State Quarters a fad?

dalbert · March 24, 2003 11:23AM

Does anyone here think that the State Quarter craze is a fad that will subside? Is it worth it buying slabs? Points of view welcom

KlectorKid · March 24, 2003 11:26AM

Yes, I think moderns as a whole are. Maybe not quite a fad but they will atleast subside in price and demand in the years to come.

dalbert · March 24, 2003 11:32AM

Subside in price? So for investment, you don't think they are not worth buying now?

dabugler · March 24, 2003 11:32AM

State Quarters posses all the signs of a fad. Ultimately, they are real and are responsible for igniting the new wave of numismatics. Sad to say, the "big business" side of the house has taken hold on an initiative by the US mint and is exploiting and reeping the benefits.

Slab On!

hookooekoo · March 24, 2003 11:33AM

For some individuals, the State Quarters will be a fad, but in the long run, I think it will be a popular item to collect (such as trying to fill whitman folders and such). The State Quarters are creating so many new collectors (me being one of them), that surely several will stick with it.

As for is it worth buying slabs?, there is so much out there that people are collecting, that I don't think very many things in regards to State Quarters will ever gain in big time value. The few exceptions will be the things like the Silver Mint Set (of which only 800,000 were produced in 1999, so it will be a key set, after all, current prices are approaching $200).

Fifty years from now, I think new collectors will still find the State Quartes very interesting to try to collect, but I don't think they will be extreamly valuable. Right now, you can buy a Mint State Washington Quarter that is 50 years old for only about $5 (Red Book), and I don't think many people had a reason to hord 1953 quarters. And at that, less than 20 Million 1953 Quarters (for a given Mint) were produced. Given that state quarters are being produced in the hundreds of millions, I think that in 2050, you will be able to buy an entire Mint State State Quartes set for $200.

As will all series, you just have to collect what interests you.

SeattleSlammer · March 24, 2003 11:35AM

I think the state quarter program was a great idea to get "average Joe and Jane" interested in coins. The US doesn't have the best track record of
releasing multiple coin designs in the same year, like say Canada or other countries. So from that standpoint, I think it's
a good thing for the hobby. Granted, most of the quarter designs are TERRIBLE, with lame state outlines as part of the "design."
Really lame, but that's another issue.

As for collecting them, I'd vote against that. Think about it: you get a nice DCAM Proof 69 or 70 quarter in a PCGS holder. I guarantee that there
will eventually be tens of thousands of the same coin available (just by looking at the sheer number of coins minted).

So I agree with many people that collecting modern coins is a fool's game (unless you happen to be hoarding bags of 95-W silver eagles
like me!).

dalbert · March 24, 2003 11:38AM

Thanks everyone for the replies. I was starting to think that I was the only one who thought about it that way..

Pretty weird though. Some state quarters go for as much as $1000!

Jaredc · March 24, 2003 11:39AM

They still making those things?

itsnotjustme · March 24, 2003 11:41AM

All coins were once moderns.

dabugler · March 24, 2003 11:43AM

<< <i>The US doesn't have the best track record of releasing multiple coin designs in the same year, like say Canada or other countries. >>

When was the last time Canada released multiple coin designs for regular issue?

SeattleSlammer · March 24, 2003 12:11PM

dabugler, I think I miswrote. I meant that Canada would change their dollar coin reverse designs almost every year....
which I think is really cool because they're not putting the exact same coin out year after year.

ursabear · March 24, 2003 2:04PM

The Canadians did a different quarter a month for two years surrounding the Millennium. I found a set or two of them. They're really fascinating. Some are even designed by school kids.

It is nice to see such great answers to this thread. Good, solid out-of-the-box thinking. They're fun, and some may be valuable with time (like an 83-P or 83-D Washington in high grade). But if they don't, and folks haven't socked a fortune in them, they'll still be... fun... That's what's so wonderful about them. I don't think I'm ready to go back to having the exact same designs year after year after year again.

Besides, the silver proof stuff is really beautiful to me, and I think they're fun to collect, grade, and discuss.

Investment? hmmm maybe not. Fun on cost of coins? Yes, most definitely.

My latest Illinois P sits right next to a nice old happy wheat, winged Liberty, and buffalo nickel on my desk. I think it is a true treat for my eyes.

My grandfather thought Morgans were plain old junk silver coins that everyone had in their sock drawers for spending money - they were "moderns" to him. (But I still think they're cool coins.)

