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Getting Coins Valued?

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Author Previous TopicReplies: 5 / Views: 1,017Next Topic  
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Ben170292's Avatar
Australia
22 Posts
 Posted 12/12/2012  11:56 pm Show Profile   Bookmark this topic Add Ben170292 to your friends list Get a Link to this Message Number of Subscribers
Hi,
Sorry if I have posted in the wrong area, I was unsure where to put it.

I have about 230 different coins ranging from 1887 to 2011, in circulation and demonetized, I have no clue if any are valuable so I would like to know where I could get them valued In Melbourne, Australia, and how much you think it would cost?

the coin I want to know about the most is my 1920 Australian penny I have heard they can sell for quite a lot.

Thanks, Ben
Pillar of the Community
robster's Avatar
Australia
674 Posts
 Posted 12/13/2012  12:00 am  Show Profile   Bookmark this reply Add robster to your friends list Get a Link to this Reply
Post photos in the Australian Section and you will get some expert advice.!
New Member
Ben170292's Avatar
Australia
22 Posts
 Posted 12/13/2012  12:11 am  Show Profile   Bookmark this reply Add Ben170292 to your friends list Get a Link to this Reply
I was thinking of doing that but I think it is too many, and I dont want to flood the forum
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Sap's Avatar
Australia
16826 Posts
 Posted 12/13/2012  02:15 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
The first thing that needs to be clarified is, "What do you want them valued for?".

If you want to know how much money you would be given if you wanted to sell them right now, then you can walk into pretty much any coin dealer and obtain an appraisal. This is free, but is (a) not going to be very thorough, and (b) going to be considerably below what that coin dealer will hope to eventually sell those same coins for. But if you decide to sell them then and there, the dealer will hand over that amount of money, usually cash on the spot.

If you want them valued for insurance purposes, then you'll need to take them to a dealer who is a member of ANDA - the insurance company probably won't recognize a non-member's valuation. The dealer will meticulously go though every coin and assign a value to each one, but it will take time - and time is money; they will charge an hourly rate for this service. Also, not every dealer has the spare time available to do full valuations like this.

If you simply want to know "how much they are worth" - a catalogue value - then right here on the forum is probably the best place to ask. Or, buy a catalogue yourself; most coin dealers will sell both the "Maccas Guide" (more formally, the Pocket Guide to Australian Coins by Greg Macdonald) and the Renniks catalogue; either of these books would serve our purpose.

The most important factor in valuing a coin is its condition. If you're not sure about coin grading, then post a select few of your coins here in the grading sections of the forum, and you can be given guidance that way.

Quote:
the coin I want to know about the most is my 1920 Australian penny I have heard they can sell for quite a lot.

There are several different types of 1920 penny. Only some types are valuable and explaining exactly what to look to tell the difference between them, without pictures, can be difficult. For this one, it's probably best to post some nice, clear pictures here on the forum.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
New Member
Ben170292's Avatar
Australia
22 Posts
 Posted 12/13/2012  02:37 am  Show Profile   Bookmark this reply Add Ben170292 to your friends list Get a Link to this Reply
Hi,
thanks for the in depth reply, I will have a look for the Maccas book, and start a new topic on the australian coins section for the penny
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jbuck's Avatar
United States
188213 Posts
 Posted 12/13/2012  09:59 am  Show Profile   Bookmark this reply Add jbuck to your friends list Get a Link to this Reply

Quote:
Sorry if I have posted in the wrong area, I was unsure where to put it.
No problem. I have moved it to the Main Forum for more exposure.
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