What to do with an old coin collection?
September 8, 2006 6:14 PM Subscribe
Should I sell my COIN COLLECTION, and how would I go about it?
posted by anonymous to Work & Money (8 answers total)
I have a large collection of old American coins. I'd purchased many as a kid, but the majority of them that hold any significant value are a large number of silver Morgan Dollars and Peace Dollars that I'd found in a cigar box after my grandmother died in 1989. My question is in two parts....
(1) Should I sell the coin collection? With interest rates at, say, ING Direct, now at 4.25%, and with other invesements types out there too (like mutual funds), it seems to me that I could make better money those ways instead. The value of old coins don't go up more than 4% annually, do they?
(2) How would I go about selling them? Not only do I not have the expertise, but I have so many of those silver dollars too that it'd be much too time-consuming for me to look up and estimate each one's value myself. But, if I take them to a dealer, how I do I know if he or she will be suggesting the proper price for each piece? I don't want to get conned, of course. What would you recommend?