How To Sell Dad's Collection?

It could take months to figure it out.

I also agree that you should keep at least part of the collection. Even if you're not interested in them, the next generation might like something that belonged to their grandfather.

Thank you all - esp since I am an amateur and so my questions are so basic....

Once I figure out what they are and if I decide to sell some, how do I sell them? On ebay? Or at a special type of brick-and-mortar store?

I'd say keep them in memory of your dad and only sell the key date/ high grading coins if you have them if you really need some money. No point in selling all because some coins like say a 44 Wheat cent will not get you much in return but can be a momento for your father?.

All of the above is GREAT advice.

YOU have to KNOW what the collection consists of AND what the retail value is.

ebay is a BAD idea - for a couple of reasons. First - the cost to sell will cut 20% off the top PLUS your TIME. You do need to place a value on your time. Second - if the coins are not graded by PCGS/ANACS/NGC - you will not realize the true value on ebay.


I would HIGHLY suggest finding a local coin club. Every coin club primarily consists of collectors. Yes, there will be a dealer or two...and a "vest pocket dealer" (person who solely fips for profit).

Get several estimates on the value.

As indicated above, the most important thing for you is to put some time and effort into self-education. You need to develop an understanding of what you have,
because it may be an eclectic collection of modest (or minimal) overall value and on the other hand it may be a dream collection that's worth a fortune.

Beyond that, a few personal feelings...
1---Using Craigslist is inviting disaster if not bordering on suicidal. Too many predators use it as their target list.
2---Ebay is loved by many, but has a lot of problems. Once you know the value of what you have, I'd sell it to LCS's &/or show vendors if I was in your position.
3---Avoid "We Buy Gold" places. Too many of them are predators and scavengers.
4---Get to know your LCS's. They'll hopefully be ethical but this isn't a given. Look for ANA membership as (hopefully) one indicator of a good shop.
5---Be cautious with show vendors. Many are of dubious if not bad intent.

Good luck with your efforts.

Edit--- There's even a book on the exact subject of your quandary. http://www.amazon.com/What-Granddad...elling+coins
Since it'll only cost you ~$7 (used), it might be the best $7 investment you could make right now.

Local coin shop

BTW

All the posts in this thread have been good and have already covered the question pretty well.

I just want to reiterate that one thing you probably should do is take pictures and post them here. If the coins are in albums or folders, take pictures of the obverse of each individual page to save time. If the coins are in slabs, just photograph the slabs. If the coins are just rolled up or loose, then more work would have to be done. Many people here could tell you (after 5 minutes of looking) roughly what such a collection is worth, how you should sell it, and what you may wish to hold on to with such pictures. It would be worth it because the research required to confidentially asses that yourself from point zero might be days work.

I also want to caution about getting your hopes up. It's possible your dad had something valuable, but it's also possible he didn't. Many people do collect just for fun. A small hoard of circulated Buffalo nickels and worn Mercury dimes might have been a lot of fun to put together but might only be worth $150 or so...just an example.