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Where to begin....
As always...when in question, start with Google. Only this time it's
not a simple search. Unknown until 2 days ago, my Mother had been storing 2 coin collections in her closet for almost 15 years. These were coins collected by one of my Great Grandfathers, both Grandfathers and my Father and handed down to my Mother. Because I'm retired, my Brothers and Sisters asked me to look into it. When I discovered that she had over 6 shoe boxes completely filled with old coins (in the late 1800's) and many Mercury head dimes, I headed for the bank. Had to rent 2 big safe-deposit boxes at the bank. I have no idea what she has or where do I really even begin. My biggest fear was going to a commercial coin shop and being hood-winked into selling well below the value. So...somehow I need to be educated in this endeavor. Strange in how it brought back memories of my Father bring home rolls of dimes and pennies from the bank and we would sit at the kitchen table checking for certain ones, then re-rolling the coins and taking them back to the bank. Seems like yesterday, except I got no help but you all in getting me headed in the right direction. Hope this is a good start Google RJ |
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RJ Polock wrote:
As always...when in question, start with Google. Only this time it's not a simple search. Unknown until 2 days ago, my Mother had been storing 2 coin collections in her closet for almost 15 years. These were coins collected by one of my Great Grandfathers, both Grandfathers and my Father and handed down to my Mother. Because I'm retired, my Brothers and Sisters asked me to look into it. When I discovered that she had over 6 shoe boxes completely filled with old coins (in the late 1800's) and many Mercury head dimes, I headed for the bank. Had to rent 2 big safe-deposit boxes at the bank. I have no idea what she has or where do I really even begin. My biggest fear was going to a commercial coin shop and being hood-winked into selling well below the value. So...somehow I need to be educated in this endeavor. Your first step needs to be a book purchase. ;-) The 'Redbook' guide to US Coins is your first order of business. Identify the coins by type, date and mm. The book will show you where to look and give a rough idea of the retail values of the coins in various grades. That way you are likely to learn if you have any 'Keydate' coins. Each series of coins also has a myriad of varieties, like double-died minting errors, or 3-legged buffalo or RePunched Mintmarks which require a lot more reading and a good strong lens to positively identify. Even the 'junk' coins (and that's not really as insulting a term as you might think!) are likely to have value, if only for the silver content. If all that sounds too lengthy a process, call your local coin dealers and arrange for an appraisal. Get more than one opinion about the value of the hoard. Be in no hurry to sell, but do not be surprised if the dealer's offer is well below retail value, they do live on margin you know. Paying for an appraisal is better than letting a prospective buyer tell you what you've got. ;-) Strange in how it brought back memories of my Father bring home rolls of dimes and pennies from the bank and we would sit at the kitchen table checking for certain ones, then re-rolling the coins and taking them back to the bank. Seems like yesterday, except I got no help but you all in getting me headed in the right direction. Based on the above, I'd say you should go the book route and discover what the joy was for your Dad in all those trips to the bank. ;-) Alan 'Roll Searchers Anonymous' |
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RJ wrote:
snipStrange in how it brought back memories of my Father bring home rolls of dimes and pennies from the bank and we would sit at the kitchen table checking for certain ones, then re-rolling the coins and taking them back to the bank. Seems like yesterday, snip Think of how many more wonderful memories it will bring back when you are sitting touching them? Rubbing your finger and thumb softly over the coin, daydreaming of things long ago. Sounds wonderful to me. Doris Australian Milk Producers Association http://www.geocities.com/ampa_ltd/ Calling ALL farmers, rural businesses, australians! See http://home.iprimus.com.au/wpbalcombe/ Please leave feedback re OZ Dairy Crisis at http://geocities.yahoo.com/gb/sign?member=BAlcs9 Welcome to "Balcowa"! http://www.geocities.com/balcs9/index.htm |
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Michael E. Marotta wrote:
[snip] Excellent post, Michael. -- -Sam |
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"Michael E. Marotta" wrote in message m... (RJ Polock) wrote: Unknown until 2 days ago, my Mother had been storing 2 coin collections in her closet for almost 15 years. These were coins collected by one of my Great Grandfathers, both Grandfathers and my Father and handed down to my Mother. You got good advice already. Get The Red Book. Think hard about not selling them at all: they are family history. Furthermore, I recommend that you _do_ contact your area coin dealers. (1) Make sure that the ones you work with are members of at least the ANA (American Numismatic Association). The other professional societies a PNG -- Professional Numismatists Guild. IAPN -- International Association of Professional Numismatists ANS -- American Numismatic Society. I would not worry too much about what brand of coin dealer you frequent. Get yourself educated first, and you will be far better off than relying on a coin delaer belonging to some club he can join for $40/year. You have to make sure. Some dealers will claim to be members of the ANA when they are not. Ask to see their current issue of the Numismatist, or membership card. ("I keep it at home." is not an answer.) The ANA, IAPN, etc., all have a code of ethics. It does not make the coin dealer your friend, but it does limit the worst of all possible cases. (2) Once you begin hacking away at this, and once you have found truly professional dealers to work with, then consider PAYING for an appraisal. Rates of $35 to $50 per hour are common and you should offer to include drive time in that, if you are serious. Several visits should be necessary. Limit the hands-on time to 40 minutes. Get a first estimate and then later make a second appointment for whatever amount of time is convenient. Get more than one appraisal, at least to start. Not all dealers know everything. Paper money, ancients, and tokens are specialty areas. (2a) One thing you could do is to work with the Red Book, find a half dozen really nice coins and then VISIT the coin dealers. You will get a much better understanding from that. This is not a trivial undertaking. You should consider joining the ANA yourself. ... And I think that the rule is called "Sturgeon's Law" that 99% of everything is junk, so be prepared for that. Finally, consider contacting people here via email. It is hard to know us through our handles and addresses. If you spend some time reading the newsgroup, you might find yourself more comfortable relying on the opinions of opinionated strangers. Good luck. Michael E. Marotta ANA R-162953 |
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Rubbing your finger and thumb softly over the coin, daydreaming of
things long ago. Perhaps: Holding the coin by the edge, daydreaming of things long ago. Old coins, like old memories, need to be treated kindly. Paul "butch 1" wrote in message ... RJ wrote: snipStrange in how it brought back memories of my Father bring home rolls of dimes and pennies from the bank and we would sit at the kitchen table checking for certain ones, then re-rolling the coins and taking them back to the bank. Seems like yesterday, snip Think of how many more wonderful memories it will bring back when you are sitting touching them? Rubbing your finger and thumb softly over the coin, daydreaming of things long ago. Sounds wonderful to me. Doris Australian Milk Producers Association http://www.geocities.com/ampa_ltd/ Calling ALL farmers, rural businesses, australians! See http://home.iprimus.com.au/wpbalcombe/ Please leave feedback re OZ Dairy Crisis at http://geocities.yahoo.com/gb/sign?memberșlcs9 Welcome to "Balcowa"! http://www.geocities.com/balcs9/index.htm |
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