Categorizing a coin collection - Where to start?
SoundPoint
Posts: 255 ✭✭✭
I recently made an offer to my uncle to log his coin collection.
My uncle has been collecting coins his entire lifetime it seems.
He is about 90 years young, and after seeing his collection for
the first time, I estimate he has approximately $8,000 in face
value of Foreign and US coins.
Would anyone have any suggestions on categorizing a collection?
Most of these coins have been in rolls for at least 60 years or better.
A lot of coins!
Thanks in advance for your responses!
0
Comments
I suggest the Excel Spreadsheet (MS Office product) so that future changes can be easily handled
The decline from democracy to tyranny is both a natural and inevitable one.
Lance.
<< <i>Are you asking about organizing the data or grading the coins?
Lance. >>
Right now, just organizing the data.
Since were quite a distance from each other, I'm just devising a plan for when I go visit him again.
I don't have a clue about grading old coins nor do I know much about older coins.
He's got coins from the 1700's, 1800's, and early 1900's of just about every denomination.
My Red Book should help with the US coins.
I'm a modern collector, 1982 and after.
I figure once I get them catalogued, I'll go thru the coin book to see if I can identify key coins.
I'm not sure if I should keep them in rolls or put them in 2x2 flips when I sort thru them.
Thanks.
But if you really don't have a clue about these coins then why did you offer to log his coins? Because you hoped to learn from the experience?
I'll bet you will. Expect to earn about 20c/hour. Maybe.
Lance.
<< <i>country>demonination>year>mintmark>condition
I suggest the Excel Spreadsheet (MS Office product) so that future changes can be easily handled >>
edit above
An example from my inventory looks like this: US$5.1999W.001
For graded coins my serial number for a coin is the last five digits of the grading S/N, ex: US$5.1999W.56845
The decline from democracy to tyranny is both a natural and inevitable one.
Any gold?
It could prove invaluable
Are any of the rolls original bank wrapped?
I know for cents they'd probably be more valuable if left unopened.
Just a few ideas.
Good luck and have fun.
BTW, I'm jealous.
<< <i>Were these all circulation pulls?
I would imagine all his coins came from circulation. (gifts or change)
The majority being Silver. (nickels, dimes, quarters, half dollars, and dollars)
It's a pretty substantial collection - more than what I thought or bargained for!
He was a cigar box collector. He would roll them and put them in a cigar box
and store them away (probably had something to do with the depression).
Any gold? >>
No. None that I'm aware of at this time.
<< <i>I estimate he has approximately $8,000 in face value of Foreign and US coins. >>
$8,000 in FACE VALUE??? Holy cow that's a lot of coins. Must way more than one hundred pounds.
Based on what you have stated, I agree that excel and pertinent columns be used.
Plan of attack may be something like:
* Separate into denominations.
* Decide if it matters to him if the low grade, bullion value only, coins can just be lumped together as "200 quarters, bullion only" and set aside from the rest like that.
* As you put them in to the spreadsheet, definitely have a column for location. $8000 face is a LOT of coins and it is doubtful that, when you want to find them, you will just be able to find a specific coin unless you separate and have a location.
* Think of some breaking point where you think something is above a certain value ($20? $50? $100?) and put aside specifically. Key dates. Semi-keys. Higher grades.
* Take scheduled breaks so you don't burn yourself out. I did similar for my uncle 3-4 years ago. Nowhere NEAR the volume you have stated, but I still spent hours doing it. Breaks get necessary.
* As Swampboy said, if original (bankwrapped) rolls, try not to open them. Photos and show here, or to a trusted friend/dealer, to get an idea. You could destroy real value by doing that.
* Any PVC in the area (in old flips, etc)...GET RID OF IT ASAP.
* As you probably know, don't let him, you, or anyone else do any "cleaning" of the coins.
* Nicely toned coins may want to be put aside as well....value could be much greater if nicely toned, particularly if graded by PCGS.
* Along with original wrapped rolls, what about proof sets or mint sets? You said many were circ fines, but there may be original government packaged coin sets as well. If so, keep everything together.
* Coins from the 1700s would be quite interesting if US coins. If not, bone up on world coins
* Try to get some pictures. Great pictures are great, but not always possible...particularly for that many coins, but certain coins that may have high value, may be best to try to get a good picture so people can offer suggestions.
