100 Coin State Quarter Bags
Justin
Posts: 183
I am new to coin collecting and have been collecting the 100 coin State Quarter Bags. Do you know if these bags remain sealed whether the coins inside will color tone? Does color toning decrease the value? Also how can color toning be prevented.
Thanks!
Thanks!
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Thank you for your quick reply. The sealed bags (I think they are canvass) I am keeping in their original USPS Priority Boxes which I opened to check that the order was correct. Then I am taking the USPS boxes and storing them in sandwich bags and ultimately are storing all the bags in a large Rubbermaid container. Do you think my procedure will keep out moisture? I am not sure if this way would cause more moisture.
Also are color toned coins worth less?
The reason I mention it is that if you're carefully preserving them in the hopes that one day you'll pop them open and find a bunch of gems, you will likely be disappointed. Unless those bags tone the coins some desirable signature colors in 30 years, then forget I said anything!
You are also going to have one whopping big pile of quarter bags by the time the series is over.
These are readily available from QVC and other internet distributors. Cheaper than local retailers...
And yes I would be concerned about getting a bag a washers instead of coins. I've heard that has happened already.
That's my opinion of them: overpriced and potential for big losses when the novelty wears off.
as a matter of fact, since slabbing came along, another enemy has been eliminated------damage done handling coins!!! someone once told me that the likelihood of dropping a coin increases in proportion to a coins value, something i find to be strangely true. thanks plastic slab!!
al h.
No, um... aw, crap. We are! But I was nicer.
Still, everyone should make up their own mind as to what to collect.
After all, in my wisdom I bought a couple of those Delaware bags when they first came out, ripped them open, gave away the coins as freebies... and watched the value of unopened bags soar to many hundreds of dollars.
And don't get me started on the Delaware first-day covers that I sold at a loss.
Just another reason not to turn to a coin dealer for investment advice.
advice understood and heeded.
al h.
Hey, I just told you NOT to listen to me!
To me these mini bags are perfectly silly. You can't see the coins without opening them, and opening them makes the bags worth no more than the face value of the contents. Furthermore there is little chance that these bags will yield any Gem quality coins since the coins have come in contact with each other again and again. Perhaps you might get some interesting toning from the bag as happened with the Morgan Dollars, but that will take years and would be a matter of luck.
I collect coins, not bags. I love early coins, but I would not buy one of the kegs in which they were shipped. If you can't see the coins why bother with them? If they really don't have anything to do with the distribution of the coins, except for the fact they were something the mint sold to collectors or speculators, what kind of historic relic are they? Yes, you are free to collect anything that's legal to own, but shouldn't new collectors know what many veteran collectors think of these things? That might make them think twice about paying $900 for a bag and $25 in pocket change.
To me these mini bags are perfectly silly. You can't see the coins without opening them, and opening them makes the bags worth no more than the face value of the contents.
Ah, but that's the beauty of it! When you go to sell, there are no arguments about grade, eye appeal, etc. If the bag is sealed, it's sold! And that's only half a joke.
Still, my personal opinion is they are the Beanie Babies of the coin industry -- they even have tags like Beanie Babies! And, I'm afraid, will eventually perform similarly. I just can't see interest being sustained about the time bags #75 and #76 roll around, for all but the most dedicated bag collectors.
But, see previous comment about my skill in predicting future prices.
<< <i>Still, my personal opinion is they are the Beanie Babies of the coin industry -- they even have tags like Beanie Babies! >>
That is the funniest thing I have read on these forums yet!!!!
ROTFLMAO!!!!
Still, my personal opinion is they are the Beanie Babies of the coin industry -- they even have tags like Beanie Babies! And, I'm afraid, will eventually perform similarly. I just can't see interest being sustained about the time bags #75 and #76 roll around, for all but the most dedicated bag collectors.
But, see previous comment about my skill in predicting future prices.
"Beanie Babies of the coin industry" I LOVE IT! Perfect name for clad no history pocket change junk.
i'm not saying it's going to happen, but the thought occurred to me that if your last post is considered with some historic perspective and morgan dollars, it becomes very interesting. i imagine a gentleman of wealth in the late 1890's scoffing at another so situated during after dinner cigars:
"I collect coins, not bags. I love early coins, but I would not buy one of the kegs in which they were shipped. If you can't see the coins why bother with them? If they really don't have anything to do with the distribution of the coins, except for the fact they were something the mint sold to collectors or speculators, what kind of historic relic are they? Yes, you are free to collect anything that's legal to own, but shouldn't new collectors know what many veteran collectors think of these things? That might make them think twice about paying $1200 for a bag and $1000 in pocket change."
whay makes it interesting to me is that those morgan dollars were produced by the boatload with a purely special interest in mind, the silver lobby, and despite all the romanticism surrounding them, the overwhelming majority never circulated. nothing to do with anything else. then the government melted all the ones they had stored for DECADES or held them even longer till a bigger profit could be made as early as the late 1930's. meanwhile, ol' Harry is watching his sack of 1893-S "pocket change" with interest!!!!!
now, i'm not deluding myself about the state quarter bags. but the above described scenario isn't that different from the SBA/Sac mintings. your decided bias and well intentioned warnings were covered in this weeks "classroom" thread and i'm left wondering, as usual, why classic thumpers refuse to look back every now and then. moderns are just that, modern. no reason to chastise those who collect them, is there??
al h.
