Pre-midlife crisis when it comes to coins

Discussion in 'Coin Chat' started by hotwheelsearl, Oct 19, 2016.

  1. TommyP

    TommyP BS detector

    You had to insure it for 300.00? Surely it didn't cost 300.00 for one coin? I was told by my insurance I had to carry a separate rider. That's all I know at this point until I'm done inventorying everything (which could take eons given my quantity).
     
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  3. hotwheelsearl

    hotwheelsearl Well-Known Member

    Do you need to ID each and every coin? If not, then I would just ID the more-valuable-than-usual ones.
    So you would ID your 1889-CC morgan but then if you had a bunch of common dates you would just say 50x BU Morgans (since common dates are all worth about the same)
     
  4. TommyP

    TommyP BS detector

    I don't actually know yet. I was waiting until I got my actual inventory complete and graded (which presents problems right away, for me). I was told that unless each is documented that I couldn't ever claim anything if it were lost. Don't know yet though. Not sure how it works.
     
  5. hotwheelsearl

    hotwheelsearl Well-Known Member

    I use CoinManage software, it's the fastest way I've found to get them all in one place with approximate (book) values
     
  6. TommyP

    TommyP BS detector

    That's exactly what I'm using. The price does seem to vary from grade to grade (of course). My grading skills need work but I have to start somewhere. I try not to over grade and try to think of them critically as if I was a buyer negotiating a price but, it's tough to 'go low' on your own stuff.
     
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  7. GDJMSP

    GDJMSP Numismatist Moderator

    In regard to insuring your coins - far and away the best thing you can do is to join the ANA and then purchase the coin collection insurance they offer through Hugh Wood. It is but a fraction of the cost of insurance through regular insurance companies, the coverage is several times better in multiple ways, and there are not hoops you have to jump through to qualify for the insurance. For example, inventories are not required. And if you ever have to file a claim, it's simple, easy, and fast.
     
  8. Eaglefawn

    Eaglefawn Active Member

    Thankx GD I certainly will look into this opportunity!
     
  9. TommyP

    TommyP BS detector

    Thank you much! I certainly will check that out when I'm a little closer to placing a value on exactly what I have. Like I said, I went crazy on ebay, local dealers, had a friend get me coins through his connections, etc. I have tons of foreign coins as well (many are in 2x2's with prices affixed to them already that I picked up cheap, some of which I've found way off). So, when ready, I will and I appreciate the info!
     
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