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New Dude With No Clue

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First Page  Showing last 15 replies.
Author Previous TopicReplies: 17 / Views: 1,967Next Topic Page 2 of 2
Pillar of the Community
United States
5318 Posts
 Posted 06/24/2008  3:40 pm  Show Profile   Bookmark this reply Add KurtS to your friends list
I'm in California too...I'll just say there's lots of helpful collectors here!
Pillar of the Community
United States
5318 Posts
 Posted 06/24/2008  3:48 pm  Show Profile   Bookmark this reply Add KurtS to your friends list
The best bet would be for some collectors local to your area to recommend a trustworthy dealer to get the coins appraised.
I say trustworthy because some dealers will seriously downgrade collections for their own profit. Then there's a few coins that have valuable varieties. For example the 1873 Indian Head cent "closed 3" is valued at $300 in AU50, but the sought-after DDO in that grade is worth an easy $5000--and will sell for that price. It's worth looking at the details, particularly on 19 century US coins.

It will also pay off to do the research on your own to know the general market value of key coins. You might start with a RedBook on US coins--I just picked up a 2007 edition on Amazon for $4.
Edited by KurtS
06/24/2008 3:50 pm
Moderator
Learn More...
United States
188952 Posts
 Posted 06/24/2008  3:54 pm  Show Profile   Bookmark this reply Add jbuck to your friends list


I agree with Kurt, the Red Book is a great place to start.

Making a list of coins and posting your questions here can point you in the right direction. Pictures of the coins are encouraged, even from new users.
New Member
United States
5 Posts
 Posted 06/24/2008  5:36 pm  Show Profile   Bookmark this reply Add crabsandbeer to your friends list
Thanks, I'll pickup a copy of the book and go from there. Was hoping someone had a trustworthy contact in Jersey shore and/or Annapolis, MD area to visit in-person.

Thanks again all -- much appreciate the time and attention to this point.

Paul
Valued Member
United States
75 Posts
 Posted 06/24/2008  7:41 pm  Show Profile   Bookmark this reply Add zerozero to your friends list
I agree the Red Book is a great resource, especially if someone is unfamiliar with a certain type of coin but for someone new to the hobby (or industry) you better realize you're NOT going to get those prices listed in the Red Book if you sell to a DEALER.

Example: You want to sell some coins from your Grandfather's collection on Craig's List and you ask for the listed Red Book price. You might find a private collector who's willing to pay it.

But if you go to a dealer and sell the lot (or even a portion of it) there's no way he's gonna pay you the Red Book listed price.

I'm not a dealer and I'm not slamming dealers, after all, they have to run a business. That means they buy low and sell high ( Red Book is high).

Coins seem to do well on ebay.

And now that I think about it, I've seen Morgan dollars (in particular) go for good prices at Estate Auctions at a local auction house.

Good luck.
Valued Member
United States
148 Posts
 Posted 06/24/2008  11:38 pm  Show Profile   Bookmark this reply Add leprecoin to your friends list
Hi there. I think you are right to search for professional appraisal, if you don't have the experience.
I believe the most important thing is for you to determine approximate value, and take it from there.
If is Rare, probably Heritage or other auctioneer is your best choice.
New Member
United States
5 Posts
 Posted 06/25/2008  07:34 am  Show Profile   Bookmark this reply Add crabsandbeer to your friends list
Any ideas on local professionals (auctioneers, collectors, appraisers) that folks would trust to provide an opinion?
Member
United States
3242 Posts
 Posted 06/25/2008  08:08 am  Show Profile   Bookmark this reply Add amac44 to your friends list
1st
Be picky they will try to give 45% 50% of the value of the collection.
your best bet is post them here and with all the folks here you can get a ballpark price.
2nd Red Book is a must!
Pillar of the Community
United States
2254 Posts
 Posted 06/25/2008  09:51 am  Show Profile   Bookmark this reply Add tights24 to your friends list
Our forum owners live in Dover. I know they are busy, and may not be able to help immediately, but since they used to reside in Jersey, they may know of good contacts in the area.

Also a fellow Moderator lives near AC I believe and may have some contact info for you.

I will contact them and inform them of this thread.

As far as in the meantime, follow everyone's advice thus far. Get yourself a RedBook and identify any key coins you have. Sort out the denominations and then by year groups. i.e., quarters, then to 1964 and earlier to separate the silver, then separate by types from washingtons to Barbers etc. That will make it much easier to start helping you.

Oh, and welcome to the forum.
Pillar of the Community
United States
6326 Posts
 Posted 06/25/2008  11:17 am  Show Profile   Bookmark this reply Add eaglefoot to your friends list


I too would recommend that you ask our "Moderators"....and the Forum Mom and Dad live near your area, as mentioned, so they could certainly tell you where to go and who to meet with, if they themselves wouldn't.
Basically that's what you want right ?.....someone trustworthy to look at the entire collection.......ask the Forum Mom &/or Dad for spot on advice there in your area !!
Valued Member
United States
201 Posts
 Posted 06/25/2008  11:47 am  Show Profile   Bookmark this reply Add Steamwalker to your friends list
You can't go wrong with the phone book:

http://www.yellowbook.com/search/?w...olis+MD
Edited by Steamwalker
06/25/2008 11:48 am
Valued Member
United States
201 Posts
Valued Member
United States
429 Posts
 Posted 06/25/2008  6:02 pm  Show Profile   Bookmark this reply Add penny pincher to your friends list
If you have as many coins as you are talking about, you may also want to ask some trustworthy family members to help sort it out and look up information as well. There is no way to know the value of every coin since you sound like you have never collected them yourself, so if it looks unusual put it in its own pile. Also, I would suggest sorting out any that may be graded by a third party source, gold, silver (if you know what you are looking for) and any coins your grandfather may have taken extra care of. If you do not need the money right away I would also suggest shopping around and getting more than one price for the collection.

If you do have the time (and patience) it would be good to take photos and list as much as possible so you can have a person list as backup. Like others have said before, there are those that will buy from this site. The advantages there are that : 1.you get to set the price. 2. You do not need to pay for hosting, listing or selling to another site. And 3. from the time I have been here this has been the best site for honest collectors I have seen. If you do sell to this board I would also suggest getting in touch with the moderators because they can aim you to the people that will be honest and most likely to buy what you have.

The other advantage of the photos is that you can post them here and the members can help you out with what is in the collection. If you know nothing about them then any help is great to have and where there is a wide range of people that specialise in so many areas this is a great asset.
Moderator
Learn More...
United States
23522 Posts
 Posted 06/25/2008  7:32 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list
I live just outside Atlantic City (Galloway), and would be happy to help. How can I be of assistance?
New Member
United States
5 Posts
 Posted 06/27/2008  09:42 am  Show Profile   Bookmark this reply Add crabsandbeer to your friends list
Hi Dave, email sent to your addy. Thanks again for the outreach and thanks to others for input too.
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