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 Replies: 21 / Views: 3,079 |
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Pillar of the Community
United States
1475 Posts |
Categorize what you have and describe them at CCF with pictures.
Since most of us will not be buying from you, majority (hopefully all) of us will give you unbiased opinions as to value and course of actions.
Armed with that, you can decide your next step.
Good luck!
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Pillar of the Community
United States
7624 Posts |
If the collection is unorganized and has been for long time then there is no rush to dispose of it. If it takes 3, 6 or 9 months to get it inventoried then that's what has to be done. The object of the game is to maximize the return to the estate.
Most dealers I know will not take the time to accurately grade your coins UNLESS they are being paid huge appraisal fees of $100 an hour and up. If they are doing a free rough appraisal they'll say "this coin is circulated" or "this coin is uncirculated" and this is what I'll pay. The difference of a few grading points in either category can be a huge difference in value. You need to know what you have BEFORE walking in the door with a box full of coins.
Post pictures here to get a feel. There are plenty of eyes on these boards willing to help you....for free!
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Pillar of the Community
United States
4211 Posts |
What part of the US are you in?
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Bedrock of the Community
13014 Posts |
Quote:
eah I was hoping to get some names of people who the community really trusts. I know some about coins. Not to wash or clean them ECT but we really are going to need an expert and people we can trust and I just don't know the best way to begin tackling such a big collection. I guess we could start with doing some kind if inventory. But there's so much I know if we do it we will miss stuff and not be good at identifying the key coins could be worth a significant amount of value. You need a complete inventory to start. Date, type, and mint mark will be okay for that at first. If you have no idea what you have you're asking to be ripped off. Most likely a large percentage of it wont really be worth much but if you don't put in the effort you can miss what would be worth it. Location would have to be revealed for options on who to appraise it. |
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Pillar of the Community
 United States
2843 Posts |
If you are anywhere near me, I would be vary glad to take a look and give my opinion. I probably couldn't look at every single item, but a general assessment could be done. I am in the Detroit Michigan area.
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Pillar of the Community
United States
4883 Posts |
Good advice given so far. Despite the size of the collection, the part of the evaluation process that you'll have to take on is preparing the inventory. To keep this manageable, you might start by selecting only a portion of it that seems to you to be the better grade material, but I wouldn't turn over any amount of it to anybody without both parties via a checklist verifying exactly what the lot being appraised consists of. If any dealer(s) you select is potentially going to be afforded an opportunity to purchase the material, there may not be a charge to you to go through it. But be up front and honest about your intentions in this regard. My other recommendation would be to utilize the PNG (see: https://pngdealers.org/ ) to find the sort of dealer in your area that you can have confidence in. Colligo ergo sum
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New Member
 United States
8 Posts |
I live in Kensington md but the estate is in Bowie md
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Bedrock of the Community
13014 Posts |
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If any dealer(s) you select is potentially going to be afforded an opportunity to purchase the material, there may not be a charge to you to go through it. You'll almost certainly lose more as they talk down things to buy them cheap |
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Bedrock of the Community
13014 Posts |
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I live in Kensington md but the estate is in Bowie md David Lawrence would be my call. You can sell on consignment with them as well if you chose and they'll know who to dump the common stuff with |
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Rest in Peace
United States
17900 Posts |
Lawrence is a good suggestion in that area. Too good to be bad.
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Bedrock of the Community
United States
12477 Posts |
Great suggestions so far. I will reiterate to take your time and create a complete inventory by type/date/mm. With that much to go through, it will be worth it in the long run to be patient and not rush through it. I envy your predicament!  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
992 Posts |
DO NOT just start selling it off, in whole or part, you will leave a lot of money on the table, as the saying goes.
Break it down into components, as in your initial message, proof sets, currency, confederate bills, silver coins, etc., and start inventory of the component.
You can have a good appraisal made of each component. If you have it all appraised at once, you'll get a mishmash of value. You need the inventory for yourself, and to give to the appraiser. NEVER just give an appraiser a box of coins and ask 'how much is this worth'? Do inquire of the appraiser about his insurance, expertise, and what kind of an appraisal you want, i.e., appraisal for sale, appraisal for insurance, etc. Expect to pay for an appraisal of any type, get the fee stated up front and pay it, with nothing taken out of the collection, except perhaps proof sets or mint sets, something similar that's not really marketable.
Edited by paxbrit
03/25/2018 9:27 pm
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Bedrock of the Community
Australia
21788 Posts |
If you are working on an estate collection there is a responsibility to do as well as you can for the beneficiaries. You also have a personal vested interest if you are a beneficiary as well. Time (weeks or months) will be needed to get the best value return. Post some pictures of what you consider to be the most valuable items, and we can give you some unbiased third party opinions, on how to get the best financial return. Low valued items are best grouped, and high valued coins best sold as singles. Different options for different coins: public auction through a coin dealer through a bullion dealer ebay |
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Valued Member
United States
179 Posts |
Obviously more pictures help us all get a good idea in terms of what you have.
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Pillar of the Community
United States
4233 Posts |
I have zero experience with this, but knowing that appraisers charge by the hour, I would start by counting up the various denominations of silver and gold, and determine an approximate bullion value. Then you have a baseline value to compare against an appraisal estimate. For example, let's say you have a boatload of silver half dollars, 11.25 grams of silver in each, $.53/gram silver price today = $5.96 melt value each. If your appraiser charges $100/hr, they'd have to appraise 17 coins an hour for you to break even. Such an analysis might inform your decision about how much work you want to do yourself (and how much knowledge you want to try to acquire) versus paying somebody. If it were me, I'd whip through and separate out all the "junk silver" rather than pay an appraiser to do it.
Just my quick thoughts.
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Replies: 21 / Views: 3,079 |
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Posted 03/25/2018 6:23 pm
