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Help! Inherited HUGE coin collection. What now?

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  • WAYNEASWAYNEAS Posts: 6,933 ✭✭✭✭✭
    edited December 1, 2020 6:38PM

    @BAJJERFAN said:
    I recall a local club member who worked in a con shop. His boss would buy all sorts of stuff like that and he'd have to go through it. He thought it was filthy, despicable and disgusting some of the stuff that came through.

    con or coin lol
    typos can kill you sometimes

    Kennedys are my quest...

  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭
    edited December 1, 2020 6:42PM

    varieties & errors.

    may be in there.

    may be an off center strike in there.

    maybe a 1972 type 2 eisenhower dollar... out of maybe 100,000 of them total...

    if he smoked ... if ... ( https://www.pcgs.com/News/Smoking-Pays-Off-For-Collectors ) there is an off chance of a 1955 ddo cent in there

    but the hunt for varieties and errors are for coin collectors who have the passion to look at every coin front and back. even if this is taken to a error and variety maven, how is this person going to get paid? that's a lot of looking for an off chance of a variety.

    my suggestion is to expect whoever buys them to not look for errors and varieties before they buy them, but very well may look for them after they are bought.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • joeykoinsjoeykoins Posts: 16,815 ✭✭✭✭✭

    @voicepianocoach said:
    I’m north of Indianapolis, Indiana if anyone has a local coin enthusiast that would like to help.

    You just might of posted the magic words? You said you live north of Indianapolis. How north? Maybe, some trustworthy poster here on your thread, can help you get a fair and honest assessment on your grandpa's collection. What I'm saying is, if you wouldn't mind someone here near you, where you live can meet up somewhere? :*

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭
    edited December 1, 2020 6:53PM

    as far as the paper money.

    this is the coin forum. i'm not sure of who has expertise in paper here. this place does have a currency forum

    either way better pictures are needed.

    there are ferraris and VWs. then there are beaten up ferraris and beaten up VWs.

    what can be seen in those pictures is that they are pretty beaten up. like cars, condition is important in value.

    if you have a scanner you could post scans of both sides to determine whether you have beaten up more expensive cars or just cheap cars.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • BLUEJAYWAYBLUEJAYWAY Posts: 9,827 ✭✭✭✭✭

    @voicepianocoach said:

    @BLUEJAYWAY said:

    @jmlanzaf said:

    @BLUEJAYWAY said:

    @jmlanzaf said:

    @BLUEJAYWAY said:
    Do not neglect searching for errors,varieties, and any toned coins in those loose coins/rolls. Might be some double dates etc. Could add some extra value to the group.

    For someone with no coin experience, this would be an exhausting search with little chance of success that would take more time than it is worth.

    IMHO

    One never knows till one tries.

    You are thinking too much like someone who knows something about coins. It would take hours of study to even begin to recognize RPMs, DD etc. You would have to look up every coin date for a while as you don't even know about 55 DDO or 69 DD. You don't know that 1916-D is a key date. You wouldn't even know where to find the VDB on a coin. Every PMD looks like an error.

    And you have to assume that Grandpa knew as little about coins as Junior does or he wouldn't have put his 55 doubled die in a roll of common date circ wheaties.

    As a "coin guy", you would find the hundreds of hours fun and relaxing. For someone who knows nothing about coins and maybe doesn't care about coins, it would be more frustrating than anything.

    Perhaps he could be put in touch locally with someone who could guide him to a proper expert on errors. Maybe someone here on the forum has some leads he may pursue in this regard. Would like to see this person maximize his potential profit. He will have to determine how much his time is worth.

    Yes to all of this! It is overwhelming to try and understand all of it. I do find it fascinating though. I pulled out his old collector books and have spent hours trying to find info there and online. In fact I had a moment where I told my husband that I get why people collect them. So interesting and so much history in one little round disc!

    Sounds like you may have been bitten by the collecting bug.

