Hi all... A relative of mine just showed me a suitcase FULL of ALL denominations of Silver coins....from 1800's-early 1900's Morgan dollars(dozens) , 100's of Merc Dimes...some in booked sets..., Walking Libert quarters...too many to count...., and all ages of Half Dollars!!!! What an incredible sight!!! There is literally 1000's of coins!!! Now the problem.... She is wanting to collect on her late husband's "investment" and is not sure where to start. I am not sure either...since I just started metal detecting and only recently became aware of the values of silver coins. Does anyone have advice on where she should start to make sure she can collect a fair return on these coins??
Sort the coins by type and then by date/mm. Get a copy of the Red Book - not a big investment, like $12.00 retail. Go throught the coins and get a feeling for the retail value of the particular coin and year. I know you don't know grading, so look at the range. You're looking for outrageously expensive coins - keys. Make a good complete inventory. I would then suggest that you find an experienced collector or dealer and pay them to do an analysis of the coins. With that in hand, you'll have the tools to decide how to proceed. Don't clean the coins. Don't sell the coins as a batch, unsearched. Don't just take them to someone and leave them - make sure you have an inventory. Make sure the person is reliable.
Welcome to the Forum Bigjer, Art gave you some very sound advise. It will take you a while if most of the coins are loose. The albums I would inventory (as to what's missing) & just set aside. The Offical Red Book- A Guide Book of U.S. Coins, will tell you aprox. grades for all your coins. The prices are not real accurate but are pretty much ballpark. At this stage the grades are more important. Don't be in any hurry, check the coins for variations (as stated in Red Book) You will have a lot of fun & learn a bunch. When it comes time to have your collection appraised, go talk to the dealer first, how long has he been there? Tell him what you're doing, Ask how much, how long?? Any referenses-affiliations (like ANA or PNG) And last Do you like,could you trust him/her?? It should be alot of fun I wish it were me. Cool Adventure!!! Good Luck, Dave
And you should also ask her to keep in mind the very real possibility--indeed, probability--that there will be no single coin of great value. The huge majority may not be worth much more than the bullion value. But with that many coins, it'll be exciting to hunt!
Hi Bigjer I believe we frequent the same MDing forum!!! The advice given is sound, you will achieve the best realised price by doing a little of the research yourselves and having a general knowledge of what you have, a complete inventory is a must !!! photos are also a good idea of any key dates that you might find !! If you have questions about value or if we can help you identify any of the coins either here or in the MDing forum please post pics we will do what we can !!! Rick
And if any of them appear to be uncirculated be absolutely sure not to touch them directly. Wearing light cotton gloves is best, and even with gloves only hold them by the edges. Actually it would be best to handle all of them that way. The oils in your skin can leave fingerprints and other potentially damaging deposits, especially on silver coins, which includes all, or vitually all, of your suitcase contents.
I wish I had a relative who had that in their possesion... Mostly, though, because most of my family has passed and left me a bit of what they had (may they now rest in peace)
