new collection

I recently came into a fairly large collection. It is fairly random mostly american coins. My question is where do I get started with anything I need to do with it? I have started to organize them into similar coins to get an idea of exactly what's there. None are graded, most are just loose but some do look nice. I have not seen anything extraordinary, possibly a few coins worth $200+ but I am not certain.
Should I take the collection somewhere to get it looked at? Is it worth getting some of them graded? What should I do first?
Thanks for the advice.

Comments

  • BillDugan1959BillDugan1959 Posts: 2,338 ✭✭✭✭✭
    edited December 14, 2018 10:24PM

    'Came into' is indistinct. I will assume you mean inherited.

    Do you have any strong personal interest in collecting coins?

    Or is your interest in liquidation?

    If it is the latter, more than the former, then I would be asking forum members for recommendations about reputable coin dealers in your area.

    I have seen heirs struggle with an inherited collection for up to two years, and then they got considerably less than they would have had they simply went to a first class, well-capitalized, reputable dealer at the very beginning.

    If you feel a huge need to specifically know what you have before proceeding, then people here could likely recommend a qualified appraiser in your area. This costs money, but if you totally have to know what you have in all respects, then paying for a written appraisal may buy you peace of mind.

    There is nothing wrong with wishing to liquidate if you don't have a compelling urge to collect.

    If you have already decided to collect, then you need certain sources of information (which we can specify) and then you need to start reading. Attending a decent coin show would be in your near future too.

  • HemisphericalHemispherical Posts: 1,732 ✭✭✭✭✭

    Welcome to the PCGS forums @Mjwags!

    IMHO. Get the US Coin Red Book. There are many other books but this is an inexpensive good start.

    Also a forum member has started a thread on some good reference material.

    https://forums.collectors.com/discussion/1006619/sticky-this-book-index-books-to-read-on-numismatic-series-and-varieties#latest

    And of course you can post your questions to this forum. You will find many here who are helpful.

  • @Bill
    Inherited, correct
    I have been a collector of sports memorabilia for years but not coins. It is a fairly large and random collection and could have some value. I would most likely be looking to sell most if not all of it. I would like to keep some key pieces and possibly start a collection of my own.
    Without having specific knowledge on a value, wouldn't it be best to get an appraisal first?
    Could I trust that someone would offer "fair value"?
    There are some coins that look really good, are they worth getting graded?
    Thanks again

  • CatbertCatbert Posts: 2,393 ✭✭✭✭✭

    @Mjwags said:
    @Bill
    Inherited, correct
    I have been a collector of sports memorabilia for years but not coins. It is a fairly large and random collection and could have some value. I would most likely be looking to sell most if not all of it. I would like to keep some key pieces and possibly start a collection of my own.
    Without having specific knowledge on a value, wouldn't it be best to get an appraisal first?
    Could I trust that someone would offer "fair value"?
    There are some coins that look really good, are they worth getting graded?
    Thanks again

    To answer your questions, you're going to have to provide more data on what you have. Respectfully, do you know enough to find if your coins have a mintmark? If not, your first step is to identify what you have and, as said earlier, you should buy a Redbook (ignore the inflated value data) to give yourself a general education.

    If you have a basic knowledge level, then you should provide more detail on the specific coins you possess and then we can guide you accordingly.

    "Got a flaming heart, can't get my fill"
  • MjwagsMjwags Posts: 9
    edited December 15, 2018 1:14PM

    I have just started to go through the collection. As mentioned most are just in random boxes with no rhyme or reason. I do understand mint-marks but I haven't really started to look that detailed. Most look to be fairly common years and denominations. There are some wheat pennies, bicentennial quarters, I'm guessing about 2 dozen+ walking liberties, a few Morgan dollars, Kennedy half's, some liberty head dimes and a few buffalo nickles plus more.
    There are a few sets that are not finished (common's mainly), is it worth trying to finish them?
    I will look into the Redbook and go from there. Thank you

  • BillDugan1959BillDugan1959 Posts: 2,338 ✭✭✭✭✭
    edited December 15, 2018 1:55PM

    The Redbook is a good place to start and the book is inexpensive.

    Understand that Redbook prices represent Retail.

    Read the "How to use this book" comments which are found on Page 8 of the 2018 Edition.

    Read the comments about the Bluebook too - Bluebook prices represent what Dealers will pay.

    A lot of people who use the Redbook never read Page 8, which is a mistake. Having never read Page 8, they have misconceptions about what the prices in the book represent.

    The Redbook is a wonderful resource, full of information. Not just prices/pricing, but lots of other information too.

  • BillDugan1959BillDugan1959 Posts: 2,338 ✭✭✭✭✭

    Slightly OT from this thread:

    Gee, it's almost like I've had a stroke!

    How do I NOT have a 2019 Redbook?

    Mine is only 2018!

    How did I not notice? This book is in my hands almost every day!

    I have a 2019 (4th Edition) Mega Redbook!

    Mr. Bezos just got a very small order for the 2019 edition. $11.93 total.

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