My dad passed away last year and left me his collection. I just now have gotten the time to go thru it and I am overwhelmed. He has alot of stuff, I can not describe it all here. What is the best way for me to get a handle on what I've got and what it is worth?
Get a redbook: http://www.amazon.com/Guide-United-...=pd_bbs_2/104-1155802-2870368?ie=UTF8&s=books Also go through it and make lists of what you find (date and type) . if you find something strange or need more information take some pictures and post them, we may be able to help you out. and do NOT clean any of the coins? no silver cleaner, or washing! you can destroy a coins value that way! oh, and welcome to the forum!
*****Dito on what Ranchhand said******** If the coins are not in mylar flips then make sure to not touch the surfaces with your fingers..you will leave your prints behind!! Separate them by denomination and protect them. If any are slabbed in plastic then not to worry...Segregate them and look at several resources for value. There are alot of people on this fourm that can help and will if asked. Many of them should be Pro's and could if they wanted to be... Good luck!! RickieB
Hi Peter, and to CoinTalk. If your coins are all US, your starting place is with two fairly inexpensive books, a jeweler's loupe, and lots of coffee/tea/beer/whatever. The boods are A Guide Book of United States Coins 2007, also known as the Redbook, available at just about any bookseller, coin store or hobby shop; and Photograde, also widely available. Try Amazon, Barnes & Noble, etc., for on-line sellers. If any of the coins are uncirculated, or nearly so, and they are not in individual holders of some type, you should also invest in a pair of cheap white cotton gloves to hold them with. Even wearing gloves, touch only the edges. (If you think any of the coins are dirty or tarnished LEAVE THEM ALONE!) Pay attention to the Redbook prices solely as a guide to which ones are worth face value (or bullion value if they are silver or gold), those worth a little more, and if you are vey lucky, those worth a lot more. Do not rely on those prices as actual values, since the values fluctuate almost daily; but the Redbook is reasonably accurate on relative price ranges. If there are world coins (anything other than US or US controlled Phillipines) you want to visit your local public library to consult the Standard Catalog of World Coins for attribution and some idea of price range. The SCWC's price accuracy varies significantly from country to country, as well as sharing the Redbook's condition of listing last year's prices, not the current ones. If you run accross any that you can't attribute, feel free to post pictures here, and in almost (if not in all) instances there will be one or more members with the expertise to assisst you. At least for the US coins, there are pricelists that are published with enough frequency to be fairly accurate, which you can obtain after you know what you have. After you have sorted, listed and attributed the coins, you can think about whether you want to carry on your late Dad's collecting, or to sell all or most of the material. If the decision is to sell, you can take them to a dealer, who will offer you a price discounted from retail value; take them to a major coin auctioneer if they are valuable enough to justify that approach, and consign them for sale; try to sell them yourself on EBay, which can be very problematic for someone who doesn't thoroughly know his coins; or get a copy of one of the many coin collecting periodicals, and respond to some of the ads about purchasing collections. Good luck, and ENJOY!
Don't clean them. Learn how to handle and store the coins so they are preserved. Don't run out to sell them; you will probably regret it later on. Your dad probably was hoping you would keep the collection and improve it over time. It's a fantastic keepsake! Don't worry about what it is worth. Just begin to sort out and study what you have and over time you will start to get a good handle on the potential value. There is a good chance that the longer you keep them, the more they will be worth. Take your time. It doesn't matter if you get the whole thing sorted out and figured out this year or in five years. Just get started. Keep in mind that it's supposed to be fun. If you aren't having fun, carefully store them away for a few months and then try again. Don't clean them [is there an echo in here?]
