Help with my Dad's Collection

calgarycollector · February 26, 2013 1:49AM

Hi folks I'm a regular over in the cards forum, know nothing about coins so forgive me before I say anything which is interpreted as stupid.

I've inherited my Dad's coin collection, I'm in my initial steps of attempting to determine what I have and any potential special items, values etc. The collection generally spans Canadian coins from the early 1900's through mid 1970's.

Some hilights include:
- Significant number of US half and Dollar coins from mid 60's through mid 70's
- Early 1900-1915 Newfoundland coins
- Bills - 1900 Shinplaster, 25 cent bill from 1923, $1 1937
- General range of Canadian coins 1900 through 1970

Questions I have for the group:
- Condition/Grading. While I'm quite familiar with PSA for cards and can get pretty close to knowing the grade before submitting I know nothing about coins. I realize grading in coins is likley as important as cards. Is there any information that can help me ballpark pre-determine grades before submitting. I believe most of the collection is from circulated items except for some sets.

- Condition. Should I do anything to improve conditions of coins by cleaning etc or would this be considered altering?

- What is the best online resrouce/price guide to determine potential values.

- How do I cut through all the generic stuff to find the special items. Keeping in mind this is a Canadian collection, is there anything specific I should look for.

- What does coin grading cost, is it by the item similar to cards?

Any help would be appreciated thanks.

mrpotatoheadd · February 26, 2013 1:59AM

Don't clean anything at all. For Canadian coin grading, look here. For Canadian pricing, get a copy of Krause's 2013 North American Coins & Prices, which will help you identify better dates.

derryb · February 26, 2013 2:02AM

for future tax purposes (when you sell) immediately set a basis that is the current value. This will be your "cost" when you later calculate profit. Be aware of not only any inheritance tax consequences but also on how transfer of ownership affects future taxes on profit when sold.

Cameonut · February 26, 2013 2:13AM

I agree with the posts above.
Another inexpensive reference to sort out the better dates is The Charlton Standard Catalogue of Canadian Coins by WK Cross. I see it is now split into two volumes - perhaps Volume 1 will cover most of what you have.

Good luck.

calgarycollector · February 26, 2013 2:43AM

Thanks folks apprecaite the input, just checked and I get pic Krause book locally, will start some research on the website.

originalisbest · February 26, 2013 4:18AM

And indeed, clean nothing, since you could always clean later (if a coin truly needed treatment, very few do) and you can't unclean a coin. Think of it as microtrimming a card in order to make it look "just a bit better."

originalisbest · February 26, 2013 4:21AM

Oh, and as to grading, depending on quantity, it may amount to $20 per coin/higher, once shipping is all in, etc.

So then, very few coins worth say, $50 or less make much sense to slab (unless for sentimental/fun reasons.) On the other hand, coins worth 100, 200, 300 and up would benefit from slabbing, for authentication and grade verification.

HTH!

Dentuck · February 26, 2013 5:21AM

James Haxby recently wrote an award-winning book for Whitman Publishing,
the Guide Book of Canadian Coins and Tokens, which should be helpful.

Help with my Dad's Collection

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