Archive for the ‘Collecting’ Category

Elongates: Familiar Shores

Friday, November 15th, 2024

You knew it was coming… here are the ‘pennies’ from Japan:

A quick look at one of the collectors websites shows many machines scattered across Japan. As usual most of these are at tourist sights, and the coins shown above were no doubt pressed at such machines.

The Japanese machines dispense blanks into the die and are all electronically made (so no turning of cranks). They’re a little more expensive as well, at ยฅ100 per coin. Unlike US machines they usually only offer a single image. They coins are notably higher quality, with lots of crisp detail, such as the above from the ‘Odaiba Takoyaki Museum’.

Looking ahead to our next trip (in a month) I see a few machines at some of the locations we will attend. Maybe I’ll be adding to this collection sooner than I expected!

And finally we end this showcase with the coins pressed in Australia. Once again these use blanks instead of real coins, and the quantity I have suggest the machines are reasonably common.

As usual these are mostly found at tourist locations, but I don’t recall if they resemble the US machines (with multiple designs) or the Japanese ones. I find it amusing the relatively small gift store at The Big Banana had a coin machine: I suppose they’re inexpensive to manufacture and presumably pay for themselves since these coins are cheap souvenirs.

I’ve got a little more to say about this collection, but I’ll save those thoughts for a final post tomorrow.

Elongates: Amusements & Animals

Wednesday, November 13th, 2024

A shorter post today, wrapping up the rest of the American pennies. We’ll start with these from Disney and Universal Studios:

These were obtained at Disney and Universal parks and I think one of these may be the oldest pressed penny I own. Specifically, this one:

If my memory is correct, the above was pressed when we first went to Disney (in Florida) in 1996, which I just learned was only two years after they first added penny machines to the park. In the parks the pennies cost $1 (as opposed to $0.50 almost everywhere else) and I’ve read that today there are dozens of machines across all the Florida parks, with about 240 unique pennies available. If you’re a diehard penny collector, you’ll have a great time hunting them down at Disney!

It seems Disney pennies are particularly popular with collectors, and in the 30 years since they added the machines there have been an astonishing 2500+ different pennies! Since Disney owns so many licenses now, this includes such examples as Star Wars, Marvel and even Tron pennies (none of which I own):

It’s also worth nothing that Disney parks in other countries have pressed ‘pennies’ as well, but I’ll get back that in a few days…

As for the Universal coins, I’ll spotlight this one:

Shortly after we went to Universal the ET ride was closed. We knew it was on its last legs and rode it several times, enjoying it quite a bit, so this penny – which would no longer be available – is somewhat nostalgic.

Let’s move on now, to animals:

Zoos are common locations for penny machines, and the above are some examples of coins pressed at zoos or animal parks. Many of these don’t even have the name of the zoo on the penny and I like this. Australia never had pressed coins when I was a kid, but I imagine if they did I would have preferred the animal ones over all others…

Except maybe for the dinosaur ones! ๐Ÿ™‚

Elongates: USA

Tuesday, November 12th, 2024

About 100 of the pressed pennies in the collection are from the USA, not including the NYC ones I covered yesterday. While a few are hard to decipher, I think I have pennies from eleven states: New York, California, Oregon, Pennsylvania, Massachusetts, New Hampshire, Florida, Connecticut, Vermont, Nevada and Hawaii.

These can be divided into two broad groups: attraction specific and location specific. The above are examples of the former, which were pressed at tourist attractions in Salem, Rochester, Gilroy and Orlando. Salem in particular was a treasure trove of penny machines, and there’s at least a dozen different ones in the collection.

Here’s some more pressed at tourist attractions. You can see the variety of size here, which varies depends on the strength of the machine. When you turn the crank on the older machines you can feel the gears turning as the die squashes the penny, but many of the newer machines are electronic and the pennies they vend are usually of identical size.

The above are some location-specific examples. Strangely, considering Bernard and I have been there a few times, there’s only a single Vegas penny in the collection. The detail on the one on the right (from New Hampshire) is extremely high, which I noted since I’ve read on collectors sites that some believe the overall quality of the dies & machines is declining.

