| Author |
Replies: 18 / Views: 4,160 |
Page 2 of 2
|
|
|
|
Valued Member
United States
330 Posts |
Great score! 
|
|
Pillar of the Community
United States
898 Posts |
Man oh man, I would love to have that. I am finishing up filling holes for Roosevelts & Jeffersons and would love to upgrade some. Washintons and Mercs are next and it would be so perfect.
Congrats and enjoy. What a nice friend.
|
|
Valued Member
United States
177 Posts |
Good score! Keep us updated with whether or not the quarters turn out to contain silver!
|
|
Valued Member
 United States
396 Posts |
Interim update.
I finished inventorying the dimes. There were 477 silver and a few nice 1965 clads. 125 mercs and the rest Roosevelts no Barber or earlier. Only 352, not 353 of the Roosevelts.
I've started the quarters. Opened the folders. Most were silver. A few clads were nice examples of 65, 66 and the newest coin of the entire lot, a single 1967 which tells me it's likely the entire lot had been sitting in a basement for 47 years.
There were three standing liberties. One might be a 1929, but is essentially dateless as are the other two.
I've inventoried through 1949. There were 53 30's and 194 40's. No key dates or DD's and no coins in really great condition, but all have readable dates.
I have to finish up with the 50's and 60's today.
|
|
Valued Member
 United States
396 Posts |
Finished the inventory. There were 610 silver quarters in all. Three essentially no date liberties and this one: This George has certainly been to war.   Is that a 52? Only the later coins, especially the 1964s had some nice examples close to AU or MS. Most of the quarters were of the normally well worn variety. No chest feathers until a few in the 1950s. Breakdown by decade. 30's 51 40's 194 50's 264 60's 98 1 1937 D, 4 1938 P, 2 1939 D, 2 1940 D - all in the G range. Nice, but not a '32 with a mint mark. No 55 D which wasn't too surprising. In total over $3,000 in silver melt value. I got the guy's cell phone number today, I'll call him on Monday. I understand from one of the guys that he didn't save these coins, his mother did. I know he was in a rush to get his house empty, but this was over the top. My wife loves the candy tin they were in. It was made in Germany.
|
|
Pillar of the Community
United States
898 Posts |
Wow what a find! Awesome update. Hope the phonecall went well!
|
|
Valued Member
 United States
396 Posts |
Made contact today. He was so busy moving in he didn't recognize who I was at first. He had not realized there was so much silver or that it was worth so much more than face. He suggested 45-55% split on sales which I immediately agreed to. I'll give him 50% of the market value of any coins I keep. (won't be too much above melt since most of the coins are common dates and not much above good condition in most cases) I wonder if it would make any sense to sell via ebay as opposed to a dealer. On ebay, bulk quarters and dimes seem to be going for about 10 to 15% over melt and when you take out PayPal-eBay's 13%+, full melt value would actually be better.
|
|
Pillar of the Community
United States
5208 Posts |
If it's $3K melt and you agreed on a 50 /50 split and you had $1500 to spare I would just buy his share out and keep them all.
|
|
Valued Member
United States
258 Posts |
That's an awesome score, and good for you for being honest and splitting the returns! He obviously didn't know what he had! Keep us posted on what happens!
|
|
Pillar of the Community
United States
3843 Posts |
It is likely that many local coin shops will offer well back of melt value for junk silver. I've heard that 80% to 90% of melt is fair although some dealers might pay a little bit more if they have a ready buyer. I've also heard the horror stories of coin shops offering 30% to 50% of melt if they think the seller isn't well versed in coins so your mileage may vary.
|
|
Valued Member
 United States
396 Posts |
Quote: Joe2007
It is likely that many local coin shops will offer well back of melt value for junk silver. I've heard that 80% to 90% of melt is fair although some dealers might pay a little bit more if they have a ready buyer. I've also heard the horror stories of coin shops offering 30% to 50% of melt if they think the seller isn't well versed in coins so your mileage may vary. I spoke to a local guy and he was offering to buy at a 10% haircut. I'm guessing that's the best I could do with a dealer. Clearly they want to make a bit of money on the exchange. I've been watching ebay auctions and, after ebay fees, they net out to around melt. More work, but also more fun.
|
|
Valued Member
United States
153 Posts |
NICE HOARD OMG. *jealous* hahaha great catch my friend!
|
|
Valued Member
 United States
396 Posts |
I sold a number of rolls on ebay over the weekend. Definitely was not worth the extra work. The gross prices on dimes were about melt and the quarters a bit more than melt (go figure) but after ebay fees the net was about exactly what the dealer would have paid without going through all the work of scanning, write-ups, etc., etc. Saved out some coins that I'll pay my friend 50% of dealer price on rather than the 45% on the stuff sold. In all we'll each net out over $1,000. The only "collectable" coin of the whole lot was the very first one I looked at - a 1938D nickel that had escaped its folder. There were 4 1938 P, 2 - 1939 D, 1 - 1940 D, 2 - 1940 S along with a couple of essentially uncirculated 1963 and 64 quarters. And I saved out some of the better Mercury dimes, but not many. All common dates. I wonder how one can do more than just stumble on to one of these opportunities. Probably not.
|
|
Pillar of the Community
United States
1512 Posts |
Those dateless Standing Liberties, were they Type 1's or 2's. Did they have the three stars on the reverse under the eagle?
|
|
Valued Member
 United States
396 Posts |
Quote: matttheriley
Those dateless Standing Liberties, were they Type 1's or 2's. Did they have the three stars on the reverse under the eagle? Three stars on the only one I kept. By now the other two are melted. There is a 9 on the date making it a 1919 or 1929, but the coin is very worn. Nothing else can be seen. If I had to guess I'd say 1929. no mint marks.
|
|
Page 2 of 2
|
Replies: 18 / Views: 4,160 |
Page 2 of 2
|