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 Replies: 33 / Views: 5,323 |
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Valued Member
United States
82 Posts |
The story: (Yes, I know a little about coins, but I haven't been a collector) My dad passed on a few weeks ago and now we are cleaning house. Under the stove, my brother found a tin can the size of a larger tomato can - sealed, with old Sears-type ads plastered on it. It was heavy and had something solid in it that moved when shaken. My brother cut the lid off (still don't know why he didn't use a can opener) and inside we found silver coins: halves ($80), quarters ($40) and dimes ($15), all neatly rolled. My folks were stock-piling silver back in the 60's and 70's and apparently made a 'time-capsule' or just wanted a safe place to stash some - who knows. The some rolls are marked with the name of a local coin dealer (no longer in business) and most are just bullion type (there are a lot of Walking Liberty halves - just fair to good condition, I would guess). No 'rare' coins, however, maybe 10% are uncirculated, including Franklin & Kennedy, Roosevelt and Washingtons from the 60's, and a few into the 50's. Opinions, please! Would it be worth it to piece those out and, if so, what is the best way to get a realistic idea of value - a pricing that is fair to us and fair to the buyer in - a real world (Hey, I can dream) OR just sell as bullion OR well, heck, I don't know what to do with them. |
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Pillar of the Community
United States
602 Posts |
Do NOT sell them for just spot prices (for they are low).
Can we get pictures of the coins, if at all possible.
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Pillar of the Community
United States
1795 Posts |
Chris unless you need the money keep them cause the price of silver is low. Not sure of your ages and not sure if you have children you would like to pass it on too. Those two areas raise a lot of questions such as the kids won't take time to sell them and just spend them and the other is how long you expect to live? I've had silver I've saved since the 60's at face value and didn't sell them when the price of silver was high and still have them. So unless you need the money I would suggest that you keep them. Consider it as silver in you retirement portfolio. Good luck in whatever decision you make.
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Valued Member
 United States
82 Posts |
One coin at a time? How many coins?   |
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Pillar of the Community
United States
1795 Posts |
Well for starts that would be a keeper!
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Valued Member
United States
82 Posts |
BadToTheBone - Thank you. No kids, just 2 siblings - all of us above 50. Money isn't an issue for me, and not critical for the other two, either. The main consideration (problem) is that there is so much 'stuff' in the estate and I'm the executrix. Dad was a collector, but mainly of the esoteric, odd and/or out-of-the-ordinary. It took 5 years just to sell off his collection of 600+ edged weapons! Thank you (and you, too, YoshiRules) for the advice about not selling for spot.
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Bedrock of the Community
United States
11951 Posts |
The coins you are talking about are traded everyday at coins shops,
as bullion.
Right now, with today's silver price they are buying in the 12X face range
and selling in the 15X face range..
I would think a starting point for your $135 face silver would be $1620,
that would be if selling to a coin shop.
If you found someone who wanted to buy silver, then the 15X face would be
a better start price, at $2025.
Edited by GR58
09/18/2014 10:54 am
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Valued Member
United States
82 Posts |
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Valued Member
United States
82 Posts |
GR58 - Thank you. I was wondering what the ranges might be. The main question I had was whether the uncirculated coins would make it worth pulling them for a collector's market.
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Pillar of the Community
United States
2850 Posts |
Yes, the uncirculated coins should sell way better in the collector's market. I would definitely pull the better pieces aside.
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Bedrock of the Community
United States
20753 Posts |
You should first look into what you have. At times people think they have just STUFF. Some coins are rare and people don't know. Take your time and look up each coin. As a start use Numismedia web site or go to a hobby or coin store and purchase a copy of the Red Book. Just remember that the prices shown in the Red Book are excessive and are what most people would say just overly done. Yet it's a great book for information. You could have a variety or error coin worth a lot more than just Silver prices. |
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Valued Member
United States
82 Posts |
WheatBack - Thank you for the input - that was sort of my inclination. It isn't that I don't have the time. Often before starting on something, it can feel daunting and a little encouragement - or nudge in a certain direction - can be very helpful. just carl - Thank you for the suggestion about the Red Book. A logical next step. It is quite true about looking at 'stuff'. It really isn't just that and one never knows what one will find. |
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Valued Member
United States
82 Posts |
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Pillar of the Community
United States
1158 Posts |
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Valued Member
United States
82 Posts |
tkbslc - Thank you for the suggestion. I haven't been thinking about the older pieces - the others are so nice and shiney  - since they show so much wear on some but I will check out the Mercury and walkers. There is only 1 Standing Liberty quarter and the date is too worn to make out. I do appreciate the heads-up. |
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Bedrock of the Community
United States
19930 Posts |
As others said, make sure you don't have any key dates or other important coins. The coins in mint state will command a premium in the collectors market.
Once you pulled any good dates/mints and mint state coins, the rest will basically sell at melt. GOOD LUCK!
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Replies: 33 / Views: 5,323 |
Posted 09/18/2014 10:19 am
