Coin Collectors

[StoopTroup]

My FIL just gave us these three pennies.

2 - 1901 and 1 - 1905 Indian Wheat Pennies

Wonder what a rough estimate of value is?

Are they worth having graded. They are definitely circulated. The wife said..."They look like they could clean up!". I told her not to touch them unless she had an expert look at them.

I'm guessing I'm at least right about leaving them alone. I figure they are at least worth a buck and EBAY had some really nice graded ones like this for $192.00.

http://cgi.ebay.com/1901-INDIAN-HEAD-CENT-ICG-MS65RB-GEM-BU-GSS-/320567360079?pt=Coins_US_Individual&hash=item4aa34dba4f

Any help is appreciated

Here they are....

http://i30.photobucket.com/albums/c333/stooptroup/56adc5e6.jpg

[Curly Bill]

NEVER clean old coins!!!

1901-1905 wheat pennies are not worth much. I'm looking in "the redbook", which is the main guide coin peeps use, and Good versions go $3, Almost Uncirculated for $20, and Mint State 63's for $55.

Without having seen the coins I doubt they'd be worth getting graded. (pic wasn't there when I first replied :D )

[Curly Bill]

BTW: coins on Ebay are typically way overpriced, and peeps that buy them on there routinely pay way more than they're worth.

ICG is not a reputable grading service either.

PCGS, NGC, and ANACS are the three reputable grading services.

[thecynic]

I"ll give you 3 cents for them.

[Curly Bill]

Now having seen em, I'd say they're worth $5-7 each retail.

[StoopTroup]

NEVER clean old coins!!!

1901-1905 wheat pennies are not worth much. I'm looking in "the redbook", which is the main guide coin peeps use, and Good versions go $3, Almost Uncirculated for $20, and Mint State 63's for $55.

Without having seen the coins I doubt they'd be worth getting graded.

Thats what I thought and I was figuring around 1-3 bucks. That's not bad for a freebie.

Thanks CB

Yeah I used to do a lot of EBAYin' I realize that bids are the better way to figure out what something might be worth. Starting bids are worth nothing in most cases.

[Curly Bill]

Sure thing. I've taken buying coins in spells over the years. I'll buy some, decide I've overdone it and then not buy anymore for a long time.

My best buy might have been a 2006 MS-70 $50 Gold Buffalo. Gave $720 for it.
It's one ounce of gold so scrap it's worth $1548. In it's MS-70 coin form it's worth over $2,000

[StoopTroup]

Sure thing. I've taken buying coins in spells over the years. I'll buy some, decide I've overdone it and then not buy anymore for a long time.

My best buy might have been a 2006 MS-70 $50 Gold Buffalo. Gave $720 for it.
It's one ounce of gold so scrap it's worth $1548. In it's MS-70 coin form it's worth over $2,000

Sweet. I had some Krugerrands back in the the 1980's but I needed some dough and Gold wasn't that big a deal then. I do wish I had them now....lol

I've still got a bunch of silver dollars.

A friend of mine was collecting Morgans for awhile. He did real well on them as when Gold was going up the Morgans where starting to go pretty cheap.

[Curly Bill]

Yeah, I got 15 or 20 Morgans I think.

...and yeah a buncha Krugerands would be nice right now.

I remember thinking oh hell! when I paid $720 for the Buffalo. I don't feel so bad about it now...wish I'd bought all of em I could have afforded.

[StoopTroup]

We've got some old chains and some broken gold jewelry and have been thinking of cashing them in but Gold just seems to keep going up and with the economy in the crapper it might be worth more in gold than cash is later.

I think we're gonna hold on to it all.

[Curly Bill]

That's what I'm doing with my coins.

[King Barry's Back]

We've got some old chains and some broken gold jewelry and have been thinking of cashing them in but Gold just seems to keep going up and with the economy in the crapper it might be worth more in gold than cash is later.

I think we're gonna hold on to it all.

Dude -- you've got scrap gold laying around and you want to hold it!?!

Gold is now at historic heights, and we are in the midst of an unprecedented speculative bubble in precious metals.

