Help me to figure out values...

[pyledriver]

My grandfather collected coins-just what struck his fancy, not as a 'formal' hobby. I used to drag 'em out and look at them when I was a kid, and when he died, he willed them to me. These coins have been sitting now for 15 years or so in some sleeves that we bought.. There are lots of wheats and a few steel pennies, several Morgan's and other silver dollars, a ton of buffalo nickels, silver dimes, quarters, some coins from the 1800's as well. This is all by memory, I'd have to sit down and take a real inventory to be exact. Cruising this forum got me to thinking though! Once I do inventory all these coins, how do I figure out a 'real world' price on them, get them graded by an impartial expert-not somebody trying to make himself a good deal (been there, still mad about that)? I don't know that I'd want to get rid of any of these but am really curious.

 

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[jopher]

If youve got the time ....grade them yourself first. Go to a hobby store and pick up a current Red Book. At the intro to each coin section there are easy "rough grading" directions for that particular coin. You can then use the guide to give you an idea if each coin is "of value". Once youve narrowed it down to the coins that have substantial value, go to Ebay and see what people are actually paying for coins of same grade....slabbed and unslabbed. Proffesional grading/slabbing will increase the price (closer to Red Book pricing) someone is willing to pay for a coin, however it is not a cheap service...you can check grading prices on line to see if it is actually worth the investment.

 

[Mackaydon]

Pyledriver:
If I had your collection, I'd (1) start by listing all the coins by denomination, date,mint mark and condition based on the ANA Grading System found in Yeoman's Red Book; (2) get a 2009 copy of the 'Guide Book of United States Coins' (Yeoman's Red Book) and look up the retail value of each coin based on the condition of your coins.
Contract expert graders are rather expensive; many of your coin values may not cover the cost of the appraisal. You may wish to submit only your most valuable coins to the grader.
Another suggestion is to post a couple of your coins at a time on TNet and request an opinion of grade and value. And I'd also frequently check eBay for the sale of coins similar to yours--to get an idea of 'real world' values.
Don...

 

[hyperion]

You may want to check your local area for coin clubs and bring a few of the coins in for their opinions. This way you can possibly find an expert without a conflict of interest willing to help you through this. Of course you should offer some sort of compensation for their work.

If you take them to a coin shop, they are in business to make a profit and must pay for all the overhead too. You will not make as much by selling at a coin shop, but it may be worth it to avoid doing all the work yourself.

Or you could list them on EBay and do what most EBay sellers are doing these days ... over-hyping an over-graded common coin to the uninformed masses. Sorry, just had to throw that one in there. If you were anywhere near St Louis, I would be glad to provide assistance.

 

[pyledriver]

Thanks everybody! I knew there had to be a resource I could get my hands on but I just decided to do this and wasn't exactly sure where to start.. A redbook it is!! I'll post some pics of the better ones just for everybody's enjoyment at least! Now should any of these coins be cleaned if they have a bit of tarnish on them? Last thing I want to do is ruin something just because it wasn't pretty..LOL!

 

[Mackaydon]

Don't clean them; at least not yet, and maybe never

 

[HolyDiver]

Pictures would be awesome.

 

[STH69]

my mother in law deals in old coins and uses the most up to date books, almost like beckets?

 

[Roadquest]

Don't clean them; at least not yet, and maybe never

I agree, do NOT clean them.

 

[silvercop]

the only cleaning i do is a warm water wash. no soap, chemicals, or abrasive scrubbing

 

[Roadquest]

My grandfather collected coins-just what struck his fancy, not as a 'formal' hobby. I used to drag 'em out and look at them when I was a kid, and when he died, he willed them to me. These coins have been sitting now for 15 years or so in some sleeves that we bought.. There are lots of wheats and a few steel pennies, several Morgan's and other silver dollars, a ton of buffalo nickels, silver dimes, quarters, some coins from the 1800's as well. This is all by memory, I'd have to sit down and take a real inventory to be exact. Cruising this forum got me to thinking though! Once I do inventory all these coins, how do I figure out a 'real world' price on them, get them graded by an impartial expert-not somebody trying to make himself a good deal (been there, still mad about that)? I don't know that I'd want to get rid of any of these but am really curious.

When you have your list. Post the coins you have With pics. You can snap a group of them together. We can them give you an idea of the value of your coins. One of my most liked grading books in 'The Official American Numismatic Association Grading Standards for American Coins'

Clayton