Rare coins back in circulation
Here’s an interesting story I came across. A coin dealer is going to put into circulation $4,000 worth of rare coins. I wonder how long it will take to unearth the coins.
Here’s an excerpt from the article (for the full article, use the link at the bottom).
Dropping a coin in the “Leave a Penny/Take a Penny” tray next to the cash register might be the smallest charitable act there is. But Monday, leaving one cent could cost someone two grand.
Jeffrey Angello, owner of American Coin & Stamp Co. on Main Avenue, is going to spend a rare penny worth $2,000 at a store somewhere in Passaic, Bergen or Essex counties.
Throughout the day, he and his family are going to shop and put back into circulation 107 coins with a total value of about $4,000.
Angello’s generosity is his way of celebrating American Coin & Stamp’s 50th anniversary.
“It’s kind of a way to give back and promote the hobby,” Angello, 41, said last week of his plans to give away the coins.
The entrance to Angello’s store is nondescript, secured by a buzzer. Behind the door, the Angello family’s precious coins, which took 50 years to amass, lie under glass, shining through small plastic bags and nestled in felt cases. Despite the care Angello has taken to acquire the coins and maintain the business he took over from his late father, he wants to release some of the collection for diligent numismatists to unearth.