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 Replies: 8 / Views: 1,203 |
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Valued Member
United States
264 Posts |
One of my bank tellers asked me Friday if I may be interested in a collection her father had. He passed away recently and the spouse doesn't want to keep the collection. She took some of the coins to a local dealer. I have a feeling the dealer either offered a very very low price for the coins she took. Or they may have been common coins they consider junk. I'm not sure at this point since I've not seen the collection. However, I know dealers are in the market to make money. We only have 2 local dealers and one of those is iffy in my book. Would a dealer normally offer 40% of sale value or such? I told her off the top of my head she should get at least spot value for the silver coins via ebay or such. I hope to get first dibs on anything she wants to sell. But will offer to help post the items on ebay if I can't afford them. fyi - father collected for some 60 odd years from time he was a kid till his death. |
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Pillar of the Community
United States
860 Posts |
A dealer might offer much less! He is in the business to make money and he
will see her as a one time customer, and he may find it hard to move some common coins, which I assume they are. By all means look at it and make an offer. I have made offers where I ignore foreign coins, do silver value on common, check for key dates and be fair, and make offer as "Get at least this from the dealer IMO or I will buy it". Don't be surprised if she says it is much more than the dealer offered. Remember that a "store" type of dealer has many business expenses a collector usually doesn't have, so I don't bad mouth the dealer, I just explain that I can offer more since I don't have a store.
Jim
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Pillar of the Community
United States
1208 Posts |
I see silver go for quite a bit less than spot on ebay everyday. |
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Pillar of the Community
United States
1934 Posts |
mad;, you asked, "Would a dealer normally offer 40% of sale value or such?"
A STEALER would.
I'm a collector. I sell lots of coins, too; but, I'm a "COLLECTOR." I have an ad in the paper, "COINS ! I buy coins and collections."
When I look at coin collections, it's tempting to offer 40, 50, 60, 70% of value. Off the top of my head, I think 70% value (as a collector) is a good benchmark for me. This includes the work I do to evaluate the collection the seller hasnt/cant/will not do.
I'm one of those people that operate under several principles, including, but not limited to:
1. Karma, Kismet, we get what we give so we give what we want...we lose what we steal...easy come, easy go.
2. Coins appreciate on a time line not defined by greed or my time lines; but, they appreciate.
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Member
United States
3242 Posts |
You offer a hand in selling what that teller has. and maybe she will let U have 1st pick  BUT be good and tell them real values of there coins  |
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Valued Member
United States
429 Posts |
Most likely there are a lot of common dates or the dealer has just bought a bunch of similar dates and wants to try to get a little profit out of it because they are worried that they will have to sit on it a long time. What I would be worried about is the fact that she has no idea what she has and the dealer was trying to take advantage of her. I think that desertgem and j_h_s had great advice on looking through it WITH her and letting her know what is there. No one is going to pay full price of what it is worth because most likely they are not interested in the entire collection and only want parts of it. If you are honest and upfront with her, she is more likely to have you help out with selling the collection and should give you the first shot at it.
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Pillar of the Community
United States
6326 Posts |
More often than not, most people are disappointed when they learn of the real value of their coins........they tend to think that they're worth a million bucks......
but as far as what an average dealer would offer......yeah....she'd be REAL disappointed if she got THAT offer !......not the best value for her money !
Just make a fair and honest offer that's good for both of you !
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Valued Member
 United States
264 Posts |
Thanks for all the replies guys. I'm with you j_h_s about the values. I'd already offered to let them borrow some of my books / magazines to get a rough estimate of what they have. I work on the same principles. Heck between my normal teller and this one I've filled 2 tubes of 1/2s in 40 and 70% silver. She just gave me a 40% the other day when was asking about looking at the collection. I figured I would offer at least 70-75% or even just to help her put it on ebay and I could bid there. Thanks again for the help. Will let you know what they have if they take me up on my offer of help. |
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Pillar of the Community
United States
764 Posts |
helping to sell a collection is often better than buying it all together. I would recommend offering to help sell coins for a commission: 5-10% depending upon how much work is needed to sell them. then use that commission to buy what you want to keep yourself.
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Replies: 8 / Views: 1,203 |
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Posted 06/01/2008 01:24 am
