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  1. #1
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    Which penny's to collect vs. discard

    Clearly another newby question Other than currently rare/valuable coins, what sort of guidelines do collectors use to help in deciding which coins are worth holding on to for potential future value - quality, circulation qty, ??? I realize many will keep various coins based on their individual collection preferences. Following are some penny's I've found that might be of sufficient quality to keep?? What do you thin?

    1964-1 LMC Obverse edit.jpg 1964-1 LMC Reverse edit.jpg
    1964-1 LMC
    1964-2 LMC Obverse edit.jpg1964-2 LMC Reverse edit.jpg
    1964-2 LMC
    1964-3 LMC Obverse edit.jpg1964-3 LMC Reverse edit.jpg
    1964-3 LMC
    1964D-1 LMC Obverse edit.jpg1964D-1 LMC Reverse edit.jpg
    1964D-1 LMC
    1964D-2 LMC Obverse edit.jpg1964D-2 LMC Reverse edit.jpg
    1964D-2 LMC

    THANKS AGAIN!!!!

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  3. #2
    Registered User GrumpyEd's Avatar
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    Those are all nice to be found in circulation.
    None really are worth saving, you can buy a solid uncirculated full red roll of 64 or 64D for a few dollars.
    I'm noit even sure the uncirculated rolls have much upside, I mean they might go up to $10 if we live another 25 years but the same money invested would do better.

    Looking at prices for coins, the really good stuff (like high grade rare coins) has done ok over the last 20 years. Most common stuff has dropped. Uncirculated cent rolls might have doubled.

    In general, collector coins like I loved to fill folders with are not doing well. If you talk to dealers they'll say more people want to sell them, most buyers are buying maybe a proof set for someones birthdate or bullion but it's not like the old days when lots of people filled folders/sets and went to the coin shop to fill holes in their folders, many old collections get sold because of our demographics, most collectors are old and some dying off and less young kids care about coins than in the past. There isn't a big demand for normal circ collector set type coins.

    It might sound negative but I think collecting is best for fun, maybe dealers can make money on buy/sell spreads but holding average coins for the next few decades probably isn't a money maker.

  4. #3
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    Quote Originally Posted by GrumpyEd View Post
    Those are all nice to be found in circulation.
    None really are worth saving, you can buy a solid uncirculated full red roll of 64 or 64D for a few dollars.
    I'm noit even sure the uncirculated rolls have much upside, I mean they might go up to $10 if we live another 25 years but the same money invested would do better.

    Looking at prices for coins, the really good stuff (like high grade rare coins) has done ok over the last 20 years. Most common stuff has dropped. Uncirculated cent rolls might have doubled.

    In general, collector coins like I loved to fill folders with are not doing well. If you talk to dealers they'll say more people want to sell them, most buyers are buying maybe a proof set for someones birthdate or bullion but it's not like the old days when lots of people filled folders/sets and went to the coin shop to fill holes in their folders, many old collections get sold because of our demographics, most collectors are old and some dying off and less young kids care about coins than in the past. There isn't a big demand for normal circ collector set type coins.

    It might sound negative but I think collecting is best for fun, maybe dealers can make money on buy/sell spreads but holding average coins for the next few decades probably isn't a money maker.
    Thanks for the candid feedback. Disappointing but I don't want to waist a lot of time collecting/saving "ordinary" coins except maybe to fill some folders.

    I assume the same is true for even older coins including wheat cents unless considered rare or sought after varieties??

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  6. #4
    Registered User GrumpyEd's Avatar
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    I assume the same is true for even older coins including wheat cents unless considered rare or sought after varieties??
    Pretty much, common wheats linger at 2-3 cents in circ grades. If you put a cent into EE bonds at least it doubled every 10-15 years so even a 1958 cent would be 5-10 cents with compounding so that's more than the increase for hoarding the cents. Still, if you hoarded nice unc rare ones you would have done better. Saving moderns in unc rolls might beat saving older circ brown coins and saving any nice unc older stuff you find searching is ok. Bottom line is cents with huge mintages probably aren't worth saving in circ grades.

