Grandfather's Collection; 80 years of Collecting Morgans, Need help!

OperationButter · December 11, 2012 3:34AM

Hello All

This xmas I have the responsibility of going through my grandfather's coins and separating them into several equal piles for the grandkids. Sadly my grandfather passed a few years back and was the only collector in the family. He was the one that introduced me to collecting at a very young age, and out of everyone, I was the only one to keep with it. It pains me knowing that his collection will be split up and divided (read sold off

) to his grandkids. The reason I am posting this is because of what I know to be in his collection and I need some help from members!

Being from Vegas, old Vegas, he collected lots of silver. He has TONS of Morgans and sadly I know very little about Morgans. When I sit down to go through this to the best of my ability, I need some help identifying some of the rarer coins versus some of the common coins. I wouldnt be shocked to see a ton of CC dollars in there but aside from those, I have zero clue as to what else he has collected. He collected since he was about 8, thats 80 years of collecting that I am going to go through!

Any insight from some of the members on what to look out for would be super helpful. Appreciate the responses!

Ryan

edit: Equal in $ value, not # of coins

MsMorrisine · December 11, 2012 3:39AM

equal may be hard.

you need a professional.

try to schedule a time with a few in the area and expect to pay for their help.

USMoneylover · December 11, 2012 3:41AM

Start by buying a redbook (for identification, not price). A copy of ANA Grading Standards would also help to get a general idea of the quality of coins you are looking at.

Stuart · December 11, 2012 3:44AM

You may want to post some sample photos of his collection here, to get some preliminary feedback from other forum members. Things to be considered for valuation purposes include:

1) Preservation State (Grade & Condition)
2) Scarcity of Date/Mint
3) Potential Scarce VAM Die Varieties

OperationButter · December 11, 2012 3:48AM

<< equal may be hard.

you need a professional.

try to schedule a time with a few in the area and expect to pay for their help. >>

Appreciate the thought, however, my family is very private and will in no way trust someone else to look at it. Good idea though as I tried this as option #1

OperationButter · December 11, 2012 3:50AM

<< You may want to post some sample photos of his collection here, to get some preliminary feedback from other forum members. Things to be considered for valuation purposes include:

1) Preservation State (Grade & Condition)
2) Scarcity of Date/Mint
3) Potential Scarce VAM Die Varieties >>

That would have been great, if I could. I dont live close to them and currently do not have access. When I go out for Xmas, I will have to do it while being out there. I can handle #1, I was more looking in the direction of help in #2 and #3. Wish I could take photos but its just not possible

MsMorrisine · December 11, 2012 3:52AM

there are trustworthy experts here who could do it at a coin show. we can provide references, and back up provided references. also one need not provide real names in this case if you compensate in cash.

djm · December 11, 2012 3:56AM

The problem with equal is that one grandkid may only get 3 or 4 coins and the other may get 10 coins. While equal in value it may not seem equal to the one getting the fewer high dollar coins.

The mint mark is on the reverse of the coin below the D and O in Dollar.

The commom coins are 1879-S 1880-S 1881-S 1882-S 1883-0 1884-0 1885 1885-0 1886 1887 1888 1900-0 1901-0 1902-0 1904-0 1921

The CC should be separated and maybe photograph them and post them. They can be worth some good money.

The coins from the 1890's are better dates.

You can PM me if you need more help.

OperationButter · December 11, 2012 3:59AM

<< The commom coins are 1879-S 1880-S 1881-S 1882-S 1883-0 1884-0 1885 1885-0 1886 1887 1888 1900-0 1901-0 1902-0 1904-0 1921

The coins from the 1890's are better dates. >>

Appreciate the info!

Equal in $ value, not # of coins, should have put that in the first post, sorry for the confusion to those kind enough to respond

MsMorrisine · December 11, 2012 4:05AM

we understood equal in value and hope your family does.

shame to break up a collecton.

you can browse VAMworld on your own and look for valuable varieties.

