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Selling my mother-in-laws coins.... suggestions and help please
OldReading
Posts: 129
Hi All,
Here's the short version to give you some background. I'm just getting back into collecting after 20 years, this time with my son. I've never sold a coin in my life. My son is very proud of his collection and was showing it to my mother-in-law the last time she was at our house. She says to him" I have a few silver dollars in my attic, I got them ten years ago when my uncle died, next time you come to my house, you look at them and tell me what they're worth."
So we go to her house on Easter, my son has his price guide at the ready. She hands him a tin, he pulls off the lid and starts dumping coins out onto the carpet. 1976 Ikes start dropping out, about 20 of them, also a few dollars worth of 1976 quarters. I figure that's it, somebody was saving bicentennial stuff, maybe we can use it to buy lunch or something. Then some Kennedy's start dropping out, I hear them and know it's silver. About 15 of them. Now I'm starting to get a little more interested.
Then a Walker falls out followed by an avalanche of Morgans and Peace dollars. Probably not enough to impress the veteran collectors here but it sure looked cool to me. About 35 of them, I'd say about 25 Morgans and 10 Peace. My sons eyes are now like giant saucers, he is now shaking the tin like a madman trying to make more coins appear, the last thing to come out was a two dollar bill from the 50's.
My mother-in-law says "are they worth anything", I said, "at least a few hundred dollars worth of silver". She says "Sell them."
If I could afford them, I would buy them all, but I can't. I know of no coin dealers anywhere in my area, I was going to put them on eBay. What is the FIRST THING you look at when grading a Morgan or Peace. Just the very BASICS, I need a rough idea of what I have when I start to catalog these coins.
Any comments or suggestion to help me in the selling of these coins, eBay? other alternatives, options, please give me your advise. Thanks. Larry
Here's the short version to give you some background. I'm just getting back into collecting after 20 years, this time with my son. I've never sold a coin in my life. My son is very proud of his collection and was showing it to my mother-in-law the last time she was at our house. She says to him" I have a few silver dollars in my attic, I got them ten years ago when my uncle died, next time you come to my house, you look at them and tell me what they're worth."
So we go to her house on Easter, my son has his price guide at the ready. She hands him a tin, he pulls off the lid and starts dumping coins out onto the carpet. 1976 Ikes start dropping out, about 20 of them, also a few dollars worth of 1976 quarters. I figure that's it, somebody was saving bicentennial stuff, maybe we can use it to buy lunch or something. Then some Kennedy's start dropping out, I hear them and know it's silver. About 15 of them. Now I'm starting to get a little more interested.
Then a Walker falls out followed by an avalanche of Morgans and Peace dollars. Probably not enough to impress the veteran collectors here but it sure looked cool to me. About 35 of them, I'd say about 25 Morgans and 10 Peace. My sons eyes are now like giant saucers, he is now shaking the tin like a madman trying to make more coins appear, the last thing to come out was a two dollar bill from the 50's.
My mother-in-law says "are they worth anything", I said, "at least a few hundred dollars worth of silver". She says "Sell them."
If I could afford them, I would buy them all, but I can't. I know of no coin dealers anywhere in my area, I was going to put them on eBay. What is the FIRST THING you look at when grading a Morgan or Peace. Just the very BASICS, I need a rough idea of what I have when I start to catalog these coins.
Any comments or suggestion to help me in the selling of these coins, eBay? other alternatives, options, please give me your advise. Thanks. Larry
---Larry---
More and more these days I find myself pondering how to reconcile my net income with my gross habits." - John Nelson.
More and more these days I find myself pondering how to reconcile my net income with my gross habits." - John Nelson.
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Comments
Apropos of the coin posse/aka caca: "The longer he spoke of his honor, the tighter I held to my purse."
Ike Specialist
Finest Toned Ike I've Ever Seen, been looking since 1986
If your coins turn out to all be common dates, they are worth the "circulated dollar" value if they are not Mint State. It is impossible for me to tell you how to grade coins from here. BUT a Mint State Morgan dollar will often look like the brand 2006 or 2005 new coins that are in your pocket. If the coin has dull spots or a rub, it's not Mint State, is worth the circualted dollar price.
<< <i>The thing to do with the Morgan and Peace dollars is to look at the dates and mints and see if there are any scarce date and mint mark combinations. If there are then those coins might be valuable even if they are well worn. You could use a Red Book to check that out.
If your coins turn out to all be common dates, they are worth the "circulated dollar" value if they are not Mint State. It is impossible for me to tell you how to grade coins from here. BUT a Mint State Morgan dollar will often look like the brand 2006 or 2005 new coins that are in your pocket. If the coin has dull spots or a rub, it's not Mint State, is worth the circualted dollar price. >>
Excellent suggestion.
IF you happen to have (this is hypothetical) 5 CC dollars. Cool. Sell a few, make some bucks and preserve the collection that is left as a keep sake. One of my keepsake coins from my grandmother is a 1900 Morgan Dollar S mint with a die defect. I coukld get a few dollars for it but it is worn and it is also not for sale. Its my grandmother.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>Great suggestions from everyone. I would sometimes like to sell my mother-in-law and keep the coins, though. >>
More and more these days I find myself pondering how to reconcile my net income with my gross habits." - John Nelson.
Would be simple and he would love them.....
Pictures of the coins would be good, many excellent graders on here.....
<< <i>I am kinda suprised that she did not given them to you son for xmas or something like that.....
Would be simple and he would love them.....
Pictures of the coins would be good, many excellent graders on here..... >>
Well, she's got 8 children and like 25 grand children. I'm thinking she may be afraid she might hurt some feelings of others if she gave them all to my son. He's the only one in the family with any interest in them and he's only been collecting now for six months or so. I am going to try and keep as many as I can. I will try and take some pics of the better ones and post them here for your thoughts. Larry
More and more these days I find myself pondering how to reconcile my net income with my gross habits." - John Nelson.
Better then my grandparents who just sold everything they had without asking me if they had anything.
Not likely but possible, looking at my other grandfathers stach of stuff found in the attic had a AU 1928 Peace Dollar in it
TC71