lurtsman Posted May 10, 2012 Share Posted May 10, 2012 Are there any dollar coins that are worth more than a dollar? I was paid in dollar coins for something this morning--not kidding. I'm holding off on depositing those until I hear back from our resident coin experts. Link to comment Share on other sites More sharing options...
rdendy Posted May 10, 2012 Share Posted May 10, 2012 are they silver dollars? Link to comment Share on other sites More sharing options...
Vendelicious Posted May 10, 2012 Share Posted May 10, 2012 Here you go Lurtsman! Melt value of $1.00 face value coins: 1971-1978 Eisenhower Dollar $0.2034106 1979-1981, 1999 SBA Dollar $0.0726458 2000-2012 Sacagawea Dollar $0.0635825 2007-2012 Presidential Dollar $0.0635825 1878-1921 Morgan Dollar $22.5924 1921-1935 Peace Dollar $22.5924 1971-1976 Eisenhower Dollar (40% silver) *** $9.2372 Link to comment Share on other sites More sharing options...
mission vending Posted May 11, 2012 Share Posted May 11, 2012 Mr. Gresham has struck again! For those interested in the economics of money "disappearing" from circulation: http://en.wikipedia....Gresham%27s_law That was interesting, thanks for posting. Link to comment Share on other sites More sharing options...
Vendelicious Posted May 11, 2012 Share Posted May 11, 2012 I originally read about Gresham's Law from Murray Rothbard's book, What has government done to our money? It's a quick read, but it is very enlightening! Best of all, it's available for free: http://library.mises...Our%20Money.pdf Link to comment Share on other sites More sharing options...
chada75 Posted May 11, 2012 Share Posted May 11, 2012 I haven't paid attention to this thread until just recently. I figured it was too much of a bother to try to go through all my quarters to find the needle in a haystack. Even the suggestion of looking at the edges of a roll of quarters seemed too much work, because my coin tube is not clear plastic, so I can't easily look at the edges. But I was talking to my brother the other day, and he told me of his new hobby. He will go to the bank and buy hundreds of dollars of rolled Kennedy 50c coins. Then he will go through them all and pull out the pre-1965 and sell them for $9 each. The 1965-1970 coins and sell for $3.50 each. But I think its time for me to start looking. But looking at the links in this thread, I can see why I might sometimes have discrepancies when weighing my quarters. A silver quarter is 6.25 grams. A newer quarter is 5.64 grams. As side note, I looked at the base metal calculator to check out the value of pennies. It turns out that a 50c roll of pennies has a melt value of $1.22, which is almost 2.5 more than the face value of the coin itself. It might be worth it to just hold on to pennies and sell them for melt value, rather than roll them and deposit them. I have folks buying roll Copper Pennies from me for $37.00 a $25 box. Congrats on finding that many Silver Quarters, OP. Link to comment Share on other sites More sharing options...
rdendy Posted May 11, 2012 Share Posted May 11, 2012 I have folks buying roll Copper Pennies from me for $37.00 a $25 box. Congrats on finding that many Silver Quarters, OP. So why wouldn't you be cleaning out the banks everyday for rolled pennies? Link to comment Share on other sites More sharing options...
BarnettVending Posted May 11, 2012 Share Posted May 11, 2012 So why wouldn't you be cleaning out the banks everyday for rolled pennies? Rolled pennies contain both copper and "other" pennies. Basically, half-way through 1982 pennies switched from being 95% copper to much less valuable materials. In order to find only copper pennies, you must either go through them by hand to check the dates (since it is difficult to tell just by looking at pennies which are copper and which are not) or buy a sorting machine that will sort the coins based on metallic composition. Generally, it's not worth the hassle for the small amount of gain you get with pennies. I do, however, hold on to any pennies from 1982 and earlier that I get in my change and roll them when I get time. If you are interested in melt-value of coins, though, last time I checked all nickels were worth more in melt than face value, so keeping nickels might not be a bad idea. Note: As far as I understand, it is illegal to melt pennies and nickels to sell the metal. You will find people who will hold onto the coins for a "rainy day" based on their melt-values, but I wouldn't start smelting them if I were you. Not worth the money or the risk, if you ask me. Link to comment Share on other sites More sharing options...
Vendelicious Posted May 11, 2012 Share Posted May 11, 2012 With nickels, one does not need to sort through the rolls acquired at the bank. Almost every nickel contains 75% copper. With price inflation heating up due to massive money printing, nickels and pennies are a long-term play. Check this out:http://www.economicpolicyjournal.com/2011/11/man-who-bought-one-million-dollars.html Link to comment Share on other sites More sharing options...
Vendelicious Posted May 11, 2012 Share Posted May 11, 2012 What makes this long-term play interesting is that it is simultaneously a price inflation and price deflation hedge! Essentially, it's a win win situation. Link to comment Share on other sites More sharing options...
PerformaVending Posted May 11, 2012 Share Posted May 11, 2012 What makes this long-term play interesting is that it is simultaneously a price inflation and price deflation hedge! Essentially, it's a win win situation. Wow! I didn't know about that! Fascinating stuff Vendelicious! Thanks! Link to comment Share on other sites More sharing options...
mission vending Posted May 11, 2012 Share Posted May 11, 2012 So why wouldn't you be cleaning out the banks everyday for rolled pennies? Some people do.... http://abcnews.go.com/Business/laws-change-penny-hoarders-cash-thousands-dollars/story?id=15076522#.T62dScWzOSp Link to comment Share on other sites More sharing options...
chada75 Posted May 12, 2012 Share Posted May 12, 2012 My main Business has me sitting a lot waiting for trips and with practice, I got faster sorting the Pennies out. I still can't believe I'm selling pennies for a profit. Link to comment Share on other sites More sharing options...
easyvtec Posted May 15, 2012 Share Posted May 15, 2012 melting coins (federal property) is a felony... be careful guys! Link to comment Share on other sites More sharing options...
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