* Get a good loupe if you don't have one already.
* Get a cherrypicker's guide....some varieties are easier to spot than others and may be worth it to find.
*** Most of all, have fun!
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
<< <i>My first cut would be to separate all the junk silver, and the actual junk, from the numismatic coins. >>
This is your best starting point. The on-line PCGS price guide is a good source to help determine what is junk and what is numismatic. Even without a final "grade" the price guide gives a good idea what years and mintmarks are worth further investigation. Put all the junk together in lots/rolls to make it easier on completing the spreadsheet. "Bag of 200 junk silver dimes" is a lot easier spreadsheet entry than 200 separate junk silver dimes.
The decline from democracy to tyranny is both a natural and inevitable one.
<< <i>I think you are obviously doing this because it is family and not for some monetary return right now.
Based on what you have stated, I agree that excel and pertinent columns be used.
Plan of attack may be something like:
* Separate into denominations.
* Decide if it matters to him if the low grade, bullion value only, coins can just be lumped together as "200 quarters, bullion only" and set aside from the rest like that.
* As you put them in to the spreadsheet, definitely have a column for location. $8000 face is a LOT of coins and it is doubtful that, when you want to find them, you will just be able to find a specific coin unless you separate and have a location.
* Think of some breaking point where you think something is above a certain value ($20? $50? $100?) and put aside specifically. Key dates. Semi-keys. Higher grades.
* Take scheduled breaks so you don't burn yourself out. I did similar for my uncle 3-4 years ago. Nowhere NEAR the volume you have stated, but I still spent hours doing it. Breaks get necessary.
* As Swampboy said, if original (bankwrapped) rolls, try not to open them. Photos and show here, or to a trusted friend/dealer, to get an idea. You could destroy real value by doing that.
* Any PVC in the area (in old flips, etc)...GET RID OF IT ASAP.
* As you probably know, don't let him, you, or anyone else do any "cleaning" of the coins.
* Nicely toned coins may want to be put aside as well....value could be much greater if nicely toned, particularly if graded by PCGS.
* Along with original wrapped rolls, what about proof sets or mint sets? You said many were circ fines, but there may be original government packaged coin sets as well. If so, keep everything together.
* Coins from the 1700s would be quite interesting if US coins. If not, bone up on world coins
* Try to get some pictures. Great pictures are great, but not always possible...particularly for that many coins, but certain coins that may have high value, may be best to try to get a good picture so people can offer suggestions.
* Get a good loupe if you don't have one already.
* Get a cherrypicker's guide....some varieties are easier to spot than others and may be worth it to find.
*** Most of all, have fun! >>
=======================================
Many Thanks For Your Comments!
The suggestions you made were just what I was looking for!
I got a lot more ideas thanks to your suggestions!!
Thanks You Very Much!
<< <i>Some worn dateless can still be identified by the other features, so do not be quick to cast the dateless aside. >>
And those can be keys and semi keys still worth money
<< <i>
<< <i>Are you asking about organizing the data or grading the coins?
Lance. >>
Right now, just organizing the data.
Since were quite a distance from each other, I'm just devising a plan for when I go visit him again.
I don't have a clue about grading old coins nor do I know much about older coins.
He's got coins from the 1700's, 1800's, and early 1900's of just about every denomination.
My Red Book should help with the US coins.
I'm a modern collector, 1982 and after.
I figure once I get them catalogued, I'll go thru the coin book to see if I can identify key coins.
I'm not sure if I should keep them in rolls or put them in 2x2 flips when I sort thru them.
Thanks. >>
I'd like to see pics of this stash of coins. You do need to search for the keys right away and place them in coin envelopes to protect them. Your redbook will come in handy when checking the mintages of the coins. It actually works backwards, you read the book, see which dates have low mintages and then check your inventory. This is how you will discover the keys, semi's included.
Write on the envelopes the denomination, date and condition; circ. for circulated, unc for uncirculated and possible gem or proof if you know what those are. Then place the envelopes in 2x2 boxes with lids, marking the box, in this case; "The keys"
You can do simpler sorting by separating the copper coins from the silver, larger coins from the smaller coins, earlier dates from later dates. Everything in good condition on the early dates should be placed in envelopes and in boxes labeled coppers, silver, dimes, quarters, half dollars and dollars. Same thing for unc coins. Set the rolls aside. Once you have some system going, just from viewing each coin, you will learn a great deal about how coins grade. Some will look very nice while others may have a dirty look. Always wash your hands with a non oily soap and handle all coins by the outside rim/edge. And as mentioned, don't attempt to clean any of the coins or you will ruin any numismatic value of that coin.
