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 Replies: 19 / Views: 3,443 |
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New Member
Canada
6 Posts |
Hi Guys,
Member of a few other forums for things I am involved in so thought
hey must be a forum for coins and notes. My father passed and I was
left his collection which has a fair amount of stuff and what I deem are some nice stuff. In Winnipeg are there consultant to help you value or help you sell off certain parts and take a percentage. If you know of anyone with integrity would appreciate a lead. Tried a place on my own and lets say felt insulted and leave it at that. Little envelopes that contained coins were marked with a value which maybe my dad paid for and was being offered 1/20 of it. Would appreciate suggestions as would like to clean up the collection and keep some stuff to pass down.
thanks
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Valued Member
86 Posts |
I can chime in with the fact that I'm a pretty green collector in this field. Picked up my first collection yesterday and hit a homerun because I picked up a reference book and looked up all the bills. It doesn't take up much time and saved me potentially hundreds of dollars because of what I may have missed.
If your interested in selling, I think it will help your cause if you have the proper firepower to back up your values. A dealer does need to make a turn around on what they buy, but being an educated seller will make them level with you by getting the idea out of their head that you have no idea whats in front of you.
Ken
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Pillar of the Community
Canada
933 Posts |
Get the carlton guide as a basic start, it lists all major varieties and coins produced to date (2010). That will help give you a reference for the price. However, just because the book price (trends) says $100....doesn't mean the coin is worth $100 to a collector or dealer. It may be worth MORE, but usually its worth less.
One of the most important things that adds or takes away value from a coin is its grade. The better shape the coin is in, the more its worth. Just because a coin is OLD, doesn't mean it worth more. It all depends on the condition of the coin. (charlton has a decent guide on how to "grade" coins that will again give you a better price range)
one more piece of advice.... DO NOT ATTEMPT TO CLEAN ANY COINS!!!! that will only reduce it to being worth face value or melt value if its made of precious metals.
P.s. Post pictures of what you have and the very knowledgeable people on this forum will help you determine what you can get for your coins, good luck !
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Valued Member
Canada
386 Posts |
I all agree will all the posters about getting independent sources of information such Charlton or Canadian Coin News Trends.
When you get any others from dealers, bear in mind they will offer you a discounted price since they need to make a profit and cover their operating expenses.
For common gold coins you should get a minimum of 90-95% of melt value and for common silver coins at least 80% of melt value.
For other coins the buying prices are considerably less.
A reputable dealer in my neighborhood is offering the following prices for these key dates:
1858 1 cent VG+ $50 (catalog value $75)
1921 5 cents VG+ $3000 (catalog value $5000)
1921 50 cents VG+ $20000 (catalog value $30000)
1923 1 cent VG+ $15 (catalog value $30)
1925 5 cent VG+ $45 (catalog value $90)
Edited by 1945V
07/24/2012 08:31 am
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Moderator
 Canada
10460 Posts |
I would turn this around and ask you, how fast or slow do you want to sell your father's coins? The more time you invest, by getting some books, a good hand lens and figuring out what you have, the more return you should see with your coins. But, for some people (certainly not coin collectors), time is money. There are a couple of decent coin dealers in Winnipeg, but bear in mind coin dealers have to make a living (and a profit). So, even a good dealer will usually pay 40-50% of retail price for good coins, and a decent bullion price for the rest. You will do better selling the "good" coins on ebay, but again, you have to invest the time and effort to do so, and accept the fact that ebay (and PayPal) will take about 15% right off the top. If you don't want to invest the time or effort, but if you are patient, your best opportunity might be in the fall at the Manitoba Coin club Show, held in Winnipeg (November 3-4, Ramada Marlborough Hotel, 331 Smith Street. Winnipeg). There, you will have at least 20 coin dealers who attend the show, and you can bring your collection there to "shop around" for the best offer. My advice, however, echos those above, buy a Charlton Catalogue, a decent 10x hand lens, and have fun exploring your father's collection. Of course, I am biased... as a collector, we are all envious of your scenario... "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Pillar of the Community
Canada
2301 Posts |
anyone who accepts less than 95% of trends for a rare date like the 1921's or any key date gets what they deserve.
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Valued Member
Canada
321 Posts |
Hi there, *** Edited by Staff - Please Review the rules that you agreed to when you registered. *** |
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Pillar of the Community
Canada
2366 Posts |
For Canadian coins you can also check this website for current pricing http://www.coinsandcanada.com/coins-prices.php. Under the Coins menu at the top is a grading section that includes pictures that will help get you in the ballpark. |
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Pillar of the Community
Canada
1700 Posts |
Quote:
Get the carlton guide as a basic start Good Idea. Borrow it from the library to save even more costs. |
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Pillar of the Community
United States
2669 Posts |
Quote:
anyone who accepts less than 95% of trends for a rare date like the 1921's or any key date gets what they deserve. We were all new to this at one time - even you  This is where that good advice of getting a guide comes in - to know which is a key date, or a good variety. Knowledge is where it's at, and the journey there is most of the fun. And  to the forum lostinthepeg! |
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New Member
 Canada
6 Posts |
Thanks guys best I buy a book. Think I will do a bit at a time and go from there. Have over 200 pre 1967 silver dollars so
have to decide whether they are worth more than the melt pricing. Will get a magnifying glass as well so I can judge a bit
better. Found a 20 cent coin from the 1800's which is kind of cool plus a couple shin blasters but too much stuff so best just do one thing at a time.
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Pillar of the Community
Canada
933 Posts |
wow thats a lot of silver dollars, your dad must have had a great collection. My condolences about him passing away, but he left you a great coin legacy. See if you have any 1948 silver dollars, that was the rarest silver dollar ever produced for circulation, worth a lot.
and btw, that 20cent piece from the 1800s can be worth anywhere from $50-$1000 depending on the condition.
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Moderator
Canada
10460 Posts |
...unless that 20-cent piece is from Newfoundland, it could be worth more, or less...
Have fun!!
"Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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New Member
Canada
6 Posts |
Thinking I should do my best to isolate the coins and support the local dealers by taking the good ones and getting
the conditions appraised. Being new I can't tell the conditions and have a hard time telling slight differences. Have
a set of 4 1965 silver dollars encased in hard plastic showing the 4 variations and can't tell lol. Think if I decided
to sell them people buying would appreciate and I would feel better as 1 condition off makes a big difference. Found at
least 12 good ones so might be catching that collectors bug. Then again lots more to go through so may fizzle out yet.
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Valued Member
Canada
321 Posts |
hey there,
Your post above was modified and you were advised to re-read the rules. Repeating the violation has earned you a vacation.
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Valued Member
Canada
111 Posts |
Everybody gives you advice to get books, seek information. I think that is a dangerous path that can bring you to an illness called: coin collecting addiction.
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Replies: 19 / Views: 3,443 |
Posted 07/23/2012 11:01 pm
