Does Your Coin Collection Contain Any of These Valuable Coins or Notes?
Collectors considering a coin sale, particularly coins received through an inheritance or through an estate, are often unfamiliar with the coins and notes included in a collection. Online information can feel overwhelming, and without substantial time and interest for research, it can be unclear where to start. This article identifies common coins and notes Atlanta Gold & Coin Buyers said it encountered routinely. Its purpose was to distinguish items that might hold value from those that generally do not.
Begin by grouping coins by type or denomination—for example, pennies, nickels, and dimes. Also separate gold, silver, platinum, foreign coins, and paper currency. The sections below organize coins and paper notes by type or denomination and identify pieces that are usually valuable or commonly of interest to coin dealers.
Pennies
Almost every collection Atlanta Gold & Coin Buyers evaluated or discussed included cents or pennies. Their values ranged from a few cents to tens, and sometimes hundreds, of dollars. Large Cents from 1857 and earlier, Flying Eagle cents made from 1856 to 1858, and Indian Head pennies from 1909 and earlier all have some value. Uncirculated rolls of Lincoln wheat pennies from 1958 and earlier, along with key dates such as 1909-s, 1909-s vdb, 1911-s, 1914-d, 1922, 1931-s, and 1955 double die, can carry meaningful value. Most common-date wheat pennies and copper cents from 1959 through publication were not valuable.
Nickels
A common misunderstanding is that every U.S. nickel dated 1964 or earlier has silver value. That is not so. Only silver war nickels produced from 1942 through 1945 contain silver. Their 35% silver content gives them somewhat limited value. Most other Jefferson nickels are essentially face-value pieces. Buffalo nickels from 1938 and earlier, V nickels from 1912 and earlier, and Shield nickels made in 1883 and earlier have value and interest most coin dealers.
Dimes and Quarters
U.S. dimes and quarters dated 1964 or earlier contain 90% silver and are among the coin industry’s most frequently traded pieces. They are sometimes called “junk silver,” because their worth mainly comes from the coins’ silver content. Every Seated Liberty dime and quarter struck from 1837 to 1891 is a premium coin worth more than its silver value. There are also key-date Barber coins, Mercury dimes, and Standing Liberty quarters. Most Roosevelt dimes and Washington quarters, however, are common dates valued mainly for silver.
Half Dollars
Like dimes and quarters, half dollars from 1964 and earlier contain 90% silver. Unlike those denominations, half dollars struck from 1965 through 1970 also contain silver, though at the lower purity of 40% silver. 90% silver half dollars are commonly known as “junk silver.” Unless uncirculated, most Franklin and Kennedy halves trade for their silver content, as do average-condition common-date Walking Liberty halves. Higher-grade and better-date coins command premiums. The same general point applies to Barber Head half dollars from 1892 to 1916. Seated Liberty halves made from 1837 through 1891 are premium valuable coins unless seriously worn or damaged.
Silver Dollars
U.S. silver dollars dated 1935 and earlier are 90% silver and generally carry value beyond their underlying silver unless substantially worn or damaged. Peace dollars from 1922 to 1935 usually have less value than Morgan dollars struck from 1878 to 1921, though each series includes valuable key dates and low mintages. Trade dollars from 1873 to 1885 and Seated Liberty dollars from 1840 to 1873 are premium coins. Earlier silver dollars, including Flowing Hair and Draped Bust types, sell for hundreds of dollars or more. Most modern U.S. silver dollars—Eisenhower, Susan B. Anthony, Sacagawea, and Presidential dollars—have little, if any, value beyond face value, with exceptions.
Silver Coins and Bullion
Most nations reduced silver content in their coinage in 1964 or earlier. Even so, government mints produce one-ounce silver coins for collectors and investors. Popular examples include American Silver Eagles, Canadian Silver Maple Leafs, Austrian Silver Philharmonics, British Silver Britannias, Mexican Silver Libertads, Chinese Silver Pandas, and Australian Silver Kangaroos and Kookaburras. Private mints also make pure-silver rounds and bars, called silver bullion. Governments issue coins, while private entities issue bullion. Coin dealers have interest in all coins and bullion containing silver.
Gold Coins and Bullion
Many people may not realize that U.S.-issued gold coins circulated in ordinary commerce before 1933. Common denominations include $1, $2.50, $3, $5, $10, and $20 coins. Some have collector or numismatic appeal; others trade chiefly for gold content. At the time of writing, gold was around $1,500, so any gold coin had some value.
Gold coins have been absent from circulation for a long time, but government mints have produced modern gold bullion coins for years. Popular examples include American Gold Eagles and Buffaloes, Canadian Gold Maple Leafs, South African Gold Krugerrands, and Austrian Gold Philharmonics. Private mints have likewise made gold bars and rounds for many years. Notable bullion producers include Pamp Suisse, Credit Suisse, Perth Mint, Royal Canadian Mint, Heraeus, and Sunshine Mint. Coin dealers are interested in gold coins and bullion of all kinds.
Foreign Coins
In general, modern foreign coins not made of precious metals are not valuable. Since the Euro’s introduction in 2002, many foreign coins also became obsolete and no longer held face value. At the time of writing, the article said modern foreign coins traded wholesale for only a few dollars per pound. In the United States, coins produced in the 19th century often have collectible or numismatic value, but that guideline does not necessarily apply abroad. Many countries have issued coins and currency for centuries, leaving older issues relatively common. Though not a firm rule, foreign coins from the mid-19th century or earlier tend to have some value.
Paper Currency
Many coin collections also include paper currency or notes. U.S. bills with value are generally those issued in 1928 and earlier. Later notes are usually common unless they are R & S Experimental silver certificates, small-size National Bank Notes, $500 and $1,000 Federal Reserve notes, or World War II emergency issues made for Hawaii and North Africa. Regardless of date, large-size U.S. notes and gold certificates have value unless substantially damaged.
Other obsolete currency, including Confederate, state-issued, bank-issued, and railroad-issued bills, also has value. These bills commonly carry handwritten signatures. Therefore, a bill appearing to have an original signature rather than a photocopied one is likely authentic. Exceptions do exist, and most modern foreign paper currency generally has little value.
Summary
These were among the coins, bullion, and currency Atlanta Gold & Coin Buyers said it encountered routinely when this article was published. Readers were invited then to visit the blog for information on topics affecting valuable coins and the bullion industry.
At publication, Atlanta Gold & Coin Buyers described itself as a leading Atlanta coin dealer that regularly spoke with customers and prospective customers by phone and made sure their questions were answered. Readers needing further assistance were invited to Contact us at 678-922-4909.
