Valuing silver coins

Discussion in 'US Coins Forum' started by Rassi, Jan 28, 2020.

  1. Rassi

    Rassi #GoCubs #FlyTheW #WeAreGood

    My MIL has a friend that had a bunch of coins that she'd saved over the years. I'd only been told about them, and had offered to look at them to see if there was anything special. Sadly, she took a bunch of them down to her local bank and turned them in for face value. Whether or not anything good was "lost", I don't know.

    My MIL finally convinced her to let me look at them. She's been keeping them in a tiny cedar chest - I know this isn't good, and of the ones that are silver, many are turning green or white/grey. She has about 30 of the 40% Kennedys, a single 90% Kennedy, and 5 old dollars. One is an 1879 Morgan (no mint mark) and the other 4 are Peace dollars, (3 1922's and a 1925). The Morgan is pretty dark, but there are some shades of blue toning around the edges.
    IMG_20200128_161556.jpg IMG_20200128_161608.jpg

    I'm wondering what to tell her about the value of the 40% Kennedys. I know the silver content is about $2.40/ea, but I wouldn't want to pay that myself, and I know taking them to a Gold/Silver store she wouldn't get anywhere near that.

    Anything special about the Morgan? Doesn't look like it to me, except slightly the toning, but the pictures don't really show it that well.
     
    Inspector43 likes this.
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  3. myownprivy

    myownprivy Well-Known Member

    At the very least you'll get well over face for the 40%. Why not tell her a coin shop is likely to pay anywhere between $1.50 and $2.50. Then if you're so inclined, offer somewhere in between to save her the hassle.
     
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  4. myownprivy

    myownprivy Well-Known Member

    At the very least you'll get well over face for the 40%. Why not tell her a coin shop is likely to pay anywhere between $1.50 and $2.50. Then if you're so inclined, offer somewhere in between to save her the hassle.
     
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  5. GSDykes

    GSDykes Well-Known Member

    Some 1922s have good value, have them looked at before selling.
    The 1879 Morgan, has some potential value, perhaps $40.00. It seems to be perhaps in F-12 condition. Have it professionally cleaned. And be ready for the fallout, many folks fear coin restoration, not knowing or admitting, that many in their own collections were cleaned at one time.
    Gary in Washington
     
  6. medoraman

    medoraman Supporter! Supporter

    I guess I am old. What is a "MIL"
     
  7. masterswimmer

    masterswimmer Well-Known Member

    Mother in Law
     
  8. medoraman

    medoraman Supporter! Supporter

    I thought I knew a lot of new phrases, but had never run into that one. I thought he was saying MILF and left off the F.

    Acronyms are a funny thing, if everyone knows what they are they can save time. If half the people don't know, all it does is derail the conversation. :(
     
    Last edited: Jan 28, 2020
    juris klavins and Evan Saltis like this.
  9. tommyc03

    tommyc03 Senior Member

    That's why I ran a contest here some years back looking for the most complete list possible.
     
  10. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    "The worst person I know, mother in law, mother in law!
    She worries me so, mother in law, mother in law!" ~ 1961
     
  11. medoraman

    medoraman Supporter! Supporter

    My MIL only speaks Thai, and I do not understand her most of the time. Perfect combination, we get along great!
     
  12. longshot

    longshot Enthusiast Supporter

    I'd grade the Morgan something like VF20-25, and the toning is too dark for most. No cleaning attempt will improve it, IMO. $25 dollar coin at best, and a dealer will offer something in the teens.
     
  13. Inspector43

    Inspector43 70 Year Collector

    The Morgan looks like it has been working for a living. I like that. It has character that you don't find often.
     
  14. Collecting Nut

    Collecting Nut Borderline Hoarder

    If she wants to sell them offer to go to the local LCS with her. Make her an offer that's better than the dealers.
     
  15. -jeffB

    -jeffB Greshams LEO Supporter

    I'm sorry, but this is really terrible advice.

    Unless it's a spectacularly popular VAM, nothing you can do to that Morgan will make it a $40 coin. But "professional cleaning" is likely to take it from a $20 coin to a $14 (or whatever melt is that day) coin. At that state of wear, it's supposed to look scruffy. If it's worn that much and shiny white, most collectors will not want it for anything but silver.
     
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  16. GSDykes

    GSDykes Well-Known Member

    Well each person/collector has their opinion, you expressed your opinion. IMHO it looks to me like it was left in a fireplace. Ugly.
    Removing the thick black tarnish does not always leave it shiney, it will still look "scruffy". :cigar:. Especially if done by experts.
    Gary in Washington
     
  17. medoraman

    medoraman Supporter! Supporter

    Yeah, you never really know what is under toning. I have personally removed some very dark toning before, (many times in an attempt to save the coin, dark toning if progressed will eat a coin alive). I have been pleasantly surprised with a nice coin, but many times what came out was a coin already pitted and damaged due to too much toning already.

    Always remember toning is tarnish, oxidation, rust, whatever you want to call it. No one says rust on a car is beautiful, and all understand rust will eat through a car if left unchecked, but don't apply that concept to coins.
     
  18. Conder101

    Conder101 Numismatist

    A "professional cleaning" such as by the TPG's would possible make it look better, but would NOT make it white. But what it would do is cost $50 or more (shipping both ways, conservation, and slabbing) to make a $40 coin into a slightly better looking $40 coin.
     
    -jeffB likes this.
  19. -jeffB

    -jeffB Greshams LEO Supporter

    I'm also concerned that Googlers landing on this thread and seeing a recommendation for "professional cleaning" will take their grandparent's coins off to the nearest jeweler for professional treatment with the professional buffing wheel.
     
  20. GSDykes

    GSDykes Well-Known Member

    Ridiculous.
     
  21. Kentucky

    Kentucky Supporter! Supporter

    wanna bet?
     
    -jeffB likes this.
  22. Conder101

    Conder101 Numismatist

    Actually strongly possible.
     
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