Take The Plunge....or Am I A Fool.

Did he approach you or did you ask him to sell?
Who initiated the "sale" talk?

I can't stand when someone is actively selling
something, but won't put a price. However, if
it was you asking them to sell, then ball's in
your court. If that is the case, you can offer
low, but it won't be accepted.

In the case of him initiating the sale, I would
offer low just out of spite and to force him to
set a price. And I don't mean '10% low', or low
end fair offer... I mean 'insulting low'.

First, I assume you have looked at them and that they are not a pile of culls. Second, I never like to give the first price, I may raise the sellers sights. Rather, throw out a offer of $4000 and go from there. What you really want to know is what number he has in mind. Good luck!
Jim

If your going to buy a lot like in an attempt to flip it for a profit I would recommend you consult a grey sheet and then offer about 50-60% of that amount bearing in mind the bullion value of the silver coins.

Having said that it is always best for the seller to state his price first.

Offer $5000.00, and if he haggles, turn and walk away.
Dick

Sounds a little fishy to me. I'd want to see all of them prior to making any offer. Could be a pile of damaged coins. Worn, dented, scratched, chipped, etc. If a pile of junk, not worth much except pure melt prices. I've seen piles of junk coins like those might be at flea markets and just dumped into bins. All the halves looked like they were used in slot machines for many years.

Without seeing the lot I think you're break even point would be around $8600 based on what you can sell this stuff for in lots on ebay.

I wouldn't off 8600 for it since it would be quite a bit of work to break all this up into lots / list it / pay fees / deal with bidders who would bid on this sort of stuff / etc...

That said I think $5k is a little low as well. The silver would be easy enough to get rid of as it always sells at at least melt value. The rest of the stuff is where it might take a bit to get rid of. Especially the foreign coins. You'd end up having to run 70 or so auctions or you could set up one dutch one, but I think you'd be looking at a couple of weeks to turn over the entire inventory.

Were it me I'd offer $6800 and be willing to go up to $7500 that way you'd be looking at a profit of between $1.2k and $2k over the course of a couple of weeks.

Here's the way I broke it all down...

175 Morgan dollars
125 Peace dollars
85 Walking Liberty halves
150 Franklin halves
150 Kennedy halves
12 Seated dimes
----
Melt value = 6341
Numismatic value = ?


250 INDIAN HEAD PENNIES
----
cull value = ~200
AG - G value = ~300

8,500 WHEAT PENNIES
----
selling on ebay @ ~$25/500 = 425

25 Eisenhower dollars
----
? = ~30

3 ADAMS SMOOTH EDGE ERROR DOLLARS
----
uncertified = ~200 x 3 = 600

7,000 FOREIGN COINS
----
ebay average in 100 coin lots is .13 per coin = ~900

Haha, I am going to do my best to get this lot for super low. I will keep you guys informed.