Q&A: What kind of collection do I have?

The following is excerpted from Clifford Mishler’s Coins: Questions & Answers:

Is it time to sell your coins? Perhaps you don’t consider yourself a collector, but you’ve inherited a cigar box full of Grandpa’s old pocket change. Or maybe you’ve spent years in the hobby, and you feel like it’s time to explore new paths. You might be drawn to a different collecting speciality within numismatics, or even to a completely new hobby. Perhaps your life circumstances have changed, and you need to cash in (however reluctantly) on your investment. Or maybe you want to take advantage of the current “hot” coin market by selling off some of your collection’s duplicates.

Regardless of why you’re selling, you now have some decisions to make. Will you sell your collection privately, to a local coin dealer? Shop it around to dealers nationwide? Consign it at a public auction? Or maybe auction it yourself, on the Internet? What are the benefits of each path, and which will bring the greatest profits?

To get started, the first question you should answer is, “What kind of collection do I have?”

The 2018 U.S. Mint Proof Set. Hover to zoom.

Rolls of modern Coins, Proof sets, modern commemoratives, bullion, etc. This includes bulk investment coins, such as American Eagle bullion pieces, bags of common circulated silver coins, rolls of Uncirculated statehood quarters, and so on. It also includes modern commemoratives and Proof and Uncirculated sets from the U.S. Mint, not all of which have increased in value in the secondary market. Such coins and accumulations are best sold privately to a coin dealer or to another collector. Auctioning them yourself, on the Internet, is also a potential route. Consigning them to an auction house is not likely to be your best option, as this venue is typically reserved for scarcer coins.

U.S. coin collection featuring Lincoln pennies from 1941 to 1974. Nearly complete set in a folder by Whitman Publishing, LLC. Also features two error pennies and a description page.

Coins with sentimental—but not necessarily high-dollar—value. You might have inherited or gathered an accumulation (as opposed to a studiously compiled collection) of coins—for example, a coffee can full of Wheat cents, or a jar full of Buffalo nickels pulled years ago from pocket change. Your local coin dealer can make you an offer on such coins, either buying the entire lot or searching through them to “cherry pick” the better pieces. If you have the time and inclination, you might sell them yourself, through an Internet auction site. The same advice applies to individual lower-value coins, tokens, and medals. Additionally, you might consider donating such coins to a local Boy Scout troop or similar organization (this encourages coin collecting as a hobby, and may be tax-deductible).

The Rittenhouse 1792 half disme.

Rare and/or significant coins. For rare, valuable, and historically significant coins, a public consigned auction is often the best way to sell, potentially bringing much higher prices than you could get selling to a dealer. Dedicated collectors subscribe to auction firm catalogs, knowing they are good sources for scarce and expensive coins. When you consign your collection to a well-established auction house with numismatic experience, your coins will be carefully studied, cataloged, publicized, and presented to an audience of serious collectors with money to spend. You save the time and effort of searching for potential buyers, perhaps traveling, worrying about security, etc. The auction firm makes money by collecting a commission on each sale.


Another option for selling your rare and significant coins is to approach a dealer nationally recognized as an expert in the field—for example, a specialist in 18th-century gold, or a dealer who focuses on colonial coins.

You can also receive tax benefits from donating your rare or significant coins to the American Numismatic Association, the American Numismatic Society, or a museum.

After you’ve considered the scope of your collection, you can decide the best venue for selling.

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  2. Per policy, we do not advise on the value, authenticity, or rarity of readers’ coins and banknotes. For this kind of assistance, you should contact a reputable dealer, preferably one who’s certified by the American Numismatic Association and/or the Professional Numismatists Guild.
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Comments

  1. Barry in Honolulu says

    I’m a collector in the first category, but not because I am fascinated by coin rolls and proof sets. I have six grandkids who wouldn’t know the difference between a 1909-S VDB penny from one minted this year. But the quarter-ton of silver eagles, pandas, philharmonics, etc. for each of them upon my death will require some thought how to handle such a sudden hoard. Leaving young people cash in a will usually results in a new car after vague promises to parents that they won’t blow an inheritance all at once. Hopefully, some of the kids will become more curious about the coins I leave to them. Who knows, maybe a couple may even dive into a hobby that their crazy grandpa enjoyed all his life.

