You've inherited a coin collection — maybe boxes of albums, rolls, and loose coins from a grandparent or parent who collected for decades. You have no idea what's in there or what it's worth. This guide walks you through exactly what to do, in order, so you don't accidentally sell a $500 key-date coin for face value.
Step 1: Don't Clean Anything
This is the single most important rule in coin collecting: never clean coins. A coin that has been cleaned — even gently, even with soap and water — loses collector value permanently. The original surface patina (called "luster" on uncirculated coins and "toning" on older coins) is part of what collectors and graders evaluate. A cleaned 1881-S Morgan Dollar in MS-63 might be worth $150. The same coin with cleaned surfaces might bring $40.
Leave every coin exactly as you found it. Sort by placing, not rubbing.
Step 2: Separate by Metal Type
Before worrying about what's rare, do a rough sort by metal. This helps any buyer (and helps you understand what you have):
- Gold coins — any coin that appears yellow-gold colored. Set aside immediately. Could include pre-1933 U.S. gold ($2.50, $5, $10, $20 denominations), foreign gold, or modern bullion coins like American Gold Eagles.
- Silver coins — U.S. dimes, quarters, half dollars, and dollars minted before 1965 are 90% silver. Kennedy halves 1965–1970 are 40% silver. Morgan Dollars, Peace Dollars, and Eisenhower Dollars (some) are silver. Set all of these aside.
- Modern clad coins — post-1964 dimes, quarters, and post-1970 halves have no silver content and are worth face value unless in mint condition or special sets.
- Cents and nickels — Buffalo Nickels (1913–1938) and Lincoln Wheat Cents (1909–1958) have collector value beyond face. Steel Pennies (1943) are common but collectible.
Step 3: Look for Key Dates
Key dates are specific year/mint mark combinations that are rare because few were made or few survived. You don't need to know every key date — just look for the ones worth stopping for:
Morgan Dollars (1878–1904, 1921)
Most Morgans are worth $25–$50 in circulated condition based on silver content. But these specific dates are worth far more:
- 1893-S — can be worth $4,000+ even in poor condition
- 1895 (proof only) — $25,000+
- 1889-CC — $500–$3,000+
- 1884-S — $200–$1,500
- 1892-S — $200–$2,000
Lincoln Cents
- 1909-S VDB — $700–$2,000
- 1914-D — $200–$5,000 depending on grade
- 1922 Plain (no "D") — $500–$3,000
- 1955 Doubled Die — $1,500–$10,000
Buffalo Nickels
- 1913-S Type 2 — $400–$2,000
- 1916 Doubled Die — $2,000–$15,000
- 1918/7-D (overdate) — $500–$5,000
Step 4: Check for Certified Coins (PCGS/NGC Slabs)
If any coins are encased in hard plastic holders with a label from PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation), those are "slabbed" certified coins. The label shows the coin's grade on a 70-point scale. A PCGS MS-65 Morgan Dollar is worth significantly more than the same coin raw (ungraded). Set all slabbed coins aside and treat them as a separate category — they need to be priced against the PCGS/NGC price guide for that specific coin and grade.
Step 5: Assess Bullion Coins
Modern bullion coins are different from collectible coins — they're bought and sold based almost entirely on metal content at or near spot price. These include:
- American Gold Eagles (1986–present)
- American Silver Eagles (1986–present)
- Canadian Maple Leafs, South African Krugerrands, Austrian Philharmonics
- Generic silver rounds and bars
Bullion is priced by weight × current spot. These are the easiest to value — check kitco.com for today's spot and multiply.
Where to Sell in Arizona
You have three main options: coin shows, online platforms (eBay, Great Collections), and local dealers. Each has trade-offs.
Coin shows are good for rare, high-value items where competition between dealers drives up offers. The Arizona State Numismatic Association hosts shows in the Phoenix area.
Online maximizes exposure but takes time — expect 2–6 weeks to sell, plus fees (eBay takes ~13%), plus shipping and insurance headaches.
Local dealers like YML Refinery near Scottsdale and near Phoenix are the fastest option. You walk in, get evaluated, and walk out with cash. The trade-off is slightly less than what a perfect sale online might bring — but for most collections, the time saved and certainty of payment make local the right call.
At YML Refinery, we buy entire estate coin collections in one visit. You don't need to pre-sort or research values — bring everything and we evaluate each piece: test silver and gold with XRF, check key dates, assess certified coins against current graded values. Call (623) 974-3772 or visit us at 11115 Grand Ave #4, Youngtown. We're 22 miles from Chandler, 28 miles from Mesa — a straightforward drive.
Also see: estate gold buyer near Scottsdale and our guide to selling inherited coins in Arizona.