Where Should I Take My Coins?

[naturedude11]

I finally cleaned out my parents' old house (they've been in the great beyond for a couple of years now). I got around to the coin stash, and found quite a few rolls of coins. Most are quarters and dimes, probably a few hundred dollars worth, and I doubt they're rare or anything.

However, there are some silver dollars that appear to be a few decades old, that might be worth more than face value. And a few "collector" coins as well from the 1950's and 1960's. My questions, for those of you who may have cashed 'em in recently:

1. I've never been to the local "coin dealers." Are they reputable?

2. If you take, let's say $ 500 worth of rolled quarters, do they pay face value (like my bank would), or do they charge a percentage?

3. If some of these coins are in demand, and worth more than face value, will local coin dealers be honest with me? If so, which one?

4. And finally, there were some big full-page ads in today's Sunday TFP about a couple of traveling coin dealers out near Hamilton Place all week...we'll pay top dollar, etc. Are they legit, or traveling ripoff artists?

If anyone has some answers...thanks in advance!

[daworm]

First off, check the rolls of coins. All dimes and quarters before 1965 are silver, and are worth more than face value for that alone.

Second, invest $9 or so on a coin price guide such as this one. Chances are, you won't have anything rare, but you never know. Probably better odds than the lottery.

Finally, contact the Chattanooga Coin Club and they'll probably be more than glad to let you know where you can sell any of the silver coins or any that you find that may be worth more than face value.

All that are left, roll them and usually your bank will take them on deposit. They'll charge you if they have to sort/roll them, though (or at least most banks do these days).

[xterragirl]

The main branch of First Tennessee (downtown) has a coin sorting machine. If you have an account at First TN, you won't have to pay a fee. You just feed the coins in and get your ticket. Take it to a teller and either deposit the money or take the cash.

[JC]

Nov 8, 2009 21:52:05 GMT -5 xterragirl said:

The main branch of First Tennessee (downtown) has a coin sorting machine. If you have an account at First TN, you won't have to pay a fee. You just feed the coins in and get your ticket. Take it to a teller and either deposit the money or take the cash.

The one by Hamilton Place has one too.

[goomba]

also keep an eye out for any special coins, like wheat pennies, buffalo nickels etc....
definitely keep all the pre-65 coins so you can sell them for the value of the silver that they contain.

most grocery stores (I know the bilo and food lion near me) have coin star machines, you have to pay for the service to.

the 1st TN banks downtown, hamilton place, & Hwy 58 (the one closest to hwy 153) all have coin machines. I'd recomend them if you have an acccount with TN, then the total of the coins can be either deposited to your acct. or you can get cash. but you have to pay for the service if you do not have an account.

as for the traveling coin dealers. if you dont know what you have, your going to get ripped off. period. get with the local coin club, worm posted the links above.

good luck

[el Gusano]

I would think that if some are special, then all would be, otherwise why would they have kept them? But, if they've just been collecting them for years, some might just be silver because they're old.

[kroisis]

Listen to daworm,...


daworm is wise.

[naturedude11]

Thanks to everyone. What about Southern Gold, or whatever it's called on Brainerd Road? They advertise a lot, but I've never been there.

[ohwell]

If there are any wheat leaf or Indian Head pennies, they are worth a lot. An 1877 Indian Head penny is worth about $1,000. I think you will also find that you must be a customer of the bank to use their coin machine. Check the dates carefully.

[goomba]

Nov 9, 2009 6:53:21 GMT -5 naturedude11 said:

Thanks to everyone. What about Southern Gold, or whatever it's called on Brainerd Road? They advertise a lot, but I've never been there.

from a friend who works in jewlery, dont go there.

I'd get with the coin club guys.

[LimitedRecourse]

Huge ads in the paper the past two days...

[www.nooganews.com]

Rick Davis, now that's a friend in the Jewelry business! If you go there, you won't need deep pockets, in fact, you won't need any pockets at all. You won't get anything for you gold, silver coins, etc.

I have always liked and done business with Kennedy Jewelers on Main Street.

[ohwell]

Check the dates. Go to eBay and see what they are selling for. You might have crap, but you might have something of value. I have my Grandfather's collection of Indian Head and my Father-in-law's collection of Wheat Leaf. You never know.

[Tsavodiner]

keep an eye out for any special coins, like wheat pennies,

1943 Philadelphia mint COPPER penny, +/- $200,000.

[ohwell]

Gee thanks, now I have to go through all my wheat leaf pennies and look for that one.

[gridbug]

Ahhh, it's so refreshing to see a friendly thread about change and hope

[goomba]

dont worry grid,

Its not the kind of change and hope that you want

[ohwell]

Change, what change??? What did we change?? I don't remember any change. Oh, are you talking about me. I don't think I've changed. Do you really think I've changed? I hope its for the better. I really, really hope its for the better.

[Tookie]

Nov 9, 2009 17:02:16 GMT -5 www.nooganews.com said:

Rick Davis, now that's a friend in the Jewelry business! If you go there, you won't need deep pockets, in fact, you won't need any pockets at all. You won't get anything for you gold, silver coins, etc.

I have always liked and done business with Kennedy Jewelers on Main Street.

That was my experience also.