Jump to content
Nugget Shooter Forums

Looking for an "Honest" Coin Dealer/Collector ... Can You Help?


Recommended Posts

Hi guys and Gals ... I inherited a large number of coins from my father ... he was a collector of sorts ... I am not. So I would like to turn it into cash ... can't believe I just wrote that ... implied I want to turn cash into cash ... Hmmmm ... need another cup of coffee. Anyway if anyone knows of a coin dealer/collector that treats you fairly ... not looking to make a killing here ... I would appreciate the name and phone or email of him or her.

Thanks ...

Mike F

Link to comment
Share on other sites

Yup Fred ... I realize that but I have over 2000 coins ... maybe more ... to unload. Maybe I should get a coin book and check the values of some of them. I understand there is some kind of a grading system for coins and that seems to be hard to determine what is the right call for each. Some of the older silver coins are in like new condition but because they were stored 'loose' they may have tiny scratches under a magnifying glass which I understand from a couple folks decrease the value somewhat.

Question arises now ... Is there a coin value book that is more or less the collector's standard? When I was in the bookstore a few months ago I notice about 7 or 8 different coin books. Which one is the best one to buy?

Mike F

Link to comment
Share on other sites

This should be the book you need.

http://www.amazon.com/gp/product/0794836836/ref=pd_lpo_k2_dp_sr_1?pf_rd_p=486539851&pf_rd_s=lpo-top-stripe-1&pf_rd_t=201&pf_rd_i=0794833446&pf_rd_m=ATVPDKIKX0DER&pf_rd_r=1HEQTKMMCKCH45CZ0AS1

This is a wholesale book for prices that dealers pay. There is also a Red Book that has retail prices.

Link to comment
Share on other sites

Frank ... Just bought the red book ... thanks.

Jeff ... Thanks for the suggestion ... ordered the blue book to compliment the redbook and a 30x loupe to view all those scratches I mentioned! Figured I could use the loupe for prospecting too.

Thanks guys ... Mike F

Link to comment
Share on other sites

Frank ... Just bought the red book ... thanks.

Jeff ... Thanks for the suggestion ... ordered the blue book to compliment the redbook and a 30x loupe to view all those scratches I mentioned! Figured I could use the loupe for prospecting too.

Thanks guys ... Mike F

Good thinking on the loupe Mike....I use one to see some of the nuggets I find. :ROFL:

Link to comment
Share on other sites

Mike, they have almost the same book, but its called the BLACK book, it has Buy at prices and sell at prices. I have one, but its about 8 years old, they come out new every year. Go to Barns and Noble they should have them. Grubstake

PS the Black book goe's into how to grade them, in more detail.

Link to comment
Share on other sites

Mike

If you think you have some really valuable coins, it might pay to have someone grade them for you. A single grade up or down , can mean 100's or perhaps even 1000's of dollars. Quite a few collectors will only buy NGC graded coins anyway. I know you have over 2000 coins and I don't expect them all to be rare but some might be. Those could be the ones that benefit from the grading...

http://www.ngccoin.com/services/services.aspx

Steve

Link to comment
Share on other sites

Mike,

I don't have much faith in coin collecting. #1 it's very hard to find someone willing to pay what a book says the coin is worth imo. You have to find someone that really wants the coin for their collection. #2 if the coin is a key date then you have a much better chance of getting what it's worth. But unfortunately most coins are not key dated. #3 Also I think some locations are more likely to give you a fair price if coin collecting is a big thing in that location. #4 It ain't all that cheap to get a coin graded by a pro-grading outfit.

Here's the last 2 books I bought to try and learn a little more about coin collecting. The red book is basically for coin collectors and the blue book prices are supposedly prices that a dealer might be willing to pay.

If you watch e-bay that much you will see peeps who set or fix their price. But many days go by before you see it ever sold doing it that way. But if you do it that way, you won't get burnt. Many will sell their non key dates in bulk to move them faster. Coins that have quite a bit of wear.

But one thing is for sure, people like to bid rather then click a buy it now button.

Hope this helps.

Rim

post-26159-0-65931500-1350677436_thumb.j

Link to comment
Share on other sites

Mike,

Here's another site that night be helpful with your low-grade and of the non-key date silver coins, this site will give you the "melt-value" of all coins so you can see what the silver coins are worth according to silver spot price at any given time you visit the site.

http://www.coinflati...m/unitedstates/

If I were you I would sell the key date coins to collectors for as much as possible, but hang on too the non-key date and low-grade coins as silver spot price is sure to go up IMHO and be worth more later than now.

