• seperator

Hoarded quarters put to use

More and more of the older state quarters seem to be finding their way into circulation if what I am getting is any guide. I had a beautiful Delaware quarter come my way the other day.

The recession is making people dig into their accumulations to pay daily bills. This is something that could go on for years. It is also something that might break the quarter habit for many people.

If you have been faithfully saving the coins in any quantity and you arrive at nearly the end of the 10-year program to find out that what you have squirreled away is not really worth anything more than face value, the whole hoard might eventually get dumped as money is needed.

Or, it could be something of collector’s remorse. If you have been faithfully accumulating rolls of the coins and circumstance forces you to stop, you might just feel frustration and guilt and give the whole effort up.

Either way, if the phenomenon occurs, we could experience lower mintages in future years as these coins clog the banking system, requiring fewer orders for new coins from the Mint.

This could be a little bit like what happened to coin mintages in the 1880s. Numbers were down because all of the silver coins that disappeared from circulation during the inflationary crisis spawned by the Civil War found their way back into circulation after the Resumption Act that went into effect Jan. 1, 1879, made the dollar basically as good as gold after a lapse of almost 18 years.

We’ll see.

This entry was posted in Buzz. Bookmark the permalink.

2 Responses to Hoarded quarters put to use

  1. Mark says:

    Speaking of older quarters, I got a 1964 90% silver quarter with my change last week. In the past year I’ve gotten 3 90% silver dimes. My guess is some older people who were holding these coins my have passed away and their familily members who are not aware of the coins value rolled them up and put them back into circulation. That could be what is happening with the early state quarters as well. I have noticed more 1965 to 1969 quarters with my change in recent months.

  2. john michel says:

    I too have noticed quality state quarters more often in circulation. I found an Il. state quarter with MS quality better than some of my 65 and 66’s. I believe that with the economy people are losing interest in the coin programs and using what they saved when the economy was in better shape. This is just the begining and yes I too believe the market will become flooded with more of these types of coins with less and less people paying attention to what passes through their pockets. I was at a gas station the other day and a younger man (about 27-30) was paying for gas with Franklin and Kennedy half dollars, he had 27 that were all silver and trading them for face value for fuel. I bought them from the attendant for face value as well stating that the silver content in 3 coins were worth more than what he got in gas and could be sold at any local coin dealer for silver content alone.

Leave a Reply