A few years ago on our northeast road trip Kristin and I hunted pennies for Bernard as part of a deal I’d made with him. We used a website to track down machines, prepared a bag of quarters and clean coins, and in those few days pressed a total of 72 pennies! It was fun finding new machines and a little disappointing when we found broken ones.

I believe the above two were obtained on that trip, and they’re the only ones I have with sports teams on them. Usually I never would have pressed these, but my goal was to astonish Bernard with an abundance of new coins ๐Ÿ™‚

Pennies often share themes, and I’ve got a few with the US flag and sharks, but the most common motif in the collection is mermaids! All five are shown above, from four different cities. You can see the ones from Santa Barbara and Santa Cruz have the same art, albeit at a slightly different size.

I’m not done with US coins, and tomorrow I’ll have a few subsets. Including perhaps the most ‘valuable’ coins in this small collection…

Elongates: NYC

Monday, November 11th, 2024

This is a pressed penny:

The first ‘elongated penny’ dates back to 1893, where for the first time a machine squashed pennies into souvenirs at the Chicago Worlds Fair. Since then people have been pressing and collecting them and tens of thousands of different designs exist.

The typical machine looks like the above: you put in two quarters (the cost) and one penny, then turn a crank and a die squashes the penny imprinting a picture or phrase onto it as a souvenir. Most machines have 4 or more styles available, so getting all four ends up costing $2.04. These machines are often seen at tourist sites here in the USA, and variants exist in other countries worldwide.

Collectors store these pennies in dedicated books and folders, and one such enthusiast was Bernard. Now though, his collection has been passed onto me. There are several reasons for this, but I think the two most pertinent are:
1) Bernard has many talents, but unlike myself he doesn’t have the heart of a true collector.
2) The vast majority of the pennies in his collection were purchased and pressed by me!

So in essence Bernard was taking care of my penny collection for a couple of decades, and now he’s passed them back to me ๐Ÿ™‚

After removing them all from their little books, sorting, cataloguing and putting them all back into a much larger book it’s time to showcase this collection of 271 pennies, and each day this week I’ll have a variety to show.

We’ll start today with pennies pressed in New York City.

There are over 60 different pennies in this collection that were obtained in NYC, often from tourist sites but some from various shops. The above 16 were all pressed using a machine at the very top of the One World Trade observatory that I visited this past summer. (The photo is black and white since the reflective pennies are difficult to photograph and this seems the best way to show detail.)

This photo shows famous tourist sites in pressed penny form: Times Square, the Empire State Building, the (old) World Trade Center and a Kong atop the ESB. At the start of this post you saw one of four different Statue Of Liberty pennies in the collection. I’ve also got pennies showing Rockefeller Center, Ellis Island, Broadway and the NYC skyline.

Pennies aren’t just at tourist sites, and several big shops in NYC – usually near Times Square – have machines inside for tourists to use. From these we obtained a shocking dozen different M&M’s pennies, a few Forrest Gump pennies, a variety of portraits (from Madame Tussaud’s) and a few tourist elongates emblazoned with the Ben & Jerry’s logo.

There’s also cute examples like these. As mentioned the vast majority of these pennies I had pressed myself, and my rule (since I was always sending them to Bernard) was to prioritize tourist sights over the ‘lucky’ type but in actuality this sort of thing is common in the machines.

At almost 25% of the collection the NYC pennies are the largest subset, but in many ways they are the least interesting. As this week progresses you can look forward to a wide range of unusual pennies from other locations, and even from countries that don’t even use pennies at all. Stay tuned…

Bean Counting

Sunday, October 6th, 2024

I spent many hours this summer in the attic, emptying out boxes that had been sealed in some cases for decades, and disposing of lots of things that we didn’t need to keep anymore. I ended up reducing the attic storage by a factor of about 75%, which was very liberating. In a few years I’ll do another pass and likely toss out more.

The last step of this years clean-out was today, specifically taking care of this:

This is our Beanie Babies collection, purchased during the fad in the late 1990s.