Stuart · December 11, 2012 4:06AM

In addition to A Guide Book of US Coins (Red Book) you can also refer to the online PCGS Morgan Dollar Price Guide which posts retail prices for PCGS Certified Coins.

Other coin price guides and other resources are available online for reference.

lcoopie · December 11, 2012 4:08AM

Price guide

djm · December 11, 2012 4:11AM

This is the registry weights the higher the weight the harder the coin is to find Weights

OperationButter · December 11, 2012 4:19AM

<< This is the registry weights the higher the weight the harder the coin is to find Weights >>

Awesome! Thanks

lcoopie · December 11, 2012 4:26AM

are these loose coins collected from circulation (banged up)
or
coins he put in holders and perhaps uncirculated ?

johnrav · December 11, 2012 4:39AM

<< Hello All

This xmas I have the responsibility of going through my grandfather's coins and separating them into several equal piles for the grandkids. Sadly my grandfather passed a few years back and was the only collector in the family. He was the one that introduced me to collecting at a very young age, and out of everyone, I was the only one to keep with it. It pains me knowing that his collection will be split up and divided (read sold off

) to his grandkids. The reason I am posting this is because of what I know to be in his collection and I need some help from members!

Being from Vegas, old Vegas, he collected lots of silver. He has TONS of Morgans and sadly I know very little about Morgans. When I sit down to go through this to the best of my ability, I need some help identifying some of the rarer coins versus some of the common coins. I wouldnt be shocked to see a ton of CC dollars in there but aside from those, I have zero clue as to what else he has collected. He collected since he was about 8, thats 80 years of collecting that I am going to go through!

Any insight from some of the members on what to look out for would be super helpful. Appreciate the responses!

Ryan

edit: Equal in $ value, not # of coins >>

If you know the other grand kids are going to liquidate their share, you might talk to them about having you do this, in order to get maximum or appropriate value (as the only collector.) they have already come to you to split it evenly, so this is what i would recommend back.

In doing so, this would allow you to consult an expert and have a external appraisal as back-up and make it a third party opinion. it would also save your worry that a brother or sister take these to the local 'gold' store and get lowballed.

also easier to split the cash evenly and you might pull 1-2 nice coins each for them to hold onto, in memory. they will be less likely to sell them, if it comes along with a bunch of cash.

OperationButter · December 11, 2012 4:42AM

<< are these loose coins collected from circulation (banged up)
or
coins he put in holders and perhaps uncirculated ? >>

The quick glance I got while out for Thanksgiving makes me believe there is a combo of this. Guesstimates at 30% loose, 10% graded, 60% his own holders/flips. The loose looked to be in g/vg but the ones in his old holders looked au/unc

drfish · December 11, 2012 4:45AM

Newer cell phones take some really good photos. Once the coins are in hand you could post here and get some almost instant feedback.

The Comprehensive Catalogue and Encyclopedia of US Morgan and Peace Silver Dollars by Van Allen namd Mallis is a pretty good book with lots of photos of Vams and Overdates.

Heritage archives/price guides are the best source for current market prices in my opinion. You could print out their price guides-which also list alot of the common overdates,vam's etc. I would use the guide to help choose the dates that need a closer look, rather than closely examine every coin.

Sounds fun and challenging. Sort first by dates, then divide each date into circulated vs uncirculated. Use the Heritage guides to look for Vams and overdates. Then divide up by ballpark value and hopefully everyone is appreciative of your time and efforts.

lkeigwin · December 11, 2012 4:45AM

A couple of thoughts.

Since you are the only collector among the grandkids, chances are great they will liquidate whatever they receive. And probably not wisely.

1) Consider getting a reliable dealer to assess the set at trade-in value. Maybe there's a way to buy the shares of the grandchildren, or trade other inheritance items for them.
2) Sort the coins by denomination, without regard to value, into the number of buckets representing the heirs. Blindly. Number them. Have each grandchild draw a number and get that lot. Luck of the draw!
3) Sort the coins by value based on an appraisal, and use the above lottery.

You can imagine other variations, like blindly picking a coin for each heir, in rotation.