WHEN gold bullion prices fall back into line with their intrinsic value, gold will be trading at a small fraction of its current price.

SELL THAT STUFF NOW!

Sure, if you wait a bit you could get a small amount more, but what are the odds that you are going to time the market better than the Wall Street guys?

ANd when the bubble bursts, it's going to pop almost overnight. It won't be a slow decline like in housing. Gold's value is just going to evaporate.

[badger]

^^^ He's probably right. Just like beanie babies, people are going to eventually realize they're not buying anything useful, just something deemed a "good investment." With a house, at least you get a roof over your head that appreciates. With beanie babies, it's a bean bag toy that's cute. With gold, it's shiny and can make jewelry???

[OUinFLA]

I sold 250 of similar grade IH's and the best I got was $1.25 for the better dates and .75 for the common dates.

The Red Book is only a guide. Good luck getting a dealer to pay anything near that price.

Dealers use a listing from CDN Greysheet. It lists the buy/sell price for collectable coins on a weekly basis. It is a guide that tells the coin dealer what he can expect to sell the coin for in a rapid manner to much larger coin wholesalers. If the buy/sell is $20/$22, the dealer will give you less than $20 for the coin, as he will only be able to wholesale it that day for $20. How much less? It depends on how he structures his profit margin. I have dealt with several dealers and I find a wide variance in what they are willing to offer for a collectable coin.

Also, a dealer may have a client searching for a particular coin and he knows he will have a retail sale if he has the coin. Since retail is higher, he would be willing to pay a higher price to the seller.

The dealer I use the most also ebays a lot of his collectable coins. When I argued with him over a price compared to what was being "asked" on ebay, he informed me that I should investigate "recent sales of like items" on ebay to get a better idea of what the coin was actually being sold for.

There are some large auction houses like Heritage Coins who solicit coin collectors to let them auction their coins. They will give continuous examples of what their auctions have yielded receintly. The problem is, if you submit a coin to them expecting the same results, you might be dissappointed as there may be no buyer at that time wanting "your" coin.

It's an interesting game I have played at for over 20 years. I am in the process of liquidating all my collectable coins. There is too much discrepancy in grading. One guys says MS-64, another says MS-65. There could be a difference of a few hundred dollars in the grade.

I entered a phase where I would not buy un-slabbed (professionally graded and sealed) coins. That way I felt there was no question as to the grade.

Not so. If you read the grey sheet, you will find that PCGS coins bring about 90% of value, NGC about 80%, others bring only 50-60% of current value. Of course, it is more expensive to get PCGS to grade your coins.

The reason I am gettting rid of the collectables is the value discretion and I am not an expert. I do try to buy and sell silver depending on the market. Silver is a daily market fixed price. Nothing discouraged me more than to have some great looking Morgan Dollars graded at MS-62,63 and being told "they are worth no more than the silver content of the coin"

Dealer advised me to buy rolls of 90% silver coins when I thought the price of silver was low, and sell them when I thought I had made a reasonable profit. There would be no question of "coin value". It would be zero, silver value was all that mattered in this case. 1 oz silver bars would be just as reliable. I have dabbled in both.

Saddly,I bought a bunch of silver oz bars for $ 8 an oz one time, and watched the price decrease to $ 3 or less for..........several years. I just sat on the bars for ......... I think.........15 years before it went to $12 and I sold some. Then at $ 20 I sold some more, at $30 I sold more, at $45 I sold all the rest. This took almost 20 years to accomplish.

The one way to make a profit quickly is to be a big enough dealer that you can buy below the sell price, and then ship to the large wholesaler that night at the sell price. You make a small percentage. But, if you deal in $500 a day, you cant make a living on a 1-2% profit. My main coin dealer told me it was not uncommon for him to deal with $100,000 worth of silver a day. 1-2% makes him a really good living.

Hope this helps

[KuppiKunta]

Nerd alert!!!

[olevetonahill]

^ Idiot alert :rolleyes:

[Curly Bill]

Nerd alert??? For collecting coins or precious metals?

