DawgTalkers.net Forums DawgTalk Everything Else... Coin help

An acquaintance of mine is terminally ill, and not in a good place mentally. He has been collecting coins his entire adult life, and has entrusted his entire collection to me. He has a son who I will eventually give them to. The problem is, these coins are not very organized at all. There are albums, lock boxes, containers full of coins in sleeves, some gold powder and an enormous amount of loose coins. He said the value of the collection is "probably 40-50 thousand". I do not know a thing about coins or collecting, and I don't want to get ripped off getting them evaluated and appraised. I do not know where to begin, other than taking months to log and identify every coin. I purchased one of those 30gallon tool boxes on wheels, and I could not fit the entire collection in there. There are very old coins, silver coins, a few of what look like gold coins. He was not a very organized person even when doing well, and many of these coins were scattered throughout his house. I don't want to just dump these coins on his son, he's in his twenties and not the most stable as he's dealing with his dad's illness. Any guidance or advice would be much appreciated.

Are they all US currency? If not, that makes things a bit more complex/arduous.


First, my understanding is that you do NOT want to put these through a mechanical sorter.

Obviously, many hands make light work. If you have a friend or a trusted individual that has some knowledge of coin collecting (and specifically the coins you have, like US currency) try to enlist their help. Maybe you can work out a deal where they can hang onto some low or mid value stuff.


As far as approach, what I would do is first try to target and sort for the very high value stuff. There are specific coins in specific years (and/or specific defects/errors) that make for EXTREMELY valuable coins. If this collection is as big as you describe, there's a good chance some of these are in there... and once you pick those out you're probably going to have the majority of the $$$ value of your collection. To help with this, you can pre-sort into broad categories (metal, size/denomination).

Pick out old bills, gold and silver coins. look into them first.

You ever use chatgpt. Maybe lay out a bunch of quarters a 10 across 10 down in a square. Take a picture of them. Up load it to chatgpt. Ask if any have collectors value other than face value.

Lots of work involved, especially for someone new to coin collecting. Lots of variables in determining worth. If this is like most piles of coins, penny's dominate. Do those last and unfortunately those will take the most time. Also, start with US coinage. It will be easier to find information.

As an example, with the penny, each is struck at a different mint. That makes a big difference in value as does year and special markings. A 1909 S with a VDB on the bottom of the face might be worth $10,000 depending on it's grade. Grades are like grades on baseball cards.

Don't worry about what he says he thinks the value might be. Most people vastly overvalue their collection, but sometimes not, and even rarer undervalue what they hold. Plus, to be honest if sounds like he was a coin hoarder over being a collector. Collectors don't just throw their crap in to a pile then hand it over to the neighbor to sort things out.

The first thing I would do is to ask your buddy what coins he thinks he has that have the most value. If he has some double struck coin, I am sure he wouldn't just toss it in to a garbage can of coins he kept in his closet. Write down what he thinks he has and take the list to your next move.

My next move would be to go to a near by coin shop and ask the dealer for advice...you will probably be told to sort by denomination and sort by silver content of the coin or the penny by if it has the wheat stamp on the back. You will also be able to see the various coins that he has on display so it will be easier to identify if you do run across any of the rarer types. Coin shops are rarer and rarer. You might have to travel a bit to find a decent one.

Then start sorting by stamp marking. Colonial pennies are larger, and he probably doesn't have any. You might find some Indian Heads and a lot of wheat stamp pennies. Dimes are FDR and Mercury heads. Buffalo nickels and Jefferson heads. Some others have been issued, but long ago and he probably doesn't have any. Quarters have had a lot of variations, but the same Washington since maybe 1934 except for the silver content. He may have some standing Liberties.

Good luck. Look at the bright side, he could have been collecting stamps by the thousands. That is a whole new nightmare.

Yes, I did collect coins as a kid/young adult. I still look at the change in my pocket, just in case. It just hit me, half dollars. You can figure that one out yourself. LOL

This seems like a logical approach....


Rule #1: The Golden Don'ts

Before your friend even touches a coin, they must swear by these two rules:

NEVER clean the coins: This is the ultimate sin in coin collecting. Even using a soft cloth, soap, or water can microscopic-scratch the surface, stripping away the natural patina ("toning"). Cleaning a rare coin can instantly erase 50% to 90% of its numismatic value. Buyers want them exactly as they are.

Don't rush to a dealer: Walking into a coin shop with a massive bucket of unorganized coins is an invitation to get overwhelmed or lowballed. They need to know what they have before they try to sell. [1, 2]



Step 1: The "Macro" Sort (Don't Look at Dates Yet)

Trying to look up every single coin one-by-one right away will cause immediate burnout. Tell them to grab some plastic bins or cups and sort the mountain into broad, obvious categories first: [1]

The Obvious "Sets": Put aside anything already in cardboard folders, plastic cases, or velvet boxes (like proof sets or mint sets).

Gold and Silver Bullion: Separate anything that looks like pure gold or silver bullion bars/rounds.

By Denomination: Dump the loose coins into piles of Pennies, Nickels, Dimes, Quarters, Half Dollars, and Dollars.

