Here is a story for you...

[matthews2k4]

Ok this is a true story. I would like to hear from other members if this actually happened to them or anyone they know.
I did not find this by metal detecting but this incident did light my fire to start digging and collecting coins.
A co-worker and I were talking about the possibility of coin collecting and the hobby of metal detecting. just as i made a comment about checking the "change in your pocket cause you never know what you will find", a third co-worker walked up behind me (because clearly he was eves dropping) with a wad full of change and said, "what about this?" And I ****-you-not, he pulled out a 1903 Indian head cent!
Obviously I immediately bought it off him for like 2 bucks because I had to have it to start my collection. And he didn't care because he just made 2 bucks...
So how likely is it that this coin has been through many hands and ended up in someone's pocket change?
Anyway, I thought I would post this cool story and get some replies...

 

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[Iron Patch]

Not from pocket change, but is similar to something I often think about when buying coins, and that is.... How does a rare coin that can be 100 years old, 200, or even older, still get sold (usually hidden in a group) in today's world without having been previously discovered. Obviously there's several reasons, but I always wonder the path it took before it finally ended up in the hands of the buyer who finally recognized it for what it was. It still happens now, but can't imagine how much it did before the internet was around.

 

[DeepseekerADS]

I'd been "collecting" coins since childhood, but in 1980 I began seriously as an investor.

I bought two beautiful uncirculated coins, one what was sold to me as an MS-65 Standing Liberty, and one was a very nice Brilliant Uncirculated Indian Head. Before purchasing, I inspected both with an eye scope and agreed on the conditions.

30 years later, not having kept up with values I went to a coin show and showed both pieces to separate dealers.

One dealer said of the Indian Head that it had been cleaned. Afterwards, I sent it off to be graded, and it was returned graded as AU-58 cleaned. I couldn't see it, but had to agree with ANS grading on that. So, I'd been ripped off by the dealer when purchasing it.

Another dealer said the that Standing Liberty had been circulated and stated it was AU-55. So, on that note, either the dealer who sold it to me, or the dealer at the coin show were trying to rip me off.

Moral of the story, let the buyer beware. Collecting is a pros game if doing it for investment, and corruption lurks all around. In their other pass times, dealers must be politicians......

Let the buyer beware.

 

[matthews2k4]

Thanks for the info ADS!

 

[woodstock]

I think I have the most logical answer to your question . I've collected coins for years even before I started detecting and every year I noticed a "trend" or a time of the year that I would find all different types of older collectible coins and that was in November and December. So I think that those rare and hard to find "change keeper's" were the result of people or mostly kid's digging around the house and in their parents drawers looking for money to spend on gifts . They have no idea the value of what their spending . My oldest son (now 31) took a rare Barber Quarter 1890 -0 if I remember right in excellent condition to spend on candy ! He wasn't more than 6 at the time and it was partially my fault because I left it where little hands could find it .
And there's one more reason as well . Thief's whom burglarize homes haven't cared or have no idea what they have except it's spending money for whatever they need . Most people don't even look at the change they spend and it slips into the system until it's rediscovered but one who know's what it really is ..... IMHO , Woodstock

 

[matthews2k4]

That makes perfect sense Woodstock. I've never thought of those reasons. I guess I should hide my collection from the kids! Thanks for the info...

 

[hamiddetecting]

 

[DigitNY]

Ok this is a true story. I would like to hear from other members if this actually happened to them or anyone they know.
I did not find this by metal detecting but this incident did light my fire to start digging and collecting coins.
A co-worker and I were talking about the possibility of coin collecting and the hobby of metal detecting. just as i made a comment about checking the "change in your pocket cause you never know what you will find", a third co-worker walked up behind me (because clearly he was eves dropping) with a wad full of change and said, "what about this?" And I ****-you-not, he pulled out a 1903 Indian head cent!
Obviously I immediately bought it off him for like 2 bucks because I had to have it to start my collection. And he didn't care because he just made 2 bucks...
So how likely is it that this coin has been through many hands and ended up in someone's pocket change?
Anyway, I thought I would post this cool story and get some replies...

<img src="http://www.treasurenet.com/forums/attachment.php?attachmentid=760722"/>

Strange how some people are so willing to just give up an Indian head so old?? Not that I don't believe you, not saying that.. You would just think he may want to look into it himself You never can tell I guess...very strange... Good luck in your future coin hunting.. Looks like your off to a great start !!!

 

[DigitNY]

I'd been "collecting" coins since childhood, but in 1980 I began seriously as an investor.

