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How To Store? What To Grade? What To Keep?

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New Member

Canada
10 Posts
 Posted 11/13/2013  6:56 pm Show Profile   Bookmark this topic Add Cedrik to your friends list Get a Link to this Message Number of Subscribers
Hi!
I'm a newbie in the wonderful world of coin collection. We found my grandma's old coin collection and I started looking around to try and understand the value of it and I found that it wouldn't be that easy to do.
It consists of mostly Canadian coins of 1910's to 1970's. There are a few American coins and a handful of foreign ones.
First question:
- Should I keep everything? There are a few coins that are obviously not worth more than the actual currency, things like 1970's quarters and 1980's pennies. But there are some not-so-valuable 1930's and 1940's pennies in there as well. Should I store them and keep them or chuck them in a CoinStar machine?
- How should I store the collection? Coin boxes? Vinyl separators for binders? Can the vinyl damage the coins at all? Do I need to use the appropriate cardboard cases for each individual coin as well? There's probably well over 3000 coins in that collection. Any suggestions?
- Should I go to a professional to get everything graded? How much would that cost me? Can I do it myself?
- Should I go to a professional to get everything appraised? How does that work?

Thank you for your help! I've been trying to sort them all but I'm starting to feel like I'm doing it all wrong!
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zxcccxz's Avatar
Canada
5417 Posts
 Posted 11/13/2013  7:07 pm  Show Profile   Bookmark this reply Add zxcccxz to your friends list Get a Link to this Reply
Get rid of all the quarters worth face but definitely keep all the wheaties.
New Member
Canada
10 Posts
 Posted 11/13/2013  7:25 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
?
How-To-Store?-What-To-Grade?-What-To-Keep?
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lyradnoj's Avatar
Canada
548 Posts
 Posted 11/13/2013  8:33 pm  Show Profile   Bookmark this reply Add lyradnoj to your friends list Get a Link to this Reply
Go to the local library and get the most recent copy of Charlton's Standard Catalogue of Canadian Coins you can find. Sort your coins, as carefully as you can to avoid scratches, and then go through the book to get an idea of what you have. Who knows, you might get lucky.
Rest in Peace
Buddy's Avatar
United States
7075 Posts
 Posted 11/13/2013  9:03 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply


DO NOT CLEAN THE COINS as that will greatly reduce their value.

As for storing them, stay away from vinyl The best methods are not without some cost and so....my advice, just organize the coins by value and then by year. You can keep them from getting scratched by using towels. I usually sort coins on a towel and fold them into small towels or wash cloths.

Then, one by one, look them up. For US coins there is Photograde online -- I would expect that there is something similar for Canadian coins. Don't worry about the exact grade just yet. But learn the difference between Good through About Uncirculated.

Along the way you'll learn about die varieties and errors.

Getting them appraised could cost more than the collection is worth and you might find that you enjoy searching through them. If you do, you should get a loupe to get a real good look at them.

Then you can put the keepers in 2X2's or Saflips and those can go into coin boxes or maybe you'd prefer albums.

Just take your time. Even if you decide you have no interest in coins, you may want to keep some to pass down to future generations. Coins make nice, small keepsakes.

Good luck and happy hunting. Hope you find some goodies.

New Member
Canada
10 Posts
 Posted 11/13/2013  10:09 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
Between towels, you say? But where do you store the towels, afterwards? Can you explain your system?
Why do you recommend to stay away from vinyl? Is there a possibility that the vinyl would damage the coins?
The coins have been stored in envelopes, rubbing and hitting each other along the way for a long time, now, which is a shame.
Thanks again for your help!
Rest in Peace
Buddy's Avatar
United States
7075 Posts
 Posted 11/13/2013  11:46 pm  Show Profile   Bookmark this reply Add Buddy to your friends list Get a Link to this Reply
Well, I when I have a jar of coins to go through I lay them out on a bath towel -- from that point on the dining room table is MINE. LOL Then I sort them and sort of roll them into little towels and stick those into shoe boxes. So I might have all the dimes from the 1950's in one little roll. Then when I go to look up values and varieties, I am only focusing on one area at a time.


Vinyl can destroy silver -- not sure what it does to copper.

You write that the coins have been in envelopes. Do you mean BIG envelopes or are they sorted into little coin envelopes?

I wouldn't fret too much about how much they have been jostled about because if your grandmother didn't have the coins in coin boxes or coin albums then she was most likely just pulling coins from circulation and they would have some degree of wear or damage already. It's just that you don't want to drop them into a jar then pour them out repeatedly while you're figuring out what you have.

I've only really pursued this hobby for the last few years but for the forty years before that, I would pull stuff out of circulation -- anything older than me, anything silver, anything foreign -- and I had coins all over the place -- jewelry boxes, pill bottles, jelly jars. Most of what I set aside during those years has a very small premium value and I doubt that they would be worth a lot more had I stored them properly because they were all circulated coins when I got them. There are a few exceptions to that but even those are basically only worth silver melt value.

I just think it's great fun to sort through them and search for varieties and errors.

