Will Question: Appraisal and Selling...

JoshL

Let me first explain my situation...then ask a couple of questions

If something were to happen to me I would want my family to be able to have my collection appraised accurately. I have a lot of toned Morgan Dollars...and DMPL Morgans.

I would also want them (if they decided to sell them) to be able to get the maximum amount out of them. This would prob mean selling them individually or through auction.

I used to collect coins...then had to stop. In the past year, however, I have started collecting again. The value of the collection would be in the six digit figures...so I am looking for someone that has a good reputation in the coin community. Someone that could be trusted to appraise them properly. Almost all of these coins are PCGS graded coins.

So here are the questions...

Can someone point me in the right direction of a person or will accurately be able to determine the value of my coins...especially knowing that toned Morgans are worth more than regular Morgans. This person does not have to be the same person who sells the coins.

Can someone point me in the direction of a person who could sell the coins piece by piece...with them making a commission of course?

Can someone point me in the direction of an auction house that could do the same?

What I am looking for is to put the names of these individuals within my WIll and their contact numbers. This will make it easy for my family to take care of business.

Thanks ahead of time for your responses...

291fifth

A well written request for information.

I wish I could help with the specifics but my knowledge of Morgans, especially toned Morgans is very limited. Here are some thoughts though.

You don't want these coins brought into your local dealer. I'm sure they would bring just a percentage of gray sheet bid with no allowance for the value of the toning.

Is this the kind of item you want to be in an inheritance? Possibly not. It is very difficult to value.
If you are really concerned about this perhaps this is material you should sell now, while you can still make the decisions.

Placid

Heritage will auction them and get them seen by alot of people if you can get them into a signature auction.
They charge about 5%.

Heritage web site

JoshL

<< <i>
Is this the kind of item you want to be in an inheritance? Possibly not. It is very difficult to value.
If you are really concerned about this perhaps this is material you should sell now, while you can still make the decisions. >>



I am young and don't plan on passing on into the Great Coin Heaven anytime soon But then again you never know...

I love my collection and enjoy it...so it is not something I want to sell at this time. I am just thinking ahead...that is all.

Thanks...

billboat

If they are all or mostly PCGS coins I don't think your heirs will have too much of a problem--I suggest you type up an inventory with current values--taken from the PCGS website and annotate the list to cover the non-PCGS coins as to approximate value. Next, write up a letter to the executor of your estate indicating the approximate value of your collection and suggestions as to where to submit them for a decent offer. This is assuming that there is no one in your family with an interest in coins that could be relied upon to dispose of them in a responsible manner. Heritage coins out of Dallas has a nice publication regarding this issue "The Rare Coin Estate Handbook".

billboat

Just a followup--I have also been thinking about this issue lately--what will happen to about 200 very nice Morgans and bust halves that currently reside in my safety deposit box. One can always fall back on the tried and true position of "Who cares, I'm dead" but that's a cop out--so, I suggest you do something now to establish the value of your collection and document it. Depending on the value of your collection you can leave specific instructions to your executor. Whew!! How depressing--Lets talk about where to find the !815 Bust half I need to complete my Bust Half Year Set. I could care less about the 1913 Liberty nickel--a choice 1815/2 would be rarer in my book. At least its a legitimate US mint coin.

291fifth

I note that a 5% auction commission has been mentioned in this thread. This is the seller's commission only. Remember that some of these auction houses are now charging buyer's fees of up to 20% as well.

dorkkarl

your best bet is to befriend a couple of trustworty coin-dealers. that's my insurance policy

K S