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Taking Over Family Coin Collection

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First Page  Showing last 15 replies.
Author Previous TopicReplies: 16 / Views: 2,579Next Topic Page 2 of 2
Pillar of the Community
Australia
1014 Posts
 Posted 11/24/2008  11:53 pm  Show Profile   Bookmark this reply Add justabeginner to your friends list
MtnCoinMan sorry to hear about that, but you can try to complete the Silver Eagle set.. They are still 'gettable'. Many of them go for a little over bullion value, so its not too expensive a set to complete.. :) Lastly, welcome to the forum... I think regarding storage vermontensium has answered pretty much everything.. Oh and those silver dollars are probably MOrgan and Peace dollars btw.. :)
Pillar of the Community
United States
2540 Posts
 Posted 11/25/2008  07:45 am  Show Profile   Bookmark this reply Add TreasHunt to your friends list
Welcome to the forum, and perhaps pick up "A Guide Book to US coins" by R S Yeoman.
Read it and decide what you would like to collect.

Bedrock of the Community
United States
19961 Posts
 Posted 11/25/2008  09:12 am  Show Profile   Bookmark this reply Add BadThad to your friends list
Welcome to CC!

Just to add....DO NOT RUB THE COINS WITH ANY CLOTH! Never rub coins with anything or you chance destroying any numismatic value. Never clean coins.
Lincoln Cent Lover!
VERDI-CARE™ INVENTOR
https://verdi.care/
Pillar of the Community
United States
533 Posts
 Posted 11/25/2008  12:47 pm  Show Profile   Bookmark this reply Add MorganNoob to your friends list
Yes you probably should get that set on Lincoln Cents out of the cardboard folder and into an Album. I think most here would suggest Danisco Albums as a solid choice. Check out https://www.WizardCoinSupply.com and pick up some supplies.

A couple things to remember:
1. Always wear light cotton gloves when handling coins, if you must handle without gloves, hold them by the edge.

2. NEVER clean your coins. (Well... almost never, but just pretend I said never)

3. There is no such thing as a stupid question. There are many extremely knowledgable members of this forum, and they are all more then willing to share their store of knowledge.

Lastly
Pillar of the Community
United States
666 Posts
 Posted 11/25/2008  12:54 pm  Show Profile   Bookmark this reply Add SpringCypress to your friends list
I'm so sorry to hear about your father. IMO that's the possibly the worst disease in the entire world for a victims family. You have my heartfelt sympathy.

Everyone here has given excellent advice especially BadThad (Ignore his signature for the time being...)(Feel free to check out mine though)

:)
Valued Member
United States
462 Posts
 Posted 11/25/2008  1:25 pm  Show Profile   Bookmark this reply Add MtnCoinMan to your friends list
Thank you for the responses so far. Yes, Alzheimers is very devastating, my dad doesn't even know who I am and we ran a business together for almost 20 years.

Along with the Red Book, which I have seen, is there any other good books that I can read to get up to speed?

I have read many times about not cleaning coins and I can see the reason. But I am also a metal detector and sometimes you have to clean off mud, grease, paint just so you can see if it is a coin or a washer. Is there a safe way to do that? Also, is it OK to clean clad so you can spend it?

Another question. Do I need to inform my Homeowner's Insurance Company that I have a coin collection? Should I buy a large safe? I have a small one for papers only.

What other questions should I be asking?]

And THANK YOU again!
Pillar of the Community
United States
1208 Posts
 Posted 11/25/2008  2:08 pm  Show Profile   Bookmark this reply Add ratio411 to your friends list
Get the pennies in a Dansco.

Sorry about your Dad. Mine just passed after taking 6
years to slowly die of congestive heart failure. He had
collected stamps, which I knew nothing about, and now I
am a stamp collector by default. I am enjoying it, but
coins are still my first love.

Good luck!
Stick around here and you will learn much.
Pillar of the Community
United States
1179 Posts
 Posted 11/25/2008  3:58 pm  Show Profile   Bookmark this reply Add ceaton to your friends list
For mud and gunk you can always try to soak them in distilled water or even acetone (be careful with it). Do not rub the dirt off, a good soaking should take off what is meant to be taken off.

Sorry for your loss. You will find this forum to be your best friend when learning about coins.
Pillar of the Community
United States
3294 Posts
 Posted 11/25/2008  3:59 pm  Show Profile   Bookmark this reply Add nod2003 to your friends list
I think acetone might be flammable, just a heads up.
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United States
16679 Posts
 Posted 11/25/2008  5:52 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list

Quote:
Should I buy a large safe? I have a small one for papers only.

