Any coin collectors out there?

[Buy American]

Does anyone know of a reputable coin dealer in the Wayne/Macomb county area?

[Wingnatic]

Depends on what type of coins you have . gold/rare coins are a different animal . run of the mill coins maybe Shores Coins on Gratiot in Mt. Clemens , never been to Abbott Coins in Birmingham but thats another one . Lots of these coin shops because of the economy are taking coins 1964 and before for the silver . Not sure if your looking to buy or sell , but I've recently been selling off my collection and went to Shores and sold a 2006 through 2009 Mint sets a handful of half dollars from the 1940's , a couple of 1921 silver dollars , a couple of commemorative silver dollars and made $285 . Shores probably won't take any coins after 1968 when the mint started adding alloy's to the silver , and they probably won't buy any slabbed coins . If your looking to buy , from what I saw they have alot of circulated coins from most years . Shores looks like a bait and tackle shop when you first go in [[ a lazy dog laying there , cats running around etc.) but I got a fair price for what I sold .

[Buy American]

Depends on what type of coins you have . gold/rare coins are a different animal . run of the mill coins maybe Shores Coins on Gratiot in Mt. Clemens , never been to Abbott Coins in Birmingham but thats another one . Lots of these coin shops because of the economy are taking coins 1964 and before for the silver . Not sure if your looking to buy or sell , but I've recently been selling off my collection and went to Shores and sold a 2006 through 2009 Mint sets a handful of half dollars from the 1940's , a couple of 1921 silver dollars , a couple of commemorative silver dollars and made $285 . Shores probably won't take any coins after 1968 when the mint started adding alloy's to the silver , and they probably won't buy any slabbed coins . If your looking to buy , from what I saw they have alot of circulated coins from most years . Shores looks like a bait and tackle shop when you first go in [[ a lazy dog laying there , cats running around etc.) but I got a fair price for what I sold .

Thanks, I appreciate the input. We've kind of inherited a huge collection of old coins, silver certificates, silver dollars dating back to the 1800's and I don't know a thing about their value. I would like a reputable place to take them to and not feel like I'm getting scammed.

[EastSider]

For God's sake, take them in for an estimate only. You might just as easily do the estimating on-line, too, and save the gas money. This is the wrong time to be selling precious metals. We're no where near the top in either gold or silver.

For example, silver hit almost $50 an ounce in 1980. Adjusting for inflation, that's about $130 an ounce. It closed Friday at just under $21 an ounce.

[Buy American]

For God's sake, take them in for an estimate only. You might just as easily do the estimating on-line, too, and save the gas money. This is the wrong time to be selling precious metals. We're no where near the top in either gold or silver.

For example, silver hit almost $50 an ounce in 1980. Adjusting for inflation, that's about $130 an ounce. It closed Friday at just under $21 an ounce.

Thanks for the advice.

[Wingnatic]

You may want to slow down and get a good idea what each coins value is . You could go to your local library or even a book store and buy yourself a Redbook
http://coins.about.com/od/coinvalues/fr/redbook.htm

You probably don't have the knowledge to grade the coins , but the Redbook will help you get a pretty good idea . Slabbed coins are coins that have been professionally graded by one of the few companies who grade coins , encapsulated , labeled , barcoded . The Redbook I believe is only coins . A coins value is determined by condition , date , and mint mark , and how many the U.S. Mint produced on any given year , the lower the Mint produced the higher the value on any given year . If you have some old Morgan Silver dollars you may also want to check the mint mark . Ones marked with a O is from New Orleans Mint or a CC which is the Carson City Mint , both no longer exists . The Redbook will help you with all of that . Good luck and I hope you make a boatload of cash !

[Gistok]

Buy American,

A very reputable dealer in Coins and Paper money is Coin Cove on Gratiot, 1 block north of 10 Mile [[west side) in Roseville. They treat their customers fairly.

Now the Red Book [[as has been mentioned) is the best source for determining the value for coins. The one thing I caution you about though is that coin dealers rarely give more that 50 cents on the dollar [[based on book value). This is often the case with many collectibles.

As for holding on to your Silver/Gold coins... that's a crap shoot. No one really knows if the value of gold or silver are going to continue to rise.. they can just as easily drop. One thing that I would advise against right now is buying gold or silver bullion. When the prices are at an all time high for gold... that's NOT the time to buy.

Also be forewarned that some collections such as Roosevelt dimes or Washington quarters are worth little more than bullion value [[for the most part)... unless your collection is in mint condition. But with bullion value so high, you'll get a good return.

Also be prepared to be disappointed in the value of most Morgan [[1878-1921) and Peace [[1921-1935) silver dollars. Although they are so very old, vast quantities survived in bags in mint and near mint condition in US Treasury vaults for many many decades. Many of these will be worth just their bullion value [[which in the current silver market, is still a tidy sum).

[Buy American]

I really appreciate all the great suggestions and advice.

I know absolutely nothing about coins and have been doing a little research on the net. I have some indian head pennies, dimes from the 1800's, silver quarters, mercury head nickels and Morgan silver dollars. I have been squinting so much with my magnifying glass looking for mint marks and dates that I feel half-blind, but I want to inventory everything before taking the collection to anyone for an estimate on what I have.

Thanks again and I'll let you know what happens within the next few days. Any more suggestions or advice will be appreciated.

[Jimaz]

The one thing I caution you about though is that coin dealers rarely give more that 50 cents on the dollar [[based on book value). This is often the case with many collectibles.

Would Ebay be a good or bad place to sell coins? Why?

[oladub]

This link will tell you what the melt value is of your coins for all US coins except for pennies not taking into account any additional numismatic value

http://www.coinflation.com/coins/sil...alculator.html

Like Gistok said, silver is at a high so any pre 1965 US dimes, quarters, half dollars, and dollars are worth at least $15 per dollar of face value at this moment.

[Philbo]

I'd keep my eyes open for the next coin show in this area. There should be a number of dealers that can appraise your coins and give you a good idea of their worth. Condition is a major factor affecting their value. Good luck.