Advice for a novice

[ABG]

Hi - I imagine this is a common question....my siblings and I have inherited some US coins - 20 1 oz $20 gold coins (17 Liberty and 3 St Gaudins), a 21 pound bag of silver (half dollars) and some proof sets.  The $20 gold coins were sold to my father about 40 years ago as Brilliant Uncirculated.  We have been offered $1,200 per coin. In checking with online guides, it appears most are common except an  1876S and 1905.  I was wondering if it is worth getting any of these graded?  Can anyone recommend a reputable local dealer.  I am in Northern New Jersey and easily within commuting distance to NYC.  Also, what is the best way to sell the silver?  thank you in advance so much for any help you can provide.

[MarkFeld]

Welcome to the forum.

Depending upon the state of preservation of the $20 pieces, they might or might not be worth grading. And $1200/coin is probably on the light side for a fair offer.

Don't clean them and don't sell them until you have obtained information by which to make an informed decision.

If you are able to post some clear images here, we might be able to provide more specific advice and suggestions.

[ABG]

Hi Mark - thank you for the advice and guidance.  I've attached a few files here for the potentially more valuable coins - let me know if these are clear enough to make any determination of next steps.  I've seen your name mentioned on other posts - would love to pick your brain for a few minutes if you wouldn't mind.  thanks

[Keigwin]

The $20 double eagles are probably worth having graded and slabbed. If for no other reason than authentication. But it would be better to find a reliable source to weed out any "problem" ones unlikely to get you a return on grading fees.

Do not sell any for $1200. Shoot...the gold content alone is worth $1211 at today's prices. And that's without regard to any numismatic value.

As Mark said, don't clean them. Originality matters with coins, just like antiques.

We are having issues with posting large images on this forum, which would really be needed to guide you. If you can save nice images to a hosting service like photobucket.com you can then simply link them here (to get around the forum's puny 450k image limitation).

Tell us about the half dollars. How old are they? Are they worn or uncirculated?

Lance.

[ABG]

Thanks for the input Lance.  I've loaded the photos I took to a this site - https://adamscoins.shutterfly.com/pictures#n_5  - thanks for any input you can provide.  We are quite sure of the authenticity of the coins (my father documented the purchase well and was an avid coin collector).  We are debating the additional value we would obtain by grading vs the additional cost.  Our main goal is finding the right outlet to sell the coins at a fair price and finding a dealer or outlet with integrity given our limited knowledge.

The half dollars are heavily worn and common.  My father purchased the silver as an investment many years ago.

Thanks again for your advice - it is much needed and appreciated.

 

[MarkFeld]

I glanced at the additional images and most of the coins appear to be common dates.  However, some of the Saints might be of sufficient quality to merit grading and ditto for the 1884-S Liberty.  I don't think authenticity is a question and would not get them graded merely for that determination.

I believe that your best bet would be to find a trustworthy and knowledgeable dealer you can work with in your area. If you wish to send me a private message or post the nearest major city you live in, perhaps I or someone else can locate a dealer for you.

[Keigwin]

I agree with Mark.

As for the half dollars it should be very easy to get near "melt" for them by posting them on "The Money Marketplace" here:

https://www.ngccoin.com/boards/forum/13-the-money-marketplace/

Offer them as a lot, with or without a shipping fee (Priority Mail can handle the weight in one box for a flat fee). Silver is trading at $18.31/oz. Half dollars pre-1965 are worth $6.6226 each. You can check the latest value here:

http://www.coinflation.com/

Lance.

[orifdoc]

Mark, the OP indicates he is in Northern New Jersey, not too far from NYC.

What a nice inheritance.  As the other folks have said, $20 coins are really very cool and should sell at a premium over their melt value.  Each of these contains 0.96750 oz of gold.  The photos show excellent luster on some of the coins and I'm guessing many would grade in the MS60-62 (possibly 63) range.  Some of the others look to have been polished or cleaned (might just be the photography technique), but even so, they'll still sell at a small premium over bullion value.

It's slightly tricky to maximize their value at sale time.  Getting 80% of the value is easy.  Getting 100% will take some legwork on your end.   Most dealers will make you a fair offer, but of course they will leave room in their price to make a profit (that's OK, that's their job.)  Some dealers will make you a low-ball offer in the hopes of turning a quick (but not entirely ethical) profit.  Some of the coins should probably be graded prior to sale, but knowing who to trust is the trick. 

I don't know that part of the country very well.....  Dave Wnuck is in Connecticut, but that would perhaps be a bit far.  He advertises that he does appraisals.  I'd trust him without hesitation, and you might be able to arrange a meeting in the city, etc.  Hopefully some others will chime in with a list of the "good guys."  There are certainly others.

[MarkFeld]

Bryce, I let the OP know that Heritage has an office in NYC, in the event that it's convenient for him.

[jedm]

Of the Liberty's that 1884 S is a beauty!

[ABG]

Thank you all for the advice and information.  I plan to contact the parties you've all recommended and would welcome additional recommendations in the Northern NJ/NYC area.  The expertise you've shared has already helped put me on a better path!

[david3142]

Heritage on Park Avenue would be an excellent option.  It would probably be worth calling in advance and speaking to an expert there (Sarah).  If you come into the city you should also try Stacks on 57th street, since they are about 3 blocks away.  Also, Legend Numismatics is in Northern NJ.  You can find their information at legendcoin.com

Good luck!