Grandfathers Coin Collection?

[Longleaf]

I had my Grandfather and Great Grandfather's coin collection passed down to me and I'm not sure what to do with it. My parents had it appraised at one point and I plan on getting it reappraised. It consist of 2 of every U.S. mint set from the 60s to the 80s.

I'm all for holding on to my ancestors possessions, I prize the old guns and knives I've inherited. I'm not into coins and wounding if I should turn some of this coin collection in to another heirloom to be passed down. Looking for some insight from anyone that has done something similar.

Thanks

 

[gonhunting247]

Not sure what the right answer is, but old coins are very cool. I bet that is a pretty awesome collection. I have some of my Dad's old coins and I can't see me ever getting rid of them, but I collected coins also.

 

[doc holiday13]

Has "value" but you're probably not going to retire. Your best bet is to find a coin dealer to have an assessed value. Then go to a coin trading show and see if you can trade it away for silver bullion. Do not trade away for Spot pricing. I would accept silver bullion at 80-90% of Spot

 

[GSPHUNTER]

I have many sets like that along with many other individual coins in my collection, including gold coins.coins, Morgan silver dollars, Walking Liberty half dollars, and a lot of silver coins from when coin were actually silver. Everything will be left to my grandkids. Just hang on to them, those ones aren't worth much more than face value.

 

[Amos Keeto]

Yes, have the "collection" assessed.

Here's a point.
Whatever you decide to sell, can not be replaced with the proceeds of the sale.
Coinage will almost "always" appreciate in value!
Coins are not a "short term" investment.

 

[SuperDUECE22]

Just because you are not into coins that doesn't mean that your grandkids or great grandkids won't be. Getting them appraised and selling them just because they are not your thing just seams disrespectful, they took the time & money to keep them so I think you should do the same...... Just my opinion of course !

 

[Longleaf]

Thanks for the replies, if I did replace them it would have to be for something along the lines of a Rolex which I'm not sure the coins are worth that much. Most likely I'll end up holding on to them. At the rate I go through hobbies and interest I may be into coins at some point in my life!

 

[wildwilderness]

Too bad he didn't leave you a collection of Bitcoins instead, then you really could have sold it for a Rolex

 

[timmymac24]

In a similar situation. I have a hard time trusting the people on the buying end. It's a daunting task to try to go through a collection to give yourself an estimate of their value.

 

[thinhorn_AK]

I inhereted a large collection as well, some very neat stuff. I looked into selling it but in reality the money I would get wasn't really worth the effort. I think in the end I would have gotten around a thousand dollars and likely had to break things up to sell individual coins to different sellers. I decided to hold onto it and just enjoy looking at them from time to time.

 

[thinhorn_AK]

I have many sets like that along with many other individual coins in my collection, including gold coins.coins, Morgan silver dollars, Walking Liberty half dollars, and a lot of silver coins from when coin were actually silver. Everything will be left to my grandkids. Just hang on to them, those ones aren't worth much more than face value.

yup, thats what I found when looking into selling the collection I have. In reality there are very few coins out there that are going to get you to an early retirement or a new car. Even the most valuable coins end up sitting in auctions for years before somebody buys them, at that point the fees and stuff for the auctions eats up a large portion of the selling price.

 

[GSPHUNTER]

yup, thats what I found when looking into selling the collection I have. In reality there are very few coins out there that are going to get you to an early retirement or a new car. Even the most valuable coins end up sitting in auctions for years before somebody buys them, at that point the fees and stuff for the auctions eats up a large portion of the selling price.

Gold coins are the way to go. Even those have their draw backs.

 

[digger]

Proof sets are not very valuable. Your coin dealer will have drawers full of them

 

[TSAMP]

I'm in a similar boat. I have 2 chainsaw boxes full of coin sets from my grandfather. Looking them over many were purchased from those late night infomercials and commemorative sets of all kinds of things. I haven't had them appraised either. I wouldn't be shocked if some were worth a few bucks but I doubt I'd get rich from any of it.

Cool thread through.

 

[GSPHUNTER]

I'm in a similar boat. I have 2 chainsaw boxes full of coin sets from my grandfather. Looking them over many were purchased from those late night infomercials and commemorative sets of all kinds of things. I haven't had them appraised either. I wouldn't be shocked if some were worth a few bucks but I doubt I'd get rich from any of it.

Cool thread through.

My father in law did the same thing. Lots of cheap gold plated coins and set like the ones in OP post. pretty much worthless. He did have some gold and silver coins which I sold. I would have kept them but they were part of the estate so they had to go. None of the other family members had any use for the sets, so I still have some of them. Again I'll leave them to the grandkids. They will take them out of the packaging and spend them.

 

[gbflyer]

My father in law did the same thing. Lots of cheap gold plated coins and set like the ones in OP post. pretty much worthless. He did have some gold and silver coins which I sold. I would have kept them but they were part of the estate so they had to go. None of the other family members had any use for the sets, so I still have some of them. Again I'll leave them to the grandkids. They will take them out of the packaging and spend them.

X3. Father in law. Getting ready to go through the “as seen on TV” collection. lol. I guess it gave him some joy, God knows he needed some living with that old hag.

 

[WCB]

Got the same thing from my grandparents....I basically split my coins in half for each of my daughters (2 and 4). A bunch were literally just spare change (about $300 worth). There were some good coins worth any where from $3-$100. And a bunch of gold and silver coins. I'd say in all $13-$1400 per kid. All the good stuff went into the safe in two different bags...one for each girl. The random change got cashed and put into accounts for them.

I no way were either of my grandparents "coin collectors"....My grandpa just new enough about enough to pay attention for things like that and the note for each grandkid that got coins specifically said basically...not sure what they are worth and don't care they are yours to do what you want.

 

[Rich M]

I say save em for your kids or grand kids. Be neat to have stuff passed down for generations.

As someone said they are basically worth face value.

 

[Laramie]

Meh, I think people place too much value in passed down objects. After a generation or two, they/you will be forgotten, or at minimum barely thought about. Sell them and take the kids on a trip that will make memories.

I think people pass things down in hopes they will be remembered. I personally feel your actions will be more memorable than anything so I focus on giving my family my time and by trying to make a positive difference in our spiraling world.

One of the things I wish I had more of is photos of my dad, grandfather etc.. with short stories written on the back. Those are cool to look at and reminisce about.

 

[tdhanses]

Meh, I think people place too much value in passed down objects. After a generation or two, they/you will be forgotten, or at minimum barely thought about. Sell them and take the kids on a trip that will make memories.

I think people pass things down in hopes they will be remembered. I personally feel your actions will be more memorable than anything so I focus on giving my family my time and by trying to make a positive difference in our spiraling world.

One of the things I wish I had more of is photos of my dad, grandfather etc.. with short stories written on the back. Those are cool to look at and reminisce about.

What if they are only worth $100 in total value?