Coin Questions

Stand Watie

Jr. Member
Mar 24, 2012
99
34
Greenwood SC
Primary Interest:
Metal Detecting
I have some questions about coins and their value. I figured this would be as good as any other place on Treasure Net to ask them.

I'm real new to all of this but I can tell by reading here that some of you folks or pretty sharp on coins. I have some older coins. Boy do I have some coins.

I'm asking these questions for several reasons. One reason, is that I'm in the process of researching and purchasing my first metal detector. So I hope to be finding coins too.

The other reason, the main reason right now, is that my grandmother saved up coins over the years. She wasn't a collector and she didn't know anything about coin values, etc. She just started saving up random coins years and years ago. She's been deceased for a long time, but my mom said that grandma told her she started saving a few coins here and there when she was in her teens.

I have:
• Baby food jar not quite ½ full of half-dimes
• Coffee tin ½ full of silver half-dollars, plus a handful of Kennedy half-dollars
• 19 silver dollars
• A couple of medium sized (jelly) jars of Buffalo Nickels
• I also have an old decorative tin with almost 7 pounds of all Wheat pennies
• Some assorted other odd coins, half-cent coins, 3¢ coins, etc

My grandmother gave all of the coins she had, along with some 2-dollar bills, to my mom a year or so before she died. There was a 20 dollar gold piece but mom sold that in the early 1990s. Now that she's in her 80s she has given them to me. She recently told me to sell them if I wanted. I thought it would be nice to sell the valuable ones (if I have any) and either take mom on a nice trip while she is still able to get around fairly good. Or just sell all of them that I can sell and give the money to mom.

I'll keep a few of the really old or odd ones out of respect for my grandmother to hand down to my children and grandchildren. But the rest aren't doing any good just sitting in cans and jars. The money could be used by my mom for things she wants or needs.

But I don't want to get cheated by a pawn shop or some crooked coin dealer. So what is the best way to find out what they are worth? And what would be the best (and fastest) way to sale them?
 

Last edited:

l.cutler

Silver Member
Dec 2, 2006
2,664
2,004
NEPA
Detector(s) used
Tejon, Cibola, T2
Primary Interest:
All Treasure Hunting
Simple, research. Learn about the coins, mintage, key dates, errors, learn how to grade. Buy some coin books, research online. Your best defense against getting ripped off is knowledge, if you know what you have, you won't get cheated. One thing, do not clean any of the coins!
 

ppratt

Sr. Member
Jun 19, 2003
352
83
South western PA
Detector(s) used
Spectrum XLT
Other than the 1/2 dimes, half cents, and 3 cents, you have to go with spot prices. All Silver is about 18 X face value I havent checked spot for a while but I think thats a fair price (correct me if I'm wrong). If you coins are Barber 1916 and back they maybe better than spot, and that goes with your dollars also.Your buffs I would say about .50 each and your wheats .03 - .05 each. The other coins pickup a red book and get educated, but dont go by those prices. Watch Ebay those are real live prices. Some say look at gray sheets, but I like ebay. You have people there paying crazy money for stuff not worth crazy money.
 

Mackaydon

Gold Member
Oct 26, 2004
24,095
22,873
N. San Diego Pic of my 2 best 'finds'; son & g/son
🏆 Honorable Mentions:
2
Detector(s) used
Minelab Explorer
Primary Interest:
Shipwrecks
I suggest you buy the 2012 edition (or the 2013 edition if it's out) of the Official Red Book-a Guide Book of United States Coins--all coin stores and book shops should have it. This will give you a good initial introduction to coin histories, their varieties and their values. Note, however, the 'valules' stated are theoretical RETAIL value at the time of printing. A more accurate reading of actual sales prices can be found on Ebay (as ppratt suggested above) in the Completed Listings areas (left margin list). You'll also get free advice here if you post detailed pics of your coins--obverse and reverse (say--up to three at a time with each posting).
Don.....
 

kayden

Bronze Member
Apr 24, 2011
1,331
229
Pennsylvania
Detector(s) used
Ace250,AT Pro & Garrett Propointer!
Primary Interest:
All Treasure Hunting
Before you sell get several quotes from several Dealers ...Remember they are trying to make a profit so your offer from them is gonna be below what they are worth....Or you can open up an E-bay account after you get your dealer offers & see what you can get there ...Im telling yah this beware ...everybody is trying to make a profit now days! hope this helps GL sir!
 

OP
OP
S

Stand Watie

Jr. Member
Mar 24, 2012
99
34
Greenwood SC
Primary Interest:
Metal Detecting
Thanks for all the good info folks. I really do appreciate it because I had no idea where to even start with these coins. I'll try to pick up the latest Red Book this weekend. We have a little coin/jewelry shop in town that should carry it in stock. If not I'll order it from Amazon or somewhere online.

Savant365,
I have bookmarked the site you posted also.

ppratt,
From reading about some of the Wheaties in the Today's Find forum where members talk about finding a valuable Wheatie I figured I was going to have to go through the whole 7 pounds and check each penny individually to see if it was of any value. Are you saying that would be a waste of time and energy and that I should just sell the whole lot for what you posted, 3¢ - 5¢ apiece? I'm not real clear if that's what you mean or not.

Again, thank you all for your help. It is very much appreciated.
 

sciflyer25

Full Member
Nov 22, 2011
221
110
Montco, PA
Detector(s) used
Silver Umax
Primary Interest:
All Treasure Hunting
Personally, I would make a list of the rare/expensive wheaties. Then go through every one of them. Also, keep an eye out for die errors.
Just my "two cents".
Jim
 

ppratt

Sr. Member
Jun 19, 2003
352
83
South western PA
Detector(s) used
Spectrum XLT
7 Lbs of wheats is not alot of coins. However I had to take the dealer side of things and give you prices unseen. No dealer will look through that many pennies. He/she will just give you a flat rate. Also this coins came from a collector, so most likely they have been looked through. Keep them for a rainy day. Look it the books, check out the dates that bring cash, and write them down. If you want to sell them I wouldn't go to any dealer or ebay. You may get more on ebay but by the time they take there cut and paypal get theres your going to get close to dealer prices anyway. From what you say you have coins that sell quickly you might want to look at flea markets. A couple times a year there a a few large ones in my area. Save them get educated and sell them there. You will only have to pay a little for your table at the market and it's all profit.
 

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