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What to do with a ton of uncirculated 64 half dollars?

I inherited a large number of silver Kennedy half-dollars...I'm not a collector. They are uncirculated at least, and I would say mint condition since I've done my homework enough to understand that luster cartwheel effect is one of the characteristics collectors like to see. As far as I know they've been in holders for the past 57 years.

I have noticed on E-bay people sell these with coin grades, and I was wondering how this is worth the cost of grading. Is bulk grading economically feasible for something this common? In any case I intend to hold on to them as a small hedge against inflation to go with my gold ETF.

Barring grading and having them all boxed, how should they be stored? I assume plastic coin holders aren't great, gravity and any movement can scratch right?

Comments

  • HigashiyamaHigashiyama Posts: 2,103 ✭✭✭✭✭

    If they are random uncirculated 1964 Kennedys, they would probably grade MS63, or occasionally MS64 or once in a while MS65. At these grades, they are not worth slabbing. If the collector who set them aside was very selective, they could grade higher.

    Can you post a few representative pictures?

    Higashiyama
  • MeltdownMeltdown Posts: 8,526 ✭✭✭✭✭

    There are some varieties and high grade piece do sell for a premium. Having said that... 98% of them are just silver bullion to most folks who accumulate. Not worth the grading fees by any means and the difference between a $15 dollar Kennedy and a $100 dollar example is miniscule and often a crapshoot if you're looking to have them graded.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @dedalus said:
    I have noticed on E-bay people sell these with coin grades, and I was wondering how this is worth the cost of grading.

    In most cases it's not, since you'd need to get 66s as a minimum to be worth the trouble. What typically happens is people sending the coins in think they'll grade higher than they actually do. When they don't, they end up with a $10 coin in a $20 holder.

  • cmerlo1cmerlo1 Posts: 7,853 ✭✭✭✭✭
    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • jmlanzafjmlanzaf Posts: 30,262 ✭✭✭✭✭

    @MasonG said:

    @dedalus said:
    I have noticed on E-bay people sell these with coin grades, and I was wondering how this is worth the cost of grading.

    In most cases it's not, since you'd need to get 66s as a minimum to be worth the trouble. What typically happens is people sending the coins in think they'll grade higher than they actually do. When they don't, they end up with a $10 coin in a $20 holder.

    Or they came from a bulk submitter who pays $5 per submission.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @jmlanzaf said:
    Or they came from a bulk submitter who pays $5 per submission.

    There's that, too. And then, you end up with a $10 coin in a $5 holder. Cheaper, but still... ;)

  • Thanks all, that's what I thought. Just curious why this was happening. I've got 160 of them!

  • astroratastrorat Posts: 9,221 ✭✭✭✭✭

    @dedalus said:
    Thanks all, that's what I thought. Just curious why this was happening. I've got 160 of them!

    Why what is happening? The spotting or discoloration? That is likely from being lightly circulated or contact with some sort of sulfur source or contaminant. It's very common.

    Looks like nice lightly circulated and uncirculated halves. If the ones you imaged are representative of the lot, then you have some nice "junk" (90%) silver coins, but not worth sending in for grading. They are bullion coins.

    "Junk" is not a derisive term for this coins, it's how US 90% silver coins are often characterized when there is no numismatic or collector value.

    These are also popular since they were issued for 1 year only (as 90% silver) and the affection people have for President Kennedy.

    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • HigashiyamaHigashiyama Posts: 2,103 ✭✭✭✭✭

    Looks like average attractive 1964 Kennedys. You have a nice hoard there! Personally, I would follow @Weiss’s suggestion and keep these in plastic tubes. 8 tubes would provide compact storage for these coins.

    Higashiyama
  • 291fifth291fifth Posts: 23,708 ✭✭✭✭✭

    With silver prices high your best move would be to calculate the actual silver value and then call around to local dealers to find their buy price for 90% silver halves. If the price is reasonable sell to the dealer who offers the most cash. 64 Kennedy's are ultra-common and not likely to ever bring much more than melt. Forget about "grading" and "varieties" as grading is expensive and varieties have a very limited market.

    All glory is fleeting.
  • yspsalesyspsales Posts: 2,025 ✭✭✭✭✭
    edited March 19, 2021 9:50AM

    The calculator at Coinflation is your friend.

    Nice pile of silver and enjoy the found money!

    BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out

  • astroratastrorat Posts: 9,221 ✭✭✭✭✭

    @291fifth said:
    With silver prices high your best move would be to calculate the actual silver value and then call around to local dealers to find their buy price for 90% silver halves. If the price is reasonable sell to the dealer who offers the most cash. 64 Kennedy's are ultra-common and not likely to ever bring much more than melt. Forget about "grading" and "varieties" as grading is expensive and varieties have a very limited market.

    And if you call around, be aware you will be likely be quoted a price of 'XX.X" times face. 90% silver are generally traded based on the face value of the silver coins and not the weight of silver in the coins. Since 90% dimes, quarters, and halves are proportional with the amount of silver, so much times the face value is a useful shorthand for the silver value.

    For example, a local coin shop may sell 90% Kennedy half dollars for 24x face and buy them for 20x face. This means they would sell you a similar half dollar for $12 and pay you $10 for the coin.

