Expert: Joe Hylas - 11/25/2004

Question
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Followup To
Question - DEAR MR. HYLAS, I HOPE I AM DOING THIS FOLLOW UP PART CORRECTLY. IT SEEMS I AM TO TYPE MY NEXT QUESTION ABOVE THE FIRST. I AM A LITTLE PUZZLED BY YOUR ANSWER BECAUSE I HAVE A COIN BOOK THAT LIST CERTAIN COINS AS BEING VALUABLE EVEN THOUGH THEY MAY BE DATED IN THE 70'S AND 80'S. AND THERE ARE SOME THAT HAVE ERRORS OR ODDITIES THAT ARE LISTED AS BEING WORTH SEVERAL HUNDRED DOLLARS. COULD YOU EXPLAIN A LITTLE TO ME ABOUT THAT?
THANK YOU AGAIN,AND YES I'LL BE HAPPY TO NOMINATE YOU AS SOON AS I FIGURE OUT HOW TO DO IT.
Dear Mr. Hylas,
I know very little about coins. I just recently became interested when my husband lost his job and I realised that I had about $300.00 in loose change saved up which contained a lot of old coins,silver dollars, state coins, Kennedy halfs and such. we need the money very badly right now, so I must either use them or sell them.
Could you please tell me if there is a market for these coins which(although in great condition) are not proofs? And if there is, how do I go about selling them as quickly as possible?
Your help will be greatly appreciated and I will be happy to nominate you for expert of the month.

         Thank You,
         Dolores
         dlrev7@aol.com

Answer -
Hello Delores,

Dimes, Quarters and Half Dollars dated 1964 or before are 90% silver and as such are worth about 4.5 times their face value.
Example:  1 silver dime is worth 45 cents

Half Dollars dated from 1965 to 1970 are 40% silver and worth about 65 cents each

Statehood quarters are only worth a quarter, Eisenhower dollars are worth a dollar.

If you have any more questions, email me directly at JoeHylas@aol.com
As for seling them, the quickest way ti to visit a local coin dealer listed in the phone book.  Armed with this information, you won't be taken advantage of.

Good luck!

Joe Hylas

Answer
Hello Doloris,

Tes, there are certain coins that are worth more if they meet certain criteria.  If you can identify coins that are double dies, (Stamped twice), and errors or meet the grade for the coin listed, they are worth more.

But bear in mind that the coin books that list values are only a guideline.  They tell you which coins are worth more than others but not necessarily they true value.  They also list the RETAIL prices, not what a dealer would pay you.

It is quite common in coins, as with other items, to be able to purchase them at a discount to retail prices.  Unfortunately, there is no easy answer.  To maximize the return on what you have you would have to, in essence, become a dealer.  Whereby you would have to know how to grade the coins, and also identify the errors.

The info I gave you is the rule of thumb, there are always exceptions to all rules.

Regards,
Joe Hylas