My Dad has been saving coins for years - all years and types - how do i know what to keep?

Answer 1

Go to a store that has magazines, find a Coinage or a Coin World Coin Prices magazine. They will give you an Idea, as to what is worth what. You will get less if you decide to sell, dealers need to make a profit. In order to find where the mint marks are plus more info to help you figure out what you have, buy a Red Book a Guide to U.S. Coins. They come out every year and are $14 or less. The prices are however not usually accurate due to it is a retail guide and is only printed once a year. There is a lot of information in it and a guide to grading the coins. Grading is important, for it determines value. For instance a coin in grade good, could be Worth let's say $2.00, but in mint state, several hundred or even thousands. Sometimes there is a big difference just between the circulated grades. So as you see, you need a price guide as well as a coin guide. You may also get help from some members of a coin club in your area. Hope this helps.

Answer 2

Can you keep them all? If you pass them down to your kids, and they keep passing them down, they will be worth a fortune someday.

If not, keep the ones that are in "mint" condition -- shiny and not beat up.

It's really important to do your own research and learn about this hobby, because although there are many honest coin collectors and dealers, some are a bit unscrupulous and will take you for all they can.

Another way is to see if there is a coin club in your area, and go to a few meetings. Learn the basics, and find out from them who they think the reliable dealers in the area are.

If you trust someone else to deal with them, it will be easier for you, but you may lose some money on the deal. Time vs. money is always a problem. But, you can do this if you break it down in steps, and don't try to learn everything at one time.

Coins are much nicer to collect than many other things because they are relatively small, and they don't need a whole lot of care -- they can last for centuries even if buried under ground! But if coin collecting is just not your thing, find a good dealer to help you sort through the stuff.

Good luck!

Answer 3

What kind of coins has he been saving? U.S. coins? Foreign coins?

If he is collecting U.S. Coins, you may want to look at a copy of "The Official Red Book: A Guide of Unites States Coins" there is a 2007 edition available. Your local public library may have a copy.

If he has foreign coins: try "The Standard Catalog of World Coins" (also check your local public library)

These books will tell you the value of the coins depending upon their condition. Local coin dealers may also be of some help.

Answer 4

buy or go to the library and check out the coin books. Keep any gold or silver coins. Many coins are rare and should be researched. Go online to e-bay.com and look at the coins.
Don't just toss any out. You may get rid of a coin worth thousands. Sometimes jewlery stores know about coins. But never leave your coins with anyone nor do not let them out of your site. I wouldn't be telling too many people about your coins.