Expert: PAPAJACK - 12/29/2006

Question
Enjoyed reading answer about the silver coins. I too have many coins I would like to have appraised. Can you give me a reference in the Dallas, Texas area? I am sure yellow pages has some, but how do I know they are reputable. I much prefer a recomendation.

Answer
Hello Bonnie,

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. It is all you need for most of these coins.  Along with a good magnifier and light source.

Learning to estimate the grade of the coins and noting any cleaning or mishandling is the key to finding the value. The Guide Book has pictures showing the difference. Another way is if you can get to a Coin Show in your area I'm sure that you will find your coin types are readily available for examination.
This grading and rarity is what sets a value on your coin. There is data that compares coin values to other investments that shows they do go up in value the longer you keep them. I cant think of any pre-1940 coin that has gone down. So keeping them may be an option. Of course the market is high right now and seeing unprecedented prices for many coins. But there are drawbacks, for an example Gold is over $600 and dealers are selling but not buying, rather they are waiting for the price to go down again.       

Before going to sell the coins you have an idea of the value and what you would accept for them. Just making an inventory of what you have is a good idea.
Many dealers will make a trip to see you if the collection is truly worth a lot. You should be prepared to sell them If you have a dealer make the trip to you to see them.

If you do decide to sell all or part of them here are some ANA Member Dealers near you.

Alamo Coins
14001 Goldmark Dr #130
Dallas , TX 75240
Phone: (214) 234-2971
Specialties* Buying Coins, Gold U.S., U.S. Type  


Dallas Rare Coins
5211 Forest Ln #101
Dallas , TX 75244
Phone: (972) 458-1617
Specialties* Ancients, U.S.


Don Willis Rare Coins
13101 Preston Rd Ste 110
Dallas , TX 75240
Phone: (972) 788-5225
Specialties* Gold U.S., Paper Money, U.S. Type   


James L Halperin or Steve Ivy
Heritage Numismatic Auctions
3500 Maple Ave 17th Floor
Dallas , TX 75219-3906
Phone: (800) 872-6467
Specialties* Appraisals, Buying Coins, Gold U.S., U.S. Type  


Mike Follett Rare Coin Co Inc
13101 Preston Rd Ste 110
Dallas , TX 75240
Phone: (800) 527-0002
Specialties* No information is provided.  Full time dealer


Southwest Numismatic Corp
6116 N Central Expy Ste 921
Dallas , TX 75206
Phone: (214) 823-9202
Specialties* Paper Money Obsolete, Paper Money U.S.  

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Thank You and Good Luck

PapaJack