Re: Appraising Grandfather's Collection
Remember that all dealers (even CAND dealers) are not created equal. As mentioned above, try to get a number of bids, and I would not recommend leaving the collection while this was taking place. Ask your grandfather if he has any records of his purchases. If he does, go over this in detail. You should be able to determine from this which coins have the most potential. If he didn't keep complete records, this will be more of a challenge.
While I would like to say, all dealers will give you a fair bid for your collection, this is not necessarily true. Your grandfather may be surprisingly knowledgeable about what he has, and if his mind is still sharp, he can help you with the disposition. The disposal may take months to realize it's best potential. You may decide to consign his coins to a public auction.
Take a close look at what he has. If it is primarily mint product (special sets ordered directly from the mint) it is likely you will not be able to recoup even your grandfather's initial investment. Modern mint issues often loose money almost immediately on leaving the doors of the mint. However there are some products out there which will buck this trend. Gold for instance, will be worth at least bullion value, and gold has gone up significantly in the past few years. Earlier products, such as proof like sets from the 1950s should do quite well (the earlier the better - typically).
If he collected more vintage coins, you may do quite well. That will be dependent upon your grandfather's eye for quality. If he purchased coins which are certified by a third party (such as ICCS, CCCS, PCGS, NGC and the like) you should have an easier time accurately determining the value of these individual pieces.
Above all, look for records. Secondly, don't be in a hurry to disperse a collection which may have taken years to accumulate. Good luck. Feel free to ask further questions here as you proceed.
CCRS member since: 4/2/2003
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Appraising Grandfather's Collection (cauzway, 3/17/2012) Re: Appraising Grandfather's Collection (rscoins, 3/22/2012) Re: Appraising Grandfather's Collection (Brian R. Smith, 3/23/2012) Re: Appraising Grandfather's Collection (G.D., 3/23/2012) Re: Appraising Grandfather's Collection (jmc, 3/25/2012) Re: Appraising Grandfather's Collection (G.D., 3/26/2012) Re: Appraising Grandfather's Collection (Terry T, 3/30/2012) Re: Appraising Grandfather's Collection (Dick, 4/10/2012)
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