A different sort of coin-roll-hunting, local coin shop style
dcarr
Posts: 10,328 ✭✭✭✭✭
On a recent trip to my local coin shop and they had (as usual) a big bowl of loose Buffalo Nickels on the counter, priced at 75 cents each. All were claimed to have full dates. I was skeptical of that, but I surmised that there might be a few better ones in there. But I didn’t want to stand there for a long time and look through about 2,500 coins. So I asked how much if I bought the whole bowl ? 35 cents each. The shop adds coins to the bowl periodically, and customers pick out some coins now and then. Had anyone methodically gone through the whole bowl ? I assumed not. I figured full-date problem-free coins are worth 35 cents, if not a little bit more than that. But I was sure there would be a number of sub-par coins. Would there be enough premium coins to make up the difference ? I decided to take the gamble and have some fun – sort of like searching through rolls like I used to do. So rather than counting them all, we weighed 100 random coins, then weighed the whole lot, and then extrapolated the total number of coins.
Out of about 2,500 coins, there were 220 that I determined to be culls (no date, weak date, polished, corrosion, and/or damage). I figure those 220 coins are worth, on average conservatively, 10-cents each. So that would equate to a net loss of (.35-.10 * 220) = $55.
Here are four of the culls (1936 partial cut-out, 1928 reverse planed off, no-date [1913-P] type-1 on mound, 1927 very thin nitric acid treated):
Now for the better coins.
A group of somewhat better dates (fairly worn); (1) 1920-S, (3) 1923-S, (6) 1925-S, (1) 1927-D, (1) 1928-S:
Five of the dozen or so 1938-D coins:
Small box of better-grade and/or mint-marked coins, most from 1927-1937:
No-date [1913] Type 1 (mound) with “S” mint mark:
1916-S #1:
1916-S #2:
1917-S:
1918-D #1:
1918-D #2 (slightly porous):
1918-S:
1920-D:
1921-S:
1924-S:
1926-S:
1930-S #1 (full horn):
1930-S #2 (full horn):
Now here are the best coins in terms of date and condition overall:
1920-S:
1925-D:
1926-D:
1931-S:
1935-S #1 (full horn):
1935-S #2 (MS-63 ! - not sure how that coin ended up in there and stayed in high grade):
1936-D (AU):
I also put together a couple rolls of common-date but better-grade (problem-free EF) coins.
While I was there I looked through coins in their cases and decided to buy this one that I liked the look of (1908-D Barber Dime):
So that was some old-time coin collecting fun, and mildly lucrative.
Comments
That must have been fun and surprising at the results. Some decent finds in there. What else does the shop have in bulk that you could buy?
That's a decent haul. At least you had fun doing it as well
Wheat cent bags.
I don't think I am ready for that, though
That look like a lot of fun for the money - hard to believe that 35-S was still in there!
A good time on the cheap.
Can you use these for future overstrikes?
Dead Cat Waltz Exonumia
"Coin collecting for outcasts..."
Amazing finds for .35 each! Now, how would it be if you placed them in an old Library of Coins album? What dates would be missing? It looks like you would have 2/3s of a complete set or so.
That is interesting.... I think you did OK overall on the nickels. A good time at a coin shop...Cheers, RickO
I thank you for posting this. I had a real good time looking at all the coins.
Pete
Were there photos ?
Sounded like good Winter fun!
I can't see the images either...
I'm not sure why the images show up for some people and not others. So here is my original post again, but with clickable links for each image:
On a recent trip to my local coin shop and they had (as usual) a big bowl of loose Buffalo Nickels on the counter, priced at 75 cents each. All were claimed to have full dates. I was skeptical of that, but I surmised that there might be a few better ones in there. But I didn’t want to stand there for a long time and look through about 2,500 coins. So I asked how much if I bought the whole bowl ? 35 cents each. The shop adds coins to the bowl periodically, and customers pick out some coins now and then. Had anyone methodically gone through the whole bowl ? I assumed not. I figured full-date problem-free coins are worth 35 cents, if not a little bit more than that. But I was sure there would be a number of sub-par coins. Would there be enough premium coins to make up the difference ? I decided to take the gamble and have some fun – sort of like searching through rolls like I used to do. So rather than counting them all, we weighed 100 random coins, then weighed the whole lot, and then extrapolated the total number of coins.
