Grandpop gave me a bag of coins!

Hi all,
My Grandpop used to work at a bank and as such saved a bunch of coins during the years…I was hoping to get an idea of the best approach for valuing the collection.

the 2 that I found that seem valuable:
1914 $2.5 gold Indian (I’ll post pictures if anyone would be able to estimate the grade…but my picture skills are probably not up to par )
1881 $5 gold coin

but then I also have a lot of rolled 1964 Kennedy halfs- around 100 coins
~30 Franklin half’s from 48-57
And some ‘76 dollars and half dollars
These are likely all Philadelphia Mint - are there any ways a novice could inspect for rare defects or tips to avoid getting ripped off?

 

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First off- keep them. Considering that they belonged to your grandfather, on top of numismatic value, they also have sentimental value. Nearly all of those coins contain precious metals, the '64 and earlier are 90% silver. The '76 dollars and half dollars aren't terribly valuable (Unless they are proofs or silver proofs) but keep them in either case. If you want to be sure of the mint mark, check the obverse (heads) side of the coins, near the bottom of the portrait. There should either be a D or nothing for Philadelphia, if it's a proof it'll have an S mint mark. To keep them safe, I'd recommend 2x2s for a cheap option, (I use these exclusively) otherwise there are plastic holders that you can buy that are a little more expensive. If you really want to get expensive, you can get a dealer to submit them to a TPG (Third party grading), although that's for very valuable coins, as in upwards of 100 dollars. I'd say the golds are above that, however. In terms of mint errors and such, I don't know much. Other members here will know what they're talking about on that subject.

 

Thanks Noah, but just for the record, my Grandpop gave them to me and said “sells these and don’t get ripped off!” Haha

 

God bless our granddads. My grandad was key to getting me head over heels in love with old coins fifty years ago.

I would like to address that 1914 gold quarter eagle. That is one of the better dates in the series and has more value than other more common dates. Please don't be tempted to handle, rub, clean or wipe that coin.... This series is difficult to judge from photos because the design is incuse, or struck into the coin however it appears to be a better grade piece, but the only way to properly judge that is in hand..... Now here's the other thing. Over the years, these gold Indians have been heavily counterfeited. It would be worth the expense of having that piece professionally graded and interred in plastic. Both for the protection of the coin as well as the ability to sell the coin down the road. Serious numismatists wouldn't consider buying that coin unless it was authenticated.

Welcome to the addicting world of coin collecting!

 

Absolutely, just study up on them.

 

Sweet gold. Wow you are so lucky. I would put sentimental value so high that I would never sell them. Let see pics of the $5 dollar gold coin too. If you have to sell them because of hard times then I understand that. Been there done that.

 

Super nice! Resist the urge to sell anytime soon... you might regret it for either sentimental reasons, or that they will be 'the ones that got away' if you decide to collect later on. (AND grandpops will be happy).

m2c (and speaking from experience)

 

FYI, that 2.5 dollar gold does appear to have a D mintmark (reverse left of the arrow heads). I own the same date and mint. It is actually a bit more common than the mintmark-less philly issue of the same year. (448,000 at denver, 240,000 at philly)

 

Welcome to CT. Get addicted and have fun.

 

I'm going to have to gently disagree with those who say keep them. If your grandpa said sell them and don't get ripped off, and that's your goal, then it sounds like you're on the right track. You might want to go to Numista (website) and post specific pictures here to assess any potential valuable errors / coins. It will help you a lot if you learn as much as possible prior to selling. You may also want to sign up for Greysheet for values - and check "sold" values on eBay - one member of this site recently noted they'd sold most of their Peace Dollars at about 15% above Greysheet prices based on using that value as a base and eBay sold values (on average) to adjust same. When you're ready, I use eBay (which takes time - good pictures are important, and remember to factor in the costs for eBay fees and shipping), but you might consider consulting with a Local Coin Dealer - or better, a couple of them - to get an estimate of value and consider consigning all or some to them. There may be other contributors here who have even better ideas or alternatives. I don't sell often, I was buying and selling a bit a couple years ago when silver prices were cheaper. Things have gotten a bit pricey for me. Congratulations on the collection and having such a great grandpa!

 

In that case, I would take MIGuy's advice.

Also, I'd get the 2022 Red Book to look at the prices of your coins and approximate grades. The Red Book would be a good investment if you continue collecting, rather than for one-time information if you're selling. The Red Book has retail values of coins, while the blue book has wholesale values. I got mine and it's helped me approximate the value of my collection, so I'm hoping it would help you, too.

 

I second the motion to pick up a Redbook. It is the easiest to use resource book we coin collectors have. And they aren't expensive at all.

 

As @Noah Worke posted, the Red Book can be picked up cheaply enough and gives you valuable information about the coins. Don't pay much attention to the listed prices as they are out of date the minute the book was printed. You can certainly use them as an approximate value, as Noah said.
Welcome to CT and good luck.

 

You can make that much money so many times over in one year of your life but you can't get back the coin itself that came from your grandpa. What are you going to buy with the money that means more and lasts longer?

 

While some/all would make a nice remembrance, if you want to sell them, go ahead. Everybody has their own opinion, but ultimately, it's up to you.

 

Get the gold certified by PCGS or NGC.

 

Nice haul there. Keep the gold, a few JFKs, one of each date/mintmark of the Franks and sell the rest.

 

I wish I had a grandfather that collected coins. My father's father was a retired postal carrier, and my mother's father used to make 'shine, but he had to leave Tennessee and move to Indiana, where he became a poor farmer. I did get of odds and ends coins from my father, but most of them are in poor condition. All of my grandchildren are girls and aren't interested in anything but boys now. Maybe I will be buried with them.

 

My grandpop sold the coins he inherited from his mother. Morgans from the releases in the 50s and 60s. There was gold and other silver... my mom asked him to show me the coins once when I was about 10. That's when she found out he sold them. She was not happy about that. I'll never forget it. And my grandpop didn't NEED the money.