    Even rare stuff isn't always a winner, if you bought key date cents like 14-Ds and 31-S and S-VDBs maybe 10-20 years ago you might break even today so again, investing would do better. If you bought top quality unc key date coins 20 years ago you might do better but most of us don't have the money to buy those top grade key date coins.

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  8. #5
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    Thanks for the advice Grumpy! Collect for fun and maybe get lucky with a few varieties like my 1984 LMC WDDO-001.

  9. #6
    Paid Member WaterSport's Avatar
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    If I may add that no one to my knowledge got rich being a cent collector. They may break even at best. When collections are sold at auction, the fess, and other expenses usually eat any profit made over time. Worst yet, if the collection is sold to a dealer he/she will cut any profit further since they will buy low. High end Memorials are a losing proposition. I can put you in touch with several Memorial only PCGS top rated collectors who lost thousands of dollars when those MS 66 and higher cents went to be sold. So if they are not profitable, neither will be holding on to circulated examples. Scott Travers wrote in one of his books to collect for enjoyment and not profit. I would also add you will save lot of money just being focused by setting some goals. Lets face it, you can not collect everything. If you do, its called an accumulation and not a collection. A collection is what you should be proud of and know what you have and why your holding on to it.

    WS

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  11. #7

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    MrBill: I in no way wish to hijack your thread (I have to watch it, because on other unrelated forums, I have been known to hijack my own!) so I ask this question only with your permission:

    WaterSport (and anyone else): I completely understand the enjoyment versus "investment" aspect of all collecting, however, I had not thought about what you say with regard to cents being somewhat harder than maybe silver or gold--where retention of value is concerned. So in my case, other than filling albums with 8 series of coins, I have two goals: First, a nicely representative type set (minus super-expensive varieties and sub-varieties) from the 1790s on, and second, as I have said in a different thread, specializing in assembling a very nice set (Say AU50 or better) of Lincoln Cents. And I almost certainly will still do that. But it sounds as if you are saying (or at least, implying) that strictly from a value-retention standpoint, putting the money into slabbed coins of say, MS 60 or better such as Seated Liberty or Barber issues, gold coins, or even flowing hair and draped bust/liberty cap type coins of lesser grade would be more likely to be profitable.

    All that having been said, what is way more important is that I really, really, really, really like Wheat Reverse Lincoln Cents--and just completed my first collection of circulation strikes.

    Thanks and Best regards,

    Russ

  12. #8
    Paid Member WaterSport's Avatar
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    Sounds like a good plan. Since I do not collect any other series at this time I would say that education is the key to collecting any series.

    WS

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  14. #9
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    Well again thank for the comments. Clearly I've touched on a touched on a sensitive subject. I do not intend to purchase coins, only looking through coins I've collected over time, bank rolls and coins from friends & family. I have been reading material in books & on various website and hoping to learn more by asking questions. Not easy to determine what quality coins are worth saving just by reading and certainly will not submit for professional grading unless I find a particularly rare coin. So part of my question was an attempt to get an idea as to what more experienced collector consider worth collecting.

  15. #10
    Paid Member WaterSport's Avatar
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    Well if you go back to talking Varieties, then I would have to say the door is wide open. After all, many late date variety memorials and shields can hold an equal premiuim to older wheat cent varieties. Since your roll searching you have an excellent chance to find some rare varieties like many of us here have done. A few of us here focus on Wheats because we cherry pick auction and dealer sites. Personally I usually do not bother beyond 1934. But thats just because my pea brain can not remember every variety there is - so its back to narrowing down my focus. But if I was searching rolls again, the dates that would stand out for me would be 1970 - 1996. But that is just me, I am sure others will chime in.

    Good luck and keep us posted.

    WS

 

 

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