I need to appraise a collection for a family member

Wouldn't that mean that the IRS would be calling the good peole at Whitman a bunch of liars, too?

Chris

 

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What kind of coin collection is it?
That could be anything from "slabbed" rarities to jars of pennies.

This was some time ago.
My grandmother died and my mother went to her safe-deposit box with
an estate tax appraiser, looked at her coins, and wrote "miscellaneous coins".
They included a 1909-S VDB penny and a 1916-D dime.

 

I knew there were going to be some changes this year in the tax laws but never figured it was this crazy.
Going back to laws from 30 something years ago is going to mess with folks, even if it's only for one year. Most of the lawyers and CPAs never have had to deal with those laws. I wonder how many will get it right the first time.

It would be interesting to know just what the IRS would like to see used as far as coin value. I don't see a clear choice of anything that's going to be accurate with everything.

 

The first thing to do is, start listing it. Once that is done the rest is easy. Bring in help for what you don't understand.
Talk with the lawyer to be sure of what he needs. It's all about getting it right the first time around.

 

Primarily lincolns, jeffersons, buffalos, roosevelts and mercury dimes. The jeffersons and lincolns are mostly rolled by date. Seems he liked the idea of BU rolls. There are jars and jars of buffalos. I've looked through most of it and saw no 3 legged ones. As for the mercurys, didn't see any 16s or 21s. No S VDB in the pennies either, though there were a good number of teens, twenties and thirties.

I think the value will be in the rolls. I imagine some of those could be worth several dollars a coin.

There is obviously more to the collection than that, but I would say the above makes up 50% of the bulk.

 

On a side note, I stopped by my grandmother's house and explained to 3 of the 4 children my preliminary findings. I mentioned that it seemed more like he was saving rolls doe investment than coin collecting (in the traditional "fill the album" sense).

They then told me there had been a break in some time ago where all the valuable coins were stolen. That stinks.