Coins

[Papi]

Anybody know anything about coins? They aren't all that "old" because some are my age but we don't know what they're worth. They're about the only thing my wife will ever inherit, so we don't want to just cash 'em in and get a pittance, but we also know they're not gold either. But they do have a high concentration of silver and that's why we know they're worth more than face value.

Mostly, it's just regular old US currency (coins) 1964 all the way back to the late 1800s. Quarters, dimes, pennies, etc. Except for the steel penny; I know they are only really worth novelty value, the rest are in circulated shape.

Where could we get an honest appraisal? don't want to just toss them on feeBay.

[CliffinGA]

Hey neighbor just check on either the web for coin values or coin bvlue book, I found a bunch of sites that offered it for sale and on ebay. You can also check for coin appraisals in Atlanta, I know every year there is a show that comes in town for coins and cards that you can wait to take them too also.

Cliff

[Darren]

This site gives the silver value per coin but nothing for the collector value.

http://coinflation.com/

[Blotto Bros]

Silver and gold are what I do for a living. Coinflation is good but can be misleading. For example Eisenhower dollars have NO silver in them UNLESS they are part of a mint set! Send me a list of what you have by pm and I will get you in the ballpark of silver value and let you know which coins require further examination.

To keep work and friendship separate I will not be interested in purchasing any of your coins, just in giving you enough knowledge to NOT get taken.

[Papi]

Thanks!

[Blotto Bros]

A few tips:

In the current market a "quick and dirty" silver value can be achieved by adding up the dollar value of your 1964 and older silver coins and multiplying by 28.

Ie: $1,000 in coins would net $28,000 in silver value.

Nickels are nickel UNLESS they have a mint mark above the dome of the Capitol on the back side. These are war years 42-45 and are 35% silver.

1965-1970 Kennedy half dollars are "clads" and contain 40% silver.

Coin silver is generally 90% silver, while sterling is 92.5% silver which results in the common stamping of 925.

The real treasure in most estates is the flatware set not the coins. A sterling flatware set right now has a scrap value of between $1,500 and $6,500 dollars! That's SCRAP value...more if it has not been monogrammed and is a desirable pattern.

All precious metal is weighed in OZT or Troy ounces. This contains 31.103 grams or 20 pennyweights. Your scale should be set to the mode of "G" for grams or "DWT" for pennyweight.

DO NOT answer craigslist ads that say "We Buy Gold/Silver". These folks are a danger to you and your family! Think about it...let's invite a stranger to our home and tell them ahead of time we have valuables here. They will sometimes ask to meet in public....now your telling a stranger you will be somewhere with all your valuables and or cash from the sale of your valuables.

[Papi]

I saw one place that asks you tp mail the coins to them, along with an "appraisal fee". Does that seem legit?

[Blotto Bros]

It's the same places that want you to mail in gold. They are legit if your expectations are to receive 50% of the value of your coins and are willing to risk losing them in the mail.

Read the very fine print on those gold/silver bags....most say they are insured for only $100 in value!

If you don't take their lowball offer they will also require you to pay a return shipping and handling fee.

Short answer are they legit...yes. Is it smart money to use them....NO.

Coin dealers will be your best bet, next gold/silver dealer in a real building...not the trunk of their car.

Expect to sell your coins for 75-90% of silver value for the common coins and 100-?% for anything rare.

[Blotto Bros]

There are some very legit coin grading services that work by mail. Sending them common American currency is a waste of money...but if you have rare dates/minting they may increase the market for those coins.

[mikeschn]

All I know about coins is that you are going to want to have some under the mattress. Nuf said!

Mike...

[sagebrush]

All I know about coins is that you are going to want to have some under the mattress. Nuf said!

Mike...

What he said!
Both of the local coin shops here use these people for pricing.

http://www.apmex.com/

A friend buys from occasionally and endorses them.
Will