Out of about 2,500 coins, there were 220 that I determined to be culls (no date, weak date, polished, corrosion, and/or damage). I figure those 220 coins are worth, on average conservatively, 10-cents each. So that would equate to a net loss of (.35-.10 * 220) = $55.
Here are four of the culls (1936 partial cut-out, 1928 reverse planed off, no-date [1913-P] type-1 on mound, 1927 very thin nitric acid treated):
designscomputed.com/buff_bowl/DSCN1640.JPG
designscomputed.com/buff_bowl/DSCN1641.JPG
Now for the better coins.
A group of somewhat better dates (fairly worn); (1) 1920-S, (3) 1923-S, (6) 1925-S, (1) 1927-D, (1) 1928-S:
designscomputed.com/buff_bowl/DSCN1642.JPG
Five of the dozen or so 1938-D coins:
designscomputed.com/buff_bowl/DSCN1643.JPG
Small box of better-grade and/or mint-marked coins, most from 1927-1937:
designscomputed.com/buff_bowl/DSCN1644.JPG
No-date [1913] Type 1 (mound) with “S” mint mark:
designscomputed.com/buff_bowl/DSCN1645a.JPG
designscomputed.com/buff_bowl/DSCN1645b.JPG
1916-S #1:
designscomputed.com/buff_bowl/DSCN1646.JPG
designscomputed.com/buff_bowl/DSCN1647.JPG
1916-S #2:
designscomputed.com/buff_bowl/DSCN1648.JPG
designscomputed.com/buff_bowl/DSCN1649.JPG
1917-S:
designscomputed.com/buff_bowl/DSCN1650.JPG
designscomputed.com/buff_bowl/DSCN1651.JPG
1918-D #1:
designscomputed.com/buff_bowl/DSCN1652.JPG
designscomputed.com/buff_bowl/DSCN1653.JPG
1918-D #2 (slightly porous):
designscomputed.com/buff_bowl/DSCN1654.JPG
designscomputed.com/buff_bowl/DSCN1655.JPG
1918-S:
designscomputed.com/buff_bowl/DSCN1656.JPG
designscomputed.com/buff_bowl/DSCN1657.JPG
1920-D:
designscomputed.com/buff_bowl/DSCN1658.JPG
designscomputed.com/buff_bowl/DSCN1659.JPG
1921-S:
designscomputed.com/buff_bowl/DSCN1660.JPG
designscomputed.com/buff_bowl/DSCN1661.JPG
1924-S:
designscomputed.com/buff_bowl/DSCN1662.JPG
designscomputed.com/buff_bowl/DSCN1663.JPG
1926-S:
designscomputed.com/buff_bowl/DSCN1664.JPG
designscomputed.com/buff_bowl/DSCN1665.JPG
1930-S #1 (full horn):
designscomputed.com/buff_bowl/DSCN1666.JPG
designscomputed.com/buff_bowl/DSCN1667.JPG
1930-S #2 (full horn):
designscomputed.com/buff_bowl/DSCN1668.JPG
designscomputed.com/buff_bowl/DSCN1669.JPG
Now here are the best coins in terms of date and condition overall:
1920-S:
designscomputed.com/buff_bowl/DSCN1672.JPG
designscomputed.com/buff_bowl/DSCN1673.JPG
1925-D:
designscomputed.com/buff_bowl/DSCN1674.JPG
designscomputed.com/buff_bowl/DSCN1675.JPG
1926-D:
designscomputed.com/buff_bowl/DSCN1676.JPG
designscomputed.com/buff_bowl/DSCN1677.JPG
1931-S:
designscomputed.com/buff_bowl/DSCN1678.JPG
designscomputed.com/buff_bowl/DSCN1679.JPG
1935-S #1 (full horn):
designscomputed.com/buff_bowl/DSCN1680.JPG
designscomputed.com/buff_bowl/DSCN1681.JPG
1935-S #2 (MS-63 ! - not sure how that coin ended up in there and stayed in high grade):
designscomputed.com/buff_bowl/DSCN1682.JPG
designscomputed.com/buff_bowl/DSCN1683.JPG
1936-D (AU):
designscomputed.com/buff_bowl/DSCN1684.JPG
designscomputed.com/buff_bowl/DSCN1685.JPG
I also put together a couple rolls of common-date but better-grade (problem-free EF) coins.
