What to do with these coins I found

Hello all,
This is my first post here. I'm not really a collector but recently found a lot of old coins in the basement of my parents' house and am trying to decide what to do with them. I thought I'd start with an inventory:
Mercury dime, 1939, 1
Mercury dime, 1942, 2
Mercury dime, 1943, 2
Mercury dime, 1944, 1
Roosevelt dime, 1946, 3
Roosevelt dime, 1947, 1
Roosevelt dime, 1948, 2
Roosevelt dime, 1949, 1
Roosevelt dime, 1951, 3
Roosevelt dime, 1952, 2
Roosevelt dime, 1953, 4
Roosevelt dime, 1954, 1
Roosevelt dime, 1958, 2
Roosevelt dime, 1959, 1
Roosevelt dime, 1960, 5
Roosevelt dime, 1961, 3
Roosevelt dime, 1962, 3
Roosevelt dime, 1963, 7
Roosevelt dime, 1964, 20
Washington quarter, 1939, 1
Washington quarter, 1944, 1
Washington quarter, 1946, 1
Washington quarter, 1963, 1
Washington quarter, 1964, 2
Walking Liberty half dollar, 1917, 1
Walking Liberty half dollar, 1918, 1
Walking Liberty half dollar, 1935, 1
Walking Liberty half dollar, 1936, 1
Walking Liberty half dollar, 1937, 2
Walking Liberty half dollar, 1938, 1
Walking Liberty half dollar, 1940, 1
Walking Liberty half dollar, 1941, 6
Walking Liberty half dollar, 1942, 7
Walking Liberty half dollar, 1943, 11
Walking Liberty half dollar, 1944, 1
Walking Liberty half dollar, 1945, 12
Walking Liberty half dollar, 1946, 5
Sesquicentennial half dollar, 1926, 1
Franklin half dollar, 1950, 2
Franklin half dollar, 1951, 3
Franklin half dollar, 1952, 7
Franklin half dollar, 1953, 4
Franklin half dollar, 1954, 5
Franklin half dollar, 1957, 3
Franklin half dollar, 1958, 3
Franklin half dollar, 1961, 7
Franklin half dollar, 1962, 9
Franklin half dollar, 1963, 15
Kennedy half dollar, 1964, 6
Kennedy half dollar, 1965, 3
Kennedy half dollar, 1966, 5
Kennedy half dollar, 1967, 1
Kennedy half dollar, 1968, 1
Kennedy half dollar, 1969, 1
Morgan dollar, 1886, 2
Morgan dollar, 1887, 1
Morgan dollar, 1889, 1
Morgan dollar, 1890, 1
Morgan dollar, 1896, 2
Morgan dollar, 1897, 2
Morgan dollar, 1899, 1
Morgan dollar, 1900, 4
Morgan dollar, 1902, 3
Morgan dollar, 1921, 12
Peace dollar, 1922, 1
Peace dollar, 1923, 1
Peace dollar, 1924, 4
Peace dollar, 1925, 3
Peace dollar, 1926, 1
Peace dollar, 1928, 1

The number after the date is the quantity.

I had to do some research just to figure out what some of these coins were since I'd never seen anything like them before, but based on the pictures I found online I think my guesses are fairly accurate. I didn't make a note of the mint marks but I can say that most don't seem to have any, so I'm guessing they're from Philadelphia, which doesn't surprise me since this house is in a suburb of Philadelphia. The only other mint marks I've seen are from Denver, and there aren't many of those. I haven't seen any from San Francisco or anyplace else.

This wasn't a formal collection, just coins in different labelled containers (like pill bottles) or in plastic bags, all in a tackle box. I think most of the coins were circulated, with the possible exception of some of the 1964 Kennedy halves which were still in little glassine (?) envelopes. However, some are still really shiny, even some of the older ones, which makes me wonder if they just weren't circulated much. My father's writing was on some of the containers and since the basement was his "domain" I think this was his collection, but he died more than 20 years ago so I can't ask him.

I'll be honest here. I'm not really looking to become a collector; right now I'm just looking for the best way to sell these coins. I know I could sell them for the silver but if they'd be appreciated by a collector I would rather go that route. I just need some advice on the best way to go.

This post is already really long so I'll stop now, but if you need any more information please ask and I'll do my best to answer. I do have a good camera with a macro lens setting so I can include some pictures, but with so many coins I'm not sure which to take pictures of! Just let me know. And thanks in advance for your help.