Link to comment
Share on other sites

Mike, I'll tell ya a Story, A friend of mine, Named "JIM OWENS" Found a 1851 $5 private mint coin, Shults and company, He took it to a coin dealer in Carmel Ca. the dealler offered him $20,000.00 right away, Well he figured if this guy was going to offer that, he better check into it, it turned out, it was one of 12 know to exist, So He contacted Butterfield and Butterfield action in San Francisco, They flew a guy to hand carry it to an action, Buttefield wanted the coin themselves, so instead of a coin action, they put it in a Stamp action, figuring they could get it on the cheap. Well there was so much put in the treasure mags. and news paper about it, a few coin dealers showed up, it was sold for $45,000.00 and was the best of the 12 known to exist, and it also had a mint flaw. Not bad for a gold coin found on the beach in Monterey,Ca. the size of a nickle. The story can still be found on the internet, know as the OWENS $5 gold coin. Grubstake

Link to comment
Share on other sites

In this depression coins ,and a lot more, have lost massive amounts of worth from the highs of the early to mid 90s. Coins have cost me a fortune and NO hahahaha anymore. Stamps also as the last of the collectors are ancient dying off breed too. Lotsa luck as ifn' me I'd definately wait for future prices to rebound as soooooooooo low currently-John

Link to comment
Share on other sites

weaver hillbillie ... Thanks for the reminder

I have been detecting a long time at the beaches back east ... I never clean a coin or artifact other than at worst a light toothbrush action with warm soapy water and just enough to get the earthy crud off ... never touched a coin to polish or tumbling ... learned that fortunately from the beginning from the first guy I went detecting with before I even had a beeper. We found an old 1946S walking (sometimes known as standing) liberty half dollar in pretty good condition ... I started to rub the coin with dirt attached when Dick had a fit and yelled at me to stop ... I never gave it a thought that I was scratching and reducing the value of the coin. If I remember all we did is place it in some soapy water to soften the earth encrusted around the edges and lightly brushed it away. I think we got $35 for that coin back then. So needless to say I have passed that knowledge on to everyone I coin shoot with for the first time.

Mike F

Link to comment
Share on other sites

My ultrasonic cleaner is all I use so as to not scratch. Loose coins kill their value by rubbing so seal seperately and keep fingers off as we are oily alkaline critters and actually etch into patina..In 2007 I sold $100,000 in coins for $37,000 to pay for sons last year of college so NO more coins for me as 2nd bad hit in 10 years....GOD BLESS MY GOLD-never lost a cent on that........John..John

Link to comment
Share on other sites

John ... That is exactly my fear. But the coins have at least face value if nothing else ... only time will tell what I have here. As I said before I really don't know coins so I need a little honest help. I know there are plenty of dealers out there that could easily skin a neophyte to coins like me. That is why I want to index the coins and check to see if I "might" have a valuable coin or two. At least I will have some knowledge when I do liquidate.

Mike F

Link to comment
Share on other sites

Mike,

you might take a few low to medium value coins to a coin show and gague the reaction of the dealers you talk to. This would be a way of learning what the dealer say, how they respond to your inquiries, etc.

If you belive silver will go up 20 to 50% In a few years hold on to what you have, you have a built in hedge and if inflation hits like it did with 20% interest, you are sitting fine. You might trade numistic value for gold or silver bullion, locking in collector profit.

Just a few thoughts

Wyndham

Link to comment
Share on other sites

Mike:

Most of the everyday coins, the common date ones, you will find that dealers will figure face x spot x .715 for an average of what they will pay.

The Blue and Red books are a good refrence but are printed several months in advance. they will still tell you which are the better ones.

Link to comment
Share on other sites

Thanks again guys ... this forum sure has a huge knowledge base and a bunch of great guys willing to share it. I truly appreciate all the help and suggestions.

Mike F

Link to comment
Share on other sites

https://www.chuckscoin.com/

Hey Mike, not knowing exactly what you have is a bit difficult. This company is here in Redding, Ca. Chuck who started it is still running the store. He is a friend of mine. Chuck had to dig gold with his siblings up in the Salmon River country of California when they were young or they did not eat and get clothes. He is almost eighty now. He handles a lot of collections and estates sales, small and large. I have never heard a bad word about him. May be worth a look. Hope this helps, TRINITYAU/RAYMILLS

Link to comment
Share on other sites

Mike,

Just a thought, what if you hired someone to sell them for you on consignment? They keep 5% and you get the rest. There could still be some funny business, but for an honest dealer it would be good encouragement for them to do the heavy lifting on the sales.

Paul

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...