what to do with old coins in bags?

[Crohnos01]

My grandmother was born in the early 1900s and started collecting coins when she was young, right up until she passed in the early 90s. I inherited her collection but just got my hands on it recently from my father when he realized I was into coins and he wasn't. Here's the problem: there are two boxes FULL of coins that each weigh probably 20-30 lbs each. We're talking old Franklins, liberties, Walkers, and books of nickles and cents. The loose stuff is (she did this with everything, not just coins) wrapped in paper towels and then put inside plastic bags. I am pretty new in collecting, but even I know pvc is a bad thing for coins....paper towels probably aren't great either.. Of course what damage may have been done is done at this point. Still, I need to sort through and see what's there and package it accordingly. Any suggestions on what to do or how to start? I have only gotten into the top layers, but I think this is going to take awhile.

[cpm9ball]

As you sort through everything, the most important thing would be to separate those that may have considerably more value or rarity (keys & semi-keys) from the rest - the wheat from the chaff, so to speak. Put them into individual holders - cardboard 2x2's would be the cheapest for the time being.

 

For the common-date stuff, the current generation of Zip-Loc bags do not contain PVC so it is okay to use them for separating each denomination/type. If you suspect that any coin may be contaminated, separate all of them from the rest.

 

Once you've completed this, then you can go about separating coins by date/mm, and finally, inspecting each coin for condition.

 

This is how I would do it, but maybe others have a better procedure.

 

Chris

[PerryHall]

The common date silver is worth about 20X face value. Better date and early coins are worth more. Some of those coins will probably only be worth face value. A detailed list of any rare or unusual coins will help us with more advice. Your best bet is to find a local trusted coin collector to help you evaluate your coins. Where are you located? Perhaps a forum member lives nearby and can help you evaluate your coins or we can recommend a trusted nearby dealer.

[Crohnos01]

Thanks for the advice! I live in SW Washington State, about 30 miles N of the Oregon border... All help/advice is much appreciated.

 

I have gotten through one bag so far of Mercury Dimes.... Some are in very nice condition...others, well they are pretty worn. Would it be helpful if I posted an inventory of what I find, or would that just be annoying? I have a website I could post them to and put a link here if that would be more appropriate....

[cpm9ball]

I don't collect the Mercury dimes, but keep an eye out for the 16-D and the "42 over 1".

 

Chris

[Bruceswar]

Posting a list of what you have when done would be a nice help to us all so we could help you out.

[jtryka]

I would sort them out, and all the common date stuff, separate by type and then roll them up, so you end up with rolls of Mercury dimes, silver Roosies, Franklins, Walkers, etc. Then the key date stuff put in 2x2s for later, as those will likely be the only ones with premium values. I would also separate out any odd coins (large cents, 2-cent, 3-cent, etc. that you might want to keep to remember your grandmother by, I did that with some coins my great uncle gave me and I still have them to remember him by.

[DaveG]

I guess it depends on how you view 40-60 pounds of "stuff" as a coin collection.

 

I'm presuming your grandmother collected coins from circulation. You could fill some albums or you could use your grandmother's collection as a basis to build a more sophisticated collection.

 

I would advise you to sell the common "stuff" and use the proceeds to build your own collection. I would start by pulling out all the "only worth bullion value" silver coins and sell them to generate some cash.

 

If you have any circulated Lincoln Memorial cents or common (non-silver) Jefferson nickels, I'd just wrap them and take them to the bank.

 

You may be able to find a buyer for common Lincoln Wheat cents - I've had trouble doing so recently. If you can sell them for 2 or 3 cents each, do so; if not, you might consider taking them to the bank.

 

Once you've done all that, you should have the collection down to a manageable size and can look over the coins more carefully.

[Crohnos01]

Thank you eveyone for the advice... I am trying to slog my way through..

 

I grabbed a bag with some rosevelt dimes in it... according to what I am able to pick up, a 1950 S is a keydate in the Rosevelts. The first coin i grabbed out of the bag, while worn, is a 1950 S. However, when I put it under a microscope, the S looks a little funny to me...It seems like the S is less worn than the rest of the coin and maybe kind of "ragged"? Is a 50 S a candidate for counterfeiting? Any opinions?

 

 

[coinman_23885]

It happens, and the coin looks genuine to me. Moreover, I doubt someone is going to counterfeit a worn bullion coin worth $2.

[Crohnos01]

Thanks Kenny! I would rather be safe and ask than not.

[DaveG]

Ah, if you're putting a circulated 1950-S Roosevelt dime under the microscope, I think you're working way too hard for way too little return.

 

Unless I'm mistaken, there isn't a circulated Roosie that will fetch more than bullion value at this point.

 

Unless you're just getting practice with your microscope (or have a lot of free time on your hands), I'd be pretty ruthless about getting rid of "stuff" in favor of buying better quality coins.

[shirohniichan]

"Junk" silver from your grandmother's collection may have high sentimental value. If that is the case, I'd get coin folders for the common stuff and keep the best example of each. The better coins can go into 2x2s or albums. You can sell the "junk" duplicates to fund other coin purchases.

 

A complete set of circulated Roosevelt dimes may only be worth melt value to many, but they can be a family heirloom that can introduce a future generation into collecting.

[Crohnos01]

Thanks guys... there are some of the coins that will definetly be of a sentimental value.... in particular there is a pretty badly worn 1943 walking liberty half that was in an envelope with her hand writing on the envelope. The envelope says: "From Bob in 1955 March 7. Juniors in High School. For ever and always"

 

Bob is my father, and obviously he gave her this half in 1955 on March 7th... I have asked my father about it, but he has absolutely no idea of the significance of either the date or the coin..... frustrating, but still I like it because of the envelope, her hand writing and the sentiment.

 

I don't have a great setup (yet) for photography, so I have to work with scans and I scanned the coin for whatever it's worth.... Now that I have done so, I see a pretty nasty fingerprint on the coin... ah well... it's more about the sentiment of the coin, and hey...it's probably either my Dad or Grandmothers finger print.

 

[DaveG]

Nice scan!

 

Although one can't argue with someone else's sentimental value, but otherwise, this is exactly the kind of coin you should be getting rid of: common date, less than VF condition and ugly toning.

[johnny9434]

Happy hunting