Callling all old timers: what was it like in the 70s?

I started collecting in about 1979, when I was 11 years old. Naturally it was right at the start of the big silver runup, so even though I searched and searched, I only found very few 90% coins in circulation or in rolls from the bank. Since fewer people knew about war nickels and 40% halves, I did okay finding them here and there, but I was almost shut out of 90% from circulation for years!
My question to the old timers is as follows: what was it like to have a pocket full of change in the 70s, before the big Hunt Brothers fiasco? Was there 90% all over the place? Was it somewhat common? Was it rare even then? Who has some good memories about that period of time.
My question to the old timers is as follows: what was it like to have a pocket full of change in the 70s, before the big Hunt Brothers fiasco? Was there 90% all over the place? Was it somewhat common? Was it rare even then? Who has some good memories about that period of time.
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I was in my single digit years up until the cloud of shame came over the U.S. Presidency...the Carter Administration.
Silver was quickly scooped up when the announcement was made in the change of composition.
I have read that the Gov't was actively removing silver from circulation up until the early 70's.
BST transactions: dbldie55, jayPem, 78saen, UltraHighRelief, nibanny, liefgold, FallGuy, lkeigwin, mbogoman, Sandman70gt, keets, joeykoins, ianrussell (@GC), EagleEye, ThePennyLady, GRANDAM, Ilikecolor, Gluggo, okiedude, Voyageur, LJenkins11, fastfreddie, ms70, pursuitofliberty, ZoidMeister,Coin Finder, GotTheBug, edwardjulio, Coinnmore, Nickpatton, Namvet69,...
bob
Every couple of months you could snag a one or two and I would always reimburse the register accordingly.
Even as a paperboy in 1966-1970, very little silver was given to me for payment.
Shortly thereafter, my parents visited Hawaii and somehow I convinced them to bring me back some rolls of half dollars. They got exactly two customer wrapped rolls from a small bank. The rolls contained a Walker, several Franklins, a bunch of 90% Kennedys, and quite a few 40% halves. They were the greatest rolls I ever saw in the 1970s. I went so far as to accuse my parents of salting them. About the only silver you would typically get in rolls by 1978 was an infrequent war nickel or 40% half.
One thing I can tell you is that
I was a lot less tired at 8:00 at
night than I am now !
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Damn, now I'm an old timer??? I was in my twenties and thirties in the 1970's. Silver was non existent by the late 60's. None to be found in the 70's in my view.
bob
Whew, me too I guess.....
I had a paper route in the late 60's and I saw the silver dry up quickly from '67 to '70......
Certification in the form of ANACS certificates (no slabs) came in at the end of the decade. Before then it was your brains and experience + the integrity and honesty of the dealer that kept you out of trouble.
High inflation, higher gold and silver prices (remember the Hunt Brothers?) and speculation to the market to unbelievable heights at the end of the decade. I was pretty much priced out of the market for anything nice and collected Two Cent Pieces in EF to satisfy my "collectors' sweet tooth." That was followed by a brutal market collapse that took a lot of dealers with it.
The run up in metals by 1979 generated long lines at coin shops with people unloading even Barber and Seated dimes, because their metal value exceeded their numismatic value.
"Seu cabra da peste,
"Sou Mangueira......."
1. My paternal grandmother was collecting coins until about 1978, when her eyesight deteriorated to the point that she stopped buying coins. Prices for generics (Morgans, Walkers, etc.) soared to ridiculous levels.
2. Whizzed coins were everywhere.
3. Dealers were dipping coins while you waited, if you asked.
4. I was actively collecting foreign coins (Austro-German thalers and Swiss shooting thalers). I found Davenport's books fascinating.
5. I was a teenager during most of those years, and lived near Gables Stamp & Coin (owned by John Albright). When business was a bit slow, one or more of his guys was usually behind a counter, cleaning coins with soft cloths, brushes, and various solvents. He was still in business in Coral Gables (but his shop had moved) when I last saw him in 2011. His selection of classic gold back then was amazing.
