Inherited assortment of coins. Looking for advice

RyneP

Hi Everyone,

A few years back I was fortunate enough to inherit a small collection of coins from my grandfather. I didn't think much of them at the time, but recently I have been able to invest some of my own money into stocks and crypto. Which has led me to begin looking into precious metals as a viable investment strategy.

While I have researched the basics such as how to safely store the coins, and the difference between ETF and physical investment. I am a bit in the dark when it comes to the validity of the coins that I currently own, and if I ever choose to sell what the best options are for me.

I began to document all the coins in my collection into a PDF alongside any information I thought might be useful for collectors or investors. I was hoping someone might be able to read through it and give me any tips on what is currently in my possession.

NOTES:

-I would guess that the coins from the U.S, Australian, and Canadian governments are the easiest to sell, but I am not sure what makes one coin more valuable over another.

-If the validity of certain coins (the 5oz Mexican coin) would be difficult to prove would it be easier to bring those to some sort of smelter to melt down for the metals base value?

-I have begun to purchase a few of my own coins and bars as you will see.

-Orange highlights on the PDF indicate that the weight is not marked on the coin, but based on the size of other coins in the collection the value provided is what I estimate the weight to be

Any information that anyone could provide would be greatly appreciated.

Thanks,
RyneP

logger7

Congratulations for the nice collectible and investment coins. If you want to sell in the short term I would get several offers from reputable dealers.

Tomthecoinguy

I would recommend a coin show, they are great because you can plan dealers against each other.

I didn't look them all up, but I know a lot of them are worth more than melt. I know the early Australian lunar can go for a lot.

291fifth

See if you can find the coins you have in eBay listings. Look only for completed sales and don't pay much attention to "buy it now" prices. If you want to sell them try to find a local dealer who deals in that type of material (many will only want to pay melt for modern issues but you probably have some better issues mixed in with yours.) make sure you know the melt value of all of your coins.

RyneP

@Tomthecoinguy said:
I would recommend a coin show, they are great because you can plan dealers against each other.

I didn't look them all up, but I know a lot of them are worth more than melt. I know the early Australian lunar can go for a lot.

I just did a quick search on one of the Australian lunar coins. Their value seems to be about 3 times the asking price of silver at the moment (very rough rounding of the numbers). Which leads me to another question.

Is that collector's price (the 3 times increase, or roughly $70) something that increases alongside the price of silver?

So for example if Silver shoots from $27 an ounce to $100 an ounce, would the collector value of the coin then shoot to roughly $300, or would the collector then only be willing to pay the flat price of silver for the coin?

I know there probably isn't a 100% rule for this type of situation, but just trying to wrap my head around how the collecting world works.

-Thanks

Tomthecoinguy

@RyneP said:

@Tomthecoinguy said:
I would recommend a coin show, they are great because you can plan dealers against each other.

I didn't look them all up, but I know a lot of them are worth more than melt. I know the early Australian lunar can go for a lot.

I just did a quick search on one of the Australian lunar coins. Their value seems to be about 3 times the asking price of silver at the moment (very rough rounding of the numbers). Which leads me to another question.

Is that collector's price (the 3 times increase, or roughly $70) something that increases alongside the price of silver?

So for example if Silver shoots from $27 an ounce to $100 an ounce, would the collector value of the coin then shoot to roughly $300, or would the collector then only be willing to pay the flat price of silver for the coin?

I know there probably isn't a 100% rule for this type of situation, but just trying to wrap my head around how the collecting world works.

-Thanks

I would say when the premium over silver gets that high, it is really a different market. It may or may not track with the price of silver. I have noticed that generally when the price of silver goes up, the premium over silver shrinks.

I always like to explain it like this. Imagine you are in at an auction, and there are a bunch of collectors, and one bullion guy that is interested in buying it for silver so he can melt it down. If silver is low enough the bullion guy gets out bid. As the price of silver goes up, the collectors have to decide how much they want it. When the price of silver gets high enough, the bullion guy wins the auction. When the bullion guy wins the auction, it means the premium is now gone.

I don't know the future and cannot predict the markets for either Silver or collector coins. It it was me, and I was interested in investing in Silver, I would probably go to a coin show and see if I could trade the better coins, for silver bars, or something more generic like silver eagles.

I would be interested to think what others forum members think of my advice.

Along

Silver just went up and the premium on ASE went up also given increased demand.

RyneP

@Tomthecoinguy said:

I always like to explain it like this. Imagine you are in at an auction, and there are a bunch of collectors, and one bullion guy that is interested in buying it for silver so he can melt it down. If silver is low enough the bullion guy gets out bid. As the price of silver goes up, the collectors have to decide how much they want it. When the price of silver gets high enough, the bullion guy wins the auction. When the bullion guy wins the auction, it means the premium is now gone.

AHHH! This example helps a lot. Thanks!

Since I feel more comfortable in the investing market I will probably look into selling them to a collector in order to move those funds over to ASE or AGE.

Thanks so much for your input Tom.

Only question now is how long do I have to wait for a coin show? haha

tommy44

Only question now is how long do I have to wait for a coin show? haha

If you live in the Atlanta area you can attend one Sunday, September 13. There will be at least three bullion buyers / sellers there.

MrEureka

Just one bit of advice. If you walk into a coin show with a list like that, I doubt anyone will make strong offers unless you're prepared to make a decision on the spot. Better to do your homework online first so you're prepared to do business, one coin at a time.

AUandAG

All modern sets, or coins, that values are very easy to establish. A search of what you have on ebay solds will give you a great heads up on value. You can do it online as well through PCGS or NGC but those prices are for graded examples and yours appear to be non graded. So, a trip over to ebay and scroll down the left side to "sold" and "completed sales" will give you what you want.

MasonG

While browsing the sold prices on eBay, be aware that the dealers you might be looking to sell to are aware of those prices, too. And, for obvious reasons, they'll be expecting to pay you less than that.

Tomthecoinguy

Also, don't get discouraged if you get a lot of dealers just offering you spot for those better coins. It means you have not found the correct dealer. Many dealers feel safe offering you spot, you need someone that understands the market, and has customers that come to them for those kind of coins.

ricko

@RyneP .... Welcome aboard.... You have a good inventory there, and while I cannot assign values, I am sure several are worth more than melt. The advice above (searching ebay completed auctions) is good to get a ball park figure. The condition of the items is also a factor. I know you are not qualified to grade them, but according to your inventory, I suspect many may be in original containers and likely good quality. If you have the time, visit several dealers, after you have assigned the general value to each piece and know the overall value of the collection. Dealers will, for the most part, be somewhat lower than the value you arrive at with research. Good luck, Cheers, RickO

derryb

ebay completed sales will tell you what buyers are paying for specific coins. Use the "advance" link in the top right corner of your "my ebay' page to search each coin. Enter a basic description of the coin and select "sold listings." The more detailed your description the more limited the results.