Coin collecting: Toning up. March 15, 2014Posted by ourfriendben in Ben Franklin, wit and wisdom.
Tags: Benjamin Franklin, coin collecting, pocket change, Poor Richard's Almanac, Richard Saunders, toned coins
It’s me, Richard Saunders of Poor Richard’s Almanac fame, here today to talk about one of the fun things about coin collecting. If you’re a pocket-change collector like me, you know how much fun it is to collect pennies, nickels, and quarters that have different designs. (Where are new dimes, U.S. Mint?!)
And I’m sure you know that coins change color over time. If you have old nickels, you may be grossed out by the greasy dull grey color they’ve taken on in their many years rattling around in pockets and purses. If you’re lucky enough to have found some “wheat ears” pennies in your change, you’ll have seen how they turned from their original bright copper to flat brown over time. (“Wheat ears” pennies had two ears of wheat on the back, and the design was used from the debut of the Lincoln cent in 1909 until 1959, when the Lincoln Memorial replaced it.)
Nobody would call these changes for the better. But there is a color change that is cherished by coin collectors. It’s called “toning.” Basically, it’s when a coin takes on attractive colors as it ages, and it’s another great reason to check your pocket change. Toning is usually most pronounced on silver coins—especially silver dollars, half-dollars, and quarters. You can buy spectacular examples covered with an entire rainbow of colors or just a couple, such as blue and gold, or coins that are now a gorgeous gold tone but started life as silver. (But buyer beware: Because toned coins have a higher market value than regular coins, there are a lot of fakes out there.)
But here’s what’s exciting: Regular pocket change can also be toned, and it doesn’t have to be old, either. Just last week, I found a Lewis and Clark nickel from 2004 in my pocket that had started to turn gold. Mind you, not that this is real gold, and not that pocket change ever has much more than face value, unless you really do come upon a rare penny or an old silver dime, quarter, half-dollar, or dollar. (I never have; they were pretty much all grabbed up after the Mint stopped producing silver coins in 1965 and went to alloys.) But toning is a fun and different look to add to your collection, and some of these toned coins really are quite beautiful.
So don’t forget to check that pocket change! As our hero and blog mentor, the great Benjamin Franklin, would say, “A penny saved is a penny earned.”