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Now I've mentioned before that I work in a financial institution which makes it easy to get penny bags for sorting. Through sorting I've gotten into hunting for silver halves and even the tellers have brought me a few silver coins here and there. Today a woman came to the branch with a large purse sized bag full of her deceased husband's coin collection and asked one of our service reps to refer her someone to help her with value so she's not taken advantage of when she sells. They naturally referred her to me because of my modest collection.

I start looking through and finding everything from indian heads as far back as 1859, merc dimes, quarters, dollars, you name it. Anyway, here's the thing. She has a few pages inventorying everything and I offered to do some research and I'd make her a fair offer. I was sure to set her expectation that she would not be getting full value for anything but I would not take advantage of her situation. Granted her husband died 14 years ago and these have been sitting around for that long.

Help!

What's a good resource for values? I have a copy of The Red Book but the values in there seem high. I've used coinflation.com for coins that I could but many are older than they calculate values. Once I have a value what do you feel is a fair offer in this situation? My goal is to be fair yet get a good deal. Win-win...

This would be the first time I'd pay more than face value for a coin so I'm a little nervous.

depending on how many, I think the best idea of retail value is ebay completed sales, else, find a grey sheet.
even picking up coins magazine will help you figure out which ones need further research and which are bullion

Offer the APMEX buy price for the silver bullion, totalling the face value without examining any dates. Tell her you really aren't interested in any of the other items, but if she'd like to throw out a price (once you tell her the face value) you would consider it. If it's too high, walk away. If it's reasonable, then take it. If, in your opinion it's too low, then offer to throw in another $20 or so and you'll both be pleased.

The link below is a good resource too. I think that the advise above from FB and Beau is good.

http://www.numismedia.com/fmv/fmv.shtml

i think the apmex buy price is a good reference.

of course, they only buy the more liquid items, and frankly if they are not buying it then its probably not worth your time either. of course there are folk here who will buy collectible but illiquid coins but its a hassle and imho a poor investment.

NHsorter wrote:The link below is a good resource too. I think that the advise above from FB and Beau is good.

http://www.numismedia.com/fmv/fmv.shtml

+1 to this...

IMO numismedia is the most accurate and most easily accessible resource to determine fair coin values. You don't need to be an expert grader either, with a little knowledge you can tell the approximate grade and choose the more modest value to add to your total calculations.

Be careful using numismedia for common lower grade (under XF especially) stuff as:

#1: It is WILDLY inaccurate

#2: The market has a HUGE buy-sell spread on common circulated stuff. I.e. you might have to pay a dealer $10 but you will be lucky to sell your version for $2.

sorry about being blunt, but how old is she? Does she need quick cash? Does she have the time to carefully research all the coins? If she is reasonably healthy, and financially secure, why not tell her to take up a new hobby? find out what the "family jewels" are worth?

Apmex buy price on the silver, and offer a little above blue book on the rest?

I sincerely appreciate the advice! The numismedia site is much easier to navigate than the Red Book but I agree that some of the common wheats and a few other things seem high. Until I met this woman I had no interest in paying more than face value for coins. An opportunity like this is hard to pass up. Most of what she has listed is fairly common but there are a couple that I'd really love to get my hands on. She knows she has value there. I think she was looking for a convenient place to unload all of it. Money isn't an issue for her and since she's been sitting on it for 14 years I don't think she'd give it away. Besides the fact that she came to where I work I wouldn't be able to sleep at night if I tried to take advantage of her. I want to help her out and If I can get a good deal at the same time I'll be happy. Especially if I can get ahold of that 1877 Indian Head.

In addition to numismedia, I us the following cite:

http://www.coinstudy.com/

usually between the two I can come to an idea of fair value