Second Opinion Service

Back in the day if you had a coin you wanted information about (What it is, What its worth), you took it down to the local coin shop to show it to the grumpy guy behind the counter.  Technology has seen a reduction in brick and mortar coin shops as dealers turn to digital photography and online sales to market their wares and dispense with all those leasehold expenses.  One feature that has been lost is the ability to present our coins to someone with experience who can answer questions.

I've got a guy who wants to send his coins out to get an opinion on what it is and what its worth, but there is no place to send them.  If you have die varieties you can submit them to Wexler or Wiles (I understand Coppercoins is taking a break for a while) and that's great if you need a document for a TPG, but what about all those coins you inherited from your long lost uncle or the odd coin you found roll hunting?  Another consideration is the cost.  Wiles charges $8 plus return shipping to attribute your discovery.  Someone with a box of coins will find this cost to be prohibitive.

Being the ever watchful entrepreneur, I'm thinking 'that's a great idea, start an Opinion Service'.

EDIT:  The service is now available.

Full details will be found on the Coin Inspection and Opinion Service page

  

What's this worth?

There's a huge population out there who come across a coin but don't have the knowledge to determine what it is or even where to look for more information.  For some, just grading the coin is out of their realm of expertise.  I see people who talk about sending that 1942-D to PCGS to get it graded.  They'll charge a lot more than the coin is worth.  Before spending that kind of money, it sure would be handy to get a second opinion to find out if it is worth sending in.


Lots of things to consider.  Shipping the coin to be looked at, what I would actually do with the thing, shipping it back, security, lost mail, not ripping people off.  Most importantly it would have to be affordable.  There's a lot of stuff out there that's not worth a whole lot.  Sending in a 1943 Mercury Dime in Fine condition to find out what it is and what it's worth can be a waste of their time and money if I'm charging a buck to look at it.  Next, I'll get a pile of people who want to email a photo and get an idea of what it is and what it's worth, to avoid the shipping and opinion fees.  This ends up wasting my time.  Get on facebook, there are groups for that.  Facebook groups and coin forums are great for a topical discussion but nothing beats having someone look at it in person.  If there is no local coin shop to stop by, you are pretty much on your own.

Send me the coin, a SASE, and for a $2 fee, I'll tell you what I think.  What is it?  What's it worth?  Can you grade this?  I can probably answer most of those questions.  If I can't at least identify the coin, I send it back in the SASE along with your fee.  Chances are that if I can't identify the coin it's in Chinese or so badly damaged it wasn't worth sending in to begin with.

Don't send this.

It would be prudent to establish some guidelines as to what not to send.  Common dates, coins with holes, and a lot of low grade stuff should not be sent.  I'm solid with US and Canadian coins but no good with a lot of foreign issues.  It would make sense to nip those in the bud before spending the postage.  This works out as most of the stuff people find in their change is US and Canadian to begin with.

I expect that from time to time I would encounter a remarkable coin that needs additional measures to ensure it's safe return to the owner.  In these instances, I'd need a system in place to charge for special handling.  Paypal can handle the billing, even let me print a shipping label for first class mail with signature confirmation and insurance.

Other product and services can be added.  A deluxe service has the coin placed in an airtite holder.  An owner could choose 1st class shipping both ways with appropriate fees involved.  If I ever get the store in shape, offering the coin for sale can be an option.  This little blog has had over 10000 pageviews already and it hasn't been 3 months.  I suppose I'll go through a couple of pots of coffee and put this service in place.  There is a need for it.

Comments are open.  I'd love to hear what you think.

EDIT:  The service is now available.
Full details will be found on the Coin Inspection and Opinion Service page