Coin collection

[shopgirl61]

Where would I go to get an appraisel (and some honest info) about a massive coin collection? they consist largely of Eisenhower silver dollars and many, are uncirculated and mint. there are also uncirculated $2 bills and some 1940s-50s mexican pesos that have the most intricate drawings on them as if done by hand? There is also an authentic nip 1964 Prez Kennedy coins with the inscription underneath; "ask not what your country can do for you...
(this one I can't find on ebay) and my guess is they were issued soon after his assasination.

 

[Tomasso]

I would choose an auction house over a dealer. There are plenty of each in SF.

 

[shopgirl61]

I would choose an auction house over a dealer. There are plenty of each in SF.

What is an auction house? sorry to sound ignorant but I first need to know what this consists of and what, if any, is the value.

 

[draws]

I would also suggest an auction house. Regardless of what you think the grade is, even if you are accurate, dealers will always downgrade your or actual grading by at least one full grade and even more if they can get away with it. They count on the ignorance of the seller. An auction house, on the other hand, will place your collection up for auction and place your items up for sale either in sets or individually depending on value. Dealers do go to the auction houses and will probably bid one or two grade prices below actual value giving the collector a chance to bid closer to the actual value and still get a deal. The auction house will then charge the high bidder a premium percentage which allows them to cover their costs and profit margins. It is usually pretty resonable and all bidders accept this surcharge as part of the bidding process. I have obtained some great deals at action houses knowing that dealers were there. Good Luck.

 

[Mike in Seattle]

An auction house is in the business to sell collections of various things, including coins, and could give you an idea of what the worth of the coins are. Going to a coin shop is generally iffy because knowing that you're a novice, they'll probably give you a lowball price for what you have. An auction house only acts as an agent and gets a small cut of the total sale price as their commission. They also publicize their events and would place your collection on a day where other coinage is up for auction, and therefore, more apt to have an audience of those who wish to buy coins.

 

[Foofoogal]

Well, as an antiques dealer not all auction houses are the same.
http://www.auctioneers.org/

Here is a good coin information forum.
http://www.realcent.org/

IMHO my recommendation to you on this is go very, very slow.

president kennedy 1964 coin memorial (type this in Google and you will find one like yours.)
for $12.50.

 

[shopgirl61]

Well, as an antiques dealer not all auction houses are the same.
http://www.auctioneers.org/

Here is a good coin information forum.
http://www.realcent.org/

IMHO my recommendation to you on this is go very, very slow.

president kennedy 1964 coin memorial (type this in Google and you will find one like yours.)
for $12.50.

Nope this is for A coin and not a set like i have.
this is going to take aLOT of work...

 

[Foofoogal]

Whatever you do. Do not polish or clean them at all.
Do your research.

 

[shopgirl61]

Whatever you do. Do not polish or clean them at all.
Do your research.

with some 50# worth thats going to be aLOT of research.

 

[fluteplayer07]

No soap. No cleaner. No polish. Don't rub off dirt or grime. Any of the above will greatly devalue the coin.

I'd also suggest a coin pricing book from your local bookstore; the Red Book series is what I use, or any of the coin pricing magazines (Coin Prices, etc.) It'll give you an idea of what to look for in prices, and the basic coin collector's terminology.

 

[kyboots]

This is really a wide open problem because unless you have some rarities, it is almost impossible to get a major auction house interested in your collection. It is worth an attempt. Most of the time you will have to go to a local dealer. You should get an idea of what coins are most valuable before you go, but most importantly go to someone that a friend can recommend and always get another opinion. Most people have a tendency to over grade their coins, thus you believe it is worth more than it really is. Get an idea of value by looking at Ebay. It really can be the market place. Most silver coins are basically worth their value in the Silver alone, remember there were millions of these produced. For instance the Eisenhower Dollars that circulated had no silver and thus are only worth a dollar. Whereas the collectibles Eisenhower's that are in plastic or were proofs are 40% silver and worth at least $10 in Silver alone. These are the 1971, 1972, 1973, 1974, and 1976 proofs or collectible. Those that circulated were 1971 through 1978 and have no more value. As pointed out above absolutely never clean a coin. If you do it will be value less. I sold my coin collection at auction in the early 1990s. To this day I really miss it, but eating is more important. It always was so neat to take a 100-year-old dollar and hold it, just imagining what famous individual may have used it or held it years ago. The very early coins by far were the greatest. It was a great hobby but I got into it almost too much. One point I forgot to comment on and is critical. NEVER let a dealer purchase just a few coins that he wants. He is "cherry picking" your collection and will purchase only the good coins leaving you with the dregs. It always is "all or none" really adhere to that advice. Please send PM if I can help or you want my opinion. For what it's worth.---John

 

[shopgirl61]

This is really a wide open problem because unless you have some rarities, it is almost impossible to get a major auction house interested in your collection. It is worth an attempt. Most of the time you will have to go to a local dealer. You should get an idea of what coins are most valuable before you go, but most importantly go to someone that a friend can recommend and always get another opinion. Most people have a tendency to over grade their coins, thus you believe it is worth more than it really is. Get an idea of value by looking at Ebay. It really can be the market place. Most silver coins are basically worth their value in the Silver alone, remember there were millions of these produced. For instance the Eisenhower Dollars that circulated had no silver and thus are only worth a dollar. Whereas the collectibles Eisenhower's that are in plastic or were proofs are 40% silver and worth at least $10 in Silver alone. These are the 1971, 1972, 1973, 1974, and 1976 proofs or collectible. Those that circulated were 1971 through 1978 and have no more value. As pointed out above absolutely never clean a coin. If you do it will be value less. I sold my coin collection at auction in the early 1990s. To this day I really miss it, but eating is more important. It always was so neat to take a 100-year-old dollar and hold it, just imagining what famous individual may have used it or held it years ago. The very early coins by far were the greatest. It was a great hobby but I got into it almost too much. One point I forgot to comment on and is critical. NEVER let a dealer purchase just a few coins that he wants. He is "cherry picking" your collection and will purchase only the good coins leaving you with the dregs. It always is "all or none" really adhere to that advice. Please send PM if I can help or you want my opinion. For what it's worth.---John

Many I have ARE uncirculated and are contain pure silver, prolly 40%. I cannot even imagine how the heck i'm going to sift through them, its not as if I can drop them off, leave for inspection and pick up later, they could easily be stolen, given the quantity alone! I wish i had a digi camera and i'd post some pic's... my ds broke my favorite, no longer made, aqua samsung (

 

[kyboots]

You never leave your collection with anyone. You have to take time when the dealer has a slow day and sit there and go through them with him. If they have silver and enough of them he will be a buyer. Its not something to do on a Saturday afternoon when dealers have a large crowd. They buy collections all the time. Remember you don't make money without a little work, at least go through and take out the Monopoly money and the regular coins.Nothing ventured nothing earned.---John