Someone is trying too hard to be funny and just looks like a dumas.

[Curly Bill]

^^^ He's probably right. Just like beanie babies, people are going to eventually realize they're not buying anything useful, just something deemed a "good investment." With a house, at least you get a roof over your head that appreciates. With beanie babies, it's a bean bag toy that's cute. With gold, it's shiny and can make jewelry???

Gold has been valuable since people discoverd the stuff. I don't think the comparison to Beanie Babies is very accurate.

Does the value fluctuate? Of course it does, but over time it only appreciates in value.

[olevetonahill]

Nerd alert??? For collecting coins or precious metals?

Someone is trying too hard to be a dick and just looks like a dumas.

FIFY

[Curly Bill]

That works too..:D

[GKeeper316]

i'm happy with my comic book collection.

coins are for dorks. :P

[olevetonahill]

Heh, i got a 1918 an 1935 Liberty 1/2 dollars what they worth?They def. been used. so go fer the Low value side.

[olevetonahill]

i'm happy with my comic book collection.

coins are for dorks. :P

And ole
http://4.bp.blogspot.com/_QgcIP-pa2II/SUbQw9KAJcI/AAAAAAAAAX8/TygI4OQWl-E/s400/GomerPyle.jpg

Strikes again.

[texaspokieokie]

i have a collection of car (hot rod) magazines. oldest ones are 1951.

[KuppiKunta]

Nerd alert??? For collecting coins or precious metals?


If the shoe fits......

[olevetonahill]

I'm an idiot, dickhead!!!


If the shoe fits......

:D

[Curly Bill]

Heh, i got a 1918 an 1935 Liberty 1/2 dollars what they worth?They def. been used. so go fer the Low value side.

Right now they're worth around $12 just in the value of the silver.

Not worth much more than that as coins.

[Curly Bill]

If the shoe fits......

You're just mad cause you can't afford coins...or shoes.

Get out of the folks basement and get a job!

[olevetonahill]

Right now they're worth around $12 just in the value of the silver.

Not worth much more than that as coins.

each? or per?

[olevetonahill]

Oh and they in those little colectors card board plastic covered deals.
Got an 1818 penny thats the size of a 1/2 dollar:confused:

[Curly Bill]

each? or per?

Each. Siver is around $35 an ounce, and each coin has .361 oz of pure silver.

[olevetonahill]

Each. Siver is around $35 an ounce, and each coin has .361 of pure silver.

cool , just looked in the jar and theres another one .know anything about that penny.
Its says one cent on one side and gots a pic of some old broad on the other.

[Curly Bill]

Oh and they in those little colectors card board plastic covered deals.
Got an 1818 penny thats the size of a 1/2 dollar:confused:

A Liberty Head Large Cent. Retail value from $20 to one in Good condition to $650 for one Mint State 63.

And again, that's what a dealer would sell it for, not what they'd give ya for it.

[KuppiKunta]

I'm an idiot dickhead

:D

[olevetonahill]

A Liberty Head Large Cent. Retail value from $20 to one in Good condition to $650 for one Mint State 63.

And again, that's what a dealer would sell it for, not what they'd give ya for it.

Heh, just took it O/S so i could see it in the sunlite.
Yea its a liberty heaf. All markins are clear and not worn down looking

Had these fer years and until this thread never thot much about em.

[olevetonahill]

:D

What ever ya say there Kunta kinte :rolleyes:

[Curly Bill]

Heh, just took it O/S so i could see it in the sunlite.
Yea its a liberty heaf. All markins are clear and not worn down looking

Had these fer years and until this thread never thot much about em.

If you have a 1921 Liberty Half I'll buy it off ya. ;)

[olevetonahill]

If you have a 1921 Liberty Half I'll buy it off ya. ;)

Let me take this one o/s and see if I can see the date. Its not in that lil protective deal

[olevetonahill]

20 years to new, its 41

[Curly Bill]

20 years to new, its 41

Worth about the same as those other two then.

[thecynic]

Nerd alert!!!

werd

[olevetonahill]

Worth about the same as those other two then.

