Expert: Joe Hylas - 1/23/2008

Question
We inherited a coin collection.  Where do we find out values for the coins and what's a good direction for someone interested in continuing this hobby.  We seem to be overloaded by what we read on the internet.  Any suggestions?

Answer
Hello Collin & Robert,
The first thing I would do is pick up a copy of the Guidebook to US Coins.  Although the market changes and the values may not be 100% accurate, this book will tell you which are the rarest of the coins and which are not.
Key date coins always rise in value so when you see a coin listed in the book for much higher than the other coins in the series, you will know that it is the key date in that series.
It will also show you how to grade the coins for quality.  The grade is important in determing the value.  You must know this to be a successful collector/investor.
Reda, Read, Read.  The key here is to buy the book before you buy the coins.  Too many beginners make unnecessary mistakes simply because they didn't take the time to know what they were doing before jumping in.
Be systematical.  Have a goal as to what you want to collect/invest in.  Last bit of advise is that once you determine what you have, only save the very best coins, liquidate the rest, and put that money into high quality pieces that are PCGS, NGC or ANACS certified.  These are the 3 best certification companies, stay away from the others.
Good Luck
Joe Hylas