Coins
Feb 9, 2014 14:13:43 #
I inherited a coin collection from my Dad and was wondering how I should go about getting it appraised?
Feb 9, 2014 14:24:38 #
gemlenz wrote:
Go to an appraiser.I inherited a coin collection from my Dad and was wondering how I should go about getting it appraised?
Feb 9, 2014 14:42:44 #
How do you know you won't get ripped off?
tainkc wrote:
Go to an appraiser.
Feb 9, 2014 14:52:35 #
Find a coin show promoter and ask for a reputable dealer. Most of these guys work from a "Gray Sheet" which is a weekly publication of the American Numismatic Society and acts as a sort of "Blue Book" for coins. A reputable dealer will offer from 65 to 70 percent of the coins Gray Sheet value. Grading of the coin is what you need to watch. Most guys are honest because a good reputation is critical in that business.
Understand that coins are valued by rarity and condition and to a minor extent, popularity, but not age. If you aren't sure about an offer ask to see the Gray Sheet price or ask the dealer to explain his offer. Of course he will want some room to make a profit.
There are cases where the metal (silver) is more valuable than the numismatic value.
Good Luck.
Understand that coins are valued by rarity and condition and to a minor extent, popularity, but not age. If you aren't sure about an offer ask to see the Gray Sheet price or ask the dealer to explain his offer. Of course he will want some room to make a profit.
There are cases where the metal (silver) is more valuable than the numismatic value.
Good Luck.
Feb 9, 2014 14:56:49 #
thx... some of the coins are categorized, but most are just wrapped in coin wrappers...Off the bat I don't really see anything rare, like Indian head pennies, but you never know. Of course I have no idea what I'm looking at either. thx for your comments and help. I'll let you know how it works out.
Dave Johnson wrote:
Find a coin show promoter and ask for a reputable ... (show quote)
Feb 9, 2014 15:01:15 #
Do that gemlens, I'd like to hear how it went, PM me when you get them sold.
Feb 9, 2014 15:28:15 #
I see there is something called a Red Book and Blue Book. The Blue Book price is generally the amount you can expect a coin dealer to pay you for your coins, whereas the Red Book value is the retail price the dealer plans to sell your coins for.
Dave Johnson wrote:
Do that gemlens, I'd like to hear how it went, PM me when you get them sold.
Feb 9, 2014 15:46:09 #
I'm only familiar with the Gray Sheet. My father (a coin dealer) might know about those others. All of these reference sheets are "suggested" prices. Reality may differ a bit.
Feb 9, 2014 15:56:59 #
too bad he's not in Arizona...
Dave Johnson wrote:
I'm only familiar with the Gray Sheet. My father (a coin dealer) might know about those others. All of these reference sheets are "suggested" prices. Reality may differ a bit.
Feb 9, 2014 16:03:33 #
Yeah, He and Mom are in Florida now (Snow Birds). I think you'll do OK.
Feb 10, 2014 06:27:35 #
First - catalog (and photograph) all of the coins front and back before you leave them, with anyone for an appraisal. Get appraisals from several reputable coin dealers. If there are large national coin auctions, that might be your best bet, although the commission might be high - and you can always go to the big national auction called "EBay"!
Feb 10, 2014 08:00:35 #
bvm
Loc: Glendale, Arizona
gemlenz wrote:
I inherited a coin collection from my Dad and was wondering how I should go about getting it appraised?
The first thing I would do is photograph each coin, both sides, with something that identifies you as the owner.
Since you are not familiar with their value ( the appraiser will ) you want to be able to prove they're yours.
One coin could be worth a lot of money and you have no idea of that value. The appraiser will, watch his eyes.
Don't let them leave your sight. Don't leave them at the store. Bring a third party as a witness.
I love to do macro photography. Did you ever notice the 26 states on the back of a $5 bill? And why there's only 26?
Feb 10, 2014 08:02:54 #
http://www.numismatics.org/
they may be able to lead you to reputable dealers... collectors... in your area.
jvo
they may be able to lead you to reputable dealers... collectors... in your area.
jvo
Feb 10, 2014 08:03:08 #
ottopj
Loc: Annapolis, MD USA
There is a red book. Plug into your browser:
http://www.amazon.com/s/ref=nb_sb_ss_i_0_12?url=search-alias%3Daps&field-keywords=coin%20redbook&sprefix=coin+redbook%2Caps%2C131&rh=i%3Aaps%2Ck%3Acoin%20redbook
This willtake yu to amazon.com and the current 2014 edition is about $12.
http://www.amazon.com/s/ref=nb_sb_ss_i_0_12?url=search-alias%3Daps&field-keywords=coin%20redbook&sprefix=coin+redbook%2Caps%2C131&rh=i%3Aaps%2Ck%3Acoin%20redbook
This willtake yu to amazon.com and the current 2014 edition is about $12.
Feb 10, 2014 08:07:07 #
bvm wrote:
... Did you ever notice the 26 states on the back of a $5 bill? And why there's only 26?
The reason that the five dollar bill only has 26 states appearing on it is because the pictures on it are flat images. The names of the states appear on the picture of the Lincoln Memorial that is on the bill and as only the front of the building is visible, only the states featured on that part of it are showing on the five dollar bill.
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