Why is the TN state quarter more valuable than all the others?
AskRaq
Posts: 2,303
I was just reading about the State Quarter Values at About.com and noticed that it was almost twice the value of the next highest... anyone know why that is?
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<< <i>I was just reading about the State Quarter Values at About.com and noticed that it was almost twice the value of the next highest... anyone know why that is? >>
Some telemarketer bought up a lot of them, put Elvis stickers on them and sold them for way too much money. Therefore, dealers do not have many in backstock.
TD
<< <i>
<< <i>I was just reading about the State Quarter Values at About.com and noticed that it was almost twice the value of the next highest... anyone know why that is? >>
Some telemarketer bought up a lot of them, put Elvis stickers on them and sold them for way too much money. Therefore, dealers do not have many in backstock.
TD >>
Are you really serious? That is too funny ~
For what it's worth, I wouldn't be surprised if CaptHenway's explanation is true.
Thankya'vrymuch
WH
US Mint Press Release II
WH
<< <i>The real key to price today is how many rolls were saved in uncirculated condition. TN was overlooked as people speculated on OH.
WH >>
I see, and thank you for the informative post!
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
<< <i>As may be the case with other state quarters they may be stuck in the middle of a warehouse vault waiting to make it to circulation. I have seen many new rolls of quarters at some banks supplied by Loomis that have been getting full boxes of 2001 and 2002 quarters lately. >>
Coins are normally rotated on a first in first out basis but the states program
has thrown a monkey wrench into the distribution of the quarters. They're still
rotated but in the hurry to get the latest release to market older coins can get
shuffled to the back of storage. Normally you won't see any new coin out of the
FED more than three years old.
Not nearly so many of these coins are being saved as some appear to believe.
If you look at the coins in circulation you'll see that they appear in relatively good
approximation to their mintages. If large numbers of each were being saved then
some of the low mintage issues would be much more difficult to find. I'd guess
savings rates are varying between about five and twenty million. Tennessee has
had higher demand but was probably a lower number as well.
I've said from the beginning that there will be some surprises. Collectors tend
to outthink these things and everyone stocks up on the same coins leaving a few
to be hard to come by.
<< <i>They made 650 million of these quarters, Elvis is not on them (it's musical instruments).... so if a company put Elvis stickers on them and sold the to fanatical Elvis collectors.... how many could they have possibly taken out of circulation?? I mean Maine has 200 million less coins... so even if they stickered 200 million TN quarters, the availability should still be equal to Maine & the value should be similar?? >>
When each state quarter comes out, we buy a $1000 bag of each mint mark for retail sales, and eventually throw the remainder of it in the vault for future sales. It's getting full. Lots of other dealers do the same thing, and the big players throw an extra bag or two back.
The telemarketers did not get all of their coins from the banking system when they came out. They bought them up later from dealers like us, cleaning out that back stock from the vaults. Consequently, the backup supply of uncirculated coins is greatly dimished.
TD
A couple of folks and I were collecting circulated examples of the D mint State Quarters to send back east in exchange for circulated examples of P Mint State Quarter rolls.
I walked into a bank in February or March of 2002 with $100 to buy rolls of quarters. The teller gave me 10 rolls of which 8 were Tennessee D's. I kept a roll for myself, sold a roll (for $10) to my buddies at work and then returned the other 6 rolls for some mixed date rolls to continue my searching.
About two months later, I could not help but notice that the Tennessee D Unc rolls were being sold for $50 each because nobody could find them!
One of those moments in my collecting history which I do regret and because of that, everything gets second guessed before I get rid of it!
I also recall the press release regarding the shutdown of production in Philadelphia and tried to load up on Ohio P Quarters. Unfortunately, so did everybody else so the prices never really went anywhere. Oh Well..........
Dang!
The name is LEE!