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 Replies: 11 / Views: 1,157 |
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New Member
United States
3 Posts |
Hi, I need advise. I inherited a larger number of coins recently. The coins are mostly US pennies nickels, dimes. I received them upon the passing of an uncle who apparently had a habit of tossing pocket change in a drawer. He must have of done this for about 60 years as the coins fill six of eight large drawers in a dresser. The coins are in the drawers randomly with some sorting by date—sort of like when one drawer filled up he used another. Some date back to 1902, and I'm guessing before. A few are Indian heads. It appears from some papers stored with the coins that he had plans of sorting/cataloging and organizing a collections. Obviously he never got around to it. There are a lot of coins. I am looking for advise or thoughts on the best way to determine the value of this "collection". I am not much of a coin collector. My eyesight isn't the greatest and I do not want to look at each coin (penny) to even separate the older ones (1902 and before) from the newer ones (1997), if there is a way I can avoid doing so? Is there any general guidance of when a penny becomes worth more than a penny. Same question for nickels and dimes? What would be the best way to sell the collection? Thanks in advance for your info and advise. Lou |
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Pillar of the Community
United States
7123 Posts |
Hi Lou Welcome to the forum !
If it was me I would sort them by denomination and then by date within each denomination .
once you have them sorted by denomination and date then maybe we can help you figure out what you have that deserves a second look for grade and value .
Metalman
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Pillar of the Community
United States
4085 Posts |
Hi Lou - There's no easy way to categorize everything - you might have an extremely valuable coin in there or you might not - you just never know. Some general guidelines - pennies before 1959 (wheat pennies - they have the wheat grains on the back instead of the Lincoln memorial) are collected frequently and have some value greater than a penny. Nickels - don't know much about Jefferson nickels although my guess is that late 50's on back have some value greater than a nickel. Dimes 1964 and before are made of 90% silver and at current silver prices are worth a little more than a buck apiece just for the silver value - and maybe more. You could sell these off in bulk, but I will warn you, someone buying in bulk will offer lower value in the hope they can go through and find a "key date" coin - a coin minted in lesser quantities. For example, if you have a 1916-D (Mercury) dime in there - it's worth $2,000-4,000 in nice condition (condition matters a lot). If you had this same dime in shiny, original barely used condition, it'd be worth $8,000+. So, you've either got to go through them or sell and hope you are not leaving a buncha money on the table. Do you have a grandson/granddaughter who perhaps might enjoy organizing them for you for some cash? Then you could post what you have here (i.e., I have 4 1916 dimes) and people here would likely help you examine certain coins further (i.e., this 1916 dime - has it got a "D" on it? can you see the bands on the back clearly, etc.). Hope this is helpful! Ken |
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New Member
 United States
3 Posts |
Thanks for the reply Metalman.
I pretty much have them sorted by demonination and by 10 year groups. Most are pennies and nickels. The latter drawers are more of a mixture but I'm thinking I can't count to much on that method. For example, in what appears to be the last drawer I found a couple of old indian head nickels.
And I guess I was woundering whether there were machines that sorted within a denomination by weight, color and/or sprays or solvents that would make ID of year based on chemical content easier?
Lou
Lou
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New Member
United States
3 Posts |
Ken,
Thank you for the very helpful post. Your post is exactly the type of info I was hoping to get.
Unfortunately, the grandchildren are still too young. But I have considered splitting the "collection" and gifting it to them for college. Maybe the chance to fund their children's college education may stimulate their parents to help sort the coins
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Pillar of the Community
United States
7123 Posts |
No Chemicals ! there are machines that count the coins ,,but none that I know of except the little personal change banks that will seperate them by denomination . Buffalo nickels are exactly the same as the jeffersons for metal content and weight ,,but they vary greatly in value based on date and condition . Im afraid that the only way to know what you have numismatically is to sort the coins by hand into denominations and then by decade and then start to research each to determine value based on date and condition . Metalman |
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Pillar of the Community
United States
2589 Posts |
any dime, quarter, half dollar, or dollar coin from before 1964 will definately be worth more than face value, the same goes for any Indian Head penny, Buffalo nickel or earlier type. As for selling them, you can go to a coin dealer for any of the above and they will usually give you at least something, ebay is also a good place to sell coins. If your able to post the dates of the coins I listed above it would be easier to determine their value and if you have any that are worth a substantial sum |
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Pillar of the Community
United States
1934 Posts |
I'm gasping again. Lou, I hope you take the time to sort out your coins. I suggest you start with your cents first as theyre not nearly the same color as any other denomination. Then, as someone suggested, separate out the 1909 - 1958 Wheat Cents (wheat grains on the reverse side) from the 1959 - date Memorial cents. Keep your eye on the lookout for a 1959-D with Wheat on the back, too. Once you've sorted out all the Wheats from the rest, make an inventory of the Wheat cents from 1909 - 1939. Here is a link that has some helpful information and identifies some of the KEY dates one can hope to find in such a potential treasure trove as you've got. http://www.Deleted17/Info/Collectin...olnCents.htmIf it looks like a lot of your coins (or you discover that a lot of your Wheat cents) have some brilliance, I suggest getting a pair of thin cotton gloves with which to handle the coins. Thing about cents is this: a lot of people collect them and there are numerous highly sought after key date and varieties. Jim |
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Pillar of the Community
United States
549 Posts |
The link Jim posted isn't working, so here's one that is. If you do nothing else, check your wheats for (1) the "key dates" listed on this site and (2) for obvious doubling on 1955 pennies. There are some other good finds out there with pennies, but if you aren't looking to put in a huge amount of effort, the key dates and the 1955 doubled die are the biggies. http://www.lincolncentresource.com/index.htmlI would also recommend sorting out all of the pennies first, since they are easiest to sort and probably the bulk of the change. Once you get through them, then start on another denomination. |
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Bedrock of the Community
United States
20753 Posts |
For one thing you should attempt to purchase a book calle the Red Book on coins. It is published by Whitman Publishing. It is usually available at coin stores, hobby stores, coin shows, etc. I've found the Walmart web site for books has the lowest prices. Attempt to find a coin store for additional books or magazines with coin information. Next do as already noted by separating all the coins by denominatioins, then dates. Once you have a Red Book you will find out about Mint marks and then you can separate the coins further by that. Hopefully you have some time since some coins could be valuable but not apparently by date or mint mark. For those you would really need the Red Book or other coin information documents. For example a cent dated 1972 and appears like you've been drinking to much, blurry, could be the famous 1972 Lincoln Cent double die. In the hundreds for even the worst one. Once you've sorted out you coins you may want to question people here as to some of the coins you are not certain of. Now here is great web site for pennies. www.coppercoins.com. Same guy has two books on them. If you can attempt to find out about any coin shows in your area. Go there if possible, not to buy, but to learn what you may or may not have. Do not clean any coins, do not bang them together, do not run them through any counting or sorting machines. Good luck and WELCOME TO THE FORUM. |
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Member
United States
3242 Posts |
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Pillar of the Community
United States
1424 Posts |
if there are enough pennies to justify the cost you could use a Ryedale penny sorter (around $350) it will seperate the copper cents from the modern zinc cents. Three are still problems with that method because you would still have to seperate the 1959-1982 copper cents from the wheaties.....
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Replies: 11 / Views: 1,157 |
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Posted 02/04/2008 1:02 pm
