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Newbie Needs Advice On Appraisals

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christa8's Avatar
United States
2 Posts
 Posted 01/05/2011  11:36 pm Show Profile   Bookmark this topic Add christa8 to your friends list Get a Link to this Message Number of Subscribers
Hello all...
Hoping you can help. When my grandmother passed away over twenty years ago, she left me a few rolls of coins that I placed aside and forgot about. But when my father re-awakened my interest in coins by giving me a filled State Quarters folder, I dug out those rolls. From what is written on the rolls and what I could tell about the end coins, I may have some pretty valuable coins in those rolls. I have an appointment for an appraisal but I don't feel comfortable just leaving the coins without a solid, documented inventory. On the other hand, I'm concerned that removing the coins from the rolls, even with proper precautions, could negatively affect their values. Any ideas? And please feel free to tell me if I'm going about this all wrong. Any help is much appreciated!
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afclassic87's Avatar
United States
564 Posts
 Posted 01/06/2011  02:38 am  Show Profile   Bookmark this reply Add afclassic87 to your friends list Get a Link to this Reply
What type of coins are you talking about? What year can you see? Pictures? How do you know they are worth a lot? Why not just go to a coin shop and ask them? You gave a great deal of info but nothing about the coins which are the really important part of this story. Please describe what you got. I'm always excited to hear that a new collector is interested in the hobby!
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christa8's Avatar
United States
2 Posts
 Posted 01/06/2011  07:45 am  Show Profile   Bookmark this reply Add christa8 to your friends list Get a Link to this Reply
AF-
Thanks for replying. Honestly, I intentionally did not say what kind of coins they were because I don't see the relevance to the question. More importantly, I didn't want to offend the appraiser. Besides... doesn't everybody like a good mystery?! lol. let's just say that from what Grandmom wrote on the wrappers, she believed that she had filled them with early 20th C, low circulation coins, possibly including some defects.
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lukkyseven's Avatar
United States
880 Posts
 Posted 01/06/2011  08:59 am  Show Profile   Bookmark this reply Add lukkyseven to your friends list Get a Link to this Reply
Removing the coins from the rolls wont hurt the values at all. It will actually help since you'll know what you have. Get yourself some cloth gloves and a towel. Open the wrappers on top of the towel (so you don't ding or scratch them on the table). Make sure you've got your gloves on them so no finger oils get onto the coins also.

I would also tell you to post pictures. I've seen too many times on here people thinking that there parents/grandparents have given them valueable coins and that's not always the case. Hopefully for you it is. If you'd like, you can also go to a local coin store and pick up 2x2 coin holders to put the coins in individually for long term storage. Hopefully you haven't stored the coins in a humid place over the last however many years... bad things can come from coins being put in rolls when stored improperly.
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bobby131313's Avatar
United States
24148 Posts
 Posted 01/06/2011  10:34 am  Show Profile   Bookmark this reply Add bobby131313 to your friends list Get a Link to this Reply

Quote:
I've seen too many times on here people thinking that there parents/grandparents have given them valuable coins and that's not always the case.


Actually from my experience, most of the time that's not the case.
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biokemist6's Avatar
United States
12437 Posts
 Posted 01/06/2011  11:13 am  Show Profile   Bookmark this reply Add biokemist6 to your friends list Get a Link to this Reply

Quote:
I intentionally did not say what kind of coins they were because I don't see the relevance to the question.

It is extremely relevant, coins can have a tremendous range in rarity and value depending on the denomination, date, and mintmark. Being vague is not a good way to get helpful advice You could have a roll of common date wheat cents worth about $2 or you could have a roll of 1916 Standing Liberty quarters worth in excess of $100,000. The advice will definitely not be the same in all cases.
Edited by biokemist6
01/06/2011 11:14 am
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USArmyParatrooper's Avatar
United States
1283 Posts
 Posted 01/06/2011  11:35 am  Show Profile   Bookmark this reply Add USArmyParatrooper to your friends list Get a Link to this Reply
I wouldn't worry about offending the dealer who's doing the appraisal, especially if you're paying him or her. If I inherited something of potential worth and it was out of my expertise, I would probably get 2 or 3 different appraisals.

On a forum you can get opinions from a wide range of collectors for free, so why not?

The only thing I would add is do not agree to sell the coins to the dealer who's doing the appraisal. In fact, prior to him doing the appraisal I would make it clear that the coins are not for sale. Reason being (some) dealers can be shady and give you a ridiculous appraisal in an attempt to buy them off you for cheap. Of course, this only applies if you don't know the dealer well.

As Big Hoss said from Pawn Stars, "It's not that I don't trust you. It's that I don't trust anyone"
Bedrock of the Community
United States
20753 Posts
 Posted 01/06/2011  10:30 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply

Quote:

It is extremely relevant, coins can have a tremendous range in rarity and value depending on the denomination, date, and mintmark. Being vague is not a good way to get helpful advice You could have a roll of common date wheat cents worth about $2 or you could have a roll of 1916 Standing Liberty quarters worth in excess of $100,000. The advice will definitely not be the same in all cases.


