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New Member Handling Relative's Estate Needs Help

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Pillar of the Community
United States
5207 Posts
 Posted 09/14/2020  11:20 am  Show Profile   Bookmark this reply Add Chase007 to your friends list Get a Link to this Reply

Quote:
I don't know why so many people don't trust LCS dealers?

Where can we start? first off not all the LCD are untrustworthy,I've been collecting, buying, selling for over 40 years. I have met over a dz. coin dealers and out of the dz I have felt comfortable with only TWO dealers that I can fully trust their fair dealing and honesty! We all know they have expenses to pay and they need to make a living ,but when it came right down to their fair and honest business practices particularly selling them quantity of coins and notes and asking for their evaluation only Two passed and I have been continuously doing business with them for a long time.So yes I agree with being cautious and definitely check with more than just one dealer for estimates and do your own leg work,research,ask questions,compare prices to online price guides,sites, auctions and ebay.
New Member
United States
8 Posts
 Posted 09/14/2020  5:59 pm  Show Profile   Bookmark this reply Add MDC to your friends list Get a Link to this Reply
I was also interested in seeing comments from members as to:

1) whether or not these coins are too common to interest a dealer much
(I haven't posted the US coins, but they are heavy on the early 20th century small denominations); and,

2) how "bad" is it to prefer to sell the collection as a lot, rather than individually or in small groups.

BTW, I know the "cut and paste" job messed up my formatting but I thought it was clear that I used the NGC/Sheldon grading scale (numbers only).

The dollar amounts I gave represent what I have gleaned from price guides and online listings, and, they do not indicate what I expect to receive for any particular coin. Specifically, I would NOT look to get "book value".

Thanks again.


Pillar of the Community
United States
729 Posts
 Posted 09/14/2020  7:29 pm  Show Profile   Bookmark this reply Add chipjones to your friends list Get a Link to this Reply
A lot of dealers will not be interested in your foreign stuff unless it's silver and then will only offer about 60% of melt or less.
Pillar of the Community
Canada
3694 Posts
 Posted 09/14/2020  8:09 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
@MDCl looking at the prices, They seem way higher than Canadian "trends"

for Example, Canada:

1 cent 1916 20 large 7.00

trends lists VF 20 for $2 canadian

[3] 1921 45, 30, 25 16.00

"Trends" lists XF 40 at $7.0
VF 20 at $2.0 and
F12 at $1.0

From what I can see, the vast majority of the Canadian coins would have minimal value aside from the silver, even in Canada, because these are items the dealers have buckets of. especially modern small cents unless they are mint state. Book value is not very meaningful for modern circulated 1 cent coins.

there is probably even less value in the US.
Likewise for the foreign coins-silver value and they rest by the pound in most cases.

Concerning The Canadian Paper Dollar 1898 G 15 300.00

My (older) paper money catalogue lists that as $225 to $375 in F, depending on the variety. That would the most interest for a canadian dealer. I don't know what the US market would be like.




Edited by oriole
09/15/2020 06:48 am
New Member
United States
8 Posts
 Posted 09/15/2020  3:53 pm  Show Profile   Bookmark this reply Add MDC to your friends list Get a Link to this Reply
thanks for the real world input, oriole

note: the G for the 1898 bill was the series

do you think that there would be much interest in the older Canadian sets ?
Edited by MDC
09/15/2020 4:04 pm
Pillar of the Community
United Kingdom
7600 Posts
 Posted 09/15/2020  4:58 pm  Show Profile   Check NumisRob's eBay Listings Bookmark this reply Add NumisRob to your friends list Get a Link to this Reply

Quote:
I was also interested in seeing comments from members as to:

1) whether or not these coins are too common to interest a dealer much


I can tell you immediately that none of the French coins listed would interest a dealer - they are all common in circulated condition and are the sort of coins my local dealer puts in his 10 pence junk tray.

The UK sixpence, shilling, florin and halfcrown coins dated 1946 or earlier are worth silver value. The other UK coins are common junk tray items. other than the 1970 proof set. That's very common but there is a market for them, and they go for about 20 on eBay.

