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Evaluating Coin Collections



 
 
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  #1  
Old July 19th 03, 04:30 PM
Buz Overbeck
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Default Evaluating Coin Collections

Hello,

I just found and joined this group hoping for some expert opinions on how
to evaluate and sell a coin collection.

My wife's parents just died and part of the estate is a coin collection her
father had been working on for many years. She tells me the collection
consists of "one of every coin minted in the US from 1900-2000".

Not yet having seen it, we don't know how (or if) any are new, the
condition of the coins or if there are any especially rare (like
double-striked) coins in the collection.

I would welcome any suggestions on the best way to have the collection
evaluated and sold and what to look out for to avoid being taken advantage
of.

I'm obviously not a collector and so would appreciate any help I can get
from the group.

Many thanks,

Buz Overbeck
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  #4  
Old July 19th 03, 07:16 PM
John Carney
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"South of Provemont" wrote

For instance the 1955 Doubled Die is a "must" for a complete
collection


Nope. Don't agree with this. Although I will aquire this coin, I consider it an error and
not necessary to have to claim a complete Lincoln set. Apparently, Dansco and most of the
other album manufacturers agree with this, not having a hole in the album for this coin.
Oddly, they do have a hole for the 22 plain, another coin I consider an error and not a
necessary part of a "complete" Lincoln set.

--
John

Visit the RCCers favorite coins web page
http://mywebpages.comcast.net/jcarne...ns/rccers.html


  #5  
Old July 19th 03, 08:17 PM
Bob Flaminio
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Buz Overbeck wrote:
My wife's parents just died and part of the estate is a coin
collection her father had been working on for many years. She tells
me the collection consists of "one of every coin minted in the US
from 1900-2000".


Every one? I guess we've found the missing 1913 Liberty nickel then!

(seriously, the other responses had some good ideas.)

--
Bob


  #6  
Old July 20th 03, 03:39 AM
Steven Preston
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No disrespect intended, but if you truly have one of every coin minted
from 1900-2000, then it's worth a not so small fortune. It is unlikely
that there is much gold in the collection and most of the coins prior to
1940 are very likely circulated (show at least some wear). I'm not
trying to sound pompous, this is just my experience in seeing
collections described the way you have described yours. Buying a
Redbook=99 is indeed an excellent idea. As a *very* rough guideline,
most of the dimes, quarters, and halves from 1940-1964 are probably
going to be worth around 3.4 to 5 times their face value. Use the
Redbook=99 to get a general idea of the collection's value and deduct
about 40% (again, basing that number on experience). If the value is
still over $500 after the deduction, take it to a dealer (if you tell us
where you are, we may well know of a dealer to recommend) and ask for an
appraisal wth the understanding you have no intention to sell (this
reduces the chance of a dealer "lowballing" you- and most dealers won't
and it's not always dishonest when they do; for example, a dealer may
already have a lot of the coins you have and so will pay less than a
dealer who's looking for the coins you have). You will be asked to pay
for the appraisal (most dealers charge anywhere from $30 to $50 an hour
and most will refund that charge if you wind up selling to them). If you
have any individual coins worth over $30 each, you may do better selling
those one at a time or as a group of "better" pieces- more work for you
but likely better money too. The remainder or "junk" (don't be offended
if you hear this used as it is usually not an insult- most lower grade
US silver coins from the 1940's oward is often called "junk silver") you
can sell on e-Bay as a bulk lot or to a dealer. These are all
generalizations of course, but I hope you find at least some of them
useful. Good luck.

-Steve, not a dealer but someone who has worked in a coin
shop both buying and selling

  #7  
Old July 20th 03, 07:13 PM
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I, myself, would keep them and not get rid of them. My personal opinion
though. It probably took your father in law quite some time to collect
all those coins.

Like you said, you haven't seen them yet so you don't know what to
expect. You could have a wide range of coins there with a wide range of
prices.

I definitely agree with the others, get the Red Book and take a look at
it. It will give you an idea of what they are going for.

Who knows, you may decide to keep the coins after you read the book.
bob

I wish someone had left me a collection.

 




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