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newbie - i inherited a crap load of coins.. help?
kylek
Posts: 27
Hey guys i'm familiar with the sports cards collecting so i'm not a total moron. My grandma passed away so i finally got the coins from my grandfather's death 3 years ago. There's a safe packed with 100ish morgan dollars and every other type of coin like probably 200 different half dollars and god i don't know what these things all are but there's a lot of em.
My grandpa seems to have been big with the mini coins and proof sets. There's a hardwood frame type deal with every pres and first lady mini coin in silver. There's enough silver (.999 troy something) to build a solid silver car here.
I don't think i've struck it rich, but if you guys can lead to me a good coin price guide of sorts, or if there's anybody in the harrisburg/york area of PA with a coin shop that i can bring some of these in to that would be sweet.
I have to split the collection with my brother at some point. Not sure how that's going to work but we're close so it wont be a big issue. I'll take photos tomorrow and coax my buddy into getting them uploaded onto my server (my kodak took a $hit)
Thanks guys
oh - those rainbow finish looking coins, it seems you guys like those.. that's not an imperfection? first time i saw some coins that were all rainbowy i thought something was wrong with them?
My grandpa seems to have been big with the mini coins and proof sets. There's a hardwood frame type deal with every pres and first lady mini coin in silver. There's enough silver (.999 troy something) to build a solid silver car here.
I don't think i've struck it rich, but if you guys can lead to me a good coin price guide of sorts, or if there's anybody in the harrisburg/york area of PA with a coin shop that i can bring some of these in to that would be sweet.
I have to split the collection with my brother at some point. Not sure how that's going to work but we're close so it wont be a big issue. I'll take photos tomorrow and coax my buddy into getting them uploaded onto my server (my kodak took a $hit)
Thanks guys
oh - those rainbow finish looking coins, it seems you guys like those.. that's not an imperfection? first time i saw some coins that were all rainbowy i thought something was wrong with them?
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Kyle
P.S. Welcome aboard!
Best thing to do is to take it to at least 3 different dealers, preferably in different cities. Get 3 offers on the collection, go home and think about it. Feel free to post images here and share the purchase offers just to make sure everything is fair.
Dennis
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i ran over to see if i could find the those greenbacks.. can't find them though.. there's a thing full of bills... any idea of value of some nice looking 1923 dollar bills or like the red print 5 dollar bills from 60-70's? there was a 20 from 1969 i think and a thing with like 20 different 2 dollar bills.. heh yeah i'll make lists and take pictures .. i tried finding dealers from the one grading site online and there was one listed about 2 miles from my house that as long as i've been alive has never been there..
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<< <i>oh - those rainbow finish looking coins, it seems you guys like those.. that's not an imperfection? first time i saw some coins that were all rainbowy i thought something was wrong with them? >>
It`s a yes and no answer. Still, don`t clean them as some toning ( tarnish as well. both mean the same thing but, in the coin world coin collecters perfer to use the term toning while tarnish is the perfered term for jewelery and silverware.) is considered very attractive and others ugly. It isn`t an easy task to explain the difference as different collecters perfer different patterns/colors etc.
Still, if you do sell, I can`t stress enough to wait to evaluate what have and understand what you got. Getting a " Redbook " may be of some help too. It`s a general purpose price guide with good facts. You can pick up a copy at a coin store or major bookstore for about $15. The 2005 Redbook should be out around summer time if you want to wait.
Really makes me feel like collecting again. Think i might go through a shoebox of my sports cards before bed
I live in Gettysburg.I'd be glad to help in any way I can.I'd come over and bring all my books.Just let me know. Don't under any circumstances go to cronan's.
Registry 1909-1958 Proof Lincolns
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.
<< <i>Hey guys i'm familiar with the sports cards collecting so i'm not a total moron. >>
Uhh...
No.
I won't go there.
Seriously, though- welcome.
<< <i> There's a hardwood frame type deal with every pres and first lady mini coin in silver. >>
These would be medals, not coins. They must be legal tender, government issue to be true "coins". Of course, silver's silver.
