PO Box 1993, Bloomington, IL 61702-1993
309 662-0159

At least once a day we are asked the value of inherited coins. This is a very complex question. Before we can give an answer, we must explain a few facts about people who collected coins.

First, let's cover the art of collecting. People have their own method of collecting. One example is by date and mintmark. This is one of the most common methods of collecting coins. The collector tries to find a coin for every year and from every mint that struck coins that year.

This in itself can be very time consuming, but some add a little twist. Some like to collect only certain grade coins, while others complicate it even more. They not only want all the coins to be the same grade, but also the same luster or shine. These collectors might be trying to find a common coin, but they are not happy with what they see. This collector might spend months looking for the exact coin.

The coin they pick is not of any more value than the coins they pass up, but they did not match their set. The word set is very important to understand this type of collector. A matched set collector might spend months looking for one coin. It is the hunt this type of collector enjoys. The collector gets high on the thrill of finding the perfect coin for their set. They might spend six months trying to find a $12 coin. But this $12 coin is very important to him.

The hunt will always be remembered. He will relate the story over and over. The set is kept under lock and key, maybe even in a safety deposit box at the bank. His set is priceless to him, priceless in wars fought and the victory of finding the perfect coin.

He takes the set to coin shows and to club meetings. Why? It only takes another collector 60 seconds to examine the coin completely. Now you are starting to understand.

That is correct, so he can tell the story behind finding the coin!

Now let's take that same coin and place it in the dealers shop or on his table at a coin show. How many collectors will pass up the coin because….it does not match his set.

This is not to say that collectors cannot have a valuable coin. Just remember, the dealer is buying the coin to resell, not to put in his collection. The person selling the coin wants the value of the coin, but the dealer must wait to get the return on his investment.

Now you are ready to ask about the value of the coins you inherited.