I've posted before about how I was given my dad and grandmothers silver dollar collections. All of them are common dates and most of them are lower grades. I've started thinking about possibly selling the ones i don't need to a local shop and buying some of the more semi key date coins with the proceeds. My grandmother died many years ago, but my dad is still very much alive. I don't want him to feel like i don't appreciate the coins because i really do, but at the same time, silver is so high right now that they may not be worth this much again and i have an opportunity to possibly buy some coins that will be worth much more than melt for decades to come and really jump start my collection. What do yall think? Am i being ungrateful?
Sell 'em. But unless your local guy is giving you good prices, I'm sure you could get more elsewhere, such as ebay or here on CT.
I would sell them and buy what makes you happy. I am sure others will disagree with me due to sentimental value, but as long as you keep at least one coin to remind you that may help ease the guilt. I would be happy for my heirs to sell my collection someday and buy something they really wanted especially if it was still in numismatics as you are doing. TC
I wouldn't care if my heirs sold random silver coins I came across over time. I've got rolls upon rolls, so... I'd hope they'd keep the slabbed Morgans as a heirloom and hand them down.
This exactly happened to me. My dad is very much alive but gave me his collection. I did sell rolls of silver and used the money to complete full sets and purchase other coins. My dad is VERY happy that I got involved in collecting. So if your dad was a collector, I bet he may feel the same way.
Follow you heart and know that once done, you have to live with and defend/explain your actions to your dad. Honestly, it might be a good idea to sit and have a honest and open conversation with your dad before making any decisions. Who knows where that will lead. Good Luck
Good idea Darryl since it,s obvious there is way more sentimental value here then actually making You rich i would consider holding on to them!
Just my opinion, I'd keep one coin to represent your dad, and one to represent your grandmother. The rest I would sell or trade towards the upgrades that you wish. If you work with your local coin dealer a little bit, he may give you a better in stor credit than cash payout, if he has a coin you are really interested in.
Have you actually discussed this with your father? I think it's his opinion that counts more than any of us here. What does he think? As a father and grandfather, I can give you my take on this, from that perspective. I would think if you're selling it off to buy crack, just give it back. If you're looking to finance a college education, then shop it around and see if it's worth it. If you're looking to sell off some to add to and enhance the collection, then by all means do so. Again, shop around for the best prices. This is exactly what I would tell my own kids. If I'm gone, they can do with it what they want. If I'm still here, then I'd like to see them continue with what I started. Though my kids aren't interested in collecting, my 3 year old granddaughter loves to help me with the coins. But my thoughts on what they do with my collection (after I'm gone) has always been that I will never make a large amount of money by selling what I have, but if they opt to sell it off all the proceeds from the sale will be profit for them, as they have nothing invested in it. This is one of the reasons I collect.
No I havent discussed it with him yet but I am definitely planning on it before I do anything. I guess I just wanted some reenforcement from some of you guys that I wasn't being ungrateful.
If you wish to sell some of the common, lower grade stuff in order to add to the collection, this, IMO, is what he should (I know I would) expect you to do. Several have posted about the sentimental value of the coins, but it's not the coins themselves, but the TRADITION of collecting that would mean more to him.
I sold a silver dollar my grandfather gave me, and a F+ 1840 Seated Liberty dime my grandmother gave me, many years ago-- and I have been regretting it almost ever since.
I would tell your father what you're thinking of doing and ask his advice. He's likely to be happy you're seeking his advice and evolving the collection. If not, he'll tell you. He won't be around for ever. Talk to him while he still is.
Sentimental feelings aside, you should also take into consideration that numismatic coins take a long time to make a return on your investment-- and sometimes they never live up to their potential. I've been going through some old Coin books and magazines from the '60s and '70s, and am amazed that some of the "hot coins" back then have turned into duds. For example, in 1969, the 1968 proof sets were selling for as much as $12-13. Now they're only half that. Also, 1955-dated coins (pennies, dimes, quarters, halves) were all the rage back then, but now most of them are considered to be run-of-the-mill stuff in grades less than Unc. The 1950-D nickel and 1958 quarter are also coins that were considered to have a lot of potential back then but are now just a shell of their past glory.
I know at various times in my youth I contemplated selling the coins given to me by my grandparents. Now that I'm a bit older I'm happy I didn't. Do what you think is right.
My father died when I was 7, but he introduced me to coins a year earlier. This past year, I was looking over the two Whitman folders of Washington Quarters he had assembled. I talked to my mom about them. They aren't the quality I've come to desire. I've put together a nice, white MS63-66 set of Washington quarters. When I was down to three holes left... I began thinking about the roll and a half of average circulated quarters from my father's collection. My mom made a good point in saying that she thought my dad would have loved to sell his coins to buy me a nice one. I found that easy to believe, even if it may have been greedy thinking. I know that whenever I look at my nice PCGS MS63 1932-S 25c, that I think, "Thanks Dad." It's a great example too. There's a wonderful scratch on the back. I say wonderful, because the obverse is a solid MS65 coin. That wonderful inconsequential scratch on a wing knocks it down to a wonderfully affordable MS63 deal! Thanks again Dad.
There's some great advice here from some worldly guys. I agree that you should keep a couple in their honor but sell the common and low grade to improve your collection.I'm upgrading everything I can in my collection but have plenty of others that I consider just bullion or trade value.My kids are too young to learn that distinction but I wouldn't care if they sold items to improve the collection.
You could consider selling just the lower grade junk silver, but keep all the coins in better grades. Its your call.