But the key to sorting is coming up with the categories and proper handling and storage of the coins. Place them in labeled envelopes and boxes and write down in a notebook under the title of the box what coin went into that box for future reference.
And don't forget to come back with some pics of the piles of coins.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
If you need help, post some pictures.
Member, Society of Silver Dollar Collectors.
Looking for PCGS AU58+ 1901-P, 1896-O, & 1894-O
How did you determine value in U.S. Dollar ? Some of that foreign stuff has no exchange rate since it's obsolete and some of the book values are way off target.
Organize it into country, decades, centuries. U.S. is tough enough. Have fun most of all… Sounds like someone did for 90 years. For starters, catalogs are
e-Sent-ya'll
essential
No spam intended.
However, in order to categorize, you're already going to organize and in order to most effectively do this, one needs the catalog or research Heritage, eBay, or use Google online. In light of all the work it takes, it's not an easy task. Enjoy. That's the key.
I think you are obviously doing this because it is family and not for some monetary return right now.
Based on what you have stated, I agree that excel and pertinent columns be used.
Plan of attack may be something like:
* Separate into denominations.
* Decide if it matters to him if the low grade, bullion value only, coins can just be lumped together as "200 quarters, bullion only" and set aside from the rest like that.
* As you put them in to the spreadsheet, definitely have a column for location. $8000 face is a LOT of coins and it is doubtful that, when you want to find them, you will just be able to find a specific coin unless you separate and have a location.
* Think of some breaking point where you think something is above a certain value ($20? $50? $100?) and put aside specifically. Key dates. Semi-keys. Higher grades.
* Take scheduled breaks so you don't burn yourself out. I did similar for my uncle 3-4 years ago. Nowhere NEAR the volume you have stated, but I still spent hours doing it. Breaks get necessary.
* As Swampboy said, if original (bankwrapped) rolls, try not to open them. Photos and show here, or to a trusted friend/dealer, to get an idea. You could destroy real value by doing that.
* Any PVC in the area (in old flips, etc)...GET RID OF IT ASAP.
* As you probably know, don't let him, you, or anyone else do any "cleaning" of the coins.
* Nicely toned coins may want to be put aside as well....value could be much greater if nicely toned, particularly if graded by PCGS.
* Along with original wrapped rolls, what about proof sets or mint sets? You said many were circ fines, but there may be original government packaged coin sets as well. If so, keep everything together.
* Coins from the 1700s would be quite interesting if US coins. If not, bone up on world coins
* Try to get some pictures. Great pictures are great, but not always possible...particularly for that many coins, but certain coins that may have high value, may be best to try to get a good picture so people can offer suggestions.
* Get a good loupe if you don't have one already.
* Get a cherrypicker's guide....some varieties are easier to spot than others and may be worth it to find.
*** Most of all, have fun!
Just an update on 12/15/2015:
In 2013, my uncle (being about 90 years old) couldn't live by himself. We boarded his house and our family took him in. He always said he had about $7000 - $8000 face valus in coins. I told him I would catelog his collection. Well, when we went back to his house we found it burgularized and many of his things were missing. Unfortunetly, he didn't inventory anything, so we really didn't know exactly what he had. We recovered about $1000 face value of his coins and I have logged about 95% of his collection. Before he passed away this past November, he was able to see about 4,000 of his coins boxed, put in cardboard flips and catalogued in excel. He was very proud. I just wanted to say Thanks to everyone who gave me suggestions on how to handle this process! Some of the items in his collection were as follows: 206 Morgan and Peace Dollars, 1,700 Mercury dimes, 2,720 Roosevelt dimes, 135 lincoln cents from 1909 - 1919, 211 lincoln cents from 1920 - 1929, 461 lincoln cents from 1930 - 1939, 2,590 lincoln cents from 1940 - 1949, 3,486 lincoln cents from 1950 - 1959, 472 Foreign Coins from 28 different countries. Many Thanks!! and Happy Holidays To All!!