My father passed and I'm the executor of the estate and need to divide up the value of a small coin collection and have some basic questions. I'm new to this.
First, I read not to clean the coins but have cleaned one in soap and hot water and soft brush. Won't clean others. I would like an opinion on taking the set to a local coin dealer (suburb of Chicago) I have been doing an inventory and using Coin Snap app to get an idea of value / grade. Thoughts on using that App or others.
I have attached a couple images but am looking more for where to start. The Morgan dollar is in a case so the pic is through the case.
The main problem with using apps or online pricing is that you will most likely end up with values beyond what you could get in a reasonable time frame to settle the estate. I suggest that you do find a reputable coin dealer and ask what they would give you to fully liquidate them. You can then decide how to distribute them to heirs based on that and let them take their chances at either trying to sell them on their own or keeping them or liquidating them all with the coin dealer and splitting the proceeds. You will have to explain to heirs that although they might be able to get more than what the coin dealer is offering, they would have to invest time and incur the costs associated with selling them on their own, reducing what they could realize by doing so. If you are the sole heir, there should not be an issue about finding loose change laying around the house when settling the estate.
Welcome to CCF! I don't know about other coin shops but YouTube channel T The Silver Stacker has interviewed one coin shop owner in the Chicago area, her name is Sherri, she owns Collectors Gallery. I think she is honest and friendly.
First, thank you for your replies. It is much appreciated. Some points based on the replies: We have time to settle the collection. We (3 siblings) agreed to not force a time frame on the liquidation of the collection and may keep some and sell the rest.
There was a question if there was more to the collection than what I provided with pictures.... There is around 900 coins in the collection. A quick list (grades where indicated is from the Coin Snap app): 4 - Morgan dollars one at AU 5 - Peace dollars with one at AU 1- Capped Bust 50c F 23 - Eisenhower dollars 12 - Susan B Anthony XF 16 - Sacagawea dollars - MS 26 - Kennedy half dollar 14- Liberty Standing quarters 8- Washington quarters 1930s 30 - 3 sets of State Quarters 1999, 2000, 2001 60 - Mercury dimes 35 - Roosevelt dimes 61 - Buffalo nickels 100 - Jefferson nickels - half from 1930s & 1940s 140 - Wheat pennies - 1910+ 37 - Lincoln Pennies 1920s and 1930s 90 - Lincoln Pennies 1940s 50 - Lincoln Pennies 1950s 160 - Lincoln Pennies 1960+ 6 - Indian head pennies 1882, 1900, ... Assorted Canadian pennies, dimes, quarters UK coins 1930s, mainly pennies Other assorted foreign coins
The above depending on condition have value, but a lot depends on the condition and mint. Regular no date or circulated coinage doesn't have much other than the silver value. The Washington quarters and Standing Liberty maybe worth some money depending on the date.
Unless mint these are generally worth face value 26 - Kennedy half dollar 1964 to 1970 are worth silver value. Modern (1971 and newer) only have value if mint state 35 - Roosevelt dimes - 1964 and earlier are worth silver value. Modern (1965 and newer) only have value if mint state 61 - Buffalo nickels - Unless they have full dates, most are worth around 25 to 30 cents. 100 - Jefferson nickels - half from 1930s & 1940s - War Nickels have value. A lot of the others need in higher grade. 140 - Wheat pennies - 1910+ - S Mint and mint state generally have value, a 1914 D is the prize if you have it. 37 - Lincoln Pennies 1920s and 1930s - S Mint and mint state generally have value, a 1931 S is the prize if you have it. 90 - Lincoln Pennies 1940s - Unless mint state only worth a few cents each. 50 - Lincoln Pennies 1950s -Unless mint state only worth a few cents each. 160 - Lincoln Pennies 1960 - Even mint state only worth a few cents each.
Quote: Assorted Canadian pennies, dimes, quarters UK coins 1930s, mainly pennies Other assorted foreign coins
Some of the Canadian coins have value. I don't collect UK so no idea.
I see your chart above, none of the Mercury dimes are worth $4 unless you sell them yourself (and then the time/ebay/shipping expense would eat greatly into what you get). I would treat those as "junk silver". Like I posted above about $1.80 each one.
For Canadian coins, check if any of them are silver: any 10, 25, 50 cent and dollars dated 1967 and older. 1968 10 and 25 cent can be in silver or nickel (attracted to a magnet). Any silver dollar 1948 or older could have value. Any other silver 1936 and older could have value (depending on the condition). All other silver coins are essentially worth silver value. Any other Canadian 1937 and newer are worth only face value. British coins from the 1930s have minimal value unless they are silver. Most foreign coins are only worth a few dollars a pound unless they are silver.
I think that taking it to a dealer to get an appraisal is a good idea.
bzookaj... Here are the pics of the coin I cleaned. I'm not sure what it was covered with but it was completely covered and at first did not know what it was. I soaked it in hot water for a bit then brushed it with a bristle brush. Yep, I can just hear the groans from those on this board.
I took a set to the local coin dealer and was offered $325 for the set: 1- 1830 Capped Bust 50c (pic provided) 6 - Morgan silver dollars. One is in a plastic case - Pic was provided with my first post. 3 - Peace dollars
I was told the main value of the set is with the cased 1881-S Morgan dollar ($100) and the 1830 Capped Bust 50c ($100) the remaining $125 was split on the rest of the coins
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Posted 02/03/2024 05:21 am
