njf520 Posted May 10, 2010 Report Share Posted May 10, 2010 My grandfather died about 2 weeks ago. He was 95 and had been a hobbyist coin collector for the last 25 years or so. Nobody in our family collects coins so we have no "experts" in the family to help appraise the collection. Here is what I know: 1) He was not buying very expensive coins. By that I mean, he may have bought coins that cost $20-$50 each but he was not looking for nor buying coins that were $1000 each. 2) We *estimate* that the face value of the coins is about $5000 total (if you just added up all the pennies, nickles, etc. at face value.) No idea what they are worth otherwise. How do we best get an estimate for this collection? How much should we expect to pay someone to appraise a collection like this? I was somewhat apprehensive to walk the collection into the local coin shop and ask for an estimate because I wasn't sure how accurate this sort of estimate would be. I was reminded of the phrase used in poker - "If you look around the table and don't know who the sucker is, you're the sucker." Thanks in advance! Nick Link to comment Share on other sites More sharing options...
bill Posted May 10, 2010 Report Share Posted May 10, 2010 I'm not sure where you live (big city, rural town, etc.). If you have a local coin club, you could start there to learn a little of the lay of the land. Many, probably most dealers are honest otherwise they would have a difficult time staying in business. ANA membership is one thing I would look for for a small dealer, probably the type most interested in your coins. The Better Business Bureau would be another place to check for complaints. You could always post some business names here to see if anyone has heard of the dealers. Link to comment Share on other sites More sharing options...
njf520 Posted May 10, 2010 Author Report Share Posted May 10, 2010 I live in San Francisco but the collection (and the people who would do the leg work of getting it appraised) are in the Ann Arbor, Michigan area. Thanks for the info. I'm not sure where you live (big city, rural town, etc.). If you have a local coin club, you could start there to learn a little of the lay of the land. Many, probably most dealers are honest otherwise they would have a difficult time staying in business. ANA membership is one thing I would look for for a small dealer, probably the type most interested in your coins. The Better Business Bureau would be another place to check for complaints. You could always post some business names here to see if anyone has heard of the dealers. Link to comment Share on other sites More sharing options...
Mark Stilson Posted May 11, 2010 Report Share Posted May 11, 2010 What Bill said. Plus even though he may have bought them at $20-50 that price 25 years ago according to what he got may be worth a decent amount now. I would also suggest if they can find a local coin club some have auctions. Might turn up more then a dealer. If they go to a dealer try to get more then 1 or 2 offers. Also according to how much time you want to invest you could buy a red book (Small investment considering the total worth.) split them up by denomination and year. You should be able to at least see if some have potential. Link to comment Share on other sites More sharing options...
bill Posted May 11, 2010 Report Share Posted May 11, 2010 Go to money.org, the web site for the American Numismatic Association. You don't have to be a member. On the home page, you will find a link to find a dealer. Click on the link, follow it to Michigan, and then Ann Arbor. The listing shows three dealers. The first appears to be an ancients dealer, but he could have a wider stock. The second two do handle American coins. The web site of the middle one shows they do handle coins of the type you likely have, but I would contact both to be sure and determine whether they can help you. You can also try one of the other towns that might be near by. Good luck and you can always ask questions here is you are uncertain about what you might hear from a dealer. Link to comment Share on other sites More sharing options...
njf520 Posted May 11, 2010 Author Report Share Posted May 11, 2010 Go to money.org, the web site for the American Numismatic Association. You don't have to be a member. On the home page, you will find a link to find a dealer. Click on the link, follow it to Michigan, and then Ann Arbor. The listing shows three dealers. The first appears to be an ancients dealer, but he could have a wider stock. The second two do handle American coins. The web site of the middle one shows they do handle coins of the type you likely have, but I would contact both to be sure and determine whether they can help you. You can also try one of the other towns that might be near by. Good luck and you can always ask questions here is you are uncertain about what you might hear from a dealer. thank you very much for the info. very helpful. Link to comment Share on other sites More sharing options...
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