The Swiss 1968 1 franc, 1968 5 francs, all the 10 rappen coins and all the post-1939 20 rappen coins are all still current in Switzerland - if you know anyone planning a trip there, you could sell them to him or her for a discount off face value. The pre-1968 half and one-franc coins are silver and worth more than face value.

The Greek, Spanish, Italian and post-1948 German coins are all common modern European coins that were in use before the introduction of the Euro. Dealers' junk trays are full to the brim of these coins. The German ones can still be exchanged at banks in Germany for their value in Euros, if you know anyone who's going there.

Is the 1959 Austrian coin really a 50 Schilling? That's a 33.5mm diameter commemorative silver coin weighing 20g, and would be worth well over $2.50 in silver content. If it's actually a small aluminium 50 groschen, then it's worth practically nothing.

Your 1947 Irish sixpence would need to be virtually Uncirculated to be worth anything like $9 - a circulated one would be just another junk box coin.

I don't know where you got the valuation for the 1936-A German 5 reichs-pfennig. There are two varieties of this coin but both are very common, and again it's the sort of coin that in the UK I'd expect to pull out of a dealer's junk tray or maybe buy for a few pounds in a bag with a lot of similar coins.

I'm sorry, I don't want to be pessimistic, but I can't see that many of your European coins are going to interest a dealer, other than the silver ones.
Pillar of the Community
Canada
3694 Posts
 Posted 09/15/2020  5:20 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply

Quote:
do you think that there would be much interest in the older Canadian sets


The Canadian sets 1961-1967 each contain 1.11 oz of silver. Here in Canada they sell for silver value.

Some of the sets from 1973 and newer have a silver dollar. There were a number of different types of sets issued in that period. The regular mint sets did not have a silver dollar, but the specimen and proof ones did. In any case it is easy to tell the silver dollar from the nickel ones at sight, since they are bigger and look silvery. Unfortunately they are only 50% silver (0.38 troy oz), but at least it is something.

Unfortunately they are really not worth much more than the silver value. Again, dealers get them all the time and the resale market is quite poor. Of course In the US the base metal coins cannot even be spent, so that those would have little value.
Edited by oriole
09/15/2020 5:24 pm
Pillar of the Community
Canada
3694 Posts
 Posted 09/15/2020  5:27 pm  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
Also, the "G" series 1898 $1 is listed as Can $250 in Fine
New Member
United States
8 Posts
 Posted 09/18/2020  9:39 pm  Show Profile   Bookmark this reply Add MDC to your friends list Get a Link to this Reply
thanks; this is all good information, if not good news

as to the 5 Reichspfennig coin, NumisRob, you are right; I did not use the value for the Weimar Republic "wheat ears" variety; it should be $2.00

as to the Canadian bill, it might pass as VG-20 (see the thread I started in the Canadian sub-forum) so I'll stick at 300 US $
Edited by MDC
09/18/2020 10:38 pm
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United States
28774 Posts
 Posted 10/09/2020  09:46 am  Show Profile   Check nss-52's eBay Listings Bookmark this reply Add nss-52 to your friends list Get a Link to this Reply
Just be aware, per board rules, you are not yet allowed to sell these items here.
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New Member
United States
16 Posts
 Posted 10/12/2020  10:49 pm  Show Profile   Bookmark this reply Add NJV to your friends list Get a Link to this Reply
I'm surprised to hear about wariness regarding dealers and shop owners. My local shop owner appears to love his customers more than coins and while I know he wants to make a living, he's also keen to keep relationships with customers. He shocked me one day by brazenly passing a 1oz gold coin around to everyone in his small shop (including small children) so we could see what it felt like in our hands. He frequently encourages people to hold the coins.
Is it more of a jungle out there than I realized?
I had figured people go into owning coin shops for the love of coins, not to get rich. Am I living in a bubble?
I hope you post back at the end of this adventure and tell us how you did. It actually sounds like fun.
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