

Thats pretty much where I'm at, I just want to hold in my hands something that others used 100 or even 200 years ago, be it coins or tools or whatever. Was just curious what gives an old silver coin its value, the age or the silver. Looking forward to diggin up that first coin!
 
When the price of silver is down then collection value will most times win out.
But at current silver prices most silver coins lose out to silver value.

Now keep in mind that the above is based on just value and not personal preference, that just means that they are a good number of people that will not sell their finds at all unless VERY hard times set in (desperate times).

Some will hold out until they have enough to cash in for a larger pile of cash. (help pay for their hobby, ect..)

For coin hunting you would do good to get a coin book, one of the common ones for US coins is the,
"Whitman The official Red Book"
The Guide Book Of United States Coins,
R.S.Yeoman

With a book like the above you can easily look up minted numbers for a certain coin and the retail collectable value it.
Finding a rare coin is well, rare LOL, but they do turn up from time to time.

For me after finding enough common coins like common mercury dimes, Roosevelt dimes, or Washington Quarters then I just see them as silver value, but they make the hunt so interesting that I won't quit hunting if they keep turning up.
Now if I find a Morgan coin even if it was a common coin and never throught of as rare I'm likely to hold onto to it because in my hunting area it is very RARE to dig one, so when one comes out of the ground it always brings a lot of excitement!

To each person its a little different, but to all that coin hunt, finding silver is always a thrill, but coins seems to bubble the blood a little more than silver jewelry even though silver value is just that silver value. So, they are some things that just can't be explained LOL!

Mark
 
The less that were minted and the better the condition increases a coin value. It is the old supply and demand. Never clean an old coin

HH
 
Like others have said.Silver value, and numismatic value in some circumstances. Dug coins do lose value to a collector, and or a dealer..

May I suggest you stop by a book store, or a coin dealer and check out the books on coins. Most serious collectors buy a weekly paper published with prices of coins and resale values....

Welcome to the great Hobby of detecting. May you find an abundance of good items.......... You attitude seems good for detecting....... you like to recover old things from the ground....
 
Elton said:
Like others have said.Silver value, and numismatic value in some circumstances. Dug coins do lose value to a collector, and or a dealer..

May I suggest you stop by a book store, or a coin dealer and check out the books on coins. Most serious collectors buy a weekly paper published with prices of coins and resale values....

Welcome to the great Hobby of detecting. May you find an abundance of good items.......... You attitude seems good for detecting....... you like to recover old things from the ground....

The silver coins that come of the ground around where I live look exactly the way the did when they were dropped, never black or even darkened.
Now, copper is another story.

Mark
 
I had $30.00 in silver a dealer offered $500.00 going by weight.
I took it been sorry ever since
1 SILVER dollar from 30s may have brought that much
 
leroy1937 said:
I had $30.00 in silver a dealer offered $500.00 going by weight.
I took it been sorry ever since
1 SILVER dollar from 30s may have brought that much
Silver dollars in the 30's (assumed 1930's?)
All very fine condition,
1934 $25.00
1934-D $25.00
1934-S $75.00 this one in MS-66 condition is worth $29,000
1935 $25.00
1935-S $25.00

Now here is one that if I found it I wouldn't sell it! (silver dollar)
1928 with only 360,649 minted and in VF-20 is worth $475.00 Now it is possible to dig one of these! that's part of the excitement.

Some coins can be worth a LOT of money, that's why you'll need a coin book.
Now, they are two different book value's,
Blue Book, and
Red Book.
Blue book is what you might expect a dealer to pay for the coin!
Red Book is what you might expect to pay if your buying from a dealer. (High Retail)

All the prices above are Red Book high retail, so, don't expect to sell at that price!

Mark
 
I'm looking 4 that diamond ring worth $2000.00 dollars and those pull tabs and coins get in the way
 
Yea Mark.They look good here too..But dealers said fine scratches hurt the value. Maybe I went to a bad dealer !.
 
Elton said:
Yea Mark.They look good here too..But dealers said fine scratches hurt the value. Maybe I went to a bad dealer !.
probe gouges are one thing,
but fine scratches isn't part of coin grading unless you get into proof or uncirculated.
Coins especially silver ones took a hard life in circulation, machine rollers, scratch them, coin counters rip the crap out of them in fact they take a lot of abuse.
looking at my coin book it tells how to grade for overall condition and its about wear,
Things like is the hair visible,
Are all the stars visible,
Sharp defined date,
ect...
Now the grading that I'm taking about is for standard grading like,
poor condition,
good condition,
very good condition,
Fine,
ect...

Now the problem in handling them and rubbing them off out of the ground is not so much an issue with the modern silver like the Washington quarters, merc dimes ect... but those that are very OLD and very worn! these sometimes are worn to the point that the date is near gone and rubbing them or scrubbing them and then the date or mint marks may be really gone! If you have a buffalo nickle with NO date its worthless! period!

Now I have found corroded copper pennies that you could see the date when I found them, but when I de-crusted them the date was gone! they would have been WAY better off left alone, but none of those were rare coins, nor that old, so nothing was lost.

Speaking of scratches,
Some time back I stumbled across a bunch of Mint Rolls of Kennedy Half dollars (uncirulated) Boy are they pretty, but boy are they scratched!
Now they even ways to grade uncirulated coins, but most of the time it would be for a rare coin.
I remember years ago when my brothers collected coins, when they found one that they needed to fill a missing date and it was worn badly they ALWAYS handled them by the edges.

Real coin collectors are not looking for common modern silver, except for the VERY rare limited numbers of some dates, or ones like double died.

So, I am careful about pulling coins out of the ground and how I handle them, until I can get enough idea of just what coin it is and how much wear it has.
Where I live the oldest coin I've seen come out of the ground was a Large Cent in the later 1800's. So old for here is right around 1900 to much of the rest of the world this is considered "modern coinage"
Now the folks that live around the New England area where they find 1600's and 1700's coins. (Good Griff by all means handle them very carefully)
I NEVER FOUND A COIN THAT I COULDN'T GO ON EBAY AND FIND ONE BETTER FOR HARDLY NOTHING!
I've never seen a decent condition large Cent come out of the ground! NEVER! but I have one buried in my test garden that I got for $4.00 bucks at the flea market and its in pretty good condition! (but its also a common date) Those large cents are really nice finds because they are getting back past 100 years, so its a real joy to find them, but no matter what you do to them most will not be worth more than a buck or two, at lest for another 100 years or so, LOL!

Now copper is funny around where I live, they are areas where I have dug them dated as old as 1920 and they not be corroded, dark and dirty but not corroded, other places and the same dates will be green and corroded?? But for silver! it always looks fresh dropped, now if its wet out they will have a little mud on them, but when you roll a plug out and there is silver in the hole, it jumps out at you! NICE!.

Mark
 
n/t
 
Elton said:
Oh, Elton when your talking to a coin dealer they will ALWAYS devalue your coins in
an attempt to get them for less! but try to buy something from them and they talk a different story

Below is two pictures of a 2004-P Kennedy Half Dollar, it is uncirulated! (Micro Pictures) Keep in mind that these have not EVER been put into circulation, I took them out of the US mint rolls with gloves and laid them on a clean soft towel, then one by one I placed them into coin rappers. I had two roll of each,
2001-P
2001-D
through
2008-P
2008-D

I kept two sets, sold a couple of sets on ebay, couldn't move anymore so I rolled them up in regular paper coin rolls and took them to the bank.

Mark
 
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