Types of Coin Collections:
many of the coin collections found in estates are of the “ Hobby ” variety show : A casual collection with some argent dollars, and a few albums full of pennies and nickels. occasionally a rare coin might be found hiding in a blue Whitman album, but frequently the samara date coins are not portray. Selling these coins is normally a dim-witted process because it is easy to assign respect. A better mint solicitation might be more of the “ investment ” type. Some collectors built their collections with a keen eye and planned for the appreciation in value. Often we see Pre-1933 US Gold Coins, Mint Condition Morgan Silver Dollars, and error coins. An experience numismatist can help sort the collection and determine the grade and circumstance of high measure coins. then there are coin hoards : collectors who gather as many coins as possible : buckets of pennies, jars of silver medal coins, metallic detecting finds, and jugs of everyday pocket change. I ’ ve had to move a few of these with a forklift before .
Identify and sort a coin collection:
I have seen coin collections sorted and brought to me in many forms : a shoebox full of erstwhile prescription bottles, mounds of ziplock bags with eager beaver write, and erstwhile wooden chests broad of baby food jars. If you are sorting estate coins, getting them into the basic groups by appellation is a good begin. Set aside any bullion or gold coins, put the silver dollars in one box, the pennies in another, and thus on. It ’ sulfur besides a beneficial mind to sort out the 90 % and 40 % ash grey coins a well :
The following 20th Century US Coins are 90% silver:
- All Mercury Dimes: 1916-1945
- Roosevelt Dimes: 1946-1964
- Barber Quarters: 1892-1916
- Standing LIberty Quarters: 1916-1930
- Barber Half Dollars: 1892-1915
- Walking Liberty Half Dollar: 1916-1947
- Franklin Half Dollar: 1948-1963
- Kennedy Half Dollar: 1964 only
- Morgan Silver Dollars: 1878-1921
- Peace Dollars: 1921-1935
There are also some 20th C. Coins with Silver content:
- 40% Silver Kennedy Half Dollars: 1965-1969
- 40% Silver Select Eisenhower Dollars 1971-1976
- 35% “Silver War Nickels” 1942-1945
It ’ s not necessary to sort every one coin out by year and mint grade. A intimate coin professional will be able to pick out the rare and valuable coins within each group promptly .
Basics of Coin Condition (Grade):
Most of the coin dealers, auctions, and grading companies use the lapp language to assign grad and condition to coins.
Grading Scale for US Coins (Sheldon Scale, 70 points):
- Poor (Identifiable, worn smooth), PO1
- Fair (Some Detail) FR2
- About Good (Readable lettering) AG3
- Good (Nearly full lettering) G4
- Very good (Slight Detail) VG8
- Fine (All Lettering is sharp) F12
- Very Fine (All major features sharp) VF25
- Extra Fine (Overall Sharpness) EF45
- About Uncirculated (traces of wear at high points) AU50
- Choice AU (Original mint luster remains)
- Uncirculated Mint State UNC (Never put into Circulation) MS60+
- Perfect Uncirculated MS-70
agile note here : It takes professional numismatists and serious collectors decades to hone mint grading skills. There is a set to learn from the internet and from price guides, but don ’ thyroxine get carried away with trying to grade and assign a condition to your coins. I ’ ve had many clients come by the shop with dollar signs in their eyes because they graded their coins with their affection and not their mind .
Should I have my coins professionally graded?
The unretentive solution here is possibly. If you ’ rhenium willing to spend the time and money, you can have any coins graded and certified. The work is bare, but requires a bite of ferment. You fill out a imprint, pack and send the coin to PCGS : Professional Coin Grading Service or NGC : Numismatic Guaranty Corporation ( These are the two preferred grading companies in the business ) and wait for them to come back in the mail. They have an adept evaluate your coin, assign a class, then place it in a special plastic holder. This march makes perfect sense for high grade coins that are besides rare and valuable. It would be a pine away of money to do this for a coarse coin in inadequate condition. Grading is besides one of the best ways to tell if you have a fake or counterfeit coin. even in lower grades, a rare coin is worth more when an expert determines it is genuine .
What is my coin collection worth?
Once you have a basic sorting down, it ’ sulfur time to find out what your coins are worth. If you are dealing with a high end solicitation of rare and key date coins, you may want to stop here and find a professional. Get an appraisal for your coins before you sell. Selling rare coins for quick cash, or walking into a pawn shop with a key-date US coin credibly international relations and security network ’ t your best move. so, remember to take it easy and go slow. Understand what you have and figure out what it is worth before you sell it .
A fast and simpleton manner to find out what your coins are worth is to use the official Red book. I know, it ’ second “ erstwhile school ”, but you can still get the basics about rare coins, coin condition, and coin value from a book. Having a physical guidebook next to you while sorting out a mint solicitation is much faster than having to type every mint into google and screen through the thousands of results. The good newsworthiness is that all US coins have value, even the common coins. The Red Book is a basic price lead to US Coins and it gives the proper weights, sizes, amber and silver contentedness, mintage, and years for each coin. It ’ mho one of the easiest and fastest ways to determine if your mint is rare or common. Each Coin gets a dress of grading instructions so that you can assign a basic condition .
If you ’ re lucky, you have a collection of coins that are already graded or encased in formative holders from PCGS or NGC. This makes it comfortable to identify the coins and find out the stream market respect. Keep in take care that there is hush a deviation between what a dealer will pay and what the principal will sell for. It ’ sulfur helpful to think of this like the deviation between retail and wholesale .
