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<p>[QUOTE="GDJMSP, post: 1523076, member: 112"]Honestly, about the only way you would ever know is to have someone who knows coins look at them in person and tell you. You can read a dozen books and still not be able to grade the coins. Reading the books is the first step, but learning how to grade correctly takes a long time and you can't do it just by reading books. There is just too much to learn.</p><p><br /></p><p>Your situation is a very, very common one. And everyone is always faced with the same problem - what do I do with these coins ? Well, that is a question that only you can answer. And there is a lot more that goes into determining that answer than you might think, things that most people would never even consider really. For example, taxes. If you were to sell the coins taxes are based on your cost basis. And if you don't have documentation showing what your benefactor paid for those coins, then your cost basis will be based on the face value of the coins. That means that you will owe a ton in taxes - if you sell. I know it may seem kind of callous to talk about such things in your time of grief, but that is the reality. So it should play a part in your decision about what to do with the coins.</p><p><br /></p><p>It is also important for you to understand that about 80% of all raw coins (coins that are not graded) are problem coins. So if you sent your raw coins in to a TPG to have them graded about 8 out of 10 of them are not going to even get graded. But you will still have to pay those grading fees. And at $20 to $40 per coin (on average) that could add up to a lot of money, out of your pocket, being spent for nothing. You need to consider that too.</p><p><br /></p><p>The long and the short of this is that you if you decide to sell these coins you might end up spending more money than you take in. And that brings us back to where I started this - what you need is somebody who knows coins. But that is only if you decide to sell.</p><p><br /></p><p>So, that's the decision you have to make first - keep them, or sell them. Once you do that, then we can offer you advice on how to proceed.[/QUOTE]</p><p><br /></p>
[QUOTE="GDJMSP, post: 1523076, member: 112"]Honestly, about the only way you would ever know is to have someone who knows coins look at them in person and tell you. You can read a dozen books and still not be able to grade the coins. Reading the books is the first step, but learning how to grade correctly takes a long time and you can't do it just by reading books. There is just too much to learn. Your situation is a very, very common one. And everyone is always faced with the same problem - what do I do with these coins ? Well, that is a question that only you can answer. And there is a lot more that goes into determining that answer than you might think, things that most people would never even consider really. For example, taxes. If you were to sell the coins taxes are based on your cost basis. And if you don't have documentation showing what your benefactor paid for those coins, then your cost basis will be based on the face value of the coins. That means that you will owe a ton in taxes - if you sell. I know it may seem kind of callous to talk about such things in your time of grief, but that is the reality. So it should play a part in your decision about what to do with the coins. It is also important for you to understand that about 80% of all raw coins (coins that are not graded) are problem coins. So if you sent your raw coins in to a TPG to have them graded about 8 out of 10 of them are not going to even get graded. But you will still have to pay those grading fees. And at $20 to $40 per coin (on average) that could add up to a lot of money, out of your pocket, being spent for nothing. You need to consider that too. The long and the short of this is that you if you decide to sell these coins you might end up spending more money than you take in. And that brings us back to where I started this - what you need is somebody who knows coins. But that is only if you decide to sell. So, that's the decision you have to make first - keep them, or sell them. Once you do that, then we can offer you advice on how to proceed.[/QUOTE]
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