SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Any numismatists here?
Page 1 2 
Go
New
Find
Notify
Tools
Reply
  
Any numismatists here? Login/Join 
I believe in the
principle of
Due Process
Picture of JALLEN
posted
An old neighbor contacted me.

quote:
I have a problem. I have some old coins that my wife inherited, which I would like to cash in, but I don't know anything about the hobby. There are a lot of places around that buy old coins, but how do I know I'm not getting screwed? How would you suggest that I go about it?


My pal is an old USNA grad, a nuclear submariner, long retired, and deserving.

Any suggestions?




Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
 
Posts: 48369 | Location: Texas hill country | Registered: July 04, 2005Reply With QuoteReport This Post
Thank you
Very little
Picture of HRK
posted Hide Post
quote:
numismatist



There is a national organization they may be able to guide him. He could of course go to different coin shops and see what they offer, of course he'd want to research the coins to see what value they have.

Like Diamonds, coins have various grades based on condition, then there is coin type, age,

https://www.money.org/

There are various online coin valuation sites, of course he'd have to know more about the coin to get a good value.

https://www.pcgs.com/prices/
 
Posts: 24824 | Location: Gunshine State | Registered: November 07, 2008Reply With QuoteReport This Post
Fire begets Fire
Picture of SIGnified
posted Hide Post
Not a coin collector since age 14, but the internet is loaded with pricing information which heretofore was fairly hard to come by. Hopefully a real expert might chime in.





"Pacifism is a shifty doctrine under which a man accepts the benefits of the social group without being willing to pay - and claims a halo for his dishonesty."
~Robert A. Heinlein
 
Posts: 26758 | Location: dughouse | Registered: February 04, 2003Reply With QuoteReport This Post
Needs a check up
from the neck up
Picture of Timdogg6
posted Hide Post
I have dealt with my in laws enough to know that any coin/jewelry shop that will even make an offer will be at 40-50% of what they sell it for. Best advice I can give is to go to 3 or 4 and bid them against each other and expect to get 60-70% of what you wanted for it.


__________________________
The entire reason for the Second Amendment is not for hunting, it’s not for target shooting … it’s there so that you and I can protect our homes and our children and and our families and our lives. And it’s also there as fundamental check on government tyranny. Sen Ted Cruz
 
Posts: 5227 | Location: Boca Raton, FL The Gunshine State | Registered: July 30, 2002Reply With QuoteReport This Post
The air above the din
Picture of Aquilon
posted Hide Post
quote:
Originally posted by JALLEN:
Any suggestions?


Some years back, I frequented the forums at cointalk.org. That was a good community at the time where you could get decent information from folks in the hobby/business. You might take a look there. Haven’t been there in years, though, so caveat emptor.

I also agree with the poster above who said check in at PCGS.com.
 
Posts: 967 | Location: Virginia | Registered: May 16, 2007Reply With QuoteReport This Post
Member
posted Hide Post
Depending on the number of coins- I'd google each one and see if there's anything significant about the coin, the date, or the mint mark.

This could tell you whether it's worth more than scrap.

A good collection would be worth taking to experts but most are probably just melt value.


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 13535 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
Member
posted Hide Post
HKR has given the best advise. Your friend will have to check each coin for condition and rarity. I metal detect and have found a few key date coins. I found a 1909 S VDB wheat back penny. It graded extra fine with corrosion. Coin dealers offered 150.00 to 250.00. It sold for 800.00 to a collector. Research and don’t be in a hurry. Good luck to your friend
 
Posts: 51 | Registered: June 29, 2015Reply With QuoteReport This Post
Funny Man
Picture of TXJIM
posted Hide Post
Is he in Texas or California? My dad is retired but deals in both coins and bullion as a hobby/business. He could potentially examine the collection in person if local.


______________________________
“I'd like to know why well-educated idiots keep apologizing for lazy and complaining people who think the world owes them a living.”
― John Wayne
 
Posts: 7093 | Location: Austin, TX | Registered: June 29, 2010Reply With QuoteReport This Post
I believe in the
principle of
Due Process
Picture of JALLEN
posted Hide Post
He’s in Whackyland

Any other thoughts, anyone?




Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
 
Posts: 48369 | Location: Texas hill country | Registered: July 04, 2005Reply With QuoteReport This Post
Member
posted Hide Post
Long Shot- Ask David Truong if he knows a reputable coin dealer? David deals in gold and silver, is in California and might have had the need to have coins appraised.


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 13535 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
SIGforum Official
Eye Doc
Picture of bcereuss
posted Hide Post
Off topic...but which submarine(s) did he serve on?

1980's era, by any chance?

Boomers?
 
Posts: 3075 | Location: (Occupied) Northern Minnesota | Registered: June 24, 2003Reply With QuoteReport This Post
Conveniently located directly
above the center of the Earth
Picture of signewt
posted Hide Post
I too was wondering what to do with my old hobby trailings from my wonder years of 1950s-60s.

Haven't found solution yet. One unexpected discovery, was how hard to see all those little tiny dates have become.....


