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 Replies: 33 / Views: 4,488 |
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Valued Member
United States
136 Posts |
I just spoke with my father (my partner in business), and we're actually considering purchasing this lot for resale. I'll keep everyone updated!  |
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Pillar of the Community
Canada
1610 Posts |
Good luck! BTW, does your father own Microsoft, lol!
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Pillar of the Community
United States
2541 Posts |
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Moderator
 United States
16679 Posts |
Anything this huge is all speculation to me and I will always avoid, sit back, and watch. Quote:
I just spoke with my father (my partner in business), and we're actually considering purchasing this lot for resale. I'll keep everyone updated! Really. Wow. Okay, yeah, keep us posted. swcoin.ecrater.com
Edited by vermontensium
12/05/2011 02:18 am
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Rest in Peace
United States
9104 Posts |
Wonder how many people would even consider wasting their time bidding? It's prolly been shopped to a dozen dealers, and the dreamer wants double retail. If you're not willing to sell for less than $xxx,xxx, make that your minimum; reserves are just a waste of everyone's time (except ebay, who gets the reserve fee even if no sale). |
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Rest in Peace
United States
9104 Posts |
Isn't it against new ebay rules to provide phone number or email address? |
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Rest in Peace
United States
9104 Posts |
NicO-
There are way too many things to go wrong here. Unless you and your dad have decades of coin retailing experience, the odds of losing a chunk of change is way up there.
If the seller is serious, this is the type of accumulation generally bought by a major dealer, at 20-40% of wholesale.
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Valued Member
United States
305 Posts |
Hello all, If I purchased this, I would walk around with it in my pocket. Than if I want to purchase something, I would brake off pieces, like the pirates did with there coins.
Edward M.
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Valued Member
United States
421 Posts |
isn't this the same gut that had the huge morgan and Peace dollar auction up. I think it had like 14 1928P Peace dollars and so on? |
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Valued Member
United States
136 Posts |
Biggfred -
My father's been in the business since 1975, so he knows his way around the game, and he's always been the guy to buy anything and everything as long as the price is right. Like you said though, the only thing that worries me is what the reserve is actually set at and what the seller expects to get. If we can't make a suitable profit, we'll simply pass up the deal. I spent a lot of time looking through the photos and it doesn't seem like a bad collection (I'd like to call this one more of a hoard, actually), however, I understand that you just simply can't be 100% with these types of deals.
Edited by NicO
12/05/2011 10:17 am
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Bedrock of the Community
United States
14454 Posts |
this would be the type of deal where the buyer would have to contact the seller and then make a trip out there to see the coins and pay for them in cash (with a big discount because no fees from ebay or Paypal) and carry the coins home as they leave. These types of HUGE collections never take place online or at least I have never heard of any being completed online that was worth so much money |
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Bedrock of the Community
  United States
12839 Posts |
It does seem ridiculous to do it this way and have to pay the ebay and other (PayPal?) fees for something like this. At 400k that would be somewhere around $40k into the ebay coffers. Yikes. |
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Pillar of the Community
United States
4989 Posts |
I am sure the seller has computed the actual silver value of his hoard and, also, picked through it to identify any key dates. The value of those, plus a likely 40%-50% mark up, will be baked into the reserve price.
This particular seller seems to specialize in these bulk lots so rest assured if you buy this set HE WILL PROFIT and YOU WILL TAKE A BATH.
I can practically guarantee it -- this seller is obviously a pro.
BE VERY skeptical when make makes claims such as "the total weight is XYZ lbs and 75% is silver". Does he mean 75% or the weight or 75% of the coin count? Does the total weight include boxes, folders, cases? Does it include old coin books, magazines, etc? Believe me if you buy this and get those 1200 lbs boxed to you there may be a STARTLING amount of crap in there - old red books, large copper medallions, crappy jewelry, etc... just a pandora's box of you know what. And don't be surprised that when you turn over some of the 93-S's in those folders that they are missing a mint mark. No guarantees on these bulk lots "sold as pictured"
Edited by fenton
12/05/2011 3:19 pm
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Bedrock of the Community
United States
17884 Posts |
Quote:
I wonder how one would even go about paying for something like this. Wire transfer, bank to bank. And possibly with an escrow. Edited by Conder101
12/05/2011 3:36 pm
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Valued Member
United States
450 Posts |
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Replies: 33 / Views: 4,488 |
First Page
Posted 12/04/2011 7:06 pm