Foreign/Strange Coins: Group any non-US currency or tokens into their own pile. [1]



Step 2: Filter Out the "Bulk Silver" and Spenders

Once sorted by denomination, your friend can drastically shrink the size of the collection by pulling out the coins that are valued primarily for their metal: [1]

The 1964 Rule (90% Silver): In the US, any Dime, Quarter, or Half Dollar minted in 1964 or earlier is 90% silver. They don't need to look up individual dates for these yet; they are automatically worth a baseline "melt value" tied to the daily price of silver.

Kennedy Half Dollars (40% Silver): Kennedy halves from 1965 to 1970 contain 40% silver.

Modern Face-Value Coins: Any regular pocket change from 1965 to the present (dimes, quarters, nickels) can be set aside. Unless they look spectacularly shiny and uncirculated, they are likely just worth face value and can eventually be deposited at a bank. [1]



Step 3: Hunt for the "Real" Collectibles

Now that the mountain is reduced to older or unique coins, it's time to identify the pieces that carry "numismatic" (collector) value. They should look for: [1]

Older Designs: Indian Head or Wheat pennies, Buffalo nickels, Mercury dimes, and Morgan or Peace silver dollars.

The "Red Book": Tell them to spend about $15 to $20 on a copy of "A Guide Book of United States Coins" (universally known as the Red Book). It is the ultimate coin bible. It lists every US coin ever made, highlights "key dates" (rare years/mint marks), and provides a rough retail value baseline.

Use Mobile Apps: To speed things up, they can download free apps like CoinSnap or PCGS CoinFacts. They can take a photo of a coin with their phone, and the app will instantly identify the type, mint mark location, and history. [1]



Step 4: Catalog and Store Logically

As they identify items of interest, they should log them simply. A basic spreadsheet (Excel or Google Sheets) is perfect. [1]

What to track: Year, Mint Mark (the tiny letter like 'S', 'D', or 'O' near the date or on the back), Denomination, and any special notes (e.g., "In plastic case").

Safe Storage: For loose coins that seem valuable, buy a pack of 2x2 cardboard coin flips or plastic capsules. Avoid storing them in generic plastic sandwich bags or old PVC containers, as the chemicals can degrade the metal over time. [1]



Step 5: Decide on the End Game

Once they have a basic spreadsheet inventory, they can make a clear-headed decision about what to do next: [1]

If they want to sell: They should take their spreadsheet to 2 or 3 local coin shops vetted by good reviews to get offers. Expect dealers to offer roughly 70% to 75% of the retail value listed in price guides, as the dealer needs room to make a profit. For incredibly rare single coins, they may want to look into professional grading services like PCGS or NGC before selling.

If they want to keep it: They can pick a small, interesting subset of the collection to learn about and keep as a family heirloom, securely stored in a climate-controlled safe or safety deposit box. [1, 2, 3]

Any numismatic message boards?

Yes, online coin collecting communities are incredibly active, and posting photos there is one of the absolute best ways for your friend to get free, expert eyes on the collection.
Numismatists love a good treasure hunt and will happily help identify rare dates, errors, or tell your friend if a coin is worth more than its face value.
The most respected, beginner-friendly numismatic message boards include:

1. The Big General Forums (Best for Uploading Photos)

• Coin Talk:One of the largest and most active coin forums on the internet. They actually have a dedicated sub-forum explicitly named "What's it Worth" where beginners can upload pictures of mysterious or potentially valuable coins to get quick feedback from seasoned collectors.
• Coin Community Forum:An incredibly welcoming and educational site designed for collectors of all levels. It has massive, highly organized sub-boards for US coins, error coins, coin roll hunting, and international currency.

2. Major Grading Service Forums (Best for U.S. Coins & High-Value Items)

• Collectors Universe / PCGS Message Boards: Run by the parent company of PCGS (the gold standard in professional coin grading). This board is filled with highly advanced collectors, professional dealers, and market experts. It is a fantastic place to post something if you suspect it is genuinely rare or highly valuable.
• NGC Chat Boards: Run by NGC (the other major grading powerhouse), they feature a specific "Newbie Coin Collecting Questions" forum. It is heavily moderated, polite, and specifically tailored for people who just inherited a collection and have basic questions about grading, pricing, or shipping.


💡 Quick Tips Before Your Friend Posts:

To get the most accurate answers from these communities, tell your friend to follow a few simple rules of etiquette:
1. One coin per thread: Don't dump a photo of 50 loose coins in a pile and ask "what's this worth?" Post clear, cropped, well-lit photos of just one coin (front and back) per post.
2. Turn off the flash: Harsh glare makes it impossible to see the coin's surface or mint mark. Natural morning window light or a desk lamp angled slightly from the side works best.
3. Mention the weight or size if it's odd: For strange foreign coins or potential error coins, collectors will almost always ask for the exact weight in grams if your friend has a small food scale.
If your friend decides to start with an online community, let me know if they need any help figuring out how to identify a mint mark or what specific details to photograph first to get the best responses from the forum members.


Other resources: https://www.money.org/helpful-websites/