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Newbie and have a ??

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miseryinwi View Drop Down
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    Posted: 27 Aug 2007 at 8:46am
I recently inherited a nice sized box of silver coins. They entail the Walking Liberty halves, mercury dimes, and a few more common Ben Franklin and Kennedy Halves, Silver Quarters and dimes, SB Anthony dollars, and a ton of the Sacagewea dollars.
 
Who would you suggest I contact to get a good price for these coins? Would you suggest I hang on to them? I dont really want to sell on ebay. How should I go about cataloging them or should I not bother?
 
Some are in really good condition, but for the most part the older ones look faded and have black in the grooves (need to be cleaned maybe).
 
Any help would be appreciated!
Melissa
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Starwarsfreak View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Starwarsfreak Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 9:02am
Buy yourself a Red Book. You can pick them up at any major book store. They give you a great estimate of the value of coins. Here is what it looks like with a little information about it:

http://coins.about.com/od/coinvalues/fr/redbook.htm

If you know any coin dealers in your area, bring your coins to him/her and he can help you get started on organizing your collection and keeping them in the condition they are in. There are many folders and books that are made to store your coins in them without them being damaged by coming in contact with other coins in your collection. DO NOT clean your coins. Even if they are dirty/faded looking, its still better than them being cleaned. The only time a coin should be cleaned/dipped is if it is corroding and rotting away the coin, and you should ask the coin dealer for further information about dipping coins. A shiny coin does not mean its a valuable coin! Some of the most valuable coins are not shiny at all!

If you have any more questions, feel free to ask!Big%20smile

-Rob


Edited by Starwarsfreak - 27 Aug 2007 at 9:03am
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paul1980 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote paul1980 Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 9:34am
Common dates aren't very likely to go up in value. If you want to sell them, go ahead and sell them. Keep in mind a coin dealer's markup will be higher than typical as he knows these coins are in low demand and therefore will sit around his store longer than something in demand. Before doing this, take a look at a price guide first to make sure you don't have any high-dollar coins. You don't want to buy a Redbook for this specifc purpose, but there are a couple of websites such as numismedia and the PCGS online price guide that will give you a rough idea as to what you have. Above all else, pay special attention to mint-marks. They can make the difference between a coin worth under $10 and a coin worth over a thousand.
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miseryinwi View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote miseryinwi Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 9:49am
thanks for the advice! I will check and see if I have any that may be desirable!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fitey8 Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 10:17am
If they are common date silver, it would be a good time to sell as silver prices are pretty high last time I checked.
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fitey8 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fitey8 Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 10:18am
Check out Kitco.com for up to date silver prices also.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Royalist0007 Quote  Post ReplyReply Direct Link To This Post Posted: 27 Aug 2007 at 10:18am
Melissa,you can put them up on www.coinbay.biz .You don't pay a listing fee,nor do you need a credit card to be registered.
 
Aidan.
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just carl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote just carl Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2007 at 1:46am
As already noted get a copy of The Red Book. It is available at most hobby stores, coin stores, coin shows but I've found the cheapest is Walmart Books web site. DO NOT take your coins to a dealer or coin store. That is sort of like taking your car to a used car lot. Coin shops are business to make a large profit on each sale basically. Therefore they would offer you the least amount and if they suspect you don't know anything, theywill usually point of all kinds of things wrong. Again, sort of like a used car lot. Get to know what you have. I noticed you were not in any hurry to sell them so I would suggest you get to know what you have, study them and perhaps continue the hobby someone started. Someone thought enough of you to leave something they thought was valuable and collectable so why not continue their ideas. Of course if you need the money, then to study what you have is even more important. DO NOT go wondering into a coin store with no knowledge of what you have.
just carl
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just carl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote just carl Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2007 at 1:52am
Oh I forgot. As to your question as to how to catalog what you have. That depends on a few things. If you know what the coins are is important so that Red Book would really help there. Also, you can go to  many, many web sites on coins and look up lots and lots of things. PCGS is loaded with imformation. If you use this web site and/or many others you will see many coins shown as an example so again, you could learn what you have. There is something called Excel and usually on everyones computer if using Microsoft Office. Great way to make lists of your coins.
If not, just start with denominatioins and types and write down per date. Mint marks will be apparent if you get that Red Book.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote just carl Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2007 at 1:55am
Read the post called I need your help
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Starwarsfreak Quote  Post ReplyReply Direct Link To This Post Posted: 28 Aug 2007 at 4:12am
Originally posted by just carl just carl wrote:

As already noted get a copy of The Red Book. It is available at most hobby stores, coin stores, coin shows but I've found the cheapest is Walmart Books web site. DO NOT take your coins to a dealer or coin store. That is sort of like taking your car to a used car lot. Coin shops are business to make a large profit on each sale basically. Therefore they would offer you the least amount and if they suspect you don't know anything, theywill usually point of all kinds of things wrong. Again, sort of like a used car lot. Get to know what you have. I noticed you were not in any hurry to sell them so I would suggest you get to know what you have, study them and perhaps continue the hobby someone started. Someone thought enough of you to leave something they thought was valuable and collectable so why not continue their ideas. Of course if you need the money, then to study what you have is even more important. DO NOT go wondering into a coin store with no knowledge of what you have.


Well, if you take it to an honest person, its different. There are lots of "sketchy" dealers, but there are also lots of honest people. If you go in not looking to sell, they might be willing to help you!

-Rob
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just carl View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote just carl Quote  Post ReplyReply Direct Link To This Post Posted: 29 Aug 2007 at 4:12am
Well, if you take it to an honest person, its different. There are lots of "sketchy" dealers, but there are also lots of honest people. If you go in not looking to sell, they might be willing to help you!

Exactly.
Glad you said MIGHT be willing to help. Unfortunately in well over 60 years of collecting, I've only met two SORT of honest coin shop people. One was about 50 years ago so I'm not sure. The other is sort of a friend that I've known for about 20 years but still not sure about him when it comes to business.
just carl
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