Of course you ought to get consensus before you decide how to distribute the coins. And an appraisal makes sense regardless but if it's going to cost you'll want to make sure everyone agrees to sharing it.

My guess is the non-collectors will want an appraisal and a sale of everything, and their fair shares. Tidy but very unsatisfying for the collector in you.
Lance.

mustangmanbob · December 11, 2012 4:46AM

I went through something similar 5 years ago, in that case, it was Magic Cards, from my sister and her husband's estate.

To me, they were just knock-off baseball cards, I knew nothing about them, but my sister had been a dealer early in the development of these cards.

I am a engineer, and just approached it like any engineering problem, so I started internet searches, and read posts on several web sites.

I created an excel sheet, and started listing them by type, quantity, etc. In your case, you can rip a file from PCGS of all the dates/mint marks, and even the prices for certified coins, rip another file of grading standards, and then start plugging in some coins into the spreadsheet to get an idea of what is worth more study, and what is likely to just be bulk.

For example, in the Magic Cards, there is the Power Nine. Had no idea of what they were, but all the websites talked about them. I found lots of images, and found 22 IIRC of the power 9 cards. When I went to ask questions, some people slammed me because NO ONE THAT HAD that many would not know what they were. These cards can easily go over $1000 each, and there are grading services, like PCGS, for cards. Check out the prices of the Black Lotus:

I found one small box marked Alpha Set and another marked Beta Set. I wound up selling the alpha set for $14,000 and the Beta Set for $9,000.

The game has IIRC, over 20 series, and each serries has over 200 different cards, so the possibilities are huge.

My sister had arranged them based on selling, ways they were played for games, etc.

I resorted them based on what made sense to me, by series, and the alphabetically, so I could find them again, based on the spread sheets I had made.

Bottom line, in a large suitcase sized box, there was over $80,000 in cards, sold mostly on ebay.

Time and patience are your friends.

Black Lotus

silverman68 · December 11, 2012 4:48AM

Research your coins with Ebay sold listings or go get them appraised by a professional. Do Not take any offer as fair before you do your homework. good luck

mkman123 · December 11, 2012 4:49AM

my advice, get a redbook and take the rarest coins and keep those. Give the rest of the non collectors in the family, the not so rare stuff

yosclimber · December 11, 2012 4:50AM

<< In addition to A Guide Book of US Coins (Red Book) you can also refer to the online PCGS Morgan Dollar Price Guide which posts retail prices for PCGS Certified Coins.

Other coin price guides and other resources are available online for reference. >>

Agreed. You should buy yourself a copy of the Red Book (by R.S. Yeoman) for Xmas. It's an essential book for a US coin collector.
Then you will have a nice compact published book with you to do the inventory, and the other heirs can view it if they want to verify the fairness of the division.
If you don't have a quick way to buy a copy, perhaps you can borrow it from your local library - many libraries have copies of it for loan.
It's OK if it's dated by a year or two, because the relative value of the coins for the purposes of dividing should be stable.

You can also use the PCGS online price guide, but it requires and internet connection (or an offline save).
The PCGS guide could also be useful if the collection contains many high grade (uncirculated) coins.
But unless the grades (like MS-63) are marked on the holders, it would require expertise for grading uncirculated Morgans.

Here's a simple strategy if you want to start now, using the PCGS price guide:
1. Determine if most of the coins are circulated (have some wear), or are uncirculated (in holders, possibly with grades marked on the holder)
2. If most are circulated, use the PCGS price guide (or Red Book) to separate out the common coins.
Looking at the PCGS price guide ("Most Active" tab), for 1878 8TF, you can see the values in the columns 4, 12 and 40 are fairly close to each other.
These numbers are circulated grades, with 4 being "Good-4", which is pretty well worn, and 40 is "Extremely Fine 40", which has very little wear.
Most likely, his coins are ciculated and in grade 40 or below, in which case you can use the values in the 40 column to determine relative value.
3. Looking down that column, the most common dates have a value of $36-37. Separate those coins out from the rest and divide them equally.
4. If you find coins with higher values or that look uncirculated, evaluate those separately.

