Expert: PAPAJACK - 10/26/2008

Question
PapaJack,
Just read your post as my mom and I are searching for a few answers on my Dads coin collection. My Dad has coins from the early 1800's to 1960's. He has several CC's, D's and S's (not sure what the D's and S's stand for) and from markings from whomever my Dad bought these from - they've marked them as AU and VF. We live in Mesquite Texas, zip 75150. We're looking to sell his rather extensive collection. Can you point us in the right direction?
Thank you kindly,
Michelle Barrera

Answer
Hello Michelle,              

You did not say how large this collection is or what types of coins it contains. You will get better pricing selling the type of coin to that type of collector. Like a Morgan Dollar to a US Silver Dollar Dealer, a Bust Half Dollar to a Half Dollar collector etc.. I will start by giving you the basic information you asked for in this question.
Also it is important not to clean the coins or miss-handle them.
Please feel free to write me again for more help I do not mind.

You can get a better start in the valuation of the coins by helping you organize them. You should know what you have before trying to sell them. See if you can borrow or buy a copy of "A Guide Book of UNITED STATES COINS" (Red Book) by R. S. YEOMAN. This will guide you through the critical information you need to begin evaluating a US Coin collection, the pricing in them is not accurate but can be used to sort out the more valuable coins. The book is released each year and sells new for less than $10, a used one is fine or even your library will have one.
It is all you need for most of these coins your dad likely had one.  Along with a good magnifier and light source try looking at some coins. Separate one you think is valuable and write me back.

The USA operated different mint facilities in the country.
The CC, D and S are “Mint Mark” Letters showing what mint made the particular coin you are looking at. They stand for Carson City in Nevada, Denver Colorado and San Francisco California. The Philadelphia mint did not use a mint mark and there are a few other mints as well with the New Orleans Mint using an O for the mint mark was the next popular. These are identifying an individual coin.

Then there is a grade. This is either Numerical from 1 to 70 on the scale or Descriptive and many times has both.  It is decided by the state of preservation of the coin.
G is for Good and grades from 4 to 7 on the coin grading scale
VG is for Very Good and grades from 8 to 12
F is for Fine and Grades at least 12
VF is Very Fine and Grades at least 20
EF is Extremely Fine and grades from 40 to 50
AU is for Almost Uncirculated and grades from 50 to 59 on the grading scale.
Mint State coins are the most valuable in each type of coin and were marked BU for Brilliant Uncirculated or Gem or Choice in the old days but all must be in the original Uncirculated, Mint State and are assigned a MS grade from 60 to 70 presently.

This is a daunting task if there are so many coins of different types and then the grading that decides the value can be tedious. However it can be a rewarding, therapeutic experience and educational as well.

Each coin has to be seen to get a proper evaluation. Each coin can range greatly in value depending on grade condition. If the coins are put into sets from circulation over years of collecting the prices realized are not that high. A dealer would usually pick any high grade and rare coins out and sell the rest in the album or mix them into his low priced stock.

As requested here are a few dealers near you;
Advision
315 N Greenville Ave
Richardson , TX 75081-6011
Phone: (972) 644-8040
Specialties Ancients, Large Cents
E-mail: dlisot@cointelevision.com

MIKE FOLLETT RARE COIN CO INC
13101 Preston Rd Ste 110
Dallas, TX 75240
800-527-0002

Heritage Auction Galleries (HA.com)
3500 Maple Ave 17th Floor
Dallas, TX 75219-3906
Phone: (800) 872-6467
Specialties Appraisals, Buying Coins
E-mail: Money@HeritageAuctions.com
Website: http://www.HA.com/Coins  

South Park Coins
PO Box 989
Forney, TX 75126-0989
Phone: (972) 564-6995
Specialties Buying Coins, U.S.
* Part time dealer
E-mail: service@southparkcoins.com

SOUTHWEST NUMISMATIC CORP
6301 Gaston Ave, Ste 650
Dallas, TX 75214
214-823-9202 Fax: 214-823-1923

DON WILLIS RARE COINS
13101 Preston Rd Ste 110
Dallas, TX 75240
972-788-5225

Thank You and Good Luck

PapaJack