OT: Coin collection

[LegendRider]

My father recently gave me his coin collection. He was never a serious numismatist - I think he just bought coins randomly with no real purpose or goal in mind. Just for fun really.

Should I get the collection appraised? If so, how do I go about choosing an appraiser? Any other suggestions on what to do with it?

[JohnS]

I would first get a book that values the coins so that you know beforehand what they are worth so that you don't get taken.

[William]

I would first get a book that values the coins so that you know beforehand what they are worth so that you don't get taken.

As someone who collected stamps as a kid, and has a baseball card collection (that I collected as a kid when it was for fun....and I still have them) make sure you record exactly what you have before you hand it over to some one to appraise. Photograph & descriptions. There are some unscrupulous types who will pull a switcharoo if you have something valuable and they think they can get away with it. Especially if you walk in saying you don't know what you have and you want it looked at. I had a few stamps swiped that way. My BB cards I wouldn't leave with anyone. I found a book that covered cards and their current market value to get an idea.

Just saying, be careful and cover you backside. Good luck.


William

[LegendRider]

As someone who collected stamps as a kid, and has a baseball card collection (that I collected as a kid when it was for fun....and I still have them) make sure you record exactly what you have before you hand it over to some one to appraise. Photograph & descriptions. There are some unscrupulous types who will pull a switcharoo if you have something valuable and they think they can get away with it. Especially if you walk in saying you don't know what you have and you want it looked at. I had a few stamps swiped that way. My BB cards I wouldn't leave with anyone. I found a book that covered cards and their current market value to get an idea.

Just saying, be careful and cover you backside. Good luck.


William

That's exactly what I'm worried about - I've heard it is not uncommon is the coin world. Thanks.

[keno]

take a look at http://www.pcgs.com/prices/, and see if you can find price ranges for the coins you have. These are retail prices and quite above what you might actually realize, but it's a starting point. You will see that the price curve moves upward very sharply at the high end of the grading curve, which is 70 grades, as I recall, which means that the condition of the coins is quite important. I've spent some time on the subject in the last few years, and happy to share what I've learned. One word of advice, though, is that it is a very slippery business, and if you do have any items "appraised" by someone who then makes you an offer, beware and proceed cautiously before selling. Also, do not handle the coins, attempt to clean them, or let them rub together. A single mar on a surface can drastically reduce value.

To William's point above, if you do have someone look at your coins, make them do it right in front of you so that they are not in a position to do any switching.

Feel free to email me at keno@blast.net once you have an idea of what you have.

keno