6. Silver coins were mostly gone if you received change in South Florida. On vacation trips to the Rocky Mountains, we were still routinely getting silver coins in change, especially in small towns. When I was living in Logan, UT as late as 2005, I received a worn silver dime or quarter in change a couple of times each year.
7. The major bullion gold was the Krugerrand. My grandmother had stacks of them, bought from Sydney Smith & Sons in Miami.
8. The information available to average collectors was comparatively sparse. People still payed attention to prices in the Red Book back then.
9. Coin World was a far more substantial publication, from what I remember. Nowadays, I can practically finish reading it before I get back into my house from the mailbox.
10. Ads and house publications from Dave Bowers' company were always a treat to read.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
By 1974/1975 there was virtually no silver at all in any of the change, but the Wheat cents remained.
In honor of the memory of Cpl. Michael E. Thompson
Started subscribing to it around 1967. Cost $6 for 52 issues, but they usually had specials where you could get up to 66 issues for $6. They made their money on the advertising. The target was 75% advertising/ 25% editorial content.
Then the cost of newsprint skyrocket, as did postage, and the crash of the early 1980's took out many of the advertisers. A lot of coin shops closed, eliminating newsstand sales. The internet made things faster, and made people want to get the editorial content for free.
TD
Nobody collected from circulation in the '70's and this didn't change until 1999.
Kids would bring in their parents silver coin collections all the time to play.
There was not a day that went by that we did not get anywhere from 25 to 100 silver coins per day.....mostly quarters
If only I was more of a collector back then.
If my memory serves me correctly, I'm sure I found less than $10 face the whole decade.
By the 80s a war nickel might have been a quarterly find; silver a biannual (if that) event.
40% halves were still out there but nobody wanted them and you could get maybe 62-65 cents each, that's if you shopped them around.
I will echo a previous post about the former heft of "Coin World." Used to look like the Racing Form Kentucky Derby addition.
Menomonee Falls Wisconsin USA
http://www.pcgs.com/SetRegistr...dset.aspx?s=68269&ac=1">Musky 1861 Mint Set
Wheat backs and Jeffs were what to look for.
Still abundant.
I have gallon bottles full of Jeffs from the 40's and 50's taken out of the cash register as well as a couple of wheats from almost every roll opened.
Instead they argued about letters.
In fact, it was very rare to find a toned coin in most showcases then.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
I also remember waiting for Coin World as it was the only place to find coin pricing, there being no internet at that time. I also remember that roll collecting was popular, but I never got into that (good thing!)
I also remember waiting for Coin World as it was the only place to find coin pricing, there being no internet at that time. I also remember that roll collecting was popular, but I never got into that (good thing!)
The early 1970's were fun too. First was getting 1972 P type 2 Ikes out of circulation followed by getting B like type H quarters out of circulation in 1973 on.
I did visit a coin show at a Washington DC hotel in the summer of 1970 but only because it was near where I was staying.
I would have saved any silver US coins that I found and I don't remember finding any.
I liked Jimmy Carter and voted for him twice.
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The US government had five mail bid sales between October 31, 1972 and June 30, 1974. These sales limited collectors to only purchase one of each date per household. The 1879, 1890 & 1891 coins sold out rather quickly and the rest of the coins met mild enthusiasm. As of the last sale date in 1974, the US government still had about one million CC coins left.
The coins lay dormant for several years until in 1979 the president signed legislation to authorize the sale of the remaining coins at a set price. In early 1980, this set price was retracted just a month before the coins were set to sell in another round of mail bid sales due to a run in the silver market. Originally, the 1980 sale limited the amount of coins per customer to 500 pieces. However, just thirteen days before the sale began, the number was dropped to thirty-five coins per customer. The sale ended in July of 1980 after a hectic few months. Below you will find pictures of original paperwork for both sale 3 & 4. Click for a larger view.