Geoman · March 24, 2003 2:52PM

Yes, I think they are a "fad." However, as many have mentioned, the best thing about the 50 State Quarter Program is the generation of many new collectors. I do not every see them rising much in price, and don't think they are a good investment. However, that being said, I do save a roll of each state and mint. These I get "at cost" from my local banks for $10 per roll. These are the new, uncirculated O/W rolls. I am lucky that I am able to get one new "P" mint roll and one "D" mint roll from the banks at face value. So, at least, I can never lose money, as they will always be worth face value.

Don't know if they are really worth keeping, as so many people are, but I am throwing each roll into the safe depost box, and when my 1-year old inherits them in 50+ years, it will be something "neat" for him I hope.

dabugler · March 24, 2003 3:28PM

Don't you ever get the urge to peek in that Ohio-P roll? You never know what might be in there. I'm still waiting for "the Community" to announce the "key".

Baley · March 24, 2003 5:17PM

I think state quarters will be collected much like modern commemeratives and bicentennial coins, that is, most collectors of the coins will have a type set with one example of each design, and each collector will decide how high a grade (read, how many times face value) he is willing to pony up for.

The people buying coins at face and getting the coins into high MS slabs are making money now, as are those breaking out proof coins and getting the high grades. I expect to be able to buy a complete set in high grade in 2010 or so for not much cash, certainly for less than they cost now, so the set i'm collecting out of circulation will do fine until then. I am not in a big hurry to complete a set of these coins, as i am quite sure they will continue to be available. I am sure people are putting away roll sets of these coins.

you ask, "is it worth buying slabs"

no, usually it is not. buy the coin, and don't pay too much for it.

izzy452 · March 24, 2003 9:50PM

Yes I think the State Quarters is a fad. I do collect them but raw unc. If they will be worth anyhing later on , I will have em slabbed and give em to my grandkids.

Walt

BillJones · March 24, 2003 11:38PM

Collectors should regard the State Quarter series as something with which to have fun. Anyone who is setting aside BU rolls with the idea that they are going to be great investments for the future will be disappointed IMO. There are simply too many coins in run of the mill BU condition getting set aside, and the mintages, which all in the hundreds of millions or over a billion, are just too high.

There might be a great many state quarter collectors, but the key point is, how many of them will be willing to pay big bucks (or even a price over face value) for the quarters that might be missing from their albums? As it is with many numismatics items, not that many collectors are willing to pay really big bucks.

The Proof sets will always be collectors’ items, but I doubt that the prices will hold at the current high levels that some sets now bring in the long run. One need only look at the price performance of sets from 1960 to the 1980s to see what happens once run of the mill modern Proof sets get out of the limelight.

The jury is out on the super grade coins in slabs. If the registry phenomenon is a permanent fixture in the numismatic landscape, if demand is growing and if the supply is low in reality or carefully managed, these prices might hold up or increase. I wouldn’t bet on any of those things, but then again, I’m mostly a “classic coin” collector and dealer.

baccaruda · March 25, 2003 12:00AM

yeah,

people back in the 1870s who were saving rolls of "Modern" BU Indian cents, Seated coinage, and Morgan dollars sure look like fools today.

Baley · March 25, 2003 12:14AM

people back in the 1870s who were saving rolls of "Modern" BU Indian cents, Seated coinage, and Morgan dollars sure look like fools today.

heh, do you really think this is a good argument for saving modern coins in bulk?

If you can't think of any the many many reasons that strategy is fallacious, I dont know what to say!

Still, in 130+ years, I guess anything could happen; call me in the 2130's and let me know!

I still think the supply/demand function for older, scarcer coins is more favorable.

Barry · March 25, 2003 12:21AM

I wouldn't exactly call it a fad. I'd call it a bit of a throwback to the pre-clad days, when one could collect from circulation. What is a fad, and just plain dumb, for anyone who thinks they will hold their value or even appreciate, is playing the numbers/slab game with moderns. It's great for the slabbers, as it opened up a virtually unlimited source of new coins for them. For the slabee, it's another story.

nucklehead · March 25, 2003 12:28AM

"State quarters a fad?" yes.

baccaruda · March 25, 2003 12:53AM

I don't think you can knock SQ collectors any more than those who saved coins 130 years ago. Morgans are anything but rare - they're all over the place. The last time I checked they sell for a bit more than face value.

I saw a guy selling original BU rolls of Washington Quarters from the 40s and 50s. He had rolls of every mintmark, every year. These things looked very original too. He was getting $300-$500 per roll. What a fool. Saving those worthless modern coins when silver will NEVER be worth more than $1/ounce.

I'm not advocating saving modern coins in bulk. I collect them only because I like them. But you can't pretend to know what the future will hold as far as value. Generally the things that eventually become valuable are the things people least expected to become valuable.

