What is the best way to get rid of an old coin collection? Who do you trust?

Question

My father collected for years - then he had a stroke and stopped collecting. They have been sitting in a closet for the last 40 years.

Answer 1

if you want, you can bury it somewhere near like your backyard in a chest and also put  a letter saying that its for your grand son or something. OR the best way to do...SPEND IT^^

Answer 2

You could always go to an antique shop and sell the coins, because collectors will go to antique stores to find old coins. I wouldn't suggest giving them to a pawn shop or spending them, they could be worth a lot of money! A nother way to get rid of them is put an add out in the local newspaper, there might be a collector out there that really wants them! :) Good luck!

Answer 3

It depends on the coins.  Common coins from the 20th century in circulated condition are not worth much.  Indidan head pennies are mostly worth 50 cents to $1.  Wheat back pennies are mostly worth less than 5 cents each.  Mercury dimes and Walking Liberty Half Dollars are all basically worth 12 times face value and that is pretty much what any coin dealer will pay for them.  They will buy gold coins for about 40 times face value.  Uncirculated coins from the 1800's can be worth a lot.  I recommend going to a coin show to get offers from a number of dealers if the total value of the collection is under $2000.  That is also about the only place you can find someone to buy foreign coins.  If the collection is worth more than $5000 I recommend bringing part of it to a coin show and don't tell the dealers what else you have until you trust them.  See www.coinshows.com for a list of shows in your area.

Answer 4

keep it. i dont think your dad would want you to give it away or sell it or spend it.

Answer 5

I think you should keep it and make it a family generation to past it down to your children after you have it and then to their children. But I think you should only give it to them when their old enough to take care of the collection.

Answer 6

give it to a close friend you trust

Answer 7

Take it to several coin dealers for appraisals.  You can buy a copy of Coin World or go to http://www.coinvaluesonline.com,

but you need to understand about the coin condition grade.

Answer 8

The best bet is a coin dealer. It is best to go to more than one. Remember an antique dealer is not a coin dealer. Coins get a value as to how rare they are, as well as what grade they are. A way to check on how honest a dealer is would be to go to his store and say you are just looking and listen to him talk to others. If there is a lot of hype or some complaints leave him alone, go some where else. I have no idea of what coins he has, if it is collections of say cents or nickels in folders or older coins from the 1800's. Usually the collections in folders are missing the more rarer coins but coins that are older say silver dollars from the 1800's or 1/2 dollars that old command some value. I could help some but need to know just what is there. I can either get values or give better advice. You can email me for I let people do that even though the address is hidden. I will then send it too you if you wish for more help. You can also go to a dealer and see if he has a Coin Values price guide it comes out once a month, they are retail prices and you will get 40 to 50 percent less but it will give you a ballpark figure so you won't go in blind.