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • BLUEJAYWAYBLUEJAYWAY Posts: 9,827 ✭✭✭✭✭

    @WAYNEAS said:

    @BAJJERFAN said:
    I recall a local club member who worked in a con shop. His boss would buy all sorts of stuff like that and he'd have to go through it. He thought it was filthy, despicable and disgusting some of the stuff that came through.

    con or coin lol
    typos can kill you sometimes

    Freudian slip. Or a flashback from a negative coin shop experience. :)

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭

    half dollar sized foreign coins? ? ?

    we have a world coin forum, too.

    it'd be something to look in that roll.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MasonGMasonG Posts: 6,261 ✭✭✭✭✭

    @MsMorrisine said:
    half dollar sized foreign coins? ? ?

    Probably British pennies.

  • jmlanzafjmlanzaf Posts: 35,366 ✭✭✭✭✭

    @MasonG said:

    @MsMorrisine said:
    half dollar sized foreign coins? ? ?

    Probably British pennies.

    Possibly. Could also be Mexican

  • abcde12345abcde12345 Posts: 3,404 ✭✭✭✭✭

    You're going to get a lot of solicitations to get these all graded with PCGS and I would somewhat disagree. Maybe the bust half and the walking liberty half dollars, but the other coins should be housed in albums or maybe sent to cheaper graders such as ANACS.

  • MasonGMasonG Posts: 6,261 ✭✭✭✭✭

    @jmlanzaf said:

    @MasonG said:

    @MsMorrisine said:
    half dollar sized foreign coins? ? ?

    Probably British pennies.

    Possibly. Could also be Mexican

    Could be. I went with pennies because they're as common as dirt and almost exactly the same diameter as a half dollar.

  • jmlanzafjmlanzaf Posts: 35,366 ✭✭✭✭✭

    @MasonG said:

    @jmlanzaf said:

    @MasonG said:

    @MsMorrisine said:
    half dollar sized foreign coins? ? ?

    Probably British pennies.

    Possibly. Could also be Mexican

    Could be. I went with pennies because they're as common as dirt and almost exactly the same diameter as a half dollar.

    Depends on where he went on vacation... LOL

  • joeykoinsjoeykoins Posts: 16,815 ✭✭✭✭✭
    edited December 1, 2020 8:26PM

    Seen this as well!

    Wouldn't a great amount of time, say 4 hrs., be all worth it if she would find a $500-$700 coin? I would say so, no? :*
    And this is just saying for one coin. How about if she found 5 other $80-$100 coins?
    1909o

    BIG MONEY

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • cecropiamothcecropiamoth Posts: 969 ✭✭✭✭✭

    @jmlanzaf said:

    @MasonG said:

    @MsMorrisine said:
    half dollar sized foreign coins? ? ?

    Probably British pennies.

    Possibly. Could also be Mexican

    Maybe some Panamanian 1/2 Balboas.

    Jeff

  • MasonGMasonG Posts: 6,261 ✭✭✭✭✭

    It's no surprise the "unsearched roll" sellers on eBay always seem to find buyers. ;)

  • wondercoinwondercoin Posts: 16,985 ✭✭✭✭✭

    Looks like the typical collection I would drive hours upon hours to buy when I started out about 4 decades ago.

    If anyone buys the collection... I still need 692 nice circulated Ike $1 to finish an order of 10,000 that a customer placed with Justin last month. Lol. I think the customer intends to pass them out as gifts to everyone he knows and at his favorite restaurants.

    Wondercoin

    Please visit my website at www.wondercoins.com and my ebay auctions under my user name www.wondercoin.com.
  • BAJJERFANBAJJERFAN Posts: 31,177 ✭✭✭✭✭

    @BLUEJAYWAY said:

    @WAYNEAS said:

    @BAJJERFAN said:
    I recall a local club member who worked in a con shop. His boss would buy all sorts of stuff like that and he'd have to go through it. He thought it was filthy, despicable and disgusting some of the stuff that came through.

    con or coin lol
    typos can kill you sometimes

    Freudian slip. Or a flashback from a negative coin shop experience. :)

    Tipo!