MapMaker · March 25, 2003 1:43AM

Geoman

Twin Ports Coin Club

I would like to know where you live that you can get both "P" & "D" mint rolls from the same bank? I can only get "D" rolls at my western banks.

Also think Statehood Quarters are a great boon to our hobby but will be a great dissapointment to anyone who expects to make a profit long term.

Advise: Collect one set and get out of the fast fad cycles when any State Quarter item booms as I think they are being manipulated in cycles.

GOOD LUCK AND HAVE AS MUCH FUN AS I DO.

hookooekoo · March 25, 2003 1:53AM

people back in the 1870s who were saving rolls of "Modern" BU Indian cents, Seated coinage, and Morgan dollars sure look like fools today.

There are two key points that make things much different today...

1. Coins minted 50 to 150 years ago number in the millions (i.e. 25 million of coin X were minted in the year YYYY). State Quarters are being minted in the hundreds of millions (adding P & D mint marks, I think over a BILLION Virginia quarters were minted).

2. Because it is something new and different, a large number of people are hording a lot of State Quarters. The mint was force to increase the amount of State Quarters they were producing to account for all the coins people where keeping and not spending.

If I recall correctly, it is easier (and therefore cheaper) to find nice Washington quarters dated 1932 (first year of issue). However, it is more difficult to find as many nice Washington quarters from other 193x dates. The reason being that later 193x quarters were just like the 1932 quarter, so there wasn't anything facinating about them for the general population to want to keep them.

With the State Quarter program, each new state is something new, so the general poplulation is facinated by the changes and keeps holding on to new State Quarters as they come allong. Add to that fact that the coins are being produced in the hundreds of millions, they will continue to be very common (i.e. cheap) even in high grades for decades to come.

The only thing that has become something of a rarity in the State Quarter program is the Silver Proof sets. Some years, less than one million silver proof sets were minted. But now, there seems to be over a million people to want to collect them. The result, 1999 Silver Proof Sets are almost $200, while more recent silver proof sets (some with mintages close to 2 million) are closer to the $50 mark.

In the end, it will all come down to the old law of SUPPLY AND DEMAND. My guess is that the supply of state quarters will always be high. The real question is will the demand increase or decrease in the future.

nucklehead · March 25, 2003 2:04AM

<< <i>I don't think you can knock SQ collectors any more than those who saved coins 130 years ago. Morgans are anything but rare - they're all over the place. The last time I checked they sell for a bit more than face value.

HOLY MOLY!! PLEASE tell me where I can buy Morgans for a bit more than face value!

baccaruda · March 25, 2003 2:07AM

i was being slightly sarcastic in saying it was worth saving morgans when they were "moderns" even though they minted billions of em.

Baley · March 25, 2003 2:23AM

and now you're exaggerating slightly in saying they minted "billions" of Morgans.

ursabear · March 25, 2003 2:57AM

Trivia question:
What modern coin(s) (made in the last three years) has/have a mintage of just over 7 million, and is/are very difficult to find in grades better than MS66?

Mintage is a poor argument for collectability or future value. Personal desire, interest, supply and demand are the only true factors to the value of any posessable thing.

Baley · March 25, 2003 3:11AM

All I know is that if I want a state quarter, I look in my pocket. If I want a high grade one, a few clicks and a few dollars and one is mine. If I want a super duper high grade one, a few clicks and a few more dollars and they're available all day long, and the same is true for any coin minted in the past 50 years.

(insert obligatory argument for rare moderns here, referring to one or more of: very scarce off metal errors, conditional rarities that are abundant in BU but rare in MS 67 and up, rare and obscure varieties, etc. these exceptions serve to prove the general point, that there are a LOT of modern coins extant)

My opinion is that state quarters are and will continue to be very available. But increasingly, if I want a decent looking 1806 or 1822 or 1849 quarter, I'm going to have to search high and low for one of the few out there, take whatever grade i can afford, and compete with one of the many many new collectors who desire one of these older coins for their type sets.

damn straight it's all about supply and demand and personal interests and desires!

