coins

Discussion in 'General Conversation' started by Scott Daw, Feb 17, 2008.

  1. Scott Daw

    Scott Daw New Member

    Messages:
    2,002
    State:
    Allentown, Pennsylvania
    Do we have any coin collectors on here? My grandmom in law just gave us her stash of old coins. I dont know anything about them. was wondering if I post pics if anyone can identify them and give any insights on them for my homeowners insurance. I keep them locked up in my gun safe.
     
  2. catfishcentral

    catfishcentral New Member

    Messages:
    1,497
    State:
    OK
    I use to be a big coin collecter when I was little. There's plenty of books and even coin magazines out there. You could probably pick up a book at your local library for free. There's lots of things that make one coin more valuable than others but it's mainly rarity and condition. There's one I bought each year I use to just call it the RED BOOK, it's a small hardback book. This will have all american coins from beginning to present day. They will also give you the details on how to grade your coins based on condition from poor to the many grades of uncirculated, even proofs. Coin collecting is quite fun and neat to hold history in your hand.
     

  3. smokey

    smokey New Member

    Messages:
    1,876
    State:
    Tennessee
    Scott, FYI silver is at 17.04 an oz. right now.I hope that helps a little.smokey
     
  4. olefin

    olefin New Member

    Messages:
    3,908
    State:
    Texas
    When we married, we started saving buffalo nickels. (they were common then) Over the years we'd collected several hundred, lots of old silver dollars, numerous other old coins passed down from our parents. Then several years ago when we lived in TX, some local kids broke into our home while we were on vacation in another state. They took all and cashed them in for face valve at a 7 to 11 store.

    If you have a coin collection, rent a bank safe deposit box, we learn the hard way. We lost interest in collecting coins after that.
     
  5. alands94

    alands94 Active Member

    Messages:
    1,706
    State:
    Lebanon, I
    I have a few old coins that I've picked up over the years, but I'm not really a collector. I have, however, invested in 1 ounce gold American Eagles, Maple Leafs, and Kruggerands. Bought several in the $300-$450 range. Last I checked they were selling at around $900 each. I agree with olefin - rent a safe deposit box.
     
  6. Mickey

    Mickey New Member Supporting Member

    Messages:
    14,592
    State:
    Illinois
    I have collected different coins for many years. I have done this to pass on to my grandchildren, when I'm gone. It's amazing to see the upward value change that has taken place. I agree that safety deposit boxes is a must.
     
  7. jeremiad

    jeremiad Well-Known Member

    Messages:
    2,207
    Name:
    Unspecified
    I also collect a few coins, and am a member of the American Numismatic Association.

    However, the field of coins is so extensive that specializing is quite necessary.

    In addition to the safe deposit box, find a good dealer in your area and show him/her what you have. They can tell you if you have something worth grading and encapsulating; then they can submit your coins for grading for you.

    Critical point: handle your coins very carefully! A single scratch on a coin can literally lower its value by hundreds of dollars (and even thousands). Even coins that look quite tarnished can bring a high return if handled carefully.
     
  8. catfishcrazy256

    catfishcrazy256 New Member

    Messages:
    2,648
    State:
    Indiana
    Not a collector just mess with it a little , P.S. DAYTON Sorry to hear what happened to your coins
     
  9. flathead willie

    flathead willie Well-Known Member

    Messages:
    3,241
    State:
    Virginia
    I collect mostly foreign money but I just got back from the bank where they had the new James Monroe gold dollars for sale. I bought some of them to give to the grandkids.