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Estate Sale

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hokykid5's Avatar
United States
61 Posts
 Posted 10/29/2012  3:05 pm Show Profile   Bookmark this topic Add hokykid5 to your friends list Get a Link to this Message Number of Subscribers
Hello everyone, just wondering if anyone has ever had any luck acquiring coins at estate sales? Just curious if its an avenue in which I should broaden my coin collecting horizons.

Thanks guys
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oih82w8's Avatar
United States
7840 Posts
 Posted 10/29/2012  3:06 pm  Show Profile   Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
Just don't let the excitment get ahold of you. Level heads prevail in these type events.
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mds308's Avatar
United States
1721 Posts
 Posted 10/29/2012  9:22 pm  Show Profile   Bookmark this reply Add mds308 to your friends list Get a Link to this Reply
I've been going to estate sales for years. Professionally run sales are harder to buy from due to the fact they tend to research a lot of stuff. You'd have to nail them on VAM's or other oddities. But they normally can't research everything and they tend to price higher. Most have discounts on the second or third day of the sale. Also , many estate sale companies seed (bring their own items) the sale.

Family run sales tend to keep the coins due to the fact they are afraid of making a mistake.

It is possible to get coins at an estate sale but you have to be fast and know what you are looking at. There is a rush for the jewelry and coins. Competition is fierce and you won't have the time or luxury like you would at a show. You put it down and somebody else will pick it up.
Bedrock of the Community
United States
20753 Posts
 Posted 10/29/2012  9:28 pm  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
I've been trying estate sales for coins, swords, guns, etc for a long time and no luck at all. I've found in almost all instances of estate sales or moving sales, relatives and neighbors have already been there. I have had massive luck at garage/yard sales though. Not sure why but relatives and neighbors seldom search those. I suspect they are afraid people will think they are poor or something. Just not sure why but it's ok with me.
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hokykid5's Avatar
United States
61 Posts
 Posted 10/29/2012  9:50 pm  Show Profile   Bookmark this reply Add hokykid5 to your friends list Get a Link to this Reply
I'll have to try some garage sales in the spring, here in ny there about dead for the season. What do you find at garage sales?
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mds308's Avatar
United States
1721 Posts
 Posted 10/29/2012  10:02 pm  Show Profile   Bookmark this reply Add mds308 to your friends list Get a Link to this Reply
I've been to hundreds if not thousands of yard sales and rarely do I see coins. You have to ask. I ask a barrage of questions. I've got at least 3 Rolex's this way. If you don't ask, they won't volunteer the information. Most of the time, if they bring something out of the house, it's not for sale and they only want free information. You can't win them all.
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Steele's Avatar
United States
1119 Posts
 Posted 10/30/2012  01:19 am  Show Profile   Bookmark this reply Add Steele to your friends list Get a Link to this Reply
Estate sales rarely are a good place to buy coins. Most times people who dont know the value of items and think they are worth more than they are will buy or bid up items beyond what you could get them for elsewhere. But there is the occasional sale where you can get lucky
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hokykid5's Avatar
United States
61 Posts
 Posted 10/30/2012  10:29 am  Show Profile   Bookmark this reply Add hokykid5 to your friends list Get a Link to this Reply
Thanks for your input guys :)
Bedrock of the Community
United States
20753 Posts
 Posted 10/30/2012  11:41 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
As already noted at most garage/yard sales you have to ASK. People usually are alone and don't want expensive items laying out on a table. Even if with someone, still afraid to put expensive things out. Coins could just walk away. You have to ask. One of my greatest finds was at a garage sale. I asked about any old coins. The lady went inside and came out with a jar of pennies she said was her late husbands. They were going to go to a bank soon. They wanted me to count them but I estimated about $35 face value and offered $50 and they accepted. At home I found the newest one was in the 50's. The bottom was all Indian Head cents. Was about $30 face value but a small fortune in coins.
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hokykid5's Avatar
United States
61 Posts
 Posted 10/30/2012  2:02 pm  Show Profile   Bookmark this reply Add hokykid5 to your friends list Get a Link to this Reply
Just Carl, that's an awesome score. I'm taking notes here. Hopefully I score big like that. Congrats!
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oih82w8's Avatar
United States
7840 Posts
 Posted 10/30/2012  2:09 pm  Show Profile   Bookmark this reply Add oih82w8 to your friends list Get a Link to this Reply
Hey! Where did my jar of pennies go?

Estate-Sale

I was not "late"...I was unavoidably "detained"!
Edited by oih82w8
10/30/2012 2:23 pm
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MacCoins's Avatar
United States
96 Posts
 Posted 10/30/2012  10:14 pm  Show Profile   Bookmark this reply Add MacCoins to your friends list Get a Link to this Reply
I will be the executor of an estate of a collector. Very interesting experiences from members on the board. I might have to get enough posts so when the time comes, I can give people here the first opportunity to buy some items.

