Need help in selling coin collection

Szaftoo

My dad recently passed away leaving my mom coins, stamps and sports cards. I will ask in the other topics about the stamps and cards but need help with the coins. Is there a magazine or web site I can visit to learn the best way to sell them? Do I look in the phone book for dealers or go to coin conventions? I know nothing and need all the help I can get. Thanks.

dwssws

have any idea about what type of coins you have? pics?

Pistareen

Hi there --

First, get an idea of what is there. The more you know, the better off you'll be in getting a good price. Go buy A Guide Book of United States Coins by RS Yeoman at the local bookshop. It will give you an idea (not perfect, but a guide) of what things are worth in various grades. It will tell you if something is worth $50 and thus worthy of inventorying individually or 5 cents, in which case it's less important.

Next, write that inventory of all the coins you think might have some value. Wheat cents, unless rare dates, can be put in a single line: 500 miscellaneous, etc.

Coins in different grades can be worth vastly different prices though otherwise identical. Realize that, through no fault of your own, you can't grade yet. Automatically assuming your coins are high grade because you can't see wear doesn't help anyone. A variety of defects can also reduce the value to far below the "book" rate. Some coins should be "certified" or slabbed by a professional grading company, for others it won't increase their value and will just cost you money.

Some coins can be easily sold to a local coin dealer or on eBay. Other coins are rare, interesting, or valuable enough to be sold through a major auction venue. I work for one of those auction companies, and anyone who works there will tell you we're the best!

Feel free to come back and ask more questions.

raycyca

You can look right here on the PCGS web site and see prices. BUT, you FIRST need to get a red book at any coin dealer's shop. This will tell you what are the key coins of each series and help you get an estimate on grading. Grading is EXTREMELY important in pricing coins. Good luck. Ray

BigDaddyz

If you sell them to a dealer...you'll get less for them but you'll get rid of them in one big lump...no muss- no fuss.

If you want to get the most for them...sell them on ebay. You don't have to know a lot about them but you have to take good pictures of them and know what it is you are selling for the listing. After that, buyers make their own decisions.

Also, it would be a good idea to have someone somewhat knowledgable to look at them to see if there is anything special you should be aware of or handle differently.

Don't clean them!

airplanenut

Pistareen's advice is great. I'd also add that you should, under NO CIRCUMSTANCES, clean any of the coins with anything. Cleaning will damage and diminish the value of a coin.

If you have a capacity to show any pictures, people on the board will be more than happy to give you more specific advice.

Julian

What area do you live in? I may be able to recommend a local colleague for you to visit.

IrishMike

Also what city are you located in, members here are spread across the country and might be able to help you eyeball them.

numisma

In addition to pistareen's advice, I will add that it is very important to obtain at least 4 written offers. Just make sure that the offer's are apples-to-apples to assure accuracy. Do this after the inventory is completed. Also, make sure that the appraisal is done in your presence at all times. An alternate option is to pay a professional numismatist for a written estimate of the value before obtaining the written offers.

Kimchee

Also if someone looks at one of your coins and says, "Oh, wow! Oh wait I mean this coin sucks! I'll buy it from you!", you should probly hold on to it.

Kimchee

bidask

Get at least three different evaluations or offers if you think the entire collection maybe significant.

morgansforever

Buy yourself a Whitman Redbook and research the coins yourself. Please don't walk into a local B&M and say, "whats it worth", without any knowledge, you could get fried. Certain dates and mintmarks can yield large amounts of money, spend $15 bucks for a Redbook before you do anything.

morgans

RichieURich

Some good suggestions here already.

And, to the Forums, Szaftoo!

Teletrader1950

Try the Numismatic Dealer Directory published by the CDN to find a dealer in your area

Szaftoo

Thank you all for your very helpful replies. I have printed all of them and will do as you have suggested. I live in So. California for those of you who asked. I went through the coins and will attempt to post a picture. I tried once before with no luck. I can tell you there are foreign coins, proof sets, Susan B. Anthony's dollars, old pennies and dimes, Indian head nickels.

jonesy

I'm very sorry to hear about your Dad's passing.

dizzlecc

Welcome to the boards. You came to a good place to ask questions.

My first advice would be to be careful in handling the coins. The less the better.

Then get educated. Asking questions is a good thing, whether it is here or to a shop owner or friend.

Finally, verify the answers you get with a second source.

Good luck and well wishes to your family.

Kimchee

Coins that have color or brown tone on the surface didn't "go bad" in many cases color on a coin increases it's value. Also, on coins that look new or shiny, if you handle the coin outside its holder try to only hold it by the edges.

lkrarecoins

Welcome to the boards Szaftoo!!!!

I would recommend first getting yourself a good reference guide to familiarize yourself with what you possess.

If you intend on selling, be patient and educate yourself first...If you have time, there is no better way than breaking
down your collection and selling on EBAY: Commons you can sell as a lot or group, Rarer items or items with greater value, you may want to sell individually.

If you are in a hurry to liquidate your collection, I would definitely shop them around town. Check out a few local coin dealer around your parts, and let them
appraise them and make an offer. If you are not comfortable with the offer, just smile, say thank you, and move on to the next dealer. You will be surprised at how much you will learn by sitting down with a dealer/numismatist. Listen, but ask lots of questions! You may want to find out if there are any coin shows in your town where you can bring in your collection for evaluation. Or, just take a dealers business card, and make an appt. to view your collection in the future, so you have the dealers full attention.

My second suggestion would be keep all or a piece of your Dad's collection. I still have my Dad's collection preserved and will never sell. It has way to much
sentimental value to put a number on. Again, this is all up to you. But wouldnt it be nice, if some day, your niece, nephew, child, cousin. etc can have this collection and relate it to the memory of your Dad? Just a thought.

Enjoy your weekend...

ajaan

Drop in over here on the World and Ancient coin forum if you have any questions about the foreign coins.

onthespot

fingerprits are very bad on coins. try not to add any of your own.

19Lyds

As stated earlier, Learn what you before you try to sell it. You're Dad collected them for a reason and it would be best if you figured out what that reason was.

After you learn what you have and why he collected them, you might just want to continue the collection. Who knows.

As far as dealers go, never ever walk blindly into a coin shop with the intent of selling what you have. It is possible that you will regret the decision as a coin dealer will read you like an open book and get a low as price as he/she feels you would be willing to accept without regard for what you really have.

I'm not trying to diss all dealers or coin shop owners but the chicken should never walk into the Fox Den and ask "What's for dinner?"