Inherited coin collection

khs · 12-31-2003, 07:18 PM

I just recieved my grandfather's world coin collection. Its been stored in 2x2 mylar flips which were then placed in some kind of plastic sheet the size of notebook paper. Some of these sheets are discolored and feel a bit slick. There are also a few sets of coins that were stored in small plastic cases on some kind of foam. The foam has started to rot. There is also a cardboard folder of old Japanese coins and the coins have been glued down. In total there's about 120 lbs of coins. The collection has never been inventoried or valued. I have a few questions -

1. I've been looking at some software from Carlisle Development that says it has a world coin database available. Does anyone know anything about it? Is it worth the $200 they're asking. I'd like to get an inventory done ASAP and typing all of it into Access or Excel is not appealing

2. What's the best way to start valuing the collection. Some of the coins go back to the 1700's.

3. I'm not sure what the origin of the sets are. I'm afraid to open the case in case there is some value to having the original packaging. They look like they could be mint sets from some South American companies.

It seems like I should start by making sure the coins are stored properly before anything else. Correct?

Thanks

Tbirde · 12-31-2003, 11:57 PM

The plastic pages, foam, and possibly the flips, may be deteriorating and breaking down chemically. The resulting PVC (polyvinyl chloride) will ruin the coins, eventually giving them a corrosive green goo coating. A rinse in nail polish remover may initially help but you don't want to rub them or harshly clean them in a way that 'shines' them up. Others may suggest better methods.
Forget the software, for now anyway. A trip to the library may produce a copy of the Standard Catalog of World Coins in the Reference section. The 20th century volume may be the only one available there, though. You can also find used copies and earlier volumes at a decent price at Ebay.com and Half.com. List the coins by Country, Denomination and Date on a paper to take with you first. Excel is a good way to organize them also. You can also offer the list, in whatever format, to people online that have the neccessary catalogs and would be glad to help. I'd leave the sets as they are if they are sealed until you find out more about them.

Brad

Quote:

Originally Posted by khs

1. I've been looking at some software from Carlisle Development that says it has a world coin database available. Does anyone know anything about it? Is it worth the $200 they're asking. I'd like to get an inventory done ASAP and typing all of it into Access or Excel is not appealing

2. What's the best way to start valuing the collection. Some of the coins go back to the 1700's.

3. I'm not sure what the origin of the sets are. I'm afraid to open the case in case there is some value to having the original packaging. They look like they could be mint sets from some South American companies.

It seems like I should start by making sure the coins are stored properly before anything else. Correct?

**GDJMSP** · 01-01-2004, 07:08 PM

khs -

You are correct about the storage issues and like many before you - it seems you are looking for an easy way to catalog & value your collection. Well I'm sorry to tell you there really isn't an easy way. Some ways are easier than others but they all require a good deal of time & effort.

Tbirde makes some good suggestions for you to start out with. But a collection that weighs 120 lbs. is a lot of coins. Even writing them down on paper would be daunting. I am not familiar with Carlisle's software but I have heard of it. It may well make it easier to complete an inventory. But when it comes to values - well that's another story.

First of all there is no really good source available for world coin values. The Krause catalogs that Tbirde refers to are often way too high or way too low depending on the coin. The majority of other coin catalogs are the same. And the same can be said for the various coin software programs. About the only method to value world coinage is to do the research required - on-line auction sites, live auction realized prices etc etc. I know you don't want to hear this - but I'm afraid that's the way it is.

But perhaps your biggest obstacle is not finding accurate values - but for you to be able to grade the coins yourself. You see a coins value is entirely dependent upon several things. The mintage, the mint mark, its popularity or demand for the coin and most of all the condition or grade of the coin. Even if you know all of the above but you cannot accurately grade the coin - you will not be able to determine its value.

As an example - a given world coin in F or Fine condition may be worth $5.00 or 50 cents. But in Uncirculated condition it may be worth $1,000.00 or $5,000.00. That's the problem you would face.

Bottom line - there is no fast and easy way to either catalog or value a collection. And if you choose to have someone else do it for you - that's not cheap either. Prices for these services can vary from a percentage of the total value to a straight hourly rate. Both can add up quickly.

But if you care to invest the time and effort and do the research you can accomplish your goal. Another Tbirde's suggestions is a good one - ask members of the coin forums. Having photographs to be able to show the forums is the best way so that they can etimate the grade of the coins. It also helps greatly in indentifying them. The members of the various forums, including myself will be more than willing to help. But you have to help them help you.

joejoe · 01-13-2004, 06:30 PM

I know someone with an inherited a large collection also. Have you come up with anymore information on a software to use to help inventory the collection? Also, does anyone know of a service that handles these situations for a fee? Thanks for any feedback

laz · 01-14-2004, 06:41 AM

Almost any coin dealer will do appraisal's for a fee

the thing is,foreign coins are seldom worth big bucks. You might be better off purchasing a second hand copy of the Standard Catalog of World Coins from Ebay and looking things up yourself. Most prices don't change much from year to year. Good luck with your collection. ~ Jim

joejoe · 01-14-2004, 02:06 PM

Quote:

Originally Posted by laz

Almost any coin dealer will do appraisal's for a fee

the thing is,foreign coins are seldom worth big bucks. You might be better off purchasing a second hand copy of the Standard Catalog of World Coins from Ebay and looking things up yourself. Most prices don't change much from year to year. Good luck with your collection. ~ Jim

Thanks for the info. What is the best way to sell the collection after it has been appraised? Online, local dealers, Ebay? Any suggestions? This is all new to us and we do appreciate your feedback. There is about 180 lbs. of coins to go through, mostly American. By the way, has anyone heard of the Pikes Peak gold coins?

Ben_Bovas · 01-14-2004, 03:47 PM

Quote:

Originally Posted by joejoe

By the way, has anyone heard of the Pikes Peak gold coins?

Joejoe,

If you're talking about the Clark Gruber and Co. privately issued gold coins depicting (rather poorly) Pikes Peak, and declaring "PIKES PEAK GOLD" on the reverse; I know a thing or two about them. I also know several dealers and serious collectors of such items. What do you have?

Respond privately if you wish.

Caution: There are counterfeits out there!

laz · 01-14-2004, 07:20 PM

Ebay is a good venue to sell your collection after everythings ready.It'll take some time to get everything done. Selling everything outright to a coin dealer is faster but you won't get as much for the coins.It's just alot faster than selling it off one piece at a time. ~ Jim

joejoe · 01-17-2004, 10:02 AM

Quote:

Originally Posted by Ben_Bovas

Joejoe,

If you're talking about the Clark Gruber and Co. privately issued gold coins depicting (rather poorly) Pikes Peak, and declaring "PIKES PEAK GOLD" on the reverse; I know a thing or two about them. I also know several dealers and serious collectors of such items. What do you have?

Respond privately if you wish.

Caution: There are counterfeits out there!

Thanks for the reply. I know there are two Pikes Peak coins and they look like they are in excellent condition, 1880s I believe. I will have to find out more about them when I go over to the place where they are. I will let you know more when I find out. Thanks again.

joejoe · 01-17-2004, 10:04 AM

Quote:

Originally Posted by laz

Ebay is a good venue to sell your collection after everythings ready.It'll take some time to get everything done. Selling everything outright to a coin dealer is faster but you won't get as much for the coins.It's just alot faster than selling it off one piece at a time. ~ Jim

Thanks Jim. I don't believe there is a big rush to sell the collection so I believe that Ebay may be the way to go. Thanks again.

laz · 01-17-2004, 06:03 PM

Jim, I agree,as long as you have the time,it's the best way to go in order to achieve your maximum value. ~ Jim

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