Liquidating A Collection

[JDMonger]

I am new to coin collecting and looking for some assistance, I have a friend who has asked me to help sell his coins and various paper currencies. To eat an elephant one must take the first bite. For me that first bite is the nickels. I have 156 Indian Heads, 4 shields, 12 liberty heads, 84 war and 232 others. Some are well worn while others seem pristine. Any guidance on how best to sell this collection would be appreciated. Thank you in advance for your time.

[Brian Hagler]

Best bet would finding a Local Coin Shop and have them give you an appraisal.
Pawn Shops will rip you off, in my opinion.

[JDMonger]

Brian, thanks for the tip. I have 5 of the Whitman blue tri-fold collections that are completely filled and just wanted to check to see if there are any specific coins I should be on the look out for.

[Kenzo]

I'm kind of in the same boat helping someone but not liquidating.

Get a Red Book, watch a lot of Daniel's excellent videos (and others). Learn about all of the resources online. Learn what you have and their value. Coin shops can be hit or miss depending on where you live. With so many people interested in buying silver and gold some coin shops are primarily selling bullion and coins have taken a back seat.

Not really into any selling yet but checking Ebay sold and active auctions will start to give you a feel of selling and help you value your coins. I also like the Facebook group, USA COINS AND CURRENCY buy, sell and trade.

You'll need to learn the rules and lingo. How to take good pics (cellphone is fine). Look into payment options, shipping methods, fees and building a reputation.

Cheers,

Kenny

[oldbearjames]

So you’re new to coin collecting and one of the first things you’re doing is liquidating hundreds of coins for a friend? Ouch!
I’d ask myself two questions: do I want to keep this friend and how much time do we have? If you’re taking a bite out of an elephant make sure you get to the meat and not the intestine.
I say this with all sincerity from years of trial and error-still.
If you’re starting with Indian Head aka Buffalo Nickels, and you have the time, emerse yourself in all things Buffalo nickels.
The resources are innumerable. Stay on this forum and get a Red Book.

[JDMonger]

Kenny, thanks for the tip, will be getting a red book tomorrow. OBJ, my analogy of an elephant was regards to the quantity of coins and paper currency. This may not seem like a lot for someone who is a professional but for someone just stepping in for the first time it seemed like a lot. My friend appears to have inherited this over a period of time. His comment to me was, "I have this money and just want to get rid of it." He doesn't have the time to research and get the best value for his collection. Regarding your two questions, yes I want to keep my friend and two, there is no time frame for which everything needs to be sold.

[Worldwide C]

You can also post any coins or notes here that you’re unsure about.

[JDMonger]

WWC, thanks, I'm sure I will.

[Earle42]

Looks like fun to me

[Daniel]

I would seek professional help.

[JDMonger]

Earle, I think it will be fun. I've always enjoyed learning something new and this forum appears to be a great resource. Daniel, I don't have a time frame to complete this endeavor so will hold off hiring a professional at this time. Who knows, I may buy some of the collection myself and begin my journey of numismatics.

[Daniel]

You don’t have to hire anyone. Most coin dealers would appraise the coins for little to nothing, if they charge you at all. Just depends on the dealer.