One of the most thrilling moments for any collector is hearing that someone has a hidden stash of coins they’d like you to check out, especially when they’re kept securely in a bank vault!
That’s exactly what happened the other day when my father, whom I’ve known for 35 years, surprised me with a box of coins he’d bought in the mid-1980s. Back then, he was experimenting with various investment ideas, and he decided that coins would be a smart way to diversify. He ordered some Morgan dollars and silver eagles from a catalog (remember those days?) and then tucked them away for over 30 years.
Now, he’s curious to know their current value, particularly because he suspects he might have overpaid back in the day. He asked if I could figure out their worth for him.
Absolutely, I’d love to!
How could I resist such an exciting opportunity? It’s truly an honor!
I did what any novice collector would do: I took them to my local coin club and asked the experts for help. I tried to grade and appraise them myself first, but grading isn’t my strong suit, and I wanted to ensure my dad got the most accurate evaluation possible. After my experienced friends gave their “official” grades, I peppered them with questions to learn more during the process.
If you’re not part of a local club, I highly recommend joining one. The people there are so kind and helpful, with decades of experience!
[There’s a chance the toning might increase the desirability—and value—of the Morgans.]
The coins are valued at a total of $620. I’m not sure how much my father originally paid, but I bet they’re worth more now, even after accounting for inflation.
Upon finding this out, my father asked if I’d help sell them so he could invest the profits in stocks instead (which I think is definitely a smart move; I love coins, but they’re not the best options for returns or time).
Yes, I’d love to help with that, too!
So, that’s where we stand now. Some of my friends who helped grade the coins have already shown interest, and another collector friend has helped me sell my own coins in the past. With all this support, I’m confident I can sell them for my dad. Plus, I might keep one for sentimental reasons.
Exciting times for sure!
P.S. Initially, I worried the toning was rust, since my father picked them up while we lived in Hawaii (such a different climate!), but thankfully that wasn’t the case. And isn’t the packaging beautiful?