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Replies: 8 / Views: 2,561 |
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New Member
United States
4 Posts |
Hi everyone. I'm new here but I'm hoping to get some advice about selling my grandpa's coin collection. I want to make clear that this is in no way an offer to sell, I just need advice. Grandpa passed away about 14 years ago and Grandma recently moved to a care facility. We were aware of a number of coins that Grandpa had but we discovered quite a few more during the estate liquidation. These coins (and some bills) aren't anything exotic, I don't think. Grandpa collected a lot of them while working the counter at the post office. He bought a few commemmoratives. And there's an assortment of other things like tax tokens, ration tokens, promotional coins, etc. There are some pre-1964 silver coins, quite a few 1943 zinc pennies, wheat pennies, bicentennial coins, Buffalo nickels, indian head pennies, Mercury dimes. Most are in "coffee can" condition, though some are a little better and a few are uncirculated. I have a spreadsheet listing everything if anyone's interested. I'd like to convert these to cash for my grandmother's living expenses. What is the best way to get a good valuation on them and to sell them? Any advice greatly appreciated.
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Pillar of the Community
United States
5318 Posts |
 Two ways I see to approach this --buy some books (such as RedBook) and get a ballpark valuation before you approach a dealer, or: Befriend a dealer whom you can trust and get a good appraisal--which often involves a small fee. Knowing something about Indian Head cents myself, I can tell you that it's easy to miss valuable coins unless you know exactly what to look for. While most people consider the 1877 the "key" there is a rare coin that is far more valuable. So, if your grandfather had collected for decades, it's quite possible he collected before some rare coins were "discovered". That's probably true for the other series as well. If you post dates on the IHCs, I will gladly let you know what you should look for. For starters, here is a good resource on IHCs.Just my one opinion; I'm sure you'll get more seasoned advice. 
Edited by KurtS 10/10/2008 2:28 pm
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New Member
 United States
4 Posts |
Thanks for your reply, Kurt. Yes, he had been collecting for decades. His interest started as a child. His counter clerk finds were collected between about 1946 and 1977. Between 1976 and his death in 1995 he mostly collected from pocket change with a few purchased sets and commemoratives.
Here are the dates on Grandpa's Indian head pennies, along with the quantity of each (for whatever that's worth):
1 1880 2 1882 2 1883 1 1884 2 1886 7 1887 4 1888 5 1889 7 1890 4 1891 6 1892 2 1893 1 1894 4 1895 1 1896 11 1897 5 1898 12 1899 10 1900 18 1901 11 1902 11 1903 8 1904 9 1905 17 1906 11 1907 6 1908 2 1909
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Pillar of the Community
Canada
1931 Posts |
HI JB1701 and welcome to the forum. Is there any way for you to check the mint marks on the 1908s and 1909s? Coins are worth different values depending on grade as well as where they were minted. F0r instance.... the regular 1908 is worth about $2 (more or less) in G4 (good) condition, but the 1908s is worth about $65 in the same grade. and the 1909s is worth at least $425 It could help you to figure out general grades on the american coins if you click on coin facts link at the top left of the screen. or maybe you could take pictures and post some of those in the grading forum?
malissa
Edited by malissadawn 10/10/2008 2:51 pm
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Pillar of the Community
United States
5318 Posts |
Thanks for the list! I see mostly the more common date ranges, but of course--check for those 1908-S and 1909-S.  One of the most valuable US cents ever was minted in 1888. Here's a picture of the 1888/7 overdate. This particular copy would clear $100K if sold today. While it's very rare, I'm sure there are undiscovered copies somewhere. 1897 Common otherwise, but there's a fun variety with a lot of collector interest (and added value). This is one you can almost spot without a loupe. Look for the digit punched in the neck: 1887 There is a very dramatic DDO that's worth a premium. Check for doubling in AMERICA. It should match this: 1882 There is a pretty rare and valuable coin with misplaced digit punches in the neck: 
Edited by KurtS 10/10/2008 3:15 pm
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Bedrock of the Community
United States
19949 Posts |
First thing....take your time! Don't just rush into a dealer and say I want to sell all this. If you do, you'll get "bulk" price as you have enough volume that no dealer will be willing to go though and appraise each piece. The best they'll do is look for obvious key dates and then pay a bulk price for everything else. For example, if you walk in with a bag of wheat cents, he's going to throw them into a coin counter and pay you straight up 3 cents each. However, if in that bag, there's key dates, doubled dies or other rarities.....tough luck for you. You may have just sold him a $2000 coin for 3 cents. TAKE YOUR TIME. Go thorugh everything with a Red Book in hand see exactly what you have and learn a little about numismatics. Only then can you make an informed sale and not cheat yourself. Good Luck and welcome to SMC! 
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New Member
 United States
4 Posts |
Malissa, I noted the mint mark on each coin as I inventoried them, so I'm thinking these were unmarked, but I'll check when I get home. I'll also check for Kurt's markings and post photos of anything I find.
Thanks for your help,
Jon
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New Member
 United States
4 Posts |
Thanks, Thad, I had no idea how that worked. I know Grandpa occasionally sold some coins he found to dealers but I never was able to go with him. Sounds like I need a loupe and a Red Book. I do want to be sure I get full value both for my grandma and to honor the time Grandpa spent with this collection. Joey
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Moderator
 United States
188322 Posts |
 to the forum! I agree with everyone else, take your time! Learning and attributing everything can be overwhelming, so do not hesitate to post any questions (and pictures as Malissa suggested) to the forum. We love to help! If you take something to a coin dealer, tell them you are shopping around and not necessarily wanting to sell at the time. Limit your exposure. Only take a few things (to avoid the "bulk rate" mentioned above) and avoid being too detailed on the size of this collection until you get to know the dealer. When it comes time to sell and you have offers from dealers, and if you feel comfortable sharing, post what you are selling and what the offers are before you commit; every opinion counts! Lastly, I highly recommend picking out some pieces (something significant, like birth years, etc.) and keep them for sentimental reasons. Give them to your children or grandchildren. They do not have to be the most expensive items, just something that will help future generations remember where they came from! It is also quite possible that, with all this research, the collecting bug will get you and what better way to start your own collection than with some items that belonged to your grandfather? 
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Replies: 8 / Views: 2,561 |
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