Pick up a copy of the Red Book for lots of useful information and retail prices, and if you can, get a copy of the Blue Book, too, to get some idea of the wholesale value (i.e., what a dealer would pay for them). This'll give you a better idea of the true value.
A site dedicated to the sale of rare and high MS grade Morgan and Peace Silver Dollars. All coins are graded by ICG, PCGS, NGC, or Anacs, and are priced well below PCGS values.
I hate it when you see my post before I can edit the spelling.
Always looking for nice type coins
my local dealer
Welcome aboard.
Merz, i appreciate the offer. I'm gunna goto the bookstore here between classes and get the red book. I have finals until wednesday of next week. If there's a time next week where I can come down to your place, drop me an email kyle@pennstatejeeps.org. I see you've been on this forum a couple years so im sure you're good with these things. I need to keep looking for dealers in our area, thanks for the heads up on cronan's. Since my grandma's passing away, I'm living right off route 30 at the mount zion exit (close to the galleria mall), so it wont be a long drive either way.
ok, so sports cards are probably the big joke here on the coin forum.. understandable.. i quit that at about the age of 11 There's a decent amount of coin collecting in the family, my brother has some in a small wooden box. I'm not sure why I didn't get into it, i guess because i played sports and all. Let me get some pics up tomorrow.
what a pathetic rainy day..
We only tease the card collectors a little bit.
There is even a card forum here you might enjoy.
Good luck and have fun with your collections, that's the important thing in any hobby.
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at a time on a soft surface-do not handle them improperly. Get some cheap cotton gloves and itemixe everything. #3) The very last people you want to sell these coins to are coin shop owners-they buy at Blue Book or Greysheet then turn around and sell them at Red Book, Trends, or whatever they damn well please. The game goes like this...
You walk into a shop and immediately the dealer will size you up. Most will offer you as little as possible in order to realize maximum profit. THAT'S THE GAME. Yes, there are a lot of unethical, unscrupulous dealer out ther just waiting to take advantage of a newbie.
#4) As an earlier member said...under NO circumstances are you to clean or rub on the coin in any way.. If you do you greatly diminish the net value of any coin. Just because it may look unsightly to you does not mean that some of these coins could be uncirculated. There are a lot of good people here who would be glad to share their knowledge with you. When you alter a coins surface not only do you damage it by rubbing on it but you also remove the coin's history.
Take your time-get some referecnce books and set yourself up in a nice place in which to work. DO NOT grab the coins on the obverses and reverses but rather by the rims. You could very well have some real nice coins but if you clean them, rub tarnish off, or mishandle them you have committed the mortal sins of collecting!
I hope this helps....any questions just PM me and I'll walk you through everything. I also suggest picking up a copy of Photograde(grading made easy). Remember-dealers will pay as little as possible-stay away from them or you will regret it!
Whatever you do DON'T CLEAN THEM!!!!!!!!!!!!!!!!!!!
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Frank
I had a non-collecting buddy who had a bag full of circulated silver dollars. I offered to take a look. Instead he decided to just go to a local dealer and get a bid. The dealer offer him junk silver for them. Something like $8 per coin which was at the time market. He almost sold them, but at the last second pulled them off the counter, and asked me to take a look later. Sure enough, there was a very valuable 1889-CC in XF to AU condition in what was otherwise a collection of real junk. He did say that the dealer checked each date and said they were all common. Boy that dealer must have been salavating.
PS - Don`t worry about the baseball cards as I was collecting them for a short while when I was a kid. Most are gone know but, still have about 2 or 3 shoeboxes full of them. Also I intend to keep them for sentimental reasons.
