“I have a box of old coins from my grandparents, are they worth anything or should I just take them to a bank or a coin machine at the supermarket?”

We hear this question every week. The short answer is that you should always have someone knowledgeable about coins take a look at them before you trade them in for face value at a bank or at less than face value at a supermarket coin machine. We have people on staff at The Pawn Company who can help you with that decision so that you don’t throw away coins that can be worth many, many times their face value.

The most important year that you should remember is 1964. That is the last year that US coins were made of 90% silver. All of the dimes, quarters and 50 cent pieces from 1964 or before have considerably more metal value than they do face value and they should never be cashed in for merely their face value. If you remember nothing else from reading this note, remember that year. Additionally, the 50 cent pieces made from 1965-1970 are still 40% silver and while not as valuable as their older brethren, they still have more than face value and should not simply be cashed in at the bank.

Above and beyond the metal content, coins can have value for a variety of other factors, like coins that were made in very small numbers, coins that were poorly or improperly struck or coins that can be used to complete a set by coin collectors.

As with most items of value, information is power. We at The Pawn Company are happy to both educate our customers on the value of an item AND to make a fair offer for that item should you decide to sell it. Come see us and let us prove it to you!

 

– The Pawn Company Insider

 

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