INTERESTING FACTS ABOUT OLD COINSFrom August 2009
Many years ago as a bank teller, I became interested in coins (numismatics) and my interest has continued to the present. Coins have a long history, dating back to the ancients, when gold and silver were used in coinage, as well as in decorative art and implements.
Today, old coins, particularly gold and silver, are becoming great investments and tend to appreciate in value. As one who has appraised many collections, I would alert residents who have coins not to just cash them in to a bank, but look at the dates, as there may be more value in the metal.
Here are a few hints to help you evaluate: any half, quarter or dime dated before 1965 is comprised of 90% silver and is worth nine (9) times its face value on today’s market. Kennedy halves dated 1965-1969 have 40% silver in them and are worth at least $1.00 each. Nickels dated 1942-1945 with the mintmark over the Memorial on the reverse have 35% silver in them and are worth at least three (3) times face value.
So, a word to the wise . . . take a quick look at your change on the old coins you may have lying around before you take them to the bank. You may have more value than you think!
For anyone who enjoys trivia, here are a few facts about GOLD:
Gold is malleable; an ounce of gold can be hammered to a thin sheet of at least 100 square feet. An ounce of gold can be stretched into a thin wire more than five miles long. The electrical conductivity is 71 times that of copper. Twenty-four karat gold is pure and can be obtained only through processing and refining.
And here’s an update:
My interest in old coins and currency continues. I still appraise collections for individuals, attorneys and estates and maintain two locations in local antique malls. Ebay and Webstore are venues I use for both buying and selling.
In 2015 a major change was enacted in Virginia tax law that exempts transactions of at least $1,000 in precious metals from the imposition of state tax. Thus, I assist folks who wish to invest in these metals under a contractual arrangement.
Today, even though bullion markets have declined, old coins, particularly gold and silver, are becoming great investments and tend to appreciate in value either as collectibles or through the changing value of the metals.
So I still suggest that residents who have coins to not just cash them in to a bank, but look at the dates, as there may be more value in the change than you think!
Happy Collecting! Don Myers (2018)