The above is really something to think about. You could have nothing or something that an appraiser would snuff at and you loose.
You should really sit down and try yourself to see what you have. There are a ton of web sites you could use for such info including this one of course.
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IHPO8S's Avatar
United States
374 Posts
 Posted 01/07/2011  12:42 am  Show Profile   Bookmark this reply Add IHPO8S to your friends list Get a Link to this Reply
How much is the appraisal costing you? Why cant you be present at the appraisal? I would never leave anything with out documenting it and getting a reciept.
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SsuperDdave's Avatar
United States
23522 Posts
 Posted 01/07/2011  12:50 am  Show Profile   Bookmark this reply Add SsuperDdave to your friends list Get a Link to this Reply

Quote:
On the other hand, I'm concerned that removing the coins from the rolls, even with proper precautions, could negatively affect their values. Any ideas? And please feel free to tell me if I'm going about this all wrong.


It is a physical impossibility for you to maximize your return without removing them from the rolls. If they are worth selling, they are far more valuable individually than in a group.

With that said, I can have no further advice for you because you don't seem willing to tell us what they are. That, I admit, is a first in my experience. You're asking us about value without telling us what we're evaluating.
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3660 Posts
 Posted 01/11/2011  11:48 am  Show Profile   Bookmark this reply Add zeewool to your friends list Get a Link to this Reply

Quote:
I have an appointment for an appraisal but I don't feel comfortable just leaving the coins without a solid, documented inventory. On the other hand, I'm concerned that removing the coins from the rolls, even with proper precautions, could negatively affect their values.


Quote:
let's just say that from what Grandmom wrote on the wrappers, she believed that she had filled them with early 20th C, low circulation coins, possibly including some defects.

Oh good grief... Your grandmother filled the rolls.... so nobody has any idea what is between the end coins, yet you want an appraisal on what could possibly be inside..... maybe you should cover up the ends with masking tape so this appraiser can get the full effect of these mystery rolls.


Quote:
I intentionally did not say what kind of coins they were because I don't see the relevance to the question. More importantly, I didn't want to offend the appraiser. Besides... doesn't everybody like a good mystery?!

I don't see the relevance either.... silver, gold, copper, what difference does it make?

There is no real mystery to me here... be sure to let us all know what this appraiser values your mystery at.



Quote:
Being vague is not a good way to get helpful advice

...but then, I'm not convinced that helpful advice is the intent bio.
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DavidZerbato's Avatar
United States
1081 Posts
 Posted 01/11/2011  12:17 pm  Show Profile   Bookmark this reply Add DavidZerbato to your friends list Get a Link to this Reply
From your initial post, it does sound like you are going about this in a completely wrong way. What I would do is open the rolls to see what you have. Make a list of all the coins, dates and mint marks if applicable. This way you will have an inventory and know exactly what you have. I would then post pictures here of at least a sampling of what you have so that we can give you free advice and possible value. The end coins mean nothing and no offense to you, but your posting indicate that you are far from the ideal person to determine the value of what you have. If you can post some pics of what you have, we will be able to clear up this mystery very quickly and give advice as to the best way to store, maintain or sell these coins if they are valuable. It would be a great story to hear you did hit the jackpot, but keep in mind that there are many fakes out there, especially with key date coins so an expert's opinion is a must. But as the others have said, I would not sell the coins to any dealer or appraiser who gives you a number. You want independent and non-interested people. Good luck.
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United States
1231 Posts
 Posted 01/15/2011  3:36 pm  Show Profile   Bookmark this reply Add onejinx to your friends list Get a Link to this Reply
I have to agree with everyone else. If we don't know what the coins are, then we can't be of much help. And with that....

I can give you an apprasial without even viewing the coins.....$0.50 a roll and i'll take them all.
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United States
573 Posts
 Posted 01/15/2011  5:18 pm  Show Profile   Bookmark this reply Add StJoeBlues to your friends list Get a Link to this Reply
A friend of mine just had a similar circumstance. His F-I-L passed away leaving a small collection. No one knew what was in the collection (tubes of Mercs, rolls of Lincolns, etc.). He and his daughter found a web site with prices, wrote down all the key dates and looked through the coins to see what was there. They got a general idea of value and are liquidating the collection. So now they are able to talk to dealers with knowledge.

In other words, it would benefit you to do some research prior to taking them in, to catalog them and know what you have.
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Maineman750's Avatar
United States
3592 Posts
 Posted 01/15/2011  7:47 pm  Show Profile   Bookmark this reply Add Maineman750 to your friends list Get a Link to this Reply
I'm with zeewool on this one..sounds like somebody may be fishing.
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