Buying pre-1965 coins

[Josh.]

What would you all recommend in terms of which coins to buy (online, where you can't see the actual coins)? Dimes kind of scare me off as I would imagine them to have more wear meaning every $1 may be lower than the normal "circulated" .715 toz. Halves sound the best by far from that perspective. And better condition can never hurt even aside from the weight consideration. However, their value is not as easily divisible (~$10 vs. ~$2).

Would a majority of halves and a lesser amount of quarters and dimes make sense? Like 80%, 10%, 10%? Also, with what I'm looking into, there is the possibility of getting some older coins mixed in (Franklins, Walkers, Mercs, etc.). This doesn't really affect my decision at this point, but maybe some of you could give me a tip if you think it should.

Thanks.

[DebtFreeMe]

I would purchase them by weight rather than denomination if you're not sure on the ware on the coins.

Some people like to buy the smaller coins, i.e. dimes, because you can purchase them in less costly lots. Just depends on what you like personally.

[shinnosuke]

Josh, why are you buying pre-1965 silver coins? Do you believe that some day they will be used again as actual currency? Do you want them merely as an investment? Your goal may help you determine the best option.

It's my belief that silver coins will be used in everyday transactions. When that happens, the dime will have more purchasing power than it does now. (Currently, it's a $2 bill if you trade with the right person.) For that reason, I am 50% dimes, with the rest divided fairly evenly between quarters and halves.

It will be interesting to see everyone's opinion. Good question.

[Z00]

I go with Roosevelts because of the lesser wear than earlier ones. However they do seem to have the higher potential for wear than halfs. I am not sure about quarters.
Has anyone done a check by weight on a significant sample of the different ones?

[Josh.]

Thanks, DebtFreeMe. The item listing is presented as both $ FV and .715 toz. I asked a rep and was told that "over time" I would average .715.

Shinnosuke, I don't know what to say about future transactions, but it seems possible. Mainly, I'm thinking of acquiring silver to preserve buying power, but if the coins themselves end up being useful for purchasing, then that's just an added bonus (well, unless that means something nasty has occurred to get us to that point, but you get the idea). I should also say that aside from a silver economy, or perhaps a "parabolic" rise in silver, once I get it I'm not intending to sell for a matter of decades. Of course, I don't know whether that will end up panning out, but it's my intent. Thanks for your thoughts.

And thanks for the recommendation, Z00.

[beauanderos]

Stick with Kennedy or Franklin halves and Rosie dimes, they should be full wt (715 or more) as would be Washington quarters from 1950 on. When you buy online you can't be too sure what you'll get... unless you buy solid 1964 rolls (which will cost you more)

[Josh.]

Is it worth it to pay ~$0.04 more per $1 FV (so ~$0.055 per toz) to get Franklins instead of Kennedys?

[fb101]

IF you like franklins it is.

[Chief]

Kennedys should have less wear, but again, which is your preference?

[Josh.]

Thanks for the input, guys. Right, Kennedys would probably be in better condition. So numismatically speaking, there is no real upgrade in value (at the present time). I guess that would make sense since Kennedys would be '64 and Franklins would probably be mostly later dates. Any buck or two gained from earlier dates might be offset by their general worse appearance. Cost is about 0.15% more (if you catch it at the right time it's $0.03 tacked on per $1 FV), but appearance goes down the drain. The real (potential) benefit that I can think of is that they should be more easily accepted as silver, should the need to trade with them come up. I'd guess that the acceptance of '64 Kennedys would not come quite as easily. But what do I know?

[Josh.]

If a merc has its date worn off is it still worth $2 because of the silver? Thanks.

[jacer333]

If a merc has its date worn off is it still worth $2 because of the silver? Thanks.

Yes, even coins that appear very worn will still hold onto ~90% of their metal content. With one that just has a date off, the wear probably isn't too bad.

[Josh.]

If a merc has its date worn off is it still worth $2 because of the silver? Thanks.

Yes, even coins that appear very worn will still hold onto ~90% of their metal content. With one that just has a date off, the wear probably isn't too bad.

Thanks, jacer. Just trying to build up a little knowledge base here before making a purchase that might come back to bite me.

So normal circulated coins have .715 toz (~1.2% lost) per $1. A well-worn merc collection would lose up to about 10%.

I saw a decent merc deal available and was told at least 90%, or maybe nearly all, have readable dates. It's anyone's guess at this point, of course, but does a 2.0 - 3.0% weight reduction sound like a decent estimate here?

Edit: I misread your post. Fixed up my post based on that.

[wagsthadog]

Hi there-

In my experiences, don't pass up or overlook anything if it comes along at a good price. I've ordered lots of quarters and mercs that I expected to be god awful but actually turned out to be pretty nice, with no issues whatsoever, and I've ordered lots of '50's-60's' 90% that turned out to be beat up.

I guess the moral of the story is that as long as you buy at low premiums and pounce on good deals, and not worry so much about what 90% type you're buying, you'll find that everything will balance out nicely. Try not to get hung up on ONLY buying one type of coin. You'll miss out on a lot-

JMO, wags

[rickygee]

One thing you might consider, for what it's worth, Rosies and Washington quarters come in 90% and cupronickel. Kennedys come in 90%, 40% and clad. With the older coins, Mercs, Standing Libertys, Walkers, Franklins you know at a glance they are 90%. Some can be rather worn. Of course if push comes to shove most everyone will know what's silver and what's not.

I've got a few Barber dime slicks and you talk about the old saying: "One thin dime"! But at a glance you know they're silver err silver foil.