Inherited Coin Collection and Need Some Advice

Generalisimo · March 25, 2012 7:04AM

I inherited my Grandmothers coin collection. She worked retail from the 1920s to the 1950s and kept anything that had low mintage or was silver. Almost everything she pulled from circulation. Fairly extensive collection (4000 cents, 200 nickels, 1000 dimes, 300 quarters, 250 halfs, and 170 dollars). I've cataloged most of the collection and it looks like most of it is worth more in silver than nuministic value but I'll have some fun going through it all. Many of the coins were taped into albums and I remember helping "clean them up" when I was about ten (the 1960s). Instead of using acetone to get the glue off we used a copper cleaner that a local dealer gave us. Even after 40 years, the coins did not re-tone to look natural. Unfortunately, this was done on some of the best coins. I have two 1909 S VDB, a 1914 D, and 16 1931 S VF or better (some cleaned - some not). I have attached pictures of the 1909 S VDB's to see if people think I should bother getting them certified. Almost none of the coins have toned. I have one 1936 commenerative half that has toned. Let me know if you like the toning and think I should get it certified. Thanks.

cladking · March 25, 2012 7:07AM

Welcome aboard.

Don't clean anything.

lasvegasteddy · March 25, 2012 7:11AM

welcome to the forums
put the cleaner away..."NOW"
the commens look nice all crusty like that....no real need to certify these
the 09-s vdb
even though polished...get these in genuine holders to verify they're real...you'll reap better proceeds upon sale
leave them as is if not for resale...now or in future...

KISHU1 · March 25, 2012 8:42AM

Agreed Don't touch any cleaners! Also post what you have for sale here

Frank.

AMRC · March 25, 2012 8:53AM

Depends on a few things. Do you want to collect or do you want to sell? If you want to collect put it all away and go read a few books first, hand around here, track some things on eBay and get familiar with pricing guides and grading practices. Then decide what you want to collect and use the rest of the hoard (as that is what it is at this point) to create a collection. Find a mentor as soon as you can. If it is another collector, reward him/her for their help or if it is a dealer let him make some money.

If you want to sell: Figure out what makes sense to grade and what does not (see mentor comment above). Get it graded. If you have the time and the patience post it out on the these boards and on eBay. If you prefer a more timely liquidation find a dealer you are comfortable with and take the check. ALWAYS keep in mind that selling the coins is real work, and for that work people (either yourself through higher realized prices or the dealer) must get paid.

Generalisimo · March 25, 2012 9:33AM

Thanks for the help. I have enjoyed going through the "hoard" and I would like to convert it into more of a collection. I live in San Jose CA. I turned on my PM. If anyone from the board is in my area and is interested in talking coins or giving advice, let me know.

MsMorrisine · March 25, 2012 9:40AM

The question on that Bay Bridge is "how will the market view the toning"

there are a few different tastes for coloring on here, some prefer only white silver for example.

My guess is that the toning appears dark and blotchy enough, at least on the bear side, that the color will hold it back instead of helping it sell.

magikbilly · March 25, 2012 9:48AM

The good advice is given already, up there :-)

Don't clean anything at all.
Hold by edges only.
Don't sell anything to anyone appraising.
Don't sell until you have a some idea of value (or as close as you are going to get).
Show your stuff here and get many opinions before acting.
Enjoy! Start collecting!! - you have a nice start!

Best,
Eric

Swampboy · March 25, 2012 9:54AM

Nice intro.
Have fun and

Coinlearner · March 25, 2012 10:08AM

Ebay ending prices research should help on value. As said. The 09S VDB's going for 600+ in PCGS-Good so even if damaged/cleaned it would be worth getting the rare ones in plastic. Take it slow,do the research and post/ask questions here.

braddick · March 25, 2012 10:45AM

<< Ebay ending prices research should help on value. As said. The 09S VDB's going for 600+ in PCGS-Good so even if damaged/cleaned it would be worth getting the rare ones in plastic. Take it slow,do the research and post/ask questions here. >>

I'd love to purchase a PCGS 1909-S VDB in GD4 and would pay a lot more than $600. for it. (Even more than 1K.) Do you know where I may locate one?

Generalisimo · March 25, 2012 10:51AM

Any opinions on grade and value of the 1909 S VDBs assuming that they were cleaned 40 years ago and the color is still a bit off.

