Honor thy Father

meos1

Hi All;

I am brand new here. Been in love with coin collecting since my Father showed me all the tubes, folders, bags, boxes, and envelopes that he had collected. Since he recently passed I have come to possess the collection that he built slowly over the years. While ninety nine percent of it is circulated stuff that is very low grade there are a few pieces worth noting in the collection. One is a silver penny.

Any rate, There are oodles of ungraded loose coins from almost any year. I was intereseted in hearing from you how I can build the best value out of this collection without going bonkers trying to hand grade everything. SHould I just put them out on ebay, sell the silver coins as silver melt, Throw some suggestions please.

PS I just picked up a PCGS MS68 1994 Silver dollar business strike for 20 bucks. I thought I did pretty good, besides my daughter was born that year and I am sure she will enjoy the coin when I am gone as I did geting these "treasures" from my Dad.

Dan, Dan, the crazy coin man!

FC57Coins

Welcome to the board Dan - Im sure everyone here will have recommendations for you (most of which would involve spending lots of time with the coins) so I'll let them have at it - have fun here!

Frank

merz2

Dan
Let me say welcome first.Sorry about your loss.There were no silver pennies(cents).In 1943 there was a zinc coated steel cent made.If that coin has silver on it,it was put there after it left the U.S. Mint.The first thing you should do is get the Red Book(A Guide Book Of United States Coins).They usually have it at your public Library.You can buy one for $10,at coin shops or book stores.You should look for key date coins.Even in well circulated condition some key date coins are worth way more than melt or bullion value.If you can post scans,do so here.Most of us will try and help.

KlectorKid

Welcome I would look through the coins for any rare dates/varieties then i would sell the rest at melt. Then use the money and by a nice coin and keep collecting.

Geoman

Dan,

Welcome to the boards also. I won't go through and grade it all. But it may be fun to go through all the coins and see if there are any key or semi-key dates in the pile. Get a reference book, such as the Red Book from your local library and check out which dates are worth more.

Also, collect what interests you, and not what someone tells you you should collect because it may be worth more someday. Collecting should be fun and enjoyable. Glad to have you here on the boards. There is a lot of good advice given. Hope you stick around.

meos1

Thanks for the rapid responses... I will have a red book for all of the 1950s and 1960s Shame they don't update automatically....
The silver penny I knew was not minted.... Its an error. There was a specific gravity test performed on it. Dad had that verified back in the late sixties. I guess somehow a silver plancet got on the penny line. Its interesting if nothing else. Love this coin collecting thing though and getting the collection has really rekindled my interest.

Both my kids are fired up over it too. I have put away as much of the state quarter proof, mint and circulated material as I could find afford and store too... What a series.

IrishMike

What is the date on the cent?

Edited to add: Unless you need the cash I'd keep his coins and pass them on. I have some 3rd generation low grade IHC's and they are very special to me.

meos1

1938 If I remember correctly...I am at work right now or I'd go over and check. Updates to come

DRG

Welcome, and again sorry for your loss. I agree with everything above but would add this;

Most likely the silver cent you speak of is a steel cent dated 1943. There are infact very rare errors where a silver 10c planchet was stamped with a cent die, but this is very rare. (edit. I guess you have one of the rare ones, these are quite valuable).

The Red Book is a great reference and includes a fairly easy grading guide in the front. You won't get the going prices listed in the Red Book if you sell to a dealer. These are the prices you would expect to pay if you were buying, not selling. That said you can often get close to the Red Book price selling on Ebay.

All that said I would certainly keep what you really like and what meant the most to you. I think that is what this hobby is really all about. Coins are a part of our history, a tangible link to our past. These coins belonged to your Father which adds immeasurably to their worth.

Those old Red Books are also considered collectable.

Russ

Welcome aboard! Got proof JFKs?

Russ, NCNE

danglen

According to Error Trends Magazine a cent struck on a dime planchet is worth around $350.00.

meos1

That would be nice.... Would PCGS certify that type error or is that NCGS, or another?

DRG

PCGS certified my SBA$ struck on a quarter planchet so I assume they would certify your coin.

danglen

PCGS, NGC and ANACS would all certify and encapsulate a mint error. I find ANACS does a better job on errors than the other services (just my opinion).

meos1

He did not do the proof thing too much. Thats my bag. I do have oodles of JFK business strike that he set aside. He went after these when they were release. Most are in the bank tubes they came in. There are as many maybe more franklins and twice thier sum of standing liberty......

ursabear

Welcome to the boards! I'm sure you'll find many and varied interests here. Lots of folks here are in different stages of the hobby and business. Good folks here... lots of help and advice when you need it.

Jim

fcloud

Sorry about the loss of your Father, Dan. Welcome to the boards and collecting. You have made a wise choice to join the forums. There are many knowledgeable people here whom are willing to help. Good Luck!

meos1

Thanks for your many kind words. It is just over a year now. I miss my Dad but when I go through the coin collection there are some great memories. The smells do the most for me. Something about really old currency, that smell is spellbinding.

braddick

Welcome! -Nice choice for an ICON. I bought that one from Tad (Supercoin) last earlier this year. It's just as pretty in person.

TheNumish

I had a 1963-D Lincoln cent struck on a dime planchet that I sold a few weeks ago. Coin was a nice uncirculated coin. I bought it for $900 and sold it for $1,100. It was one of those coins I was super excited about when I bought it and felt a twinge of pain when I sold it.

The clad coins are worth a lot less than the silver coins. I have a 1978 cent struck on a dime planchet graded MS-62 by PCGS I'd sell for $350.

Hope this info helps.

Tootawl

I agree with IrishMike. Save them and pass them on to your kids. I have a handfull of Walkng Liberty Halves that my 94 year old uncle gave me a few years ago. He recently passed away. Even though these are extremely circulated, there is no way I'm going to sell them. I plan on passing them down to my kids, whenever I decide to have a kid or two. There's always my sister's kids that I can leave them with.