Coin drops, do they still occur?

Stooge

I've heard of coin clubs dropping key date coins into circulation in hopes of someone finding them again as a way of brewing interest in coin collecting.

Does this still happen?

Later, Paul.

airplanenut

I don't know if anyone would drop in a key--lots of people put in inexpensive coins such as proofs, IHCs, and buffalos, though... a key date likely wouldn't be recognized unless a collector found it.

Jeremy

sliderider

I've heard of where's George? which is a website where people post the serial numbers of dollar bills before they spend them and others try to find them and report where and when they found them. I've also heard of another one where people hide books they don't want anymore in public places and then report where and when they left them on a website and anyone who wants the book can go get it and hopefully report back that they found it.

coynclecter

I often spend my wheats just so some youngster might find them and get a thrill. No keys though.

K6AZ

I remember last year at Charlotte someone dropped a 1914-D Lincoln into circulation. Caught a blurb on the local TV news about the girl who found it, and she was going to take the cash to repair her car. Don't remember exactly who dropped it, but it was in relation to the Charlotte show.

kranky

The PAN show did a 1914-D coin drop as well.

Halfsense

You are correct about a young woman happily finding a 1914-D cent in circulation as part of the promotion for the 2003 ANA National Money Show in Charlotte, and yes, she was going to use the $100 reward for repairing her car.

"Coin drops," when coordinated with news media coverage, can be a wonderful way to promote the hobby and encourage people to carefully look at their pocket change and perhaps bring to the show the goodies they've stashed away in a coffee can or sock drawer, or even better, bring in an actual, valuable coin collection to sell. At the 1997 ANA World's Fair of Money in New York City, U.S. Treasurer Mary Ellen Withrow happily included a donated 1909-S V.D.B. cent in the $1.50 in exact change she gave a Times Square pushcart vendor to purchase a pretzel while reporters watched.

I've given a great deal of thought to the concept of the coin drop the past few years and based on 30 years in journalism and broadcasting and now almost 10 years on "The Dark Side of the Force" (PR), I am not as supportive of this stunt as in the past. The coin drop alone only focuses on what is or may be in circulation or what may be in that coffee and sock drawer. Depending on the news coverage you get from the stunt, it may not give the audience a compelling reason to actually visit the coin show -- and publicity about the show is generally the purpose of the coin drop.

If you can carefully control the message with the local news media -- make sure alluring details about the coin show are part of the coin drop story -- then the stunt can enhance the show's promotion to attract visitors.

-donn-

sliderider

And what happens if nobody notices the dropped coin in their pocket change? Then the stunt is for nothing. Most people I know, when they get pennies, stash them in jars or throw them away. Would be a shame if someone discarded a nice S-VDB and it was never seen again.

cladking

It would be interesting to see what happened if they dropped a coin in circulation that
didn't stand out as much like an '82-NMM dime. I'd guess that the "dropped" coin wouldn't
come back at all but two or three others would. There would also be a lot of phone calls
to local dealers asking about the '79 or '74 dimes found with no mint mark.

We might get a lot more long term attention by distributing folders for circulating coins then
by putting valuable obsolete coins in circulation.

nwcs

Not of rare coins I would imagine! But of lower grade common things I have heard of it.

coynclecter

What great PR before a big show. Drop a couple of coins worth a grand or two into circulation a couple of weeks before a big show and tell the press. Then have a dealer who will buy them back at the show. Everyone will be looking at their change prior to the show. Great advertising.

Conder101

It has been done many times and yes they do usually use key coins such as 09-SVDB's and 14-D cents. They do try to publicize it as mch as possible to get people to look at their change and they do announce that they will pay X amount for them if they are found and brought to the show. The first few times it was done they were never found but at some shows they have been brought in. A feww years ago at one show someone found the 14-D cent and brought it in, only it wasn't the one they had spent! He had found one that just happened to be in circulation.

Just recently (Past couple weeks) for the show in Carson City they dropped an 1877-CC quarter and it was found and brought in.

My problem with the coin drops is how they do the publicity. Imagine you are the merchant they decide to spend the coin. Some comes and makes a purchase with reporters, photographers, and TV cameramen in tow and they are all taking pictures of the person spending money with you and then they all leave. Question, do you think maybe there might be something odd about the money they spent with you? Do you examine it? If you do and one of the coins is old like a wheat cent do you keep it or just pass it on? Frankly even if I didn't know anything about coins it would make me think there might be something special about it since they were going to such lengths to record them spending it. And I know in at least one case the press group had someone following them that smply waited until they made the drop, and took all the pictures, then went to the merchant, bought all his change and got the coin. It never enven had a chance to get into general circulation.