Using a basic price steer, , you can get the calculate values for your mint collection. This is very helpful for hobby collectors and common coins. I can ’ t tension this adequate : If you are working on a dangerous mint solicitation with rare and eminent grade coins, go slow. Find a trustworthy professional and explore your options .
How and Where to sell your Coin Collection:
The market for US collectible coins is calm strong. There are lots of collectors, dealers, and buyers looking to build their collections and inventory. This is effective news program and regretful news : How do you choose the best method acting to sell ?
Options for selling your coin collection:
- Local Coin Dealers
- Direct to Collectors
- Online Coin Companies
- Auction House
- Sell Online
Sell your coins to a local dealer:
Selling your coins to a local anesthetic trader is a good choice. The best mint shops have a “ brick and mortar ” location, have been in business for a farseeing time, and have ties to the community. It ’ s a good sign if a coin dealer values their reputation and works to improve and maintain it. Do your homework : read reviews, ask for recommendations, and use your instincts .
Sell Coins Directly to collectors:
You may besides be able to sell your coin collection directly to collectors. If you have contacts in the collect community through a club or constitution, it is potential to market the solicitation directly to them. Don ’ thymine get down “ cerise picked ” : often collectors will be concerned in the best coins, or merely certain pieces for their collections. Remember that a dealer will frequently “ take the full with the bad ”. aIt ’ mho potential to hurt the overall prize of a solicitation by breaking up a stage set or selling off the best pieces .
Selling to Online Coin Companies:
There are respective reputable mint companies with a firm online bearing. They offer services where you can mail your coins and sell them. This method works particularly well if you already have a kinship with a caller, but can be confusing for person new to the coin market. I ’ ve never been a big sports fan of letting the coins out of my spy until they are sold. If you choose this route, make sure you know who you are dealing with and what you have BEFORE you ship the coins off to a foreign online. aside from the well-known mint companies, there are hundreds of smaller players with varied reputations .
Should I auction my coins?
Auction is a good choice for selling a mint collection. A good auctioneer will properly screen and marketplace your coins to the largest possible consultation. Choosing the right venue for your collection is significant. Use an auction with a strong online presence, and a good repute. Remember that the auction work takes some prison term and involves some gamble. Make certain you have a detailed inventory of the collection, and a clear contract outlining the terms of sale. There are different levels of auctioneers excessively : In some situations a belittled local anesthetic auction can get excellent results. But auctioneers with the widest online hearing, and best market techniques much achieve the best results. Make indisputable you ask questions, and understand how your coins will be sold.
Selling coins online (Self Marketing)
If you ’ ve had some experience with eBay, and possibly sold a few things on facebook market, it could be tempting to start selling your coin collection online. I love the idea that we all have the ability to entree these enormous online marketplaces, but I constantly worry about who is lurking in the shadows. If you ’ re comfortable list, transportation, and collecting payment then you might have success. But beware : eBay has evolved over the years and many of their policies heavily favor the buyer. In the event of a dispute, eBay will much side with the buyer and leave the seller without payment and without merchandise. even if the challenge is resolved amicably, the seller is much tied up for weeks or months while a challenge is settled. I ’ m not saying you shouldn ’ thyroxine grocery store your collection this way, but you should be mindful of the exposure .
Get multiple quotes:
The amount of money that a coin buyer will offer varies quite a bit. The aureate and silver market changes every few minutes, and the premiums that a mint dealer will pay for a given coin change every day. Different shops and dealers have access to different markets. If you want to get the most money for your coin collection, it pays to get multiple quotes. Since the values change so promptly, many buyers will not make the offer in compose, but take notes, keep track and get offers from several different buyers .
Beware of risks:
Gold and silver medal coins, bullion, rare coins, and collectible mistake coins can be valuable. flim-flam artists and assurance men are well mindful of coin values, and could take advantage of a sellers lack of cognition. Be leery of “ Road Shows ” that setup in a local hotel ballroom. These hucksters have senior high school expenses and make embarrassing humble offers. Pawn shops are an important part of the economy in many areas : They provide an important loanword service without having to use a bank. Around hera, the pawn shops buy a lot of power tools and equipment. I ’ megabyte sure they exist, but I haven ’ metric ton run into a pawn broke who was besides an professional numismatist. If you choose to sell online, watch out for corruptible buyers. I ’ ve seen people paying for thoroughly coins with fake coins, stolen credit cards, and bad checks .
What is the best way to sell a coin collection?
I wish there was a perfect answer ! Every collection is different, and one method may be better than others depending on the size and value of the collection. There is a distribute to be said about your comfort level and rapport with a principal. Working with a trader that has a good bedside manner is often preferred to a arrogant adept who doesn ’ thyroxine have the time of day for you .
Remember the basic steps:
- Sort and Identify your coins
- Research values
- Use a trustworthy professional
- Take it slow, don’t rush
- Get multiple quotes
- Watch out for scams
Work with an Expert
As a private buyer and agent I can offer personal service from a brick and mortar placement. I have ties to the community and value my reputation. If you would like to sell your scrap gold, estate jewelry, mint collection, or lavishness watch, I would like to earn your clientele. I am an feel buyer of antiques, art, diamonds, and greatest silver. I besides offer loose verbal appraisals by appointment. I promise a fair and dependable transaction .
-Ryan C. Brechlin
Contact Ryan about Coin Collections
Read more: About Witter Coin
Ryan Brechlin is based in Central Connecticut and services clients throughout the northeasterly including New York, Boston and Rhode Island Areas