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 Replies: 20 / Views: 2,927 |
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Pillar of the Community
United States
882 Posts |
Ok, you always hear people saying they inherited some coins, don't know anything about them, and don't know what to do. Today I get a call from work that my neighbors mother wants me to look at some coins. I'm thinking, ok probably a little this and a little that... nothing worth while probably. I show up at her house and she has 2 microwave size boxes full of coins. Tells me she doesn't want to move them anymore and for me to take them home and see what there all worth. Now, 3 hours later, I finally get everything spread out on the living room floor and I am quite pleased with what is there. Lots of pennies and nickels. probably 10 shotgun original rolls of 1950's wheat cents. 20+ rolls of 1959-65 original shotgun rolls probably 40 cull-G Washington quarters4 cull-G morgans some proof franks 20+ silver dimes barber half, walkers, franks, etc. a gold certificate $10, a 1934 $50 pages and pages of foreign coins mostly great britain, mexican, and canadian coins maybe 20 dateless buffs And the iceing on the cake 1858 Seated half dollar in MS62++++ condition its in a hard plastic holder with the 4 screws around it so much more stuff, I'll try and take pictures on Wednesday since I have that day off. Ohh and to add to the list of things to do, I have like a good 50,000+ worth of wheats and coppers to look through. I'm sure some of you want to know the story behind all this. The lady is in her 60's and she bought all these coins at auctions like 40 years ago. I'm getting like the junk from what she already got rid of a couple years ago. She took a bunch of coins, namely a 1909s vdb and a bunch of morgans, to Oklahoma and sold them to a dealer to get $5,000 for them. I was told she had a gambling problem. But the coins I got she didn't take down there and she said she hasn't really even looked through them all. So maybe I can find something in this bag of wheats and coppers. So pretty much I have to see what I want to pay for all this. With that half dollar in there and all the silver I think its going to be in the 500 to 600 dollar range. Lots of the bulk of the coins is coppers and Jefferson nickles. So I will have to see what it all adds up to face wise, silver wise, and give her some cash for everything. This is my first collection I've had the chance to get since my grandma died. |
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Valued Member
United States
68 Posts |
sounds like you will be busy for awhile.
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Pillar of the Community
1844 Posts |
Seems like an offer of 500. to 600.00 is really low balling the value... I might be wrong but seems to me the offer would or should be closer to the 1000.+ mark? or higher
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Valued Member
United States
70 Posts |
Please keep us updated on your progress.
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Bedrock of the Community
United States
12437 Posts |
Quote:
With that half dollar in there and all the silver I think its going to be in the 500 to 600 dollar range. If the 1858 SLH is indeed MS-62+, it is worth more than that by itself |
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Pillar of the Community
 United States
882 Posts |
Like I said, I still have a lot of things to look over and add up so I was just making a guess. I'll try and get some pics up tonight if I can.
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Pillar of the Community
United States
2335 Posts |
I'm always a little surprised when people start telling someone else what they should pay for something. When I buy coins I don't need for my collection, or gold/silver bullion or scrap, I am buying for resale. It's not worth my time to buy if I can't make a profit.
Having said that, I do believe there is a difference between making a fair profit & ripping someone off. It seems to me that most legitimate dealers will pay 5-10% less than greysheet bid; in general I will pay that or a little more. Based on the list provided I'd probably pay more than $500-600 for this collection. How much more would depend on actual counts on the silver, the conditon of the notes & the quantity/quality of the foreign coins.
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Bedrock of the Community
United States
11951 Posts |
I would not tell someone else what to pay ... I buy and sell collection. Just the 50,000 wheat cents is $500 face .. I pay 1 1/2 cents and sell for 2 cents ... so ... should be $750 just for the lincolns.
As for the silver, if I can sell at 10 times face I pay 8 times face .. take out what I like sell the rest. Just saying this .. if it helps ... I think everyone should do what they think is right ..
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Rest in Peace
United States
3039 Posts |
All this talk is about ethics or lack of it. Remember the post a while back about someone who intercepted an old man getting ready to put coins in a Coinstar machine. The poster seemed so proud that he paid face for a bunch of silver coins. He got a lot of flak (& unfortunately some praise) from the forum members for his good "fortune."
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Pillar of the Community
United States
882 Posts |
You guys need to calm down. I simply stated that I haven't even looked through all the coins yet and that I was guessing it was going to cost me in a certain price range. Now, that I have taken the time to go through every coin and got everything organized, I can offer her what I want to pay for the collection. But now I will post some pics like said I would.
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Pillar of the Community
United States
882 Posts |
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Pillar of the Community
United States
882 Posts |
This is just the US coins she had. I didn't take pictures of the foreign coins because I don't want to go through that stuff yet. I went through all cents I had in a canvas bag and got maybe a roll of wheats out of it. The rest are just coppers. And with some even better news, my neighbors mother txt me today and said she found some more coins in the closet some where in her house. She was very pleased with what I offered her for the first batch and she wants me to look through the others she had. I asked her how much there was and she just said, A lot... Might I remind you guys, she bought these coins with her husband at auctions. She took some coins to a dealer already and got prices from them. Not to mention that she seemed very knowledgable about the value of the coins to begine with. Shes happy with what I've been offering her for them, I'm very happy with the selection she has in these collections. The reason she wants to get rid of the coins now is because the assisted living people she hired to take care of her parents stole a bunch of her coins already and all her jewelry. She doesn't even know what coins are in the boxes she gave me and I'm taking the time to look through them all. Everythings going on paper and nothings just slipping into my pocket because she never would of known anyways. |
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Bedrock of the Community
United States
12437 Posts |
Just a few comments and questions- what is with all of the common circ nickels in 2x2s? Most of the silver appears to be of the common, well-worn variety unless you got some semi-keys or keys hiding in there. What happened to that poor $2? The $10 with the gold seal is a North Africa note, a nice WWII emergency note, probably worth $30-40. As for the SLH, I think I am seeing some light wear so I would recommend posting some better pics and of both sides. It would be worthwhile to image it outside of the Capitol holder since it might have some scuffs on it like they usually do. Greysheet AU is $155 and MS60 is $315. With an AU SLH, your $5-600 estimate is probably quite close to what it should be  |
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Pillar of the Community
United States
882 Posts |
Yes, that picture does no justice for that SLH. I will try and get some better ones, I just don't feel like getting the tripod and spot lights out. But I think it may be slightly better than a MS60. The lines on the shield, the horizontal ones are straight and clearly visible. But the actual coin, the even smaller stripes that go up and down are also crisp and not worn at all. If that helps. But I will take some pics tomorrow, I hope.
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Bedrock of the Community
United States
12437 Posts |
Highest points for wear are Liberty's head, breast, and right knee on the obverse and the top of the eagle's head and top of the wings on the reverse.
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Pillar of the Community
United States
6381 Posts |
The 1858 half has obvious wear on the high points and lots of rub in the fields. It looks like most of the luster is gone. Assuming it is free of hairlines (I don't see any) I would give it an AU-50.
I love checking out collections; I expect you are enjoying it as well. Hopefully you will work out a mutually satisfying deal with the owner. Good luck!
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Replies: 20 / Views: 2,927 |
Posted 10/06/2009 08:59 am
