Hello All: I'm not a numismatist, but I have a large (several hundred) collection of U.S. nickels, including some very old looking Buffalo Heads, and other like them. I have no idea of the content or value of this collection. My question is: how can I find an HONEST and reasonably priced appraiser for all these nickels in the Manchester, New Hampshire area? My fear is that I'll turn over my collection to an appraiser who might remove a few of the most valuable nickels, if there were any of value at all in the collection. I know it's not fair to just assume that an appraiser might be dishonest, but I'm a complete neophyte, so caution may be the better part of valor here. My aim is to establish a fair market value for this collection and then sell it. What would you advise? Thanks, Airpilot
Airpilot, welcome to CT. I hope you find the answers to what you are looking for. First and foremost, document and even photograph all your coins if you can so that you have proof of what you have. Next, try to find a local dealer that can assess your collection for you. Some dealers may even charge a fee for such a service. Also, a local coin show would also be helpful as you will have access to multiple dealers. Lastly, our members on here are quite sharp. If you post close up pics of your coins, several people on here would be more than willing to help. Make sure you take good pics with your camera. Cameraphone pics don't work well. Hope this helps just a little bit.
That is, and always has been, a problem. The only suggestion I can give you is to go spend $13 on a 2010 Red Book and look through each coin yourself, sorting out any that have a higher value. Once that is complete, take them to an appraiser and roll the dice. Additionally, you might be able to set an appointment with a local coin dealer who would go through them with you, quickly of course, and give you a value. If you do this, I would suggest telling them that you want an insurance appraisal rather than telling them that you intend to sell. While the appraisal will be far more than the selling values, it will give you an idea and should help you identify any key date coins. From there, if you can post pictures of the key date coins here we can likely assit in determining a fair price.
Check to see if the person you ask for an appraisal is a member of ANA. I have heard of dealers promising to send a coin to a TPG and then sending a different coin and shrugging their shoulders when you get back a coin different than the one you had. The other suggestions are also good, take some pictures, catalog what you have, since you are selling the collection you might want to either sell the whole thing to a dealer or piece it out.
You should undertake some minimal research yourself. The aforementioned Redbook is a good place to start. Don't worry so much about the grading initially; that can be difficult to master. What you first want to look for are any date/mintmark combinations that are rarities. If you have some, then you can worry about the grading. Once you know what you have, you'll be in a better position to turn your collection over to be appraised. You will have already separated and photographed the more valuable coins at that point, and you probably don't have to worry about the more common/less valuable coins being stolen/replaced.
I would like to offer the following suggestions. You have to do some work. That means making a list of what it is you have by Type, Denomination and Issue. Handing over a bag or box of coins to someone is not the way to do it. There is a small book which may assist you. An Official Whitman Guidebook titled Check List & Record Book. Knowing exactly what you have is more important at this stage than trying to assess what it is worth. That will come a bit later. I am assuming your in no rush to sell any of these . Than you can come back here and tell us more definitively what it is that you have and perhaps post some pictures of the individual coins.
I suggest that you post a few pictures, post all the dates and proceed on the advice given by this learned forum after that.
Airpilot - Although each and every one of our members means well, I sometimes think they just don't understand how overwhelming a task it would be for somebody who knows nothing about coins to even think of trying to establish value for them on their own. And c'mon guys - how many of you have struggled, I mean struggled, to take decent pics of coins ? You know as well as I do how hard it is even when you have been told how. Now imagine somebody who's never done it before. Try to remember the very first time YOU tried it. So anyway Airpilot, you have the right idea. You just need a little help finding the right person to appraise the coins for you. Go to this link - http://www.money.org/ana_custom/dealer_search/dealer_search.cfm - that will bring up a page that allows you to find registered ANA dealers in your area. Use the phone first - explain your situation and ask them if they can do an appraisal for you. They will charge you for it. DO NOT try to sell the coins to the dealer doing the appraisal - just pay him to do the appraisal. Then you can use that same dealer directory to find another dealer in your area to offer to sell the coins to. ANA registed dealers are bound to uphold a certain code of ethics, or they risk being kicked out of the ANA and having their reputations ruined. So as a general rule of thumb - you can trust them.
Doug, my suggestions were intended to have the member become familiar with what they have and to save possibly the expense of a needless appraisal. But you may be correct if expediency is a goal. It just seemed appropriate to have the OP identify what they have, definitively before pursuing a selection of an appraiser. :hug:
Thanks to you all! To All: My heartfelt THANKS! I'm impressed with the multitude of responses, the thoughtfulness of each, and the knowledge they have given me. FWIW, I'm a moderator in a group like this one, but dedicated to largely technical issues regarding a model of camper that we own. Our website is dedicated to fair, impartial and knowledgeable discourse, and dispensing of technical and non-technical guidance and assistance on any related topic. We've been proud of our website because it offers the same quality and helpful assistance as your site has offered to me, a self confessed newbie. Yours is one of a very few specialty sites that I've encountered that measures up to our high standards, for which I congratulate you! Now, don't let any of this go to your heads, OK? I will report back when I've decided on a course of action, and what my findings are, including pics if there are any valuable coins within my collection. Again, thanks to each of you, Dave (Airpilot)
I understand. But red Book or no, he won't have a clue what he has because he cannot even begin to estimate the grade. The only thing he would know is that is that coins of a certain date mint mark are more valuable than others. Now how useful do you think that actually is to somebody who knows nothing ? If the scarce date/mint coin is G and worth $20 - so what. The others may be MS and he might think they are worth nothing when they are worth $100 a piece. There's no end to the possible scenarios. Like I said, I know you mean well - all of you do. But I've gone through probably 500 people, in person, with collections, who know nothing about coins. And no matter what you try to show them in a book they are lost - completely lost. By far, the easiest answer, and the one they really want - is to have someone who knows what they are doing, do it for them. So in the end, isn't it really easier for them to just help them find that person ?
Well not in regards to the record book I suggested. It's a simple illustrated book by denomination, type and date. All U.S. issues. It provides no discussion of value or rarity. Next to each coin listing are boxes with which the appraiser could note the suggested grade. Truly, nothing overwhelming or frustrating there. I agree , having the OP attempt anything else at this point on their own, other than having the collection appraised would more than likely be too much. But I guess the appraiser will write all that down on paper for them and than the OP can copy it to the book. Either way would work I guess. BTW the cost of the record book I suggested is $6.00 and is comprehensive of all U.S. Coins & Canadian coins. I still use my 1997 copy as I don't collect any modern issues. Most local Dealers would carry this I think.
Your very welcome. Please do come back and update us on how things worked out for you. Hope you have something special in there! Tom.
