The Value of Payroll and Coin Collections

If payroll assistants have some foreign currencies in the collection they may want to go through the same process as the U.S. coins. Most groups advertisers have seen don’t contain any great rarities of foreign currencies. In most collections, these are common foreign coins your Grand Father picked during the war or a visit to another country. Payroll dealers typically pay $3 to $4 per pound for foreign currencies. The game changes if they have silver or gold content. You need to get a copy of the “Standard Catalog of World Coins.” Once again, this book is available at a book store or online. If you have only a few coins, you might drop by the library and see if they have one you can borrow. You will need to determine the ASW (actual silver weight) and AGW (actual gold weight) of the foreign gold coins. Expect to get around 80 to 95 percent of the melt value of the coins from the dealer. The thing gets a little more complicated if you are lucky enough to have a tremendous foreign coin rarity.

In most payroll collections, there will be an assortment of medals and tokens. Some coins will be made of gold or silver. Many old badges will list the purity of the silver on edge as either 999 or Sterling (925) silver. Any currency (paper money) in the collection should also be evaluated with a guide book or on eBay to get a rough idea of what they are worth. On eBay, don’t put too much stock in the Buy-It-Now prices. Sometimes these prices are insane and won’t give you much help. Assistant marketers can sort through eBay for final auction prices. This really what an item is worth.

Now that you have made an inventory of the coins, currency, and anything else in the collection, it is time to start checking out the local coin shops. You will need to visit at least three coin shops with the group and take offers from each of the dealers. The dealer’s knowledge, cash position, and their retail clientele will influence the price they are willing to pay for your coins.

Over the decades, advertising personnel have seen and purchased hundreds of coin collections, and they all are as different as the individuals that collected the coins. Other collectors may have a wide variety of items in their collections, such as gold coins for sale, proof sets, foreign coins, tokens, medals, and currency. Now start organizing the group; separate the coins by denomination, separate the foreign coins from the U.S. coins, make a pile of the proof sets, tokens, medals, and currency. If payroll managers have some foreign coins in the collection, theyoin  may want to go through the same process as the U.S. coins. Now that you have made an inventory of the coins, currency, and anything else in the collection, it is time to start checking out the local coin shops.