Featured How much does it cost to have coins valued?

Discussion in 'Silver' started by Bev aka thelmasstuff, Mar 19, 2025.

  1. Bev aka thelmasstuff

    Bev aka thelmasstuff Colored pencil artist extraordinaire ;)

    After I saw mmarco's post I wondered about our coins. We've never had them valued. I was in the safe deposit box the other day to get out some paperwork and snapped a photo of some of the coins. Should we send them out for valuation?

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  2. daveydempsey

    daveydempsey Moderator Moderator

    If you send them off to one of the top 3 grading companies they will slab them and allocate a grade, they won't value them and it will cost you.

    If you photograph both sides of each coin so that the mint mark can be seen, I can give you a rough idea of value, catalogue value is only a guide.
     
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  3. daveydempsey

    daveydempsey Moderator Moderator

    If you Google This "How much does it cost to submit a coin for grading" it should show all the top graders and their prices plus S&H

    I have never sent a coin in for grading, it seems to be more of a US thing, the rest of the world don't bother.:D
     
  4. mirana

    mirana Well-Known Member

    Ugh slabbing/grading is such a racket. I do understand why some buyers like the system and some owners want the protection. It's sort of like getting an authentication. But man it is expensive. It's really flourished in comics and trading cards and moved on to toys. I guess it feels wrong to me to charge people to put kids things in plastic lol.
     
  5. daveydempsey

    daveydempsey Moderator Moderator

    You have to remember the US Morgan Dollar is one of the highest counterfeited coins in the world.

    They need examining, many coin collectors are able to do this themselves, but many US collectors send them in for grading and slabbing.

    It's the biggest con since gullible warming.

    Then there is CAC stickers, (Coin Grading & Certification) this is another grading that confirms the first is correct.:D

    The Chinese coin forgers (it's an industry) realise this, so now they are producing counterfeit slabs and holograms with the fake coin inside.
     
  6. mirana

    mirana Well-Known Member

    Gotta love human ingenuity. :hilarious:
     
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  7. daveydempsey

    daveydempsey Moderator Moderator

    Here's a few of my Morgan and Peace Dollars.

    Two are fake.

    I did not buy them as real, they were in a job lot of around 10,000 coins I purchased from a deceased collector's estate.

    To the naked eye, it's impossible to pick out the fakes.

    The first thing I do to discover a fake is the magnet test.
    A Morgan or Peace are 90% silver, they won't stick to a magnet.

    Second thing is I use a Rare Earth Magnet.
    90% silver should slightly adhere to a REM.

    Third thing is weight
    They weigh 26.73 grams, never more, but due to wear can weigh slightly less.

    20250319_131506.jpg
     
  8. bosko69

    bosko69 Well-Known Member

    Recently all the top prices paid on Ebay now are generally slabbed-but w/ the counterfeits from the creative Chinese might that change ? They're extraordinarily clever and enterprising-Capitalism on steroids,what a work ethic !
     
  9. verybrad

    verybrad Well-Known Member

    I too have a hoard of old dollars and halfs. I expect most are not worth grading but a few probably are. These were mostly inherited and collected long ago so there is little chance of fakes. I need to get motivated to have a look.
     
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  10. daveydempsey

    daveydempsey Moderator Moderator

    In the US.
    If you are selling coins on eBay.com(US) you can't put a grade in the title unless the coin has been graded by one of the three approved graders in the US.
    Anywhere else in the world, we can put any grade we wish in the title, and it doesn't have to be graded or slabbed.

    The Grading companies also give a population figure of how many of a certain coin is left, but that is false because it only involves the coins they have graded in the US, they don't know what coins I have, or the millions of other numismatists in the rest of the world.

    I have around 400-500 US coins in collectable grade, non were bought on eBay and non have been put in plastic coffins :D
     
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  11. Bev aka thelmasstuff

    Bev aka thelmasstuff Colored pencil artist extraordinaire ;)

    They've been in the safe deposit box for over 40 years and the bank is remodeling so we won't be able to go back in and photograph them for awhile now. That's why I was in there grabbing some important papers before they closed it down. Supposedly, we'll be able to get into our boxes if we make an appointment. The bank itself has taken over a building down the street that used to be a hardware store.
     
    daveydempsey likes this.
  12. bosko69

    bosko69 Well-Known Member

    Davey-You're an experienced pro on this subject,so what is the best way to get top/top dollar for your coins ?
    You've got the experienced expert eye,the rest of Us are visually impaired (close to blind) when it comes to Grading.
    PS-It sounds like there's so many cons,grifts and crooks out there from the corner coin shop to the international market-it can paralyze a cautious amateur seller.
     
