Coin collectors - are proof sets, "commemorative" coins and silver certificates worth anything?

Question

Back in the 70s and 80s, my grandparents were forever buying annual proof sets of U.S. coins as well as "commemorative" coins which were supposedly produced by the U.S. mint.

My grandmother gave me these coins and I'm wondering if they have any real value ... or were my grandparents simply taken for a ride by mail order companies?

She also gave me about a dozen "silver certificate" 1-dollar bills from the 1930s. Are these of any value?

Any help is greatly appreciated!

Hey Blue T, thanks for the advice. But just to elaborate, these coins are proofs, sealed in plastic.

Answer 1

1 - Take your coin to a local coin dealer (trustworthy ones can be found - shop around). It never hurts to get a second opinion. They will be able to tell you so much more by evaluation the condition of the coins. They will also know the amount minted and what it is going for in today's market.

2 - Try posting pictures on this website (there are many experts here that can help you evaluate it - there also may be people willing to buy if you are trying to sell):
http://www.coincommunity.com/forum/default.asp

3 - Repost this question and include pictures. You can use websites like http://www.photobucket.com and include the link in your question.

Good luck!

P.S. You should not clean your coins. Most coin collectors see cleaning a coin as the equivalent of stripping down antique furniture and refinishing it.

When cleaning, the surface metal of the coin is often stripped. Anything used to scrub the coin will leave scratches (even 100% pure silk will leave hairline scratches). Most cleaning products will have some type of reaction with the coin's metal and the surface metal can also be removed in this manner.

Your best bet is to leave the coins alone. Cleaning the coin will leave traces - which can be found by the knowledgeable collector - who in turn will not buy the cleaned coin. Also if you ever wanted to send your coin into a grading company, they can recognize signs of cleaning and will send your coin back in a "cleaned" slab (also called a "body bag" in the coin world) - which is usually a greatly decreased value.

If you absolutely must must must clean your coins do not use the method described above as it will react with the metal in your coin. Use 100% acetone (do not use fingernail polish remover!). It must be 100% pure because other additives will react with the coin metal. Place your coin(s) in the solution for several minutes (do not leave in for long periods of time). Rinse your coin(s) in distilled water. Next remove your coins and either pat dry with a soft cloth or allow the coin to air dry (air drying is better as you don't risk scratching the coin with the cloth). NEVER scrub your coins!

I would still advise you to leave your coins as they are. They may not be bright and shiny but that is what most collectors prefer.

Edit: I know proofs come sealed in plastic but people will do weird things. Just a cautionary note I like to put in there before I read about another person cleaning their ancient roman coins with a "soft brush" and "dish soap".

If you tell us the years of the bills we can look them up for you. Same goes for the commemorative sets.

Answer 2

You really have two different animals here. Your answers for the coins will be found in one source, and the bills in another. Since most commemorative and proof coins are sealed, the only question is value not condition. I would suggest going to the library and get a coin valuation guide and look up your sets. And yes, there are many sets, especially from the 80's more than the 70's, that have significant value. If you do not find the sets in the book of US coins, more likely they have a lower value.

For the bills, check out a book on paper money value. Here you will need to grade them before you can find the value. The beginning of the book should have a guide on how to grade. I know its tempting, but try to be truthful to yourself in how good a shape they are really in. Then look up the appropriate series and denomination to find the value.

Remember that these guides are only approximate, and are retail guides, so if you sell to a dealer you would get a lot less than listed. This should at least show you which ones are more valuable though.

Answer 3

Silver certificates series 1934-1935H are worth different amounts and if the serial number has a star it is worth more. I need to know the series. One thing, the date on notes is not the date they were printed but the date authorized or the date a signature was changed. 1935 notes were printed up to the 1950's. In order to give you any info on the proof sets or the commemorative, the modern ones started in 1982 with the Washington 1/2 the in 1986 with the Statue of Liberty coins, i need to know what you have. With out the above info no one can actually help you. If you wish to email me a list lest me know and I will give you the email address to send it. I will be glad to help but please give me some time.

Answer 4

These coins are fairy rare. The Drummer Boy quarter was like only made in 1973. The Kennedy Half dollar isn't really worth a whole lot of money. Hold onto the quarter. In like 10 or 20 more years it will probably be worth money.

Answer 5

Proof sets are indeed produced by the US Mint... my dad bought em back in the 60s and 70s. They do tend to appreciate in value... although the sets from the early 60s tend to be more valuable because of the silver content.