@WillieBoyd2 said:
I would suggest going through your grandfather's notes before doing anything else.
He may have noted the high-value or interesting coins.
Good advice. Started looking through the binders with my husband last night. It is very thorough so may save us some work. Also so interesting! Hand written and meticulous. A step back in time. Thanks!
I would suggest starting with any gold coins first. Post pictures here and let the members value the coins. A few gold coins sold might make it easier to take your time liquidating everything else.
Have A Great Day!
Louis
"If you would know the value of money, go and try to borrow some." Benjamin Franklin
@291fifth said:
The two Morgan Dollars you posted will be base value coins for Morgans. Both are common dates. The 1880-S is MS-60 at best though it may just be a cleaned AU. The 1887-S has been cleaned and is now retoning, but the retoning can't save it as it has a very unnatural look. Even base value Morgan Dollars should easily bring at least $10 each in today's market as they have considerable silver content.
Buy a current copy of the Guide Book of United States Coins, known as the Red Book. Read the text and then check through the collection and pull out any coins that seems to have high catalog values. Don't Clean anything!!!!!!!!!!
Check out the features of the PCGS website as there is a great deal of very useful information to be found. Don't be in a big hurry to sell. Wait until you seem to have a feel for the market.
Interesting! I watched a video on cleaning. My first reaction to your thoughts is that I don't believe any to be cleaned. My husbands grandfather was a meticulous man and collector. But after watching the video I can see it! Now I will be able to spot it on other coins. Thank you!
Misread, yep that is the type of look that you look for. Many time it's pretty obvious - although it is not always.
@Bec said:
Hi thanks, yes they are almost all loose organized in cigar boxes and handling by edges and with gloves. I guess now that I have an idea what to ask, when is a coin worth getting graded? Is there a threshold? Like over $100?
ANACS graded a bunch of lower-value Morgan dollars I inherited, Why bother? Authentication!
There are so many fakes coming from China that some folks -- especially novices and Internet shoppers -- won't buy anything unless it's graded & slabbed by a respected Third-Party-Grader (TPG).
Makes it easy to appraise too.
And if you're keeping some coins for your children, I'm sure they'll appreciate having 'em graded & slabbed.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
I would not bother with ANACS grading, as most collectors will tell you, it is PCGS, NGC or it is like being raw. Even outside of a PCGS forum, you will have 99% of dealers and collectors tell you the same.
@WillieBoyd2 said:
I would suggest going through your grandfather's notes before doing anything else.
He may have noted the high-value or interesting coins.
Good advice. Started looking through the binders with my husband last night. It is very thorough so may save us some work. Also so interesting! Hand written and meticulous. A step back in time. Thanks!
I'd suggest uploading a picture of a page of notes if there's an "inventory list". Deoending on how detailed he's been, that might be enough to get a ballpark for what's in the collection.
Learn about our world's shared history told through the first millennium of coinage: Colosseo Collection
If you’re enjoying the process, the work and the sentimental connection from the process, proceed as you are. Be patient and enjoy. If you no longer have the time or inclination, get a referral from this board to a good dealer or two in your area who could accomplish in one day what would take you weeks. There are some very good professional, reputable dealers who will charge fairly for an evaluation and who will pay a fair price if you choose to sell.
Don't let anyone cherry pick your collection and never take the first offer.
If you could recruit a knowledgeable collector to find out if you have any rare coins that should be graded by PCGS I think that is a good way to start the process.
After getting a good appraisal from a knowledgeable third party without any conflict of interest you will have a much better idea of what you have.
From there you are much better positioned to maximize what you get and if you do have a very rare coin consider having it graded and keep it.
It is no longer a coin market but a market of coins and in most inherited collections 90% of the value may well be in 5-10% of the coins.
Some people tend to get greedy when there is a person with such a collection and try to rip you off.
You seem to be one of few people who in such situations appreciate the collection, the effort required to assemble it, and the family connection. Maybe consider enjoying the process of discovery for it's own sake and then putting the collection away for your grandchildren?
@Veep@oldgoldlover@savitale
All good things to consider! Thanks for your feedback. We are enjoying the process. I think we are going to do as a couple of you have suggested and try to find the most valuable coins first to deal with. I think it would be fun to take a handful to a coin show and shop them around. A new experience for us and would give us a taste of our kids great grandpa's passion for coins. Would also appreciate recommendations of someone to appraise, if anyone here can refer. We are in Central PA. As far as putting the entire collection away for our grandchildren, it just isn't physically feasible. We went through the "Directory" (as my husbands grandfather called his binders of cataloged info) and it looks to be 16,000+ coins. Too much and too heavy to haul around (IMO) and of course the consideration of safely storing it. We are definitely going to keep a smallish collection for both kids. Also going to have a ring made for my daughter out of a small gold coin and cuff links for my son
As Roger mentioned earlier, seek out a local coin club. Often you will find members who will help you. Start by contacting the club officers and attend a meeting or two. But be aware, there may be club members who may try and pressure you into a sale. Since you seem to be having fun with this ... enjoy the journey and don't rush.
When asking for appraisals, be sure you get the kind of appraisal you want. The two most common values are what someone will pay and what it would cost to replace the coins. Also, if you take somebody's time and energy, anticipate you will incur a cost. Be sure to ask about fees up front. Time is money and altruism is a rare trait in the numismatic marketplace.
You may be surprised how quickly an experienced collector or dealer can evaluate 16,000 coins ... it all depends on what is in the collection and the level of detail. For example, a bag of wheat cents is 5000 coins and likely someone would pay around $75-$100 for the lot. But to catalog and each coin would take hours and cost more than the coins are worth.
