Pat Gallagher / The Valdosta Daily Times Jeff and his wife Bonny Highman own and opperate South Georgia Coin & Supply specialising in rair gold and silver coins.

VALDOSTA — Staring at a 1795 U.S. government-minted silver dollar is like gazing back in time, like getting an instant view of history itself. Never mind that the actual coin is worth $4,000 today to serious coin collectors.

For Jeff Highman and his wife, Bonny Highman, who recently moved their coin shop from Port St. Lucie in South Florida to Valdosta, the value of the coins and currency they stock and trade is important for business.

But the history of the money is what keeps it interesting.

That 1795 “bust” silver dollar is the oldest coin in Highman’s new coin shop. But it’s just one of hundreds of collectable coins and currency that have found their way out of history itself into the shop’s inventory.

The hurricane-weary Highmans moved to Valdosta from South Florida in August 2005, but didn’t find the right location for re-opening their coin shop — now South Georgia Coin and Supply — until March 2007.

When they’re not traveling to the 30 coin shows they work from coast to coast each year, you’ll find the Highmans in their shop at 3323-I Bemiss Road. Even if you’re not a serious coin collector, you’ll find their stock of coins and currency incredibly interesting if you like looking at real history.

Money in coin or paper currency form has been the tool of commerce in this land since before the U.S. was founded, Highman notes. But he reiterates that although he doesn’t mind the curious visitor or the novice collector, his shop is mostly geared for the serious collector.

“I’m very intrigued by the history of each item. I’ve never been a collector myself, but I’m more of a dealer. It’s the history of the items that makes this interesting for me,” Highman said.

“I guess you might say this is like a museum because of the historic nature of the stock. But this isn’t a museum. I like to move this inventory out of here when I can,” he says with a chuckle.

Highman says his shop is the only full-time, full-service coin shop open in Valdosta. No collection is too small or large for him to consider buying, and he offers free appraisals to anyone who believes they may have a valuable coin or paper currency item in their possession. Verbal appraisals are free, but a written appraisal comes with a fee.

But don’t take it personal if that old coin of yours doesn’t gain a high value grade from Highman. He is certified in his skill to determine value and has 20 years of experience doing it. It wouldn’t be the first time if he had to let you know that your item isn’t worth a plug nickel.

Highman is a member in good standing with the Georgia Numismatic Association, the Florida Numismatists and the American Numismatic Association. A membership in those trade organizations means that the operator agrees to abide by a strict code of ethics, and a violation of those ethics can cause the member to lose their membership.

“It’s a matter of trust,” Highman said. “If someone comes in here and I pay them $200 for a coin that I know is worth $700, and they find out I took them down the road, they could file a complaint with any one or all of those organizations, and I could lose my membership. So membership is a way to profess my professional integrity.”

He said he’s seen plenty of people leave disappointed when they are told their money isn’t valuable. Some even resort to insults. “‘You’re a thief,’ they’ll say, but then they’ll be back in the next week trying to sell it to me for what I told them it was worth because they found out from another collector that I was telling them the truth and they even got a lesser value on the item quoted from them,” Highman said. “I’m used to that. I don’t take it personal anymore.”

More often, however, Highman said the other joy of his work is watching the happy reactions when an unsuspecting person finds out their old money is worth thousands of dollars.

“I just love to see the facial reactions when I tell someone that their collection of coins is worth $40,000, and they had no clue that they were worth anywhere near that much,” Highman said. “That happens often enough, and I just love to watch their faces light up.”

So bring in those old coins or paper money you’ve been holding onto. But whatever you do, don’t attempt to clean the money up thinking it will add value. More than likely, your attempt to shine those coins will achieve the opposite, Highman said.

“I had a woman bring in a 1942 proof set of coins. It was worth about $1,000 until she took Comet cleanser and a toothbrush and tried to shine up each coin,” Highman said. “She said she spent half the night cleaning the tarnish off the coins so they’d be worth more. Unfortunately, her work dropped the coins value down from $1,000 to about $100.”

Tarnish, or “tone” as it’s also known in the coin trade, isn’t a bad thing, Highman said.

That 1795 silver dollar that’s worth $4,000 is almost black with “tone,” he notes.

Paper money can be very valuable, too, and Highman includes several valuable paper currency items in his stock, like the $500 and $1,000 bills that the U.S. government no longer makes as a way to battle the illegal drug trade. A $1,000 bill, for example, can be worth between $1,500 to $5,000 depending on its condition, year of print and quality, Highman said.

“A crisp, ungraded 1965 or 1966 $1,000 note will go for big bucks,” he said.

Old paper Confederate money that was worthless near the end of the Civil War is now very valuable and also is becoming more and more rare. But Highman has some that he doesn’t keep on site.

The most valuable set of coins he offers today is a complete set of Morgan silver dollars. The set has more than 100 coins and is worth more than $60,000.

