“Some Value or No Value”

Discussion in 'Hobby/Travel Forum' started by 4ever4Jesus, Feb 2, 2011.

  1. 4ever4Jesus

    4ever4Jesus
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    We got a collection of coins from her Mom that she left behind. We have found various dollar coins, wheat pennies, Bicentennial Quarters. Does anyone know the value of coins or what place to recommend asking? We want to see me and my girlfriend if these coins are worth anything. If they are not we’re just going to cash them in at the bank. This is not our Hobby. We are just looking for a reliable place on the pricing of coins. Don’t want to run into the gimmicks. Thanks for whoever can help.
    Your friend RJ
     
  2. Arbo

    Arbo
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    A good place to check out might be ebay to give you an idea of individual values. There are also guides that will give ballpark values.

    I would suggest that you don't cash them in at the bank until you know what you have!

    Remember that values can be highly subjective. Bottom line is that the value is determined by the buyer. That's why I recommend ebay or something similar.
     
  3. Thousand Hills

    Thousand Hills
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    I agree with Arbo, check ebay. If the collection is large and diverse it might be wise to pick up a reference guide at a bookstore, check out the Red Book of Coins, the values they list will probably be higher than what you can get, but it will at least give you an idea of what you have. The value of most old coins depends on rarity and condition (circulated or uncirculated?). If its not rare and not in a high grade, its probably worth more for the silver content (if any), otherwise just turn them in to the bank. Here is a website with current silver values for old US coins. http://www.coinflation.com/silver_coin_values.html

    If you do find that you have coins with any value, be careful if you take them to a coin/jewlery shop. They will probably offer you considerably less than what they are worth, so if your willing to put up with the headache that is Ebay (fees,fees,fees) it might be best to sell them there.
     
  4. rbell

    rbell
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    Bicentennial stuff--not so much. Unless its uncirculated (absolutely pristine condition--no markings) or proof (in a case with a mirror-like finish). Proofs are worth a bunch. Uncirculated are worth more than face value...though not a great deal.

    Wheat pennies? Everything depends on the year and the mint mark. (for wheat cents (minted 1909-1958) look on the front. The year is obvious. Underneath that, there could be a very small mark: A "D" (denver mint) or an "S" (San Francisco mint). No mark is called a "P" (as in, minted in Philadelphia). Each year and mint vary widely. A certain year may be rare (and thus valuable) for an "S" mark, while not at all for a "P." It may be worth 10 cents (or so) for something mid-1950's, high number of coins minted. A very select few rare coins, or much older coins in absolute mint condition, may be worth more--most aren't. But they're definitely worth either keeping or selling (NOT for lunch money).

    I own a few rare ones...some worth 50-75 dollars. Most, much less.

    Now...the 1943 pennies should be made of steel. THey're pretty desired by collectors...but not usually worth much unless the condition is outstanding. If you have a 1943 that's bronze...I want it. There's like 10 or so known, and they're worth big six figures or more. (caveat: Several counterfeit 1943's have been made/altered. I don't want those).

    Used to mess around with coins a lot. Useless knowledge in my head finally came out.

    No market for Dollar coins unless you're talking Eisenhower (slight interest...maybe slightly more than face value). But before that, you go back to the Peace Dollars and Morgan Dollars of the 1880's-1930's...there's a nice market for those. Once again...the difference in $$ is in condition and scarcity. But even a poor condition dollar coin (pre-1964, which means it's 90% silver) is worth several times face value.

    You want to spend the $15-20 (probably less on ebay), you can buy a "Red Book." This is pretty much considered the standard for evaluating coin values.

    Worth it, IMO: AMAZON Search for "red book of US Coins"
     
  5. Thousand Hills

    Thousand Hills
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    rbell, have a small coin collection myself, but was always more interested in old paper money. Have a few large size notes, fractionals, and early silver certs, mostly common stuff. Did you ever get into paper money much?
     
  6. rbell

    rbell
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    No, but the reasons aren't really deep: One, I was young and you could buy a few coins cheaper than paper money. Two, coins were simply more prevalent around my neck of the woods (Pre-eBay/craigslist, of course)...it's what I knew.

    Not to mention a kiddo has to actually "play" with his collection. Coins are more forgiving than paper currency.
     

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