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Inherited A Lot Of Coins, No Idea What's Worth Keeping

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New Member

United States
2 Posts
 Posted 11/10/2014  12:05 pm Show Profile   Bookmark this topic Add syoung9 to your friends list Get a Link to this Message
I inherited a lot of American coins from my grandfather, but I can't call them a collection because they aren't sorted or anything. They're all loose in a variety of jars and tins and small paper baggies that are bank issued from the mid-60s. So, to call it a mess is an understatement.

Grandpa had a bunch of those collector's books, with the inserts for all the different coins. I've been sorting the coins as much as I can into all the different types and filling in the books every so often. But I have lots of doubles that I don't know what to do with.

However, I have no idea what's worth keeping, what's worth trying to sell, and what's worth throwing the coin jar to get dumped in the bank's coin counting machine. I have one of those guidebooks that tells you the value of coins, but I've also seen Pawn Stars and I know I won't get that value.

I would say 90% of the coins are 20th century, so I hope I'm in the right forum. I have no idea what to do, but I hope to get some guidance or advice.

Thanks in advance.
Pillar of the Community
United States
1158 Posts
 Posted 11/10/2014  12:13 pm  Show Profile   Bookmark this reply Add tkbslc to your friends list Get a Link to this Reply
If it is 1964 or older, the dollars, half dollar, quarters and dimes are all 90% silver. 1965-1970 half dollars are 40% silver. So that can add up, even if the coin is in bad shape or common. Definitely don't dump those in the coin counter!

If they are all in jars and tins, I'd suspect they are in circulated condition, so guess on the low-mid quality of the grade scale when looking up value.

Beyond that, check out the price guide on numismedia.com and look for anything that stands out as valuable. (i.e. 1932 quarters)

Can you just take a picture of a representative sample of the collections so we can see what you have? Any dollars or half dollars from pre 1950?



Pillar of the Community
United States
4562 Posts
 Posted 11/10/2014  12:15 pm  Show Profile   Bookmark this reply Add scopru to your friends list Get a Link to this Reply
All sorts of help available...here, a local shop, or Internet research.

For here I would suggest you get them sorted by denomination. Find some examples you are curious about. Take some nice pictures of them and post them in the proper forum. Then sit back and read the information you are given from the knowledgeable members here.

Edited by scopru
11/10/2014 12:17 pm
New Member
United States
2 Posts
 Posted 11/10/2014  12:20 pm  Show Profile   Bookmark this reply Add syoung9 to your friends list Get a Link to this Reply
Yeah, that's shouldn't be a problem to get some pictures up later tonight after work. I'll take pictures of some of what I've been sorting and some of the books that I've been working on.

Most coins are circulated, although he has a couple of cylinders of the US State Quarters that he marked uncirculated. Not sure if that means anything since they're not old. He obviously thought they did.
Valued Member
United States
62 Posts
 Posted 11/10/2014  2:26 pm  Show Profile   Bookmark this reply Add Villa Rose to your friends list Get a Link to this Reply
One approach would be to devote years and years -- decades, even - to becoming knowledgeable about the coins you have inherited. In other words, become an educated collector. Time consuming, but I've found it to be fascinating.

If that doesn't work for you, considering selling on eBay, where you can sell direct to collectors. I've found pricing on eBay to be surprisingly efficient. But here again, it's time consuming (photograph the coins, put them up on eBay, ship them out to buyers, etc.) It may not be worth the time for the lower grades and common dates which probably form most of your collection. If any of the coins are in plastic holders that say NGC, PCGS or ANACS, focus on those first.

If you sell to a dealer, be aware their offers will be heavily discounted. That's how they they make a profit when they sell your coins to collectors at the prices you see in those coin magazines.

Good luck!
Pillar of the Community
United States
604 Posts
 Posted 11/10/2014  2:34 pm  Show Profile   Bookmark this reply Add Neo13x to your friends list Get a Link to this Reply
The uncirculated coins will be in better condition than what you would normaly find in pocket change. It might also be a good idea to see if any of the coins are an error or variety. Every time I get change back from a purchase I will look to see if I have anything worth more than face value.
Moderator
Learn More...
United States
23522 Posts
 Posted 11/10/2014  2:36 pm  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply
Start here:

