Is Grandpa’s Coin Jar Worth Anything? What You Need to Know About Inherited Hoards
A common story pops up in the coin collecting world: a grandparent saves coins for decades, and when they pass away, the family wonders if they’ve stumbled into a small fortune. But more often than not, what’s left behind isn’t a curated collection, it’s a hoard. And there’s a big difference.
Let’s break down why most inherited coin jars aren’t full of hidden treasure and how to figure out if yours is the rare exception.
What’s the Difference Between a Hoard and a Collection?
A collection involves care:
- Coins are sorted by date, mint mark, and condition
- Stored in flips, albums, or tubes
- Notes might be kept on where they were found or how much they cost
A hoard, on the other hand, is just a pile. It might have sentimental value or historical appeal, but usually, it hasn’t been organized, preserved, or evaluated. That makes a huge difference in value.
Why Most Hoards Aren’t Valuable
Even if your grandfather started saving coins in the 1950s, that doesn’t mean he has coins from the 1950s, it means he started hoarding then. Most likely, he pulled whatever change passed through his hands and set it aside. But here’s the issue:
- Circulated coins lose value fast A pristine 1909-S VDB cent might sell for thousands. That same coin, worn down from circulation, might be worth under $100, or even less. And odds are, your grandfather didn’t pull it in mint state.
- The internet inflates expectations Google “rare Lincoln cent” and you’ll find sales of MS66 examples, auction records, or scammy listings with made-up prices. Most of what’s in circulation (even older coins ) are “20 cent or less” pieces.
- Time doesn’t equal value A coin being old doesn’t automatically make it rare. Unless it’s in exceptional condition or a key date/variety, age alone isn’t enough to generate real value.
So What Should You Do?
Here’s your game plan:
- Skim through the hoard Look for silver coins (dimes, quarters, and half dollars dated 1964 or earlier), war nickels (1942–1945 with a large mintmark over Monticello), and anything that looks odd (errors, off-center strikes, etc.).
- Check for key dates Grab a copy of the Red Book or a reputable online guide. Focus only on coins known to carry premiums even in low grade.
- Don’t expect a retirement fund If you find a few keepers, great, but go into it expecting a handful of modestly interesting coins, not a secret fortune.
- Decide how much your time is worth Sorting thousands of coins might not be worth it unless you’re in it for the fun or learning experience. There’s nothing wrong with spending time on it, just know it’s probably a labor of love, not profit. Sorting through a massive pile of coins is, to me, one of the most relaxing things in the world.
Final Thoughts
There’s real joy in going through an inherited hoard, the stories, the designs, the little surprises. But if you’re hoping to fund a vacation or pay off debt with Grandpa’s change jar, take a breath.
The truth is: it’s probably worth less than you hoped, but maybe more than you think, especially if it sparks your own interest in collecting the right way.