Update 1 I Get To Go Through A "Unsearched" Hoard Update !

trdhrdr007............

QUOTE:.......
"If you know there isn't any chance to come to an agreement on prices change how you are looking at the process. Instead of seeing them as coins you want to buy, consider it an opportunity to look at someone's collection, & enjoy it for what it is."

You know......that's a really good point......and I think that might be the best route for me to take. I'll just change my attitude about this whole thing and look and see what he has and congratulate him on the "half pile" and if he does have a semi key date in there......shake his hand....
I was in my towns coin shop over the lunch hour and "he" (the dealer) said to offer him "8 and a half times face" ........well.....I already told my friend that his silver quarters could be worth over $3.00 dollars apiece easily........(guess I shouldn't have!....)

Biokemest6..............

Well, If I told him that the "one" dealer we have in town is offering 8 and a half times face.......and I offered him 12 times the face value.....wouldn't ya think he'd take it ?.........problem is he knows that dealers pay "low ball" because they have a profit to make and a business to run.....so... (according to him and maybe rightly so).....his theory is that "whatever a dealer will give you....it must be worth MUCH MORE THAN THAT !........(what my friend doesn't realize is that he has to find someone OTHER than the dealer then, to PAY HIM that much over that price!)
My dad always said........something is ONLY worth what you can find someone to pay you for it...it doesn't matter what some book says it's worth.....(he isn't an Ebayer obviously...but that's still kind of sensible in a way)
Just checked the phone book........we have TWO coin shops in town!....I didn't know about this other one......am calling now...........
guess what!....this dealer says a MINIMUM of 10 times face value !......so this other dude is a CROOK then ?....dang !....now I'm kind of upset !
Didn't even know there WAS another coin shop in town until 30 seconds ago !

Twelve times face from a dealer at this point seems a bit high. Everyone lops off a % of melt to make money. If you really want to get insulted get a quote from a mass "scrap metal" marketer or pawn shop from T.V. or radio. I have heard of some offering only 6-7 time face right now! Ouch. The sad part is they get a lot of business from those who have no clue about true metals values. Mike

I would just go through the coins to inform him what they are worth and for the pure joy of looking at someone's collection. Pick out the rares for him and give him the grey and red prices for them. Also let him know what you'd be willing to pay for them. Then let him decide he can try the rare's at the coin shop or ebay or whatever (maybe he'd like you to sell them on ebay for a small price or a couple coins you like?). As a friend it is your duty to inform him but it is not your duty to pay inflamatory prices lol. That is what I would do

Coin X greysheet-$x redbook-$y worth to me-$z

Then he can decide if he wants to hold them, sell them fast to you, or try to get RedBook prices and wait a good long time doing it. Also as a lover of rare coins I would feel duty bound to alteast inform him what is and isn't junk.

I hope all goes well with your family matters! For now, let that be your concern and forget about the coin hoard. Then, when you least expect it, you and he will both be ready; and you will be pleasantly surprised!

Update :
Got Grandma's house cleaned out on Saturday (9 pickup loads worth!). Instead of spending the weekend up there, I came home the same day....12 hours total of my time...
So, my Sunday plans with my buddy were able to happen afterall.
First, we found 108 Morel Mushrooms !
Second, I really need a lot of practice with my target shooting...I stink !.....haven't fired a gun in a few years now and it showed !
Third....I looked at his hoard !......
Fourth....my Grandma had some coins too which I brought home with me to "catalog" for her and put a value on them and see what she wants to do with them.....(there's more to the story, but I'll start another thread for that as it was an unexpected surprise)
So, anyway......he had a "ziplock sandwich bag" full of Mercury dimes....a "gallon ziplock" 3/4 full of silver Washington quarters and Roosevelt dimes....about 45 Franklin halves.......4 Standing Liberty quarters.....a few Walking Liberty halves.....about 20- 40% Kennedy's and 1- 90% Kennedy......sandwich bag 3/4 full of Wheaties......15 Peace dollars and 4 Morgan dollars......and he said he had some "coin albums" but there were few coins in them........I think that was it !
I didn't take the time to look at each coin for him, of course, but I told him that he DID have a considerable pile of silver !...I gave him "rough" estimates on the silver dollars...(no key dates on anything that I looked at) and told him what he could get out of his dimes, quartes, halves, etc....
His current opinion is that he's "going to hang on to em' for awhile"..."maybe give them to his two daughters when they get old enough"....(can't begrudge a guy that one right?!)...I said I'll always be interested if he offers them and left it at that.
But Grandma's coins..............

quote:

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First, we found 108 Morel Mushrooms

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Thats a treasure hoard right there

Jbuck........
Yeah, I told him all about "mint marks" and "dates" ...semi-key and key.....mintage numbers reletive to rarity in most cases, etc. etc.
He's always been a "tight-wad" with his money.......not in a bad way but, you know, kinda .........anyway once he knew the "general value", I think it was unexpected to him really, and so the value of the "almighty dollar" has pretty much assured the resulting action.
He's too "thrifty" to ever purchase a coin in his life though, sadly......so, very doubtful that he'll ever join me in the world of coin collecting!......it won't be for my lack of tryin' though !