He also has paper money your grandpa might recognize as “horse blankets.” The money got the nickname because it’s larger in size than today’s paper money. The U.S. government printed these large bills up until about 1923, Highman said.

“Your grandpa needed a larger wallet because he had larger bills,” Highman said. “They said the bills were so big they could cover a horse.”

The debate of whether the United States should stop making pennies interests Highman. Today’s pennies are worth less than pennies made before 1982 because they stopped using as much copper to make the coins. A penny made before 1982 is worth a nickel because of its copper content. Today’s pennies cost more to make than they are worth, Highman said.

“Should we stop making pennies? It’s probably a good idea,” he said. “But it’s a hard sell. Regardless, it’s illegal to melt the older pennies for the copper.”

Highman seemed more interested in getting rid of $1 bills because he says the bills defeat the purpose of minting $1 coins.

“Until they stop producing dollar bills, the dollar coin will never be accepted,” he said. “In Canada, they stopped producing the paper for $1 and $2, and instead mint coins known as loons ($1 coins) and toons ($2 coins). You have to use the coins in Canada. The same strategy would work in the U.S.”

Highman also collects the bank bags from around the country that coin and currency collectors often use to bring in their collectibles to him, Highman said. He props up one of his favorites, a zipper bag from the now defunct and non-existent First National Bank of Valdosta, and another zipper bag from an New Mexico bank. One wall in the shop is adorned with the bags.

Highman also keeps stock for collectors, like coin books, and has an ample library of research books and materials for helping him determine value.

“Over the years, I have handled millions and millions of dollars worth of coins and currency,” Highman said. “I love being here in South Georgia, and I invite anyone who either is a collector or would like to become a collector to come by and see us. Or maybe you just have a coin you’re not sure is collectable. We try to meet the needs of any customer no matter what the level of interest.”



Q: Is coin collecting a hobby that’s growing in popularity in the United States?

A: For sure. Ever since the introduction of the Statehood Quarter Series, the hobby has been on a steady increase and shows no sign of slowing.



Q: Do you ever have foreign non-U.S. residents come in to try to collect coins?

A: No, I haven’t. However I have been asked if I am an Exchange Office for Foreign Currency/Coinage. I do not exchange currency/coinage, but the international airports will exchange currency only.



Q: If there was one coin or paper currency note you could collect that you’ve not been able to find yet, what would those be?

A: There was supposed to have been 1964 Peace Dollars struck by the U.S Mint. They were supposed to have been melted before release. It would be great to find one of those.



Q: What’s the worst scam you’ve seen in the coin collecting industry?

A: Misrepresentation of product. By that I mean selling grossly over-graded coins that are uncertified by a reputable third party grading service for substantially more than they are worth. It’s only when the buyer goes to sell their coins do they realize they have been taken to the cleaners.



Q: Can people come to you to find out how to start collecting coins or are there classes taught on it somewhere?

A: I am happy to offer suggestions. The Red Book of U.S coins is a great primer for those that want to learn the history/mintage/retail pricing of United States coins.



Q: Have you ever had any famous people come in to look for a coin or currency or to bring you a rare collectable?

A: Yes, I bought a collection of coins from the wife of the late Emmitt Kelly. Also, I have purchased coins from the Buddy Ebsen Collection and the Ted Binion Hoard of Toned Silver Dollars.



Q: What’s the weirdest thing that’s ever happened to you while operating a coin shop?

A: It has to be the time a woman came into my shop in Port St. Lucie, Fla., and had cockroaches come out of her purse by the droves. I spent the next hour killing them and cleaning up. No, I didn’t buy any coins from her either. I thought I was on “Candid Camera.”



Q: Is it good to be on higher ground out of hurricane-ridden Florida?

A: Yes and I know you are happy to be in Georgia as well. Twenty years in Florida was enough for me, and I love Valdosta.



Q: Have you noticed a high or low local interest in coin collecting from South Georgians, as compared to your Florida customers?

A: I have had many customers express happiness that my shop is open in Valdosta. They say that I am filling a void that has been here for many years. They have made me feel very welcome to the area.



Q: What are your goals for your business?

A: I am here for the long haul and want to be an asset to the coin collecting hobby as well as the community for many years to come.



Q: For your wife Bonny: You work side by side with Jeff. Are you a coin enthusiast?

A: Yes. I have a soft spot for high relief $20 St. Gaudens — the most beautiful coin ever produced, in my opinion.



Q: What should people do who believe they have in their possession valuable coins or currency?

A: By all means do not clean the coins in any way. Contact me and I will be happy to evaluate the coins in person at my shop. I can be reached at 229-245-RARE (7273) from 9:30 a.m. to 4:30 p.m. Monday through Friday.



South Georgia Coin and Supply

Owner: Jeff Highman

Address: 3323-I Bemiss Road, Valdosta

Phone: 229-245-RARE (7273) or toll free at 1-877-265-7273

Hours: 9:30 a.m. to 4:30 p.m. Monday through Friday