Why Is A Penny Like A Knife?

I had hoped to shoot a Saturday evening match, but I started working on my father’s coin collection and lost track of time.  Most of his coins are from circulation so they have little collection value other than face value.  It was the excess coins that troubled me.

What’s a lot of pennies from 1949 to 1960 worth?  Let’s start off with the fact they are ‘wheat backs’ which are no longer minted.  Also understand they minted millions of each wheat penny each year.  Nobody knows if they will be worth anything for at least 150 years.  I base that on a large penny I have from 1848 in good condition that might be worth $3 bucks.   

Current pennies are a copper clad zinc coin, but these are solid copper.  I checked the selling price of copper, the weight of a penny and 158 pennies could earn you around 2 bucks.  I suspect many US metal recyclers will not want to handle pennies, afraid of laws about defacing US currency.  Factor in the cost of a trip to Canada where a US penny just is a disk of copper, and I suspect you need to take tons to come out ahead.

Many of the coins in circulation have features raised above the coin’s rim and are quickly eroded way along with their value.  Most Indian head nickels have lost their date and you might be able to sell such a worn coin for 8 to 10 cents.  It seems during the Depression, hobos would carve an Indian head nickel to resemble some other figure and would try to trade their handy work for a meal or shot of Ol’Red Eye.  So there is still a small market for the coin as artistic media.

So it goes with most coins in circulation, a dime without silver is worth 10 cents.  A Kennedy post 1964 half dollar might be worth a few cents more to a collector or someone who want to imitate George Raff flipping a coin.

The only real way to make money on most circulated coins, other than to spend ‘em is to sell them to other new collectors who can no longer find a 1941-S penny.  From my knife selling experience, forget ebay.  You could rent tables at coin, hobby, and flea markets, spending a lot of weekends to make peanuts.  You should prepare to spend years to sell circulated coins with a face value of $100.

So what does this have to do with knives?

Knife collectors are kind of in the same situation.  If your heirs aren’t interested in your collection, they will want to sell it.  So what’s a fair price?  There aren’t that many people willing to plunk down bucks for used Case knife.  If you have one from the 1930s, it may be valuable to the right person, but you’ve got to find that person.  Even custom and semi-custom knives go out of style and drop in price as the maker becomes more obscure.

Yes, there are exceptions.  Loveless, Randall and others are still in demand, partially because the organizations still exist and are still making knives.  Others aren’t so lucky.  Most factory made knives only drop in appreciation as newer design and more sophisticated steels are introduced. 

It is a nice little knife in its own right.  Does the blade engraving make it more valuable or less valuable?
I think more to me, less to everyone else.

As knife collectors we are told to list or provide documentation to our heirs to help them understand what we believe the knife is worth.  We are often guilty of over-evaluating our collection.  We would like to believe the club knife or special event knife should be worth more, especially if only a few were made and it’s old.  The same with knife lines no longer manufactured.  Scarcity and age do not determine price.  Price is determined by the transaction between seller and buyer.  And it can be different on any single day depending on who’s at the table and how much each wants to buy and sell.

So, do I have a solution to the coin and knife collector?  Of course I do!

It’s a two part solution.  The first is selling your collection yourself.  You enjoyed putting it together; now enjoy haggling and selling it.  You’ll make, lose or break even on the deal, but at least you’ll have fun doing it.  The second part is don’t worry about it.  Enjoy your collection while you can and let the heirs deal with it.  So what if the kids sell your custom made ivory handled Fairbairn-Sykes combat dagger for 50 bucks and threw in a sharpening stone. 

It isn’t like you can use the money, is it?

Off The Leash

Since when do we find weather the new source of chills, goose bumps and scary things that go creak in the night?  Why do we find it entertaining when the weather person gets on the tube and tells us it could be bad weather ahead, (assuming the parameters don’t change over the next three days) and the facebookers announce that they have traded their car for a two-person dog sled and 100 pounds of potatoes.  

I use to work with a bunch of Texans, who at the mere mention of snowy driving conditions, would raid the vending machines and horde candy above the ceiling tiles in their office.  And I want to say  categorically, no evidence of cannibalism was ever suspected or even found.  At least they had good reasons.  They never saw snow before, but the rest of us? 

Anyway, the Medina knife gun show was pretty empty.  A lot of vendors got snowed in at home, frightened off or just plain figured it would be poor show.  And they were right.  Saturday was very empty, but I don’t know why.  It took me about 45 minutes to drive in because I slowed down to 40-45 but the roads were drivable.  It would have been a good day for bargain hunters.  Most of the vendors needed a sale and could be talked down to a better price.

By Sunday the roads were clear and we got a few more walk-arounds and quite a few more walking sellers.   I don’t know if it was the need to raise cash for Christmas bills, got a better one for Christmas, or had too much money tied up in weapons.  Many people had simply stocked up in anticipation of a presidency that would order out the troops to go house to house in search of guns, bullets and any knives other than the plastic ones you get at Mickey D’s.

Don’t sit there smug you muzzle loaders, you and those 1776 assault rifles would have been next!

I welcomed one man to my table, telling him he was free to handle the knives.  He confessed he was just looking, cause he didn’t have any money.  I told him that’s okay, because none of the knives were for sale. 

I’ve got to give him credit.  He came back with “Except for what sticks to my hands,” but I informed him that I was sure that I and the police would manage to get the knife free.  He didn’t buy anything, but then again he said he didn’t have any money.

One of my potential customers had some specific needs and no matter how I tried I couldn’t find the right knife for him.  He was, or perhaps I should say, is an elderly fellow with a bad case of the shakes.  The shakes rob him of both strength and dexterity.  He wanted a knife that he could open with one hand and it would lock open.  It had to be a small, quality knife with a pocket clip and of course it had to be cheap.

Now cheap is an interesting word.  Some people think an $8 dollar steak meal is expensive and others think a $45 steak meal, without bar bill, is cheap.  I understand it.  But personally, when I have to purchase something to make-up for my inabilities I expect to pay more, rather than less.

I had a small, Gerber with a great price, but it was too hard to open and didn’t have a pocket clip.  I showed him a Spyderco Delica, too big and too hard to move the blade with his fingers.  I showed him several others but they were too hard to open single-handed and he insisted it had to be a one-hand opener and small.  Frankly, small was his enemy.  With his loss of strength and dexterity, a larger knife would have given him more surface to grip and better leverage, but he insisted on small.  I skipped over the Benchmades with flippers and showed him a nice sized auto.  I thought I had a winning card for this fellow.  Boker makes a small auto for 45 bucks.  Too expensive for him.  I had to admit defeat and send him on his way.

Boker Auto

I don’t think he’ll find a knife to match his rigid expectations.

I also had a fellow with an absolutely beautiful damascus knife that he wanted to sell.  I don’t have a picture of it, but let’s give words a try.

It had a shape similar to a Gurkha Kukri made from 250-some fold damascus steel.  The damascus had strong lines and formed a raindrop pattern.  The blade edge was split into front and back edges by a decorative structure resembling a single 3 inch row of corn kernels still on the cob.

It only took one look to realize that it was a classic wall hanging, ‘barbeque knife’ for the man cave.  My seller confided in me, when I indicated that as much as I liked the knife it wasn’t right for me, that he was in a financial bind.  He just bought a gun and owed his buddy 80 bucks.  Still, there wasn’t a maker’s mark or name stamp on the knife and it just looked too good.  I knew that even for 80 bucks, it might take years to find the right buyer. 

Did I miss the bargain of the show?  Did someone sell everything they had to buy this pearl of great price?  I don’t know.  But I doubt it.