Lincoln Cent (Wheat Reverse), 1941 1C, BN, PCGS MS66+BN. Click image to enlarge.
Where Did All the Old Coins Go?
so, what happened ? Have all those old coins good vanished into obliviousness ? And possibly more importantly, what ’ s left to collect in circulation nowadays ?
It can seem to many collectors that all the coins we now regard as “ vintage ” all but vanished from circulation a generation or two ago. As the United States Mint produces new coins, they replace older ones that age out of circulation through obliterating wear, collector intervention ( I.E., they ’ re intentionally plucked from the violent by astute numismatists ), or other forms of attrition. many are sadly lost to the hands of time – they ’ rhenium buried, stolen, or destroyed by fire or other natural disasters. The latter particularly exemplifies why collectors shouldn ’ triiodothyronine get excessively fixated on coinage numbers when determining how “ rare ” a mint is ; reading population reports, such as the ones found on PCGS CoinFacts, is a far better way to gauge the real scarcity of a coin.
Walking Liberty Half Dollar, 1934 50C, PCGS MS68. Click image to enlarge.
Those who look back to an earlier fourth dimension, such as the mid-20th century, and long for the coin finds of yore may recall the great mint dearth of the early 1960s and the public run on circulating silver neologism that helped cause it. The put was 1963, and silver medal had good pushed to $ 1.29 an ounce – the target at which the ash grey in 90 % silver circle coins was worth more than their respective face values. Many of the folks who routinely pulled silver circulating coins from circulation weren ’ t necessarily collectors – they were bullion stackers keenly aware that silver coins had become more valuable as bullion than as circulating money. This site helped siphon a big many vintage flatware coins from circulation .
Searching for Change
The United States Mint dropped deluges of fresh base-metal coins that were less expensive to produce into circulation, filling voids in department of commerce amid the coin deficit of the time. As silver increased in measure, many of the silver coins that remained in circulation were snapped up by the public, and along with these coins went most of the remaining base-metal vintage coins, including indian Head Cents and Buffalo Nickels, which were already waning from the circulation fit anyhow ascribable to across-the-board clothing .
Some collectors will say the last of the authoritative coins disappeared from circulation by the early 1980s. however, Lincoln Wheat Cents placid make episodic cameo appearances in air pocket change, and some lucky collectors still strike silver during rolls searches and fortunate change drops from vending machines.
Of course, there ’ sulfur nothing very scientific about these general observations. One thing to remember is that, for many of us, the aura of nostalgia constantly makes past appear a little better than it in truth may have been. And, besides, who ’ s to stop person from peppering circulation with a few old-time rarities today ? There have been some much-publicized coin drops in holocene years involving collectors and dealers stocking general circulation with valuable pieces, and there ’ s no telling how many numismatic good Samaritans discreetly do this kind of thing day to day merely because .
Though coverage of this topic does beg the rhetorical motion : what ’ sulfur left for collectors who want to make desirable finds in circulation nowadays ? The literal solution may be delightfully more complex than some would expect .
The Quest for Rarities
many would argue there was a classify of lull in circulation finds throughout the early on 1970s through mid-1990s. With the exceptions of the 1976 Bicentennial coin course of study and the release of the Susan B. Anthony Dollar in 1979, there was relatively little in the room of regular-issue United States circulating neologism to get excited about for a generation. then along came the 50 State Quarters broadcast in 1999, and the United States Mint has been on a blitz creating a diverse array of exciting raw coins ever since .
While by and large worth confront value in circulate grades, these mod United States coin initiatives give collectors a virtually dateless array of fun set-building objectives, while uncirculated and proof versions of these coins ( including their precious-metal variants ) offer a tantalizing academic degree of numismatic and fiscal challenge for collectors building PCGS Registry Sets encompassing these newly coins.
Washington America the Beautiful Quarters, 2019-W 25C Lowell NP First Week of Discovery, PCGS MS66. Click image to enlarge.
meanwhile, the United States Mint has more recently endeavored on creating alleged “ circulating rarities, ” or limited-mintage coins that can only be found in circulation. Among the most popular of these have been the W-Quarters, or America The Beautiful Quarters struck to the tune of just 2 million pieces each at the West Point Mint. These scarce quarters, bearing the “ W ” mintmark and in some cases other distinctive features, are worth more than face value even in circulate grades. And those who have submitted First Discovery pieces to PCGS can earn meaning cash bounties and limited-edition PCGS Special Labels .
And don ’ thyroxine forget about error coins and die varieties. These oddities include double over dies, repunched mintmarks, and die breaks. These perennially cool pieces never go out of fashion and they can be quite rare and valuable, besides. possibly best of all ? Quirky coins like these frequently go completely unnoticed by non-collectors and even many diehard coin collectors, giving eagle-eyed cherrypickers the opportunity to locate these absorbing mistake coins and varieties in circulation at confront value .