A Coin Dealer's Dream Consignment

Number one is to view the collection yourself to find out it's condition.
If number one is satisfied that the coins are in excellent condition and COULD BE worth what they think they are then I would contact Heritage as they will come out and help with the evaluation of the collection. They can help with TPG as well.
You need to have a written aggreement between you and your friend if nothing other than to protect your friendship.

Before you proceed, view the collection...this will decide if this is a HUGE undertaking on your part.

Next, there needs to be a signed agreement between all FOUR of you, indicating who, what, when, where, and fees involved. A contract...period. Signed by all parties and notarized.

I am not a Lawyer but I can tell you this that even though your friend is the excutor of the estate unless your friend has Power Of Attorney this collection can not be sold without his father signing off on the sale.

Very interesting situation your in. And you are getting some good advice.

I am thinking, that is the late 70's and early 80's silver and gold both went up.
So mabye there is a lot silver and gold coins.

My suggestion would be to sell off all the common stuff first. Like the Roosevelt dimes
and Washington quarters and Wheat cent. the collections I see, the common coins always
seem to make the bulk of the collection.

Selling the common stuff will help fund the proper selling of the rare or key date or high
grade coins, and greatly reduce the amount of coins your working with.

Using the big auction houses will give you the best chance of getting the best prices for your coins.
There are also some big dealers in the country that have deep pocket customers. They can move coins
and get you a good price ... and keep things more private. I can offer name of a good dealer like this.

I do agree with others that the better coins should be sent into PCGS or NGC.

To sum up the steps. (just my suggestion)
- Sell all the common coins first.
- Slab the best coins
- Know the approximate value of all the better coins before selling.
- Take your time selling the good stuff, wait for the right price.

Looking back at the original post, I really didn't realize that the Father was still here. This could end up being a really sticky situation. I mean does the Father know you? Does he trust you? Does he want the coins sold? AND lots of other questions.
I would think you should takd to the Father long before anything else is even started. You may well need something in writing from him and notarized by a notary person. Just one more problem.

Most of the specific advice regarding inventory and how to sell is all very good advice. Also, do make sure the friend does have power of attorney as has already been mentioned.

As far as how to proceed with commissions, any family disputes, what you sell them for, etc.....just do what's right. If you do that, even if you were in honest error at some point, you won't have any moral qualms about it.

Sounds more like a nightmare...

The shear volume could be overwhelming.
I might buy a few choice coins and then point them in the right direction.

Good luck!

Just curious Lobby;
I posted something like this (a lot less value thought. Maybe $50,000.00) and I had people emailing me left and right telling me they would help me sell the collection and split the price.
Has this also happened to you? It sounds like you want to take this task on and help your friend out. I'm just wondering did you get any vulture type emails? (no names please)