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How do you decide which coins to have graded?

TMountainHighTMountainHigh Posts: 6 ✭
in Q & A Forum

A friendly hello to everyone :) First time posting and new to coins. I inherited several nice coins that were bought more as an investment than as a collector. I am doing my best to learn & do my DD for them. None have been graded or even put in protective separate sleeves. They have been in family safes Unhandled for 30-40 years. I have now gone through them & catalogued each one using the Coin Snap App. So I have a rudimentary knowledge of value from that. But there is still a large gap of information missing & a great deal of uncertainty in my understanding of it all. I discovered this forum after watching umpteen YouTube videos. I have been very hopeful & eager to post here since. As I haven’t been sure where to go to get some help understanding the coins I have. I had planned to attend a local monthly coin show this last weekend but unfortunately life unforeseeably intervened. & I couldn’t attend. I have read about using caution when selling to coin stores. And most I’ve called are only interested in melt values. But I feel I need to ascertain their possible collector aspects first. Gathering the necessary base of knowledge to do so.. is not an overnight process to say the least! Lol. I couldn’t spot an error .. to save my life, yet. 🥴 I don’t want to later regret a bad decision & sting of knowing if I’d just learned a little more... I would have known better. So that’s why I’m here 😊

Now a little on what I have. Then how best to proceed from there? There is 35lbs of silver quarters 1964-32, 2 stacks of 1oz gold Krugerrands 1979 & a few 78 all mint, Saints & other gold coins, several walking liberties various conditions, lots of silver dollars & 1/2 dollars, Canadian gold maple, Morgans that coinsnap grades Mint but I don’t know where they fall on the spectrum of $47 to $65000, & a stack of Treasury Department mint proof sets still in mailing envelopes. Plus a few other odds & ends like mercury dimes, buffalo’s, Indian head & wheat penny’s.
Is there anywhere I can go to get a fair & accurate evaluation from a collector standpoint for all of this? I have no idea what/ if any should be sent to have graded. That is a process I am still unfamiliar with. I’m sure there is a fee based cost involved. But how much? How long does it take to get back? I have so many newbie questions it’s embarrassing... lol. I will be most humbly grateful. For a suggestion of where/how best to start here? Thank you ☺️

Best Answer

  • ifthevamzarockinifthevamzarockin Posts: 8,902 ✭✭✭✭✭
    edited November 14, 2023 6:41PM Answer ✓

    Welcome to the forum! :)

    You found the right place to get help. There is a lot to learn so take a deep breath and be patient.
    If you are able to post photos here all your questions will be answered.
    One grading point can make a big difference in value, an MS60 can be worth much more than an AU58 on some coins.
    We need to be able to see the coins to give you the best information.
    You don't need to become a professional photographer, most newer cell phones do a good job.

    It's great that you made a list to give us an idea of what you are dealing with.
    It's quite a list and rather than try to respond to a list it may be best to start with a few coins at a time.
    You will get some general responses to your list but more information is needed.
    There are lots of experts here to help you out.

    Hope this helps a little bit. ;)

    Edited to add: I realized I did not answer the question in your title. "How do you decide which coins to have graded?"

    The value of the coin should be $200 or above to justify the costs.

Answers

  • MarkKelleyMarkKelley Posts: 1,884 ✭✭✭✭✭

    Hello, and welcome. First and foremost, we must have close, cropped photos to help you. Professional grading and encapsulation isn't cheap, and you'll only want to do it for those coins that are worthy of the cost. We anxiously await your photos.

  • TMountainHighTMountainHigh Posts: 6 ✭

    A huge THANK YOU to both!! They were both very helpful responses. I will get to posting photos right away. (Happy dance) 😁

  • wherriawherria Posts: 11 ✭

    The value of the coin should be $200 or above to justify the costs.

    This is very difficult if you’re a beginner, because, speaking as one myself, I don’t know how to know if something is worth that much, when deciding whether to have it graded.

  • ifthevamzarockinifthevamzarockin Posts: 8,902 ✭✭✭✭✭

    @wherria said:
    This is very difficult if you’re a beginner, because, speaking as one myself, I don’t know how to know if something is worth that much, when deciding whether to have it graded.

    This is where a Redbook comes in handy, it has prices and there is information on how to grade each series.
    Looking at ebay "Sold" listing can also help you determine values.
    You must use the sold listings not the unsold stuff that people post for crazy selling prices.
    You can also check the auction houses sold listings.

  • wherriawherria Posts: 11 ✭

    Thanks! You’re a big help.

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