Coin Dealer Basically Calls my Coin Collection Junk

[Hogtown Hunter]

Took my dad's coins up to a well respected coin and high end jewelry dealer that's been in business for decades to see if any of them had any value. After taking a look at the older coins he said that's not the type of coins a collector looks for. And that they look like they came out of the ground. He was not interested in any of them. I wasn't interested in selling the old ones anyway. But I have dozens of 1800s and early 1900s Canadian and Australian coins and tokens in good shape. He said he would pay about $3 a piece. Told him no thanks.
I'm thinking about getting a coin display case that hangs on a wall and putting the old ones in it. At least when we have company over they will get to see them and enjoy the historical value.

 

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[RobNC]

What a snobbish person! Not all of us live in a bubble and it sounds like the place you went to expected rainbows and pots of gold. What a loser!
I wish you the best, and do not pay attention to people like that.
Bottom Line- He was looking to rob you of the coins by talking trash. Glad you walked away.

 

[smokeythecat]

Well, I like them. Best place to sell dug coins is on Ebay. Yes, they charge a commission. Dug coins unless a rare silver, don't ratain much value unless its a key date like an 1877 Indian cent. Even those bring decent money there. People will buy early American and colonial coppers that are dug on Ebay. Look at a coin like you have and look to see how much sold ones have gone for. It will be more than $3. I have seen dug Virginia halfpennies go for over $100 each. I have sent a few better dug ones in for grading and the grading company sent them back untouched (they kept the money), and pretty much laughed at me. I ran into the same problems with stamps 40 years ago when anyone collected stamps. The dealer bought them but they were so picky and nerdy that is was horrible.

I just looked there and 1796 large cents that look far worse than yours, well, the asking prices are over $100 each.

 

[Hogtown Hunter]

Yeah. I've compared prices on ebay and get an average price. Most do run in $20-$50 range. Thought that's what he'd say. He also said the coins he deals with are at least in VG condition. I've been introduced to a collector who's been collecting coins for 50 years. Going to get a collectors point of veiw. I really don't care to keep all the Canadian and Australian coins but if they're not worth all that much I'll just keep them.

 

[Jason in Enid]

Old doesnt equal value. the market is filled with old, corroded and heavily worn coins. Collectors dont want those unless its a TRUE rarity, and even then you arent going to get a premium if the condition is bad. Dont get offended because your family treasure isnt what you hoped.

 

[Professor of Engineering]

That cap liberty is beautiful! That is my favorite type of old copper, she is just beautiful!

 

[FloodcityTom]

Coins are sold by grade and the dealer may only deal in coins graded at "fine" or better. My guess would be that in offering you a low ball of $3 a piece the dealer might resort to ebay to sell them for a much higher price. I've seen coins like that 1805 & 1796 cent go upwards of $100 in less good shape. You could put them on Ebay as others here have suggested if you really want to sell them or you could make a nice display, something to pass onto your grandkids. If you do go to Ebay, start out rediculously low like 1.99 (you can put a minimum reserve) and watch them bid it waaaayyy up. I sometimes sell my dug coin finds on ebay and the low grade tore up ones sell ok.

Don't be too harsh on the dealer, remember he has to make a living at this and he has all the insurance, business license, rents etc etc to pay for to stay in business.

 

[Hogtown Hunter]

I might not should have posted title that way. I've been going to this business for about 8 years and have purchased silver coins, jewelry and their son fixes and designs jewelry. Good people. I was more embarrassed than offended.

 

[Hogtown Hunter]

That cap liberty is beautiful! That is my favorite type of old copper, she is just beautiful!

That one is the gem. I'm keeping it. Beautiful coin.
Wish there would have been more of them in the bag.

 

[Xraywolf]

You were really expecting a "well respected coin and high end jewelry dealer" to get excited over ground dug coins ?
I think you went in with expectations too high.

 

[Charlie P. (NY)]

Dug coins are a hard sell. A local dealer I used to do business with got "airs" after I showed him a Barber Quarter I had found (was not even trying to sell it). I guess he considered metal detectorists somewhere between father rapers and mother stabbers. I stopped going there.

 

[Jason in Enid]

...... I guess he considered metal detectorists somewhere between father rapers and mother stabbers. ......

"kid, I want you to go over and sit down on that bench that says 'Group W'"

 

[Hogtown Hunter]

You were really expecting a "well respected coin and high end jewelry dealer" to get excited over ground dug coins ?
I think you went in with expectations too high.

These coins were given to my dad in the 50 's. Dont think they were found metal detecting. Though someone may have found them in the ground?

 

[Back-of-the-boat]

Most coin dealers will low ball you it is how they make money,I would just do a display with them.

 

[Trezurehunter]

Since they were from your dad, I would just display them as you mentioned. You will get more enjoyment out of them that way, than you will the money the coins would bring, that you would probably spend inside of a few days.

 

[mick56]

Foreign coins are sold by the pound on ebay. Most foreign coins are not sought after here in the US.

 

[Diggitdaddy]

I had a similar experience with our local coin dealer. Took a 1914 D that I dug out of an old school yard. He looked at it for 5 seconds, saw it a bit green and called it a fake. Its as real as we are. Was astonished at how I have to believe all the coins he has are authentic and mine which are found metal detecting are junk. You are not alone. We are better off keeping them for us and our kin. Build a nice display case and show em off. The 1796 cent is really nice btw... Great finds !

 

[smokeythecat]

Dealers are out to make money, that's the best of them. The rest are out to take advantage of others.

 

[Icewing]

Now you know why your dad never sold his finds, and why most of us never sell ours either. They take way too much time and effort to find and therefore hold more value to us than any collectors, with the exception of a few extremely rare finds that maybe help pay for our gear.

You are doing the right thing by keeping them to display.

 

[A2coins]

Yep coin dealers dont make alot of money unless they buy at a fraction of the value. Though most dug coins are considered enviornmentally damaged. Even un dug coins collectors want it pristine Ebay is your best bet.like ca baseball card just a bent corner will ruin alot of the value.just how collectors and dealers are. look at pawn stars that tells all you need to know