Newbie Questions (Inherited coins) 0

[weiyan55555]

Hi everyone,

I am new to this forum and coins in general. I recently inherited around 65 coins from my mother. They've been passed down in the family, originating from my great grand father.

They are almost all "Fat Man" Yuan ShiKai dollars of varying ages.

Seeing as they're an heirloom, I am not looking to sell, but rather preserve and appraise these coins. My questions are as follows:

- How do I go about getting these appraised? Should I send them to NGC for grading (This seems like it can be expensive for all the coins, wondering if it's worth it).

- Should I have these coins cleaned? How can I best preserve them going forward.

 

EDIT

Thanks everyone for your responses.

- I have since purchased flips and put each coin in one.

- I performed the magnet test. Thank goodness none of them were magnetic (mom would be sad). Also, they've been passed down almost 100 years within my family, so I have little doubt they're authentic.

- Attached are some pictures. I realized I have many varieties, not just Fat Man Yuan. I posted a couple examples.

Upon further inspection, the coins are looking rusty. I suspect someone in my family cleaned them before they were passed to me. When I first received the coins many years ago, they looked much better.

So more than ever, I'm looking for advice on how to proceed to best preserve the coins. If I wanted a profession to clean or appraise the coins, how much should I expect to pay?

Edited August 16, 2021 by weiyan55555

[1187]

Buy some air tight coin capsules they are cheap and provide great protection for the coin you can get them on EBAY or any coin store.  You might want to make sure these aren't fake prior to sending them to grading if you decide to have them graded.  A lot of the Fat Man coins are counterfeit that are floating around.

[JKK]

To preserve them, I'd suggest Saflips. They are large enough to handle those coins. To appraise them, I'd pay a reputable dealer to do that. Tell them you aren't planning to sell, and just want an appraisal, and see what they'd charge.

You should not have them cleaned. You very likely should not send them in for grading.

As a preface to messing with them, I suggest passing a magnet near them, just to rule out one of the cheaper forms of counterfeit. Those are very heavily faked, and it didn't begin last week, so their provenance is not proof of authenticity. The lack of attraction does not prove them genuine, but any attraction proves them false. I had a friend entrust to me about fifteen of those. I brought a rare earth magnet about four inches from them and it ripped them out of my hand as they jumped onto it.

[James Zyskowski]

Handle coins by edges. Never clean!!! Enjoy and try to do nothing until it’s been approved by someone knowledgeable. Welcome and how about a picture or 2. 🤓

[Jason Abshier]

@weiyan55555first off do not try to clean them and find a nearby dealer to do an appraisal for you you’ll need pay a fee for it , then ask dealer if any of them are grade worthy to send in for grading ? Some years Yuan Shikai Fatman are worth getting graded the pull in a nice premium … But if you have no intentions of selling the coins anytime sooner ? There is no rush to get them graded otherwise buy saflips keep the coins in comfortable  room temperature like a bedroom closest with small safe , throw some silica gel inside the box with the coins they should last the rest of your life time if they are stored properly 

Edited August 11, 2021 by Jason Abshier

[Back2myquarters.]

On 8/11/2021 at 1:55 AM, weiyan55555 said:

Hi everyone,

I am new to this forum and coins in general. I recently inherited around 65 coins from my mother. They've been passed down in the family, originating from my great grand father.

They are almost all of varying ages.

Seeing as they're an heirloom, I am not looking to sell, but rather preserve and appraise these coins. My questions are as follows:

- How do I go about getting these appraised? Should I send them to NGC for grading (This seems like it can be expensive for all the coins, wondering if it's worth it).

- Should I have these coins cleaned? How can I best preserve them going forward.

 

Thanks for the advice in advance!

Anacs coin grading company charges a bit less than others & is a very established, highly respected group & possibly may grade your coins without registering & holdering them, but not sure. However, having them graded, registered, & guaranteed, will greatly increase their value & being in the registry for ever helps even more. Pick a few good coins & send them for grading. I just checked on Heritage auctions (a great resource for checking coin values) they range from just over $100.00 to $400.00 with a 1921 going just for $1620.00. Greatly depends on their condition. Do not clean them, it can ruin their value. Good luck!

[RWB]

The coins you describe have been extensively counterfeited, including in your great grandfather's time.

First, check NGC's counterfeit articles.

Second, post sharp photos of a couple of the pieces here. Many of the counterfeits are readily recognized.

Third, do not attempt the clean, wash, scrub or otherwise "improve" any of the coins. Doing that will ruin the value of any authentic pieces.

Fourth, be patient. Once members see your coin photos, they will likely give you more information.

[weiyan55555]

Thanks everyone for your responses.

- I have since purchased flips and put each coin in one.

- I performed the magnet test. Thank goodness none of them were magnetic (mom would be sad). Also, they've been passed down almost 100 years within my family, so I have little doubt they're authentic.

- Attached are some pictures. I realized I have many varieties, not just Fat Man Yuan. I posted a couple examples.

Upon further inspection, the coins are looking rusty. I suspect someone in my family cleaned them before they were passed to me. When I first received the coins many years ago, they looked much better.

So more than ever, I'm looking for advice on how to proceed to best preserve the coins. If I wanted a profession to clean or appraise the coins, how much should I expect to pay?

[James Zyskowski]

I find them strangely attractive just as they are. 💯 + year’s of absorbing your family’s memories and I hope they are real and you are patient. A little more advice here is free. Good luck 🤓

[weiyan55555]

On 8/15/2021 at 11:52 PM, James Zyskowski said:

I find them strangely attractive just as they are. 💯 + year’s of absorbing your family’s memories and I hope they are real and you are patient. A little more advice here is free. Good luck 🤓

I agree, but I am concerned that because they are already rusty, they could be prone to even more rust quicker so if I open them again in 5 years, they'll look even worse

[James Zyskowski]

Understood. Hang in here there’s more who can weigh in on this. Remember they are what they are right now so don’t do anything that might be a problem. 5 years from now is a long time. Hang on you will get some advice and hopefully find the proper course of action. You’ve got a good start 🤓

[JKK]

On 8/15/2021 at 9:31 PM, weiyan55555 said:

I agree, but I am concerned that because they are already rusty, they could be prone to even more rust quicker so if I open them again in 5 years, they'll look even worse

You had best hope they aren't rusty, because--and I'm not doing this to be pedantic, but to help you with precise terms--rust is iron oxide, which can only happen to iron. You might be better served to say "corroded," which can refer to any form of chemical reaction that has affected the surface. (At least in my chemistry layman's understanding. There is probably a more precise definition that I don't know, and which someone might provide. In the meantime, if you think the surface has reacted with elements so as to alter it, that's what we'd normally call corrosion.)