Amazing Collection from My late uncle

[PADFH]

I had an uncle who was a long time coin collector, looks like he started in the late 30's who passed away about 10 years ago. The family had taken his coins(or so I thought) to a dealer and got some money. I was told there were silver dollars, set books and a few gold coins($20,$10,$5) I think. I was disappointed that I hadn't gotten into this earlier. Well, about a month ago my aunt calls me. My aunt (the collector's wife) calls me to tell me they found more coins, a LOT of coins, in the attic and could I take a look at them. Could I?!!?! Be right THERE!! I couldn't believe as they brought out dozens of cigar boxes, trays, books, everything. The first thing I grabbed was small thin box for holding cardboard slabs. I opened it up to see about 100 walkers, dated and slabbed in order. This is gonna be good! I'm still going through it and some has been sold(not the silver). So I thought I might share the find. I'll try to get some pics up soon.

About $50 in rolled pre 1940's wheats. Including 2 rolls of 1909 VBD's(no s's) roll of 1909s, many S and D mints.
Another $20 in UNC wheats, all 40's and 50's, but several UNC steel rolls.
$250 more in rolled memorials, many UNC.

25 Flying eagles, some XF
50 CuNi IH's, 50 pre 1880 IH's and another 10 rolls of 1880-1908 IH's and about 20 1909s

500+ Buffalos, asst dates, no errors, I'm guessing he'd have those pulled out.
500+ V nickels
At least another $200 in rolled Jeffersons, some UNC, probably 15-20 rolls of pre 1960s

Lot's of random bank notes, foreign coins, etc.

Now the silver!
About $250 in rolled rosies!
Another $50 in washingtons
Probably another $100 in slabbed and rolled Halves(including those walkers)
$50 in slabbed merc's(no 1916D, but a beautiful 1921)
$25 or so in slabbed barbers
$50 or so in slabbed barber quarters and standing libertys

He obviously knew what was happening when they changed coinage and probably picked up a lot at face value.

All in all this has been an amazing thrill. I've sold some of the numismatics for the family(they needed some cash) and in the process of selling the rest. For now, they've decided to keep all the silver(my suggestion). I've let them know if they want to sell the silver, I'd like to be the first to make a fair offer. I'm a personal fan of the older coins and the way this collection was meticulously kept and organized makes me really want to keep it in the family. Thanks for letting me share.

[shinnosuke]

Great story. You will do your family (subsequent generations) a service by keeping it in the family.

[fasteddy]

Thats real nice...how exciting. I am waiting on someone to call me about a coin collection like that...in my fam it will be a while maybe never.

[highroller4321]

I would list things for sale on here rather then take it to a dealer.

[OtusLotus]

nice story and collection!

[Sheba]

Wow! Within those IHC and Buffal nickels and Barber dimes and quarters may be lurking some really nice numismatic items. Have fun with that! I think 'highroller' probably has given you a good idea as to a great place to put these things up for sale. I think you will realize more, and still allow buyers fair prices than you might get from coin dealer. Just my opinion. Congratulations!

[Verbane]

I had something similar happen to me in 2005. My aunt asked me to look at her late husbands collection the week of the funeral, she needed money dont you know. Her sons convinced her to hold onto the collection while they sorted out finances, so my Aunt promised to call me first when they decided to sell. Her sons, my cousins, in their late 20's at the time, both single and living at home, got an itch about a three weeks later. Turns out they needed new flat screen TV's and a beer fridge for the "game room"... The dumbasses took the entire collection to a pawn shop and got about 40% of melt for Numi and junk. This was February 2005, Silver spot was between $6 and $7.00.

I would suggest pulling together the cash and buying the collection now if you can. No offence to your family, but the signs are already there. The part of the collection they knew about went to a dealer already. They find another part of the hoard and the numi stuff is sold (They needed money). How long before the itch kicks in?

[NHsorter]

I had something similar happen to me in 2005. My aunt asked me to look at her late husbands collection the week of the funeral, she needed money dont you know. Her sons convinced her to hold onto the collection while they sorted out finances, so my Aunt promised to call me first when they decided to sell. Her sons, my cousins, in their late 20's at the time, both single and living at home, got an itch about a three weeks later. Turns out they needed new flat screen TV's and a beer fridge for the "game room"... The dumbasses took the entire collection to a pawn shop and got about 40% of melt for Numi and junk. This was February 2005, Silver spot was between $6 and $7.00.

I would suggest pulling together the cash and buying the collection now if you can. No offence to your family, but the signs are already there. The part of the collection they knew about went to a dealer already. They find another part of the hoard and the numi stuff is sold (They needed money). How long before the itch kicks in?

+1
I know nothing about your family so I am not speaking directly to your situation PAFDH, but Verbane makes a great point. Most people just can't hold on to this stuff.

[PADFH]

She's asked me, and I obviously accepted, to sell the silver if they decide to do that. I've been cautious about giving them advice, I've told them the current value, that I'm collecting and saving silver coins myself, told them the recent history of silver prices. I am a bit worried that they might be eager to take the money now, but with family I don't want silver prices to drop down(you never know) and them be upset if it's only worth 75% of what it was a year ago.

I've talked with my father, a part time collector, that he might want to consider buying some of it also. He sold most of his right at the the peak over $48. Not much but impeccable timing.

I wasn't sure about listing the numi's here. I've sold some on Ebay, but still have a bunch left. If I sold any silver, it'd be here. How should I list the numi stuff here? September KSA maybe?