Some Questions From A New Collector
beerpilot
Posts: 3 ✭
Hello, I have some nOOb questions and am hoping for some help. Some background for my questions. My wife collected coins, for pleasure but she knows almost nothing about them. I bought the majority of the coins to satisfy gift needs for Christmas, birthdays, etc. I knew nothing about what I was buying, just got what caught my interest. I bought most of the stuff from Blanchard. Pretty lame I know, probably a lot of laughing and head shaking going on right now. All those coins are numismatic, or at least I expected them to be.
That said what got her started was her Dad gave her a bunch of U.S. Mint American Eagle Silver Dollars, a couple hundred of them. They are still in the plastic containers and as far as I can tell are bullion grade.
I recently got interested because we were thinking about liquidating them, so I'm documenting and researching, etc. Unfortunately I'm getting interested and instead of liquidation this may become a new hobby (like I need more stuff to do).
So here's the questions (for now):
1) These American Eagle Silver Dollars, do they just go for the current price of Silver or do they have other value?
2) A few of these Silver Dollars came in cards that say they are uncirculated. Are they more valuable or just a gimmick?
3) From #2 above, all these coins are probably uncirculated, is this a thing or not?
4) I have a bunch of late 1800 Australian Sovereigns that are in cheap plastic sleeves. Is there value in having them graded?
5) Last but not least, in my research I'm looking at retail values on the web just to try to get some idea of value. Is there a rule of thumb you guys use for this retail value versus my resale value? I'm guessing around 50%, except perhaps the bullion stuff.
A long message but will appreciate any responses, it's a steep learning curve.
Comments
Welcome to the forum, beerpilot. This is a quality site and a good place to learn about coins.
I will answer number 1 and five as best I can.
Most of the silver eagles sell for near what the silver content is worth. Some though are worth much more...substantially much more. Ebay is a really good place to assess value. Enter the date and type and check the completed prices. This can be a bit complicated as there are many similar varieties to this series. A copy of the coin Redbook offers a good accounting of the different types (though the pricing can be unrealistic.)
@beerpilot
Welcome to the PCGS forum!
Many questions. This is good.
I will offer this. Get good resource material, example, coin books. There are many and books on U.S. coins is a good place to start.
Additionally, on-line resources, our hosts main website has a good place to start to give you an idea of the latests auction prices for many of the items you mentioned. PCGS Coin Price Guide.
I am sure you will get many more responses from the knowledgeable experts that frequent this forum.
Have fun in the hobby of coin collecting!
You should also consider looking up a local dealer to ask question directly as well as viewing their inventory for more perspective.
That being said there are WIDELY different abilities between local dealers. First look for a PNG (Professional Numismatists Guild) member. They are bound by an agreement through the society for a higher ethical standard. Go to their website PNGdealers.org for more information.
One does not have to be a member of PNG to be reputable. One clue to being in a good dealers shop is the presennce of a library. Regardless, check out your local dealer through the ANA, PNG, BBB or other trusted organization. Referrals from other collectors and information through this chat board will also help.
Above all, find a place to share you enthusiasm for the hobby like a local coin club and the ANA (American Numismatic Association). Your experiences in the hobby will be heightened through sharing experiences with other like minded collectors.
A: The year they spend more on their library than their coin collection.
A numismatist is judged more on the content of their library than the content of their cabinet.
@beerpilot
To get help to number 4, I would recommend posting into the World and Ancient forum.
https://forums.collectors.com/categories/world-ancient-coins-forum
“4) I have a bunch of late 1800 Australian Sovereigns that are in cheap plastic sleeves. Is there value in having them graded?”
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Welcome @beerpilot ..... good luck with your marketing event and have fun sorting it out
Sounds like a great predicament to be in!
If you figure out what you have you can keep a good sampling and then sell off duplicates to finance new purchases.
I'd post a couple pics here so people can help you figure out if you have straight bullion or something else.
Hopefully you mean 1800's sovereigns from Australia as the first "new" British sovereigns weren't until 1817. Most of the Australian one were from the very late 1800's or early 1900's. On the St George side, hidden in the image above the date will be a mintmark of either M, S, or P. In good condition, they are worth a slight premium above gold value.
welcome ... I like your handle !
the "uncirculated cards" are generally marketing gimmicks ... yet given the coin in question most could be uncirculated (typically MS60 to MS64 on the grading scale from 01 (poor and barely there) to 70 (pristine with no marks) "layman descriptions")
Guidance for reference materials, red books, prior auction results and PCGS price guide (available on this site) are spot on.
Pictures of the sovereigns will be helpful for the world & anchient forum
education and more education will help you assess your current collection and future acquisitions and sales.
Good luck and welcome to the quest !
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" have a bunch of late 1800 Australian Sovereigns that are in cheap plastic sleeves. Is there value in having them graded?”
That's kind of like saying "I have an old Chevy in the barn, is it worth anything"?
Maybe...
Sometimes I think that animals are smarter than humans, animals would never allow the dumbest one to lead the pack
@beerpilot I'd like to strongly recommend you fly with a serious beer can holder.
Need I remind you of Airport
I hope you you have fun collecting coins and, for me, I would keep all that bullion you describe.
Lousy time to choose to sell it all.
If you can wait until PMs go up appreciably the difference in value will buy some nice collectable coins.
JMHO and
_
"Inspiration exists, but it has to find you working" Pablo Picasso
Yes they are all 1890-1898 or so. That comment about mintmark is exactly the kind of thing I was hoping for. I have all that figured out pretty well for US stuff, the world stuff is a different story. I attached a pic since a few people mentioned it.
BTW, the handle is because I'm a (hobby) pilot and homebrewer, but hardly ever do them at the same time. I'm better at the beer part than the flying part. Beer can holder, good one.