    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,177 ✭✭✭✭✭

    @jmlanzaf said:

    @BAJJERFAN said:
    I recall a local club member who worked in a con shop. His boss would buy all sorts of stuff like that and he'd have to go through it. He thought it was filthy, despicable and disgusting some of the stuff that came through.

    I would never go to a "con shop". That's asking for trouble. ;)

    Indeed!

    theknowitalltroll;
  • jmlanzafjmlanzaf Posts: 35,366 ✭✭✭✭✭

    @joeykoins said:
    Seen this as well!

    Wouldn't a great amount of time, say 4 hrs., be all worth it if she would find a $500-$700 coin? I would say so, no? :*
    And this is just saying for one coin. How about if she found 5 other $80-$100 coins?
    1909o

    BIG MONEY

    Because collections of heavily worn common coins always have a rare date in them

  • 59Horsehide59Horsehide Posts: 427 ✭✭✭

    It would be worth the time to look at the State Quarters to check for an "S" mint mark. Those would be of 90% silver content like the 1964 and prior coins. The "S" mint mark represents the San Francisco mint and they do produce these quarters in a clad form. Look at the coin edge, if it has a "copperish-bronze" appearance - the coin is clad and you can spend it.

  • kevinstangkevinstang Posts: 1,520 ✭✭✭


    I would check these roll(s) of what look to be older 1/2 dollars and dollars

  • leothelyonleothelyon Posts: 8,474 ✭✭✭✭✭

    Our grandpa just passed away and he started coin collecting as a kid and passed away at 95!

    And your kids are his great grand kids. Let them have the chance to occupy/absorb their small minds into those coins. Much can be learned from coins, socializing/meeting others with like interests, managing money, researching history are some of them. Time is on your side, you can sell anytime in the next 40 years. Another upside is, increase value of silver. I can't remember the last time I've received an Ike dollar in change if ever but your child will have them.
    If you want to downsize, get rid of the culls/damaged coins but make certain of their value.

    Leo

    The more qualities observed in a coin, the more desirable that coin becomes!

    My Jefferson Nickel Collection

  • mannie graymannie gray Posts: 7,259 ✭✭✭✭✭

    Engle's Coin shop in Indy would offer a fair price if they would be interested.
    I would call them first but they would be fair if they had an interest in your grandfather's accumulation.
    (They may not be interested....I dunno)

  • SanctionIISanctionII Posts: 12,387 ✭✭✭✭✭

    I enjoy threads like this. Always enjoyable, especially if the person who comes into possession of the collection becomes interested in learning about the hobby and finds valuable coins in the collection.

    I am surprised no one has yet given one of the two most common pieces of advice to the OP.

    Purchase a copy of the 2020 Redbook catalog of US Coins. That is a great reference with lots of information and photos.

    The other advice is to not clean the coins as doing so will damage them and reduce their value.

    Also you can click on the PVGS Coin Facts link and obtain lots of information and photos from their.

    Let us know how things work out and good luck.

  • CoinJunkieCoinJunkie Posts: 8,772 ✭✭✭✭✭
    edited December 1, 2020 9:45PM

    @SanctionII said:
    I enjoy threads like this. Always enjoyable, especially if the person who comes into possession of the collection becomes interested in learning about the hobby and finds valuable coins in the collection.

    I am surprised no one has yet given one of the two most common pieces of advice to the OP.

    Purchase a copy of the 2020 Redbook catalog of US Coins. That is a great reference with lots of information and photos.

    The other advice is to not clean the coins as doing so will damage them and reduce their value.

    Also you can click on the PVGS Coin Facts link and obtain lots of information and photos from their.

    Let us know how things work out and good luck.

    Both of those pieces of advice were in fact offered in the thread. FYI.

