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Crash
Penny Pincher Member
USA
155 Posts |
 Posted - 09/13/2007 : 09:00:32
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I work for a company that has delivery drivers make daily deposits. The people that handle the deposits know I collect coins so over the last several years I've gotten roughly 15 silver coins(mostly dimes.) Yesterday, I got my first mercury dime. The thing is, it just astonishes me that these coins can still turn up in change after all these years. Has anyone else had a similar experience, recently?
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/13/2007 : 09:51:48
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I am not sure what kind of product you are dealing with, but I know somebody who for years owned a small business. Kids would come in there from time to time and buy goodies with money they "found" in their parent's closets. This money included silver coins as well as some silver certificates. The owner was wise enough to set these items aside to start a collection. Although, I believe that in at least one of the more flagrant cases, he tracked down the parents and returned the goods.
So I think that silver and other collectible money is slowly, but constantly getting put back into circulation by kids (either young ones or inheritors) and burglars. |
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Crash
Penny Pincher Member
USA
155 Posts |
Posted - 09/13/2007 : 11:05:00
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| I work for a beverage distributing company and most of the sales are on a cash basis. I was bugging the clerks for copper cents, too, but I realized I was beginning to be a pain in the a$$ so I decided to leave them alone. Most of the cash collected comes from Mom & Pop convenience stores. Most of the chain stores pay by check. |
Edited by - Crash on 09/13/2007 11:07:43 |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/13/2007 : 16:02:51
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For some consumers a dime is a dime is a dime. I used to work in a convenience store part time many, many years ago and silver coins would turn up maybe one silver coin once a week.
I think it is much like public opinion concerning copper pennies, a penny is a penny is a penny, not realizing the potential profit that can be had in the future.
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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centsless
Penny Pincher Member
119 Posts |
Posted - 09/13/2007 : 18:06:52
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| this isnt recent but about 6 or so years ago i went to a drug store near where i worked and bought something. in the change i got back was a 1938 mercury dime. i was shocked to get such a dime in circulation. Sometimes cashiers just dont take the time to examine coins too closely. if it is roughly the same color as a dime and size of a dime it must be a dime. pencilvanian is right about profit potential being lost on most people. a whole generation has grown up who dont even realize dimes quarters and halves made before 1965 are silver. |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 09/14/2007 : 08:00:43
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"profit potential being lost on most people"
The first thing that people think/say when I tell them that a copper penny is worth 2 cents is sarcastically "wow a whole penny profit." Even with a silver dime most people are thinking "Big deal, 80 or 90 cents profit. What is 80 cents going to buy me these days?"
So, I think the problem is that most people don't think in percents. Instead they think in absolute amounts. In absolute amounts, the profit on a copper penny or a silver time look pretty puny. But as any business minded person knows, a 100% profit is a big deal and a 800% profit is a HUGE deal.
Also to a person with no silver hoard, a single silver dime really is "worthless". There is a flat cost in time and money associated with selling a silver hoard and that cost exceeds the value of a single silver dime. It is just not worth while selling a single silver dime (even your average mercury), so you might as well chuck it 
The same thing goes for wheat pennies. In fact with wheat pennies, you probably need 2 or 3 rolls before it is worthwhile to sell them. So you might as well chuck those too if you don't have 100+ of them. 
By the way, if anybody needs my address to take advantage of my free coin disposal service let me know. |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 09/17/2007 : 18:18:46
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Developing a business to "help" the sheeple, horgad?
I don't blame you. These same "geniuses" were the ones who thought beanie babies, dot com stock and real estate would be the road to riches, not realizing that an Exit strategy is ten times more important than an entrance strategy.
Best to help the sheeple from holding onto their old coins that they will only end up spending the first chance they get, best to give them "real" paper dollars for their coins. (P T Barnum would be proud.)
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly. |
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davycoppit
Penny Pincher Member
USA
126 Posts |
Posted - 09/17/2007 : 19:20:50
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| I found 4 silver dimes today. I went through a box of dimes. Last week I also found a silver dime in my roomates change. The oldest I have ever found was last year on my friends apartment floor. It was a 188- Canadian silver dime. Congradulations on your find. |
Edited by - davycoppit on 09/17/2007 19:22:28 |
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centsless
Penny Pincher Member
119 Posts |
Posted - 09/21/2007 : 23:36:55
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| my wife puts her extra change in a jar, and after a hefty accomeulation she lets me roll it (with me taking out the copper pennies of course). found a 1959 dime the other day. |
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just carl
Penny Hoarding Member
USA
601 Posts |
Posted - 10/01/2007 : 11:40:52
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Note coin values may be worth only a small amount per coin as noted here in a post. However, all it takes is one of those worthless cents, for instance, to have a 1914D date to make it all worth any collection. As to Mercury Dimes. Note even the more common date ones are now worth quite a lot if in decent condition. Yes even one Dime could be worth thousands of dollars. If anyone is having a giveaway of those, let me know. With Mercury Dimes more an more error types or varieties are being discovered now with the new coin collecting boom in progress. Many large and small dates are appearing besides the famous 45 Micro S. Reverse rotations are being found in excess making them also very valuable.
The big thing to remember is with the coming of the 100th Anniversary of the Lincoln Cent, all such coins are beginning to sky rocket in value and some will become very, very expensive soon enough.
As horgad noted most people don't think in percentages. Yes, many do. A 1922 Plain Lincoln Cent is a cent(penny) worth as much as $27,000 in a high grade. Now exactly what percent is that when a coin is a $0.01 coin worth $27,000? HMMMM. Gee is that more than a few percent?
Carl |
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1941 Mercury Dime
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