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1972 Gem Canadian Dollar

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Valued Member
Coin Noob's Avatar
Canada
103 Posts
 Posted 04/26/2019  12:49 pm  Show Profile   Bookmark this reply Add Coin Noob to your friends list Get a Link to this Reply
Thanks NumisCat.

I reached out to one coin shop. They quoted $75/hour to go through and value the collection. I am in the process of getting rid of (to my change jar) everything that is easy to determine value. That might be ~30% of the collection. I'm keeping a few things purely for aesthetics, and what is left I may (or may not) take to the guy I spoke with. Aside from that $75/hr there is a question of trust, when the person valuing things may have a stake in the claim, if he also decides he wants to buy something.

For me the equivalent is Beckett and sports cards. Honestly they're mostly a joke. I'm not sure how they justify their own existence when the market itself takes everything they say, and then tosses it out the window and sets their own price.

Appreciate all the time people have spent ... I plan on minimizing mine (luckily I type fast). Tempting just to throw the lot on Kijiji for $200 OBO and go for some whiskey and wings. :)
Valued Member
Canada
395 Posts
 Posted 04/26/2019  1:48 pm  Show Profile   Bookmark this reply Add Talonbat to your friends list Get a Link to this Reply
Although NumisCat is correct in it being alot of work some people need to experience it to believe that getting half the market value is actually worth the time they would have had to spend. It's also important for heirs of collections determine what they intend to do with the collection before they start, in most cases selling it as a lot to an honest dealer or collector is probably the best bet for cash vs time.
Coin noob puts up great points too that even if he decides to sell it all, how is he to know who is being honest and who is not. I know when I appraise a collection and especially if I am also offering money for that collection I will bring reference material to show book value, it's not that I need to look up the book values its to show the owner the values written down in a book and then also show them sold prices on either ebay or another coin auction to show actual market value then tell them what I would pay and why. You can also do the same yourself if you are getting an appraisal and look up actual market value( ebay sold listings) vs the prices they tell you.
A good reason why I always suggest coin clubs is they are generally a free and easy way to get help from multiple sources at once.
Lastly I see you're in Calgary and they are having the RCNA convention this year in the summer, that means more collectors and dealers in your area at that time and more choices for you to use.
If you do want to go the Kijiji I think there are better choices like the BST forum here or over at coinsandcanada or reddit /r/Coins4Sale/ at least with all these places you'd be selling to numismatists and not just people interested in the precious metals.
Valued Member
Coin Noob's Avatar
Canada
103 Posts
 Posted 04/26/2019  6:03 pm  Show Profile   Bookmark this reply Add Coin Noob to your friends list Get a Link to this Reply
I took a few that were older (1880's) graded decently (VF), and had good book and auction values listed, to a coin dealer in a flea market an hour ago. She immediately offered melt value. I said sure.... but I will take it to someone else to melt.

*shrug* I will be taking a lot of it to a place that buys it for silver weight, but I won't let one person who tells me the price, also buy it. The conflict of interest makes the hair on my neck stand up.
Valued Member
Canada
395 Posts
 Posted 04/26/2019  7:12 pm  Show Profile   Bookmark this reply Add Talonbat to your friends list Get a Link to this Reply
If the person who is telling you the price is also offering the most I don't see why you wouldn't take it. Generally people who buy silver and gold based on weight offer less money btw. Also VF coins from that time period are always worth more than melt.
Edited by Talonbat
04/26/2019 7:13 pm
Valued Member
NumisCat's Avatar
Canada
288 Posts
 Posted 04/26/2019  7:38 pm  Show Profile   Check NumisCat's eBay Listings Bookmark this reply Add NumisCat to your friends list Get a Link to this Reply
Valuing coins can be tough, but the one thing you can do on your own is learn how to calculate the melt value. That's easy math. I wouldn't take coins to a flea market. Look up a reputable coin dealer with an office or storefront in the city.
Valued Member
Coin Noob's Avatar
Canada
103 Posts
 Posted 04/27/2019  12:08 am  Show Profile   Bookmark this reply Add Coin Noob to your friends list Get a Link to this Reply
Agree... melt value is a snap. That's where the sites linked have proven useful. Weight and % silver.

I have a great spot to let take them l. I just don't want to melt any potential collectable ones. Say pre 1900.
Valued Member
Coin Noob's Avatar
Canada
103 Posts
 Posted 04/27/2019  12:11 am  Show Profile   Bookmark this reply Add Coin Noob to your friends list Get a Link to this Reply
I wouldn't sell it to them because they were only offering melt value.. So if they wanted 1 coin at melt value it made no sense to do that when I can take them all to one place to get that. That way, if they were trying to get them cheaper tha fair, they would not benfit.

If they offered me more I might have accepted.
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