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As part of my duties as a administrator of parents' estate I have my dad's coin collection in my safe deposit box. There nothing mint, but I know nothing of coins' value. How do I sell this stuff? Website? Auctions? Coin dealers? Thanks.
As part of my duties as a administrator of parents' estate I have my dad's coin collection in my safe deposit box. There nothing mint, but I know nothing of coins' value. How do I sell this stuff? Website? Auctions? Coin dealers? Thanks.
I would say a local, well known coin dealer but it is easy enough to get an idea of a specific coins value on the Internet assuming you have the time to do so.
I found this tidbit rather fast:
1943 Penny
In recent years a “1943 S” (San Francisco Mint) copper coin has gone for about $60,000 dollars at auction. I remember the prices from the P (Philadelphia) mint ranging from around $10,000 many years ago to $73,000 in recent times. There are many counterfeits of this coin.
The easiest way to determine if a 1943 one cent is made of steel, and not copper, is to use a magnet. If it sticks to the magnet, it is not copper and is worth about 50 cents. If it does not stick, the coin might be of copper and should be authenticated by an expert.
Are there any coin shows in your area? I think I would go to one and take a look at some of the dealers and try to get a feel as to their honesty and integrity. Then maybe make a personal appt. with one.
I would say a local, well known coin dealer but it is easy enough to get an idea of a specific coins value on the Internet assuming you have the time to do so.
Quote:
Originally Posted by Ellwood
Find a REPUTABLE coin dealer locally and try to get two opinions.
Quote:
Originally Posted by PhxBarb
Are there any coin shows in your area? I think I would go to one and take a look at some of the dealers and try to get a feel as to their honesty and integrity. Then maybe make a personal appt. with one.
When coin dealers pledge allegiance to the flag, the flag is the Jolly Roger. Someone who does not know coins well is in the same position as a virgin who is dating a convicted sex offender.
See what you have. Read a bit about condition of coins. The best place to sell them is ebay. The coin auctions are very active and you will get what they're worth.
Were I in your position I'd check ebay's completed auctions and see what prices they brought. Then I'd buy them from the estate for that price. If there are no other heirs, just keep them. Their value isn't going to go down.
Were I in your position I'd check ebay's completed auctions and see what prices they brought. Then I'd buy them from the estate for that price. If there are no other heirs, just keep them. Their value isn't going to go down.
Good advice.
Do you have children? Keep them and pass them along in your will. I would not, however, leave them in a safe deposit box depending on the laws in your state. Safe deposit boxes can be subject to some strange laws. Somewhere on City Data is a thread concerning this. If I can find it I'll link to it in another post.
Edit: I give up. The search function for multiple words on CD is pitiful.
If you were close I'd recommend a reputable dealer that was a client of mine for years. Probably the most honest coin dealer I've ever met.
Last edited by Tek_Freek; 11-20-2011 at 12:26 PM..
My late FIL had thousands of coins. No way we were going to tackle that ourselves. We used a trading assistant on Ebay to sell the coins (this trading assistant specialized in coins). My husband and I did the basic sort of the coins into various denominations. The trading assistant came to our house - organized all the coins into about 85 lots - took pictures of them - and put them up for sale on Ebay. All but 4 of the lots sold (and the trading assistant bought those 4 from us). The trading assistant took care of sale completion (sending the coins to the buyers - etc.). The assistant charged us 15% of the gross - plus Ebay and postal fees. We thought it was a great way to handle things. Robyn
My cousin passed away and left a coin and foreign money collection.
We had two different people take it to two different coin dealers in seperate areas of the state for estimates.
We had looked up a couple of the coins online, but didnt search each one in detail, and werent interested in trying to sell them individually anywhere.
They were worth wayyy less than anyone thought they would be, so good luck.
We did get $100 more from one guy than the other.
My friend runs an auction and says that nothing is selling nowadays (for decent money) - not even antiques
Coin people are all thieves. There is no reputable opinion. Learn about it yourself. If you are going to keep them, get them insured. If you are going to sell them, put them in a well attended regionally acclaimed auction. BTW, who says collectible coin prices are down? Cite please.
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