    Last edited: Mar 19, 2025
  13. daveydempsey

    daveydempsey Moderator Moderator

    Buy the Red Book.
    A Guide Book of United States Coins 2026: Official Red Book
    It's around $16 for a hardback on eBay or Amazon.
    You will only have to buy one and can resell it when you have finished.

    For each coin ever struck in the USA it has an explanation of the composition, weight and where to find the mint marks and what to look for in the grade, like high points that wear away and if the word Liberty can be fully seen.

    You can soon pick up a rough idea of the grade, then go down the list of the dates and mint marks, and it will give you a guide price.

    If you work on the fact, the coin is probably worth 50% of the guide price.

    So if you have a $1 silver coin and the guide book says it's worth $100 list it on eBay without putting a grade in the title and start the auction at $50.

    If you get lots of bids then it's a win-win.

    If it sells for $50 then that is its value

    If it gets no bids, then reduce the asking price to $40 and relist it.

    I've not sold many coins on eBay of late, as I have too much other stuff I need to get rid of.
    Cigarette Cards
    Banknotes
    War Medals
    Tokens

    My coins will be my retirement/hobby sales, for about 10 years

    In some instances I have the confidence to list them at the minimum £0.99 as I know what I have, and I know they will sell well.

    If you get stuck, you can always ask on here or CoinTalk for free advice rather than paying a grading company
     
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  14. daveydempsey

    daveydempsey Moderator Moderator

    Here is my Red Book, the details don't change, maybe the price guide slightly.

    20250319_213135~2.jpg

    20250319_213200~2.jpg


    Here are some more books on banknotes and tokens just for the US side of my collection.

    20250319_213215~2.jpg

    20250319_213228~2.jpg


    20250319_213328~2.jpg


    20250319_213343~2.jpg
     
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  15. daveydempsey

    daveydempsey Moderator Moderator

    I might add you could get the price of your Red Book purchase back on the sale of your first coin.
    If you got the coins for free or very cheap, then it's all profit :cool:
     
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  16. Roaring20s

    Roaring20s Well-Known Member

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  17. bosko69

    bosko69 Well-Known Member

    Awesome Davey-'The Red Book' it is ! Thanks.
    This 'rule of thumb sections' very helpful-
    "So if you have a $1 silver coin and the guide book says it's worth $100 list it on eBay without putting a grade in the title and start the auction at $50." and so on.
    Is there one favorite site you'd recommend for photographing coins or simply treat them as you would a gem quality ring pic setup ?
     
    verybrad likes this.
  18. mmarco102

    mmarco102 Well-Known Member

    continuing from my previous post as you asked, while there are several apps out there I chooses “Coinsnap”, just take a picture front and back and it will I’d and give you an average value. It can make a mistake but rarely. While it is free you get better tools to pay, and you can choose to do it just one month if you like. This is how I found my 1983S. I knew nothing prior about it.

    additionally to all, $14 per coin was my cost, PCGS and NGC run higher and make you join at an annual fee. To get the $14 rate though you must submit 10 coins.

    so I spent time on the app and fount the ten I wanted. :)
     
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  19. Tiquer

    Tiquer Well-Known Member

    Love seeing fellow coin collectors.

    I inherited a fake Morgan, relative had no clue that it was fake. It even matches expected weight!
     
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  20. mmarco102

    mmarco102 Well-Known Member

    I literally have thousands of coins from all over the world. If you have an old coin, google “key dates” for it i.e. ‘1902-D Indian Head penny key dates’ these are often the most sort after and the mint is low. Additionally and coin that has a mint error is often most value, but not PMD(Post Mint Damage). A coin with no mint mark is Philadelphia(not and error)

    If you find a key date coin or one in very good condition protect it. Don’t leave ‘em banging against each other.
     
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