Decreasing My Monthly Bills

Although I’m not a spendthrift, I feel as if I never have enough money in my bank account. Because I’m setting aside cash in order to buy a new home, I’m always searching for ways to decrease my monthly expenses. Fortunately, through my research, I’ve found some great, simple tips that provide substantial savings over time. For instance, I turn off my HVAC unit whenever I’m traveling. I also conserve gasoline by running all of my errands for the week on the same day. On this blog, I hope you will discover some easy, painless ways to lower your regular monthly bills. Enjoy!

Is Your Coin Collection Worth A Fortune?

Finance & Money Blog

Do you have a coin collection that you do not know the value of? Perhaps you inherited a collection from a parent or other relative, or you stumbled on one in your attic or basement. Countless rare and valuable coins find their way into the hands of non-collectors every day, and one of the most difficult things for a novice to do is determine whether their collection is actually worth real money. It can be especially stressful if you have no experience with coins at all, as it is easy to feel overwhelmed by highly experienced dealers who want to buy your collection for the lowest price possible.

If you find yourself in this position, consider these tips to confidently determine if your coin collection might be worth some serious cash.

Trust Friends and Relatives First

This may seem obvious, but it is advice that is often overlooked. You may not think that any of your friends or relatives are avid coin collectors, but people are not always vocal about their hobbies. Ask around, and you may find that you know an expert or that someone close to you has a friend or family member familiar with coin collecting. Talking with someone that you are comfortable with about your find can be a great, low-stress way to determine if it's worth putting additional research into appraising your collection.

Determine How the Collection Has Been Stored

Are all of the coins in the collection bundled up in a huge bag or jar or have they been carefully sorted and stored in binders or cases? How the collection has been stored is a good way to get a feel for what the original collector's assessment of the collection's value. Of course, collections often have special sentimental value to their owners, so a well-cared for collection is not necessarily valuable. Still, a well-organized collection likely has at least a few coins of numismatic value in it, and it is worth investigating further.

One thing worth looking out for, however, are large, disorganized collections of 1964 and earlier coins. Many of these early coins are 90% silver, and they are routinely bought in junk silver lots. If you discover a collection of coins like this, it is unlikely that they were being saved for their numismatic value, but rather that the original collector was using them as an investment in precious metals. This isn't necessarily a bad find, as these coins are (almost) worth their weight in silver.

Seek Out a Reputable Dealer

It can be tempting to bring a large load of mystery coins to a local pawnshop, but if you have determined that your collection might have real value, then it will pay to seek out a dealer that works specifically with coins. If you managed to find someone trusted who collects coins, now is the time to start gathering recommendations for local shops. If not, the Professional Numismatists Guild (PNG) maintains a list of member dealers. This is a great place to start if you do not have any personal recommendations to work with.

For more information, contact a company like Harlan J. Berk, LTD.


23 March 2019