Meg

P.S. I also have some wheat pennies and some nickels but I haven't inventoried them because I was concentrating on the silver coins. But I can do that if needed.

 

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Are all of those coins Philly? Or do some have mintmarks?

Also, I'd suggest buying a redbook (they're around $12) and looking them up in there.
Also, post some pics of the better date/better condition coins here and folks will help you out.
And lastly, welcome to CT.

EDIT: After reading the whole post, I see that most are Philly. You'll still have to denote which have a mintmark (and which mintmark) as it definitely makes a difference.
As for selling them? There's a number of guys from your area on the forum here. Maybe they are interested or can suggest a place.

 

Thank you for your quick answer, Lon. I'll try to go through the coins again either today or tomorrow for the mint marks, and get some pictures posted here. But I have to ask: What is a "redbook" and where would I get one?

Meg

 

Meg,

Without knowing conditions, an accurate value is really impossible.
However, if all of them are circulated and we are to assume they are only worth melt value, then here is the value:
40 dollars x 20.84 = 833.60
126 half dollars x 9.74 = 1227.24
6 quarters x 4.84 = 29.04
64 dimes x 1.95 = 124.80
total $2214.68

You should be able to get close to that or even a little more if you sell the entire lot on ebay. Keep in mind the ebay fees.
If you broke them into smaller lots, or sold some, like the walkers, separately, then you could probably get more. It really depends on what your time is worth.
If you go to a dealer, jeweler, or pawn shop, you can expect to get significantly less.

-greg

Hope that helps somewhat.

 

Welcome!!! ( lets go PA ) it looks as if you have a substantial collection, as for selling I would go around with this list to different dealers and see you will offer you the best deal. *** It would help if you have a friend who is a collector check for any nice MS coins, toned coins and or errors/varieties ***

 

http://www.amazon.com/The-Official-...id=1340297558&sr=8-1&keywords=red+book+yeoman
The 2013 is about $12, but you can get older versions for significantly less. The price guide in it isn't super accurate anyway, and you probably don't care about recent mintages so if those are only accurate up to a few years ago that should be ok.

 

Thank you, Greg. I did look into the melt value and got just about what you estimated (the difference was probably the price of silver that day). I also talked to a local "We Buy" dealer that I've sold other silver and some gold to and he said they pay $16 per $1 face value, plus some extra for one of those types - I think it was the Morgans - which would have come to a bit under $1700. I wasn't surprised this, I know they need to make a profit, and they've been good to deal with in the past. And that would be the easy way to go - but maybe not the best.

eBay is a possibility, especially since I don't have a car, which makes getting around this area (which I don't know well anyway) hard for me. But I'm not sure how to group the coins if I decide not to sell the whole lot, plus I don't know what supplies I'd need for that. (Probably the old pill bottles wouldn't work .) I did a bit of online searching but was kind of overwhelmed by all the information I found, so if anyone can suggest anyplace simple that would be really helpful. If I'm going to sell that way I'd like to know how much the supplies would cut into what I'd make from the coins.

Meg

 

I did send the inventory to the "We Buy" place I've dealt with in the past, but haven't heard back. I also tried an online search just for coin dealers but couldn't find much in this area, but it probably doesn't matter since I can't get to a lot of places anyway (the 'burbs are notoriously void of public transportation). And I don't know anyone who is a coin collector.

I do have a question. Is there a glossary somewhere? I've never heard of a lot of the terms being used here, like "MS," "toned," "walkers," etc. and it would help me to know what those are without having to keep asking.

Thanks!

Meg

 

One bit of information. I'm not sure if Greg counted your 40% Kennedys as 90%, but if so the half dollar value will be a little different. Kennedy halves 1965-70 are 40% silver. So they aren't worth as much.
Up to date values on coin types here: http://www.coinflation.com

And I would suggest not going to a We Buy Gold place. If you can find a coin dealer, you should be able to fetch a better price. You could even try craigslist, but be careful with that.

EDIT: And this item "Sesquicentennial half dollar, 1926, 1", don't sell that for melt. Depending on the condition, that could be worth a bit more.

 

The one that sticks out is that 1928 peace dollar. If it doesn't have a mint mark on the reverse, that's a good one!

 

Good catch Lon, I did not account for the 40%ers.

