primitives check their coinage

[franksolich]

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7019829

Oh my.

Lucky Luciano  (1000+ posts)      Sun Nov-15-09 12:28 PM
Original message

My economic indicator - check your change! There is a reason you do not see many 2009 coins.

I'll start with some background. When I was a kid, I used to collect coins hoping to pick a supervaluable winner from my change. I never did find anything worth more than a couple bucks (An 1873 Indian Head Penny was my best find) and usually the only things I found were wheat back pennies and some nickels from WWII that were made with silver etc.

This habit I had as a kid continued into my adult years even though I don't really expect to find anything of interest. I always cehck my change after the new year to see if I can find change created in the new year. In 2009, it took 7 months for me to find a 2009 quarter and I have not seen any 2009 dimes or nickels and only 3 or 4 pennies.

USually by now the new year's change is quite ubiquitous - it is still very rare.

I grew curious as to why I did not find any 2009 change. I searched the internet and found out that the reason the mint has not released very much new coinage is because the banks have not been requesting any. The reason for that is that people with big jars of change have been bringing their jars into convert to cash as people are so desperate for money. With change not sitting in people's jars, the coins are sent back into circulation so new 2009 coinage has not been necessary.

It is probably a lagging indicator and less useful, but it will help confirm that things are better for me if new coins are minted and I see them in circulation like I did before the recession.

We've had 2009 one-cent pieces--the commemorative ones--circulating around the Sandhills of Nebraska for months.

Of course, the Sandhills of Nebraska tend to be more up-to-date than the blue cities and blue states and Skins's island.

tekisui  (1000+ posts)        Sun Nov-15-09 12:29 PM
Response to Original message
 
1. I have a big jug almost full of coins. 

I estimate nearly $200 in it now. Once it's full, I will cash out when I need it.

Maybe the terriyaki primitive could use it to finance his half of a fine restaurant meal with USA4ME from here?

Robb  (1000+ posts)        Sun Nov-15-09 12:31 PM
Response to Original message
 
2. That's really very interesting.

I've been seeing people standing in line at the Coinstar change-counting dealies at the supermarket in the past few months, never saw that before. Purely anecdotal, of course.

Side note: I went to school, apparently (didn't know him, a few years apart) with the guy who started Coinstar. My mom used to make a point of telling me about how he was driving around in a blue Ferrari.

C_Lawyer09 (206 posts)      Sun Nov-15-09 12:35 PM
Response to Reply #2
 
5. I hope they find a credit union 

With a change counter where they arent charged 8-10 cents on the dollar

Odin's left hand:

Odin2005  (1000+ posts)        Sun Nov-15-09 12:34 PM
Response to Original message
 
3. That's very interesting, thanks!

C_Lawyer09 (206 posts)      Sun Nov-15-09 12:34 PM
Response to Original message
 
4. Very very interesting

They are not minting a silver eagle proof this year, first break in the set since it started in '86. I did find a 1927 Buffalo in circ the other day, but I let the waitress keep it after I explained what it was.

I'll bet the 1927 Indian Head five-cent piece was in considerably worn condition; one doubts the primitive would've let the waitress keep it if it had been in "fine" condition or better, and hence worth something.

madrchsod  (1000+ posts)        Sun Nov-15-09 12:38 PM
Response to Original message
 
6. silver coins are going for around 14 an ounce......

Oh wow.

franksolich now knows the metallic value of his complete collection of Liberty Walking half dollars (1916-1947), none of them in less than "very fine" condition.

Not that franksolich ever collected them for "investment" purposes, but rather because they're the most aesthetic of American 20th-century coinage.

[GOBUCKS]

I've been seeing people standing in line at the Coinstar change-counting dealies at the supermarket in the past few months, never saw that before. Purely anecdotal, of course.

Now that's a puzzler. Every other DUmmy who has been to the supermarket, or mall, or restaurant has reported those places to be deserted, as Americans stay home and starve. Now this DUmmy has found lines of people, for months, all of whom have large amounts of hard currency. The jug-eared muslim has truly brought morning to America!

[crockspot]

My credit union in Cali had one of those change countin' contraptions. They charged ten percent.

I've been a coin collector since childhood. I sold off most of my gold off last year, unfortunately, but i still have a couple of ounces left. Ill hold out until it tops out at above 2k.

I have found a silver quarter and a silver dime in pocket change in the last year, so it hasn't all been picked over.

Silver is actually selling at above 17 an ounce. This is a good website to check current metals prices. http://www.kitco.com/market/

[jinxmchue]

I searched the internet and found out that the reason the mint has not released very much new coinage is because the banks have not been requesting any. The reason for that is that people with big jars of change have been bringing their jars into convert to cash as people are so desperate for money. With change not sitting in people's jars, the coins are sent back into circulation so new 2009 coinage has not been necessary.

