When this article was originally published, Atlanta Gold & Coin was described as a leading Atlanta coin dealer and as the recipient of the 2015 Atlanta Coin Dealer of the Year award by Kudzu. The business spent considerable time each day speaking by phone with established and prospective customers. Buyers generally already knew the particular coins and quantities they wanted to acquire. Sellers, particularly people handling inherited coins or an estate, were often much less familiar with the coins and notes included in their coin collection. Online information could feel overwhelming, and someone without substantial time and interest for research might not have known how to start evaluating a collection. This article was intended to identify the coins and notes most commonly encountered in routine dealings, distinguish items that could have value from those that generally did not, and give owners a practical starting point.
Before using the information below on the common coins and bills discussed here, the original article recommended organizing a collection by denomination or type—for example, pennies, nickels, and dimes. It also suggested separating gold, silver, platinum, foreign coins, and paper currency from one another. The following sections were arranged by denomination or category and described the coins and paper notes that, at the time this article was originally published, were usually considered valuable or of interest to coin dealers.
Valuable Coins
- Pennies – Nearly every collection Atlanta Gold & Coin evaluated or discussed with customers included pennies, also called cents. Depending on the issue, these could range from a few cents in value to tens or even hundreds of dollars. Large Cents dated 1857 and earlier, Flying Eagle cents made from 1856 – 1858, and Indian Head pennies dated 1909 or earlier were all described as having some value. Uncirculated rolls of Lincoln wheat pennies from 1958 and earlier could also matter, as could key-date wheat cents such as 1909-s, 1909-s vdb, 1911-s, 1914-d, 1922 and 1931-s. By contrast, the original article said most common-date wheat pennies and copper cents produced from 1959 through the publication period had little value.
- Nickels– The article addressed a frequent misunderstanding: not every U.S. nickel dated 1964 or earlier had silver value. It explained that silver content was limited to wartime silver nickels struck from 1942 – 1945. Those pieces contained only 35% silver, so their value was somewhat limited. Most other Jefferson nickels were described as essentially face-value coins. Buffalo nickels dated 1938 and earlier, V nickels dated 1912 and earlier, and Shield nickels made 1883 and earlier were identified as coins with value and as items of interest to most dealers.
- Dimes & Quarters– U.S. dimes and quarters dated 1964 & earlier contain 90% silver and, when this article was published, ranked among the coins most commonly traded in the industry. They were sometimes called “junk silver,” because their worth primarily came from the silver they contained. Every Seated Liberty dime and quarter struck from 1837 – 1891 was characterized as a premium coin worth more than its silver content alone. The article also noted key-date Barber issues, Mercury dimes, and Standing Liberty quarters. Most Roosevelt dimes and Washington quarters, however, were common-date pieces that traded only for their silver content.
- Half Dollars– Like dimes and quarters, half dollars dated 1964 & earlier contain 90% silver. The article also explained an important difference: half dollars struck from 1965 – 1970 likewise contain silver, although at the lower purity of 40% silver. 90% silver half dollars were commonly known as “junk silver.” At publication, most Franklin and Kennedy halves traded for silver value unless uncirculated. Average-condition, common-date Walking Liberty halves were similarly traded for their silver, while higher-grade and better-date examples brought a premium. The same distinction applied to Barber Head halves from 1892 – 1916. Seated Liberty half dollars from 1837 – 1891 were considered premium coins unless heavily worn or damaged.
- Silver Dollars– U.S. silver dollars dated 1935 and earlier are 90% silver and, unless substantially worn or damaged, were described as having value beyond their underlying silver. Peace dollars made from 1922 – 1935 generally had less value than Morgan dollars struck from 1878 – 1921, though both series included low-mintage or key-date coins that could be quite valuable. Trade dollars dated 1873 – 1885 and Seated Liberty dollars dated 1840 – 1873 were premium coins. Earlier silver dollars, including Flowing Hair and Draped Bust issues, sold for hundreds of dollars or more. The article cautioned that most modern U.S. issues—Eisenhower, Susan B. Anthony, Sacagawea, and Presidential dollars—had little, if any, value above face value, although exceptions existed.
- Silver Coins & Bullion– Although most countries had reduced silver in their coinage by 1964 or earlier, many government mints continued producing one-ounce silver coins for collectors and investors. The article listed 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 among the better-known choices. Private mints also made pure-silver rounds and bars, generally called silver bullion. The distinction given was that coins were sovereign or government issues, whereas bullion was privately issued. At publication, coin dealers were interested in coins and bullion made with silver content.
- Gold Coins & Bullion– The article noted that, before 1933, U.S.-issued gold coins circulated in ordinary commerce, a point many people may not realize. Common denominations included $1, $2.50, $3, $5, $10 and $20 coins. Some carried collector, or numismatic, value; others traded chiefly for their gold content. At the time of publication, with gold reported as hovering around $1,125, the article stated that any gold coin a reader possessed had some value. Gold coins had not circulated for a long time, but government mints had for years produced modern bullion gold issues. Examples included American Gold Eagles and Buffaloes, Canadian Gold Maple Leafs, South African Gold Krugerrands, and Austrian Gold Philharmonics. Private mints had also produced gold bars and rounds for many years. The article named Pamp Suisse, Credit Suisse, Perth Mint, OPM, Royal Canadian Mint, and Sunshine Mint as popular gold-bullion producers. At publication, all gold coins and bullion were items of interest to coin dealers.
- Foreign Coins– In general, modern foreign coins without precious-metal content were described as having little value. Since the Euro’s introduction in 2002, many foreign coins had become obsolete and therefore were not worth even their stated face value. At the time this article was originally published, many modern foreign coins reportedly traded wholesale for just a few dollars per pound. In the United States, coins produced during the 19th century often have collector or numismatic value, but that pattern did not necessarily apply abroad. Many other countries had issued coins and currency for centuries, leaving older examples relatively common. Though not an absolute rule, the article said foreign coins made in the mid-19th century or earlier tended to have some value.
- Paper Currency– Paper currency and notes appeared in many coin collections. The article said U.S. bills with value were usually those issued in 1928 and earlier. Later bills were generally common unless they were 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.-issued notes were described as valuable unless substantially damaged or defaced. Obsolete currency, including Confederate, state-issued, bank-issued, and railroad-issued bills, was also described as holding value. In many instances these bills were signed individually by hand, so an original-looking signature rather than a photocopied one was presented as a sign the bill was likely authentic. Exceptions existed, and most modern foreign paper currency was said to have little value.
In summary, this article covered the coins, bullion, and currency Atlanta Gold & Coin routinely encountered when it was originally published. Its purpose was to offer guidance about types of coins and currency likely to contain value, and it expressed hope that goal had been met. At publication, the business stated that it regularly wrote about issues affecting the coin and bullion industry and invited readers to visit our blog to follow relevant topics. The original article also invited readers to contact Atlanta Gold & Coin at sales@atlantagoldandcoin.com or 404-236-9744 for further assistance.
