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"They'll be worth something someday"



 
 
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  #1  
Old May 16th 05, 03:46 PM
Paul Anderson
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Default "They'll be worth something someday"

I spent some $2 bills, dollar coins and 2005 buffalo nickels at a White
Castle in New York yesterday. This caused quite a stir and competition
among the workers to buy up these denominations.

One worker said he was buying the $2 bills because "they'll be worth
something someday". I've heard this before and wonder why people think
this about coins or bills that clearly will never be worth more than
face value.

It has been disproven time and time again, but people still think it.
Everything from bicentennial quarters to $2 bills to half dollars to
state quarters to dollar coins NEVER EVER are worth more than face
value, yet there's this allure or myth of "worth something someday"
that is apparently irresistable.

I guess I know why it happens, but it never ceases to amuse me.

Paul

--
Paul Anderson
OpenVMS Engineering
Hewlett-Packard Company
  #2  
Old May 16th 05, 03:51 PM
Anita
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On Mon, 16 May 2005 14:46:22 GMT, Paul Anderson
wrote:
....
It has been disproven time and time again, but people still think it.
Everything from bicentennial quarters to $2 bills to half dollars to
state quarters to dollar coins NEVER EVER are worth more than face
value, yet there's this allure or myth of "worth something someday"
that is apparently irresistable.


I tend to think this way, too, Paul. I tend to think that something I
don't see every day will be worth something one day. The thinking is
probably true, but now I have to add that I probably won't be around
when that day comes.

She who recently cashed in $300 of circulated state quarters. They
would be worth something *some*day :- Anita
  #3  
Old May 16th 05, 04:27 PM
Edward McGrath
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Geez you gotta get some books on modern paper money if you think bills
are only worth face value. 2003 B (NY) $1 star note in crisp
uncirculated condition worth $100, and there are plenty of others.
Knowledge is the key to paper money collecting.

  #6  
Old May 16th 05, 08:26 PM
Bob Hairgrove
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On Mon, 16 May 2005 14:51:12 GMT, Anita wrote:

On Mon, 16 May 2005 14:46:22 GMT, Paul Anderson
wrote:
...
It has been disproven time and time again, but people still think it.
Everything from bicentennial quarters to $2 bills to half dollars to
state quarters to dollar coins NEVER EVER are worth more than face
value, yet there's this allure or myth of "worth something someday"
that is apparently irresistable.


I tend to think this way, too, Paul. I tend to think that something I
don't see every day will be worth something one day. The thinking is
probably true, but now I have to add that I probably won't be around
when that day comes.

She who recently cashed in $300 of circulated state quarters. They
would be worth something *some*day :- Anita


My stepfather bought an uncirculated roll of 1968-S Lincoln cents when
they were issued. This year and mint had the lowest mintage number of
any date from 1958 until the present, excluding proofs.

Today, these are worth less than the 1968-P cents which had five times
the mintage numbers, and they are worth about the same as any of the
later common dates. Were the 1968-P's melted down or something??

He died in 1996. But I'm still waiting, because "some day, I *know*
they'll be worth something".



--
Bob Hairgrove

  #7  
Old May 17th 05, 04:47 AM
Papito
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On 16-May-2005, Bob Hairgrove wrote:

My stepfather bought an uncirculated roll of 1968-S Lincoln cents when
they were issued. This year and mint had the lowest mintage number of
any date from 1958 until the present, excluding proofs.

Today, these are worth less than the 1968-P cents which had five times
the mintage numbers, and they are worth about the same as any of the
later common dates. Were the 1968-P's melted down or something??



It has to be a supply effect -- Lots of other people saving 1968 S BU rolls,
possibly because they are rare and "will be worth something someday."

I buy BU cent rolls from a local dealer on occasion. Usually 1963 give or
take. He charges me 75 cents. The only thing I can think is that there
must have been a _lot_ of people saving BU rolls back then.
  #8  
Old May 16th 05, 04:19 PM
Wasdin, Jake E.
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Well, really, I think that 100 years from now, a bicentennial will be
just as valuable to collecters as a 1965.


Paul Anderson wrote:
I spent some $2 bills, dollar coins and 2005 buffalo nickels at a White
Castle in New York yesterday. This caused quite a stir and competition
among the workers to buy up these denominations.

One worker said he was buying the $2 bills because "they'll be worth
something someday". I've heard this before and wonder why people think
this about coins or bills that clearly will never be worth more than
face value.

It has been disproven time and time again, but people still think it.
Everything from bicentennial quarters to $2 bills to half dollars to
state quarters to dollar coins NEVER EVER are worth more than face
value, yet there's this allure or myth of "worth something someday"
that is apparently irresistable.

I guess I know why it happens, but it never ceases to amuse me.

Paul



--
*/Jake Wasdin/*


  #9  
Old May 16th 05, 04:29 PM
Cliff
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On Mon, 16 May 2005 11:19:22 -0400, "Wasdin, Jake E."
wrote:

Well, really, I think that 100 years from now, a bicentennial will be
just as valuable to collecters as a 1965.


Paul Anderson wrote:
I spent some $2 bills, dollar coins and 2005 buffalo nickels at a White
Castle in New York yesterday. This caused quite a stir and competition
among the workers to buy up these denominations.

One worker said he was buying the $2 bills because "they'll be worth
something someday". I've heard this before and wonder why people think
this about coins or bills that clearly will never be worth more than
face value.

It has been disproven time and time again, but people still think it.
Everything from bicentennial quarters to $2 bills to half dollars to
state quarters to dollar coins NEVER EVER are worth more than face
value, yet there's this allure or myth of "worth something someday"
that is apparently irresistable.

I guess I know why it happens, but it never ceases to amuse me.

Paul


I believe that people back in 1916 probably had the same kind of
attitude towards people that picked up the new standing liberty
quarter or walking liberty half and said, hey, these might be worth
something some day.

Paul, you take a very cavilier attitude towards other people seeing
something out of the ordinary. And you say that "coins or bills that
clearly will never be worth more than face value". Who are you to be
"amused" at other people putting things away for a hopeful future
appreciation? Why do you laugh at potential new collectors, who may
start collecting coins or currency just because of the strange new
items you've paid with?

This elitist attitude is the one you see at coin shows where dealers
decide you can't afford their coins before you even get to their table
or the attitude that collectors show to people coming into this group
with a simple question about something that seems out of the ordinary.
This attitude is what will spell a death knell to collecting long
before the endless new items being put out by the mint or the guys on
TV that offer coins at some what inflated prices. If the TV or the
mint web site are the only places people can get information without
being laughed at, then that is where they are going to get their
coins. If they like what they get and feel like the price is OK by
them, then they spend their money as they like.

Just don't look down your nose the next time you bring a little cheer
into someones life by spending that half dollar or two dollar bill.
Cliff

  #10  
Old May 16th 05, 04:55 PM
Slopoet17
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Hear, hear, Cliff. I feel exactly as you do. And as I recently sold a
roll of circulated Bicentennial quarters for 3 times face ($30 for the
roll) at auction, I have facts to support the claims.

But keep on putting your $2's and Sacagaweas and Bisons out there,
Paul. We'll be glad to cash in on your ignorance. You clearly don't
know a thing about values of modern issues.

One man's trash is another's treasure.

 




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