I have inherited a huge coin collection maybe 1000 different coins. I have Dollars, half dollars, quaters, dimes, nickels, pennies. I don't know anything about them. I do know that they range in date from the early 60 back to the teens. Any help finding someone to buy them would be great.
2006-10-31 07:50:54 · 5 answers · asked by Anonymous in Games & Recreation ➔ Hobbies & Crafts
how much does it cost, so people would know if they can afford it
you can put it on ebay or something to sell it, b/c there are a lot of coin collectors in the world that buy coins for collections
2006-10-31 08:00:40 · answer #1 · answered by jsmnklly 2 · 0⤊ 1⤋
Check your yellow pages for local dealers and get offers from several. Also ask the dealers if there are any coin shows in the area. At a show you can get offers from several dealers quickly.
I buy collections like this, so if you want to email me a general list I can tell you if I am interested. For starters, just the earliest and latest dates and number of coins of each denomination.
Taiping's advice about using the Redbook is good. If you have an idea which coins might have some value and have them separated before you talk to a dealer you are more likely to get a better price. If he knows there is a scarce coin in the group he will pay the going "dealer buy" price for it, but if you just dump a thousand coins on him, he's going to assume they are all the most common dates.
Also, with the current spot price of silver at $12 an ounce, any silver coins in your collection are worth 7 times face value or more. Definitely email me before you take any less than that.
2006-10-31 08:49:07 · answer #2 · answered by Knowledge 3 · 0⤊ 1⤋
You could take them to a coin dealer in your area. Most dealers though, don't have the time to go through a 1000 coins. They may charge you.Best thing, do some work on your own. Go buy a Red Book-A guide to U.S. Coins about $7 in soft cover. It will help in finding mint marks and you will get an idea of value. The prices in the book are retails and since the book comes out once a year, the prices can be off some. Use it as a guide. That way you can weed out the ones that you should spend. There is a grading guide for each coin type, this will also help ou figure out the coins grade. The higher the grade the more the coin is worth. Remember coins worth less than 2 or 3 dollars are really not wanted by most dealers. They usually have lots of them.
An Addition- the blue book is out dated before it even gets printed. Dealers go by what is called a gray sheet, or coin dealers news letter. Remember any one can be a coin dealer but go to one that has a store and keep away from coin shows you will not get the best prices there. Over the years I have found most U.S. coin dealers leave a lot to be desired, but world coin and ancient coin dealers seem to know more and are much more helpful, must be that fast buck thing, for U.S. coin dealers that makes most of them not all, so obnoxious. As for silver value you sure need a lot of it, to make any money. It even costs to sell it. I got my red book wholesale, you must have got taken. As for silver it goes up and down so 7 today 8 tomorrow. As to telling people to know what they are talking about, answerman needs to do the same. As for Ebay a great place to be taken, unless you really know coins and even then watch out. As I said anyone can be a dealer and can be in the business for a long time but does he belong to PNG????? People should also not be nit pickers and should read, for I did say the red book was a retail guide.
2006-10-31 08:31:36 · answer #3 · answered by Taiping 7 · 0⤊ 2⤋
Hi. I am a coin dealer in the Midwest. The "redbook" that was mentioned by previous posters is a "retail" guide and the values will be high, not indicative of what you could sell the items for... plus it sells for $14.95 softcover, not $7. My advice is to go to your local area coin dealer or bookstore and get a copy of the new 2007 BLUEBOOK (Handbook of US Coins- $9.95). It lists everything from early colonial issues to modern pieces, so if it's a US coin, it's in there...and will give you a reasonably accurate idea of what to expect for them based on condition. Then, armed with that information, you can try to sell the collection to a local dealer, or even perhaps try your hand at selling them yourself online (ebay, etc) if you are so inclined. By the way, a dealer is not adverse to looking through your collection if you are interested in selling it. Hope this info helps.
PS...junk silver coins are worth at least 8x face value in his market, not 7x; the poster who said that in a post above, is inaccurate. Answerers should actually know something about the market and the hobby before making offhand comments about it.
2006-11-01 04:05:20 · answer #4 · answered by answerman63 5 · 1⤊ 0⤋
Find someone who can Estimate what the are worth,then go on eBay,never sell it to the Person who tells you what the are worth,you could also go too a bookstore or Library,I am sure you could find out what the are worth about.just be careful,People like to take you for a ride if you don't know anything.Good Luck,Ks
2006-10-31 11:32:05 · answer #5 · answered by karl s 3 · 0⤊ 1⤋