# How to Value Coins



## prmhs (Jan 16, 2009)

Hi Everyone,

My father in law has given us a huge bag of coins from a collection he built over his lifetime. Some are pure silver/copper coins - others are in containers and collectibles - I have no idea what they are worth or who to ask...I do know that the trend is to get those items valued in case of emergency...any suggestions? Thanks,
prm


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## *Andi (Nov 8, 2009)

http://www.preparedsociety.com/forum/f4/coin-values-11812/

Happy reading!


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## Woody (Nov 11, 2008)

First off, if you are looking for collector value and not just metal content, you need to visit your local coin shop. Take a look through the 'bag' and pick a few from it, say Washington Quarters, or whatever denomination. Pick one in a holder that looks brand spanking new, not a scratch on it. Take another one that looks to be a bit worn, another worn a bit more and one that is 'trashed'. Bring them in and take a look at what they have offered, in the same denomination. Coins are "Graded" by the amount of wear on them. Dates are also important, one quarter could be worth $1,000 worn down while one brand new might only be worth $1.00.

Talk to the dealer, most are more than willing to chat with someone who has found a new 'hoard' of coins. If OPSEC is an issue, just say you have a few coins and were wondering. Most coin dealers I have met are pretty honest but remember, they want to give you the lowest price and you want the highest price, that is the game. Also remember, they have to make money on any deal, they are NOT going to give you full retail value for it. If "Book Value" is $10, he will offer you $5 or $6. Settle for $7, $7.50 or $8, depending on your barter skills. $8 still leaves him a little meat. Barter is always better! You can get that $10 for something in his shop that has a price of $10 easy.

Ask him about grading the particular coins, what are the wear areas, what is a conservative grade on this one or that one. Look at comparable coins in his shop. Then buy something from him before leaving!!! It has been years for me, but there used to be a 'blue book' and a 'red book' of all U. S. coins and their values. Buy one. If you have time, look up a particular coin you brought in, check the grade/year/mint of it and sell it to him. Don't give it away but remember, you gained a lot of knowledge from him, you are paying for an education so give him a good deal. If you are close, offer to trade one for your book! Next time you come in, you will not regret it. They will remember you as a buyer/trader, not just a looker.

Take your book home, gather the family and a magnifying glass. Or, if you are young enough your own 2 or 4 eyes. Pick out one at a time and have some fun!!! 1956 Lincoln penny, Condition looks to be B. UNC, books says...$... Was there a mint mark on it? Shoot, forgot to look!!!


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## k0xxx (Oct 27, 2011)

First, I would sit down with your father-in-law and have him tell you about the coins and what they may be worth. If that isn't possible and you feel they may have some real value, then get you a Whitman Red Book. You can get them online, most coin shops, and at big name book stores. The book will tell you what to look for to get a general idea of condition and give you an average retail value. If you prefer, you can look up values at Whitman's website, but it's a pay site. The good news is that you can sign up for a 14 day free trial.

Just remember that grading a coin for condition can be very subjective and small differences can mean a lot of money if the coin is valuable. If you think that you have something of value, then definitely take it to a coin store for their opinion. If it's worth a decent amount, then you'll want to send it off for grading at a professional service (it sounds as if some may already have been graded).

Also, until you know the value of the coins, it's a good idea not to handle them with your bare hands. Finger prints can severely impact the value of an otherwise pristine coin. Cheap cotton gloves are a good investment.

One last thing. Never clean a coin until you know that it has no numismatic value. Cleaning will destroy a lot of the value of a good coin. If the coin is only worth it's silver content, then cleaning it will not change that.

I have been collecting for about 45 years, and would be glad to try to answer any questions you may have (or at least point you in the direction of an answer).


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