A friend of mine bought 3 GSA CC sets in the early 1970's while he was a young man in the Navy. Still has them.
I remember 1979 as the year of the bailout. That was when coin prices on even junk and problem coins rose far enough that you could get out of most mistakes made a few years earlier. Dealers were asking what I had to sell to them....anything would do. They just needed product. I took advantage of that and sold a lot of early "mistakes" for profits. Who knew I should have sold everything including the good stuff, then come back in summer 1982 for the 65% off sale.
On a brighter note, I lived in a small town with a business district of about 4 blocks long on Main Street that had maybe 5 different bank branches. On summer days I'd hitch a ride into town with my mom, then buy a couple of rolls of pennies or nickels from the first bank, sit in the alley and search the rolls, then trade them in on 2 different rolls at bank number 2, and so on. Back then the tellers would make change for you even if you weren't a bank customer. Thanks, Obama!
Lots of dateless Buffalo Nickels in rolls tho. You used to be able to drop acid on the date area to make the date appear (shudder at that now!).
When we dropped acid in the seventies, all kinds of funky things appeared . . .
HH
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
They were barbaric times.
I was 12 years old and maybe that's why I thought that it was all soooo cool.
Everything was geared toward patriotism. And I mean everything. Shows, advertisement, retailers, schools.....
The bicentennial quarter is still one of my favorite designs.
Edit: So enjoy the collecting, business and periodical stories that have been posted.
"If I say something in the woods and my wife isn't there to hear it.....am I still wrong?"
My Washington Quarter Registry set...in progress
By '79 when the SBA was released I threw up a little in my mouth.
See the TOP 100 songs from that year ?
See how many titles fit Susan B.
"My Sharona" The Knack
2 "Bad Girls" Donna Summer
3 "Le Freak" Chic
4 "Da Ya Think I'm Sexy?" Rod Stewart
5 "Reunited" Peaches & Herb
6 "I Will Survive" Gloria Gaynor
7 "Hot Stuff" Donna Summer
8 "Y.M.C.A." Village People
9 "Ring My Bell" Anita Ward
10 "Sad Eyes" Robert John
11 "Too Much Heaven" Bee Gees
12 "MacArthur Park" Donna Summer
13 "When You're in Love with a Beautiful Woman" Dr. Hook & The Medicine Show
14 "Makin' It" David Naughton
15 "Fire" The Pointer Sisters
16 "Tragedy" Bee Gees
17 "A Little More Love" Olivia Newton-John
18 "Heart of Glass" Blondie
19 "What a Fool Believes" The Doobie Brothers
20 "Good Times" Chic
21 "You Don't Bring Me Flowers" Neil Diamond & Barbra Streisand
22 "Knock on Wood" Amii Stewart
23 "Stumblin' In" Suzi Quatro & Chris Norman
24 "Lead Me On" Maxine Nightingale
25 "Shake Your Body (Down to the Ground)" The Jacksons
26 "Don't Cry Out Loud" Melissa Manchester
27 "The Logical Song" Supertramp
28 "My Life" Billy Joel
29 "Just When I Needed You Most" Randy VanWarmer
30 "You Can't Change That" Raydio
31 "Shake Your Groove Thing" Peaches & Herb
32 "I'll Never Love This Way Again" Dionne Warwick
33 "Love You Inside Out" Bee Gees
34 "I Want You to Want Me" Cheap Trick
35 "The Main Event/Fight" Barbra Streisand
36 "Mama Can't Buy You Love" Elton John
37 "I Was Made for Dancin'" Leif Garrett
38 "After the Love Has Gone" Earth, Wind & Fire
39 "Heaven Knows" Donna Summer and Brooklyn Dreams
40 "The Gambler" Kenny Rogers
