Starting again after 30+ years

[Regis44]

BACKGROUND- I'm 'finally' getting back to coin colecting (US). I have some simple collections of wheat pennies, merc dimes, and misc quarters in some of the old blue booklets. I've got 2 bags of silver dimes & quarters that I have not even opened in over 15 years. I only bought a few MS quality coins back "in the old days" so most of what I have has been bounced around a good bit. Now days there is reliable quality grading and preserving and I want to build more meaningfull collection(s).

QUESTION - With silver so high ($11+) do you think it is worth maticulously trying to "pre-grade" the coins (in bags) to save and then submit for true grading, or just cash-in at Kitco and begin buying graded coins? If there is reasonable chance of finding quality coins that have been bagged and moved for years, I don't mind committing the time to go through each coin.

 

If there is some coarse then fine screening method folks use for bagged coins, it would sure help me.

 

This is a great site and resource (although I'm trying to learn some of the new terminology)

 

Thank you,

Regis

[paperchaser-migration]

It's always worth looking through bags of coins -- one NEVER knows what lurks within those things. You should consider submissions for the true KEY dates regardless of grade, otherwise let your pocketbook be your guide.

Silver at $11+; well remember the price about 26 years ago -- roughly $45-$50.

[MunkyMan95]

If all of the coins have been "bounced around" as you put it, then you may just want to have them melted. One should always make sure he has nothing more valuable than melt value before he does this, anyways.

[cpm9ball]

If there is some coarse then fine screening method folks use for bagged coins, it would sure help me.

 

Regis

 

One by one! If there was an easy way then Billy (Die Varieties) wouldn't be as successful.

 

Melt value?......If you totally demolish the old house, you may never know if there were any treasures hidden within the walls.

 

Welcome to the neighborhood and another episode of Days of Our Coin Lives.

 

Chris

[Regis44]

Then "One by one!" it will be. I probably wouldn't have had the heart to 'cash-in' without going through them pretty well anyway.

 

tx,

Regis

[chinook]

Welcome!!!

[IGWT]

Hi & welcome. Have fun!

[michael]

welcome and you picked a great forum to ask questions and reintroduce yourself to collecting usa federal coinage

 

wow you got two bags of silver wow that is 2000 face of silver so you got approx $16200 of silver melt value for your two 90% bags of silver total

 

you are off to a great start with your coin allotment money if you sell both of these bags

 

but you got to check the bags for better dates and varities so you do not leave anything on the table so to speak

 

good luck

 

myself i would put together a type set of usa coins pre 1915 and only sell one bag keep the other bag as silver might be 15 20 dollars an ounce in a year or so maybe less

[James_OldeTowne]

First of all, Welecome to our friendly little neighborhood.

 

If I had a bag of more-or-less junk silver, and I wanted to take advantage of the learning and financial opportunities, here's what I would do:

 

(1) Clear off a nice large workspace and dump out all the coins.

 

(2) Relying on gut instinct, pull out all the high-grade appearing coins. By this, I mean the AU and BU coins. Carefully set them aside for later. Shoot for perhaps 10% of the total volume of coins here.

 

(3) Take all the rest of the coins grading below AU, bag 'em up, and get rid of 'em. SilverTowne is an excellent place to sell, but there are many dealers paying just a couple of points back of spot. These coins will do you NO GOOD as a coin collector. They just tie up money, space, and waste your time. The quicker you convert these to cash, the better. Don't fret about whether silver is going to go up or down a couple points, because as a COIN collector, that doesn't really matter much.

 

(4) Now, of the coins you set aside in (2), you have a golden opportunity for numismatic education. Arrange these coins in such a way that they go from "best" to "worst" in terms of grade, based on what you think.

 

(5) Take a sampling of what you considered the "best" coins, and get them into 2x2 flips. Take these to the next few coin shows, and get grading opinions from people you trust - preferably other collectors in your coin club, for example. You can learn a ton this way, without a big dollar investment on your part. Take the money you got from (3) and buy a few (but only a FEW) certified coins, that is NGC or PCGS or ANACS. Buy coins similar to the ones you set aside. This should be a very inexpensive way to assimilate a "grading reference" collection.

 

(6) Perhaps most important of all, come back here to NGC's boards, and share your experiences. The feedback you get will be a tremendous reinforcement of everything you learn above.

 

These steps should put you well on your way to re-familiarizing yourself with the state of the hobby today.

 

I wish you good luck!

 

James

[Bruceswar]

welcome and good luck

[Regis44]

Thanks for all the welcome and encouragement. By-the-way, those 2 bags are "technically' 1 silver bag split into 2.. Still, plenty to start back with.

 

James,

That is a great plan. I really like the part about picking the best in my current lot and then buying a 'few' matching certified coins. I'm in small town so there is only 1 show a year. I do get to Atlanta, Memphis, and Nashville several time a year though so maybe I can time one of those trips better(?). And, I'll have to check into local club(s).

 

All this online help is especially great for those of us that are not 'near' large cities with lots to see and compare.

 

Once again, thanks,

Regis

[James_OldeTowne]

eBay is an ideal place to pick up cheap slabs. The good news is, you don't need to buy any expensive coins to get your education started. Any common-date coins in extremely affordable grades will do just fine.

 

I think you're on the road to a lot of enjoyment, and hope you'll enjoy the ride.

 

 

James

[MunkyMan95]

You can also pick cheap slabs up at www.CheapSlabs.com... where else?

[RoelSports]

Welcome! I am in the same boat as you, minus the silver...starting after 30+ years...read a ton...the game is way different than it was back in the day...good luck and keep posting...scr

[Regis44]

I'll only post one of these until I get it all sorted out.

Here is the 1st group. Inside the 1st bag was a small sack of 85 half dollars. I selected 11 pretty sharp coins to study and begin grading (3 Standing Libertys and 8 Franklins). Not sure about all those 1964 kenedys. Some are more brilliant than anything I've seen before. There was 5 or 6 Standing Liberties that someone had mad shine real good but it was easy to tell they were quite worn.

Overall, the half dollars look in much better condition than the rest of the dimes and quarters. They will take a lot longer.

 

Thanks for all the tips and when I'm done I'll come back with the totals and photo of the best that I find.

 

Regis

[James_OldeTowne]

Unfortunately, the 1964 Kennedys are about THE most common hoard coin there has ever been. I can't remember the last time I've ever seen one that was even the least bit circulated! Those are probably not a good coin to keep for reference, because oddly enough, you'll have kind of a tough time finding certified 1964s.

 

Walkers and Standers are not really junk silver, unless dateless. You should get a premium for those.

 

Looks like loads of fun!

 

James