If you would care to disclose the city where the coins are located, you might be able to get help from a local forum member to evaluate a few of the
highest grade coins. Or post photos.
Most likely, they will be circulated, and most may be dated 1921 which is the most common and lowest value date.
So you should be able to do most or all of this by yourself without much problem.

[Edit:] I wrote the above before I saw your post which said 10% graded, 60% in his own holders.
So you may indeed have the problem of grading the AUs and UNCs, unless he has grades written on his holders.
And the PCGS price guide may be quite useful.
It should be fun to evaluate them and see if he has any really cool ones.
Looking for VAM die varieties is another level of effort, but those might be marked on his holders as well if he was interested in those.
Good work on the standing offers of 10% above pawn shop.
Come armed with a stack of $100s so they see the cash and know you are serious.

OperationButter · December 11, 2012 4:55AM

That was a great story, thanks for sharing!

Lance your #2 and #3 options are what they wanted to do at the beginning. Makes me sad that all my grandfathers hard work and time would go into a blind lottery for his grandkids to pick at

Thankfully, they want me to look at them, give them a quick breakdown on what is "junk" and what is good. From there divide it up as even as possible and everyone goes their own way. One of the grandkids (my brother) will keep his share. He knows how much they meant to my grandfather and wont sell out like the others. The others, sadly, are not very smart and I wouldnt be surprised to see them go to a pawn shop or a cash for gold place. I have already made standing offers that whatever a random dealer/shop will buy them at, I will give them 10% more. I hope they take me up on that offer...

Stuart · December 11, 2012 5:00AM

In addition to the Red Book, you should also obtain a copy of A Guide Book of Morgan Silver Dollars by Q David Bowers (another in the Red Book Whitman series). I think it's in the 4th edition.

This would be an inexpensive investment in a book entirely devoted to the series. Well worth the money!

OperationButter · December 11, 2012 5:05AM

<< It's OK if it's dated by a year or two, because the relative value of the coins for the purposes of dividing should be stable. >>

Last red book i have is 2009, should I update?

<< 
Here's a simple strategy if you want to start now, using the PCGS price guide:
1. Determine if most of the coins are circulated (have some wear), or are uncirculated (in holders, possibly with grades marked on the holder)
2. If most are circulated, use the PCGS price guide (or Red Book) to separate out the common coins.
Looking at the PCGS price guide ("Most Active" tab), for 1878 8TF, you can see the values in the columns 4, 12 and 40 are fairly close to each other.
These numbers are circulated grades, with 4 being "Good-4", which is pretty well worn, and 40 is "Extremely Fine 40", which has very little wear.
Most likely, his coins are ciculated and in grade 40 or below, in which case you can use the values in the 40 column to determine relative value.
3. Looking down that column, the most common dates have a value of $36-37. Separate those coins out from the rest and divide them equally.
4. If you find coins with higher values or that look uncirculated, evaluate those separately. >>

Great ideas, thank you

<< If you would care to disclose the city where the coins are located, you might be able to get help from a local forum member to evaluate a few of the
highest grade coins. Or post photos. >>

Las Vegas. I plan on letting Bob (auag) get a look at a few of the "rarer" ones if the family lets me. Bob doesnt know this yet

He didnt have grades written on all of them when I got to glance at them. Some did, most didnt

SlangNRox · December 11, 2012 5:06AM

I was in a similar situation a couple of times. One was junk silver in rolls that I just blindly split evenly. I bought out my sisters share, but didn't even approach anyone else about becuase they would probably think they were being taken advantage of by me.

I purchased Q David Bowers book A Guide Book of Morgan Silver Dollars. It's probably not the best in terms of a quick way to determine value, but it should be a book to have on hand if you have any interest in Morgans.