  • AUandAGAUandAG Posts: 24,811 ✭✭✭✭✭

    Just do NOT BE IN A HURRY. The price is not going to drop so there's nothing to gain by selling without knowledge. Get a NEW US Coin Red Book and start reading. We are very happy to help you monetize that collection at it's highest value and will offer great free advice.
    Be well, stay safe.

    RIP Grandpa. Even I will remember you!

    bob :)

    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • ɹoʇɔǝlloɔɹoʇɔǝlloɔ Posts: 1,436 ✭✭✭✭✭

    @BLUEJAYWAY said:
    Do not neglect searching for errors,varieties, and any toned coins in those loose coins/rolls. Might be some double dates etc. Could add some extra value to the group.

    this is what I kept thinking reading through all the 'go out and spend em' or 'not much value there' comments --- WHAT ABOUT THE VARIETIES / ERRORS?!

  • joeykoinsjoeykoins Posts: 16,815 ✭✭✭✭✭

    @jmlanzaf said:
    Because collections of heavily worn common coins always have a rare date in them

    So you're saying that there is a 100% chance of not finding any sort of GOOD and/or valuable coin in this collection?

    "Jesus died for you and for me, Thank you,Jesus"!!!

    --- If it should happen I die and leave this world and you want to remember me. Please only remember my opening Sig Line.
  • ɹoʇɔǝlloɔɹoʇɔǝlloɔ Posts: 1,436 ✭✭✭✭✭

    my grandfather gave me his entire coin and stamp collection when I was 12 - it. was. magic.

    hundreds of coins and thousands of stamps

    I spent hours going through them

    then, when I was 16, my family went on a summer vacation - everyone except my older brother - he stayed back for summer sports he was in

    he was also starting to get into drugs, and by the time we got back from the trip, he had stolen and pawned our grandfathers coins and stamps for coke money

    a massive loss.

    sharing to echo what others have suggested, that maybe you could consider passing on portions of the collection onward if you or siblings have children - it really does start them on a fascinating journey

    thats part of why I collect to this day - grandpa theo

    sorry for your loss

  • jmlanzafjmlanzaf Posts: 35,366 ✭✭✭✭✭

    @joeykoins said:

    @jmlanzaf said:
    Because collections of heavily worn common coins always have a rare date in them

    So you're saying that there is a 100% chance of not finding any sort of GOOD and/or valuable coin in this collection?

    I'm saying there's a 99.9% chance of not finding anything valuable (define "good") and that unless your time is free, it is not an effective use of time. Especially if you consider that a complete novice is going to have to spend 5x longer than an experienced collector.

  • 291fifth291fifth Posts: 24,499 ✭✭✭✭✭

    @BLUEJAYWAY said:
    Do not neglect searching for errors,varieties, and any toned coins in those loose coins/rolls. Might be some double dates etc. Could add some extra value to the group.

    This would require much more knowledge than the owner is likely to have. It would also require years to learn what to look for and also how to sell it at a premium.

    All glory is fleeting.
  • matt_dacmatt_dac Posts: 961 ✭✭✭✭✭

    @abcde12345 said:
    You're going to get a lot of solicitations to get these all graded with PCGS and I would somewhat disagree. Maybe the bust half and the walking liberty half dollars, but the other coins should be housed in albums or maybe sent to cheaper graders such as ANACS.

    I don't see anyone suggesting that, and the cost would likely be more than the value of the collection. I never wish to frustrate anyone, especially those new to collecting, but I think this will be difficult to sell unless she can find a bored dealer who will take it cheap with the hope/chance that they find something of value.

  • CoinHoarderCoinHoarder Posts: 2,614 ✭✭✭✭✭

    Sell em on the BST, and instead of price, put "make an offer". :)

  • @ɹoʇɔǝlloɔ said:
    my grandfather gave me his entire coin and stamp collection when I was 12 - it. was. magic.

    hundreds of coins and thousands of stamps

    I spent hours going through them

    then, when I was 16, my family went on a summer vacation - everyone except my older brother - he stayed back for summer sports he was in

    he was also starting to get into drugs, and by the time we got back from the trip, he had stolen and pawned our grandfathers coins and stamps for coke money

    a massive loss.

    sharing to echo what others have suggested, that maybe you could consider passing on portions of the collection onward if you or siblings have children - it really does start them on a fascinating journey

    thats part of why I collect to this day - grandpa theo

    sorry for your loss

    So tragic. I’m so sorry you had to experience that. I hope your brother has found recovery through the years.

