Myers Depot Metal Detectors

Dug Coins - value?

ollievon

ollievon

Elite Member
Joined
Mar 9, 2006
Messages
814
Location
Upstate NY
Hey all, got a curious question - are dug coins really worth anything to collectors? I was at a coin show recently and was informed by several coin collectors that dug coins are interesting, but have little value - is this true?

What has been your experience if you have sold your dug coins?
 
Environmental damage is generally the point of contention with a good number of dug coins. Copper and nickel do not like to be outdoors. Remember that even silver coins contain a percentage of copper. Look closely at some of the silver coins you have retrieved. Get a 10x loupe and look closely. Often times you will find a pitted surface that looked good with the naked eye.
That being said, I have retrieved 100 year old silver coins from sandy soil with excellent drainage that would probably pass if I ever attempted to have them graded. I think I would only be tempted to try if was a key date.
That being said, I still would probably never sell any of my keepers.
If you're looking to get rich, this is the wrong hobby :)
I realized and accepted this fact years ago and it still hasn't dimmed my passion for this hobby of ours.
<drops the mic>
 
Yes, that's generally true. Only the rarest of the rare coins and gold coins are of any significant value. Playing the lottery is easier, but not as much fun.

Common gold and silver dug coins are generally worth a little over the melt value.

Pick some key date coins and look at sold ebay listings for those in ungraded/cleaned/dug/rough condition.
 
The big money serious collectors want the best examples and wouldn't want to display dirty coins. If they are very rare they can still bring big bucks dirty. 150 years in the ground is rough on a coin, but it's not as rough as being in circulation at least in my dirt. I think most 1800's coins with readable dates and some detail will always have more than face or melt value because of all the casual collectors. A 1964 Washington won't be more than melt unless its in uncirculated condition.
 
Value of Dug Coins

In most cases, a dug coin has little more than face value. (Especially, modern coins!)
The facts that start changing the value of a dug coin are:
1) The amount that we’re minted vs. availability, rarity. (Key and semi-key dates)
2) The coin type (Goes along with rarity)
3) The condition. Environmental, holes, scratched...(Yes, rubbing a coin can matter when it comes to value.)
4) The metal, gold/silver (Yes, silver coins do have more value than face.)
5) The customer that wants it for what it is.

If you don’t know what it’s worth, ask more than one person...find an expert that has nothing to gain.
 
i dug a 1921 d merc that got graded a vf. worth a couple hundred. depends on what you find, where you find it, and how rare it is.
 
I have dug key-date coins, and sold them for high value.

But sure, you will never get a purist collector to admit/say that. They will have an immediate bias, the moment you say "dug" or "metal detector". That will immediately bias their view of the coin (before they've even looked at it).

One time, a buddy of mine got a rare CC $5 gold. This was in the era before the internet, so we took it in to a brick & mortar coin store. The fellow looked it up in his book, looked at it under his loop, etc.... He was quite impressed , and musing at high values !! But the moment we said "found @ md'ing", we noticed that his countenance dropped, he took another look at it with his loop a 2nd time, and immediately started downplaying it.

Doh! So .... it's 99% psychological. Just don't say "dug" and "detector", and let the potential buyer be his own judge !
 
Anyone who knows his stuff is going to take a good look at a coin, dug or not, before he's going to buy it. There's nothing wrong with that...no one would buy a house, used car, or anything collectible without seeing it first. If they did, then they deserve what they get. Dug coins that are copper or nickel are NOT going to be in very good condition and therefore have little or no resale value. Silver and gold coins generally come out of the ground in much better shape but if they're not a scarce date they're most likely only worth their metal value.
 
I just sold a 1907D Barber half on ebuy for 45$ if that means anything...so it’s worth checking the “Completed” listings to approximate value from those buyers.
I’ve only sold 4 coins...3 Barber dimes and a half,face value 80 cents for a total of 95$. Barbers seem to be in demand right now.
 
You can bet if you find a well worn but readable 1916 D Merc they won't be quite so picky.
 
I have sold four coins that I have dug. Each was a key date and each sold for more than $120. All on ebay. None of the shops I brought the coins to would buy them. They all said they were cleaned. Which they were not, but full of scratches for sure.
 
Depends how rare a coin is.

Dr. Tones dug a 1901 S Barber Quarter and sold it at auction for in excess of 6K, so it depends.
 
Tom_in_CA said:
One time, a buddy of mine got a rare CC $5 gold. This was in the era before the internet, so we took it in to a brick & mortar coin store. The fellow looked it up in his book, looked at it under his loop, etc.... He was quite impressed , and musing at high values !! But the moment we said "found @ md'ing", we noticed that his countenance dropped, he took another look at it with his loop a 2nd time, and immediately started downplaying it.

Doh! So .... it's 99% psychological. Just don't say "dug" and "detector", and let the potential buyer be his own judge !
Click to expand...

Great advice, Tom.

Remember these words: "It's been in my grandfather's collection for many, many years." :laughing:
 
I found two 1926 S mercs. Got 100.00 each for them

An 1894 O Barber dime 100.00

A Barber half that I can't remember the year 85.00

A 1914 D penny I sold for 600.00

A 1893 CC 10.00 Eagle I got 900.00 for.

MOST coins are scrap silver in value. However, you can and will come across a rare coin someday and it all depends on the condition, as to what the soil did to it and how worn it was before it was lost.

Another thing to consider is if you rubbed the dirt off it. I was told those 1926 S dimes would have been worth a lot more if I hadn't.
 
Lol any older coin that I dig is priceless!!! My wife doesn't understand it, and I'm not sure that I fully understand it either. When I pull it out of the ground there is an unexplained bond that takes place. :laughing::laughing:
 
All depends on the date/mint mark/condition.
Check out You Tube Dr. Tones, he sold a dug key date quarter for over $6,000.00.
Yes, once in a lifetime. But it happens!
 
ollievon said:
Hey all, got a curious question - are dug coins really worth anything to collectors? I was at a coin show recently and was informed by several coin collectors that dug coins are interesting, but have little value - is this true?

What has been your experience if you have sold your dug coins?
Click to expand...

Depends on the coin, and the environmental damage done to it, while in the dirt.

To blanket statement that "dug coins have no value" is poor evaluation. EVERY coin should be valuated on its personal condition, not where it was found.

I've found a coin in amazing shape, dug right out of the ocean sand after almost 2000 years, worth several hundred bucks, and have purchased silver coins found by metal detectorists that were worth hundreds of dollars simply due to the rarity of the coins alone.

A dug coin can be in better shape than most circulated coins, depending on the condition it was dropped in. Some soils are caustic to coins, others do a fine job of protecting them. Each coin should be looked at, and evaluated accordingly.

Cheers,

Skippy
 
Silver_Seeker said:
Depends how rare a coin is.

Dr. Tones dug a 1901 S Barber Quarter and sold it at auction for in excess of 6K, so it depends.
Click to expand...

I remember THAT one! Plus, Dr. Tones filmed the Online auction as it was nearing the end...! Zip, Zoom! Right out the top! That was really fun to watch the vid! I bet its still out there someplace if a guy wanted to see it...quite inspirational and gives a guy hope! for the value of a maybe once in a Lifetime find bringing in some cash...

Just to rub the Wifes nose in it if nothing else! "Ya see what I just got paid for my efforts in what you call my 'worthless gay hobby?' How do you like Them apples!" We are going out to Applebees tonight!":laughing:
 
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