Fortunately as a kid I also collected baseball and football cards from my local neighborhood hangout store, where I purchased packs of 5 cards for a nickel. Even more fortunately, I still have all of those 1967-69 baseball & football cards, including 2 Mickey Mantle's (one's the 1962 Triple Crown Card), Willie Mays, Hank Aaron, a Gale Sayers Rookie Card, and many other Baseball & Football Hall of Famers
I've got nearly a full set of 1967 Topps Baseball Cards including the key Mickey Mantle Card
I am very pleased to have held onto many wonderful memories of my youth in this collection, and am also pleased with its increase in value
Stuart
Collect 18th & 19th Century US Type Coins, Silver Dollars, $20 Gold Double Eagles and World Crowns & Talers with High Eye Appeal
"Luck is what happens when Preparation meets Opportunity"
<< <i>It's greedy dealers like this guy that totally light my butt on fire! That's stealing >>
No it's not, the seller needs to know what they are selling. If they sell for too little its too bad but thats the way the coin business works.
Collectors and people in coins for profit are two different things.
Next best thing, assuming you don't want to educate yourself (and, caveat emptor, if you don't) is to find a couple of dealers you feel you can trust and have them look at some things and get comparative prices -- see if they will handle some of your coins on consignment.
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Registry 1909-1958 Proof Lincolns
Welcome to the boards! The Redbook will give you an idea of what is common in a particular grade, and what is not. Re common silver coins, pre 1964 dimes, quarters & halves - dealers who buy a lot of bullion coins (which is what these are) will roughly take the spot price of a troy ounce of silver, multiply it by just under 60%, take this product & multiply it times the face value of these coins. Ie., if you bring in $10 face of silver quarters & the spot price of silver is $6 per troy ounce, you'll get offered rougly 3.6 * the $10 face amount of the coins, or $36.
It's a little more for silver $s, I'm guessing in the $7 or $8 range, with the spot price of silver @ $6.
Each dated proof set is different, and two proof sets of the same date can have different values, depending on the condition of the coins (some are struck better, some have attractive toning, some are hazy, etc). Older coins (ie., pre 1932 quarters, pre 1916 quarters, dimes and halves), even if old and ugly, are worth a premium. So are pre 1913 nickels and Indian Head Cents.
Don is a good guy & will point you in the right direction.
Jeff
"Seu cabra da peste,
"Sou Mangueira......."
Then, you have to ask yourself what you want to do with your coins. If you just want to sell them and maximize the profit, you may want to look to have some of your coins graded by a grading service. That will give you more leverage when you go to sell (give you more E-Bay bidders, factor out grading disputes with dealers), and hopefully maximize profits. Again, exactly which coins you have will determine the way to go here. No need to spend $10+ having a coin graded that's only worth $15 or $20...
I went to the bookstore today and bought the red book and a magazine with prices in it. I used the magazine to price stuff. I'm not gunna say too much till i get the pictures on here tomorrow. There's a lot of coins 100 or so morgans and 50 or so peace dollars and all that jazz. Just so much stuff, i never realized the value of these things. Even the proof sets my grandparents send me every year, i never thought they'd be worth that much.
Im not gunna go too much farther in depth but i guess i do have some money sittin here. I have been informed that i need to turn on my PMs so im about to do that. Pictures will be up tomorrow don't worry
=P nice cards man. I'm goin on 20 here so... my only childhood memories were of.. a couple years ago.. but i've got a lot of tony gwynn rookie's and jerry rice rookies and those guys in the 80's. I was big into emmitt smith and the cowboys.. just tons of random stuff nothing beat the feeling when grandma took me down to k-mart and bought me a box of cards. I hadn't even recalled those times until now. Thanks for the reminder -
I hate to be the bearer of bad tidings,but your links don't work. I was looking forward to the pics.
Registry 1909-1958 Proof Lincolns
Kyle, seeing where you live, did you by any chance graduate from Northeastern H. S.???....Ken
I couldn't get any good close up shots of hardly any coins. It's a friend's camera and i'm only used to my kodak which stopped working. I actually graduated from Red Land high school last year, but the kids in the back of my parent's development go to northeastern
Between the two of us,we should be able to help.Your picture taking abilities and knowledge and mine along with all my books,we'll straighten him out.
Kyle
After looking at only part of the pics,IMHO you do need help.I stand by my offer!!!!!!!
Registry 1909-1958 Proof Lincolns
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