Recently Aquired Coin Collection

Hey guys/gals,

Total coin-collecting newbie here. On the recent passing of my grandfather, I acquired his coin collection that he started back in the 20s. My understanding is that back in the 60s, he had a local coin dealer offer him ~$7,000 for the entire lot, which he refused. I’ve been reading/surfing for the past few weeks, and trying to learn/gather as much info as I can.

One small coin book in this collection contains quite a few of the <b>U.S. commemorative half-dollars</b>, mostly from the 30s. They have no indication that they’ve ever been professionally graded, but the coins appear to be in the original cardboard/cellophane sleeves they came-in when they were issued. To my shock – internet sales for these coins show they’re quite desirable – I assume due to the low mintage strikes.

For instance – there’s a coin (Old Spanish Trail) for sale now on the internet that the buyer wants at least $750 for. I’ve got 2 of these that appear to be in WAY better shape. (See attachment hopefully)

My initial questions are,
- I did take this one coin out of the sleeve for the picture – I handled it with cloth only – as they slide out of the sleeves fairly easily. I showed someone at work who told me I should not remove them from the sleeves for value purposes. I know I’m not supposed to rub/touch/clean them – but should I make sure to keep the rest in the sleeves? (I have no idea if some have never been removed. Some do show signs of wear, but many appear to be uncirculated/untouched.)
- Is it really worth it to get them graded. I see quite a few people selling coins with no grading.

What do you guys think I have here? Thanks!

 

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Darth:
Welcome, and it may be worth your time to get them professionally graded.
If you do, I would only use PCGS or NGC, probably PCGS with the apparent high $ value that you state.
Good luck.

 

Never touch these coins with your bare hands, coins like that need to be certified by a TPG (third party grading co.) PCGS , NGC, ANACS

also never clean any of the coins you were given, it will destroy their value. That coin you have there looks to be MS-64 to MS-65 very high value coin.

 

Welcome to the forum!!! Id definitely send them to a TPG to be graded. Very nice coin by the way.

 

I would send them to a tpg (either PCGS or NGC) if you intend to sell them, it will make them much more desireable on sites like e-bay, as a novice you also might consider having them graded if you intend to hold on to them just so you are aware of their states of preservation.

 

Hi,

I think based on the age and rarity of the coins you have I would get them graded by PCGS, and just so you know that Spanish Trail coin is probably worth at least $2000 [probably much more] f it is in the condition it seems to be. Here is a price guide on the commemoratives:

http://www.pcgs.com/prices/frame.chtml?type=type&filename=silver_commem

Also if it was my collection I wouldn't take them out of the sleeves ever until they were being prepared to be sent to be graded. You can get a rough valuation for each coin by that guide.

 

Darth, first, welcome to the forum.

You are absolutely doing the right thing by reading and learning all you can about these coins before acting on them. If the other coins are in the same shape as the one that you shared, you are very fortunate indeed. Take very good care of them and be careful who you share your personal information with. I agree with the opinions thus far-- I am not a big fan of "slabbing" (certifiying as real, grading and encasing in plastic with a serial number), but these coins appear to be quite valuable and should you decide to sell, you will have a bigger potential market than you would with "raw" coins. But I'd keep the original sleeves near the coins after they are graded and slabbed, to sell along with the slabbed coin as a bonus.

Very glad to have you here!

 

Wow...

OK - thanks for the repsonses! When you say to "send them to be graded" - you mean to mail them out?? I guess you take a stab at the value and just insure them? Seems scary!

Thanks again for all the responses!

Oh - here's the reverse side if anyone cares to see it...

 

Hi,

Yes people do send coins through the mail to get graded, you can also drive to a specific coin show if nearby where they accept the coins as well [Please don't say where you live, you can look up the coins shows at PCGS.com].

And actually reading you post again it sounds like he gave you quite a large collection and you probably wouldn't want to have all of the coins graded, only the ones in the best condition and highest value to start with. Also grading can get to be expensive so that has to be taken into account too.

