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Grandpas Coin Collection

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New Member

United States
12 Posts
 Posted 05/14/2012  1:34 pm Show Profile   Bookmark this topic Add bajarob to your friends list Get a Link to this Message
Hello all,
Lets start by saying I know absolutely nothing about coins...my grandpa passed away about 5 yrs ago and my parents sold his coin collection...I just got his old safe (smaller safe ;) ) that we thought was empty and it is full of coins.
So going along with my first statement that I know nothing about coins...please don't be too rough on me. I'm trying to find some kind of values on the coins and honestly, don't have a clue where to begin. Worried that if I took them to a local shop, there are so many of them that anyone but the most honest could easily slip away with something valueable.
He has a bunch of mint sets, I guess "uncirculated", a bunch of commemerative sets and some other things I have no clue about....it's overwhelming to say the least, I don't know what to do with them, or even where to start...any help would be much apreciated. Sorry if I posted this in the wrong section or if I was supposed to introduce myself in another section.
Rob

Valued Member
United States
458 Posts
 Posted 05/14/2012  2:04 pm  Show Profile   Bookmark this reply Add SilverCoinBoi to your friends list Get a Link to this Reply
Welcome to the Community :)

Lots of people here can help you. If you can post pictures of the coins or tell us a little more about them it would be a lot more helpful.

Lucky you finding these coins!
Valued Member
United States
275 Posts
 Posted 05/14/2012  2:07 pm  Show Profile   Bookmark this reply Add Mechman to your friends list Get a Link to this Reply
Get the Red Book of Coins and most of your questions will be answered. They are US coins? The Red Book will give you a starting place and the people here are a great help!
Edited by Mechman
05/14/2012 2:08 pm
New Member
United States
12 Posts
 Posted 05/14/2012  2:15 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
Spread some of them around a bit...eisenhower dollor sets, mint proof sets from 86-98, uncirculated sets, mint premier sivler proof sets, a bunch of different sets set in plastic cases, a bunch of steel cents, Buffalo nickels. lots of plastic cases listed like "world war II" , "american series" , american frontier nicket set, silver Mercury dime set....well, hopefully that gives a brief example of what's here
New Member
United States
12 Posts
 Posted 05/14/2012  2:30 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
most of these seem to be "real" coins....some are commemerative or copy coins also, like $10 indian head gold piece, packaged on a large cardboard display as "america's most beautifull gold coins"...panama pacific $2 1/2 gold piece, small eagle $10 gold piece, classic head $2.50, $20 saint gaudens, flowing hair $4,$1 lewis and clark, etc, etc...some boxes from teh national historical mint with misc coins, boxes from united states mint olympic coins and so on
Pillar of the Community
United States
6083 Posts
 Posted 05/14/2012  2:45 pm  Show Profile   Bookmark this reply Add muddler to your friends list Get a Link to this Reply
The gold coins (if they are real) could have some significant vale. A $4 gold coin is rare indeed and again if real will command much more than the value of gold alone.

Get a Red Book, DO NOT CLEAN THE COINS, look carefully to see if they are stamped with "copy" as these will have little value.
New Member
United States
12 Posts
 Posted 05/14/2012  2:55 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
I think I listed the ones I thought were "real" and the ones that say copy on them but I probably didn't do it correctly...lol.
I'll try and find this " Red Book" at our local bookstore.
As far as the commemorative and/or copy coins...will they be in the same book, do they even have a good value? We all thought he was crazy for buying all these sets and I assume they are not worth much. But there are so many coins I've never seen (not hard, since I've obviously seen very little) I thought there might be enough value to warrant selling them to help out my dad. I don't really even understand what all these things are, since they are not loose coins...instead, most are in plastic cases and look very similar to what I'd see selling on late night tv....ol
Pillar of the Community
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United States
4087 Posts
 Posted 05/14/2012  3:09 pm  Show Profile   Bookmark this reply Add macmercury to your friends list Get a Link to this Reply
Take a few pictures and upload it here, if anything of interest, I am sure others will point it out.
You can find coin price guide " Red Book" in your public library, hopefully the recent edition is available, 99% of all US coin should be listed, except for all minor errors.
At least read the introduction to coin history.

