Silver has been a primary ingredient in quarters ever since
their introduction as money in 1796. Usually they contained
around 90% of it using another metal for hardness and
durability. The designs have changed a few times but the
silver was always there. In 1965 that changed. The clad
composition coin was a coin made from materials that were not
truly worth the coin's represented denomination. The metal value was,
maybe, 4 cents. It consisted of 75% copper and 25% nickel bonded to a
pure nickel core.
That's what my "Coin Prices" magazine tells me. This coin is
harder and much more durable than the Silver/Copper coins of
old. I found it interesting that just prior to the release of
the "clad" coin that the U.S. Mint printed a huge amount of the old
silver composition coins, namely the 1964 P&D. Their total
was around 1.26 Billion coins. The 1963 the P&D issues totaled
a mere 202+ MILLION coins, a big difference. Now, what I'm
baffled about is this; the mint had to have some idea that
there was a metal change in the imminent future and silver
coins were on their way out. Hoarding was bound to commence
after the announcement of clad coins in the future and the
discontinuing of all silver coins by 1970
(the half dollar
had been reduced to 40% Si 65-69). Why mint so many silver
coins in '64 knowing they would just flat out disappear in a
year or two at best? When the government allowed the melting
of silver coins to recover the silver and also allowed the
private mintsto make nearly pure bullion ingots, the mintage
figures had little or no bearing on a coin's availability.
Existing coin numbers for all silver coinage changed
drastically. Only extremely rare silver coins and high
quality average coinage survived the melting pots of private
enterprise. Now, all this history does is set the scene for
the next series of bizzare events in the world of the
quarter dollar.
It's finally the year 2000. Last year coin collecting
was given a shot in the arm. Statehood Coinage. Every state
will have a quarter with a design pertaining to and appropo
to that state. It will have some words probably a state
motto paying tribute to it. I think the concept is great.
It has revitalized coin collecting. I was relieved that the
mint did not mint a zillion 1998 quarters prior to their
release reminiscient to the way they handled the silver to
clad transition in 1964 . I am amazed that the Delaware coinage,
a current coin made for usage now, has already become scarce and
already commands a premium. A current issue coin, the delaware
coin costs up to $70 for a $10 roll and single UNC issues are
fetching $3-$4 EACH. I was "lucky" to get a few rolls of each
mintmark for "only" $15 a roll. I could make $35 to $55 profit,
yes profit, from each roll. I guess I should have bought a
hundred of each or maybe 500 of each. I got distracted though
and forgot to buy a like amount of the Pensylvania P&D, New
Jersey P&D, Georgia P&D and Connecticut P&D. What a dope I was.
The Pennsylvania issues are worth as much as the Delaware's.
The New Jersey Denver mint was the lowest of the 10 regular
issues at 299+Million and gets $50+ per roll. I was just lucky
to get even one roll of Connecticut P for only $17.95. A BU set
of all 5 issues and both mints (10 coins) is valued (or at least
COSTS) around $25 to $35, depending on the coin dealer. He might
throw in a couple of 5 holed hard plastic cases, specially made
for the year set or only charge around $0.50. Now before I get
to the heart of this rant, anyone who wants a BU hand picked set
of regular issue statehood quarters can get all 10 from the mint
for only $14.95 +$3.95 SH phone order, mail, or check. Online
using a credit card saves S&H costs. Oh, and you also get them in
a mint sealed mylar package along with another package containing
the penny, nickle, dime, and half dollar from each mint, too.
That's only $14.95 for 18 BU coins. I may be wrong but that seems
like a great deal. That's why I'm getting 10 sets that I may sell
in pieces to make a profit or to give to people to impress them
with an "extravagant" gift. They probably will think I paid a
lot for these "scarce" coins. Now to the heart of my rant.
A coin is valuable if someone wants it and there are any to be had.
This "supply & demand" system has held true throughout the ages,
and not just with coins. If you WANT it you will pay.
Apparently everyone WANTS statehood quarters and not just 1 or two
of each. It seems that people are getting them by the rolls. They
are becoming hard to get. Why is this? Are there so few minted of
each coin that there isn't enough to go around? I don't think so.
It appears that each mint P or D minted more than enough so each
person in the United States could have at least one coin of each
of the first five varieties. I mean every child, teenager, & adult
in the entire United States, excluding the New Jersey D since they
only made 299+Million. I don't have the Census report for 1999,
if there is one, but I guess we may be up to 300Miooion strong by now.
I can only guess at how many of these common issue coins have been
swept up from circulation. I only have a hundred dollars worth myself,
but I have loved coin collecting for 40 years at the least.
My grandfather showed me a 1909-S VDB cent when I was 10 or 12 years
old. Yes, in UNC. They only minted 484 thousand of them but I've had
rared coins myself or at least could have. Last year, the total quarter
output for circulation was over 4.4 Billion Coins. That is a lot of
coins to stash away. Sure, totally new design. first since 1932,
except for the bicentenial reverse of 1976. I have no idea how many
regular collectors there are. I'm positive that they was a surge in
this number but even if every home in the USA had a COIN MAP or BOOK
with a 50 , 100, or 200 coin capability, and was dilligently putting
in the current issue as they come of the presses, we should still
have enough to use for daily, real-life usage, like making 5 minute
phone calls, or pay for 5 minutes of parking or buying a piece of
"penny" candy.Being a wannabe hardcore-collector, I toy with the idea
of owning a nice set of Statehood Quarters. If you really want to own
the best quality coinage, try R&I Coins. Get PCGS graded Proof69
Deep Cameo coins. Don't just get Mint Issued Proofs, although that's
still very easy to do. The 9 coin proof sets that come in nice hard
plastic holders can be had for only $20. What I'm talking a bout is
a collectors dream; PCGS encapsulated PROOF 69 DEEP CAMEO quarters
Yeah, I know, paying $50 a coin for 50 coins seems a little pricey
for a current issue quarter and no, they wont fit into the goofy map
stuff. They are hard to display or put in a book or vinyl sleeves.
The way I see it, everyone can have a set of quarters and that is good.
Most of those sets will be at least BU-60 some may be the ever popular
AU-50. Only a very few will be the finest possible coins. If you want
to have a distinctive and potentially valuable set get the 69DCAM coins.
These coins, even at $50 a pop are cheap. How many collectors will
own a set of flawless, spot free and haze free set of Statehood Coins?
Deep cameos, are few and far between. Rick & Gary Tomaska have to be
real genius. Sure they're making a fortune but so what? A flawless coin
for $50 is what a collector dreams of, other than actually finding one
himself. The silver issues ar only $60 for the same flawlessness, a real
deal, too. When people pull out their AU-BU "flag" sets or their Whitmans
and Dansco albums and Their Ultra Pros vinly pages with 2x2 mylars or
hard plastic cases in a school notebook binder you'll think of the PCGS
encapsulated Proof 69 DCAMS at home in your vault and say, patronizingly,
"Ohhh, now isn't that special?" And they are. You just serenly know what
you have can ONLY appreciate in value while those 4.4
billion circulation coins sit in storage around waiting to get out of
captivity and into circulation where they
belong.
Pr70-DeepCameo QUARTERS