Use the google, type in key words, almost everything you want to know is on the www. Try different key words. Dates and one or two words should be enough. There are many specific databases for most coinage. Don't be in a hurry if you can avoid it. Condition is important and original packaging can be helpful. Peace Roy
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And please make sure you are handling the coins properly. I have no reason to think you aren't, but you might have some nice stuff there so best to maximize their preservation.
Welcome to the forum @beerpilot
Those are great questions
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Bad transactions with : nobody to date
Welcome. You came to the right place.
1 The American Silver Eagles have become a highly collectable series. There are some date, mint mark and finish combinations that are quite valuable, but if you only have the regular pieces that “came in tubes,” most of them are priced at a bullion related level. There are exceptions, however, and you should consult a price guide to note the better dates.
2 American Silver Eagles in cardboard cards with “Uncirculated” on them don’t carry any premium. The only pieces that MIGHT have a premium are in plastic holders, like PCGS slabs.
3 Since American Silver Eagles don’t get into circulation, all of those pieces probably are Uncirculated. The only ways these coins get damage is from numismatic abuse (e.g. improper dipping, artificial toning) and mishandling. Large numbers of American Silver Eagles are in high grades like MS-66 to 69.
4 I take it these sovereigns are gold coins. As long as they are genuine, the most common value is probably melt. If they really are dated 1800, I doubt that they are genuine. There is a discussion about this on the boards a few days ago. Some of these coins were made and used when the real thing was in short supply. If the gold content is there, they have value, but not much if any numismatic value.
5 There are no solid rules of thumb about wholesale vs. retail numismatic values. It varies with the series and coin. If it’s bullion coins, the difference retail and wholesale should be fairly small. Bullion should be bought at a low mark-up, especially if you have purchased them in quantity. Also the larger the bullion coin, the lower the mark-up should be. For example, the mark-up on 10, one tenth ounce American gold eagles is a lot more than it is one, 1 ounce American gold eagle coin.
I thought maybe you flew beer around. Or would that be Pilotbeer?
Try some of the big precious metal dealer to get some idea on retail prices, like APMEX. They often have gold sov's available -- some are just a bit over spot. But there are some more valuable sov's out there by date/mint mark. Yes, eBay is a good study for coin values. Seller beware! Oh....and WELCOME!
For gold sovereigns, anything with a Canadian or Indian (and to a small degree South African) mintmark will be worth a bit more than melt due to less being made. The Indian is a one year coin. Australian seem to be going for the same as English sovereigns. Anything pre-Victoria (George III, George IV, William IV (1817-1837) will be worth much more than anything Victorian or later. Shield back Victoria's are worth more than St George back ones.
It's a fun set to put together. There are 13 main ruler busts (George III, George IV, William IV, Victoria Young Head, Victoria Jubilee Head, Victoria veil (old) head, Edward VII, George V, and five different QEII). Add in mintmarks and special issues and the number jumps to over 200 different varieties.
Welcome to the boards! I always liked gold Sovs - the preferred "cash stash" of Special Forces worldwide!
If you Google "world coin price guide" you should get a link to a site run by another company (we call it ATS) - I won't post the link directly out of respect for our hosts.
I like the site for it's ease of use, and for relative values; the values shown are, much like Krause, wildly inconsistent with reality.
Keep your nose up and wings level!
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
If you just have regular Silver Eagles (not proofs or special mint sets) then they are worth a few dollars over melt but not much more for "most" dates. At this time, some of the dates have some numismatic value like the 86's, 94's, 95's and 97's but the highest valued date is the 96 by far.
Is this what you were referring to when you mentioned ATS? I don't really know what ATS is, sorry. Automatic Transmision Service, or below? I still dont really know I guess I am stupid.
This was on the NGC web site
World Coin Search
The World Coin Price Guide is a complete catalog of values for World coins from 1600 to date. Created by NGC and Krause Publications’ NumisMaster, the price guide pages are arranged by Krause catalog numbers and include values, images and specifications such as weight, composition, engraver and current bullion values. Found at NGCcoin.com, it is the most comprehensive online valuation guide available, and is free to all users.
Ohhh and welcome to the board I myself have a bunch of those Silver Eagles which I bought from APMEX and I paid a small $3.00 to $4.00 over spot price. But right now with Silver Soooooo low I personally would not sell at this time. I mean if Silver were to rise to some of the prices of past just think how upset you will be. But then maybe it will drop more we just never know.
@beerpilot ATS = Across The Street
Thank you Hemisperical now I understand it was slang talk then, I guess I am just not up to all those abbreviations.
By the way Beerpilot, this board has a lot of collectors on it. If you want to sell some of the coins, this is probably the best Venue IMHO. With few exceptions the people here are honest and straightforward and undeniably the nicest you'll ever meet.
Welcome to the board.
Bob Sr CEO Fieldtechs
Most welcome. It did take me awhile of searching to figure that out.
I never use the "N" word on the PCGS Coin Forum
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
BustDMs advice of joining a local club and the ANA is very sound.
I second all that!
If you don’t have a need to sell, consider a long-term hold while watching what the spot price of gold and silver do.
As your research probably shows, precious metal stackers love both the Silver Eagle and the gold sovereigns!
You are in the wonderful position of having a solid bit of bullion. If you must generate some cash, or want to use the precious metal value to fund an entry into the world of the numismatics of classic coins, then consider holding back half or more of your stash for a day when PM values will sky rocket.
For your possible new hobby: the world is your oyster!
Welcome to the CU coin forums!
@beerpilot.... Welcome aboard.... Good questions and some good advice. Get a Redbook and use the price guide on this site...then, do some research on completed auctions on ebay. Hold on to the silver and gold for a while, market is low on precious metals right now. Cheers, RickO