I would try to have some tables like the pcgs price guide for quick value reference handy when you look at the coins. I would also try to get the other relatives who will be receiving them involved just so it appears to be divided up fairly. Either have help dividing them up or make equal value piles and have each person pick one pile, just so they don't think you got some kind of advantage. I think there is always a really good chance of fights etc between family when dividing up anything of value. If there are tons of coins slowly make equal value piles and have each person pick a pile and keep doing this until all the coins are divided up. Dealing with a hoard of coins I woiuldn't bother trying to identify rare varieties. Just divide them up as best you can based on value from date/mm/grade and try not look back at coins you didn't get to take a closer look at. (I assume your time will be limited to check out the coins and divide them up)

Getting an outside appraisal and splitting the profits would also be a good was to go. It could also help with taxes if you have a stepped up cost basis from when he passed away.

Don't forget to bring some supplies as well. 2x2s or tubes would be good to have.

I"m in the process of helping a relative sell his dad's coin collection hoard. It is really overwhelming. Just be glad there is a coin collector in your family and good luck finding a fair way to divide them up that makes everyone happy

GoldenEyeNumismatics · December 11, 2012 5:11AM

What area of the country do you live in?

OperationButter · December 11, 2012 5:12AM

<< I was in a similar situation a couple of times. One was junk silver in rolls that I just blindly split evenly. I bought out my sisters share, but didn't even approach anyone else about becuase they would probably think they were being taken advantage of by me.

I purchased Q David Bowers book A Guide Book of Morgan Silver Dollars. It's probably not the best in terms of a quick way to determine value, but it should be a book to have on hand if you have any interest in Morgans.

I would try to have some tables like the pcgs price guide for quick value reference handy when you look at the coins. I would also try to get the other relatives who will be receiving them involved just so it appears to be divided up fairly. Either have help dividing them up or make equal value piles and have each person pick one pile, just so they don't think you got some kind of advantage. I think there is always a really good chance of fights etc between family when dividing up anything of value. If there are tons of coins slowly make equal value piles and have each person pick a pile and keep doing this until all the coins are divided up. Dealing with a hoard of coins I woiuldn't bother trying to identify rare varieties. Just divide them up as best you can based on value from date/mm/grade and try not look back at coins you didn't get to take a closer look at. (I assume your time will be limited to check out the coins and divide them up)

Getting an outside appraisal and splitting the profits would also be a good was to go. It could also help with taxes if you have a stepped up cost basis from when he passed away.

Don't forget to bring some supplies as well. 2x2s or tubes would be good to have.

I"m in the process of helping a relative sell his dad's coin collection hoard. It is really overwhelming. Just be glad there is a coin collector in your family and good luck finding a fair way to divide them up that makes everyone happy >>

Thanks for sharing, this is what I expect it will be like for me as well. 80 years of collecting, I can guess that there are 1000+ coins to go through if not more. I let them know ahead that it will take time to go through it in a fair manner. They all agreed and said they wouldnt bug me too much, I doubt that will hold true though

Great idea on supplies!

I know that my grandfather has some rare coins in there, I just cant stomach those getting sold off to a pawn shop or something.

scotty1419 · December 11, 2012 5:15AM

<< I went through something similar 5 years ago, in that case, it was Magic Cards, from my sister and her husband's estate.

To me, they were just knock-off baseball cards, I knew nothing about them, but my sister had been a dealer early in the development of these cards.

I am a engineer, and just approached it like any engineering problem, so I started internet searches, and read posts on several web sites.

I created an excel sheet, and started listing them by type, quantity, etc. In your case, you can rip a file from PCGS of all the dates/mint marks, and even the prices for certified coins, rip another file of grading standards, and then start plugging in some coins into the spreadsheet to get an idea of what is worth more study, and what is likely to just be bulk.

For example, in the Magic Cards, there is the Power Nine. Had no idea of what they were, but all the websites talked about them. I found lots of images, and found 22 IIRC of the power 9 cards. When I went to ask questions, some people slammed me because NO ONE THAT HAD that many would not know what they were. These cards can easily go over $1000 each, and there are grading services, like PCGS, for cards. Check out the prices of the Black Lotus:

I found one small box marked Alpha Set and another marked Beta Set. I wound up selling the alpha set for $14,000 and the Beta Set for $9,000.

