Expert: PAPAJACK - 1/6/2008

Question
My grandfather left me about 70 silver dollars after his passing.  I have both extremely good quality ones from about 1868 to 1925.  Some are worn, but many of the older ones are in better shape.  What sort of approximate value do these coins have.  Any help would be appreciated.  Would the value increase if I save them and pass them onto my son?  Lisa

Answer
Hello Lisa,                            

Without seeing the collection I cannot say.

Coins are valued on a scale from 1 to 70. And on how rare a coin is. With no or little experience it is sometimes easier letting a collector look at them, and even most coin shops will help.
 
In each series of coin type like "Morgan Dollars" there are some quick reference points of wear to be seen on the high points that are known to show wear first. Most of these are covered in the RED BOOK titled - A GUIDE BOOK of UNITED STATES COINS - by R. S. Yeoman.  The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. And uses the 1 to 70 scale recognized by all professionals since the 1970's.
If you can borrow a copy it will help.

Most circulated coins range from Good (grade-G4) to Almost Uncirculated (grade-AU50) on the scale.

This one book from any year and a current price guide will let you find the approximate value of your collection.

And I do think the collection does go up in value, older coins in collectable condition have performed well at resale. Even if the coin collection is not complete as long as the coins do not get damaged the selling price does increase.

I hope this information is helpful.

Feel free to ask another question about US Coins.

Good Luck

PapaJack