Need advice on selling coins

I am not having any luck getting good pics. I just have an ordinary camera -- no macro lens -- so maybe I'm not lighting it right.

Anyway, I looked at the RedBook again. I think my mom paid way too much for the coins, but there's nothing to be done about that now, 25 years later. The receipts describe all the coins as being Choice Uncirculated, MS 63-65. Since there's quite a difference in value within that range, I don't know what these coins are worth.

The 1881-S Morgans are $50 (MS63), $65 (MS64), and $190 (MS65).

The 1887 Morgans are $50 (MS63), $60 (MS64), and $175 (MS65). My coins (per the receipt) are 1887-P, but there wasn't a listing for that in the book.

The 1924 St Gaudens was $1,950 (only MS63 was listed). The 1924D was $8,750, and the 1924S was $9,000. Mine has a character underneath the year, but I can't make it out.

I was also wondering about something in the book. In front of the number indicating how many coins were minted, sometimes there's a number in parenthesis. For the 1887 Morgan, it was (710). What does this number mean?

I was hoping you all here could help me with the value and so forth, but since I can't get good photos (and don't want to buy a new camera just for these coins), I guess I just need to go to the coin show. This may sound dumb, but do I actually take all the coins with me? They're pretty heavy, but of course the dealers would have to look at them. (Duh)

Also, I understand dealers have to make a profit, so how much under the value (as stated in the RedBook) should I expect to accept?

I appreciate all your advice. Thanks.

 

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I find that a bit curious . May I ask who the Dealer was that suggested you take the coins to a show rather than make arrangements to bring them to his location for a look see ? As you stated your not in a rush to sell anything. May I suggest that if you are going to follow the suggestion to go to a show , it may be wise not to sell anything on the first go around offers. Note the dealers name and shop around . What area do you reside in ? Perhaps one of our elder members here may be close and can further assist you . We also have a few Professional Dealers who frequent this forum . So tread cautiously at that show. Was the atty that handled the Estate of any help ? Also , using the prices listed in Red Book as a source of values of your coins, is useless. No one buy's at Red Book prices. Not even close in many instances. That is why you need to reference either the appraisal used in the Estate papers or have someone , like a dealer do an appraisal for resale value for you. Trying to attempt such a task with simply photos here just won't cut it. Trust me , you won't get the attention of a dealer to give you a fair appraisal while during a show. It's unfair to you both. It is a good way to meet some dealers and get a feel for whom you think you would like to conduct this transaction with though and make an appointment to visit their shop at a later date . Of course , these are simply my suggestions for you. Happy Hunting and enjoy the show.

 

The character under the date on the St Gaudens is the designer's monogram. If there were a mint mark, it would be above the date (weird, huh?).

The number in parentheses is the proof mintage -- so, 11,000,000 (710) would mean total mintage was 11 million, but proof mintage was only 710.

 

Samuel Lopresto. I got his name from PNGdealers.com. He was one of three dealers close to me. I live in the San Pedro area.

I'll have to talk to my sister about our mother's estate. She handled everything since I wasn't living in this area at the time.

I have to say that I've gotten really cold feet about going to the coin show. But as I said, I really appreciate all the good information here.

 

I have yet to be made comfortable at a coin show yet. If you go to one, make sure you with someone who knows how to deal with these shows or you will get taken.


Since you are in no hurry.

To get the best money you can for those coins, sell them on eBay.

DO NOT JUST LIST THEM WITH CRAPPY PICS AND SHORT LITTLE Descriptions. There are a lot of guys like me who look for certain types of listing for the deals!

GO get a point and shoot with a super macro function and a little desktop tripod. Sit down one night and shoot all the coins, front and back. drop each one into a numbered flip so you know which one goes with which picture.

Create an eBay account. Search other listings for the same coin to use as a template for your listing. PUt them up as a Buy it Now prices. Use the redbook prices if you want and say so in your listing - do not list grades on the coins or in your listing.

Couple key points, the better your pictures, the better the price you will get. Take your time to get the pics right, crop them square.


Remember you have time on your side, so take your time. You don't have to list them all at once, you can put whatever prices you want to start and then drop them if they aren't selling - lots of little marketing things you can do to bring attention to the listings like a couple no reserve auctions ending on sundays or maybe a couple of coins ending each night from your Buy it Now listings.

I wouldn't ever take any coins to any show to sell ever~! not with out a personal reference and a companion during the deal. You will be fresh meat in a pool of sharks.

 

I would start there with your Mom's attorney that handled the disposition of her estate . I am unfamiliar with Mr. Lopresto , however I don't feel he did you any favors with that suggestion. Both myself , GD and perhaps a few others have strongly suggested you work with a dealer , first to appraise the collection for you . Going to the show, is a good start at becomming familiar with some of the " Local " dealers in your area , who will sit down with you and discuss the part of the collection you would like to have appraised. It's sounds time consuming , but sell in haste and more often than not you would have sold short . What is the show name you plan on going to ?

 

Now your not to far outside of the Los Angeles area. Goldberg Coins in Beverly Hills might be an option for you, and they just might be there at the Show. Again, what is the name of the show you plan on attending ? Thanks.


Seem GD and I had the same suggestion. The Goldberg Auction house is a very reputable firm , and I would not hesitate having them appraise a collection. Fair & Honest .

 

It would be the Long Beach Coin & Stamp Show, but I really don't think I'm going to go now.

 

To bad, Goldberg's probably has a table . As you can , whatever pictures you can post up, I'd like to view . Going to the coin show could prove to be a very enjoyable experience for you, sorry you contemplating not going. Hope you reconsider .

 

I agree with putting them up for auction, with the very best and largest pics of them you can muster.

I am not saying there aren't any good dealers out there, but for me, good ones have been elusive.
I have seen the ones I visit do some serious low balling to people that inheirted coins.
I am certainly going to counsel my loved ones not to take my collections to dealers when I pass.

 

Dear pab123, Sorry for your loss. Mothers are special. Yours must have been..how many mothers collect coins?? How neat! You are getting good advice here, it looks like

Sincerely,
LucyRay

 

Wow GDJMSP! What an informative post! Very kind, informative, and filled with empirical knowledge. I sure learned a lot from reading it. I can use ALL of that advice there!

Kind regards,
LucyRay