The game has IIRC, over 20 series, and each serries has over 200 different cards, so the possibilities are huge.

My sister had arranged them based on selling, ways they were played for games, etc.

I resorted them based on what made sense to me, by series, and the alphabetically, so I could find them again, based on the spread sheets I had made.

Bottom line, in a large suitcase sized box, there was over $80,000 in cards, sold mostly on ebay.

Time and patience are your friends.
>>

Brings back childhood memories

OperationButter · December 11, 2012 5:17AM

<< What area of the country do you live in? >>

Coins are in Las Vegas

scotty1419 · December 11, 2012 5:19AM

It's only 80, not 5,000 lol.

As if you haven't already gotten an earful of advice... sort by year/mint. Pull up numismedia.com priceguides and that'll give you a basic idea. Any suggestions of high value and then start making certain of grades etc.

No need to buy 4 books for a project like this.

AND HAVE FUN!

OperationButter · December 11, 2012 5:21AM

<< It's only 80, not 5,000 lol.

As if you haven't already gotten an earful of advice... sort by year/mint. Pull up numismedia.com priceguides and that'll give you a basic idea. Any suggestions of high value and then start making certain of grades etc.

No need to buy 4 books for a project like this.

AND HAVE FUN!

>>

More closer to 1000+, Title was incorrect supposed to state 80 years of Collecting Morgans. Kind of forgot the word "Collecting" /facepalm

yosclimber · December 11, 2012 5:21AM

<< 

<< It's OK if it's dated by a year or two, because the relative value of the coins for the purposes of dividing should be stable. >>

Last red book i have is 2009, should I update? >>

2009 will be good.
It won't have the increase in silver bullion value for the low end, relative to the high end.
But it will be great for separating the common dates from the more valuable ones, and as a reference for your siblings to look at.

<< Las Vegas. I plan on letting Bob (auag) get a look at a few of the "rarer" ones if the family lets me. Bob doesnt know this yet

>>

Perfect - you have a good plan.

<< He didnt have grades written on all of them when I got to glance at them. Some did, most didnt >>

You will find that for the common dates, values for the Uncirculated grades are also similar.
[It will help if you can differentiate AU from Unc on Morgans]
So you could just put the Unc commons into a pile and divide them equally.
Most likely they will be MS-63 or so, and it will take expertise to differentiate 62, 63, 64, 65.
This is an area where the siblings could start a fight. They may look at the Red Book or PCGS price guide and look at the highest value,
like MS-65 and think they are all worth that.
Here is where it will help to have that randomized / pick a pile strategy.

ambro51 · December 11, 2012 5:31AM

Three posts to bring up VAM. You guys are slipping

OperationButter · December 11, 2012 5:40AM

Want to say thanks for all those that have sent me PM's offering to help with any part of the process. Its nice to know that there are friendly people willing to help random people out.

Also thanks to everyone for their responses thus far, some very good information!

Ryan

scotty1419 · December 11, 2012 5:54AM

<< 

<< It's only 80, not 5,000 lol.

As if you haven't already gotten an earful of advice... sort by year/mint. Pull up numismedia.com priceguides and that'll give you a basic idea. Any suggestions of high value and then start making certain of grades etc.

No need to buy 4 books for a project like this.

AND HAVE FUN!

>>

More closer to 1000+, Title was incorrect supposed to state 80 years of Collecting Morgans. Kind of forgot the word "Collecting" /facepalm >>

DOH

RichR · December 11, 2012 5:59AM

I'll give you $100 bucks [cash money] for the entire lot!

jmski52 · December 11, 2012 6:05AM

You'll be fine. Just take your time. Identify the rare pieces and also the most pristine pieces for more scrutiny, and go from there. It's not a race, unless the family is in a hurry (which they shouldn't be).