    Numismatist Ordinaire
    See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
  • Thanks all, it's nice to have in the safety deposit box,

    I tend to think silver is forming a higher base. If the momo traders decided to quit bitcoin for a while and pile into metals, at a 40 handle I'd probably sell :) With any hint of inflation, silver should hold in this area at any rate.

    Too bad I didn't have these in 2011!

  • yspsalesyspsales Posts: 2,025 ✭✭✭✭✭

    A nice start to begin silver stacking.

    Secondly, you could flip it and nearly buy an ounce of gold.

    BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out

  • relicsncoinsrelicsncoins Posts: 7,751 ✭✭✭✭✭

    Hang on to them, we can't keep printing money without inflation eventually putting upward pressure on the metals market.

    Need a Barber Half with ANACS photo certificate. If you have one for sale please PM me. Current Ebay auctions
  • Cougar1978Cougar1978 Posts: 7,180 ✭✭✭✭✭
    edited March 19, 2021 12:33PM

    I would put them in Whitman coin tubes by roll of 20. I would not spend money and time getting them TPG graded. I would sell them by the roll raw.

    However, Nicer ones cherrypicked especially lots of blast I might try sell raw for show / online store in 2x2 - describe Gem BU sell target $25 (CW trends MS65). If they try talk you down might say “$20 is lowest consignor will go.” That’s just the cost of a lap dance lol. If they won’t even pay that then let them find one somewhere else. Set your sights high, find the sweet spot in the defense, and make money.

    I would put them in online store to sell or auction. I would see what a coin shop would offer me which would save me selling time and expense. Blow them all out at once if right offer.

    Take a look what eBay sellers asking for these or getting at auction. You can use theirs as a model (sell similar) start your listing. Then Input your photos.

    Coins & Currency both US and World
  • cladkingcladking Posts: 28,114 ✭✭✭✭✭

    You can get a pretty good premium for just nice BU's now days.

    The picture suggests there might be some very high grade coins in there. I would suggest soaking a few of the ones with the fewest scratches in 91% isopropyl alcohol for a few days and then rinsing and very gently patting them dry. Then we'd need better pictures but my gut tells me these are pretty nice specimens.

    Bulk grading is usually not worth the cost except on a few of the most recent issues. But you can pre-screen your coins to find which ones are worth the trouble of cleaning and submitting.

    Cleaning is usually a bad idea but if you follow the proper procedure for the right coins it can usually be done successfully. Either find a thread, ask questions, or experiment on low value coins before doing anything to a potentially valuable coin.

    Tempus fugit.
  • keetskeets Posts: 25,351 ✭✭✭✭✭

    if what you have pictured are the best from the group, or even just average from the group, you should sell as suggested above.

  • SanctionIISanctionII Posts: 11,344 ✭✭✭✭✭
    edited March 19, 2021 2:41PM

    When I read the title of this thread it caused me to do some calculations to see how many 1964 half dollars you would need to have an actual "ton" of them.

    Each such half dollar weighs 12.50 grams. There are 453.592 grams in a pound.

    A US ton weighs 2,000 pounds (a UK ton weighs 2,240 pounds but we are talking a 1964 US half dollar so we will go with a US ton of 2,000 pounds).

    453.592 grams per pound times 2,000 pounds equals 907,184 grams.

    Dividing 907,184 grams by 12.50 (12.50 grams being the weight of each 1964 half dollar) results in 72,574.72 (which when rounded up is 72,575).

    Thus a US ton of 1964 half dollars would consist of 72,575 coins.

    This is 72,415 coins more than the 160 coins owned and possessed by the OP.

    The 160 half dollars owned by the OP would weigh 4.4092488 pounds, which is slightly less than a US ton. :)

    Fun thread. Wish I had 160 1964 half dollars. That is a chunk of silver and worth some Benjamins based upon silver content alone.

  • matt_dacmatt_dac Posts: 954 ✭✭✭✭✭

    I echo the advice to sell to the highest paying dealer in your area. Note you will not likely find anyone interested in buying them at actual spot price, but discounted from spot price. Good luck with the process.

  • jrt103jrt103 Posts: 419 ✭✭✭

    @dedalus said:

    In any case I intend to hold on to them as a small hedge against inflation to go with my gold ETF.

    Barring grading and having them all boxed, how should they be stored? I assume plastic coin holders aren't great, gravity and any movement can scratch right?

    I think all the people telling him to sell them to local dealer or such didn't read the full post lol

  • ChangeInHistoryChangeInHistory Posts: 2,970 ✭✭✭✭✭

    Hold.

  • MasonGMasonG Posts: 6,268 ✭✭✭✭✭

    @jrt103 said:
    I think all the people telling him to sell them to local dealer or such didn't read the full post lol

    Not reading all the posts before responding is not unusual here. ;)

  • GRANDAMGRANDAM Posts: 8,275 ✭✭✭✭✭
    edited March 19, 2021 7:23PM

    If you are keeping them I would sort them into 3 groups and then label and put in tubes.

    One group would be for the worst coins such as the first two that you posted. One group for the very best coins and the other group for the remainder.

    That way if you need to sell some quickly you grab the worst coins first and the keep the very best until time for them to go.

    GrandAm :)
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    @dedalus.... Welcome aboard..... I am a bit curious (as usual) about the background of this accumulation... Were they saved from change? Or were they removed from mint sets? Cheers, RickO

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