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Help! Buying A Collection!

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Pillar of the Community
United States
2143 Posts
 Posted 09/05/2019  2:35 pm  Show Profile   Bookmark this reply Add trdhrdr007 to your friends list Get a Link to this Reply
The first really big collection I bought almost bit me in the behind. It was being handled by an estate sale company I deal with as their "coin & jewelry" buyer. I made an offer on the junk part of the collection on Friday afternoon. By the time the offer made the rounds of the heirs for approval it was the following Tuesday. By that time the spot price had dropped enough to knock $2000 off the value. That was more than twice my profit. Luckily everyone understood and I was able to renegotiate. Since then I always specify that the offer is only good for a specific time period and/or as long as spot doesn't move.

I also buy sterling flatware and hollow ware (teapots, plates, creamers, etc). Better than 90% of those go to the refiner. The refiner doesn't have a minimum but it's not worth shipping until I've accumulated a certain amount. I've had several times where I didn't have quite enough to ship....but enough to where it hurt when spot prices dropped suddenly.
Bedrock of the Community
Australia
16453 Posts
 Posted 09/05/2019  7:34 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
That makes it a great opportunity for the OP to take his time and do a nice cherry pick !
Pillar of the Community
Canada
2717 Posts
 Posted 09/05/2019  7:55 pm  Show Profile   Check silverwolf's eBay Listings Bookmark this reply Add silverwolf to your friends list Get a Link to this Reply
i buy and sell silver all the time, so I agree with most information you have already received,, all the bullion, and silver sets, I would offer 90% of spot price, for them, the box of peace and Morgan dollars, I would do a thorough look through for keys and semi keys, if there are none, I would offer, close to spot price, as long as they are not beaters. you will always get more than spot for silver dollars. as far as bulk, half dollars, and quarters, etc. if nothing is marked as keys, I would offer 90% of spot.. and for the cents. I would have no idea, without seeing them...

so to sum up my thoughts. you can't go wrong, if you offer 90% of spot value, for everything silver, and if there is any upside it is yours, but don't be afraid to say, this coin, or these 10 coins are worth more than that, because that goes a long way when trying to close a deal..

where dealer's may say every silver dollar is worth 18$ and you say well a couple of them are worth 22$, it may sway the deal your way..
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