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Bedrock of the Community
United States
17884 Posts |
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Unfortunately, My sister and brother are too eager to get the cash. If I had my 'druthers' I would take the time to do it right but the siblings are eager. Talk about being pound wise and penny foolish... hey.. I made a funny! Thanks for the help! If the siblings are that eager just added the face value of all the silver (of any type or age) and offer them 10X face for their share. If they are that eager they'll probably jump on it. Then you can go through it at your leisure. (Don't worry about paying 10X face, dealers will pay you a lot more than that.) Then as you determine what you don't want or what is common and you would rather convert to cash you can sell it off and pay yourself back for what you paid your siblings. If you get back more then you can decide about splitting the excess with the siblings. The advantage of this is that you don't accidentally dump good coins as commons just to satisfy the siblings greed for quick money. And you could come out ahead by capitalizing on their impatience (depending on how much of the excess you are willing to split with them.) |
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Pillar of the Community
United States
3755 Posts |
I agree with conder.
As for your question about the silver. 1964 and before in halves, quarters and dimes are 90% silver. From 1965 to 1969 halves are 40% silver. 1970 is as well, but they were only issued in mint sets, so the odds of them being in pocket change are slim.
if the collection is that large, you really need to go through it slow and steady so you dont miss somehting truly valuable.
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Pillar of the Community
United States
1231 Posts |
Or if they are that eager to get cash. Get your siblings together and take the coins to a few dealers for an estimate. Then just buy your siblings shares of the collection.
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Forum Dad
 United States
24171 Posts |
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Note the prices in a 2007 book may well be more up to date than the latest version. Softy Susan sent a 2011.  |
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New Member
 United States
9 Posts |
Thanks for all the help. I'll try to keep it all in mind while dealing with everything!
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Pillar of the Community
United States
927 Posts |
If your father saved most of these coins from circulation then most likely only the silver coins are worth something. Wheat pennies (before 1959) and War Nickels (1942 - 1945 with a large mint mark above the dome on the reverse - these are silver also) are also worth more than face value. You can turn the rest in at the bank. When you cash in the silver coins, please take them to a coin dealer. DO NOT go to any of the places that take out full page ads in the newspaper. The "road show" people will not give you a good deal. |
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New Member
United States
9 Posts |
perfessor, Thanks for the info. We were a bit disappointed when a family friend said our Morgan dollars from 1891 were 20 x face value. Of course, we wanted there to be some type of 'sleeper' coin that would make it worth all the hard work of sorting through the thousands of coins. Things like Indian head pennies and Buffalo nickles not much value to those either. Everything is well worn. *insert heavy sigh here* LOL |
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Pillar of the Community
United States
2120 Posts |
Your 1891 Morgans are worth more than $20 each. perhaps more like $25. Also, this would be for very worn pieces. If they are are more in the AU range (almost un-circulated) they could be closer to $40 each. 1891-O in a Mint state (MS) grade can go for over $100. 1891-CC in ANY grade is worth more than $25. The mint mark would be on the reverse underneath the eagle. If there is none, then it was minted at Philadelphia. Honestly, if you have cataloged everything it will make your search through the Red Book much easier. I strongly suggest you check everything. It may take some time, but it would be WELL worth it if you find something very valuable. The other thing is just know what actual value is over all helps you negotiate better when you decide to sell. You won't get " Red Book prices" from any dealer, but at least you know what " Red Book" value would be, and can go from there. It helps to keep you from getting low-balled. Also, get a quote from at least a couple dealers. Also2, If you we're willing you could divulge the general area you live in, and forum members could make suggestions on reputable dealers nearby you. For instance I live "near Seattle" and can think of 4 dealers I would Highly recommend. Hope you find that 1922 Lincoln Cent with no mint mark, or that 1955 Lincoln Cent with a Doubled front (obverse). :D |
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New Member
United States
9 Posts |
Thank you IanmPrice! Good Ideas also!
I'll keep looking for the 'goodies' you mentioned! Geez, if nothing else, I'm sure getting a 101 on coins!
I am in the 'Atlanta-ish' area. If anyone knows of a reputable dealer here. Please let me know. Atlanta is a big area, not opposed to driving anywhere in this area.
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New Member
United States
9 Posts |
Thanks again for the Red Book! I've been having fun looking things up! Any advise on how to do a 'first sort' on the pennies? I'm sure Indian head and perhaps wheat backs, anything else to keep an eye out for? Thanks! |
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Pillar of the Community
United States
1817 Posts |
The cents are best sorted by decade, 1909 and the teens together, then 20's 30's 40s & 50s. The change to the memorial design happened in '59 and all those can be put to one side. Keys and semi-key Wheaties to look for are the mint marked coins from the teens and 20's. The mintmark is underneath the date. Keep a sharp eye out for the 1909S, 1914D, 1931S and a "plain unmintmarked" 1922. Of the 1909S, there is variety with a tiny V.D.B. under the United States of America, it is the key to the early set in any grade. Special mention must be made of the 1955 Double die, or DDO. It is famous for very obvious doubling and very expensive even in lower grades. Of the Indian Head cents ( IHC) keys are 1877 and 1909S. The S-mintmark is on the back of the coin underneath the wreath. Semi keys are 1869-1872, 1908S. Good luck with weeding through everything! |
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New Member
United States
9 Posts |
Thanks Bizybackson! I'm going to have to start that today. I really appreciate the help.
~Kibbie
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Valued Member
United States
361 Posts |
As far as your quarters go, you want to be on the lookout for 1932 with either a D or S mintmark. These are the key dates and are much more valuable.
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Pillar of the Community
Canada
3692 Posts |
If you're going to buy them from your siblings and they're part yours, remember to only pay for their part!
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New Member
United States
9 Posts |
Libertad... Right you are! I already own 1/3. Executor isn't sure what to 'charge' the estate for sibling's portions. If they want to buy a Morgan dollar, 20 X Face value? Or the $38-ish dollar value the day the coin is purchased? We haven't worked out all the bugs yet. Any suggestions would be appreciated! Because of greed we had to put a monetary value to everything in the estate. Then, the 'price' was deducted from each individuals portion of the estate. Thus, using the words above 'charge'. If they weren't so greedy, we could divvy up even Steven. No luck on that frontier! One Sibling in indifferent, one hides their head in the sand the other wants everything! |
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Posted 06/30/2011 6:53 pm