I bought two beautiful uncirculated coins, one what was sold to me as an MS-65 Standing Liberty, and one was a very nice Brilliant Uncirculated Indian Head. Before purchasing, I inspected both with an eye scope and agreed on the conditions.

30 years later, not having kept up with values I went to a coin show and showed both pieces to separate dealers.

One dealer said of the Indian Head that it had been cleaned. Afterwards, I sent it off to be graded, and it was returned graded as AU-58 cleaned. I couldn't see it, but had to agree with ANS grading on that. So, I'd been ripped off by the dealer when purchasing it.

Another dealer said the that Standing Liberty had been circulated and stated it was AU-55. So, on that note, either the dealer who sold it to me, or the dealer at the coin show were trying to rip me off.

Moral of the story, let the buyer beware. Collecting is a pros game if doing it for investment, and corruption lurks all around. In their other pass times, dealers must be politicians......

Let the buyer beware.

So true, so true. Unfortunately... I will stick to what comes out of the ground, much safer that way, I can't complain to anyone either.... Lol

 

[JWoodruff]

I got some change back at the store one day and when the cashier dropped it on the counter I noticed something didn't sound right. I looked at the change and there was a 64 quarter. I asked if he had any more that old or older in the drawer. I scored over 20 silver quarters at face value ranging from 1938-1964.

 

[mcb]

Id say very likely but if it's happened to me I wouldn't know. I'm not knowledgeable about coin collecting but you have me thinking now ha! My hubby and I toss our loose change in an old ceramic planter I'll have to go through. My grandpa gave me a huge container of old coins with a slew of $2 bills. I never gave either much thought because I've always heard people say coin collecting isn't really worth much (no disrespect). Even the coins I've found md I never gave much thought to. I found one last year that's an Indian head except I've never read a post about it or seen one like it. This one has feathers that point straight up with V notches instead of falling down like the Buffalo heads. Can you guide me as to how I'd even know a coin of value from a common coin? Another thing ... when I turned in a load of coins at my bank the teller said it was nice because a guy comes in and exchanges coins for the ones I was turning in. She didn't say she keeps them for whoever it is but I'm assuming she does. The coins she singled out were fifty cent pieces and dollar coins. I'm thinking I screwed myself :/

 

[vandaria]

When I worked as a cashier at Home Depot I was giving change to a customer and right before I placed it into their hand I caught the sight of a 1868 IH, and that is how I got my first IH lol So yes some times they are still in circulation =)

 

[Joshr29]

Id say very likely but if it's happened to me I wouldn't know. I'm not knowledgeable about coin collecting but you have me thinking now ha! My hubby and I toss our loose change in an old ceramic planter I'll have to go through. My grandpa gave me a huge container of old coins with a slew of $2 bills. I never gave either much thought because I've always heard people say coin collecting isn't really worth much (no disrespect). Even the coins I've found md I never gave much thought to. I found one last year that's an Indian head except I've never read a post about it or seen one like it. This one has feathers that point straight up with V notches instead of falling down like the Buffalo heads. Can you guide me as to how I'd even know a coin of value from a common coin? Another thing ... when I turned in a load of coins at my bank the teller said it was nice because a guy comes in and exchanges coins for the ones I was turning in. She didn't say she keeps them for whoever it is but I'm assuming she does. The coins she singled out were fifty cent pieces and dollar coins. I'm thinking I screwed myself :/

Very good chance you did. If somebody was actively going after your dumps then there was probably some silver at least. Sorry.

 

[fishinmcc]

Ouch

fishinmcc muncie indiana TreasureNet

 

[DigitNY]

When I worked as a cashier at Home Depot I was giving change to a customer and right before I placed it into their hand I caught the sight of a 1868 IH, and that is how I got my first IH lol So yes some times they are still in circulation =)

Gotta be pretty desperate to have to use a coin like that. Not like your not gonna know..your super lucky.

 

[Old Dude]

I got some change back at the store one day and when the cashier dropped it on the counter I noticed something didn't sound right. I looked at the change and there was a 64 quarter. I asked if he had any more that old or older in the drawer. I scored over 20 silver quarters at face value ranging from 1938-1964.

Same thing happened to me. The cashier ( a young fellow ) said " They used to make coins from silver?" . He acted like I should give the quarter back to him, lol!

Happy Hunting!

 

[JWoodruff]

Same thing happened to me. The cashier ( a young fellow ) said " They used to make coins from silver?" . He acted like I should give the quarter back to him, lol!

Happy Hunting!

It was an older guy that I got mine from. He said his boss didn't let them exchange the money for themselves. I went back several times but never scored anymore....HH!