Is Your Old Change Jar Worth a Fortune? A Guide to Selling Coins in West Michigan

Coin collecting is more than just a fascinating hobby—it can be a surprising financial windfall. Many families in Grand Rapids have jars, cigar boxes, or old albums full of coins tucked away in attics or basements. But how do you know if you have a pile of pocket change or a collection worth thousands?

At M37 Auction, we see coin collections of all sizes. Recently, a small lot of just 19 silver half dollars (with a face value of only $9.50) sold on our platform for $481.00. Here is what you need to look for before you sell. If you are looking to sell coins in Grand Rapids, this guide will help you identify what you have and how to get the most money for it.

Step 1: The "Silver Standard" (Dates to Watch) The easiest way to spot immediate value is to check the date. Due to rising silver prices, common coins from the mid-20th century are now worth many times their face value. You don't need to be an expert; you just need to know the cutoff dates.

• Pre-1965 Dimes, Quarters, and Half Dollars: If your coin is dated 1964 or earlier, it is made of 90% silver. These are highly sought after by investors and collectors alike for their metal content. Even in poor condition, they are worth significantly more than face value.

• 1965-1970 Kennedy Half Dollars: While not 90% silver, these specific years still contain 40% silver. Many people mistakenly spend these as regular 50-cent pieces, throwing away potential profit.

• War Nickels (1942-1945): During WWII, nickel was needed for the war effort, so the mint used a silver alloy. Look for a large "P", "D", or "S" mint mark above the dome of Monticello on the back. These contain 35% silver.

Step 2: Beyond Silver (Key Pennies & Rarities) It's not just about silver. Copper pennies and specific rare dates can also command high prices from numismatic collectors.

• Wheat Pennies (1909-1958): Most "Wheaties" are worth a few cents, but key dates like the 1909-S V.D.B. can be worth hundreds or even thousands of dollars depending on condition.

• The Copper Cutoff (Pre-1982): Pennies minted before 1982 are 95% copper. While not a "get rich quick" item individually, bulk hoards have intrinsic metal value that exceeds their one-cent face value.

• Morgan & Peace Silver Dollars: These large silver coins (minted 1878–1935) are iconic. Even common dates in worn condition usually sell for $25+ each, while rare dates (like "Carson City" mint marks) can fetch thousands.

• Error Coins: Keep an eye out for oddities, like the famous 1955 Double Die penny where the date and letters appear blurred or doubled.

⚠️ PRO TIP: Do NOT Clean Your Coins! The biggest mistake we see is people scrubbing old coins to make them "shiny" before selling. Stop! Cleaning a coin can destroy 50% or more of its numismatic value instantly. Collectors prefer the original "patina" or tarnish. Leave them exactly as they are.

Step 3: The Safe Way to Sell Your Collection Once you identify your coins, where should you sell them? In West Michigan, you generally have three options, but they are not created equal.

1. Local Coin Shops: Good for quick cash. However, you are selling to a reseller who needs to buy low to sell high. You effectively pay a "wholesale" penalty for the speed of the transaction.

2. Pawn Shops: Generally offer the lowest payout percentages. They are generalists, not numismatists, and will often only pay for the scrap metal value, ignoring the collector value of rare dates.

3. Online Auction (The M37 Way): This is often the most profitable route. Instead of one person giving you a price, we put your coins in front of thousands of competing bidders on the M37Auction platform.

How It Works:

• Drop Off: You bring your collection to our secure facility in Caledonia.

• We Do the Work: We handle the photography, the descriptions, the marketing, and the payment processing.

• Global Bidding: Collectors from all over the country compete for your items.

• Get Paid: You receive a check in the mail.

Frequently Asked Questions (FAQ)

• I have a jar of foreign coins. Are they worth anything? Most modern foreign coins (leftover vacation change) have low resale value. However, older foreign coins (19th century or earlier) or those made of silver/gold can be very valuable. We can help you sort the "treasure" from the "tokens."

• Do you buy gold coins? Yes. Gold coins (like American Eagles, Krugerrands, or pre-1933 US Gold) are high-value items that perform exceptionally well at auction.

• Is it safe to mail my coins to you? We generally recommend dropping off valuable collections in person at our Caledonia, MI office to ensure chain of custody. If you are out of the area, please call us to discuss secure shipping methods.

Local Resources for Collectors

• Michigan State Numismatic Society: A great resource for educational events and coin shows in the state.

• Grand Rapids Public Museum: Occasionally hosts exhibits on local history and currency that can be educational for new collectors.

Ready to Cash In Your Collection? Whether you have a single jar, a cigar box of "War Nickels," or a massive estate collection of Gold Eagles, do not guess at the value. We can help you maximize it.

Drop off your coins today: 9790 Cherry Valley Ave, Caledonia, MI 49316 (616) 920-6651

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