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Replies: 86 / Views: 9,826 |
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New Member
 United States
26 Posts |
Well, I am back from the coin store. The owner wasn't there for a proper, formal, appraisal but the woman at the counter wasn't too impressed and, to her, most of them appeared to have been polished as they were too shiny in her opinion to be worth much.
It was just as I expected. However, I will try to take some photos soon, especially of the CC's, but not sure what to do for lighting just yet.
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Pillar of the Community
United States
1388 Posts |
Quote: most of them appeared to have been polished Was afraid of this.
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Moderator
 United States
23522 Posts |
Quote: However, I will try to take some photos soon, especially of the CC's, but not sure what to do for lighting just yet. Just shoot. We'll help you correct on the fly. 
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New Member
 United States
26 Posts |
Quote: Just shoot. We'll help you correct on the fly. Family has been in and out all day with tomorrow being the crazy family day. Christmas day will be my downtime. I just posted here re: lighting: https://goccf.com/t/193231#1790783
Edited by Tobit 12/23/2014 4:25 pm
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Moderator
 United States
23522 Posts |
We're already talking there. 
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New Member
 United States
26 Posts |
I may start collecting on my own after being here only a short while. However, my interests/tastes are different from that of my dad. Some ancient Roma coins have been catching my eye.
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Pillar of the Community
United States
937 Posts |
Tobit, I have not read this whole thread as it got painfully familiar. A friend of mine went through a very similar situation that got worse when her father died as they could not find where he hid the coins for safe keeping. A year or so later the A/C broke down and they caught the repairman sneaking a suitcase out of the attic with about one third of the ‘collection'. A long story short is they never found the other two thirds and could not prove the repairman took it so he got off on a misdemeanor attempted fraud or such thing.
You cannot force him to stop anything without getting him declared incompetent. I do not know if that has been discussed as I stopped reading all the posts, but I doubt you want to get into that battle. People have given some good advice I ask that you heed it well. Please do not alienate your parents over this that is more important than all the money he could ever spend or lose. I truly hope you can convince him to ‘invest' elsewhere. I sincerely hope you get this worked out soon.
I cataloged and sorted the coins that were left for my friend. We also had all the bills of sale from his ‘collection' and got her to an honest coin dealer. The dealer paid her mother a little over $9000 for what the invoices showed her father paid over $30,000 for. And we never found over $60,000 of what he had.
I wish you the best.
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Pillar of the Community
United States
7620 Posts |
Your Dad may have some mental health issues that need addressing.
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New Member
 United States
26 Posts |
Quote: You cannot force him to stop anything without getting him declared incompetent. I do not know if that has been discussed as I stopped reading all the posts, but I doubt you want to get into that battle. Quote: Your Dad may have some mental health issues that need addressing. Thanks to both. Tryna, it's been briefly brought up but not an appropriate forum for this discussion. My dad, in general, is a very complex issue beyond this. I don't want to break him to the point of stopping his "collecting" as I think he enjoys part of it, I just want him to buy from other, more reputable, sources. I may just need to accept he likes being courted by these places who just randomly send him coins for "preview".
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Moderator
 United States
23522 Posts |
Then educate him. New collectors don't have to be kids. Work with him. Learn collecting together. We'll help.
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Pillar of the Community
United States
7620 Posts |
As long as he keeps sending them money (by paying the invoice) they will keep sending him coins on approval. All the purveyors know is they have a "live one" on the hook that keeps sending them money. They could care less about your Dad's well being or how bad they are "burning" him. Believe me, you are not the only child that faces this type of issue with elderly parents.
This is a sticky situation and none of the answers are perfect.
If talking and rationalizing with your Dad does not work you either leave it alone or talk to your Mom about consulting with a family lawyer to see what legal options she may have available. If the buying addiction is affecting THEIR financial health (or quality of life) then she needs to take the steps to correct it. That could include canceling credit cards and closing bank accounts as a starter.
I wish you and your family good luck with how this plays out.
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Pillar of the Community
United States
1208 Posts |
Most of those sets are composed of "whizzed" coins in my experience. Cleaned, altered, and/or polished. That is what was in the sets that family used to buy for me as holiday/b-day gifts. It was heartbreaking for both them being scammed, and the forever ruined coins in the sets.
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Pillar of the Community
United States
1531 Posts |
Quote:Kenneth Pines, owner of coast to coast coins, was expelled from the ANA in 2003 and generally has a less than stellar reputation in the numismatic community from what I've heard. ... Oh.  Didn't know that. I found out about Coast Coins from someone on CCF and have purchased one of my favorite coins from them. That's news to me, and not very good news at that. Any idea why he was expelled?Edit: I did some research, and found he got expelled for selling overpriced, whizzed coins. Good thing I've only bought certified coins from him. 
Edited by Cruisinfusion 12/24/2014 10:31 pm
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Pillar of the Community
United States
9792 Posts |
Does your Dad enjoy reading at all? If his eye sight is still good, and he can comfortably read books, you may try and introduce him to some good coin books, like "Adventures with Rare Coins" and " United States coins as Illustrated by the Garrett Collection" both by Q. David Bowers, excellent reads that might slow down his spending willy-nilly for a time, then get him to read any number of books by Scott Travers (all very good on investment woes and pitfalls, as well as strategies). An older book on investing or at least making a profit in the coin business, David Hall (PCGS) wrote, that is out of print, but not too hard to find, is still relevant other than pricing. David discuss and interviews the top coin dealers in the business as to which coins are the ones that will increase in price over time, and in which grades to own. Some real eye openers in the lists in the book - "Mercenary's Guide to the Rare Coin Market" I see copies currently listed on Amazon for under $1.00 + S&H. That last book should show your Dad what he is buying is not investment grade. David explains how even coins like 1913 Nickels aren't really good investments (usually), his book is direct and straight to the point. I read a ton of books myself, (almost all coin related) and was really impressed by "Mercenary's Guide to the Rare Coin Market" - which I had not read until a couple of months ago, though the book came out in 1986. My Dad was similar, though he blew his money on get rich quick schemes, leaving my Mom nothing after he died, so sad as he had over $1 million at one point, whittled down to a bankruptcy, and IRS tax liens by the time the medical bills were paid off. I never expected anything from him, but to see that my Mom was left with only her Social Security check every month after how much they had 10-15 years before he passed away was almost criminal, she couldn't even afford to keep her insurance they had together. Please don't let your Dad do this to your Mom. I feel for you.
"Buy the Book Before You Buy the Coin" - Aaron R. Feldman - "And read it" - Me 2013! ANA Life Member #3288 in good standing since 1981, ANS, Early American Coppers Member (EAC), Colonial Coin Collectors Club member (C4), Conder Token Collector Club member (CTCC), Civil War Token Society (CWTS) member, Liberty Seated Collectors Club (LSCC) & Numismatic Bibliomania Society member (NBS), USMex, Member in good standing, 2¢ variety collector. See my want page: http://goccf.com/t/140440
Edited by westcoin 12/25/2014 4:26 pm
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Valued Member
United States
113 Posts |
Tobit, as a geriatric psych nurse, I smell some mental health issues here. I'm not 100% sure but it sounds like maybe some early dementia. Do you have nay influence over your mother and her finances? Your dad is in a position to financially ruin them. This hits me hard since a similar thing happened in the last 8-10 years in our family. We were helpless to intervene, though.
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Replies: 86 / Views: 9,826 |
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