Mack
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hokykid5's Avatar
United States
61 Posts
 Posted 10/30/2012  10:30 pm  Show Profile   Bookmark this reply Add hokykid5 to your friends list Get a Link to this Reply
I would be very interested :)
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mdpmedia's Avatar
United States
3546 Posts
 Posted 10/31/2012  03:54 am  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply

Quote:
it's not for sale and they only want free information.


Just a comment on the above statement:

It has been my experience when searching for coins at yard sales that a buyer always has much better luck gaining access to look at the coins when the seller brings them out immediately at the time of the initial inquiry.

If a buyer states that he/she will call you when they have time, that opportunity should most likely be written off; the buyer's chances of ever seeing those coins have now dropped off to about 10% or less.

One suggestion to improve the buyer's chances of making an appointment in the future would be to ask the buyer the following question,

"Can we 'swap' names and phone numbers?"

This little trick has a greater tendency to result in the buyer obtaining contact information for making future attempts for a new coin estate evaluation appointment.

The term 'swap' is a psychological compromise for any seller who is normally skeptical about giving their personal contact information to any individual(essentially a stranger) after having met them just one time.

If a buyer smoothly poses this innocent question while simultaneously looking the seller in their eyes, 'swapping' anything with anyone seems to be a fair, reasonable, and non-threatening request since now the seller unknowingly has let down their normally-established preventative firewall.

Potential yard sale coin sellers only call back interested buyers less than 5% of the time: forgetfulness, low priority issue, distrust etc.

If one practices my above suggestion and is interested in learning more about tried and true sales techniques at yard sales that have served me well over many years, go to the following CCF thread (about half way down the page) entitled, 'need advice' that I responded to for a CCF neophyte who admittedly was new to collecting coins:

https://goccf.com/t/131041&SearchTerms=yard,sales

Happy hunting and remember that every rejection from a potential seller should be viewed as the insertion of another new structural building block in one's unstoppable and effective strategy structure built for the continual asking and setting up of the appointments essential for the purchase of coins at very reasonable rates:

the ultimate goal that 'WILL' be achieved if one NEVER GIVES UP.

IMHO,
mdpmedia



Bedrock of the Community
United States
20753 Posts
 Posted 10/31/2012  08:30 am  Show Profile   Bookmark this reply Add just carl to your friends list Get a Link to this Reply
Yet I've found over the years all you have to do is ASK. Occationally you may be told come back later when my Son, Daughter, friend, etc. is here to watch stuff.
NEVER, EVER, EVER give out your name, address, phone number to people at garage/yard/estate sales. ASKING for coins indicates your a coin collector or dealer. This could mean to some you have lots of money laying around at home. May as well say come rob me. Not a good, smart idea to give out personal info to strangers.
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mdpmedia's Avatar
United States
3546 Posts
 Posted 10/31/2012  1:47 pm  Show Profile   Bookmark this reply Add mdpmedia to your friends list Get a Link to this Reply

Quote:
NEVER, EVER, EVER give out your name, address, phone number to people at garage/yard/estate sales


This is an excellent point w/r/t divulging one's 'personal' address.

In terms of one's name, address, and phone number that is the reason it is advisable for a coin buyer to prepare in advance business or hobby cards having only a P.O. Box address and a phone number both of which should never be linked to one's personal residential address.

In fact it may also prove useful to members to consider registering for a 'free' phone number that is never linked to any address whatsoever. Just never use one's actual name and accurate residential address when signing up.

These type of numbers are completely 'free', provide unlimited 'free' long distance minutes and are readily available in virtually any major city throughout the USA.

Using these type of phone numbers described above one may consider establishing both a 'free' and 'local' number in each of the cities where targeted potential coin sellers may contact a coin buyer by always dialing a 'local' number.

Potential coin sellers discovered at yard sales or wherever will always gravitate toward dialing a 'local' phone number as opposed to making a LD call.

Try visiting

https://support.google.com/voice/bi...nswer=115061

for a narrative describing the functionality and benefits of this service currently available only in the 50 states to the best of my knowledge.

Hopefully, I have not violated any CCF policies by posting the above URL.

I have had several of these free Google 'local' phone numbers established in multiple cities for several years.

All of these 'local' numbers can be set up to be hard forwarded back to one's personal cell phone number bringing in the caller I.D. of whatever seller that is calling from any Google-ready city.

By using this strategy discretion and privacy are 'better' preserved (never completely preserved) w/r/t one's personal address, name, and personal telephone numbers etc.

On another note keep in mind, however, that any phone conversation can be unknowingly recorded by a third party like Google or by any entity desiring vocal information etc.

This fact should not be a big surprise since other forms of communication like POP3 email can always be sniffed out unless encryption software is implemented etc.

IMHO,
mdpmedia
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