AboutPAPAJACK Expertise Knowledge of United States Coins from 1793 to date. Able to answer most common numismatic questions. Collected U.S. Coins from half cent to 50 dollar gold coins.
Experience QUALITY CONTROL
United States Coin COLLECTOR/DEALER OVER 20 YEARS, U.S. COINS Worked trade shows,
EXPERT Consulting since 1990, Knowledge of all methods of fabrication used in the industry. Hobbies:US notes, clocks, cars, computers, coins, leisure activity and crafts to name a few.
Question QUESTION: I have inherited alot of coins and paper money and would like to have them appraised.
Please any tips is appreciated
thank you
ANSWER: Hello Susy,
This can be daunting task if there are many coins of different types. And then there is the grading of the coin that decides the value, this too can be tedious. However it can be a rewarding experience and educational as well if you wish to try your hand at it.
Each collection of coins has to be seen to get a proper evaluation. Each coin can range greatly in value depending on its condition. If the coins are put into sets from circulation over years of collecting the price you realize is not that high as opposed to a collection being put together in MINT STATE condition with all high grade coins. A dealer would usually pick any high grade and rare coins, pay the value for them, take specific coins out of the collection and then sell the rest in the lot or mix them into his low priced stock.
I can give you a start in the valuation of the coins by helping you organize them. You should know what you have before trying to sell them. Try to get your hands on a copy of the RED BOOK titled - A GUIDE BOOK of UNITED STATES COINS - by R. S. Yeoman They are issued each year. It is all you need for most U.S. coins. Along with a good magnifier and light source.
So read on and let me try to help you without you having to go crazy on the finer points of appraising. Feel free to ask me for more information on any one type of coin at a time for details.
You will need to separate your coins into a few groups:
All Gold Coins if any.
Any Silver Dollars : 1878-1935
The pre 1878 would be valuable, from 1878 to 1921 are Morgan type, 1921 to 1935 are Peace type dollars, 1970 to 1978 are Eisenhower then 1979 to present.
All 90% Silver Coins:
Take all half dollars, quarters, and dimes made in 1964 and before. (half Dollars made from 1965 to 1970 fall into a special group).
Cents and Nickels just into groups by date. There are Key dates to look for in these series as well but I suggest you borrow a copy of the Red Book for this purpose.
Concentrate on each series (Dollar, Cent, Dime etc.) after separating them. This will help you spot a coin that is out of the ordinary or has great eye appeal.
This sorting will speed up the process of grading the coins by each type. Or if you are selling, it breaks down the value for the dealer buying or for the sale on the Secondary-Market.
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 another collector look at them, and even most coin shops will help for free.
If you do want to try grading the collection fee free to write me again as needed.
For example 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.
The grading details it describes at the start of each coin series is taken from the American Numismatic Association Standard. First look for a mint mark letter they were made at three mints. Philadelphia has no mint mark but the New Orleans and San Francisco Minted coins show a mint mark below the eagle (above and between the letters "D" and "O" in the word DOLLAR). A CC mint mark is a collectable in any grade.
IMPORTANT: Let me also note that you should never clean your coins. This removes the surface protection and cuts the value from 40% to 90% !
Here's an excerpt of the grading guideline for a Morgan dollar Coin:
GOOD or Grade 4 :
Letters and date clear no feathers on reverse but no wear to the outside rim from letters.
VERY GOOD or Grade 8:
Normal wear, flat looking, very little sharpness remains but all major details visible.
FINE or Grade 12:
All details strong and definition remains on some high areas of the coin.
VERY FINE or Grade 20:
Two thirds of hairlines show. Ear is well defined. Feathers on eagles breast worn.
EXTREMELY FINE or Grade 40:
All hairlines are strong. Only slight wear on eagles breast and wing tips. Some Original Mint Luster shows.
MINT STATE Grades 60 TO 70 :
STRICTLY NEVER CIRCULATED. NO TRACE OF WEAR. Nice luster on coin.
The Morgan Type silver dollars are 90% silver. This makes the value of an extremely worn coin still worth 8 or 9 times it's face value just due to the precious metal content. Depending on the state of preservation (or Grade) and the Mint Mark (if any) they can vary greatly in value. Most common issue dates in circulated condition are plentiful.
Another thing is to try, at larger coin shows, there are authenticators and dealers willing to give their opinion at the table for free.
If you don't have coins shows in your area or need to find a trustworthy dealer I will try to help. If you can give me the nearest large Cities, some postal zip codes and telephone area codes. I will refer you to an expert in your area.
I hope this information helps. Please remember to rate this answer. And check the nomination box on the rating page below any comments you may have.