Good luck and have fun! And ... don't clean the coins!
Numismatist Ordinaire See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Comments
Good advice. Started looking through the binders with my husband last night. It is very thorough so may save us some work. Also so interesting! Hand written and meticulous. A step back in time. Thanks!
Have A Great Day!
Louis
I wanna play "Guess the grade".
Let's get to the gold!
Misread, yep that is the type of look that you look for. Many time it's pretty obvious - although it is not always.
Successful transactions with: wondercoin, Tetromibi, PerryHall, PlatinumDuck, JohnMaben/Pegasus Coin & Jewelry, CoinFlip, and coinlieutenant.
Include some worn common-date raw silver coins. Then your kids can handle 'em... old silver coins have a "feel" unlike modern stuff. Unique sound too.
But for a "family heirloom" collection, I'd put the coins in something that preserves & protects. Lots of choices.
My preference for many of my raw coins is the black-ring Air-Tite capsules.
Or, go with a self-slab, which allows you to include a do-it-yourself descriptive label.
Whatever you decide, shop around for best prices. Two vendors I like are WizardCoinSupply.com and JPScorner.com.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
The threshold might be lower than you think: ANACS $10/coin Summer Special.
ANACS graded a bunch of lower-value Morgan dollars I inherited, Why bother? Authentication!
There are so many fakes coming from China that some folks -- especially novices and Internet shoppers -- won't buy anything unless it's graded & slabbed by a respected Third-Party-Grader (TPG).
Makes it easy to appraise too.
And if you're keeping some coins for your children, I'm sure they'll appreciate having 'em graded & slabbed.
Successful BST transactions with forum members thebigeng, SPalladino, Zoidmeister, coin22lover, coinsarefun, jwitten, CommemKing.
I would not bother with ANACS grading, as most collectors will tell you, it is PCGS, NGC or it is like being raw. Even outside of a PCGS forum, you will have 99% of dealers and collectors tell you the same.
Join the fight against Minnesota's unjust coin dealer tax law.
I'd suggest uploading a picture of a page of notes if there's an "inventory list". Deoending on how detailed he's been, that might be enough to get a ballpark for what's in the collection.
If you’re enjoying the process, the work and the sentimental connection from the process, proceed as you are. Be patient and enjoy. If you no longer have the time or inclination, get a referral from this board to a good dealer or two in your area who could accomplish in one day what would take you weeks. There are some very good professional, reputable dealers who will charge fairly for an evaluation and who will pay a fair price if you choose to sell.
Don't let anyone cherry pick your collection and never take the first offer.
If you could recruit a knowledgeable collector to find out if you have any rare coins that should be graded by PCGS I think that is a good way to start the process.
After getting a good appraisal from a knowledgeable third party without any conflict of interest you will have a much better idea of what you have.
From there you are much better positioned to maximize what you get and if you do have a very rare coin consider having it graded and keep it.
It is no longer a coin market but a market of coins and in most inherited collections 90% of the value may well be in 5-10% of the coins.
Some people tend to get greedy when there is a person with such a collection and try to rip you off.
You seem to be one of few people who in such situations appreciate the collection, the effort required to assemble it, and the family connection. Maybe consider enjoying the process of discovery for it's own sake and then putting the collection away for your grandchildren?
LIBERTY SEATED DIMES WITH MAJOR VARIETIES CIRCULATION STRIKES (1837-1891) digital album
@Veep @oldgoldlover @savitale
All good things to consider! Thanks for your feedback. We are enjoying the process. I think we are going to do as a couple of you have suggested and try to find the most valuable coins first to deal with. I think it would be fun to take a handful to a coin show and shop them around. A new experience for us and would give us a taste of our kids great grandpa's passion for coins. Would also appreciate recommendations of someone to appraise, if anyone here can refer. We are in Central PA. As far as putting the entire collection away for our grandchildren, it just isn't physically feasible. We went through the "Directory" (as my husbands grandfather called his binders of cataloged info) and it looks to be 16,000+ coins. Too much and too heavy to haul around (IMO) and of course the consideration of safely storing it. We are definitely going to keep a smallish collection for both kids. Also going to have a ring made for my daughter out of a small gold coin and cuff links for my son
Cool stuff. 16,000 coins is a huge pile. I have just over 100 and it’s a handful. Central PA is on the opposite side of the country from me. Sorry.
Anyone???
Maybe start a new thread titled “Looking for an honest dealer in Central PA”. That will surely get some attention.
As Roger mentioned earlier, seek out a local coin club. Often you will find members who will help you. Start by contacting the club officers and attend a meeting or two. But be aware, there may be club members who may try and pressure you into a sale. Since you seem to be having fun with this ... enjoy the journey and don't rush.
When asking for appraisals, be sure you get the kind of appraisal you want. The two most common values are what someone will pay and what it would cost to replace the coins. Also, if you take somebody's time and energy, anticipate you will incur a cost. Be sure to ask about fees up front. Time is money and altruism is a rare trait in the numismatic marketplace.
You may be surprised how quickly an experienced collector or dealer can evaluate 16,000 coins ... it all depends on what is in the collection and the level of detail. For example, a bag of wheat cents is 5000 coins and likely someone would pay around $75-$100 for the lot. But to catalog and each coin would take hours and cost more than the coins are worth.
Good luck and have fun! And ... don't clean the coins!
See http://www.doubledimes.com for a free online reference for US twenty-cent pieces
Pm me I am in central NJ and if you are close enough I might be able to help you out on weekends
Frank D
908-938-5000
What county in PA? Im in northeast PA, would be happy to help you.