Anyway it is a wonderful dilemma to have, that one coin alone in incredible. He did a great job of caring for his coins.

 

First, let me say that the other members on here are giving you great information. I also applaud you on your effort to perform research and find out exactly what you have inherited. Let me add by suggesting that you should carefully go through the collection and catalogue the coins that you have received. Carefully organizing the collection is the best way to go through and place a value on it. This way, you will be less likely to accidently overlook a valuable coin in the collection.

Also, as another member stated, be extremely careful not to reveal too personal information when discussing this collection, as there are some dishonest people out there.

Good Luck!!

 

Thanks

Thanks for the tips CentDime – I’ll see if a show is in my area soon!

Shortgapbob – right…. I’ve started a spreadsheet to catalog. Thanks for the tips/warnings. I didn’t think much about thieves – it's a real shame we have to worry about that…

 

Here is the list of coin shows. I think this will help-

http://www.pcgs.com/shows/do_search_shows.chtml?catid=313

 

Darth:
Also, remember to take care of the original envelopes, they are also collector's items.

 

Darth, welcome to CoinTalk! Your Spanish Trail coin is very, VERY nice! Congratulations! Just to make you good and nervous...with a coin in that condition, one small mark can lessen the value considerably, so be very careful when handling it. Also, don't exhale (water vapor) or open your mouth (spittle) or anything when handling them directly. I think I'd probably get them graded. As I'm sure you've seen before, get yourself some books (start with the Redbook probably), read up, and enjoy your coins!

 

I'd be interested in hearing about some of the other nice coins that your grandfather left you.

 

Always I can stand corrected but if they go to PCGS I believe they have to go through a PCGS dealer. The dollar return seems much greater in a PCGS slab. He can also tell you the most worthy ones to submit. PCGS has a list of dealers on their home page.

 

Completely WELCOME. Now as for your coins. Before you do anything, acquire some books, magazines, etc on coins and learn what you have before you do anything. You may well have many valuable coins but then you may also have some that are not worth the price of the grading. So know what you have first. If a coin is worth $5 you don't want to pay more than that for a grading. Also, as noted try goingto some coin shows. Do not just rely on PCGS web site for coin shows. Just type in coin shows for a web search and add the state you live in. for example we have numerous coin shows around here in Illinois that are not posted on the PCGS web site. The point is know what you have, keep your hands off them, keep them in a safe place, don't go around telling people you have them either. Expecially relatives.
Of course you could save yourself a lot of trouble and just send the entire collection to me. :hail: :hail:

 

Hello Darth..
One thing to add to what the others have said. The commeratives are well desired and can be quite expensive in MS condition. It appears that the Spanish Trail coin is in extremely good condition anywhere from MS64 to 66.
Do Not breath or sneeze or salivate on them (like I am doing) while looking or holding these coins!
Depending on how many you have, you might want to get a basic membership to PCGS or NGC so you can have direct submittal for grading! With coins like that..it will be worth it.
If not, you will have to find a show where on-site grading is performed or go through a dealer! If it were me I would submit them my self! Insure them for maximum $$ when mailing and package them very well so they can not move around and be damaged. I would triple wrap them in bubble wrap and then double box them!!

Good luck! By the way if you have 2 Old Spanish Trails...one in the original packaging will be worth big $$$$
Do not let anyone tell you differently!!

RickieB

www.pcgs.com
look at the silver membership $50 buck with direct submittal for 1 year..

 

So do you plan on finding out what they are worth and seling them or learning about them and keeping/collecting them???

Hopefully the later....

I;d like to hear what else he has in that stash, if you get the time/Notion..

I always here these stories on how someone's relative left them a stash of coins and I think of how cool that would be....

 

I all honesty - I thought, yeah... I've got some coins here - maybe worth something... But it sounds like I may really have something. I know for sure I'm not going to do anything rash. My goal is in NO WAY to make a quick buck. Who knows - I may end up hooked like a bunch of you guys/gals! Signing off for a while - thanks for all the responses!