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How To Settle Estate Gold Coin Collection

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New Member

United States
4 Posts
 Posted 08/16/2008  11:44 am Show Profile   Bookmark this topic Add TimW to your friends list Get a Link to this Message Number of Subscribers
This is an interesting forum, so I thought I would pose a question.

I'm the trustee of an estate with a fairly sizeable collection of gold coins (about 100 total), including seven S. Gaudens Double Eagles and 15 Liberty Coronet Double Eagles.

I've checked the coins against a list in a coin magazine and don't think there are any extremely rare ones. While they are in plastic holders now, they were I think kept in a flannel bag for some 50 years and were originally bought for bullion purposes. None of them are certainly mint state, but at least probably VF-20 if I read it right (and I'm no expert). They don't seem extremely worn.

How would you go about finding the value of these coins, and selling them, and to do so in a way that won't get the various sides of the family mad at me? I'm reluctant to send them through the mail and live in far northern New York on the Canadian border.

Thanks much Tim
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1sikevo's Avatar
United States
1130 Posts
 Posted 08/16/2008  11:59 am  Show Profile   Bookmark this reply Add 1sikevo to your friends list Get a Link to this Reply

If you have time, please list date and minmark of each coin so we can check for rarity.

Common date gold coins in VF-XF are worth about the spot gold content and can vary from minute to minute.

Gold closed at 786.00 last Friday and there is about slighty less than .96 OZ of pure gold per coin since they are circulated and have lost some gold during normal wear.

Gold value - 786 x .90(est) = 707.40 each.

Dealers typically take 2% profit from bullion buys, so your final take is about $693.00 per coin at today's prices. As you know, gold is highly volatile and can change $30-40 per day.

Hope this helps.
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snowman's Avatar
United States
1840 Posts
 Posted 08/16/2008  12:25 pm  Show Profile   Bookmark this reply Add snowman to your friends list Get a Link to this Reply
Establish the values by purchasing a RedBook:
http://www.amazon.com/Whitman-Harri...03784&sr=8-3
Draw lots and take turns choosing coins. That is assuming everyone can behave in a civil manor.
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jfransch's Avatar
United States
1801 Posts
 Posted 08/16/2008  1:20 pm  Show Profile   Bookmark this reply Add jfransch to your friends list Get a Link to this Reply
I have to agree with Snowman, don't try to sell the coins yourself, just establish a list of what you have and what the value appears to be and then let the various heirs pick or draw lots. I personally wouldn't use RedBook values becasue you'll give the heirs an inflated value of what they might get for the coins. Look up a local coin club and take them to a meeting. You can probably get 2 or 3 members to make you offers and establish values. Then let the fun begin. Wow, 100 gold coins to divide up, you get all the fun!
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