A lot has been written about the Beanie Babies phenomena, but the quick history is that these little stuffed animals became popular in 1996 and very quickly it seemed everyone was collecting them. They were sold almost everywhere, created long lines and shopper hysteria when new ‘waves’ were released, and spurned an entire industry around them as people latched on to the idea they were not just toys, but investments that would one day make them rich. And then in 1999 the whole fad fell apart and by 2000 almost no one cared about them any more, and the world moved on.

We bought them for a few years, then put them in a box and forgot about them until now. Had you asked me how many we had I would have said a few dozen, so I was quite surprised to find we had 111 of the things:

It is surreal to think back on that era. People were legitimately insane for Beanie Babies (there’s at least two good documentaries about them), and in particular went crazy for the teddy bear types. I always found the bears repellant, but we somehow managed to get 9 of them:

People were selling some of the bears for hundreds of dollars in those days. Beanies were about 10% of all eBay sales during the height of the fad, and by 1998 the madness was worldwide. We never bought in to any of this, since it was abundantly obvious since with everyone buying them there wouldn’t be a sellers market in the future ๐Ÿ™‚

Some of our Beanies are unusual – including one that isn’t even an animal – but these mostly come from the end of the fad when all the normal animals had already been made.

I don’t like any of these and can’t remember ever buying them. In fact both of us were surprised by some of the ones we own that we don’t find attractive in any way. I suppose we just bought them because they were inexpensive.

That said, one of ours has a $15 price tag on it!? It’s hard to believe we ever paid that and indeed I don’t recall every buying one on the secondary market (like a toy show) so this remains a mystery.

McDonald’s got in on the action as well with Happy Meal ‘Teenie Beanies’ toys several times during the craze. We have 18 of these, from the 1996, 1998 and 1999 series. As with the full sized beanies, these were extremely popular and sought after at the time. In 1996 the first series was the most successful Happy Meal promotion McDonald’s had ever had to that point!

As you can see the McDonald’s ones (on left) are about half the size of the normal toy (in the middle). At the right is a ‘Beanie Buddy’, and no I don’t know why we own that either.

A small few of ours have ‘tag protectors’ on them to keep the red cardboard tag on good condition. But we also had a pack of dozens of protectors that we never bothered putting on, which perhaps shows how much we valued this ‘investment’! Some collectors bought elaborate storage cases or even sealed them in lucite. It was important to keep the investments in tip top condition ๐Ÿ™‚

So let’s talk money. In 1996 the suggested price of a Beanie was $5, and it seems this continued until at least 1998. We have one from 1999 with a $5.50 price tag, but that was probably just a store marking up due to demand. I think it’s reasonable therefore to estimate – at the low end – that we paid about $555 for our normal Beanies plus at least $36 more for the McDonald’s ones (Happy Meals were $2 in those days). The above photos therefore represent an ‘investment’ of about $591.

I’ll say again that some people truly thought these would make them rich one day, and such beliefs continue through the endless eBay auctions where sellers don’t understand the market died 25 years ago and never recovered.

The truth is Beanie Babies are worthless today. Every single one we have can be obtained for under $1 on eBay right now, and collections are selling for much less than $1 per Beanie. If you search you’ll find that the vast majority of auctions for these things don’t actually sell at all, since everyone has them in their attics and no one wants them! I’m sure there’s a few diehard collectors out there seeking holy grail error Beanies (and good luck to them), but it doesn’t change the fact that 99.99999% of the things now retain no value at all.

So our $591 we spent between 1996 and 1999 has now become… well maybe $50 if we successfully sold them on eBay, which is not what anyone would call an investment! But what if we’d ignored the Beanies entirely and spent our $591 back in 1999 on a true investment like the Dow Jones or Apple stock?

If we’d spent $591 on a DJIA mutual fund in December 1999 we’d have about $2458 worth of stock today.

If we’d spent $591 on APPL (Apple) stock in December 1999, we have about $171,800 in Apple stock (yes you read that correctly) today.

But we didn’t, and today we simply have worthless Beanies! We selected a ‘favourite’ each (the term is used lightly) – Legs the frog for KLS and a dubiously coloured Platypus for me – and put the remaining 16 kg of them into a different type of permanent storage:

Goodbye Beanie Babies. We’ll never forget you.