Is there anyone here with some info about getting my collection graded and valued in SLC Utah ? Also, what would one expect to pay for this? is it by the hour or how does it work ?
Hello! I haven't spoken specifically with local coin shops about this issue, but I do remember hearing multiple people ask about this back in St Louis (where I'm from.) Basically, it comes down to a few questions: Why do you need your collection evaluated? Is it for your own personal knowledge, or for insurance/sale purposes? Do you need a written, guaranteed evaluation (i.e., more for insurance/legal reasons) or just a basic one? I'm sure any shop in town would have someone available to do this for you - but the best thing for you to do is call and ask. My coin shop friends back home charge an hourly fee. Personally, if you live in downtown I'd call Rust Rare Coin - they seem to be the fairest in my dealings with them. Their inventory isn't as nice as one over in West Valley...but then you're driving to West Valley. I'd avoid All About Coins. Even though it's owned by a former head of the ANA, their coins tend to be significantly overgraded and overpriced, and their staff has been less than friendly with me when I've gone in. I've only bought one coin from them, ever... How large is your collection? When do you need it evaluated? (The collector/researcher in me is thinking...well, I MIGHT have time to do it at some point...and I usually work for coins as payment back home...although this situation might come across as a conflict of interest if you don't know me personally.)
I lived in Salt Lake for 28 years. There is no good place to go to get a collection appraised, none. I could tell you stories that would scare you to death.
Seems to be the experience I've found here so far. I basically hold off my coin purchasing until the summers when I can go back to the STL area.
Interesting. I'm a little north of SLC in Ogden. There is a shop up here and they charge by the hour, however it depends on what you have. Sometimes people in the hobby can give you an honest opinion for free that is better than a dealers. I haven't figured out the dealers in SLC yet. I've bought from all and have been in all the shops. They all have pros and cons. I haven't met one yet that I think is a consistent grader.
I've noted you saying this from time to time. One day I'd like to talk to you about them to see if what I have experienced is similar. If you are in SLC and wanted to take a road trip to buy coins where would you go, Denver, Las Vegas, Boise?
I used to buy coins in Salt Lake all the time. But rarely from one of the shops because they rarely had anything I wanted, at the price I wanted it. I always had better luck at the local shows. There I could cherry pick. Most of my buying was always done from dealers all over the country, the world even. Or at the larger coin shows. But that's a different thing entirely than getting a collection appraised, which is what the question was. I've posted this before, a couple of times even. But a friend of mine in SL asked me about getting a collection he had inherited appraised. I told him where to go, 2 places, he did. Both places offered him face value. Now you have to understand, this collection was huge. We're talking about maybe 750 pounds of coins. I can't even describe it any other way. So when my buddy told me what he was offered I told him to bring it to me. This was back around 2001. Took me 3 1/2 months to go through that collection and appraise the coins. And I didn't even open and look at all the rolls, and loose coins. All I appraised the was albums and folders. Collection had very few dollars, only a handful. But there were 3 full sets of everything else, all 20th century coins. All the keys, all the major varieties, in each set. Back then, I figured it was well over $100k. And he got offered face. You draw your own conclusions.
The phone rings, John answers, hey John its me Joe, there is a guy come in to the shop, he has complete collections of twentieth century type coins, Wow Joe, how much was he asking? He wasn't. He wanted an appraisal, I really wanted those coins but I only had three thousand handy, so I offered him face value, Face value? you scamp, how did he react? Like someone that has a clue but not much else, I told him to shop it around and find out for himself, so if he comes over I would appreciate you being a good fellow and not letting this fish get away. Hey, If he sees that I will only offer face value also, he will get the idea that these coins are what we say they are. What was the collection like. It was complete, multiple sets of lincolns, quarters, halves, all the keys, some gold in there. Well we got the other guy, have you called him yet? Yeah I called him first since he would be the closer shop. Well I will play along, but whats in it for me? Whoever he sells it to will get the first pick and we will just pick round till all the coins are gone. I am in, whats he look like? Just some dumb young guy who needs to get a good coin education from you professor. I will keep an eye out for him.
I agree. I often watch people come in to some of those shops and the so called experts offering them face or spot value most of the time. For that reason I've been trying to educate my wife and kids on when I die if their is anything left this is how I want you to sell it and that's not taking it to the dealer.
Just wanted to add another two cents to the pile... Took my two 1981 proof sets to Rust Rare Coin. Guy working there (didn't recognize) confirmed that I had a Type 2 SBA and Quarter in one set. I asked what their buy price would be, just out of curiosity... ...keeping in mind that the FMV for the SBA is at LEAST $125, recent eBay auctions show them going for $140-$175... ...the quarter, much more common, still sells for around $10... He offered me double face value for both sets. Yep...that's about $4. Yikes! I laughed at him, picked up my proof sets, and listed them on eBay. I realize they have to pay overhead...but really? Double face value? Planning on editing my Google review of this place.
Could have told ya not to waste your time going there. 'Course the story wouldn't be much different at any of the other 3 shops in SLC either.
Doug, I really, really just wanted to see what they'd say. I figured it would be a good learning experience for the OP. I was kind of surprised that he lowballed me so badly, though...was expecting him to say at least a REASONABLE number. Plus, it was two blocks from the US Bank where I dump my half dollar roll searching rejects. I was already there.
Well, now ya know. Just so ya know, I wouldn't recommend buying ANYTHING from that shop. The other 3, yeah you can buy there. But you better know what you're buying and what they are worth.
Well, I pretty much already follow this rule. I haven't bought a coin from a shop in SLC this year, if I remember correctly. Found those 1981 proofs at a yard sale, though...lol
