What Do I Do With Useless Coins?

[MimiJ]

So I’m rolling up all my coins to take to bank and get cash. I spend way more time than I should and it’s just not fun anymore, especially when no one else is interested.

I started out doing this with my grandsons but they are young and have kind of lost interest. Then I thought my husband might want to do this with me, but he has no interest.

So my question is this, what should I buy? I am keeping anything silver and those my father in law had to give to grandchildren someday. And I don’t really have a “favorite” coin, but I would like to invest in something of value or that will increase in value. Wondering if I should try to finish what I can of my father in laws books or something else. I have finished some of them and some will have to remain unfinished due to cost of what’s missing.

I know nobody wants to tell somebody what to do, and I understand that. But y’all are the most honest, knowledgeable people I know, so I’d like to hear your thoughts or suggestions. I’m guessing I have around $800, not a lot I know, but there’s got to be something I can invest it in.

Thanks for your wisdom and direction. You are an awesome community!!!

[Daniel]

I would finish the books, that will have the most meaning to you, but don't do anything in hopes something you buy will increase in value. One other suggestion is buy a key or semi-key date coin that is graded or buy a coin because you think it's beautiful.

[Marvic]

@ MimiJ, when you say you have $800, is that face value or price guide value?
I would take the coins to a respectable (honest) coin dealer and maybe work out a trade for a gold coin or something else you might like... Just MO, good luck!

[Earle42]

Another possibility is to become a stacker. As money loses value over time, precious metals do not. Please do not see this as political, but in this case the information is relative. Silver prices typically go up when the left is in power. Businesses know they are not good stewards of the economy and so do not put as much money in the stock market, but the investors buy precious metals b/c they know metals are a safe haven against loss of value over time. When the right is in control, prices for metals go down b/c people make more money playing the stock market than in just storing precious metals.

The recent flip of power is being echoed in the PM market right now as silver and gold have both dropped from the highs they were at b/c of how the economy was being shred. There is a lot more to the ideas being presented here, but using this concept in the past has meant I have come out ahead. I am sure others with more homework into this concept have done better, but I won't complain!

Just another point to this. My grandfather, in the early 70s , put aside a one hundred dollar bill for his collection. When he passed away, I got the bill. it was not rare so there was no real premium. Because of inflation, the 100 bill would only buy 20.00 of value compared to what it did in 1970.

Had he bought silver instead in 1970, he would have had about 43.00 of face value silver coins. In today's value that would be about 971.00.

Someone with better knowledge than I could play the stock market over that same time and make more. But as you can see, silver is a good way to keep value.

I am not a stacker, but have encouraged all my kids, while in their youth, to buy an ounce of silver a month. Over time, no matter the cost as it fluctuates up and down, it all balances out in the end and makes a good way to preserve value for old age.

[Earle42]

Another possibility is to become a stacker. As money loses value over time, precious metals do not. Please do not see this as political, but in this case the information is relative. Silver prices typically go up when the left is in power. Businesses know they are not good stewards of the economy and so do not put as much money in the stock market, but the investors buy precious metals b/c they know metals are a safe haven against loss of value over time. When the right is in control, prices for metals go down b/c people make more money playing the stock market than in just storing precious metals.

The recent flip of power is being echoed in the PM market right now as silver and gold have both dropped from the highs they were at b/c of how the economy was being shred. There is a lot more to the ideas being presented here, but using this concept in the past has meant I have come out ahead. I am sure others with more homework into this concept have done better, but I won't complain!

Just another point to this. My grandfather, in the early 70s , put aside a one hundred dollar bill for his collection. When he passed away, I got the bill. it was not rare so there was no real premium. Because of inflation, the 100 bill would only buy 20.00 of value compared to what it did in 1970.

Had he bought silver instead in 1970, he would have had about 43.00 of face value silver coins. In today's value that would be about 971.00.

Someone with better knowledge than I could play the stock market over that same time and make more. But as you can see, silver is a good way to keep value.

I am not a stacker, but have encouraged all my kids, while in their youth, to buy an ounce of silver a month. Over time, no matter the cost as it fluctuates up and down, it all balances out in the end and makes a good way to preserve value for old age.

[MimiJ]

@ MimiJ, when you say you have $800, is that face value or price guide value?
I would take the coins to a respectable (honest) coin dealer and maybe work out a trade for a gold coin or something else you might like... Just MO, good luck!

It’s face value. TONS of pennies, quarters, dimes, nickels and a little cash I stashed a while back.

[Marvic]

@ MimiJ, when you say you have $800, is that face value or price guide value?
I would take the coins to a respectable (honest) coin dealer and maybe work out a trade for a gold coin or something else you might like... Just MO, good luck!

It’s face value. TONS of pennies, quarters, dimes, nickels and a little cash I stashed a while back.

Did you review them to ensure you don't give away something special (1909 S VDB, 1932 D Washington Quater, etc.), if you get what I mean?

[CoinGuy46]

While there are rarities and errors in modern coins (https://www.pcgs.com/top100/details), what are you calling worthless:
1970s and 1980s circulated change, probably
Corroded coins, probably
1950s or 1960s new rolls or UNC coins, no

If you arrange it by type, any rarities can be quickly ruled out. Review a price list and check for the key date/mints.

[MimiJ]

While there are rarities and errors in modern coins (https://www.pcgs.com/top100/details), what are you calling worthless:
1970s and 1980s circulated change, probably
Corroded coins, probably
1950s or 1960s new rolls or UNC coins, no

If you arrange it by type, any rarities can be quickly ruled out. Review a price list and check for the key date/mints.

Useless to me is circulated 1965 and higher in nickels, dimes and quarters. Pennies 1983 and above. Unless there are varieties or errors I should look for but that takes a lot of time.

[Marvic]

I agree. It's a lot of time-consuming coins, especially the years you mentioned.

[kurtspringmann]

While there are rarities and errors in modern coins (https://www.pcgs.com/top100/details), what are you calling worthless:
1970s and 1980s circulated change, probably
Corroded coins, probably
1950s or 1960s new rolls or UNC coins, no

If you arrange it by type, any rarities can be quickly ruled out. Review a price list and check for the key date/mints.

Useless to me is circulated 1965 and higher in nickels, dimes and quarters. Pennies 1983 and above. Unless there are varieties or errors I should look for but that takes a lot of time.

I would roll them, deposit them, and spend the money on something for me.

[CoinGuy46]

My credit union offers free counting and deposit with no rolling at one of the branches. Call a few banks and see.

[Westin]

I hear some banks in the US don't even accept rolls because people will short them. It's best to check before going through all the effort

[kurtspringmann]

I hear some banks in the US don't even accept rolls because people will short them. It's best to check before going through all the effort

I've heard that but CapitalOne (my bank) is not among them. They would roll them for free too, but I did it as I checked the coins and actually like a mindless task sometimes.

[Buried_In_Cents]

If it were me, I wouldn't even bother with the 1965+ nickels, dimes, or quarters. Roll them and take them to the bank.

For the cents, the only date I would be looking for at 1983 and above is the 1995 DDO. Even then, they're very common in Red BU so the value probably won't come close to the time investment spent looking for one.