Oh, you searched the internet.  Okay.  So where's the link, DUmmy?  Sorry, but I smell a fat load of bullshit.

[thundley4]

C_Lawyer09 (206 posts)      Sun Nov-15-09 12:34 PM
Response to Original message
 
4. Very very interesting

They are not minting a silver eagle proof this year, first break in the set since it started in '86. I did find a 1927 Buffalo in circ the other day, but I let the waitress keep it after I explained what it was.

The reason the US Mint is not producing Silver Proof Eagles is because by law they have to produce bullion eagles when the demand is high.  Some people buy gold, and some people buy silver in this 0Bama economy.

Update: Due to the continued, sustained demand for American Eagle Silver Bullion Coins, 2009-dated American Eagle Silver Proof Coins will not be produced.

[Carl]

There are very few circulated coins worth much more then their face value but still can be fun for folks.

[thundley4]

There are very few circulated coins worth much more then their face value but still can be fun for folks.

Silver coins can still be found, but I suspect many of them have been stolen from the rightful owners and spent as regular coins by the idiot thieves.

[Carl]

Silver coins can still be found, but I suspect many of them have been stolen from the rightful owners and spent as regular coins by the idiot thieves.

Yes,I run acrossed them from time to time...they ring like a bell when tossed into a coin drawer.
Even still their value above the face is always limited.

[diesel driver]

I have the entire 2009 collection of the US Territory quarters, and just the other day, I found a 1841 penny.

I live on a dirt road, and the driveway to my house is slightly uphill.  After a rainstorm, I walk the drive to see what I can find.  Usually it's pieces of broken pottery, a few arrowheads, some old-fashioned nails that were made by a blacksmith.

But the other day, I found what looked like an old pop bottle cap, but when I cleaned it up, it was a 1841 1-cent piece, about the size of a quarter.

A collector magazine says it's worth about $25....

[franksolich]

Yes, I run across them from time to time...they ring like a bell when tossed into a coin drawer.

I suppose it comes from being a life-long coin collector (and besides, I wouldn't be able to hear a coin "ring" anyway), but I can spot a silver coin from six feet away.

If I see one in a cash register, I'm rude enough to ask the clerk to exchange it for me.

Copper-nickel coins tend to look grey, while silver coins tend to look whiter.  I can even spot the 1942-1945 silver five-cent pieces with even less trouble.

This quick discernment is probably because of a long-time and prolific acquaintance with them.

It's been years and years and years since I last worked in a wholesale hardware center, but even today, from halfway across the room, I can tell the difference between a 1/4" bolt and a 3/8" bolt.

I think that's what it is; if one's seen enough of things, one spots them more easily, than if one's seen those same things only rarely.

[jinxmchue]

I have the entire 2009 collection of the US Territory quarters, and just the other day, I found a 1841 penny.

I live on a dirt road, and the driveway to my house is slightly uphill.  After a rainstorm, I walk the drive to see what I can find.  Usually it's pieces of broken pottery, a few arrowheads, some old-fashioned nails that were made by a blacksmith.

But the other day, I found what looked like an old pop bottle cap, but when I cleaned it up, it was a 1841 1-cent piece, about the size of a quarter.

A collector magazine says it's worth about $25....

You should invest in a metal detector.  Might help you find more.

[LC EFA]

You should invest in a metal detector.  Might help you find more.

I have a mid-range Minelabs metal detector - It's great for finding nails, ring-pulls , old cans , metal match boxes and the occasional pieces of something more interesting like buttons, pre-decimal currency and the extremely infrequent pieces of lost jewelery and gold nuggets.

[jukin]

PENNIES DUmbasses!! Save the new pennies because they are made of ZINC not copper. Zinc starts with the letter Z.  Z is at the end of the alphabet where letter get very, very expensive and is therefore more valuable.

[BlueStateSaint]

PENNIES DUmbasses!! Save the new pennies because they are made of ZINC not copper. Zinc starts with the letter Z.  Z is at the end of the alphabet where letter get very, very expensive and is therefore more valuable.

A "Z" is worth 10 points in Scrabble, IIRC . . .

[jukin]

A "Z" is worth 10 points in Scrabble, IIRC . . .

Well that does it!  Don't be too surprised if there is a run on pennies tomorrow byt the DUchebags. 

[NHSparky]

Copper is worth more than zinc, DUmmies--that's why you gather up all the pre-1982 pennies you can lay your hands on.  They're worth about 2.5 cents each.

Of course, if ya melt them down, you'll end up in federal prison...but who's gonna know, right DUmmies?  G'wan--go ahead!

[GOBUCKS]

DUmmies collecting coins remind me of when Beavis and Butthead decided to get rich by counterfeiting coins. So they paid 10 cents each to make xerox copies of a nickel.