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Topic: Inherited grandfathers coins, wondering if they have any worth  (Read 10868 times)
thunderstruck67
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Hello,

I recently inherited a number of coins that my grandfather had stashed away for a number of years.  I've done a basic inventory of most of the individual coins that he had and was wondering if it was worth spending time/money to get them graded/try to find a buyer if they're not worth more than face value.

There are Canadian Silver Dollars from 1957 to 1969 (missing 1967), 50 Cent Coins from 1919, 1920, 1941-1974 (missing a couple of years in that range), and approximately 1000 of each of quarters, dimes and nickels (from various years 1920-1970).  A couple of dollar bills (1954, 1967 and one 1867-1967 commemorative), two dollar bills (1954) along with a few American dollar bills (1963,1969) and American five dollar bills (1969).

There are a few larger sized pennies, some quarters from before the caribou was put on the front, and some nickels with the V on the front.

He also had some foreign coins, the most notable that I can tell is a 1940 German 50 Reichspfennig.

So basically I'd like to know, is there any value in what I have beyond taking it to a bank and turning it in for face value?  I did some ebay searching and people seem to be selling the dollars and half dollars for 10-20+ each.  I tried looking at the catalogues online but without grading it's hard to tell what I'm looking at.  The dollars seem to be in good shape (most were kept in cardboard/plastic display type cases or envelopes.  Is it worth the time to try and sell these things?  Is it worth going through a thousand quarters to look for something unique or should I just roll them up and take them to the bank?

I know the silver value in some of the coins is decent but I believe it is illegal to destroy legal tender.

Thanks for any advice you can give me,

Chris
alvin5454
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« Reply #1 on: March 15, 2013, 02:30:56 pm »

For one, do not simply take the silver coins to the bank. You have substantial silver value. At today's price you will generate about $15 to $16 per dollar face value. A bank will give you $1 per $1.
Do not worry about destroying the coins.
It sounds like most of the coins will be circulated and worth only silver value.
Take them to a coin dealer woth a long history of doing business.
If you live in Vancouver, the best price will be received from J&M; in other centres, check around before selling but a coin dealer will likely give you the best price.
A reputable coin dealer will also help you with evaluating coins that are of numismatic value, more that silver value.
mmars
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« Reply #2 on: March 15, 2013, 07:46:47 pm »

Illegal to destroy legal tender?  I should think not.  What do you think the Mint is going to do with all those pennies?  Pretty much any coin where the intrinsic value has outstripped the face value is going to end up in a melting pot.

    No hay banda  
Dean
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« Reply #3 on: May 18, 2013, 12:17:15 pm »

Illegal to destroy legal tender?  I should think not.  What do you think the Mint is going to do with all those pennies?  Pretty much any coin where the intrinsic value has outstripped the face value is going to end up in a melting pot.

I think that it is illegal for private citizens to deface legal tender.  The Mint can do whatever it wants because it is a branch of the government.

mmars
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« Reply #4 on: May 18, 2013, 04:54:27 pm »

I think that it is illegal for private citizens to deface legal tender.  The Mint can do whatever it wants because it is a branch of the government.
And let me guess, the guvernmint owns us and owns the money in our pockets, so they can tell us what we can and can't do with out money, right?  If that's the case, any day, the Bank of Canada can walk into your home and claim your paper money collection as its own.  If there are any collectors out there that truly believe this, quick, sell your collection to me for safekeeping.  ;D

    No hay banda  
Dean
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« Reply #5 on: May 18, 2013, 08:59:36 pm »

Just a little of my cynicism coming through here...  :)

friedsquid
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« Reply #6 on: May 18, 2013, 10:11:32 pm »

Quote
I believe it is illegal to destroy legal tender

If it was a crime to deface Canadian Paper Money many brickers and other collectors would be in jail by now.  I know of atleast a dozen or more forum members alone that deface currency on a regular basis....marking, writing on, stamping, slitting, cutting, etc... and you all know who you are  ;)
« Last Edit: May 19, 2013, 09:11:16 am by friedsquid »



Always looking for #1 serial number notes in any denomination/any series
walktothewater
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« Reply #7 on: May 19, 2013, 10:20:27 am »

Quote
know of atleast a dozen or more forum members alone that deface currency on a regular basis....marking, writing on, stamping,...

...not to mention the "Where's Willy?" crowd.... ::)

 

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