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Value Of Canadian Pennies And Nickels - Help Please

 
 
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Canada
2 Posts
 Posted 09/10/2019  01:05 am Show Profile   Bookmark this topic Add quadrabc to your friends list Get a Link to this Message
I have discovered a quantity of coins that my father had stashed away.
There are 5 mint sealed bags of 1961 pennies and 1 mint sealed bag of 1963 pennies. One of the 1961 bags has started to rot through at the top so it may not be considered sealed any more.
There are also about 100 rolls of pennies and about 25 rolls of nickels from the same period. You can see the coins at the ends of the rolls on about 1/2 of these rolls.
There is another plastic bag which had hand rolled pennies where the rolls have fallen apart. Most of these coins are quite tarnished. Some are US. Some are King George.
My father is suffering from dementia and cannot remember anything about these coins.
How do I determine if these coins have any value above face value?
I live near Campbell River on Vancouver Island so taking the coins to a dealer in Vancouver would cost me about $200 in ferry fares and gas.
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Canada
985 Posts
 Posted 09/10/2019  02:44 am  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
Welcome and you have come to the right place for good advice. If you can post a few pictures of what you have, picture of bag, side of the rolls, it will tell us a lot more than most words. Depending on if the rolls are original or hand rolled they can be worth more/less. If you can see the ends, they might be unopened rolls (don't open them) and will be worth more than rolls that were done by hand.

1st step: Don't open the bags, they will be worth more unopened. (Post some pictures before opening any rolls)
2nd step: Don't clean anything
3rd step: Don't move the bags around
4th step: Decide what you want to do with them (keep/sell/or some combination)
5th step: Check your expectations

I'm not sure what the going value for an original mint bag of pennies is, but it is probably not huge. If you look at site like http://www.coinsandcanada.com it is easy to get excited, you'll see something like a MS-63 1961 penny listed at $1.75 and think that you have a small fortune on you hands ($1.75 x 6000 coins x 5 bags = ~$50,000), unfortunately that is not realistic or that easy. One of our experienced members indicates that he rarely pays more than $100 per bag for a $60 bag. Basically most coins in the bag will be worth $0.01. And the nice ones that are left can be very difficult and/or time consuming to sell.

Here is another thread you can take a look through.
http://goccf.com/t/247668

Cashing out
1. Taking them to a bank (face value), easy but will realize least amount of money as they only give face
2. Take them to a dealer, they will offer you some % of current market price (they need to make money as well), but it will likely be close to face value, if they even want them (unless there is something interesting in the rolls)
3. Try to sell locally/online (eg. ebay), will get you more, but can be time consuming
4. I think you have to make about 50 posts, but you can try to sell on this site, there is probably someone is your area here that would be interested in all/some of the collection. At least I know I would be, I am in Vancouver and have always wanted to search through a bag or two.

In short, post some picture of what you have, checkout coinsandcanada.com and check back on this forum as you will get some good advice.
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United States
2546 Posts
 Posted 09/10/2019  05:06 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Great advise from purelywasted above. There is also another possibility for selling locally. If Kijiji is active in the Vancouver area, you can make a post on there about what you have. I would only do that after you have a general idea of what dealers in the Vancouver area would buy them for. I would also recommend that, if you do find a buyer via Kijiji, meet somewhere other than your domicile to make the transfer .. there are some dishonest people out there that would like nothing better than to see the inside of a house that has lots of coins in it.
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Canada
2 Posts
 Posted 09/10/2019  2:32 pm  Show Profile   Bookmark this reply Add quadrabc to your friends list Get a Link to this Reply
Thank you purelywasted and okiecoiner for your thoughtful replies. I read the links. The information was very helpful.
Here is a photo of one of the 1961 bags.



Per my bathroom scale each bag weighs 14 lbs. Based on 3.24 grams each, I calculate that to be about 2000 coins per bag.
Four of the bags have "113 61 3" printed on them. One has "113 61 4" and one has "517 63 3" printed on it. Does this mean anything to anyone?

I pulled 1 coin from the bag that the seal has broken on. Here are photos of it.




Given that I have about $250 in coins and it will cost me $200 in gas and ferry fares to get them to a dealer in Vancouver, I think that I am going to take the coins to a bank for face value.
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Canada
1295 Posts
 Posted 09/10/2019  3:19 pm  Show Profile   Bookmark this reply Add Alan to your friends list Get a Link to this Reply
Taking back to bank is prob best bet imo, You may wish to sort through them and look for errors, or try to sell them locally to collectors but time involved may be worth much more than the few extra bucks you'll make
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Canada
8560 Posts
 Posted 09/10/2019  3:38 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
The 1961 bags will be smaller than the usual mint bags of 1-cent coins. The mint would put three bags of $20 face each, into a larger bag. It looks like you have the $20 bags (roughly 7 kg per bag).

I usually buy mint bags and donate BU rolls to coin clubs and CCF young numismatists - I will send you a message.
"Research is what I am doing, when I don't know what I am doing" --Wernher von Braun

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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Canada
8560 Posts
 Posted 09/10/2019  3:40 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply
Also, welcome to CCF!! You live not far from my favourite Canadian distillery - Shelter Point.
"Research is what I am doing, when I don't know what I am doing" --Wernher von Braun

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

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United States
567 Posts
 Posted 09/10/2019  4:33 pm  Show Profile   Bookmark this reply Add joecoin to your friends list Get a Link to this Reply
Why not wait until you have to go to Vancouver? Or will that never happen?
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Bedrock of the Community
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Canada
10174 Posts
 Posted 09/12/2019  9:48 pm  Show Profile   Bookmark this reply Add Dorado to your friends list Get a Link to this Reply
To the Forum.
Valued Member
Canada
103 Posts
 Posted 09/12/2019  9:59 pm  Show Profile   Bookmark this reply Add CalmBud to your friends list Get a Link to this Reply
welcome!
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