    I will surely pull back many of the special ones and pass to the kids. Maybe make a special Christmas gift out of it.

  • 53BKid53BKid Posts: 2,174 ✭✭✭
    edited December 2, 2020 11:36AM

    Funny, my mom literally just asked me two hours ago how to handle my grandfather's circulated coins that he collected from his bar's cash register, so I'm going to share this thread with her as there's a lot of good advice offered here. She lives on one of the coasts and with Covid, I won't be able to assess the coins for her as she's anxious to sell them soon.

    Like the comments above, I told her to bag up all the copper clad coins and bring them to the bank or spend the Eisenhowers for fun.

    As for the silver, I suggested separating out the Kennedy's, and put the rest into boxes and weigh them to determine a minimum level of what they're worth.

    My recommendation is to have a sense of the relative pricing before going to a coin dealer. Keep in mind that they're in business to make money too and that their objective is to buy them as cheaply as possible. One way is to look at 90% silver lots that sold on eBay which can give you a general sense.

    Ultimately, they are going to ask you what you want for the whole lot. The way its done is kind of a losing proposition, if they clearly see that you haven't any idea what their worth. By having a good general idea or range which is acceptable to you beforehand, can enable you to have a productive discussion.

    Another idea that may be worth considering is offering to pay a coin dealer a flat fee to go through all the silver coins and help you discern if there's any coins that have more numismatic value. However, from the photos provided, that may not be a fee worth paying.

    I'm sharing this thread with my mom so

    Wishing you a positive result, and you've got my sympathy for the loss of your grandfather.

    HAPPY COLLECTING!!!
  • JBKJBK Posts: 16,012 ✭✭✭✭✭
    edited December 2, 2020 11:10AM

    @53BKid said:
    Funny, my mom literally just asked me two hours ago how to handle my grandfather's circulated coins, that he collected from his cash register of the bar he owned, so I'm going to share this thread with her as there's a lot of good advice offered here. She lives on one of the coasts and with Covid, I won't be able to assess the coins for her.

    Like the comments above, I told her to bag up all the copper clad coins and bring them to the bank or spend the Eisenhowers for fun.

    As for the silver, I suggested separating out the Kennedy's, and put the rest into boxes and weigh them to determine a minimum level of what they're worth.

    My recommendation is to have a sense of the relative pricing before going to a coin dealer. Keep in mind that they're in business to make money too and that their objective is to buy them as cheaply as possible. One way is to look at 90% silver lots that sold on eBay which can give you a general sense.

    Ultimately, they are going to ask you what you want for the whole lot. The way its done is kind of a losing proposition, if they clearly see that you haven't any idea what their worth. By having a good general idea or range which is acceptable to you beforehand, can enable you to have a productive discussion.

    Another idea that may be worth considering is offering to pay a coin dealer a flat fee to go through all the silver coins and help you discern if there's any coins that have more numismatic value. However, from the photos provided, that may not be a fee worth paying.

    I'm sharing this thread with my mom so

    Wishing you a positive result, and you've got my sympathy for the loss of your grandfather.

    I like your thinking, except for the part about weighing the silver.

    Silver coins (US, for example) trade most often based on face value.

    So, separate the silver by type (90%, 40% JFKs, silver war nickels) and add up the face value on each pile. Then go online to find what multiple of face value they are worth.

  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭

    @JBK said:

    I like your thinking, except for the part about weighing the silver.

    Silver coins (US, for example) trade most often based on face value.

    So, separate the silver by type (90%, 50% JFKs, silver war nickels) and add up the face value on each pile. Then go online to find what multiple of face value they are worth.

