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 Replies: 19 / Views: 4,018 |
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Pillar of the Community
United States
8715 Posts |
 to the CCF! We need to know several important factors about the coin. What is your price range? Do you want coins that are very large like a Morgan dollar, or smaller like a Mercury dime? Do you want the coins to be in a relatively good condition? (For example, VF to MS) Or are you okay with coins that are more worn? (AG to F) |
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Rest in Peace
10197 Posts |
You may be jumping in a bit over your head, in both prices and your knowledge of coins. Old coins are worth more therefore cost, sometimes cost a lot! Around here a figure for buying silver is around 13.3 times its face value, hence a dime is roughly worth $1.35, $3.50 for quarters, and halves are $8.50 up. This is about the least you'll pay a reputable dealer. A roll of 40 dimes will be over 50 bucks, Mercury dimes $75, welcome to the big time! I would suggest two things to try. LCSs usually have some junk silver bins. These are worn, scratched coins, that can't be sold for top dollar. You may pick up a few for under $10-20 for a good selection. Or try buying at auctions. Local estates or on line auction sell lots of coins, like this one. The bids will go up, seen it at about $20-25 for this lot of buffalos. These nickels are about the cheapest "old" coin outside of wheat cents to buy in quantity. https://www.proxibid.com/aspr/Bag-o...lid=40984063 Edited by Crazyb0
03/13/2018 3:33 pm
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Pillar of the Community
United States
1314 Posts |
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Pillar of the Community
United States
1963 Posts |
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Valued Member
 United States
114 Posts |
I guess I'm going to just have to talk with her a little more about it. By the way, what is an LCS? Is that like a pawn shop?
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Pillar of the Community
United States
1963 Posts |
A LCS stands for Local Coin Shop.
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Pillar of the Community
United States
992 Posts |
Just take her to the local coin shop or two, and browse with her, ask questions, that's what the staff is there for.
Avoid pawn shops. The coins are generally over-graded, and the staff is usually not knowledgeable about them, either. There is a reason why some folks sell their coins to pawn shops instead of coin shops.
And, DO NOT buy any modern post-1965 coins other than US bullion coins, until you learn more about them. There is a lot of junk on the market, from proof sets to private mints, and you want to avoid spending money on that garbage.
If you want a roll of coins, not just a few singles, look at a roll of UNC Franklins, or UNC pre-1965 dimes, or something like that. In modern bullion coins, maybe a silver Walking Liberty or two, or a Canadian Maple Leaf, something like that. The British Britannias are nice bullion coins.
Consider building a type set, which is an example of each coin design produced by a country, you could get some very nice examples of common-date coins for a little money and have a nice collection to look at.
Edited by paxbrit
03/13/2018 5:12 pm
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Pillar of the Community
United States
8715 Posts |
 with paxbrit. The best way is to go to a local coin shop (NOT a jewelry or pawn shop) and ask questions. Do not buy anything after 1965 unless it's bullion, as coins from this time period are often junky and have little to no value. Not all old coins are expensive, it's just a matter of finding a design you like and that's in your budget. |
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Pillar of the Community
United States
4211 Posts |
I would check to see if you have any coin shows coming
up in your area and take her and spend a few hours there
looking at coins. I have been taking my son to coin shows
since he was about 8. He still finds time occasionally
to go to one with me...20 plus years later.
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Valued Member
United States
314 Posts |
Quote:
I would check to see if you have any coin shows coming up in your area and take her and spend a few hours there looking at coins |
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Rest in Peace
United States
18456 Posts |
I'm going to make this short and sweet . You get what you pay for . But if your mother doesn't care about value right now ,there are many coin lots on e-Bay .  |
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Valued Member
United States
453 Posts |
What about a proof set from the year she was born? That could be a cool keep sake.
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Bedrock of the Community
United States
20753 Posts |
Try a hobby store or local coin store for something called the Red Book by Whitman Publishing. Get that book and have her look through it to see what she likes and then too have an idea of how much she wants to spend. |
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Pillar of the Community
United States
4085 Posts |
If you go onto ebay and search "coin type set", you can buy various collections of different types of coins cheap. Might be a way to get started. |
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Bedrock of the Community
United States
10284 Posts |
Mom needs to join CCF and read a lot before forking out a lot of dough. Buy a Red Book at least. New collectors all make mistakes being uninformed. |
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Replies: 19 / Views: 4,018 |
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Posted 03/13/2018 3:31 pm
