Inherited Coins

This little coin's case says "This mini-coin is made from a special melt containing silver that was carried to the moon on the flight of Apollo 14." It's from the Franklin Mint, 1971.

 

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I would heed the advice given to check out more than one dealer, When I disposed of a bunch of my dads accumulatiuon of old silver coins, I was offered anywhere from 3- 10 times face value.

 

Last coins! These feel pretty light, I don't think they have gold in them....

An Israel Numismatics society coin and a Ronrico rum coin. These can't possibly be worth anything can they?

 

Click on "Classifieds" at the top of the page.

Chris

 

Everytime I am in a coin shop, I get to see at least one person come in with coins that they know nothing about, wanting to sell.
I wish I could buy my coins at the cut rate I see these shop owners buying them right in front of me.

The other day I was digging through the wheat bin at one of the local dealers. The great big bin, with a great big label that said "circulated wheats, 10 cents each"...
The lady with inheirited coins was standing right next to me, and of her circulated wheats was told:
"I buy wheats for 2 cents each, flat rate... I mean I only get 3 cents each for them."
It was all I could do to keep from pointing out the "10 cents each" sign to the lady.

Unfortunately, I am either lacking having met a 'straight' dealer, or they are rare...
Your experience may vary. And hopefully it does!


Edit:
I am NOT complaining that the dealer paid 2 cents each for wheats, or that they choose to sell them for 10 cents each. It is just the way that they lie to people in front of other customers, and with a straight face.

Edit 2:
Kinda worked out this time though. The dealer realized what they had said in front of me, digging out circulated wheats... When it came time to settle up, I got the one time only special price of 4 cents each for the wheats I picked out.

 

I'm looking and honestly I don't know. Talking just a few dollars here so I suppose it doesn't matter.

 

Makes sense. I will use NGC to grade it in the GSA holder, understanding the caveat on the grade guarantee.

 

All 3 I have are CCs. Two are 1878. The third is 1882 and has a note in it that says "IMPORTANT. This coin has never been placed in circulation by the U.S. Government. However, due to its heavy scratches or tarnish it was culled out of the "Uncirculated" category and was offered in a special category ("Mixed Carson City") at a $15.00 minimum bid price. Your coin was selected from this category which includes Carson City dates 1879, 1880, 1881, 1882, 1883, 1884, 1885, 1890, and 1891. Exchanges for different years may not be made." The front of this 3rd coin looks pretty good, but the back has some brown discoloration at the bottom.

I do remember what the coin dealer wrote for these coins. $250 for the 1878s and $125 for the 1882, which seems like they were pretty fair offers based on what you're saying.

 

1989

 

Alright, so there you have it. That's pretty much the full collection. Some of the stuff there are multiples of and I only posted 1 of them as representative. And like I said, there's some rolls of silver coins as well as some loose and definitely circulated silver coins. My questions are:

1) What should I get slabbed? The 4 Saint-Gaudens and the 2 1878 Morgan dollars seem like no brainers. Anything else? I thought the 1820 quarter might be pretty valuable. What about the 1882 Morgan dollar?

2) For the stuff that's just worth it's melt value, what's the best way to get max value? A coin dealer, Cash 4 Gold, etc?

3) For everything else, recommendations on dispensation? I know a few people reco'd going to more coin shops. I've also received a few PMs from folks interested in buying certain coins. I guess I could also post the items on the classified board here?

4) For coins I send to NGC to get slabbed or sell through the Internet, what's the right way to ship coins to prevent them from getting damaged?

Thanks for everybody's help so far. I really appreciate it!

 

I would go with the Saint-Gaudens for sure, but im not sure you really need to send the CC morgan dollars, most people buy those to put in albums. The other down side to slabbing them is that it cost money, and that takes more money out of your pocket... The plus side to slabbing them is that they will then be authenticated, but with a value of about $125 and $225 not sure it would be worth the effort to add the mintmark...

As far as the 1820 quarter goes i probably wouldnt slab that either, it appears to be in VF condition which is worth about $200 retail...

NEVER use cash 4 gold or a mail in company!!! They will give you little to nothing on what you send!! Best way to get the maximum buck is to sell direct to silver collectors! All coin shops or coin dealers will give you less than spot simply because they have to make a profit to keep their doors open... Not many people buying silver coins that are just worth melt are willing to pay much more than spot. So they have to keep their prices low so they can move product out the door.

ME!

Depends on the amount or coins, but best way is to keep it simple. Use a small cardboard box appropriate to the order size and place all the coins if in cardboard holders or loose into a small plastic ziplock bag. For rolls tape the lid shut, and for slabs if multiples stack them together and tape together. Then roll everything up in newspaper rather tight and then crumble up more newsapaer into balls to fill in the empty space in the box to make it fairly compact. Then seal the box tape the label on and take to the post office! Make sure if the order is more than $50 worth of coins to get insurance according to value! They do loose them on occasion, but using USPS for the past 3 years with 6-10 boxes a week i've only had 2 packages go missing. So not bad but theres always a chance.


Keep me post on what you decide to do!

 

Update!

I submitted 7 coins to NGC for grading:

2 1924 Saint Gaudens
1 1923 Saint Gaudens
1 1908 Saint Gaudens
1 1820 quarter
2 1878 GSA CC Morgan Dollars

Just got the grades on these. Big victory on getting one of the Morgans at a MS64. The quarter came in at a VF 25. I was hoping for XF so a disappointment there. Everything else about what I expected.

 

Other Saint Gaudens

 

bfwolf
Wow Nice:thumb:

 

Those are some very cool coins you inherited. I see the 78cc got a 64 grade, good news for you. If you go to sell, stay away from cash for gold. Your easiest course of action to quickly get cash is to take them to a reputable dealer who will give you a fair price. It would be worth buying a CDN Greysheet for the current month so you can get an idea of wholesale bid/ask prices before you go in.

If you want to get a little more, you can try selling on eBay, but keep in mind the fees will cut into your profits (roughly 9%), you could try putting Buy It Now prices on them with the OBO option, it allows you a little more control, and you can determine a minimum that you would accept. The down side of going that route, is that they'll take a bit longer to sell.

I'd also call APMEX and see what they are willing to offer for those coins. They do so much volume, their bid/ask spread is less than many dealers. Either way you are going to get several thousand dollars that you didn't have before. Good luck!

 

Vaa Vaa Voooom...I just stumbled across this thread. What a remarkable collection you inheritied. Obviously this collection was compiled by a well enducated and well versed collector.
Though Im not too familair with this process, but Ill ask the more knoweldgeable forum members...how would he fair in sending them in for auction with a reputable coin auction house, like Heritage.

 

Congrat's on your collection! Best wishes for getting a fair price for them! Good Luck, and Thank You for sharing!!
Steve

 

Congrats on at least getting them graded! Quite a step for a non-collector in itself. It was the smartest thing you could do. Now you can at least avoid some speculation non-sense from buyers. It would be hard for me to sell it all. You might have a kid some day that will wish you would have saved it all for them.

If you choose to sell on ebay, expect to lose around 12% off the top for ebay and paypal fees. Heritage charges 15%. You can list on Craigslist for free, but it gets riskier meeting strangers in person with high value items. Much smaller audience as well. You could try listing here as well.
IMO, Ebay is more of a house hold name and receives the most coverage but the final sale prices can be a crap shoot.