 

I'd just keep the coins the way they came to you for now and check your inventory against the Red Book for relative values. Make sure you update your inventory to include the mint marks before you do that. Post pictures of the ones you'd like grades on and we ought to be able to take care of you, there, as well as tell you which ones, if any, have problems. There's no rush. Just make it in the next half-century or so as not all of us have plans to be here longer than that.

 

Yes - I knew the '64 Kennedys had a higher silver content and so were worth more; Coinflation is the site I used to figure the values I had. (And I'm sorry I keep adding information - I just didn't know what everyone wanted to know.) Craigslist - I haven't had much luck with that lately for anything, plus I'm not sure I'd trust it for selling coins. Has anyone here used it?

About the Sesquicentennial half dollar - well, it's the one coin I was thinking of keeping, just because of the history and because it's so cool . But I suppose it will all depend on what I can get from the other coins. I may also be able to hold onto some if the values are due to go up; I do need some cash but not as much as even the melt values would bring.

I want to say here that I really appreciate all these answers. I tried asking about this on another forum and got only one reply, and after I replied to that - nothing. So it's really nice to find so many people willing to help, even during the day during business hours.

Meg

 

Hey, thanks kookoo. I'll check it out later and let you know what I find.

Meg

 

That's why we're all so willing to help. It keeps us busy doing things besides actual work!

 

I have used it and have never had a problem outside of the occasional scammer trying to get me to accept a third party check for more than the amount of the coins and send the coins together with the difference, etc.

So far I have primarily been buying on craigslist, but selling would actually be safer because you don't have to worry about counterfeits. My strategy is to meet the person at my bank where I examine the coins and we discuss price. I then withdraw as much money as I need and I buy the coins.

It works the same when you're selling, except that they bring cash or you meet at their bank where they can withdraw cash.

When selling locally on craigslist, cash is king. Do not accept any checks or money orders unless you know and trust the person. I've seen some very good forgeries of checks/money orders/postal money orders, etc. If you want to see some, just respond to the scammers offering to buy your wares in the way I mentioned in the beginning of this post. Don't try to cash them or you'll likely be charged a fee for bouncing a check. Just hang them on your "wall of shame" and use them for future reference.

 

Welcome to the forum! Also make sure to check the 1938 half dollar for a D mintmark.

 

Hi, Meg!

Everyone pretty much covered what I would have said. No, you really don't need to buy a Red Book if you have no interest in collecting. The price guides in the book are overly optimistic retail values. I wouldn't suggest that you sell the coins to a "We Buy Gold" shop, either. You would probably get a better price from a reputable dealer.

I don't know if you would be able to find any reference that covers ALL of the terminology used in numismatics:

The term "Walker" refers to the Walking Liberty half dollar which was struck from 1916-1947. Many of the coin designs are given shortened names by collectors, and these are not often referenced in any guide. "Rosie" would be the Roosevelt dime, 1946-to date; SLQ refers to the Standing Liberty quarter dollar, 1916-1930; Merc is the Winged Liberty dime, 1916-1945, and the Morgan dollar, 1878-1904 + 1921, is properly known as the Liberty Head Dollar, but it was designed by Mint Engraver, George T. Morgan.

The term "Mint State" is commonly abbreviated "MS" and it denotes the condition of a coin on the Sheldon Grading Scale. Coins can be graded Poor (PO), About Good (AG), Good (G), Very Good (VG), Fine (F), Very Fine (VF), Extremely Fine (EF or XF), About Uncirculated (AU) and Mint State (MS) means that the coin is in an uncirculated condition.

Toned coins have developed a very strong following over the last 20-30 years, and oftentimes they can sell for multiples of any catalog value for the same untoned coin. These coins, often called "toners", can take on a vast array of color schemes from rainbows to pastels depending on the method of storage that was used. The Morgan in my avatar is just one example of a toner.

Chris

 

If you can wait two months, I would take them to the Worlds Fair of Money, one of the country's biggest coin events, right there in Philidelphia. You will find buyers from all over the United States, and foriegn countries, represented on the selling floor. It starts August 17th and runs for 5 days. This will give you enough time to do your research and then just walk from table to table getting prices. Most will have cash on hand or can issue a company check right on the spot. Ask how long they have been in business and also for references, if you have a concern. I think you will have no problem getting a fair price with that many dealers present. (Over 500)

 

Or check your local library for the book