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 Replies: 39 / Views: 2,967 |
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Pillar of the Community
United States
533 Posts |
I don't know how far you are from KC, but this Sunday (Mar 2nd) there is going to be a coin show at the Sheraton Hotel at I-70 and Blue Ridge Cutoff, over by The K, and Arrowhead. It can be a little hit or miss, anywhere from 25-50 dealers. But it might be good to go ask some questions, and see some prices. It starts pretty early and usually vendors are packed up by early afternoon.
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Valued Member
United States
82 Posts |
It looks like you have some SERIOUS BIG MONEY coins on your hands. I am still considered a newbie, but I would think a collection as strong as the one you are describing could be more efficiently sold by a consignment company like Heritage or Stacks or someone like that. They would just take a percentage off the selling price. I would be scared to death I was getting ripped off if I tried to sell these myself even with my somewhat limited knowledge.
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Pillar of the Community
United States
2254 Posts |
Morgan Noob brings up a good idea. However, I will expand upon it a little. DO NOT take any coins with you to this show. Write down what you have, dates, mintmarks, denominations, and see what ohers are selling for. You should be able to get a rough idea of condition compared to what you have, to get in the general price range. Of course, this will be for coins with some wear. If most are uncirculated, then getting the correct grade is kind of key. Some series have very large price increases between MS grades. This is only my opinion of course, but I would not take any coins with me. I would look and price things first. If you're not close to KC, then it's a moot point anyway. Post some pictures here, even if they're not perfect, and we can start asking for close-ups of coins that may be "more valuable" than others. Folks here would love to help you start sorting things out. As a first pass, post some dates and mintmarks of the Trade, Morgan, and Peace dollars. Alao the gold coins. Pretty much anything pre 1921 will get people excited around here.... Best overall advice, take your time if at all possible. Welcome to the forum!! |
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Valued Member
United States
294 Posts |
Agree with the others first you need to do is sort through this collection .Like if he has books of coins get them all together if he has jars ,cans or something like that and put this in order Like all quarters together, Dimes and so on .Also put all coins you can can ID. in the back and ones that look funny in front The funny looking ones will probably be the older more valuable coins and there may be some foreign ones also .This may it easy for you to start going through them to ID. and inventory them . Seeking: hope this helps Rainman  |
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Valued Member
United States
294 Posts |
Had some more input for you .If you look under Navigation click on US Coin Image Gallery this may help you with Id. process .Another suggestion is I would not rush into selling these you only get one shot at this .Metal values are going up every day and probably will continue for several months .One more thought maybe some one on this site may be willing to email you there phone number so they could help you when you start sorting could save you a lot of time and researching .(Not me)I'm to new . Seeking:Take your time Rainman |
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Pillar of the Community
United States
1984 Posts |
4ku--
You have been assigned the task of coming up with a plan. I've faced this issue many times in my experience with an auction house. How many ways is the pie to be divided? What are the competing agendas at this time?
I suggest before considering what to do with the coins and stamps, you consider what each party has as a desired outcome. Do all want cash? Are some willing to hold onto highly collectible/rare coins?
The reason I say to consider this soon is the state of metals prices, on which some of your sales (if you make them) will be based. For example, unless you have any rare date $20 golds or any in extraordinary condition, the price you receive--from a dealer, especially--will be based on the gold spot price. Each common date $20 gold will fetch about $1000 right now. For example, would selling these and dividing the proceeds allow you more time to catalog the rest?
I have given a lot of appraisals and advice over the years to people; I've gone over the details many times on this forum. My best advice is based on the notion that 'you get what you pay for.' While you could have a lifetime of collecting ahead of you, I recommend you consider paying a couple hundred dollars for a written appraisal that everyone could get a copy of so that you can make decisions together, and no one will think you are hiding anything. Even if they say they trust you now, these things have a way of going awry. Trust me.
In the meantime, keep asking questions. We're here to help (hopefully).
