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 Replies: 24 / Views: 4,838 |
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Valued Member
United States
126 Posts |
I've introduced myself before but allow me to recap; I inherited a coin collection from my grandfather around two years ago, yet only in the past six months have I started getting into the hobby. It was nothing special, aside from a world coins from his travels, it was primarily U.S. circulation coins. When I received the collection it was housed in 70 year old deteriorating Whitman folders and stuffed into a stained,beat up old gym bag. My first step was familiarizing myself with the hobby, and then slowly transferring the basics (1,5,10,25 cents) over to new folders, and then all to Dansco Albums, adding what I could from searching rolls. Next I've started working on the Kennedy halves, as well as Buffalo nickels. This leaves me with Indian Heads cents, Mercury dimes, Liberty Standing halves, Franklin halves, as well as a handful of Morgan and Peace dollars. My concern is the coins look to be in such rough condition that I'm not sure there worth any more than melt. I however do not want to sell them for melt. I'm hoping that if I post up a couple of good pictures I can get some advice. Sorry for the long rambling post. |
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Pillar of the Community
United States
2295 Posts |
Yes, please post some pictures.
Most likely, if they are common coins and they are low grades (badly beat up, heavily worn), then they are just worth melt, if silver. If clad or copper, then they are just worth face or near face.
If you don't want to sell them for melt, then what do you want to do with them?
There might be some key dates in there, so you want to check for that. If they are pretty well circulated, it is tough to check them for varieties/errors.
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Valued Member
 United States
126 Posts |
I was going to check for key dates but after that I figured maybe I'd sell a few for melt and use that towards filling some missing holes in albums... I'll get pics up asap. I know not to clean them but I figured one was just so ugly and just a franklin that I just wiped away some of the grime and it seemed to help. I know that isn't something you would normally do to a coin but once you see pics you'll understand.
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Valued Member
United States
126 Posts |
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Rest in Peace
 United States
1380 Posts |
Heck, those look as good as the ones in my collection.
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Rest in Peace
United States
1380 Posts |
Do you want to keep the collections for their potential value, because they came from your grndfather (part of why I keep mine), or from a compulsion to have perfect specimens of each coin, or some other reason? Ask yourself this, figure out your collecting goal and then look at your coins in that light. I don't plan to sell my coins, so for me they are not an investment whose up to date value I particularly care about. I like collecting, and they connect me vicariously to my Father and Grandfather. Rather than pristine coins, I like coins with at least some wear so I can imagine how they were used over their lifetime. To me, your coins are wonderful.
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Valued Member
United States
134 Posts |
I am in a similar situation. My plan is to keep the coins that my grandfather placed in the folders but use the duplicates to try to fill the holes. Your grandfather sounds like he collected the same way as mine as it appears nothing was every bought. I figure by using his extra coins to finish the books then I'm not actually buying but I'm trading.
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Moderator
 United States
188325 Posts |
Quote:
My concern is the coins look to be in such rough condition that I'm not sure there worth any more than melt. They were your grandfather's. In my opinion, they will always be worth more than you could sell them for, regardless of condition. Quote:
Just grabbed the closest folder to me and took some quick phone shots just as an idea of the neglect. All things considered, I expected them to look a lot worse. If I were in your situation, I would keep them; but this is entirely up to you. Just remember, if you sell or trade them, you may never get them back. I am sure others will disagree. You are free to disagree as well. I admit that I am a sentimental fool most of the time, so take my opinion for what it is worth.  |
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Valued Member
United States
97 Posts |
Strangely, I have similar feelings toward my coins as jgfindring. Still have my original cent collection (1941-1961-D) that I have strong feelings about - change from my paper route and all that in the early 1960s. Have a collectible cent collection that's nice (1909 to date and missing the big five; unc and bu from 1941). It doesn't engender the same feeling. Then there are coins from my grandfather - Indian Head cents, Three Cent pieces, liberty Seated dimes, Shield nickels. These are very dear to me. Save granddad's coins. They will mean more as time goes by. I am hopeful one of my young nephews or my only niece someday show an interest in coins. I so hope to pass on what I have collected to them. |
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Valued Member
United States
325 Posts |
I'm with JBuck on this, sentimental fool that I'll always be.
Even the common coins that are in those albums aren't being made anymore, and they'll never be made again.
The link to the past in this day is something to hold onto.
Now, if you have some real killed coins, there's nothing wrong with melt value + to buy upgraded models.
This hobby is facinating, I have a feeling you're finding that out.
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Valued Member
United States
126 Posts |
I'm looking at it in a couple of different ways. I was never really close with my grandfather so while the coins themselves aren't super sentimental to me, I'm finding the hobby itself to be what connects me to him, which is why the idea of "trading" some less ideal coins towards another addition to the collection appeals to me.
I have no plans to sell the collection now or in the future, however I would like to know that I've done everything possible to allow it to appreciate in value.
The question remains really what should I do with the coins that I do want to keep. They are so dirty that I don't want them contaminating all the hard work I've done.
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Pillar of the Community
United States
3283 Posts |
You could soak them in acetone to see if that would improve their appearence,
it doesn't harm surfaces. Other than that your very fortunate to have them.
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Valued Member
United States
126 Posts |
Thanks upstate, any particular brand/concentration?
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Bedrock of the Community
United States
20753 Posts |
Quote:
They were your grandfather's. In my opinion, they will always be worth more than you could sell them for, regardless of condition.
And that is exactly how I feel about inheritances. You get them for free, they are a reminder of someone and if given to you, someone who thought you were special. Myself being a gradfather, I sure would hope whoever gets my coins thinks enough of me to keep them. You should try to get them all out of Folders and place in Albums too. Folders are not the greatest place for coins. |
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Pillar of the Community
United States
666 Posts |
I have a feeling that the coins may be in better shape then you think. The black patina that's on the coins that you pictured is a type of toning that's very common with silver stored in old Whitman folders. This toning does not affect the grade of the coin (to much extent in circulated examples).
That said the folder you just randomly picked up isn't the one that I'd want to have better pictures of. In general the older the coins the more chance there is at something special being in the group.
The pics from your phone don't have enough detail for me to be able to gauge what you've got. For an initial assessment you don't have to go to great extremes in your pics. We'll be able to get a rough idea (basic category grade not numeric value) from scanned pics of the coins in the folders. The larger the pic size the better. If there's something that MIGHT be special you could then go back in and take better pics of the individual coin.
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Valued Member
United States
126 Posts |
I feel like I may of come off really poorly in this post. I do not plan on selling/getting rid of my grandfathers collection, however there are some coins saved, that I would of just been circulation finds that nowadays would just be sold for melt. My thought was to use some of those, as well as some of the triplicates to invest in the collection as a whole. From new coins to proper storage.
Hopefully I didn't come across as some young kid who is just looking to earn some quick cash.
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Replies: 24 / Views: 4,838 |
Posted 01/09/2012 2:40 pm