https://www.coincommunity.com/forum...IC_ID=167629

Maybe your first inheritance, but not ours.
Pillar of the Community
United States
4211 Posts
 Posted 11/10/2014  2:38 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
The cylinders of quarters could be a set of the " State Quarters issued for ten years starting in 1999. Five states per year for 10 years them a set of 5 territories. So look on the back of those to see if it is a State Quarter set. Not worth much over face value in circulated condition, but it might be fun to get a state map and give them to a niece or nephew for Christmas or something like that?
Pillar of the Community
United States
4211 Posts
 Posted 11/10/2014  2:41 pm  Show Profile   Bookmark this reply Add Debrajc to your friends list Get a Link to this Reply
And YES....the link posted by SuperDave above is a GREAT reference. Also, once the state series of quarters were wrapped up the mint started on the America the Beautiful series of Parks so depending on how recent the quarters are you might have a set of those that he started?
Pillar of the Community
United States
1896 Posts
 Posted 11/10/2014  4:50 pm  Show Profile   Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
It depends on a lot of things, but it is always exciting for me when people receive a coin collection inheritance (wish I would, but I think I may be a first generation collector if you don't count my mom holding on to a few JFK halves). Good luck with whatever avenue you pursue!
Pillar of the Community
United States
2076 Posts
 Posted 11/10/2014  8:17 pm  Show Profile   Bookmark this reply Add OldSkoolMadSkilz to your friends list Get a Link to this Reply
Sounds like you inherited a hoard, not a collection. There's probably some good stuff in there. Nothing that will change your retirement strategy, but who knows. For each series there will be one or two that are worth a lot more than the others, but they are also rare, so you probably won't find those. There are then a small handful that are worth considerably more than the rest. You stand a pretty good chance of finding a few. Then the rest will have a minimal value. Note that the pre 65 silver coins will have value just for the silver content. If you have the time, sorting coins can be quite relaxing and sometimes exciting.
Pillar of the Community
United States
1273 Posts
 Posted 11/10/2014  8:40 pm  Show Profile   Bookmark this reply Add The Silver Searcher to your friends list Get a Link to this Reply
Whatever you do, DO NOT (I repeat, DO NOT) clean any of your coins. That will likely destroy any value apart from precious metal content (if this is present.)

to the forum!
Bedrock of the Community
United States
20551 Posts
 Posted 11/10/2014  9:26 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

To add my 2 CENTS. I'll start with my suggestion is to not listen to anyone just yet. Go on line or to a coin store and purchase something called the Red Book by Whitman Publishing. In it you will see tons of information as to your coins. Their mintage quantity and approximate values. Of course that is one bad thing about that book, the values are sort of excessive.
Once you know what you have, attempt to figure out if your going to be a coin collector or someone that just wants to get rid of all that. If your interested in a coin collection, you may well want to stick around here and just ask, ask, ask.
The more you ask, the more you'll find out what to do and how to do it. That Red Book can only tell you info on what you have, not what to do with it all.
Once you know what you have, and if there are enough Folders or Albums for them all, as I said, it's time to figure out what you want to do with them all.
Remember that the person that left you all that is now gone so what you have is sort of a great rememberance of him. If you don't need the money, become a coin collector and you'll really have some fun right here on this forum.
just carl
Valued Member
New Zealand
72 Posts
 Posted 11/10/2014  9:33 pm  Show Profile   Bookmark this reply Add magpie to your friends list Get a Link to this Reply
one thing of note, what is common in one country is not necessarily so in another. I know a lot of what's available and common in the US isn't so here, I would love to have some of the coins you guys have, I don't even have a Wheat cent, so before offloading all the "common" ones do some investigating, you might get a better deal selling overseas. Don't rush anything and see where it takes you.
Pillar of the Community
United States
2076 Posts
 Posted 11/10/2014  10:54 pm  Show Profile   Bookmark this reply Add OldSkoolMadSkilz to your friends list Get a Link to this Reply

Quote:
I don't even have a Wheat cent


If international postage isn't too much, I can send you a Wheat cent. Were you born during the wheat years?
Pillar of the Community
United States
1215 Posts
 Posted 11/11/2014  10:53 am  Show Profile   Bookmark this reply Add 0xDA71D to your friends list Get a Link to this Reply
Please do not dump your coins. From your description, you may have silver coins that are worth a few dollars each at least.

Do not take less than:

$3 for quarters 1964 and before
$1 for dimes 1964 and before
$6 for half dollars 1964 and before
$2 for half dollars 1965-1970, inclusive.
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