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Re: new collector

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Posted by Michael Schmidt on January 24, 2008 at 13:33:03:

In Reply to: new collector posted by brett on January 19, 2008 at 23:16:10:

: i am a new collector with some old coins. i have morgan dollars peace dollars, eisenhowers, wheats, etc. what should i do with them as far as care, and cleaning them. what kind of grading service should i use.

JeffK is right about cleaning, best bet is DON'T. If you feel you absolutely must then until you really know what you are doing, just distilled water and don't rub.

I would also suggest checking with your local library to borrow a copy of A Guidebook of United States Coins by R S Yeoman. It will give you a good background history of all US coins some information on how to grade each series, and a ballpark estimate of values. PLEASE read the section in each series about how to grade that series of coins and try to apply them in a conservative manner. (The book Photograde would be better for showing you how to grade but it is not likely that your library will have a copy.) When in doubt assume the coin is a grade lower than you initially think it is. Too many people get their coins and their price guide and go ZIP all the way over to the right hand column for the prices of the top quality coins. Usually on only maybe one in a thousand coins is that justified. From LONG experience I can say that most coins found have values in the left hand side columns.

As for what grading service to use, I would say "none of them", but that is my own personal hangup. As for which you should use the answer is probably that you won't need to or shouldn't use any of them because the coins probably won't justify it. Unless you find that some of your coins are worth $200 or more it would probably be a losing proposition to have them graded. Consider that with shipping, insurance, grading fees, and then shipping and insurance to have them returned you will probably be looking at $30 or more per coin to have them graded. It just isn't worth it to have it done on coins worth less than $100 and even then it is questionable. That's why I said you probably don't need to worry about it unless you have coins worth over $200. If you think you do, then get back with us and we can examine your needs on a case by case basis.

: thanks

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: : i am a new collector with some old coins. i have morgan dollars peace dollars, eisenhowers, wheats, etc. what should i do with them as far as care, and cleaning them. what kind of grading service should i use.

: JeffK is right about cleaning, best bet is DON'T. If you feel you absolutely must then until you really know what you are doing, just distilled water and don't rub.

: I would also suggest checking with your local library to borrow a copy of A Guidebook of United States Coins by R S Yeoman. It will give you a good background history of all US coins some information on how to grade each series, and a ballpark estimate of values. PLEASE read the section in each series about how to grade that series of coins and try to apply them in a conservative manner. (The book Photograde would be better for showing you how to grade but it is not likely that your library will have a copy.) When in doubt assume the coin is a grade lower than you initially think it is. Too many people get their coins and their price guide and go ZIP all the way over to the right hand column for the prices of the top quality coins. Usually on only maybe one in a thousand coins is that justified. From LONG experience I can say that most coins found have values in the left hand side columns.

: As for what grading service to use, I would say "none of them", but that is my own personal hangup. As for which you should use the answer is probably that you won't need to or shouldn't use any of them because the coins probably won't justify it. Unless you find that some of your coins are worth $200 or more it would probably be a losing proposition to have them graded. Consider that with shipping, insurance, grading fees, and then shipping and insurance to have them returned you will probably be looking at $30 or more per coin to have them graded. It just isn't worth it to have it done on coins worth less than $100 and even then it is questionable. That's why I said you probably don't need to worry about it unless you have coins worth over $200. If you think you do, then get back with us and we can examine your needs on a case by case basis.

: : thanks

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