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New Member
 United States
12 Posts |
Let me say once again--THANKS!! You guys have provided me with great information and good ideas. Morgannoon--thanks for the advice about the show in KC--I'm in Topeka so it would be worth the trip but my wife's birthday is Sunday, so that takes care of that. Keep me posted on other shows in the area. Tights24--I will begin posting a list of some of the coins tomorrow. Will have to work on the pictures but will do that too in the near future. halfabust--There is really no agenda among the children. They are willing to take it slow, no need for instant cash. After they learn the values, they might want to hang onto some of the coins. Will make that decision after I get a better idea of value. Thanks for all of the help. I am off to Barnes & Noble tonight to get a Red Book. I will keep all of you posted as I get into this a little deeper. Keep the ideas coming--they are all considered and appreciated. |
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Pillar of the Community
United States
1934 Posts |
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Bedrock of the Community
United States
20753 Posts |
For any coin show information just go to Google and type in coin shows and your state. You should get a list of MOST of the coin shows in your entire state. I say MOST due to some, for some reason I could never figure out, may not be listed. I have that problem with one of our largest coin shows. Never listed. If you go to web sites like PCGS they too list coin shows. Then there is a coin show listing on Coin World Magazine web site. Some dealers such as https://www.coppercoins.com also list coin shows. As already noted I too strongly suggest you attend any coin shows you can. You can ask here, read books, check web sites for a long time but when you can actually see what prices are, grades are, what sells and what doesn't at coin shows, that is real life. Many could say a coin is worth XXX but if at a coin show it sells for XX, then that is what it really is worth. If you start now checking into those coins and IF you would be allowed to either keep them or be in charge of selling them, you may consider becoming a coin dealer. With a little bit of experience and knowledge, you could attend a few coin shows and sell those coins yourself. One amazing thing is how many dealers are bought out at a show by other dealers prior to the show opening. |
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New Member
United States
12 Posts |
Sorry for the delay in getting back to all of you. First, I had some problem with my user name--apparently someone thought 4ku was a problem. I was asked to change it and I have done so. Second, I have spent some time looking up the value of the coins. I will list some of the coins--a longer list would test my typing skills: 1795 Draped Bust dollar, 1800 Draped Bust dollar, 2 1801 dollars, 1 1802 over 1 dollar, 15 dollars betweeen 1842 and 1871, pretty much a complete set of Morgan dollars(looks like he is missing a couple of the CCs)with numerous duplicates (his 1893-S appears to be the most valuable), 5 rolls of BU Morgan dollars with common dates, almost a complete set of Peace dollars again with numerous duplicates, pretty close to a complete set of Trade dollars from 19873 to 1878, 1 Lafayette dollar, a large group of Ike dollars with several of them proof or uncirculated, 1855 1859 1856 and 1874 $1 gold pieces, 2 1927 $2.50 gold pieces, 1881 and 1896 $5 gold pieces, 1 1910 $10 gold pieces, 13 $20 gold pieces, bunches and bunches of half-dollars (dating back to 1810), quarters, nickels and pennies. I'm still going through them. Should I have some of these graded? What service would you recommend? What is the usual cost? Again, thanks for all of your help. I'm also working to get you some pictures. I should have those in about a week. |
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Valued Member
United States
126 Posts |
Wow, that is a very nice collection you have there. You certainly should spend some time looking it over carefully!
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Pillar of the Community
United States
2335 Posts |
I don't know which moderator didn't like your user name, but I thought the same thing they probably did the first time I saw it. Maybe my thoughts spend too much time in the gutter.
From your preliminary list it looks like you have a collection on your hands that could run into some serious money. The more you know about what you have the closer to market value you will get. I know it's been said, but it can't be stressed enough to not clean anything, & don't touch the coins with your bare fingers, let them bump into each other, drop any, etc.
We would all appreciate it if you could post pictures of every coin, sounds like you have some real eye candy. If you're collection is as extensive as it seems, & the coins are in good condition, your best bet is probably going to be contracting with one of the auction houses that specialize in coins. You might get a little more if you sold them individually, but a reputable auction house would recognize any rarities that you might miss.
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Pillar of the Community
United States
3234 Posts |
That is an absolutely an amazing collection. You're extremely fortunate. Most times when I examine collections that heirs are left with, it's basically an accumulation of coins worth about bullion. Yours seems to be one that was well tended.
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Pillar of the Community
United States
533 Posts |
quote:
apparently someone thought 4ku was a problem.
Must be a UNC fan.....   |
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Bedrock of the Community
United States
12437 Posts |
Nah, probably a Mizzou fan, with that whole border war thing and all... (disclaimer: I am from Missouri, but I am not a Mizzou fan- my team is SIU which almost beat Kansas in the Sweet 16 last year  ) Wow, that is an awesome collection  The only problem for you since you are an in-law is that fact that this is going to be a high dollar collection and that could cause family bickering over monetary issues with you in the middle. You have enough there that it might be worthwhile to submit them to an auction house for consignment and that way, you are not the final arbiter in the situation. Heritage Auctions in Dallas is probably the largest in the US and they had over $600 million in auction sales last year http://coins.ha.com/common/consigning.php. Teletrade is another reputable auction firm http://www.teletrade.com/coins/help/how2sell.asp. One advantage here is that both will catalog the collection, have them certified, and do all of the auction sales work for you while showcasing to many more people and delivering more money than you could get by selling the coins yourself on ebay or selling outright as a collection. |
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Replies: 39 / Views: 2,967 |
First Page
Posted 02/28/2008 5:01 pm