Hope that helps.
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kuh_85's Avatar
Canada
2366 Posts
 Posted 11/14/2013  11:19 am  Show Profile   Bookmark this reply Add kuh_85 to your friends list Get a Link to this Reply
Some useful sites for reference. The more time you put in yourself the more of the value you will retain for yourself. If you find you enjoy this then don't get rid of anything until you fully understand what you have, what you like and what you want to collect yourself. You'll need a microscope (USB or optical) and/or a good loupe for checking varieties. See if there's a coin club in your area you can join. Post some pictures in the "Canadian Variety and Error Coins, Bank Notes, Paper Money" section of the forum to double check your grading while you're getting started. Wear cotton gloves while handling the coins or at least only handle them by the edges. Don't rub them with a cloth or anything. Professional grading can be expensive so you don't want to pay for it for coins that aren't worth it. For example, I think I saw in another thread that ICCS is currently charging $50 for a single coin immediately graded on walk in and about $6.50 per coin if you send in 100 or more. They don't have a website or anything. CCCS is the other major Canadian grading company http://www.canadiancoincertificatio...p?c=17&lg=1. Professional grading is most useful a) if you intend to sell the coins through ebay etc where your buyers can't actually see the coin in person; and b) to confirm your bragging rights :-).
http://www.coinsandcanada.com/coins-prices.php
http://www.coinsandcanada.com/coins-grading.php
http://www.bestcoin.com/united-stat...ng-guide.htm
http://www.ngccoin.com/poplookup/Wo...e-Guide.aspx
http://en.numista.com/catalogue/index.php
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persistnt's Avatar
Canada
726 Posts
 Posted 11/14/2013  6:25 pm  Show Profile   Bookmark this reply Add persistnt to your friends list Get a Link to this Reply
In saskatoon here we were lucky in that the coin club would pay for each member to get one coin per year proffessionally graded.....They stopped it now as too expensive. When we did a requirement was that the coin be worth at least 15.oo,, which was at that time the cost of Certification........The first year I went through my collection and I had no coins worth 15.oo,,, believe ti or not,, It stil takes a little something for a coin to be saleable at 15.oo ........I buy lots of coins for say 5 to 8.oo each. Hope this will help yu a little as to whether or not to Certify...Personally I do not. I do hav say 10 Certified 50 cent Pieces,, that denomination being the highest number of Cert...say 8 25c Cert coins,,,etc....in my current collection....I guess that means I will buy an already Cert. coin....Ha Ha....
New Member
Canada
10 Posts
 Posted 11/15/2013  1:01 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
Another question:
How close is this site - http://www.coinsandcanada.com/coins-prices.php - to the Carlton Standard Catalogue of Canadian Coins?
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kuh_85's Avatar
Canada
2366 Posts
 Posted 11/15/2013  5:16 pm  Show Profile   Bookmark this reply Add kuh_85 to your friends list Get a Link to this Reply
C&C.com identifies more varieties that Charlton does. Charlton is considered more authoritative than C&C.com. So you'll hear about 'canonized' varieties (which are the ones that make it into Charlton) and so forth. Prices are comparable but keep in mind that there is no definitive price list for coins. Charlton is one guide, C&C.com is another, Trends is another, ebay completed listings search is another, etc. They all use various sources and update schedules. If you get a bunch of sources agreeing on a price then it's probably a more reliable estimate then when they're all over the map. Very rough guideline these days if you were to sell a coin to a collector (unless it's a particularly rare year/variety) is 40-60% of list price for a raw coin and maybe as high as 70-80% for a TPG'd coin. Selling it to a dealer would be <=50%.
New Member
Canada
10 Posts
 Posted 11/15/2013  6:22 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
Ok.
However, if C&C says that my penny is worth 2 cents, can I safely assume that it's not gonna be worth more than face value within the next 100 years?
New Member
Canada
10 Posts
 Posted 11/15/2013  7:37 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
What I'm trying to ask is...
http://www.coinsandcanada.com/coins...ts-1953-2013
In this chart, 1963 dimes lower than F-12 are not worth keeping.
I'm wondering if that's also true in all the other books and charts.
Is it even remotely possible that Charlton would say otherwise? Would it be possible that they'd suddenly have an unexpected value?
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persistnt's Avatar
Canada
726 Posts
 Posted 11/15/2013  8:19 pm  Show Profile   Bookmark this reply Add persistnt to your friends list Get a Link to this Reply
The C Catalogue as others has similararities with each coin....AS yu get close to todays year then the coin has to be in better shape....very modern year like 1990,,coins have to pretty much MS.......1950's say EF-40............1930's say F12 is worth money.......Now Silver content gets involved and Collector coin vs Decimal coin. Can make a difference...and Varieties of course... A short version of what I am saying is that same coin - but older is worth it to save,_ If newer then it has to be better grade...(To be worth same money)....Therfor in 15 years from now,, the situation will be same--Which means that now the 1950's can be VF instead of EF....Do I hav everyone totally confused yet....Bye...
Edited by persistnt
11/15/2013 8:20 pm
New Member
Canada
10 Posts
 Posted 11/15/2013  8:41 pm  Show Profile   Bookmark this reply Add Cedrik to your friends list Get a Link to this Reply
Yeah, I got that part. But I'm wondering about Charlton vs C&C.
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kuh_85's Avatar
Canada
2366 Posts
 Posted 11/16/2013  5:15 pm  Show Profile   Bookmark this reply Add kuh_85 to your friends list Get a Link to this Reply
IMHO C&C prices are, in general, more up to date and realistic than Charlton. Charlton only goes to press once a year and the prices are 'fixed' maybe six months before that to get through the publishing process.

Yes, if C&C says your penny is worth 2 cents then face value is realistic.

Your 1963 dime would be valued based on its bullion silver value instead of its numismatic value at that low a grade. Dimes from 1920-1966 & about half of the 1967s are 80% silver by weight so have an ASW (Actual Silver Weight) of 0.0690 troy oz. At a value of $21/oz for silver that would make the coin worth about $1.45.
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