Coin Collectors?

[imoldernu]

Almost forgot about the "safe" box in the closet. Basically a coin collection that my mother had kept. About 20 years ago, I had a collector take a look, and he said there were a number of semi valuable coins in the collection, and he encased the "best" in little coin packets.

So... I wondered... what has happened to coin collecting in the interim? Has the value gone up, or maybe down... maybe because of interest in the hobby?

Is there a website or sites, that offer "research" without getting too technical, or deep? A place where I can enter like... a "1910D" dime... and find a value range.

My personal interest doesn't lie in this, so it's not a driving force, but at the same time, I wouldn't like to just give it away in a garage sale, if there's more value there. (or maybe a 1916 winged mercury head dime...)

Perhaps, all told, 100 coins, and some very old paper bills.

 

[KCGeezer]

I still have some coins that originally came from my mother’s aunt. When she passed, the 3 sisters divvied up jars and jars of coins. Mom gifted each of us ‘kids’ probably 50+ coins some 15 years ago. Best one is a 1887 $5 gold piece.
This is the site I think I used when she asked me to divide hers into 6 equal piles.

http://cointrackers.com

 

[bingybear]

Search the web. PCGS is a company that grades coin (condition). There are many things that go into price. Like most collectibles to make the best money you need to find the retail buyer. Dealers give you less as they need to make a profit.

 

[Car-Guy]

The coin market "had" really gone up a lot in the past 15 to 20 years but most have dropped a good bit from their highs in just the past few years. However, many of the key coins (like the 16d Mercury dime you mention) have held their value pretty well. The free price guides you'll find on line (like PCGS or CDN) are basic retail guides. In other words prices you should generally expect to pay a dealer for a particular coin in a particular grade. Some will ask more, some a little less. When selling your coins to a dealer you can expect to get about 25 to 30% less than the price guide list.

If you'll post a good picture of your 16d dime (both front and back), I can give you a good ballpark estimate of the grade and estimated value. Or send me a PM if you prefer. To give you a current price range of an undamaged but well worn 16d dime "or" one that you can can just read the date and mint mark on, could bring you 4 or 5 hundred dollars. One that is almost uncirculated (called AU) is worth 9 to 10k. Mint state (or uncirculated) 16d dimes can easily run 15 to 20k+.

BTW, coins like that, once certified and graded (which is easy to do) are "extremely" easy to sell on line or at a local coin show.

 

[imoldernu]

If you'll post a good picture of your 16d dime (both front and back), I can give you a good ballpark estimate of the grade and estimated value. Or send me a PM if you prefer. To give you a current price range of an undamaged but well worn 16d dime "or" one that you can can just read the date and mint mark on, could bring you 4 or 5 hundred dollars. One that is almost uncirculated (called AU) is worth 9 to 10k. Mint state (or uncirculated) 16d dimes can easily run 15 to 20k+.

BTW, coins like that, once certified and graded (which is easy to do) are "extremely" easy to sell on line or at a local coin show.

Thanks for the reply...I apologize about the dime... it was just a bit of "bait' to see if anyone would pick up on the value. You did! I do have some quarters that are supposed to have some decent value, and a number of "silver" coins. The person who did the quick estimate way back when, did protect the ones that were good or better and deemed to have value. Will try the PCGS.

 

[Souschef]

I started many years ago, but got disappointed in filling out some sets. As an example, the original Lincoln penny set minus the 4 "key" coins is almost worthless.
Proof sets were not much better.
I recently priced over 100 Indian Head pennies for a neighbor. It was fun sorting them by dates,and looking up the value. Even though the coins were over 100 years old, they were not worth a lot.

 

[sengsational]

I bought mint wrapped rolls in the early days of the state quarter program, when they had limited quantities of quarters rolled and packaged at the mint. They changed the ordering process, so I quit buying. Good thing too because I can't even get my original investment back, based on the eBay recent sales.

 

[DFA]

Another good site is NCG, they are a grading service and they have prices and pictures of different grades and what to look for.

 

[erkevin]

I began collecting in the early 70's and have a pretty extensive collection. My take is that numismatics is not a popular hobby among young people anymore. Prices for coins have been pretty stagnant in recent years with the exception of coins in the highest grades among popular issues. Sites like the NGC site graph values over time and IMHO, looks pretty bleak. I haven't added any new coins in several years.

 

[Car-Guy]

I began collecting in the early 70's and have a pretty extensive collection. My take is that numismatics is not a popular hobby among young people anymore. Prices for coins have been pretty stagnant in recent years with the exception of coins in the highest grades among popular issues. Sites like the NGC site graph values over time and IMHO, looks pretty bleak. I haven't added any new coins in several years.

