Did Great Grandpa Anthony, Great Aunt Alma or someone in your family tree collect pocket change through the years? Are you wondering if there may be value?
There could be…
Do you have any silver coins? How do you tell?
There are several ways. A silver coin has a different color and weight than modern coins. (Interestingly, if you inadvertently try to use a silver quarter in a vending machine, the machine will not accept it. The weight and thickness are different.)
But, you can tell if any of the older coins are silver by looking at the year of the coin. Dimes, quarters and halves dated 1964 and earlier are mostly silver – 90% silver. (None are 100% silver.) In years 1965 – 1969, Kennedy halves contain 40% silver. You can frequently hear these coins called “clad.”
After 1969, coins for general distribution and usage do not contain silver. Of course, the US Mint continues to provide silver coins in special collectors’ sets, for example, the Silver Proof Set. And, if someone was not aware of the extra value of these silver coins, they could have broken them out of their special packaging and spent them as pocket change. This would be rare as someone would recognize their value and quickly pull them out of circulation again.
Now, you’ve gone through Great Uncle Albert’s pocket change and found several silver coins. What are they worth?
It depends.
If the coins are significantly worn, badly scratched or contain holes – maybe for jewelry, their value generally lies in their silver content. But, there are some coins – type, year and mint location – that are rare and potentially valuable even in a questionable condition. For this, you need to consult an expert.
On the other hand, if your coins are in good condition, a coin expert needs to see the coins to determine their grade and value in conjunction with the year and location the coin was minted. “Seeing” the coins is a must, and frequently, using a loupe is necessary to discern the quality. Calling a dealer on the phone and asking what your coins are worth just won’t work. They may give you an answer, but sight unseen, no guess on the value would be honored if you wanted to sell them the coins.
For a few coins, a coin show is an excellent place to obtain expert opinions on your coins’ worth. However, if you are fortunate to have found many coins, a coin show can be too busy to bring them all at once. One suggestion: you could bring a few of your coins to the coin show, interview several dealers for their opinions and set up a time to meet and discuss the other coins you have with the dealer with whom you feel most comfortable.
But, there are old pennies and nickels and dollar coins too…what about their value?
That’s for another day….