Expert: PAPAJACK - 7/25/2007

Question
I have an extensive collection (not cataloged) from an estate.  What is the safest way to get the collection valued.  Also, the collection is to be divided up as part of the distribution, would the collection be worth more as a single complete collection, or if it's split would there be little impact on the value, ie. is the whole worth greater than the sum of the parts?
For reference there are about 200+ lbs of coins.

Answer
Hello Richard,                      

Thanks for selecting me for your answer. Sorry for its length but this is an involved question. It would help to let me know what series and dates you may have and if they are foreign or only USA coins. For example if none are older than say 1925 or all coins are proof sets etc…

Nobody throws away money. It seems to continue to change hands and be stored away. Although you might not realize it there are many, many old coins still around and even more modern coin collections like the coins you use today, both in proof and Uncirculated grades.

Collectors have devised a numerical grading system for coins. It goes from 1 to 70. With 1 being barely identifiable as a coin and 70 being perfect. Coins taken from circulation usually fall between grade VG-8 (Very Good) and grade AU-50 (Almost Uncirculated).  

As for a rough price range and since Coins are valued on a scale from 1 to 70 depending on eye appeal and any damage to the coins (like having been cleaned, nicked, dented scratched etc.) it is easier to separate your coins into groups and further separate them into types and grades to get a value.  

No one is going to properly sort through 200 pounds of coins for free so you should tackle it in your spare time to start knowing what you have.

U.S. Dollars
1971 to 1978 Eisenhower Dollars - Made at 3 mints some S mint marks have silver most are copper and nickel.

1921 to 1935 Peace Dollars All 90% silver Made at 3 Mints

1878 to 1921 Morgan Dollars all 905 silver made at 5 mints

1873 to 1885 Trade dollars 90% silver made at 3 mints

1840 to 1873 Seated Liberty Dollars 90% silver made at 4 mints.

The Anthony dollars sell at face value up to $1.50 for most circulated coins. This is true also for the all dollars since 1999. Only Mint State, Proof or type coins sell higher. So if they were ever circulated just hang on to them till someone can look at them in person.

U.S. Half Dollars
Kennedy Halves were only 90% silver in 1964. And 40% silver in 1965 to 1970. These dates are still available in Mint State for a reasonable price to collectors.  But in circulated grades below 35 sell for silver content for these years.

U.S. Quarters before 1965 are 90% silver and are big collectable in high grade.

U.S. Dimes
The Roosevelt dimes before 1965 are 90% silver and hold some numismatic value as well so even if it was very worn they sell for at least a dollar.

The Mercury dimes also sell for $1 in worn out condition and as much as 10 for common dates the most valuable ones to look for are the 1921 coins and 1916 D coin.
If you can, try grading the Winged Liberty Dimes from these descriptions below. For the more common date and Mint marks even in the worst condition (grade 1) the coin is worth about .90 cents (for its silver content alone). The common dates will be valued from $1 to $3 depending on condition. They must not have problems like dents, bends or having been cleaned.

To get a feel for what might be in store for you look for a few mercury dimes in your collection. Here's a quick wear/Grading guideline to use for Winged Liberty Head dimes made from 1916 to 1945:

GOOD or Grade 4:
Letters and date clear no lines or bands on reverse faces.

VERY GOOD or Grade 8:
Half the sticks in the faces can be seen.

FINE or Grade 12:
All sticks in faces are defined. Diagonal bands are nearly flat.

VERY FINE or Grade 20:   
Both crossing diagonal bands must show.

EXTREMELY FINE or Grade 40:  
Bands show only slight wear. Braids and hair before ear show clearly.

MINT STATE Grades 60 TO 70:
These coins are STRICTLY NEVER CIRCULATED.  NO TRACE OF WEAR. Nice luster on coin.

Good condition about .90 cents to $1.45 dollar,
Fine condition about $1.50 to $2.00 dollars, since most fit in this grade they are more common.
Extremely Fine condition $5.00 and in
Almost Uncirculated condition sells for $7.00 or more.

If the coin is Uncirculated or has very little wear there would be a demand for it and the price can vary greatly.

The Nickels would need to be separated as well the Indian Head ones are hot in the marketplace and values are all over the place From 1 to 7 bucks for grade 8 coins dated prior to 1927.

And of course the One Cent Coin the  Lincoln Memorial and Wheat back and Indian Head cents.

There are others like a 2 cent, 3 cent (both silver and nickel) and Twenty Cent coins but this is a very general question and I do not want to confuse you with information you may not need.

Learning to estimate the grade of the coins and noting any cleaning or mishandling is the key to finding the value. See if you can borrow or use at your library a copy of the book titled "A Guide Book of U. S. Coins" by R.S. Yeoman, has pictures showing the difference.

Please feel free to write me again for more information! Let me know a single type you are going through and I can fill in the blanks left here. There are a great number of varieties and even some errors to look for in each type of coin. It can impact the value immensely.

Distributing the coins separately does not decrease their value. But there are buyers that will bay more for complete sets where all the coins are high grade.

Please remember to rate this answer. And check the nomination box on the rating page below any comments you may have.

Thank You and Good Luck

PapaJack