Coinlearner · March 25, 2012 11:26AM

<< 

<< Ebay ending prices research should help on value. As said. The 09S VDB's going for 600+ in PCGS-Good so even if damaged/cleaned it would be worth getting the rare ones in plastic. Take it slow,do the research and post/ask questions here. >>

I'd love to purchase a PCGS 1909-S VDB in GD4 and would pay a lot more than $600. for it. (Even more than 1K.) Do you know where I may locate one? >>

EBAY is where. Check the ending prices.. G-6-7 --Fine 800--VF 900..... See a genuine(problem coin) 685 They are around

coindeuce · March 25, 2012 12:42PM

I believe that Braddick is looking to find the least grade certified of the '09-S VDB available for the sake of a lowball collection. Sometimes ya just gotta read between the lines.

sawyerjosh · March 25, 2012 12:46PM

Nice collection! It's hard to tell from the pics if the Lincoln is cleaned. I'd suggest ICG if you want to save yourself some money and it it is cleaned they will still give a details grade. They grade key dates, like the 09's VDB for FREE! I'm sure you have to pay they shipping a such. They also have a good ecoonoy service if you feel like submitting any of the dollars. Anything that you think is a key date you would do well to have graded. ICG Key Date Free Grading (this article is older--ICG does now grade problem coins)

barrytrot · March 25, 2012 12:49PM

<< Nice collection! It's hard to tell from the pics if the Lincoln is cleaned. I'd suggest ICG if you want to save yourself some money and it it is cleaned they will still give a details grade. They grade key dates, like the 09's VDB for FREE! I'm sure you have to pay they shipping a such. They also have a good ecoonoy service if you feel like submitting any of the dollars. Anything that you think is a key date you would do well to have graded. ICG Key Date Free Grading >>

Wow I didn't think I'd ever live long enough to see ICG get a recommendation. Now I can die

Paying grading fees for PCGS will be paid back. And PCGS does "details grading" now also.

Coins in ICG holders are still far more suspect than a corresponding PCGS coin.

Go PCGS - most respected and best chance of getting your best price, and they detail grade now if it is cleaned.

BaseballAbs · March 25, 2012 1:00PM

BaseballAbs · March 25, 2012 1:05PM

I agree with barrytrot that is and don't send it to someone other than PCGS . Or some poor sucker like me is going to have to crack it out and send it to PCGS down the road. It just a waste and you will most likely have an easier time selling them. Stick them on the Buy Sell trade then after that Ebay. Anything that is just worth silver prices sell it to your local coin dealer. Nobody will pay you more then your dealer. Also you will have shipping fee's and all the other headaches that can show up not selling it local.

BaseballAbs · March 25, 2012 1:15PM

Sorry for the triple post, I'm sure it's bad forum, but...

Ebay is a good indicator of what the market is willing to pay for a certain coin. Provide you put it on bid at the proper time and day for best results. You need really nice images for getting the best price on your coin and to eliminate possible problems with the buyer. The BST is the best place to sell to save yourself Ebay fees, but you might get stronger money and more exposure elsewhere.

Seth

magikbilly · March 25, 2012 1:16PM

"It's hard to tell from the pics if the Lincoln is cleaned."

"If"? They just said twice they cleaned most of the coins themselves 40 years ago with a copper cleaner.

Eric

Edited to add: They also look cleaned.

braddick · March 25, 2012 2:39PM

<< I believe that Braddick is looking to find the least grade certified of the '09-S VDB available for the sake of a lowball collection. Sometimes ya just gotta read between the lines.

>>

Yes.
Even 'back in the day' the 1909-S VDB was collected and saved to a certain extent. Finding a problem free coin in GD04 or lower would be worth AU50 or MS money to me.
(Alas, the search continues. . .)

coinman23885 · March 25, 2012 2:46PM

<< Nice collection! It's hard to tell from the pics if the Lincoln is cleaned. I'd suggest ICG if you want to save yourself some money and it it is cleaned they will still give a details grade. They grade key dates, like the 09's VDB for FREE! I'm sure you have to pay they shipping a such. They also have a good ecoonoy service if you feel like submitting any of the dollars. Anything that you think is a key date you would do well to have graded. ICG Key Date Free Grading (this article is older--ICG does now grade problem coins) >>

I think an ICG holder will actually harm the coin's liquidity. I would get it in a PCGS genuine or NGC details holder.

CarlWohlforth · March 25, 2012 2:51PM

Welcome!

I'm from San Jose too. Any others? Maybe we can have a meet and greet, you know, a show and tell, somewhere in San Jose. There are Starbucks everywhere....

TwoSides2aCoin · March 25, 2012 3:05PM

Enjoy !

Best advice I can give.

nwcoast · March 25, 2012 3:17PM

Welcome!!
Some great advice given here already. Just thought I'd chime in to offer you another welcome.
I too inherited a collection a few years ago. Though I had collected coins as a kid, I had lost interest for many years. Inheriting the collection and the process of learning about it have renewed my interests and I've been having a blast ever since!
I hope this too will be the start of a fun filled journey for you! You've come to the right place here. There's an amazing and vast assortment of knowledge and a blunt honesty that make this forum unique and enormously valuable. I wish I had stumbled into this years earlier before I started selling off some of the materials. You and I can both be thankful that we came into the advice against 'cleaning' early in our journeys.
In any case....

Inherited Coin Collection and Need Some Advice

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