Hi, I am totally out of my element here, but my parents gave me a pretty cool gift. I was born in 1964, which is apparently the year they stopped making silver coins. The folks gave me a piggy bank full of pre 1964 coins, mostly silver, and I have no idea of how to get them valued. There are no coin dealers in my area, someone recommended selling them at the flea market but I have no knowledge about what they are worth. How can I keep from getting ripped off?
Hello and welcome to the forums! Would you have a digital camera with a macro lens? On most digital cameras it shows a picture of a flower on the camera. Anyways if you could get some pictures of the coins on here I'm sure we could help you. Also, if you go to your local book store and purchase the Whitman Red Book of United States coins you can find pictures and prices in there and that would help you too.
I would get a few books first off. the Red Book or "A Guide Book of United States Coins" same book but some call it one and some call it the other name. Photo Grade and ANA Grading Guide... These should help you find out what dates to look for and also how to grade the coins...the Red Book has a price guide but its not the best... Speedy
I would also recommend getting a red book, especially if you are going to begin collecting. If you just want fast price idea without investing in a book...another option would be to visit a web site, such as ebay.com or coastcoin.com. Both sites publish prices and photos of coins in various grades.
About the Red Book--if you don't feel like plunking down the money for a new copy, many public libraries have them, and I've also seen them at used book stores. I personally wouldn't feel the need to get a 2005 copy. Any from the past few years would be fine, unless you are a die-hard collector. It will give you a general idea of what is valuable, and give you a basic idea on how to grade the coins. And everyone here like looking at posted pics of coins...
one thing to keep in mind is that the silver coins in your collection are worth about 5 times face valeu in silver alone. This means a silver quarter is worth about $1.25, a dime is 50¢, etc. from there a couple of factors affect the total value. First the rarity of the coin can increase its price; also coins in better condition can be worth more. I agree that your first step shoulf be to get ahold of a red book.
I agree the rd Book is a good starting point, but remember, by the time it is published the prices listed are at least 6 months out of date. I recommend the Coin Talk in Coin World as more up to date. If you are looking for this as a monetary thing...then that is the way to go....if you are looking at this ans the entry point to a facinating hobby...look to see what you have towards the starting point for building a collection?
