My Dad was a coin collector starting when he was a little boy. Everyone who knew him brought any "coins" they found to him and he would find out about that coin for them. Some he was given and some he would buy for a fair price. Sadly he recently passed and I was amazed to find out he left his 60 plus years of collecting collection to me. I have been trying to inventory it (my Dad had a disorganized organization in that coins would be in bags and jars but he could go right to the COIN he wanted to show you) and am bewildered by some of the older coins. He has old German coins from his Grand-Dad that date back to the 1600s. I have decided to hold on to the core of the collection (the ones he collected individually) and pass them to my Children when I depart. The only part I am looking to liquidate is proof sets, circulated sets, prestige sets and commemorative sets. These Dad enjoyed looking at; but they were more of an investment and often gifts from us kids when we did not know what else to get him. I do not know any thing about coin collecting, but the bug has bit me. My question is how do I get good money liquidating the "gift/investment" U.S. Mint sets. I then want to start adding to the collection and trying to complete some of the penny and nickel books he left me with the money. Thus the title of this thread; I realize that there may be a easy and obvious answer. I feel like a little boy who just had the training wheels taken off his bike; who realizes it may be an exciting ride but scraped knees are in the near future.
Identify the sets then see what they're selling for on eBay. That should tell you where you're at, pretty much. You can sell them here, also, but first get that fix on value. For individual coins, let us see them, we'll help you out on the grades, then you find what they're auctioning at those grades and value them accordingly. How's that for starters?
I'm sorry you lost your dad . . . I dread the day I lose my own, but recognize it is an eventuality. As for your father's coins, you're smart enough to have made the decisions you've already made . . . a good head start in my book. It's pretty hard to get "good" money for proof, prestige and modern commemorative sets, as they were generally produced in huge quantities. The first thing you need to do is obtain a price guide which will identify not only their approximate RETAIL value, but also the years in which proof sets potentially contain rare error coins; particularly the omitted mintmark proofs. My guess is that your dad already checked them for such precious coins, but it's entirely possible he had not. If you have none of those, I think I can confidently say that you might get the fairest money with a minimum of work, by selling them to your local dealer. Selling online incurs fees and high costs of delivery because the sets are not small. As for circulated sets, again, the price guide will help you. Most importantly, be aware that common coins bring far less money from reluctant buyers (coin shop owners who want rarities to sell to their customers, and don't want the mundane) than from eager enthusiasts.
First, welcome to the neighborhood, Tony! I'm sorry for your loss. Unfortunately, you're going to find that the Mint Sets and Proof Sets were not a very good "investment". With only a few exceptions, you're going to find that most of them aren't selling for much. That isn't to say that there aren't some exceptions like the "No S" Proof Sets. Be sure to check the 68-S, 70-S, 71-S, 75-S, 83-S and the 90-S (including the Prestige Set) for any of the coins that are missing the S mintmark. These sets can sell for a substantial premium. Chris
I am sorry to hear of your loss. I'm sure your dad got lots of fun out of collecting coins. That is not the same as saying they have much dollar value. Most "investments" in coins and stamps have gone down, not up. My mom set aside sheets of 3-cent stamps back in the 50's. What are they worth now? LESS than 3 cents. You can find useable stamps over 50 years old on eBay for less than face value. @eddiespin mentioned checking eBay prices. That is a very good idea. The simple fact is that the secondary market for the items you mention is very weak. There are far fewer collectors than there used to be who want them; those sorts of sets are a glut on the market. @ToughCOINS was right that dealers want rarities and not common coins, and those sound very common.
The OP asked how he could liquidate his items. I was informing the poster that he could list on CT and possibly get someone to make him an offer on it. I wasn't offering to buy something from him or telling him to sell it in this thread. Lighten up!
I didn't suggest that you were making an offer, but this is the "What's it worth" forum. You made no attempt to suggest the B/S/T forums, and we get newcomers here all the time. You may be giving them the wrong impression. No! I won't "lighten up" as long as we have people providing misinformation. A little common sense helps! Chris
So, I am sure you made the same comments to those that suggested he go to Ebay then, correct? You might have said to the OP "Make sure you post them in the correct forum, though," after my comment if you were that worried about it, rather than assuming the mantle of CT police. Must have a ton of time on your hands.
You were the only one who made the vague comment which gave the impression that the OP could post here and maybe someone would make an offer. Chris
