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 Replies: 17 / Views: 6,285 |
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Valued Member
Canada
58 Posts |
Hi everyone. I am trying to decide how to proceed with my Dad's coin and paper money collection. I discovered that my house insurance will only cover $1000 in money losses. I am hesitant to spend a small fortune on a safe. Would it be OK to post my complete list here? I could really use some advice on how to liquidate the collection. My Dad had a lot of RCM stuff, but also a lot of coins and paper money he gathered over the years. Thanks for any and all input. |
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Bedrock of the Community
 United States
12477 Posts |
I don't see why there would be a problem with that. We also like pics!  Keep in mind, though, that you don't currently meet the requirements to sell on this forum.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
Edited by spru
04/12/2018 9:52 pm
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Moderator
 United States
14463 Posts |
When you post your list, don't put it just one post. Break it up by coin type or year or something else. People on mobile devices would have a difficult time it everything was in one huge/long post.  |
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Valued Member
 Canada
58 Posts |
Thanks for the replies! I am not going to break any forum rules. What I am looking for is advice on how and where to sell this collection. I will get busy and take some pictures and also divide up the posts by coin type.
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Bedrock of the Community
Canada
24885 Posts |
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Bedrock of the Community
United States
94367 Posts |
to the CCF! |
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Valued Member
Canada
372 Posts |
I see that you are from N.S. Any maritimes coins in the lot ?
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New Member
Canada
12 Posts |
I have an addiction to quarters but I don't meet the requirements to buy. I buy and sell on ebay - their commission is a killer and shipping is a pain - you will earn your money. |
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Valued Member
Canada
58 Posts |
cdcoinman I have: NS PEI NB 1 cent, Half CentNFLD 1908 50 cents NFLD 1917 25 cents NFLD 1947 5 cents NFLD 1942 10 cents NFLD Geo VI penny I can post photos if you would like to see them. Sweetkenny I hear you loud and clear! I stopped selling on ebay long ago. Edited by ahaba
04/18/2018 5:40 pm
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Valued Member
Canada
58 Posts |
Well, I was not impressed by the first dealer I went to, but I found another dealer who gave me fair prices on everything. I sold all of the collection (which was about 8 cubic FEET of coins and paper money) except for the 1940-2002 Canadian half dollars. I also have a handful of US coins and those darn $20 for $20 RCM coins. Any advice on selling them would be appreciated. I am going to try to take them to my bank (Scotiabank) but I really don't expect them to accept them. |
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Pillar of the Community
Canada
5324 Posts |
The 20 for 20 coins the bank that you have your accounts at is your best bet to deposit them into your account, tell the bank there is a process for the RCM to pay the bank to redeem these coins, it's really simple but you have to insist that's why it best done at your home branch. |
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Pillar of the Community
Canada
1747 Posts |
The half dollars, are you sure about the dates, because there are silver ones in that range not to mention KGVI ones which normally sell for higher than bullion.
are you talking about the jubilee ones release in 2002 which are steel? these are not worth anything more than face value, again try and deposit these at your bank.
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Valued Member
Canada
58 Posts |
I decided to keep the half dollars. Some are silver and some are nickel. What I am trying to unload is 14 $20 for $20 coins and 3 $25 for $25 coins. I am trying my local bank on Monday. Thanks for the advice!
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Pillar of the Community
Canada
999 Posts |
There are a few issues with taking them to the bank. I know this from first hand experience. 1) They often have no idea about the RCM Numismatic Coin Redemption Policy; 2) Once they find out what it is, they need to ship the coins to the RCM and hear back, which can take weeks; and 3) they may charge you a 2% processing fee. I decided to skip all that and took them to Canadian Coin & Currency in Richmond Hill, Ontario. It was no hassle, face value, cash on the spot. If you aren't based in the GTA, there may be other large dealers that do the same thing. Or maybe your bank will be less of a pain to deal with than mind. Good luck! |
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Pillar of the Community
Canada
5324 Posts |
The RCM is the one paying the fee to the bank, that is why you should use only your home branch, the big five Canadian banks don't make 2 billion bucks every 90 days by being nice. |
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Valued Member
Canada
58 Posts |
The dealer I sold most of the collection to wanted no part of the $20 for $20 coins. Teller at my local bank said they would take them, so stay tuned!
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Replies: 17 / Views: 6,285 |
Posted 04/12/2018 10:04 pm
