Where do I start?

Hello! I am a newbie here and have no clue what to do.

I inherited over 200 half dollars (Walking Liberty, Benjamin Franklin, and John Kennedy), some buffalo head nickels and a ton of dimes. None of them are sorted or put in books. I have been trying to read up on what to look for and what values are for each type, etc. It is overwhelming to say the least!

So, I am not a collector and am looking at this "collection" to sell. I'm sorry, I'm sorry, I'm sorry!!! I need the money. Therefore, all suggestions on where I should start to understand what I actually have in my position will be greatly appreciated. Oh, I went to the local coin shop and didn't feel comfortable in there. Someone told me to stay away from them. So, there are no other coin stores near me and I don't want to get the wool pulled over my eyes.

I appreciate all comments, suggestions, and guidance you can give me.

Happy Hunting!!

Sterling Lady

 

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Can you post some pictures? It's much easier to evaluate the lot with pictures.

 

Are they circulated or uncirculated? I think a good start would be checking for any dates 1964 or earlier. Those would be 90% silver and thus worth more, if only just for that. Make sure you don't attempt to clean any, as most collectors frown upon that greatly and it dramatically reduces value. Hope you find some winners!

Edit- specifically on the date thing I mean for the Kennedy halves.

 

The years and mint marks are important as is the condition they're in. Beyond that, unless we can see them, what can we tell you?

 

You can start by either purchasing a red book or using an online reference that will allow you to separate coins with added numismatic potential from those with only metal or minimal value. Doing so would make it much easier for the board to assist you.

As for your local shop, what made you so uncomfortable? Yes, there are bad shops/dealers, but please understand that every schmo who wasn't handed a pile of cash for whatever junk they thought worth a fortune just loves to badmouth dealers, and is why generic warnings (if this was one) should be taken with a grain of salt. Perhaps, if willing to provide your general location, recommendations can be made.

 

You've come to the right place. A lot of great, trustworthy people here on this forum that can help.

Where you do not appear to be a 'coin' type of person, your situation can be tricky. let me give you two pieces of advise.

1 - Just because its old doesn't mean it's valuable.
2 - Just because is modern doesn't mean it's only worth face value.

There are so many different types of coins that are considered 'key' coins due to their rarity, a defect, condition, etc.. etc.. etc...

If you really want to make sure you get the best deal, I would suggest making a list of the coins you have in something like Excel. Break it down by denomination. Once you have those lists, the experts on those denominations can give you a fair value for the coins, as well as give you advice on what to look for if they see any dates of interest.

If you do not feel like posting this kind of information, feel free to pick one of the members of this site, or the administrators of this site in order to share this information privately.

Good luck to you! Who knows, maybe this will turn you into a coin collector!

 

I would respectfully caution against simply picking some random member to place such trust in. While there certainly are many fine and trustworthy people here, not all fit this description. In fact, there have been a number of instances where forum members have tried to take advantage of the new and uninitiated, particularly when there's the potential for a rip.

 

You know, you're right. I sometimes just assume that we are all here for the right reasons and do the right things when the situation arises.

I ammend my statement by removing 'members', and would suggest perhaps sticking with Administrators.

As a side note, I would simply add this. I would say that perhaps in order to maintain honesty, consider NOT selling to any members on this site. Only use their knowledge and information as a guide. If someone cannot get something out of this, perhaps they will be less likely to misguide you.

 

Most local coin dealers and some auction houses will evaluate your collection. For a fee of course. It is not uncommon for collectors to have an independent audit done for insurance reasons. The valuation they offer would be more than you could expect when you sell them, however it may offer you a baseline to work from. You may be holding a piece or two with some genuine inherent value. It's worth your time to investigate so you can at least have some piece of mind.

 

Thank you for your responses. Since I have fewer Kennedy half dollars, I was thinking I should sort by date and set aside the 1964's. Should I just cash in all the rest above '64? If not, what should I be looking for?

I just read other posts and I like the idea of putting each coin into an Excel spreadsheet. Thank you!

 

65-69 and 70-D are 40% silver, so no.

 

It is simpler to state that ALL 1965-1970 half dollars are 40% silver, because the 1970-S (proof) is also 40% silver and there is no 1970-[P].

 

The local shop was really disorganized; maybe they all are to some point. But, I like organization and cleanliness.

I live in western Arizona.

 

Yet it took you 2-3 times the words. "Simpler" indeed... (roll eyes here).

 

29 characters, omits 70-S

40 characters, 100% accurate

you be the judge in the random internet argument of the moment

 

Hey, welcome to CoinTalk. Many silver coins are only worth MELT value, which is not FACE value. You really do need some kind of book to separate out the key dates that are worth a premium from the common ones that are worth melt. If you don't want to buy the Red Book, go to your local library and check one out. Separate out the coins that are worth more than the common coins and check/sell them separately. The rest, probably at melt value (google it). Happy collecting and if the mood strikes you, post some pictures here and you can offer them for sale to the members of the forum.

 

Have you ever tried to debate the obvious with that guy? I was simply returning his obstinance.

 

Welcome aboard!

Try this website for dealers (and coin shows) in Arizona: http://www.coinzip.com/coinDealers.php?pageno=4&state=AZ

This page will show you silver value (not collector value) of US coins: http://www.coinflation.com/silver_coin_values.html

 

I understand, but to be fair I am familiar with a similar sounding shop in another state that's owned by a fellow I would place absolute trust in. Unfortunately, this is a hobby/business where looks can be deceiving.

Still, it's usually best to do only what you're comfortable with. Just take your time, ask questions, and weigh all of your options before making any decisions. More often than not, though, the greater goal should be to achieve what is a fair wholesale price than try to eek out every last cent, and simply because in the long run, those opting for the latter end up investing far more time and energy into doing so than it's worth.

 

As far as the 1964 goes you will need to look to see if you have any accented hair coins they will be worth more. Someone here should at least be able to supply you with key dates. Some of the dimes need to be looked at also for Full torch or what ever it is called. I would post your state only there may be a reputable dealer here that could help you.
Sorry posted at same time. LOL