Paying $10 Each For Bulk Merc Dimes? What

"A fool and his/her money are soon parted"

Or she saw something you didn't, the world may never know.

I have seen this, too. About 15 years ago I went to an auction that had coins. I was interested in the Morgan dollars, but one guy kept buying them at double what they should be going for. Someone nicely asked him why he was spending so much and he became really defensive. He claimed that he was buying them for the silver content, but then I pointed out that the silver value by itself was worth less than half of what he was paying. He became even more irate and claimed that a local smelter was paying more for these than he was paying so he was going to make a big profit. A bunch of us laughed at that point and walked away from the auction altogether. The guy was either a shill or completely ignorant. I have only been to one other auction that had coins since then and the same thing went on, so I don't bother anymore.

I've been to a lot of general auctions where a mixed variety of goods are sold. Any coins that show up generally go for multiples of market price. Having said that, I once bought a mint issued commemorative set with a gold & silver coin for around 25% of melt. At the same auction junk silver was selling for at least twice melt. Strange part was the mint set had all the original paperwork that clearly showed the precious metal content.

Out here in Kansas some of those auctions, stuff goes crazy, I think a unc 1999 susun B and 2000 sacagaewea in a littleton mint package sold for like $22.50.. at the auction they were selling choice x the money, one sheet had a Peace dollar and 4 ikes (non silver) and 6 susan b dollars. The guy then bought it at $37.50, I assumed he would just take the Peace dollar but no he took everything for $412.50... (same guy as before) he bought most of the coins for crazy prices.. But as hfjacinto said "A fool and his money are soon parted"

Did you happen to get her name and number? I've got almost 2 rolls of circulated commons I would be willing to part with at that price...

I've attended several live auctions, and I've never seen a bargain to be had.

@trdhrdr007 - I was just at an auction and saw the same thing. I purchased a lot of proof Presidential dollars (w/o GHWB) in the mint holders for @ $55. And then a lot of 20 assorted mint sets from P and D, including 2 1976 (Type I dollar), all in original packaging for about $100. Considering that the face value of these mint sets was more than that as they were mostly from 2007 - 2018. I think I did better than OK. But then all the single silver coins were going for sometimes twice as much as they were worth. Then a lot of 5 1932-D quarters came up (all G-F grades) and I got it for $250. I don't try to figure these things out anymore. I just shoot my shot and if I get, I get it.