Oh well since I aint got a clue how I got em ,werks fer me

Musta been a durnken trade when i had my shop open .:D

[KuppiKunta]

What ever ya say there Kunta kinte :rolleyes:


You a racist too?

[olevetonahill]

You a racist too?

Well yea, aint you?:confused:

[OUinFLA]

Heres a link to the most comprehensive daily price guide

http://www.pcgs.com

click on price guide.
You may have to page back and click again if it asks you to register. You do not have to register.

Once you chose the type of coin you are wanting to look for, it will bring up a page of all those dates.
Clicking on some of the years/mint mark choices will give you an info page on that particular coin.
Prices are always based on rareity, condition, and demand.

I have a Silver Clad Proof Washington quarter that my dealers suggested I put in the soda machine as it was only worth .25 to him.
I decided it will make a nice gift for one of my grandkids.

Never assume your idea of a coin's grade will be the same as a dealer you want to sell it to. Shop several dealers if you really want to unload some expensive type coins. That's why I only bought slabbed coins over the last decade. It takes a lot of arbitration out of the process. Again, depending upon who did the grading.

I am through with buying collectable coins now, I will only deal in silver or gold in 90% coins or in slabs.

One other thought, if selling, don't jump at the first offer. They did a special here in Tampa on selling your gold (jewelry/coins) They started with a reputable gold dealer and took $250 worth of gold (dealer signed a contract that he would pay that amount adjusted up or down depending upon what gold did during the time of the project).
1st stop local gold buyer offered $52 for the gold.
2nd one of the national advertisers on tv that buy gold. offered $32
3rd another well known national advertiser (the one using celebrities you know) they offered $24.

Point being, there are many less than reputable buyers out there and they profit very well on the public trying to make a quick buck on something they know very little about.

Regarding The Red Book. It is an excellent publication to direct you in how to grade your own coins. Remember you must be brutal in your grading, I can assure you the dealer will be more brutal than you.

[olevetonahill]

Thanks Bill,Never been much on collecting coins, just have these.

[OUinFLA]

One other thing about PCGS.com
The prices they list reflect the most recent sale of that item in markets they monitor around the world. Auctions, private sales, show reports, etc.

It does not mean you will get that price. It just means someone got that price very recently. They also make adjustments for the value of silver or gold changing constantly.

[JDMT]

I have several silver 8 reales cob coins from the atocha.

[Jacie]

I used to be a buyer of collectible coins through dealers and later on ebay. After acquiring most of the U.S. coins I could afford I turned to world coins. It wasn't the value so much as the hunt that I enjoyed. With world coins you can go with a topic or make one up yourself and with a little research, discover what it is you need to fill a collection.

With U.S. coins, collecting first became kind of boring since all I was doing was trying to get another year or mintmark of something I already had and then the grading movement took over, prices escalated and it just wasn't as much fun anymore.

Now I have read about counterfeits out of China and I mean a lot of counterfeits, any U.S. coin you can imagine and they are making replicas of it. They slab them, put them into plastic holders saying they have been graded, and sell something they spent a few cents making for tens to hundreds of dollars. They also don't make U.S. silver coins out of 90% silver so you are getting ripped off that way too.

Check the pics in this link.

http://coins.about.com/od/worldcoins/ig/Chinese-Counterfeiting-Ring/

They can fake coins that have edge ridging or lettering so any coin can be faked.

[Blue]

Dude -- you've got scrap gold laying around and you want to hold it!?!

Gold is now at historic heights, and we are in the midst of an unprecedented speculative bubble in precious metals.

WHEN gold bullion prices fall back into line with their intrinsic value, gold will be trading at a small fraction of its current price.

SELL THAT STUFF NOW!

Sure, if you wait a bit you could get a small amount more, but what are the odds that you are going to time the market better than the Wall Street guys?

ANd when the bubble bursts, it's going to pop almost overnight. It won't be a slow decline like in housing. Gold's value is just going to evaporate.

The bubble thats going to burst is the dollar bubble. Gold will then go much higher.