The Mercury Dimes Specialist!
Current project: US Dansco 7070 Album
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New Member
United States
12 Posts
 Posted 05/14/2012  3:12 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
All I have for a camera is my phone and can't get the pictures here :( Thanks for the advice, I'll try and get a Red Book to help me with values. Thanks again for your time.
Rob
Pillar of the Community
United States
2277 Posts
 Posted 05/14/2012  3:21 pm  Show Profile   Bookmark this reply Add wquinn to your friends list Get a Link to this Reply
The Red Book values can be pretty high on some though, especially since the prices can be out of date for many months, since the silver and gold prices fluctuates.

But the Red Book will help determine which ones are more valuable than the rest. There are also links on here, where you can look up coins too.
Valued Member
United States
275 Posts
 Posted 05/14/2012  3:34 pm  Show Profile   Bookmark this reply Add Mechman to your friends list Get a Link to this Reply
Boy that got everyone's juices flowing! I recently inherited a coin collection and got the bug. It can be very consuming. Hope it is an enjoyable experience for you like it is for me. Just remember GO SLOW! Don't rush into anything. Knowledge is power.
New Member
United States
12 Posts
 Posted 05/14/2012  3:36 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
aparently he has a box of old loose coins in safety deposit box we're going to get tomorrow also. Good advice, I'll be patient.
Not sure if I really need another hobby...lol...so might just be looking to sell this collection.
Rob
New Member
United States
12 Posts
 Posted 05/14/2012  4:00 pm  Show Profile   Bookmark this reply Add bajarob to your friends list Get a Link to this Reply
looked up some of the coins....this is going to be a ton of work...lol...wondering if I should just take it to a coin shop and see what they say...or maybe try and find a local group or something like that.
Rob
Rest in Peace
United States
7075 Posts
 Posted 05/14/2012  4:03 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply
I'm sorry for your loss and I hope that you are considering keeping at least part of this collection in the family to be passed down to yet another generation.

You can find out a lot about each coin in the "US Coin Facts" section -- click on that in the column on the left. Just pick out one coin, look it up, see if it matches, and repeat.

You can check prices on the net -- surf ebay for similar coins to see what they are selling for, or other sites. Or just enter the coin you decided to start with into your search engine. Numismedia.com has the sale prices for the last quarter. This is not the amount you will get if you sell to a dealer, but it will give you an idea if you have a $20 dollar coin or a $200 coin...or whatever.

I'm guessing the good stuff is in the bank box...so please take your time to learn what you have before you try to sell it. Selling an entire collection at once is a sure sign of being in a hurry and I think you'll do better if you sell one coin or mint set at a time.

And don't give up on taking photos! The information you could get from the collectors and many, many experts on this site is worth the price of a digital camera...if you need one. But first read the threads on taking pictures (for beginners) because I know people have put up photo from cell phone cameras. They aren't the greatest but it is doable.

I look forward to hearing more about this collection!
Pillar of the Community
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United States
6792 Posts
 Posted 05/14/2012  7:09 pm  Show Profile   Bookmark this reply Add nickelsearcher to your friends list Get a Link to this Reply
Agree with all the wise advice give so far ... a quick re-cap ...

1. Do not make any attempts to clean or 'improve' the coins ... you can easily ruin their numismatic value ... resist this temptation no matter how bad they may look to you.
2. Purchase or borrow from your Library a current " Red Book" .... the proper title is A Guide Book of United States Coins ... author search is R.S. Yeoman.
3. Use the Red Book to figure out what you have ... all USA coins are listed in there and be mindful that the valuations are a bit optimistic ... but you should be able to sort the treasures from the ordinary with some patience.
4. Show us scans of photos of anything questionable ... the experts here are world-class ... we will help.

Most important ... take you time and enjoy the experience ... hoping you find some nice examples in you Grandfathers collection.

David
Take a look at my other hobby ... http://www.finewoodcrafter.com
Too many hobbies .... too much work .... not enough time.
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United States
4300 Posts
 Posted 05/14/2012  7:20 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
You've gotten some good advice here, so no need for me to add anything.

I agree with 'Buddy', if you do wind up selling the collection, it would be great if you could hold back at least a few pieces and keep them in your family. Even if they don't have great financial value, they will always have sentimental value and be a reason to either think about your grandfather or share your memories of him with others.

Good luck!

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