Got Coins? Here’s why you should do your homework before looking to sell them

Art owns Art McBride Rare Coins in Portland and has 30 years in the field. These days, most collections he sees come from a grandparent or parent who collected coins either casually or with skill and passion. “Kids don’t collect coins like they used to,” he says. “Grandpa did, dad did. Kids? Not so much.”

So, when someone asks if it’s a good idea to gift coins or a collection to a child or grandchild, Art asks: “Do the kids like cash?” Smiling, he relays the standard answer: “Oh yes, they do.”

So, Art says, “They can sell the coins and give the kids something they really want.”

Most people have or find coins or a collection and don’t know what they have, Art says. And “they assume that all coins in a collection have the same value. They don’t.” Factors that determine value include year produced, condition (ranging from untouched by human hands to wear and tear from regular circulation), and more. “What it’s worth changes every day.”

Also every day, Art says he learns something new. His education began with an interest that led him to attend coin shows — which he still does as often as 10 times a year. Shows he is attending each year are listed on his website. These days his wife, a professional artist, often attends with him. His daughter, however, didn’t follow dad’s professional footsteps; she is a successful author.

In addition to finding success in his chosen field, it’s clear that Art thoroughly enjoys it. “I go on treasure hunts,” he says. “It’s fun.”

He wants his clients to have an equally enjoyable experience and will travel to meet them — at their bank, workplace or residence. He is fully insured and committed to the highest ethics and his clients’ safety. Professional, no-obligation consultations are free, and Art also accepts photos or coins delivered by registered, insured mail.

For anyone considering an appraisal or sale of coins or collections, Art says, “Get it checked out.” First, he says, “Do your due diligence” before meeting a coin dealer or pawn shop. “There are many counterfeit coins out there and you need someone who can differentiate them. You also want someone with impeccable history and credentials.” Art’s own are lengthy, including being one of only five members of the Professional Numismatists Guild (PNG) in Oregon and Washington. Learn about PNG at www.pngdealers.com; find Art’s complete credentials and more at artmcbriderarecoins.com.

This is just a glimpse into the subject. See more stories — both awe-inspiring and cautionary — in future issues. In the meantime, Art says, if you, like so many people, have coins or a collection languishing in a closet or garage, use care, do your homework and enjoy the “treasure hunt.”