OT: Rare/0ld coinage, what to do to sell

[Kingfisher]

A female coworker asked me for advice regarding her late fathers collection of old coinage. I know nothing about it, but she describes a collection of roughly two small boxes filled with late 1800s/early 1900s coinage.

Where/what should she do if she wants to sell?

[jlyon]

Sort of like selling off a bike if it is top dollar she wants it would be one a time on EBAY; but that is quite a bit of work. Maybe she can find a kid with alot of time on his hands to handle the pictures/posting/shipping.

Worst possible place would be a pawn shop and I don't know that most coin dealers would be much better.

[bargainguy]

I'd spend a few bucks on an independent appraisal from a coin collector.

I've heard Clark Howard (the consumer guy) state that once you have a rough value on each item, go to a coin collector's show and shop each item around to individual dealers, then take the best offer on each item. It's a lot of walking, though.

As to whether you get the best deal this way, I suppose it depends on how rare/valuable your pieces are. If you're in no hurry, perhaps a good way to start. Otherwise online is OK, but take good pictures and have the independent appraisal assessment ready for each item.

Don

[jr59]

Originally Posted by bargainguy

I'd spend a few bucks on an independent appraisal from a coin collector.

I've heard Clark Howard (the consumer guy) state that once you have a rough value on each item, go to a coin collector's show and shop each item around to individual dealers, then take the best offer on each item. It's a lot of walking, though.

As to whether you get the best deal this way, I suppose it depends on how rare/valuable your pieces are. If you're in no hurry, perhaps a good way to start. Otherwise online is OK, but take good pictures and have the independent appraisal assessment ready for each item.

Don

This is good advice.

Ebay is a pain and most on there dealing in coins make more off of postage than the coins.

One thing to keep in mind is old does not = value.
Rare and in perfect shape=value.

Silver is high right now so that is working for you.
Good luck and don't be in a hurry to maximise your profit.
It takes work.

[572cv]

It will be worth it to go through the collection, organize, see what might be there. Coin quality levels range from poor to uncirculated . There are valuations and auction results available on line. An early US minted penny went for a cool million bucks recently. You wont have that in the collection, but you might fund a new Serotta! If you have a 1909 vdb, you'll be there.

[Joel]

Very important. Do not go to a hotel 'buyer' to do this.

Find an established coin shop in your city for the first bid. Then go from there.

As mentioned - condition is far more critical than age. I was involved in this area for a long time and there are more rip off artists out there on buying than there are e-bay sellers of 'NOS Confente frames'.

[tv_vt]

Might be worth investing in a couple of (new) old coin books to get a sense of what things are going for and how they are valued. I did that with some hand-me-down coins. It was a nice learning experience. Tell her to take her time - she may find it well worth the trouble.

[Joel]

Yes, silly me, I should have mentioned "The Red Book".

http://www.amazon.com/2012-Guide-Uni.../dp/0794833497

[johnmdesigner]

But I just rescued a large stash of old "silver" dollars from my parents house and they are black as pitch. Should I clean them? What is the best method?

[tv_vt]

Do not clean them if you are planning on selling them!! Buyers are very picky about scratches and crappy attempts to clean coins. Leave as is. Won't cost you anything in resale value.