Good Luck
PapaJack
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QUESTION: WOW THANK YOU FOR ALL YOUR INFO AND TIME HERE
I LIVE IN MIAMI, FLA 33135
SHOULD I BRING ALL MY COINS TO A DEALER OR SHOULD I HAVE SOMEONE COME TO MY HOUSE TO EVALUATE THEM.
ANSWER: Hello Again Susy,
If you know the collection is very valuable you can have the dealer come to meet with you from almost anywhere.
Call a dealer from the list and tell them what you have they will clue you in on its value.
Or you can contact a few to see if they make house calls. they are AMERICAN NUMISMATIC ASSOCIATION MEMBER/DEALER near there. They are ethical and trustworthy.
Gables Coin and Stamp Shop Inc
John C Albright
322 Miracle Mile
Coral Gables , FL 33134
Phone: (305) 445-7561
Specialties* Ancient coins, Appraisals and Buying Coins
Full time dealer since: 1966 , Dealer does retail sales
E-mail: gablescoin@gablescoin.com
Smith & Daughter Inc.
Arthur J Smith
1438 Brickell Ave
Miami , FL 33131-3406
Specialties* Appraisals, Gold World, Latin America
Full time dealer since: 1957 does retail sales
Here are a few a bit further away from you
David W Akers Inc
PO Box 530836
Miami Shores , FL 33153
Phone: (305) 895-2632
Fax: 772-223-1964
Specialties* Gold U.S., Gold Rare-Dated U.S. coins
Full time dealer since: 1987
Michael Finest World Treasure
Lu Leissering
Dealer Information
PO Box 112407
Miami , FL 33111
Phone: (305) 856-8831
Specialties* World Coins
Part time dealer since: 1984 does retail sales
E-mail: michaeleuropeinc@aol.com
Sergio Sanchez Rare Coins & Etc
Sergio Sanchez, Jr.
PO Box 44-2809
Miami , FL 33144-2809
Phone: (305) 567-1515
Specialties* Gold Rare-Dated U.S., Paper Money U.S., U.S.
Full time dealer
E-mail: sergio@sanchezcurrency.com
Website: http://www.sanchezcurrency.com
I hope this information helps. Please remember to rate this answer. And check the nomination box on the rating page below any comments you may have.
Good Luck
PapaJack
---------- FOLLOW-UP ----------
QUESTION: PLEASE REMEMBER TO PROVIDE ME WITH THE COIN DEALERS YOU SAID YOU KNEW HERE IN FLORIDA, MY ZIP CODE IS 33135
Answer Hello Again Susy,
If you know the collection is very valuable you can have the dealer come to meet with you.
These are the nearest dealers I found for you that are association members.
I saw you wrote MIAMI, FLA 33135 and there were no members in your immediate area so I included the surrounding neighborhoods.
Coral Gables, Zip code 33134 and Miami, with zip code 33131 were the closest on the map I used but the next three were not that far. Miami Shores, 33153, Miami, 33111 and Miami, 33144.
If you like I can search more with more information from you about your address and how far you can travel.
It would take me awhile to find a dealer to travel to your home. I am sure one of the names I have sent again in this message will have a better referral for you.
Call a dealer from the list and tell them what you have they will clue you in on its value.
Or you can contact a few to see if they make house calls. they are AMERICAN NUMISMATIC ASSOCIATION MEMBER/DEALER near there. They are ethical and trustworthy.
Gables Coin and Stamp Shop Inc
John C Albright
322 Miracle Mile
Coral Gables , FL 33134
Phone: (305) 445-7561
Specialties* Ancient coins, Appraisals and Buying Coins
Full time dealer since: 1966 , Dealer does retail sales
E-mail: gablescoin@gablescoin.com
Smith & Daughter Inc.
Arthur J Smith
1438 Brickell Ave
Miami , FL 33131-3406
Specialties* Appraisals, Gold World, Latin America
Full time dealer since: 1957 does retail sales
Here are a few a bit further away from you
David W Akers Inc
PO Box 530836
Miami Shores , FL 33153
Phone: (305) 895-2632
Specialties* Gold U.S., Gold Rare-Dated U.S. coins
Full time dealer since: 1987
Michael Finest World Treasure
Lu Leissering
PO Box 112407
Miami , FL 33111
Phone: (305) 856-8831
Specialties* World Coins
Part time dealer since: 1984 does retail sales
E-mail: michaeleuropeinc@aol.com
Sergio Sanchez Rare Coins & Etc
PO Box 44-2809
Miami , FL 33144-2809
Phone: (305) 567-1515
Specialties* Gold Rare-Dated U.S., Paper Money U.S., U.S.
Full time dealer
E-mail: sergio@sanchezcurrency.com
Website: http://www.sanchezcurrency.com
I hope this information helps. Please remember to rate this answer. And check the nomination box on the rating page below any comments you may have.