OperationButter · December 11, 2012 6:08AM

<< You'll be fine. Just take your time. Identify the rare pieces and also the most pristine pieces for more scrutiny, and go from there. It's not a race, unless the family is in a hurry (which they shouldn't be). >>

Thanks Jerry

roadrunner · December 11, 2012 6:15AM

It should not be hard to find a trustworthy person to look at the coins for you. The risk is minimal if you do your homework. With 1,000 coins of different dates and grades I'd
suspect they'd be worth $40K to $100K. I'd be happy to come down and spend a day looking over the coins for the price of a lunch or dinner. Unfortunately, I live 2500 miles away
so can't get 'er done. A friend of my sister had a small accumulation of coins that she knew nothing about. As the collector in the family I told her to bring them to Thanksgiving
dinner and I'd go through them for her. As it was most of the value was just from the 90% silver coins. I suggested she just sit on them for another few years. Silver has more rise
left in it.

There are 7 PCGS dealers in the Las Vegas area. There are also coin shows routinely in the area. Probably a decent number of knowledgeable collectors as well. I don't see it
being hard to find someone to help that won't charge an arm and a leg. You might even find a local collector off the board to help for a minimal fee. But you can sort out the good
dates and higher grades. I suspect only a few hundred coins at most (probably <100) will be the ones with the majority of the value. Is this a complete date set by any chance or
just an accumulation? The lack of a 93-s or 89-cc will answer that question real quick. Not a big fan of the grab bag idea as no doubt down the road the grand kids that didn't score
will never let the others forget that. The coins can be put into general groups of equal value and from there they can pick. If they do a little homework they might be able to pick
the coins better than if they did no preparation. If I were going to get some of grand dad's coins and knew nothing about Morgan dollars, I'd spend a weekend learning about them,
esp. dates, condition, and value. That would be a proper way to honor his memory.

OperationButter · December 11, 2012 6:48AM

<< You might even find a local collector off the board >>

AuandAg (Bob) is local and very knowledgeable. I trust him and have already nominated him to help (If allowed by the family). Thankfully, he agreed

, now just hope the family does.

<< Is this a complete date set by any chance or just an accumulation? The lack of a 93-s or 89-cc will answer that question real quick. >>

Im not sure tbh, my grandfather collected for so long, I wouldnt be surprised that he had it by complete date. Knowing him, I wouldnt be surprised if he had several of each coin in a full date set, one for each grandkid. Every year for xmas he would give us coins and tell us why he collected and that someday his entire collection would be for us. That he had something "special" for all of us when we were older. I know that there will be tons of birth year coins for each grandkid... too bad we werent born in the 1890s!

<< If I were going to get some of grand dad's coins and knew nothing about Morgan dollars, I'd spend a weekend learning about them, esp. dates, condition, and value. That would be a proper way to honor his memory. >>

I would be thrilled if they did that. However, I know my family and I know that they didn't. I really hope they dont sell it all off

Coinosaurus · December 11, 2012 10:53AM

<< 
Appreciate the thought, however, my family is very private and will in no way trust someone else to look at it. Good idea though as I tried this as option #1 >>

I think this is a train wreck waiting to happen. You are supposed to divide these equally - the moment two people sell and the price isn't the same, YOU are the bad guy. I would refuse to participate unless you can call in the professionals.

AMRC · December 11, 2012 11:10AM

You should not do this for several reasons. Some obvious, some not so obvious. Consider hiring a professional to come in and appraise the collection and work with the trustee of the estate to decide, what if anything shoould be graded. Once you have the total dollar value you should offer to buy-out or sell the coins and give everyone their fair share in dollars. Otherwise, someone will always feel slighted.

Nickcap · December 11, 2012 11:29AM

I too collect Morgans.

I ttrust what Bob, aka AU and AG, would say.

On a different note, dispersing of an estate is nightmare waiting to happen. My dad passed in 2001 and it wasn't even 24 hrs after thr funeral when my siblings went crazy about getting all his stuff. It gets ugly quick.

DeliaBug · December 11, 2012 11:34AM

Is there an executor? This is their job. The estate pays for the appraisal. If you happen to be doing the appraisal so be it.

Edit for spellins.

OperationButter · December 11, 2012 12:09PM

Thanks for all the input. Think we are getting a bit off topic.

