Hi, this is my first post here. I'm not a coin collector, but I've had a situation thrown at me today and I don't know what to do. I've spent the last few hours doing research. I'm apprehensive about going to a local dealer, and I'm hoping someone here can give me some advice before I do. Today my grandmother gave me a box. In it were 42 "Morgan" silver dollars (the oldest dated 1879), 16 "Peace" silver dollars, 5 Kennedy half dollars, 15 nickels from the 1940's which I can't see anything special about (excepting that 2 of them are VERY worn buffalo/indian nickels), and $18 in silver certificates. Apparently, my grandfather, who died in 1976, collected it all and wanted me to have it some day. I guess today is "some day". Most of the silver dollars look pretty good but tarnished, like a swipe of the stuff my wife uses to clean her good silverware would make them look almost new. Some are a little worn, but none look really trashed like the buffalo nickels (I can't even read the date on thoses). The silver dollars are mostly minted in Philadelphia, and some in New Orleans. One in Denver. I'm interested in finding out if it would be worth it to try to sell these things, or if I should I just hang on to them for another 30 years until I retire? From what I've read it seems the silver dollars might be worth 10-$15 each, the Kennedys maybe $4 each, and I have no idea what's up with the nickels. Does that sound right? Should I try to clean them up? What would I use? Should I take them to a dealer? Should I just hang on to them? Any advice appreciated, and thanks in advance!
"Most of the silver dollars look pretty good but tarnished, like a swipe of the stuff my wife uses to clean her good silverware would make them look almost new." Don't! Hang on to them until you retire. And until then learn about what you have. These belonged to someone who wanted YOU to have them.
I'm fairly new to collecting but I do know some of the basics. The first thing you did right is coming to this forum! There are lots of people here that can help you. Anyway here goes: #1 DO NOT CLEAN THEM! EVER!!!!! You'll destory the coin in the eyes of a dealer or collector. #2 Get the red book price guide for American Coins. #3Educate yourself about the value of the coins you have if there is any before you go to a dealer #4 Don't PANIC everything will be fine, as I said there are lots of good people here that can help you out. Question: Do any of the Morgans hav a CC mint mark? You will find it under the eagles tail.
Deffinately don't clean them. That would do nothing but greatly reduce their values. As for what to do, that depends on you. If you want to keep them as a keepsake because they were in your family, then do that. If you want to sell them, you might want to try the open forum here, or find a collector in your area who can recommend a reputable dealer. Guy~
I agree - do not clean them at all - not one of them. I also agree you should get a redbook and maybe the ANA grading book. So of those coins could be worth more than 14-15 depending on the grade, date and mint mark. So take some time and learn. Selling is a choice you can make later on after learning some more. Coin collecting is not for everyone and I am sure your grandfather would understand. So just take your time to make the right decisions.
Again, no cleaning. Keep them safe, learn about what you have, then you can decide what to do with them.
You can also start posting pictures of them one at a time here and get some expert opinions for free. Richard
Unfortunately, no. Most have nothing, which I read means they were minted in Philadelphia. A few have "o" for New Orleans. One has a very small "D" for Denver.
I think my grandfather collected them as investments rather than enjoyment, believing they'd be worth something some day. Still, I felt a bit overwhelmed looking at them yesterday. Especially the ones from 1879. They're almost like a piece of history. That was only 14 years after the Civil War ended. Even if I sell most, I'll probably keep a few. They're really interesting.
You could have some really nice "special", or key, dates in there, so don't go to a dealer, especially if you are new to collecting, becuase he could trick you. FIRST, find out what you have. See if you have any good key dates, and any rarer ones, and then you'll find out that some values are much higher than others. You have the internet, so research!
Hmmmmmm.........do I sence a future coin collector? :hatch: After what we have read here you should keep the coins. I think you might really regret getting rid of even one of them. Get a few air-tite coin holders and enjoy. Do a little research on them you'll find it very interesting. I too am a history nut and it is probably the main reason I started collecting. :smileWelcome to the crazy world of coin collecting!:smile
One of my favorite coins is a 1863 Indian Head Cent. Not of any real value but to me it's worth more than all my other coins, why? 1863 The Battle of Gettysburg. It is just so amazing to think that this little peice of copper was around back then. Who knows......maybe it was in Gettysburg during the battle! Not likely I know but hey no one can say that is wasn't there right!
To start with WELCOME TO THE FORUM. Most forgot to say that. As already fairly well noted about not cleaning any of them but here is my 2 CENTS: 1. Do not clean any of those coins 2. Do not take them to a coin store and ask if they are worth anything. 3. Find out where you can acquire a thing called the Red Book by Whitman Publishing. Usually decently priced on the Walmart Books web site of Amazon.com 4. Look up each coin when you acquire that book. Ignore the prices listed. those are as a rule 20% over actual selling prices. 5. Ask on this web site for a on line dealer that sells coin holding or stocking supplies. I usually get all mine from coin shows but some on this web site have some great references for on line dealers. 6. If your coins are all raw, meaning not in any type holder, purchase soe of those 2x2's for those coins 7. Place as many in the 2x2's for now to protect them until you decide on thier fate. 8. I would suggest you keep them all for now at least. Possibly you could start a family tradition of a handmedown of something of both value and family history. 9. If you decide to keep them, and in those 2x2's, you may want to acquire some of those plastic pages that hold 20 of the 2x2's. Then you could place them in a 3 ringed binder, add pages with some history about the coins and when you got them, from who, etc. In other words you start a family tradition. 10. Unless you need money drastically now, keep them all. Coins are really a great thing to pass down. That is what someone already tried doing to you. 11. Don't worry about them anymore and send them to me. I'll take care of them and for free.:goofer: And this is why they have those silly faces on the right.
Listen to Carl. Also PLEASE PLEASE don't clean or wipe the coin in any way. They might not look good to you but the original toning on the coin makes it worth more money. I would also suggest keeping the coins. Your grandfather most likely wanted you to have them, not sell them. They were special to him, and you were special to him, so you should respect his gift and take care of it.