    40% jfks.

    and value per coin is on http://coinflation.com

    as already mention peace dollars, and even more, morgan dollars go for more than just silver value even for common dates.

    then there are the mercury dimes, "barber" coins which can bring above silver value in common dates.... though singles of common date mercury dimes not so much.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭

    this is a "better coin" ... forget even silver value ... you are going to get collectible value

    @MsMorrisine said:
    what is on the other side of this coins and the others with the same design ?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭

    1909 wheats are very collectible.... then there are the 1909 wheats with the initials "V. D. B." on the bottom center of the reverse. those are the kings of the wheats

    the rest of the dates in that roll are more collectible.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭
    edited December 2, 2020 10:55AM

    take a look at this connecticut state quarter.

    notice the dents under washington's jaw and on the neck. note how beaten up
    "Dollar" and "In God We Trust" are.

    then there is the back. in the flat area next to "Connecticut" and above the tree has marks running every which way. then on the bottom there are discolorations. what you see there is worth 25cents. no doubt they made mint sets with silver quarters back then but the chances of finding a well circulated silver quarter is small.

    using cash and change isn't happening as much as before. if some child wanted to just have these in an album you'd probably have to go to the bank to fill the album. also, another hurdle is kids spend money. they may even spend great grandpa's money. if stuff is put away for them kept it safe.

    below the circulated quarter is an example of a quarter that, both, has not seen circulation and has few marks. these have collectible value. notice it's not beaten up and isn't discolored. value? several hundred dollars.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • MFeldMFeld Posts: 14,141 ✭✭✭✭✭

    @MsMorrisine said:
    take a look at this connecticut state quarter.

    notice the dents under washington's jaw and on the neck. note how beaten up
    "Dollar" and "In God We Trust" are.

    then there is the back. in the flat area next to "Connecticut" and above the tree has marks running every which way. then on the bottom there are discolorations. what you see there is worth 25cents. no doubt they made mint sets with silver quarters back then but the chances of finding a well circulated silver quarter is small.

    using cash and change isn't happening as much as before. if some child wanted to just have these in an album you'd probably have to go to the bank to fill the album. also, another hurdle is kids spend money. they may even spend great grandpa's money. if stuff is put away for them kept it safe.

    below the circulated quarter is an example of a quarter that, both, has not seen circulation and has few marks. these have collectible value. notice it's not beaten up and isn't discolored. value? several hundred dollars.

    I believe stating that the bottom coin has a value of “several hundred dollars” is highly misleading. Only a tiny fraction of such coins have that kind of value, while the vast majority have little, if any extra value.

    Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.

  • MasonGMasonG Posts: 6,261 ✭✭✭✭✭

    @MsMorrisine said:
    below the circulated quarter is an example of a quarter that, both, has not seen circulation and has few marks. these have collectible value. notice it's not beaten up and isn't discolored. value? several hundred dollars.

    I'm curious- where is the value of "several hundred dollars" from? Here's a sold item from eBay:

    1999 P & D Connecticut Statehood Quarter Two Coin Set - NGC MS67
    Sold: $20.99

    https://www.ebay.com/itm/1999-P-amp-D-Connecticut-Statehood-Quarter-Two-Coin-Set-NGC-MS67-/233573353494?hash=item36620e8816:g:pyYAAOSw-AFeqIZK&nma=true&si=lEI6nr%2Bt7qhamMxxMGGB0HaE2t0%3D&orig_cvip=true&nordt=true&rt=nc&_trksid=p2047675.l2557

  • MsMorrisineMsMorrisine Posts: 34,048 ✭✭✭✭✭

    ok. I did not make myself clear.

    what I needed to say that such mark free and spot free coins will garner several hundred dollars. it takes high, high quality to become collectible in the modern quarter era.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • HydrantHydrant Posts: 7,773 ✭✭✭✭✭
    edited December 2, 2020 6:44PM

    Do whatever makes the most sense to you.

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