So grandma is giving away her coin collection at Christmas....

[Burno]

My grandmother, who is approaching 90, has decided to give away her valuable coins this year at christmas. Her 22 grandchildren will each draw two coins out of a sack without looking. The coins are various U.S denominations that have been deemed her most valuable by a collector.

My grandmother is 89 years old, has lived in Missouri almost her entire life, and is married to a decorated WWII veteran. They have been middle class their entire life.

So for all you coin collectors out there...
Given this admittedly limited information, what size coin should I grab? Although the drawing is blind, I believe I will be able to feel if a coin is a dollar, dime, etc.

And although I have a wonderful relationship with my grandparents, I'm a little torn about this. Part of me feels a bit guilty and callous for thinking about this in this manner. A slightly larger part of me says that I'd be a fool if I didn't figure this out before the drawing, since the difference could potentially be several hundred dollars. Does this make me a bad person?

[theantelope]

Don't worry--I'm sure you're a bad person for other reasons, regardless. [img]/images/graemlins/wink.gif[/img]

[Peca277]

I'm not really a collector, but I don't know if the denomination matters on how much it's worth. A very rare penny could be worth a lot more than a slightly rare silver dollar.

[Evan]

Make a turnkey dinner and serve lots of red wine. After everyone passes out just steal all their coins and work out the details later.

[PhatTBoll]

I'm sure there are much better boards on which to post this question. Google "numismatics" or "coin collecting" to find them.

As for your other question, it doesn't make you a bad person to try to get your best value out of the situation. Maximizing your EV doesn't mean you love your grandmother any less.

[Burno]

Precisely. Of course your gut says grab a silver dollar, but we realize that may not be the best choice. Her age and backround may increase the likelihood of one denomination being the best bet. Unfortunately, I don't know sheet about coins. Luckily, I'm sure that someone on this board does.

[Jim Kuhn]

As most coins will likely be minted prior to 1965, and therefore silver, it would normally be +ev to take a larger coin. Unless a penny is a 1909 s vdb or something like that.

[Non_Comformist]

Any chance you could enter a predraft agreement with some family members in which you sale the coins and split the procedes?

[citanul]

Uh, is she a coin collector or a lady with a bag full of old change?

Everyone else is assuming what you've got is a bag full of random money.

If she has things that are like, gold, those are clearly best.

I doubt that you will have any coins in the bag that are both large and lack milling (the rough edge) but if you do, those are likely the best bets.

Do you intend to sell the coins? Or to have them and be excited that you have the most expensive coin possible?

I'm pretty fond of certain American coins, some of them valuable, some not.

If your grandmother has been collecting, the coins could easilly be in plastic shells, making it pretty hard to tell what they are. If they are not in any protection, it is unlikely they are worth much, since condition is such a high %age of total coin value.

I don't think there's a single penny that's worth very much at all. I also don't think that there are many dimes or nickels worth anything serious. Some quarters have value, though it's dollars, half dollars, and extinct coins that are the huge money in US coins.

citanul

[Burno]

She's not a coin enthusiast, but apparently had amassed a decent collection. Grandma has a bit of a knack for collecting, to put it lightly.

I'm unsure of the collector who inspected them, that seems like such an opportunity for exploitation.

Thanks for the advice though citanul. I'll send you your cut when I pull out that large unmilled edges gold dollar worth a WSOP buyin. [img]/images/graemlins/wink.gif[/img]