What was floating around in circulation in the mid-1960s?

[jtryka]

Well, I have one answer, but would encourage others to share their experience. A few weeks ago when I was visiting home, I sorted through a big (I mean big) can of coins that my uncle and grandfather plucked from circulation back in 1965. I was mainly looking to see if there were some mercs or WL halves for my whitman folders, but I explored it more like an archaeological find, as these coins haven't been disturbed for more than 30 years. First of all, there were tons of halves, as unlike today, halves actually circulated back then. Probably about half of those were bright white brand new 1964 Kennedys, which went from the bank, right into the can. Beyond that there were a large number of Franklins, probably a complete set of circulated issues from the looks of the dates I saw. Then there were quite a few Walkers, not as many as the other two designs, but a lot, and almost all from the 1940s, with a few from the 1930s. A for quarters, there were almost all Washingtons, and most of those were from the 50s and 60s, fewer than I would have anticipated from the 30s and 40s. There were also quite a few SLQs, all dateless, and I am guessing there was one for about every roll or two of quarters in the can. Dimes were predominantly Roosevelts, with maybe 2 rolls out of 20 that were Mercurys. There were also about a dozen circulated silver dollars in there, which also came from circulation, most were 1921 Morgans, and Peace dollars from 1922, 23 and 26. There was also an older Morgan, I think from the 1880s in there, maybe a F/VF specimen.

 

Overall, I was pretty surprised by many of the designs represented, especially the silver dollars, but I would have expected more Mercurys and walkers in the bunch. And after seeing the pile of unc Kennedys, I realize now just how common they are, and how much they were saved in high grades.

[Leothelion]

Wow, that must of been quite an experience to remember!

 

I remember how my dad had kept an old fliptop tobacco can full of silver halves and dollars on a shelf out in the utility room. Most likely an accumulation of coins but as a kid in the 1960's, I used to sneak around to take a look at them until one day, I found the can empty. The truth came out later that my older brother took the coins into town and bought candy! To this day, we're still telling him what a dork he is!

 

Leo

[cladking]

That accumulation sounds about right except for the dimes. There should have been a lot more mercs since there were nearly as many of these in circ as the Roosys up until about 1960. Perhaps they were more likely to spend the mercs for some reason.

 

Collectors removed most of the better date coins starting in 1945 and had pretty much completed the job by the mid '50's. There were still lots of semi keys in low grade which the millions of baby boomers pulled out in the late '50's and early '60's.

 

Old pocket change from any era can be fascinating. I recently found some ordinary rolls of cents from 1970 that were just incredible and brought back lots of memories. They were mixed in with a bunch of 1970 cent rolls and the guy had figured that they must be solid date because they had a 1970 dated coin on one end and the reverse of an unc coin on the other.

[291fifth]

The mix of coins available from circulation was changing rapidly during the early 1960's. I was actively collecting from circulation at that time and could probably tell you just about what year a hoard was taken from circulation by looking at the mix of coins. There should have been more Mercuries in the mix. There should also have been a few war nickels and buffalos. From your description I am guessing that your hoard actually dates from the late 1960's. The silver halves, quarters and dimes were not really withdrawn until after the clad coins started circulating in early 1966. Even though clad coins are dated 1965 they did not enter circulation until 1966. Scammers often make up stories to try to unload junk silver, wheats, etc. but most can't duplicate what was actually being withdrawn at the time they claim.

[azmorganman]

I filled up a lot of blue folders then. Used to get rolls from the bank and go through them. Best finds: 1909-s lincoln, 1922- plain lincoln, and 16-d merc. Alas, but then the girls started looking looking better than the coins.........

[jtryka]

A few more details, there were some war nickels, but only because they were silver, so there were no other nickels there (buffalo or otherwise). There were also no 40% silver halves, which leads me to believe that most of them were removed in the 1966-67 period. There was also one lonely unc 1965 quarter.

[kranky]

The mid- to late 60's was the time when I had a paper route (and got started collecting).

 

I knew I should save all the silver (I read about Gresham's Law at the time of the switchover to clad) but it wasn't possible - there was too much. I remember occasional cruddy IHCs, late-date Mercs, mostly dateless Buffs (those with dates were in the 30's). I don't think I ever got a silver dollar. Dateless SLQs were unusual. Don't remember getting a single Barber coin.

 

War nickels were not uncommon - I probably got five or six rolls over a three-year period.

 

I was focused on Lincolns at the time and filled three 1909-1940 Whitman folders with the (important) exceptions of the 09-s, 09-S VDB, 14-D, 22-D, 24-D, and 31-S. The fourth was missing most of the early D- and S-mint coins and a handful of others. I do remember seeing way more 1919-Ps than I would have expected by comparison to the mintages of more recent P-mint dates.

[291fifth]

The deterioration in circulation finds from 1961-63 was amazing. You had to experience it to believe it. During summer vacation (I was in high school at the time) I sometimes went thru two bags a day, usually cents or nickels. Many, many others were doing the same. The coin market began to collapse in May of 1964. By the end of 1965 many collectors were gone.

 

 

[michael]

funny you should ask that and a great super duper thread by the way!!!

 

we need more like this thread!!! fun and educastional i am always for the advancement of knowledge by all in coins it does help the market!!

 

well i examined an accumulation just to give an approximate value to it put away from circulation in 1964/65/66 when silver was being rewcalled so this person put away all they could get at the bank they used to ask for the older silver coins or any silver dollars

 

asked over a period of a year or two they had common date circ silver dollars ag to vf lots of 1921 they did have a ag 1889 cc gotten from the bank!!

 

some walkers more franklines and would you believe they had a really nice choice original xf pre 1820 half!!!!

 

all just by gointgto the local bank and accumulating the coins over a year or so period!

 

michael

 

a great thread and responses by the way

[Elcontador]

I started coin collecting when I found a 1932 S Quarter in F 12 in change from a local movie theater in 1963. I was able to find quite a bit of interesting stuff until 1966-7, when clad coinage was all over the place & silver coins basically stopped circulating.

 

War nickels were easy to find, as were early Lincoln cents, excepting the key dates. I even found a few Indian Head Cents, a handful of Liberty Nickels, a few Barber Dimes and a Barber Quarter.

 

Buffalo nickels were plentiful, and I was able to fill most of my whitman album, including the 24 S. Found a few late date Buffs in XF.

 

The Mercury dimes were a lot like the Lincoln cents, as I found everything except the 1916 D, the 1921s & the overdate in change. Typically G-VG for teens & twenties, F-XF for thirties to 1945. I don't know how, but I found (and still have) a 42 S Dime that's a slider.

 

I found a handful of SLQs, but only a few had dates. I found every Washington quater in change excepting the 32 D.

 

Walkers from the 40s were plentiful, though I did find a low grade 23 S.

 

IMO, back then, you were probably better off finding stuff in change rather than buying it. Many people cleaned / whizzed coins like War Nickels so they could try & sell them as Uncs. for a $1 or $2.

[Oldtrader3]

In Maine, I was getting Wheat's (mostly steel and bronze), worn Buff's, Jeff's (war and others), Merc's, Roosies, worn SLQ's, Washington's, worn WL Half's, Frankies and mint Peace Dollars at the bank. Plus the occasional really worn Barber or Indian cent. In Las Vegas, I was getting Morgan dollars by the handful. Within a year after 1964, they all started drying up. Except 40% Kennedy's. The 90% Kennedy's dried up over night.