**************~~~~~~~~~~
"I've been on this rock too long to bother with these liars any more."
~SIGforum advisor~
"When the pain of staying the same outweighs the pain of change, then change will come."~~sigmonkey

 
Posts: 9882 | Location: sunny Orygun | Registered: September 27, 2009Reply With QuoteReport This Post
Member
posted Hide Post
Where at in California? I live in the Sacramento area.
I know of a couple of shops in the area that I have used to sell personal as well as estate items.
There are many factors that effect the price of coins.
 
Posts: 375 | Location: The once great state of California | Registered: November 05, 2006Reply With QuoteReport This Post
Member
posted Hide Post
Jallen- could you get pictures? I can send you a list of coins to inspect further. Pcgs.com price guide is very helpful but is confusing if you aren’t versed in the terminology and grading. Shops will pay you about 1/2 value. eBay is a good way to sell but requires quite a bit of time.

If you do have any of real value, use pcgs or ngc to have them graded and slabbed.

If no pictures, send me a list of the types and I can send you dates to look for And ballpark values.

Pick out the good ones to sell separately then visit the local stores for an offer. If the offers are poor, sell them as lots based on type on eBay.

If there is any early American gold or silver I might be interested.
 
Posts: 1076 | Location: Ohio | Registered: August 22, 2008Reply With QuoteReport This Post
I believe in the
principle of
Due Process
Picture of JALLEN
posted Hide Post
quote:
Originally posted by bcereuss:
Off topic...but which submarine(s) did he serve on?

1980's era, by any chance?

Boomers?


He was USNA ‘52-53, I believe, and was yanked out of whatever duty he was on and ordered to Nuclear Power School whether he wanted to or not. He retired as a O-6 after 30 years and worked on reactors after that.

I don’t know what boats he was on. I met him at a Mensa meeting and it turned out he was a near neighbor.




Luckily, I have enough willpower to control the driving ambition that rages within me.

When you had the votes, we did things your way. Now, we have the votes and you will be doing things our way. This lesson in political reality from Lyndon B. Johnson

"Some things are apparent. Where government moves in, community retreats, civil society disintegrates and our ability to control our own destiny atrophies. The result is: families under siege; war in the streets; unapologetic expropriation of property; the precipitous decline of the rule of law; the rapid rise of corruption; the loss of civility and the triumph of deceit. The result is a debased, debauched culture which finds moral depravity entertaining and virtue contemptible." - Justice Janice Rogers Brown
 
Posts: 48369 | Location: Texas hill country | Registered: July 04, 2005Reply With QuoteReport This Post
Master of one hand
pistol shooting
Picture of Hamden106
posted Hide Post
This book has served me well.

https://www.amazon.com/2019-Of...ativeASIN=0794845711



SIGnature
NRA Benefactor CMP Pistol Distinguished
 
Posts: 6476 | Location: Oregon | Registered: September 01, 2001Reply With QuoteReport This Post
Smarter than the
average bear
posted Hide Post
quote:
Originally posted by JALLEN:

... I met him at a Mensa meeting ...


I am not surprised!

I am not experienced with coins, but the one thought I had is to see if there are auctions that will feature coins. The auction house gets a percentage, and thus has an incentive to make sure the coins are properly represented and exposed to the right parties.
 
Posts: 3582 | Location: Baton Rouge, Louisiana | Registered: June 20, 2006Reply With QuoteReport This Post
Oriental Redneck
Picture of 12131
posted Hide Post
All good advice. But, this is what I would do:
quote:
Originally posted by braillediver:
Long Shot- Ask David Truong if he knows a reputable coin dealer? David deals in gold and silver, is in California and might have had the need to have coins appraised.



Another recommendation is to try Heritage Auctions. They are one of the largest, if not the largest, coin/currency/memorabilia auction houses in the country. Highly reputable. I dealt with them all the time, when I was into coins. Their HQ is in Dallas, but they have branches all around the country, one is in Beverly Hills.

https://www.ha.com/heritage-au...beverly-hills-121913

Make an appointment with them to bring in the coins for appraisal.


Q






 
Posts: 28491 | Location: TEXAS | Registered: September 04, 2008Reply With QuoteReport This Post
Funny Man
Picture of TXJIM
posted Hide Post
If he can access a flat bed scanner he could scan the coins into a .jpg file a dozen or so at a time. This would give him an easy way to shop the collection broadly. Scanned this way the coins will show condition quite well, far better than a picture and much faster as they can be done in lots. Scan the front, flip and scan the back. He will have two .jpg files for each lot.

My dad uses a flat bed scanner in this manner when selling online.


______________________________
“I'd like to know why well-educated idiots keep apologizing for lazy and complaining people who think the world owes them a living.”
― John Wayne
 
Posts: 7093 | Location: Austin, TX | Registered: June 29, 2010Reply With QuoteReport This Post
Member
Picture of craigcpa
posted Hide Post
I use these guys.


==========================================
Just my 2¢
____________________________

Clowns to the left of me, Jokers to the right ♫♫♫
 
Posts: 7731 | Location: Raleighwood | Registered: June 27, 2006Reply With QuoteReport This Post
  Powered by Social Strata Page 1 2  
 

SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    Any numismatists here?

© SIGforum 2024