Inherited a collection?
Somebody left you a coin collection and you have no idea what it is.
That's the normal way this goes. Almost nobody who walks in with a collection put it together themselves. You don't need to know anything before you talk to me, and you don't have to decide anything at all.
Four things to do before you call anybody
Including me. This part is free and it matters more than who you eventually sell to.
- Don't clean anythingPolishing a coin can take it from collectible to scrap in one wipe. This is the big one.
- Don't sort it or throw anything outThe ugly ones are sometimes the good ones. Bring the whole coffee can, jar, box, binder, whatever it's in.
- Don't take it to a pawn shopThey will weigh it. Weight is only one of the things that makes a coin worth money, and often not the biggest one.
- Don't let anyone rush youAnyone who needs an answer today is telling you something about themselves.
PJ and his wife, Carrie.
Who you'd be dealing with
My name is PJ Potter. I have been buying and selling coins for the better part of twenty years. I belong to the American Numismatic Association and I submit coins to the Numismatic Guaranty Company, which is the outfit that certifies and seals coins so a buyer knows exactly what he is getting. I still stand watches for the Coast Guard. And I live here.
The men who taught me this trade were dealers in their eighties and nineties. They could have taken advantage of somebody who did not know anything. They taught me instead. I know exactly what it's like to sit on your side of the table.
I'll tell you what your collection is worth before I tell you what I can pay for it, and I'll explain why those are two different numbers.
“I don't want anybody to lose dad's collection because a pawn shop told them it's only worth a dollar.”
What actually happens
However much there is, and however long it takes.
We go through it together
Right here, in front of you. Not overnight, not out of sight, nothing kept in a back room.
Three piles
Common, better, best. Most of what comes across the table is common, and that's not an insult. It's what most collections are.
We open the book
On the best pieces, together. Either you've really got something or your dad collected the ordinary stuff. Both are worth knowing.
Value first, then the offer
What it's worth, then what I can pay, and the honest reason there's a gap. From that point on I'm carrying the risk and the time.
You take it or you don't
No obligation. It costs nothing to find out, and you can leave with everything you came with.
If you're the executor, or there are several of you
I'll come to the bank or the attorney's office, go through it with everybody in the room, and leave you a written, itemized offer on my letterhead — every lot, what I'd pay for it, and why. Take it home, share it with your siblings, sit on it for a year. It's yours whether you sell to me or not, and it's the document that usually settles things. When you call you get me, not a menu. If I'm on watch, leave a message and I call back — usually the same day, always within one.
If you need it in writing
Plenty of people need more than a number and a handshake. A brother in another state who wants to know what you got. An attorney settling the estate. Sometimes a court or an insurance company.
What I can give you
A written, itemized offer on my letterhead, signed and dated. Every lot listed, with what I'm paying for it and why. Free, no obligation, and yours to keep whether you sell to me or not. For most families, and for most brothers in other states, that's the document that settles it.
What I cannot give you
A formal appraisal for a probate court, for the tax people, or for an insurance claim. Those have to be written by a certified appraiser working to a national standard, and I am not one. There is also a plain conflict in it: I would like to buy your collection, and the person who values it for a court should not be the person hoping to own it.
If your estate needs that kind of appraisal, tell me and I'll point you to somebody who does them properly. It costs you nothing to ask me first.
Common questions
How big is too big?
There isn't a too big. Whatever the size, I can have a firm number for you the same day. I do not have to go looking for a buyer first.
Do I have to come to you?
No. I will come to you. Your house, your bank, your attorney's office. A lot of people would rather do this at their own bank, and that is completely reasonable.
Can I bring somebody with me?
Please do. Most people do, and I'd rather you had someone there.
How long does it take?
A coffee can, twenty minutes. A serious collection in binders, a couple of hours or a second visit. I won't rush it and you shouldn't either.
I'm only in town a few days.
Call me and say so. I will work around your flight, evenings and weekends included.
I've already gone home and it's still at the house.
That happens constantly. Call me anyway and we'll figure out how to handle it from where you are.
When can I come?
Any day of the week by appointment, evenings and weekends included. The storefront runs a two-week cycle because I also work shifts for the Coast Guard, and the current days are posted on the door and on my Facebook page. Honestly, most people just call and we pick a time.
Is there a hurry?
None at all. Some people want it dealt with the same week, others can't open the box for a year. Both are normal. I'll still be here.
What do I need to bring?
The collection and a photo ID. That's all. The ID is required by law on any purchase, and it protects you as much as it protects me.
Can you appraise it for probate or insurance?
Not formally — that has to come from a certified appraiser, and the person hoping to buy your collection shouldn't be the one valuing it for a court. I can give you a written, itemized offer on my letterhead, free, and point you to a proper appraiser if the estate needs one.
Send photos, ask for a call back
Tell me what you've got and when you'd like a call. Add photos if you have them — they help, but they aren't required. I'll get back to you myself, usually within a day.