Steve27 · March 25, 2003 3:16AM

ursabear,

Kennedys and Sacagaweas, too bad you can't buy them at face value.

keets · March 25, 2003 3:25AM

i really don't think anyone will win in the state quarter high grade slab game except the person who slabs the MS68-69 coins and sells them at the earliest point after each release. that's where the highest prices are realized. as so many point out in discussion of these coins, there are just to many made to believe an MS68-69 pop won't grow over time for any of the coins.

are they a fad?? probably. interest in the coins will be steady through at least 2008, longer if more are authorized for U.S. possessions. a long term fad to be sure, but we'll all benefit from the influx of new collectors. i imagine that over a period of time after the series ends we'll see a gradual entering of the coins into circulation. how do you think that will affect subsequent non-State Quarter issues?? i also wonder how the program will affect pre-1999 quarters. these are things the next generation of collectors can study over.

what a great hobby!!

al h.

baccaruda · March 25, 2003 3:32AM

But increasingly, if I want a decent looking 1806 or 1822 or 1849 quarter

That's the key phrase there. "if I want". compare the number of people collecting state quarters to the number of people that want, or can afford, an 1806 quarter.

Steve27 · March 25, 2003 3:44AM

State Qs will always be valuable as grade rarities, but anyone collecting MS coins in a map or album will be sadly disappointed if they think that the set will be worth more than slightly over face value in the future (too much supply). The only opportunity for real growth in value will be if one of the map manufacturers uses a compound which causes the coins to tone nicely.

Nysoto · March 25, 2003 4:21AM

I collect state quarters with my daughters, I think they are great. We have never spent more than face value and have some very nice coins. It is great to see interesting coins in circulation again. Investment is not a consideration, just having fun and learning more about geography and history with my daughters.

baccaruda · March 25, 2003 4:25AM

that's what it's all about Nysoto.

dalbert · March 25, 2003 9:52AM

To everyone who has replied, thank you. As the post says, I'm a new collector (both on the boards and relatively in actual collecting as I haven't been into it more than 6 months), and I'm pretty much still learning a lot of the ropes. The state quarter series just hit me though, and why people on ebay pay as much as 1000 dollars for one of them.

I have a few, but none higher than MS 66. I got them because I liked them, and I got them slabbed because as per the advice of the books I read, to get slabbed coins when you arent sure (and I wasn't). I guess now that I more or less know what to look out for, I'll think twice about the slabs.

mrcommem · March 25, 2003 3:49PM

State quarters will be hot at least until 2008 when the series ends.

DCAMFranklin · March 25, 2003 4:14PM

Well, I guess I am a bit of a contrarian here. I truly believe the Silver proof coins in PCGS PR-69 DCAM and NGC PR-70 UCAM will be well collected. I really like the '99 sets at today's prices. I'll sound a little like the pitchman on Shop At Home, but I really believe that a lot of people (little or no prior experience collecting) have to have their own state's coin firmly in their hand before they get excited about the program. Therefore, when big states like Texas and California bring their coins out, then I believe a LOT of additional demand will hit the market. After obtaining the 5 coins from their state's introduction year, the first place they will go is to grab that '99 set!! That much additional demand will create some nice price increases.

I'm not very optimistic about the business strike coins, unless you put them together in MS-68. The coins in their cheap alloy have very little eye appeal. I'm a really big believer in eye appeal providing value. Those Silver proof coins in ultra-high grade DCAM have a lot of eye appeal and a somewhat limited supply.

michael · March 25, 2003 4:29PM

for me state quarters are not a fad

but

i think anyone who buys already made super high grade state quarter slabs and holds them where the coin is worth substancially less outside of the holder raw then in the holder

is a stronger willed person then i am

and maybe they might know something i do not????????

but be that as it may

1 only buy coins for fun and a hobby
2 use only discretionary funds, money you can afford to lose

i think no matter waht you buy with coins if you follow one and two you will never go wrong!

sincerely michael

michael · March 26, 2003 3:52PM

also know waht you are looking at and deside for yourself

sincerely michael

cladking · March 29, 2003 5:38AM

The high mintages of the states coins will keep them in circulation for many years.
These will circulate until they become obsolete or until they wear out. It may be
possible to put together AG sets from circulation in 50 years.

The Tennessee quarter is selling for a significant premium now because large num-
bers of people have come to believe that these coins are of limited appeal and not
enough have been set aside. There are likely to be more surprises in store before
this long program is over.

The popularity of these coins is causing stronger demand and higher prices of rare
coins. Nowhere is this seen more strongly than in the moderns. As the moderns be-
come more appreciated there will be some spillover back into the states issues.

APA1709 · March 29, 2003 8:30AM

I agree with cladking when he said...There are likely to be more surprises in store before this long program is over. As for me, I use to collect proof, silver proof and clad. I have changed to primarily silver proof only. I plan to continue to buy a couple hundred silver proof sets per year, of course in that quantity, it is also for investment. When you look at the total mintages, the silver proofs are significantly lower, as you all know. So, over time, I expect the silver proofs to rise short term and stay high in price over long term....i.e., a great investment and they of course have the most eye appeal.

State Quarters a fad?

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