Any coin collectors here? - Tilted Forum Project Discussion Community

BulletCatcher · 03-07-2008, 07:29 AM

I have recently come into possession of a small coin collection and am curious to see if it’s worth anything. I know next to nothing about coin collecting and my attempts to research the subject online has left me more confused than when I started. I understand that the condition (grade) of the coin is important in determining it’s overall worth but as near as I can tell there are several different grading standards with very subtle differences between each grade. Then there’s whether the strike is full and what kind of strike was used to make the coin, where it was made, etc…

Basically I have no idea whether what I have is worth anything or not. After looking over several price guides online and guessing at the grade of the coin using the 1-70 grading scale I estimate the total collection is worth about $2000 to $2500 but with so many different factors for all I know it could be worth $10 or $10000.

What would be the best way to go about getting the collection properly appraised? There are several ‘professional’ grading companies that I could send it to but they charge anywhere from $5 to $200 per coin depending on their estimated value which has to be paid up front so if I estimate a coin is worth more than it actually is I could actually lose money having it appraised. I suppose I could bring them to a local coin shop but I haven’t been able to find an ‘authorized’ coin appraiser anywhere nearby. The closest one is 4 hours away.

Next question would be, once I know the value, what would be the best way to sell them? To a dealer? Online? Consignment? They all seem to have their own pros and cons.

From what I can tell, the highlights of the collection are….
1861 Libertyhead $2.50 gold piece (don’t know if it’s an old or new reverse)
1881 Libertyhead $5.00 gold piece
1909 Indianhead $2.50 gold piece
1914 Indianhead $2.50 gold piece
1984 Canadian gold Maple Leaf 1/4oz
2 1863 silver eagle pennies
15 Libertyhead (Morgan) silver dollars from between 1881 to 1922
About 100 various pre 1964(silver) nickels, dimes and quarters

The rest of the collection consists of various foreign coins, 20 Commemrative Silver coins and other US coins that don’t appear to be worth much more than face value.

Any advice on how to get fair value for this collection would be greatly appreciated.

yellowmac · 03-09-2008, 03:24 PM

I'm sort of in your same predicament, so unfortunately I can't offer any advice from the perspective of someone in the know. I would suggest taking them to a coin dealer/appraiser, to get someone trained to look at it and offer their opinions. But before you do that, do as much research on the 'Net as you can, and make your best estimate as to the condition/value of the coins. Use eBay to gauge a fair market value for the coins. Once you have that estimate, take it to a dealer and see what they offer, and if you're willing to take that, or put in the extra work to selling them online.

Also, maybe there's a coin collecting forum out there that you can post on that you can seek advice.

Good luck.

03-07-2008, 07:29 AM	#1 (permalink)
BulletCatcher Crazy Location: America's Outback	Any coin collectors here? I have recently come into possession of a small coin collection and am curious to see if it’s worth anything. I know next to nothing about coin collecting and my attempts to research the subject online has left me more confused than when I started. I understand that the condition (grade) of the coin is important in determining it’s overall worth but as near as I can tell there are several different grading standards with very subtle differences between each grade. Then there’s whether the strike is full and what kind of strike was used to make the coin, where it was made, etc… Basically I have no idea whether what I have is worth anything or not. After looking over several price guides online and guessing at the grade of the coin using the 1-70 grading scale I estimate the total collection is worth about $2000 to $2500 but with so many different factors for all I know it could be worth $10 or $10000. What would be the best way to go about getting the collection properly appraised? There are several ‘professional’ grading companies that I could send it to but they charge anywhere from $5 to $200 per coin depending on their estimated value which has to be paid up front so if I estimate a coin is worth more than it actually is I could actually lose money having it appraised. I suppose I could bring them to a local coin shop but I haven’t been able to find an ‘authorized’ coin appraiser anywhere nearby. The closest one is 4 hours away. Next question would be, once I know the value, what would be the best way to sell them? To a dealer? Online? Consignment? They all seem to have their own pros and cons. From what I can tell, the highlights of the collection are…. 1861 Libertyhead $2.50 gold piece (don’t know if it’s an old or new reverse) 1881 Libertyhead $5.00 gold piece 1909 Indianhead $2.50 gold piece 1914 Indianhead $2.50 gold piece 1984 Canadian gold Maple Leaf 1/4oz 2 1863 silver eagle pennies 15 Libertyhead (Morgan) silver dollars from between 1881 to 1922 About 100 various pre 1964(silver) nickels, dimes and quarters The rest of the collection consists of various foreign coins, 20 Commemrative Silver coins and other US coins that don’t appear to be worth much more than face value. Any advice on how to get fair value for this collection would be greatly appreciated.

03-09-2008, 03:24 PM	#2 (permalink)
yellowmac Insane Location: left coast	I'm sort of in your same predicament, so unfortunately I can't offer any advice from the perspective of someone in the know. I would suggest taking them to a coin dealer/appraiser, to get someone trained to look at it and offer their opinions. But before you do that, do as much research on the 'Net as you can, and make your best estimate as to the condition/value of the coins. Use eBay to gauge a fair market value for the coins. Once you have that estimate, take it to a dealer and see what they offer, and if you're willing to take that, or put in the extra work to selling them online. Also, maybe there's a coin collecting forum out there that you can post on that you can seek advice. Good luck.