  2. CasualCollector says

    Numbers for the 2018 LESPS (starts Oct 18 12:00 noon ET)
    Product Limit: 50,000
    HHL: 2

  3. Dustyroads says

    Looks like gold may have set a low back in the middle of August. We’ll see soon if it’s going to make it’s move soon. What’s the strength behind silver? Showing strong upward pressure.

  4. Dustyroads says

    CasualCollector, So the USM put a HHL of 2 on the LESPS. I hope this is not their only strategy.

  5. smalltimecollector says

    I’ve been waiting for the LESPS since I first saw it mentioned. As a young man visiting my grandmother in SF I’d always make a trip to the Mint to buy a silver dollar. These sets will be special to me and 2 of our 5 kids.

  6. says

    Comparing the 2015 Proof Platinum to the 2018 Proof Palladium

    2015 Proof Platinum:

    Launch Day = December 3rd, 2015

    Launch Day Price = $1,200.00

    HHL 1

    Currently Unavailable within 7 minutes

    Average sales price of the first 395 (10% of Launch Day Mint Sales of 3,954) = $1,913.67

    Days to reach 10% of Launch Day Mint sales on the bay = 19 days

    Average bay sales premium to Mint sales price = 59%

    2018 Proof Palladium:

    Launch Day = September 6th, 2018

    Launch Day Price = $1,387.50

    HHL 1

    Currently Unavailable within 6 minutes

    Average sales price of the first 1,478 (10% of Launch Day Mint Sales 14,782) = $2,258.69

    Days to reach 10% of Launch Day Mint sales on the bay = 26 days

    Average bay sales premium to Mint sales price = 63%…

  7. Mattarch says

    My experience selling my Dad’s ‘Rolls of modern Coins, Proof sets, modern commemoratives, bullion, etc.’ was the local dealers did not want them unless they contained silver. They said to much bother for very little market demand. After selling some on the Internet I decided that unless the net was more than $10 it was not worth my time, I am still working 50+ hours a week at my day job. I ended up donating the Lincoln Cents to the local coin club kids program and rolls of quarters cashed in at the bank.

  8. The RCB says

    Off Topic. This question is for anyone who collects the Queen’s Beasts set. Do you know why the Griffin 2 oz costs so much more than the rest. I started collecting them late, and have all except this one and I don’t know if it is worth paying 80 for it.

    Thanks

  9. CasualCollector says

    Just got an email from the US Mint that they are now selling the products of the Bureau of Engraving and Printing (BEP). You can see the products under CURRENCY

  10. Dustyroads says

    RCB, Out of the major retailers that I just looked at none had the coin for sale. I would say that the availability is just getting tight. I agree, it’s hard to justify paying that much for a Griffin. Keep looking until you find one cheap.

  11. says

    16EA 2016 AM EAGLE SILVER PROOF 1 OZ 592,584 +95
    16EB 2016 AM EAGLE GOLD PROOF 1 OZ 24,231 + 6
    16EC 2016 AM EAGLE GOLD PROOF 1/2 OZ 6,008 + 2

  12. says

    17EA 2017 AM EAGLE SILVER PROOF 1 OZ 385,172 +223

    17EB 2017 AM EAGLE GOLD PROOF 1 OZ 9,071 +11
    17EC 2017 AM EAGLE GOLD PROOF 1/2 OZ 2,526 +3
    17ED 2017 AM EAGLE GOLD PROOF 1/4 OZ 4,537 + 9
    17EF 2017 AM EAGLE GOLD PROOF 4-COIN SET 9,811 (2)