While I was there I looked through coins in their cases and decided to buy this one that I liked the look of (1908-D Barber Dime):
designscomputed.com/buff_bowl/DSCN1686.JPG
designscomputed.com/buff_bowl/DSCN1687.JPG
So that was some old-time coin collecting fun, and mildly lucrative.
There was not a single 1914 or 1915 dated coin in the lot, from any mint. There were only two 1913 coins (both mound type with date worn off, one [P], one "S").
Dates that were NOT present in any form or condition:
1913-D Type-1 (mound)
1913-[P] Type-2 (line)
1913-D Type-2 (line)
1913-S Type-2 (line)
1914-[P]
1914-D
1914-S
1915-[P]
1915-D
1915-S
1916-D
1917-D
1919-D
1919-S
1921-[P]
I also looked for varieties, but did not find any.
EDIT:
I did find another 1920-S and a fairly worn (but readable) 1924-D, so I took that last one off the list of dates that I didn't find.
I plan to use some of the 220 culls to make some "1911-S" (Type-2 line) over-strikes. I already made a few of those some months back, but I did not previously release any.
Did you leave the 13-S T2 off your list? If not you got quite the bargain!
You are an excellent photographer!
carolinacollectorcoins.com
For years, one of my favorite activities has been searching bulk quantities of full, part and no date Buffalos from B&Ms in the area and when we travel. Most of the time the owners are too busy to individually scutinize each coin that comes in, especially the common dates in the 30s, where many varieties exist, often in better grades. Occasionally, a better date in a nice, collectible grade will slip through. By now, I've developed a system that allows me to re-sell the coins and at least break even or more often make enough to keep me looking. I should add I'm retired and my eyes are still pretty good. I consider it my version of buying lottery tickets, except you get money back. And I've been entertained. Occasionally, a big score comes along. I've found 2 1916/16 (Fair2 and G-6), a 1918/7 D that PCGS graded G-4, and more doubled dies, 2-feathers and RPMs than I could list or remember. Over time, I have used the profits to help build a fairly impressive 70-piece Buffalo set including the 5 major varieties as well numerous certified varieites and errors in high grades.
My most recent find, which I posted here last year, came from a batch of part dates that cost me 15 cents apiece.
https://www.greatcollections.com/Coin/935167/1916-Buffalo-Nickel-Doubled-Die-Obverse-FS-101-016-PCGS-G-06
Oops, I meant to write that the [1913]-S I found was a Type-1, and so the 1913-S type that I did not find was a Type-2.
(I just now corrected my original post.)
That is a nice score. I check all the 1916 and no-dates that I get, but no luck on finding one of those (so far).
Thanks, the circulated photos come out pretty good.
But I could use some improvement on mint-state and proof coins.
I once cherried a dateless 1916 DDO from a batch of slick coins I bought for .15 each. Selling that one sure filled a lot of album holes!
a good place to start is to swap out the light type you are using.
gr8 thread btw !
Enjoyed the pixs. Did not see any laminations which are somewhat common in the Buff. series. Did you check for rotated reverses?
Thanks for the info. Question: where can you sell them and how much can you get for full date Buffs? And the better dates? I ask because many years ago, I picked up a number of 31 D dimes, and when I took them to a show, I was only offered melt for them.
Seven years ago, a dealer in Fairbanks AK offered me a number of rolls of Unc. RD 1958 P Wheat Cents. I forget whether it was for $5 or $7.50 a roll. I passed; just didn't want to spend the time looking through them to see if any would be MS 66 or better.
"Seu cabra da peste,
"Sou Mangueira......."
Dammit, you know I've been looking for the 16/16 for 35 years and have never found one (no 1915 DDO-001 either.) I've cherried all the other biggies, tho, including about a dozen 18/17-D, from 1962-2014. Even some proofs-matte and one brilliant.
I'm not sure, but I will have a table at a coin show in March, so I plan to offer the bulk coins at that time. I plan to keep a few of the better-date coins and the rest of the better-date coins I will sell on eBay (if not at the coin show).
If I were offered 1931-D dimes, I would pay a premium for them over the normal going rate for 90% silver coins.
I think perhaps you offered them to the wrong dealer (and/or a dealer who had no real interest or market for such things).
There were quite a few coins with minor planchet defects - nothing noteworthy.
I did check for rotated dies, but did not find any significant.
I also checked for vintage counterfeits (none of those either).