I keep the vast majority of my collection in a bank safe deposit box. That's the best way to go. That way, the coins are out of your house in case of burglary. I also have a safe at home. It is a Sentry fire retardant safe I bought for $150 at Kmart. It is sufficient for paperwork or not too expensive coins. Mine is bolted to the ground and the door opens away from the wall to avoid someone using a pry bar to force it open. If it is not bolted to the ground, 2 people could easily carry it out. Homeowners insurance is also a wise idea.
swcoin.ecrater.com
Pillar of the Community
United States
666 Posts
 Posted 11/25/2008  10:10 pm  Show Profile   Bookmark this reply Add SpringCypress to your friends list
There are lots and lots of great books out there to read however, if you have the RedBook I think you've got all you need for right now between the RedBook and this forum. If there comes a time that you decide to specialize in one series then I might suggest looking into books specific to that series. But until that time most of your questions can (and will) be answered here if you ask.

Dug coins are a different story (in my book at least) when it comes to cleaning coins. If I have a coin which I can't determine what is I generally proceed cautiously until such point as I have an idea of what type of coin it is. If it's something other than a modern it goes in the pile with the other nasty dug coins which I know what are and they all go in the rock tumbler for a while until such point as they can be rolled up.

If it's something that might be special it depends on what type of coin it might be and what type of filth and nastiness is involved. The first step though is to let the thing sit in distilled water for a very long while. Badly encrusted coins sometimes get zapped for a couple of minutes, but usually I try a peroxide bath before zapping. You'll see a lot of talk about letting coins sit in mineral oil, but this is usually my last resort as it precludes most other forms of cleaning.

As to informing your homeowners insurance... I don't know. I haven't, but I do take quality pictures of my better pieces and have a rough inventory of what my collection consists of. And as someone else said, I keep my keys and major sets in a safety deposit box.
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United States
16679 Posts
 Posted 11/25/2008  11:25 pm  Show Profile   Check vermontensium's eBay Listings Check vermontensium's eCrater Listings Bookmark this reply Add vermontensium to your friends list

Quote:
but I do take quality pictures of my better pieces and have a rough inventory of what my collection consists of.

Excellent advice springcypress. I do that on all my better pieces as well, then keep the pics on a flashdrive.
swcoin.ecrater.com
Bedrock of the Community
United States
20753 Posts
 Posted 11/27/2008  01:00 am  Show Profile   Bookmark this reply Add just carl to your friends list

Your in the right place to get advise. As to acquiring Dansco albums, OK but there are other brands also available. With me I use Whitman Classic Albums and there are many more out there. If I were you I wouldn't go running all over the place attempting to find a certain brand of album. If you find a dealer or book store that sells a certain brand, try it out. The main thing is to get those coins out of the cardboard folders. In the rear of the slots as you take out the coins you'll notice the rear of those slots are shinny from glue. OK for young kids but not for coins of any value.
Do not clean any of the coins, handle all carefully and by the edges if possible. Don't go out and purchase any coin cleaning substances including Acetone unless you really know how to use that stuff and have a well ventilated area.
As to coins safety, the best method is to keep your mouth shut about them. Presently all info given to an insurance organization goes into a computer system and someone that has just lost a job there may well have all your personal info. If they need money, your house may be next. The safe place as already noted is a safe deposit box in a bank. Having a safe at home is OK but if someone holds a gun to you or a family member, that safe is quickly opened anyway. Just don't spread the word about those coins.
It's amazing how if you tell someone you have $10 in coins at home, someone will be saying you have millions.
Rest in Peace
United States
9104 Posts
 Posted 02/08/2009  08:18 am  Show Profile   Bookmark this reply Add biggfredd to your friends list

Quote:
In the rear of the slots as you take out the coins you'll notice the rear of those slots are shinny from glue.


You can tell you're an old-time collector. Whitman hasn't glued paper to codbod for 30 years, at least. Now they glue to codbod to the paper. The old type did leave some interesting striped toning, tho.
Bedrock of the Community
United States
20753 Posts
 Posted 02/08/2009  7:46 pm  Show Profile   Bookmark this reply Add just carl to your friends list

Quote:

You can tell you're an old-time collector. Whitman hasn't glued paper to codbod for 30 years, at least. Now they glue to codbod to the paper. The old type did leave some interesting striped toning, tho.


You may be right, but all the folders I've seen have always had that shinny back in the slots. And don't forget that not only Whitmany is now making those folders. Many, many companies are making them for the State Quarters, baby sized Presidential dollars, etc. Think I'll check with Whitman as to their latest process for those folders though. Like I said all the ones I've seen have that glued look on the back of the slots.
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