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 Replies: 8 / Views: 1,499 |
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New Member
United States
11 Posts |
I am new to the world of coins but became interested when we found great grandpa's collection. Most of the coins are in average condition and some are in pretty poor condition, but I think they are cool and want to learn more about them. There are all kinds of coins, Morgan dollars (1901, 21, 22 & 23), standing liberty half dollars and quarter, Washington quarters from 1930s-60s, Benjamin Franklin half dollars 1950s&60s, and a ton of JFK half dollars and Eisenhower dollars. These have been stored poorly forever. They were in small pouches all together and prescription bottles even. Is it worth it to invest in all of the cases and such? Also how do I start learning about them? I have google some but alot of the information is all over the map. Should I think about getting appraisals? Thanks in advance for any advice/help! |
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Bedrock of the Community
United States
94367 Posts |
If you have a coin shop in your area, they will probably give you a quick once-over for no charge if you bring everything in.  to the CCF! |
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Valued Member
United States
221 Posts |
It sounds like you might enjoy searching through the coins. A pile of coins like that can be a lot of fun to pick through, at least for scavengers like me! I recently got back into coin collecting after a decades long hiatus. My advice is don't plan on getting rich off of that windfall, but learn enough so that you can identify anything special you might like to keep or sell for more than bullion, like a 1932-S or 1932-D quarter, if you were so lucky. I think a good place to start would be to purchase or borrow a Whitman " Red Book". It covers the basics, and it is generally accepted as a reliable source of technical data, such as which coins will contain silver, and how much, or relative values. There are some great resources on the internet, but it is a mixed bag of info itself. You will find everything from sleazy videos promising the secret to finding riches in pocket change, to other resources requiring serious commitment to study, kind of like cracking open a calculus textbook. If you find something interesting or odd that you have a question about, then post pics! |
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Bedrock of the Community
United States
20753 Posts |
To start with simply go to Amazon.com and type in Whitman Red Book. Buy one. A great book full of information on almost all coins. Prices in that book are exagerated though. Do not try a coin dealer for now. They almost always try to cheat you. Once you get that book, look through it for what you have. Make lists of what you have and what you may need. This is a hobby so have fun. |
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Valued Member
United States
284 Posts |
How to proceed? Procedure involves steps. Step one: Employ a compass. North: How do I most efficiently move these on? South: Tens of thousands, perhaps hundreds of thousands, of coins passed through Great Grampa's hands. I want to understand his decision to preserve each of these few. East: An opportunity for new learning in a new area has opened and I want to invest myself there for a time. West: I want to know if I'm on the brink of a financial killing.
Now, there is southeast, northwest, nor' noreast, sou' souwest and everything in between.
Step two: repost your question giving your direction.
Step three: see if that procedure and your first-chosen direction meets your need.
Step four: Hold your course., or change course.
I'm as new on this site as you are, but I've already concluded that this community is poised to appropriately adjust if adjusted. Be patient. Great Grampa appears to have waited for his chosen coins to come to him. Don't attempt to read Grampa's history on a single dull day.
Kevin
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New Member
 United States
11 Posts |
Thanks for all the tips and tricks! I will definitely look into the book and decide if I want to go to a coin dealer.
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Moderator
 United States
34398 Posts |
Quote:
These have been stored poorly forever. They were in small pouches all together and prescription bottles even. Is it worth it to invest in all of the cases and such? First welcome to CCF. Second, if you will be saving anything from this collection, you goal should be to stop any degradation and protect the coins better moving forward. Depending on their value, many of these coins might be adequately protected in 2x2s (potentially following a well-ventilated bath in acetone). However, you should definitely not try to clean any of the coins. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
4628 Posts |
I agree with all these people - get that book, get a bit of education about coins and things, because those dealers will try to game you.
If you go in there, the dealer will either tell you they have heaps of those things in stock and taking yours is a chore and work for them, so you will accept a low ball offer, or they will say some stuff about how they are good coins, but the storage has ruined them.
No what to expect before you go in, as a dealer loves it when someone comes and looks bedazzled at the coins and everything else and then says "I know nothing about these old coins I got from great Aunt Clotilda or whatever". Remember those old cartoons where the swindler looks at another character and they turn into a pigeon or a dodo and its says "Stool or Mug". Don't be that pigeon.
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New Member
United States
11 Posts |
Thanks for the advice princetane. I'm a pretty skeptical person by nature, so I would never take the very first offer especially with how little I know about coins right now!
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Replies: 8 / Views: 1,499 |
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Posted 11/14/2020 1:08 pm
