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 Replies: 8 / Views: 1,505 |
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Pillar of the Community
United States
2335 Posts |
My estate sale group just started on a new estate & it has coins.....lots of coins. I've got enough experience to work with the older stuff but I'm totally clueless on any of the modern items unless they are silver. That leaves a lot of stuff I don't know anything about. I went over for the first time today to take a look. There's a pretty good sized safe that's supposed to be full, with 5 smaller letter type safes sitting on top. We don't have keys or combinations for those yet so I started on the liquor boxes sitting on the floor. Here's my problem. I'm running into a lot of what appear to be rolls of BU moderns. I'm talking about solid date rolls of State Quarters, nickels & memorial cents. Is there a premium for this type of material, & if so how much & what's the best way to maximize the money for the estate? I'm hoping ya'll can help me out. It seems like a shame to put a bunch of coins into circulation that might have value to someone. |
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Valued Member
United States
384 Posts |
Yes Yes, if they are BU Rolls, they definitely have a premium over face value, some more than others. Tonnes of people sell them on ebay, so you can look the sold items there to figure out how much the premiums are. If they are Mint sealed rolls (as opposed to NF Strings) then there is a higher premium. Hope that helps. Don't know what the best way to sell those out would be for you, but I would hope you'll sell some here through the forums. |
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Bedrock of the Community
Australia
21786 Posts |
If you are an executor to an estate, remember:
"Where there is a will, there is a relative"
Sometimes, you have to play it cagey, but with total transparency, to avoid comebacks.
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Pillar of the Community
 United States
2335 Posts |
I'm not the executor, I'm the strong back weak mind guy for a local estate sale company. The only reason I work with them is because I'm also their primary gold/silver buyer & coin "expert". That gives me first shot at anything in the estate sales they hold & it's a lot of fun searching for treasure besides.
These are not mint sealed rolls. Many of them are in plastic coin storage tubes. Some of the tubes have Littleton labels that say X year or years in MS60+ condition. From what I have looked through in the boxes outside the safes the guy bought a good bit of what I consider overpriced junk. For example there are several of the Postal Commemorative Society albums, with coins, stamps & history on each album page. I looked through what I brought home last night & there was a fair percentage of gems mixed in with the junk & I'm hoping the really good stuff will be in the safes.
There's a fine line here. The estate sale company gets a percentage of all sales. The contract states any "cash" that is found will be returned to the heirs, collectible coins are exempt. Legally we could sell the collectible coins no matter what the premium is & take our cut. In practice that could mean the heirs get less than face value. If we think that might happen we classify the coins as "cash" & give them to the heirs with that information. In general, estate sale companies work for 20-40% of the sale price, which means that most of the time modern coins are given back to the heirs.
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Pillar of the Community
United States
2651 Posts |
is it in Mississippi? 8*)
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Valued Member
United States
139 Posts |
Think you could give us an inventory of what you are looking at for modern, and maybe the forums can help you out a little bit more?
And good luck!
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Valued Member
United States
384 Posts |
Didn't think about plastic tube rolls, I am guessing they have already been searched for errors etc. In that case, if they have high mintage then, they may not have enough of a premium to cover the costs of trying to sell them. Some will still get a higher premium though, and if you could tell us what you're looking at, people here may be able to help you sort the ones that are worth your time.
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Pillar of the Community
United States
2335 Posts |
Based on the type of coins I have seen so far I seriously doubt any of these coins have been searched for varieties or errors. In the liquor boxes I have been through there were several albums. Unfortunately they were almost all albums from the Postal Collectors Society. I'm fairly certain that these are not something you would see in a serious collection. The only album that wasn't from the PCS had PVC 2x2 pages with obvious damage to the coins. I also found the keys to 2 of the letter type safes.....both of them were stuffed with multiples of proof & mint sets. Most of these were from the 2000's although there were a few silver proof sets from 95-98.
I'm hoping to get into all the safes by the middle of next week. I have found a good bit of "junk" silver in the liquor boxes, a $5 gold piece & a box with empty 2x2's that used to hold coins with numismatic value. Once I get into everything I'll be posting a list here for comments.
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Bedrock of the Community
United States
20753 Posts |
Sounds like our in for some serious learning about Numismatics. For one thing I suggest you purchase a Red Book by Whitman Publishing so you have some idea of what might, could, may be of value. It is also possible that the previous owner was just a hoarder and many of those rolls are so modern, they would hardly be worth the selling price on ebay. I also suggest you find out what is in those safes since people normally don't put normal, everyday coins in them. Once you get all of the items layed out somewhere safe, you also might want to look up a coin store and ask the owner for his appraisal of the entire mess. |
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Replies: 8 / Views: 1,505 |
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Posted 04/26/2011 9:17 pm