41 "Lotta Love" Nicolette Larson
42 "Lady" Little River Band
43 "Heaven Must Have Sent You" Bonnie Pointer
44 "Hold the Line" Toto
45 "He's the Greatest Dancer" Sister Sledge
46 "Sharing the Night Together" Dr. Hook & The Medicine Show
47 "She Believes in Me" Kenny Rogers
48 "In the Navy" Village People
49 "Music Box Dancer" Frank Mills
50 "The Devil Went Down to Georgia" The Charlie Daniels Band
51 "Gold" John Stewart
52 "Goodnight Tonight" Wings
53 "We Are Family" Sister Sledge
54 "Rock 'n' Roll Fantasy" Bad Company
55 "Every 1's a Winner" Hot Chocolate
56 "Take Me Home" Cher
57 "Boogie Wonderland" Earth, Wind & Fire & The Emotions
58 "(Our Love) Don't Throw It All Away" Andy Gibb
59 "What You Won't Do for Love" Bobby Caldwell
60 "New York Groove" Ace Frehley
61 "Sultans of Swing" Dire Straits
62 "I Want Your Love" Chic
63 "Chuck E.'s In Love" Rickie Lee Jones
64 "I Love the Nightlife" Alicia Bridges
65 "Ain't No Stoppin' Us Now" McFadden & Whitehead
66 "Lonesome Loser" Little River Band
67 "Renegade" Styx
68 "Love Is the Answer" England Dan & John Ford Coley
69 "Got to Be Real" Cheryl Lynn
70 "Born to Be Alive" Patrick Hernandez
71 "Shine a Little Love" Electric Light Orchestra
72 "I Just Fall in Love Again" Anne Murray
73 "Shake It" Ian Matthews
74 "I Was Made for Lovin' You" Kiss
75 "I Just Wanna Stop" Gino Vannelli
76 "Disco Nights (Rock-Freak)" GQ
77 "Ooo Baby Baby" Linda Ronstadt
78 "September" Earth, Wind & Fire
79 "Time Passages" Al Stewart
80 "Rise" Herb Alpert
81 "Don't Bring Me Down" Electric Light Orchestra
82 "Promises" Eric Clapton
83 "Get Used To It" Roger Voudouris
84 "How Much I Feel" Ambrosia
85 "Suspicions" Eddie Rabbitt
86 "You Take My Breath Away" Rex Smith
87 "How You Gonna See Me Now" Alice Cooper
88 "Double Vision" Foreigner
89 "Everytime I Think of You" The Babys
90 "I Got My Mind Made Up (You Can Get It Girl)" Instant Funk
91 "Don't Stop 'til You Get Enough" Michael Jackson
92 "Bad Case of Loving You (Doctor, Doctor)" Robert Palmer
93 "Somewhere in the Night" Barry Manilow
94 "We've Got Tonight" Bob Seger & The Silver Bullet Band
95 "Dance the Night Away" Van Halen
96 "Dancin' Shoes" Nigel Olsson
97 "The Boss" Diana Ross
98 "Sail On" Commodores
99 "I Do Love You" GQ
100 "Strange Way" Firefall
I distinctly remember buying a 1804 quarter in original fine condition for $300.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
Back in the 70's people had to walk all the way across the room to change the channel on the TV.
They were barbaric times.
You could by a TV with a remote if you wanted it, but my parents thought that was an extravagance.
Back in the 70's people had to walk all the way across the room to change the channel on the TV.
They were barbaric times.
Sometimes I wonder how we did it and then I remember there weren't ten minutes of ads every three minutes and sometimes there was one good program on after another.
I bought my first Morgan dollar from a friend who's dad was a part time dealer in 1972. An 1892-O in VF with rim ding for $1.75.
The neighbor lady was into coins, and bought some of the GSA CC dollars from the GSA sales. My mom then bought one from her as a gift to me. A dazzling white '83CC, for $30.
Indies....so missed all the silver mania....When I was a kid delivering papers, there was nothing but silver.... Walkers, Franklins, Washies, Mercs and Rosies was what change was... well, with nickels and wheaties too.... Oh for a time machine....