I have been in numismatics most of my life (started when I was about 10) and I have been extremely active in the past ten years or so. The bottom fell out (value wise) in the past two years but it "seems" to be bottoming out now. I see very few younger collectors at the coins shows. While the coin shows are still well attended, folks in attendance look more like they should be in a meeting of the VFW or prospects for the hair club for men conventions. Most dealers are in it strictly as a business now, not as a hobby and the real knowledge base is fading away pretty fast.

It is true though that the truly rare coins that have been certified and are in higher grades have held their prices. However that's less than 5% of the collecting market.

 

[ziggy29]

I collected for most of my life until I was laid off from my Megacorp job. That took away the disposable income I had for collecting. I suppose in hindsight, selling a few years ago would have been ideal but I still enjoy what I have.

 

[imoldernu]

Reporting in....
I picked, at random, one of the coins that had been "sealed" in a card, and went to the website to see what it might be worth... Am not ready to go through understanding the rating system so not sure what I'm looking at...

The coin is an 1899 Morgan Silver Dollar, and the guy that looked over the collect about 20 years ago, had marked it as VG. When I first looked it up, the $$$ shown was $24,000... so I knew it wasn't that coin. More likely $46 which made more sense. I just didn't understand the many columns and numbers and abbreviations in the guide, so have no idea. Haven't looked at the rest of the silver dollars.... about 20 from all different years.

It's a little late in my life to try to be a collector, so will just wait, 'til another kind person comes along and will go through the few hundred coins and bills.

Also found another box with all kinds of foreign coins, which I'm guessing are not worth anything... Maybe some of the old Canadian coins...

Will take another look through the coins that the collector sealed... maybe something there...

Anyway... thanks for the links to the collector guides.

Next project... go through jeanies' jewelry box... some of those diamond earrings and necklaces may have value. Her diamond ring has three diamonds on it... Hers, her mother's and her mother's mother's. It sits in the box with the other stuff.

Stuff to keep us busy.

 

[ncbill]

Reporting in....
I picked, at random, one of the coins that had been "sealed" in a card, and went to the website to see what it might be worth... Am not ready to go through understanding the rating system so not sure what I'm looking at...

The coin is an 1899 Morgan Silver Dollar, and the guy that looked over the collect about 20 years ago, had marked it as VG. When I first looked it up, the $$$ shown was $24,000... so I knew it wasn't that coin. More likely $46 which made more sense. I just didn't understand the many columns and numbers and abbreviations in the guide, so have no idea. Haven't looked at the rest of the silver dollars.... about 20 from all different years.

You really have to send off the coins to be graded to know what they're worth.

I have one old gold coin whose value comes primarily from it being minted at a certain mint.

Offered ~$3,000 by the coin shop before they sent it off to PCGS...they doubled that offer once it came back slabbed & graded.

It would probably have been graded higher but for my clueless relatives who put it loose in an envelope with other gold coins (none worth more than bullion value) which degraded its condition over the years.

 

[Paracelsus]

My father was a passionate coin collector - he was going to use it for a retirement income as a dealer himself and invested a lot of his money in coins. Unfortunately he died from a heart attack at age 62 - no retirement. My mother had to sell a lot of the coins to dealers who gave her a small percentage of their worth - not fun. I've been given a few coins that I remember my father by - they've lost a lot of their value as he did some sort of cleaning of the coins that has degraded their condition severely in holding them now for 35 years. Sigh. Not a fan of coin collection.

 

[Stonewalker]

My father was a passionate coin collector - he was going to use it for a retirement income as a dealer himself and invested a lot of his money in coins. Unfortunately he died from a heart attack at age 62 - no retirement. My mother had to sell a lot of the coins to dealers who gave her a small percentage of their worth - not fun. I've been given a few coins that I remember my father by - they've lost a lot of their value as he did some sort of cleaning of the coins that has degraded their condition severely in holding them now for 35 years. Sigh. Not a fan of coin collection.

Para, cleaning coins in any manner is a big no-no. I don't collect coins any more, but did for years. I still have my penny collection - one of those old paper folders with slots for the pennies. It brings back nice memories and that's the best thing a hobby can do, isn't it?

 

[Souschef]

Dear Bob,
Without giving you a course in numismatics, The main value of a coin its its rarity..A lot of that depends on where it was minted. The San Francisco mint made much fewer coins than the Philadelphia mint. Normally, a Philadelphia coin does not have a mint mark. The other mints do, however
S for San Francisco
D for Denver
O for new Orleans
CC for Carson City.
The price is also dependent on condition. A worn coin is worth a lot less than one that looked like it just came from the mint.

 

[Car-Guy]

Para, cleaning coins in any manner is a big no-no. I don't collect coins any more, but did for years. I still have my penny collection - one of those old paper folders with slots for the pennies. It brings back nice memories and that's the best thing a hobby can do, isn't it?

That's generally true, EXCEPT, when you have a profession clean it. Both NGC and PCGS offer a conservation/restoration service. (Professional cleaning for a fee) to enhance the eye appeal and "potentially" the value of your coin without damage to the coin. (So they claim).