    17EG 2017 AM EAGLE SILVER UNC 1 OZ 176,739 –

    17EJ 2017 AM EAGLE PLATINUM PROOF 1 OZ 8,890 –

    17EL 2017 AM BUFFALO GOLD PROOF 1 OZ 15,810 –

  13. says

    18EA 2018 AM EAGLE SILVER PROOF 1 OZ (W) 312,549 +1,456

    18EB 2018 AM EAGLE GOLD PROOF 1 OZ 4,968 +67
    18EC 2018 AM EAGLE GOLD PROOF 1/2 OZ 1,715 +18
    18ED 2018 AM EAGLE GOLD PROOF 1/4 OZ 2,882 +48
    18EE 2018 AM EAGLE GOLD PROOF 1/10 OZ 10,423 + 113
    18EF 2018 AM EAGLE GOLD PROOF 4-COIN SET 6,598 +27

    18EG 2018 AM EAGLE SILVER UNC 1 OZ 119,669 +591

    18EH 2018 AM EAGLE GOLD UNC 1 OZ 7,374 +25

    18EJ 2018 AM EAGLE PLATINUM PROOF 1 OZ 11,517 +57

    18EK 2018 AM EAGLE PALLADIUM PROOF 1 OZ 14,875 (6)

    18EL 2018 AM BUFFALO GOLD PROOF 1 OZ 13,008 83

    18EM 2018 AM EAGLE SILVER PROOF 1 OZ (S) 130,312 2,302

  14. says

    18CA 2018 WWI CENTENNIAL SILVER PROOF 55,526 +295
    18CB 2018 WWI CENTENNIAL SILVER UNC 19,727 +43

    18CC 2018 WWI CENTENNIAL COIN & MEDAL – ARMY 15,579 + 4
    18CD 2018 WWI CENTENNIAL COIN & MEDAL – AIR SERV 12,483 + 22
    18CM 2018 WWI CENTENNIAL COIN & MEDAL – NAVY 12,207 + 6
    18CN 2018 WWI CENTENNIAL COIN & MEDAL – MARINES 12,613 + 9
    18CP 2018 WWI CENTENNIAL COIN & MEDAL – COAST GRD 9,373 +36

  15. says

    18CE 2018 BREAST CANCER GOLD PROOF 9,712 + 67
    18CF 2018 BREAST CANCER GOLD UNC 4,177 + 60
    18CG 2018 BREAST CANCER SILVER PROOF 30,993 + 401
    18CH 2018 BREAST CANCER SILVER UNC 11,270 +71
    18CJ 2018 BREAST CANCER CLAD PROOF 16,765 +104
    18CK 2018 BREAST CANCER CLAD UNC 10,039 + 49

  16. says

    Big Boy returns…

    17AJ 2017 ATB SILVER UNC 5 OZ – EFF MNDS 17,024 + 7
    17AK 2017 ATB SILVER UNC 5 OZ – DOUGLASS 17,678 + 1
    17AL 2017 ATB SILVER UNC 5 OZ – OZARK 17,580 19
    17AM 2017 ATB SILVER UNC 5 OZ – ELLIS ISLAND 17,669 + 1
    17AN 2017 ATB SILVER UNC 5 OZ – G R CLARK 14,731 –
    18AJ 2018 ATB SILVER UNC 5 OZ – PIC ROCKS 17,470 +41
    18AK 2018 ATB SILVER UNC 5 OZ – APOSTLE ISL 15,881 +24
    18AL 2018 ATB SILVER UNC 5 OZ – VOYAGEURS 15,336 + 60
    18AM 2018 ATB SILVER UNC 5 OZ – CMBRLND ISL 13,662 (622)

  17. says

    17XA 2017 AM LIBERTY 24K GOLD 1 OZ 29,130 +33
    17XB 2017 AM LIBERTY SILVER MEDAL (P) 55,187 –
    17XC 2017 225TH ANN ENHANCED UNC SET 210,419 –
    17XD 2017 AM LIBERTY SILVER 4-MEDAL SET 31,531 +25

  18. CaliSkier says

    @ Sherril: “Did anyone order a Breast Cancer and Stamp set today?”

    I did not, nor have I purchased any commemorative products, excepts the WW I medal coin sets. A complete set for myself and one for my brother!