I am set for the job, no one else but me, unless I let them split it up by # of coins and not value/rarity. These are the only 2 options. I am going to double check if they bring in a professional, but as talks have gone so far, they have been 100% against it. It must get dispersed to the grand kids at Xmas, I can not be in charge of sales and splitting later etc.

The purpose of the post was to get feedback on what I should be looking for and to give me ideas on the best way to allocate/separate the collection in the most fair way possible. I have taken the advice to purchase the Morgan book (just ordered on Amazon) and will definitely read up. I thank all that have messaged and responded here, it has really helped.

If anyone else would like to add anything to what specifics I should be looking for (rarities, harder to find dates etc), it would be appreciated. I know this info is in the book, but there is so much wealth of knowledge on the boards that it would be silly of me not to ask the experts for a bit of help.

Thanks again!

pennyannie · December 11, 2012 12:27PM

OperationButter- Once you get the coins sorted and divided you should offer to buy out the other grandkids if they are planning on selling. Make an offer or go with them when they go to the coin store to sell them and pay what they are offered.

Sounds like you are going to see a lot of cool coins with stories behind them.

mustangmanbob · December 11, 2012 1:00PM

I am having to this (again) only this time it is my father's stamp collection.

The Scott value is over $1 million for the US stamps, but he focused more on English stamps, and that is where the value probably is. There are countless varieties, perferations, ink colors, etc. Many of the stamps (from 1880 to 1920) or so, do not even have "places" in the books for them, as he found a lot of the varieties.

The really hard part is that his collection was set up for himself, with no thought of it being sold.

My dad was on vacation, and thought he had (routine) back problems. He was in the 82nd Airborne, and was a POW, and was injured pretty bad. My wife (Surgical Nurse) and Daughter (ER Nurse) fussed at him to see a doctor, but he only saw the GP he had seen for years. Finally my daughter, sweet girl, only 23, said "Grandpa" I've just dialed 911 on my phone. Either you come to the hospital with me, or I push call, and the ambulance will come get you." He died 9 days later, never leaving the hospital, fully metz'd cancer.

So I am going through boxes of receipts, written in long hand English, not American, and trying to match up what stamp is what. I have no idea if one stamp is $25,000 and the next stamp is $5. The primary dealer he used in England died shortly after my dad.

Fortunatly, I have no time crunch to go through all the stuff, and mostly it just sits in the Safety Deposit Boxes.

My wife has already said that before I die, I had better clean up MY toys, and not leave her with the mess.

DeliaBug · December 11, 2012 1:06PM

<< I am having to this (again) only this time it is my father's stamp collection.

The Scott value is over $1 million for the US stamps, but he focused more on English stamps, and that is where the value probably is. There are countless varieties, perferations, ink colors, etc. Many of the stamps (from 1880 to 1920) or so, do not even have "places" in the books for them, as he found a lot of the varieties.

The really hard part is that his collection was set up for himself, with no thought of it being sold.

My dad was on vacation, and thought he had (routine) back problems. He was in the 82nd Airborne, and was a POW, and was injured pretty bad. My wife (Surgical Nurse) and Daughter (ER Nurse) fussed at him to see a doctor, but he only saw the GP he had seen for years. Finally my daughter, sweet girl, only 23, said "Grandpa" I've just dialed 911 on my phone. Either you come to the hospital with me, or I push call, and the ambulance will come get you." He died 9 days later, never leaving the hospital, fully metz'd cancer.

So I am going through boxes of receipts, written in long hand English, not American, and trying to match up what stamp is what. I have no idea if one stamp is $25,000 and the next stamp is $5. The primary dealer he used in England died shortly after my dad.

Fortunatly, I have no time crunch to go through all the stuff, and mostly it just sits in the Safety Deposit Boxes.

My wife has already said that before I die, I had better clean up MY toys, and not leave her with the mess. >>

Mustangmanbob could you please PM me or turn your PM on?

Grandfather's Collection; 80 years of Collecting Morgans, Need help!

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