If you had set Morgan dollars aside in the 1890s, you, your children and your grand children probably would not have gotten much out of that investment unless you saved the right dates. As late as the early 1960s one could acquire bags of silver dollars at face value. The dealers of that period told me that they would search the bags for better dates. Then they would sell the excess at shows for 99 cents apiece because it was easier to do that than hauling them back to the bank. Bottom line: even 70 years later there was a limited number of Morgan dollars that sold for big bucks. Most of them sold for maybe $2 retail in Brilliant Uncirculated condition.
You can keep yelling that I’m have a bias against modern coins, but all I have tried to do is give you an honest opinion. The mintages for business strike state quarters have run from the hundreds of millions to over a billion pieces. The mintage of Connecticut quarters alone was more than double the mintage for ALL the Morgan dollars from 1878 to 1921. The “rare” Delaware quarter has a mintage (P and D combined) is greater then total Morgan mintage. Then add to that the fact that more than half of the Morgan Dollar mintage was melted, and you can easily see just how “rare” business strike quarters are. Pull out Red Book and see how many coins with mintages in the hundreds of millions sell for premiums. NONE, unless you get into the slabbed high grade coin market.
And here’s one more thought for you. Most of the serious collectors from my generation view the Morgan Dollars are “common” coins. Aside from several scarce dates like the 1889-CC, 1893-S and 1895-P most of them sell for modest prices in less than Mint State.
If you want to hoard state quarters in mini bags, go ahead, nobody is stopping you. If you want to pay $700 for a mini bag of Delaware quarters have at it, try to corner the market. I’m just telling you that those of us who have been collectors for over 40 years, and have seen the coin markets go up and down, think you are betting heavily against the odds. We have seen market makers push common coins to high prices, sell those coins to less experienced people and than watched those markets come crashing down when the promoters abandoned them. You only have to go back to the late 1980s to see the last incidence of that with “old” commemorative half dollars, which have mintages far lower than the state quarters.
Do what you like, but if you get burned don’t start whining that all coin dealers are crooks, and coin collecting is a bad hobby. YOU have been warned.
go reread my post and point me to where i say that i think these quarters or quarter bags are going to appreciate. as a matter of fact, i say pretty much the same thing you do. you just said it a little better, so thanks for helping me out. the point i was trying to make with my long winded comparison was this------a collector comes on board and asks for ways to store what he collects and he gets mainly "advice" that he shouldn't be collecting that in the first place. hence my reference to the classroom thread. sorry if i was misunderstood.
i guess it's a mental hotfoot for me when people get chastised or advised about what to collect/not collect. all the responses up to a point dealt with how to store the coins or how to preserve the bags and then it turned south. shame on me for trying to head things off!!
al h.
<< <i>they even have tags like Beanie Babies! >>
HUGE MONEY MAKING IDEA. Make and sell tag protecters for state quarter bag tags.
"L@@K!!! SUPER RARE FIRST DAY OF ISSUE STATE QUARTER BAG L@@K!!!"
arm is twisted sufficiently, but there are some inaccuracies and some glaring
omissions. The Delaware quarters are worth substantially more than face
value when they are removed from a $25 bag. The fact that people collect these
and will continue to collect them long after the States Quarter program is over
should give them some floor price much higher than face value. While the coins
in the $25 bag are not any better than other coins made for circulation, they are
not really worse. The average bag may contain no gems, but choice coins should
be included. While these coins may not be ideal for a long term investment there
is certainly at least some possibility they could perform well given the proper time
frame. There are likely still to be some low mintage coins and a bag of these could
cover many under performing issues. No, these would be extremely difficult to
recommend except as a collection, but if you buy them from the mint there is no
real possibility of losing large portions of your money except for opportunity costs.
So if you're buying these for fun then knock yourself out, otherwise you might con-
sider some of the advise in this thread.
If you use the dessicant it should be changed or dried from time to time (bake in oven @ 250
degrees for a couple hours). 50 of these bags should weigh about 47 lbs.
As for preserving them, the only thing you realy need to preserve is the bag because the coins inside don't mean anything for reasons I have aready covered.* Perhaps when Martha Stewart gets done with her legal problems she could write an essay about the best ways to preserve canvas and paper tags.
*So Clad King can understand - You can never look at the coins because if you open the bag, the value of the bag is lost. Therefore the coins inside could all be AG-3s - it does not matter what condition they are. Can you understand that concept, Cladking?
Here's another way to look at it. According to Ebay Delaware quarter bags have sold for around $500 recently. The current Delaware quarter roll bid is $22.00. Therefore the quarters alone are worth $55. You are paying a $445 premium for the sealed bag. An open bag sold on Ebay for $82. Openin the bag cost the owner $418.00.
This statement may say everything about Mr Jones any modern collector really needs to know. Mr Jones
apparently thinks coins don't mean anything unless they are US, old, and valuable. Oh sure,
he'll come back and talk about all the exceptions to this rule, but he still is going to slam any-
thing modern and ignore whatever does not fit his beliefs. There's really very little reason for
me to say more since he has said it all.
Perhaps there would be fewer misunderstandings if Billjones hadn't repeatedly slammed moderns
both fairly and unfairly in this and dozens of other threads.
al h.
Great. Now you reminded me about the bankwrapped Delaware rolls I sold for little over face too. Thought I had finally surpressed that one.
I am never visiting Delaware.
to coins made for general circulation. It is, however, unlikely that any known
varieties such as the rotated reverses are common in these bags since they
are more likely to be spotted and reported from this source, and no such re-
ports are generally known.