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Gerry in Idaho

True Value Of A Coin. Whats Your Take?

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Nice story (and find), Gerry.  As you show, it's easier to put a price on an inanimate object than the value it brings overall.  You got three for the 'price' of one.  No one can ever take away the fact that you found a Morgan dollar.  What you do with it is independent of that.  Thanks for sharing and enlightening us.

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You gave this coin it’s true value Gerry. This value is perpetually increasing with the viewing of the coin and the telling of the story.

Mike

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What a great story.

Some one lost it, you found it, shared it with your dad and others and finally returned it to Mrs. Wiltz.

You simply cannot get greater value than that for one dollar...

fred

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Gerry good topic and nice story as well!

It's interesting as I don't sell any of my detecting finds, yet my main hunting partner will sell anything of value (he'd probably sell his grandmother!) except for his gold coins (he's found 15 gold coins since he started detecting).  When we're detecting and one of us digs a barber or seated coin, he cannot wait to look it up on PCGS.  Oddly he always grades his coins higher then mine - lol  

My perspective is just different, he sells to justify his hobby, whereas I just love the history and putting together finds from these Western frontier sites tells a story about a unique time in our history.  Touching history is exciting (to me). 

As a side business/hobby I collect and sell antique blown art glass (think Tiffany, Steuben, Galle, Daum, Loetz, etc).  It's another form of treasure hunting for me whereas knowledge is empowering, sometimes buying for pennies on the dollar and turning a massive profit (not typical of course, but you sure remember the ones that do!).  So I do understand the need/want to sell "finds" I just don't have a desire to do so for detecting finds.

HH,
Cal

 

 

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I totally agree Gerry!  It's all about the memory of finding something that's just hard to find?  I have a few of my personal favorites that are worth a bunch TO ME over my 27 years tecting but it's the least "valuable" one I probably treasure the most as I NEVER thought I'd dig one EVER out west and in a very young and small town?  I dug an 1842 Large Cent in good shape.  Other notable favorites are Morgan Dollars (1879s,1921), Seated Half (1853), and a 1937d "3-legged" buffy.  Got seated's, V's, buffs, barbers, IH's, mercs, rosies, and coffee cans full of wheats & coppers, etc.  I may part with the common silvers and pennies but doubt I could ever part with the Morgans, seated half or the LC....  Those coins bring back the memories any time I look at them and that (imo) can't be bought with $....????

Good post....thanks!!!!

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Thanks for the kinds words guys.

Cal,  My beach hunting buddy does the same as yours.  He'll sell the rings to help offset the cost for our next Adventure.  Me, I let the wife wear her choice and put others in the safe deposit box.  Someday down the road, I'l probably get rid of a few rings, but I do not need toe money at this time.  Not sure I could ever sell my coins though, at least not the valuable ones as there are way to good of stories behind them.  Now common silvers, I'll be selling them sometime down the road when I feel the spot price silver is good.

OneGuy,  Tat is a stunner 3 Legged Buff and your toning on it is nice too.  Yes those rare (not in value) older coin finds we make out West are usually some of my most memorable hunts.  My 1st really nice old US coin from out West, was a trip to a mining town with my father.  It was a Barber Half and he was even more excited and happy for me than I was.  Thanks for sharing some of yours and I'm sure you had emotions and excitement as you looked for the photos and posted your story too.

Keep the True Value stories coming everyone.

 

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Hello Gerry… I completely agree with you, and especially so to the idea that very frequently how we assign a value to a recovered item is based on many possible facets that may totally exclude any monetary value consideration. You were motivated by a wish to share both your coin and the experience involved with finding it with your Dad, and to subsequently enter your club’s monthly finds contest. I might add that there had to be a very real sense of accomplishment, and that to me is one of the essentials that keep many of us interested in the hobby. That aside, it was an extraordinary find, involved a wonderful story, and you deserve all the credit in the world.  :cool: 

The most important consideration for many of us has to be what you feel a recovered item is worth to you. As you’ve stated above, when you don’t need the money, it doesn’t mean as much or anything to you. It may therefore be very difficult to assign a monetary value because an item may appeal to us for many other reasons as noted above.

We may feel that the probability of finding another such item of similar age or condition is highly unlikely. Older coins, particularly silver coins may appeal to us aesthetically and / or for reasons of historical interest. Other more practical considerations that might factor into the equation may include the time invested, personal expense, travel involved, effort with searching multiple sites, motivating oneself to do the research and get into the field, and the fieldcraft (and luck) that ultimately made that specific recovery possible. And there are doubtless many other reasons why different people place a high “value” on their various finds regardless of monetary considerations. 

Attached is a multi-photo of coins and tokens to point out that none of these examples are worth more than a few dollars apiece, but yet these are some of my favorite finds. I couldn’t possibly part with them and it obviously has nothing to do with monetary value. They represent successes that resulted directly from my research efforts and fieldcraft. There is a feeling of accomplishment, and that is the primary “value” that matters most to me.................Jim.

20190318_223116.jpg.6918051a5e4b63333621c489dd55f917.jpg

 

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17 hours ago, Gerry in Idaho said:

Cal,  My beach hunting buddy does the same as yours.  He'll sell the rings to help offset the cost for our next Adventure.  Me, I let the wife wear her choice and put others in the safe deposit box.  Someday down the road, I'l probably get rid of a few rings, but I do not need toe money at this time.  Not sure I could ever sell my coins though, at least not the valuable ones as there are way to good of stories behind them.  Now common silvers, I'll be selling them sometime down the road when I feel the spot price silver is good.

I'm pretty much in the same boat Gerry, I don't need to sell them, and enjoy looking at them along with the memories associated with them, so why sell?  My buddy uses his spoils to finance his hobby and to justify our road trips to his wifey.....so if she thinks he's making money at it, he gets more wifey passes to detect - lol  (someone remind me why we get married?).

If we ever see a run up in silver to the $30's or $40's again, I will unload a bunch of common silver, and tons of other silver I've been hoarding away.  Those opportunities are rare though, they seem to occur what, about every 30-40 years?

 

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Thanks for all the nice comments and additions folks.  It is so funny to see a few of our favorite finds are actually not very valuable at all if in $$ terms.  Well a few of them are and that 3 legged Buff OneGuy found is certainly nice.  How did you get the toning to look so nice?

Jim,  You always have a way to make your finds look so special too and I really enjoy seeing them.

To me, the research to find a not so well known site is fun.  Then drive across 3 states to get there and walk around for a couple days hoping to recover a coin valued at .65 cents... Indian Head Cent from the 1880's is even more fun.  My research and detecting skills located the site and I was able to save a treasure from it.

I look forward to seeing others value ideas, finds and stories.

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