Coin Collecting For Fun and Profit 1963 to present
HalfStrike
Posts: 2,202 ✭✭✭
I happened to find this book by the editors for Coin World printed back in 1964. Parts of it are interesting as it seems to be when mintages took off for many coins from the mint, and it does have a few points that I find interesting with some analysis.
The most interesting part is a section on coins as an investment.
It states, paraphrasing;
Coins as an investment are a new facet of the hobby, the few 1000 people who collected over the past few decades [prior to 1964] did not discount the investment potential but thought of it as secondary.
Then suddenly, Zoom! Within a few months in 1963 it became apparent that coins could be Big Business!
The supposed "coin shortage" of 1962 helped this along, and it took some coins to high valuations.
It also adds that new technology made collecting more interesting and rapid [back then they say teletypes, newspapers and newsletter] today it is the internet.
Possible similarities?
2009 we are having bullion coin shortages that look like 1962?
Now in this book are interesting advertisements that list the great investment potential of coin rolls. It says to invest $500 and they will pick what rolls to send you back as an "investment".
It boasts the following returns on coin roll "investments".
August 10, 1962 price per roll.................................October 1 1963 price per roll
1960 P small date cent...$130..................................................$450
1950 P nickel...................$60....................................................$200
1950D nickel....................$420..................................................$800
1955D Quarter.................$42.50...............................................$140
There is actually a long list of about 25 and all have doubled, tripled or done even better.
Just looking at the prices it appears this rolls have not gone up in price from those 1963 levels after 45 years except for the quarters?
In the meat of the book is this;
If a person beginning in 1909 and continuing through 1934 had saved one roll of cents of each date and mintmark, face value for the 71 rolls is $35.50. Current market value in 1964 was over $115,000!
They do this also for buffalo nickels from 1913 to 1938, roll cost of $128 and was worth $160,000 in 1964.
It adds an uncirculated 1796 half dollar was worth $1500 in 1956, in 1964 was worth over $10,000.
It does have some advice on classic coins back then, for example it mentions the half cents of 1793 to 1797 being "cheap".
It also warns of the pre-Christmas 1962 release of bags of New Orleans minted silver dollars. The 1903-O dollar dropped in price from $1500 to $15 in 45 days.
Auctions results have someone paying $2250 for a 1879 Stella in 1962, $4000 for a 1870CC $20 gold, and $4250 for the 1930S $10 gold.
I still have to go over this book more but some "investments" back then did do awesome, ans some flamed out terribly as we know.
The most interesting part is a section on coins as an investment.
It states, paraphrasing;
Coins as an investment are a new facet of the hobby, the few 1000 people who collected over the past few decades [prior to 1964] did not discount the investment potential but thought of it as secondary.
Then suddenly, Zoom! Within a few months in 1963 it became apparent that coins could be Big Business!
The supposed "coin shortage" of 1962 helped this along, and it took some coins to high valuations.
It also adds that new technology made collecting more interesting and rapid [back then they say teletypes, newspapers and newsletter] today it is the internet.
Possible similarities?
2009 we are having bullion coin shortages that look like 1962?
Now in this book are interesting advertisements that list the great investment potential of coin rolls. It says to invest $500 and they will pick what rolls to send you back as an "investment".
It boasts the following returns on coin roll "investments".
August 10, 1962 price per roll.................................October 1 1963 price per roll
1960 P small date cent...$130..................................................$450
1950 P nickel...................$60....................................................$200
1950D nickel....................$420..................................................$800
1955D Quarter.................$42.50...............................................$140
There is actually a long list of about 25 and all have doubled, tripled or done even better.
Just looking at the prices it appears this rolls have not gone up in price from those 1963 levels after 45 years except for the quarters?
In the meat of the book is this;
If a person beginning in 1909 and continuing through 1934 had saved one roll of cents of each date and mintmark, face value for the 71 rolls is $35.50. Current market value in 1964 was over $115,000!
They do this also for buffalo nickels from 1913 to 1938, roll cost of $128 and was worth $160,000 in 1964.
It adds an uncirculated 1796 half dollar was worth $1500 in 1956, in 1964 was worth over $10,000.
It does have some advice on classic coins back then, for example it mentions the half cents of 1793 to 1797 being "cheap".
It also warns of the pre-Christmas 1962 release of bags of New Orleans minted silver dollars. The 1903-O dollar dropped in price from $1500 to $15 in 45 days.
Auctions results have someone paying $2250 for a 1879 Stella in 1962, $4000 for a 1870CC $20 gold, and $4250 for the 1930S $10 gold.
I still have to go over this book more but some "investments" back then did do awesome, ans some flamed out terribly as we know.
0
Comments
1. I buy what I like and lose money
2. I buy mistakes and lose money.
3. I buy nice coins and lose money.
4. I buy SCD and lose money.
Follow my rule of buy hi and sell lo
and you too can lose money. System
is guaranteed, 100% effective.
Camelot
<< <i>
<< <i>2008 and 2009 we are having coin shortages that look like 1962? >>
It's the opposite... in 1962 the mint was producing as many coins as they could because of a shortage of coins in circulation (one reason was the rise in popularity of vending machines). Right now mintages are down, and coins aren't being released, due to, I guess, too many coins in circulation already. >>
Yes it seems that way so I edited my post, I should have said bullion coin shortage. The mint has stopped many bullion products in 2009 and demand is higher than supply, thus a "shortage".
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
<< <i>Coins are a hobby for me... I have never sold a coin. I do not collect for profit, I collect for enjoyment. Cheers, RickO >>
Me too !
......I collect old stuff......
Hoard the keys.
<< <i>
<< <i>Coins are a hobby for me... I have never sold a coin. I do not collect for profit, I collect for enjoyment. Cheers, RickO >>
Me too ! >>
I'm with you guys, but I may sell (for the first time) my collection before I kick it (hopefully not too soon). None of my kids are the least bit interested