    My guess is they sold less than 5,000 total. As of today there is no longer a HHL of 1. IMO, the Mint will be lucky to have 10,000-15,000 total of these sold, before going off sale at year end?

  19. CaliSkier says

    Thanks Cag for sales #’s!

    Has anyone noticed or is any one tracking the 2017-2018 potential LOW mintages for the 1/2 oz PF AGE’s? At the rate they are selling, when will the Mint pull the plug? If they go off sale before people notice mintage #’s, will we see an aftermarket appreciation immediately, long term or none at all?

  20. CaliSkier says

    Any chance that the returns(622) for the ATB Comberland 5 oz, is a typo or an accounting error?

    Seems like quite a large order(Big Boys) cancellation? Maybe, like WW I medal sets, no teeth showing on the aftermarket, so return or cancel? Hmmm….. penalties for returning??? New return policy, helping or no?

  21. says

    @CaliSkier,”Any chance that the returns(622) for the ATB Comberland 5 oz, is a typo or an accounting error?

    Seems like quite a large order(Big Boys) cancellation?”

    Looks like the standard number of returns that have accompanied the 5 oz. “P” series…

  22. Throckmorton says

    I’m glad I stayed away from the 2018 AGE UNC. I bet I’ll be even happier in three years when I buy a slabbed 70 at $100 over melt.

  23. Einbahnstrasse says

    So, just before the numbers from the Coin & Stamp Set start to come in, where are we with the BCA commem sales? Here’s the comparison to the Boys Town year-end numbers again:

    Gold proof: 9712 / 7347 = 132%
    Gold unc.: 4177 / 2947 = 142%
    Silver proof: 30993 / 31610 = 98.0%
    Silver unc.: 11270 / 12234 = 92.1%
    Clad proof: 16765 / 23164 = 72.4%
    Clad unc.: 10039 / 15525 = 64.7%

    The silver proof should easily exceed the Boys Town number unless it unexpectedly goes off sale in the next couple of weeks. The silver unc. seems to be on pace to come very near the Boys Town figure; it’ll probably be within a couple hundred coins, plus or minus. The clad proof is far short of the Boys Town sales, but the Coin & Stamp Set only needs to sell 6400 units to close the gap, and it’ll probably manage at least that.

    But the BCA clad unc. seems pretty certain to become the new Low Mintage Wonder in its category by a pretty wide margin. There’s just not much love for clad commems lately.

  24. John Q. Coinage says

    Einbahnstrasse- there has not been much LOVE for any of the MINT’s commems for the past few years exclusing the Pd Proof (if a commem or what….) BCA & BT 2 subject with no legs nor appeal to collectors…….next year Foresters & Diner’s Club 65th Anniversary Coins!!! Also, a 60 years of LEave it to BEaver 1959-2019….. Beaver in a StEAMING OWL OF sOUP ON THE 5OZ MEDAL!

  25. CaliSkier says

    @ John Q: Count me in on the Limited Edition “Leave it to Beaver in a Steaming Cup of Zesto Soup” 5oz PF Silver medal! That would be cool!
    (Oxymoron?)

    Of course the 2 1/2 oz PF Silver medals with the rest of the cast will be especially neat! Eddie Haskell, Wally, June, Ward, Whitey, Larry Momdello, Lumpy! Too funny……..jk of course

  26. Barry says

    RCB- I did quite a few internet searches recently regarding the high price of the Griffin coin and found nothing as to why the situation exists. I couldn’t even find mintages for the QB silver bullion coins to see if that is the reason. So it is a mystery for now.

  27. John Q. Coinage says

    Cali- ZESTO, wow I just sw the episode a few weeks ago, for a long time I thought it was coffee!! Satire but in reality an unmined area for the USM, TV SHow commemes, for the boomers the dying breed of coin collectors. I can see the curved coin like an old Philco with the Flintstones on the screen….. or a cross-over the JFK -NIXON debate in 1960……60th Anniversary- by the way why no HI & AK Medal for their 60th Annioversary as a state, no we get Boys Town…….

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