Home U.S. Coin Forum

Inherited uncirculated coin hoard, what do to?

13»

Comments

  • BAJJERFANBAJJERFAN Posts: 31,395 ✭✭✭✭✭

    @LindeDad said:

    @AMRC said:
    Step 1 - Seek out a qualified PCGS/NGC Authorized Dealer that does qualified appraisals.
    Step 2 - Get a qualified appraisal done - Not a Buy offer, but a real fee-based Market Appraisal.
    Step 2 Caveat - If it is all the same type of stuff as in the photo, modify Step 2 to be "create an inventory by Denomination, Date and Type.
    Step 3 - Decide what if anything you want to keep as mementos etc.
    Step 4 - Decide if you want to wholesale it en masse, or take a shot at selling it yourself. The Appraisal should include both a retail and "expected" wholesale value (if the appraiser is worth his salt). Do not let anyone TELL you what the right thing to do here is. I have seen it work both ways, but consider the time and energy it REALLY takes to take that on.
    Step 5 - Sell the rest via wholesale (easy but less return) or retail (more work, but higher return). If you choose the wholesale route, talk to a few dealers and pick the one that YOU are most comfortable with.

    This is worth repeating and taken as sound advise.....

    How much would you charge to appraise that mess? Assume that you're not going to get the coins offered to you.

    theknowitalltroll;
  • cameonut2011cameonut2011 Posts: 10,181 ✭✭✭✭✭
    edited February 28, 2017 5:48PM

    @QCCoinGuy said:

    Just playing devil's advocate here, but what if the dealer proposed to the potential seller that he or she could take the face value material to the bank OR leave it with him? At least the dealer is being up front in that scenario. Having worked at a shop for many years, I would just say that not all dealers are looking to nab FV stuff and scam people out of a small profit. It's often burdensome material to hang onto anyway.

    I didn't say the dealer was trying to rip off the original poster. If I was a dealer, I wouldn't want the state quarter material and don't necessarily blame him (although it would be stupid if there are other coins as the Reddit post suggests there are including classic gold). From a selling standpoint, I would rather spend or deposit them a few at a time at a bank. If I wouldn't get anything above face out of it, why would I hand them out to someone else to make money on?

  • QCCoinGuyQCCoinGuy Posts: 335 ✭✭✭✭
    edited March 1, 2017 9:09AM

    @cameonut2011 faced with the option of hauling an ice cooler's worth of state quarter rolls to the bank or leaving it with a dealer who readily admits he will attempt to make a small profit, I have no issue leaving it with the dealer. Why not support collectors and dealers who make the hobby viable? Surely the thought of someone making a small amount of money off state quarters isn't that horrible. If the dealer is honest and wants to give it a go, I would encourage it. Again, biased opinion here, but that's how I see it. The other material is obviously an entirely different matter.

  • 53BKid53BKid Posts: 2,176 ✭✭✭

    AMRC, you've provided a couple of great responses. Good insight to an honest dealer's thinking. Thanks!

    HAPPY COLLECTING!!!
  • derrybderryb Posts: 37,691 ✭✭✭✭✭

    @oih82w8 said:
    Does anyone else find it odd that the OP posted ONCE (and only once on the forum) and nothing since?

    non-coin collector, did his research, and came to what he thought to be the place for expert advice. Give it to him.

    No Way Out: Stimulus and Money Printing Are the Only Path Left

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file