Some Advice On A Possible Purchase - Coin Community Forum

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Author	Replies: 6 / Views: 932
mmerc20 Valued Member United States 372 Posts	Posted 03/01/2009 11:13 pm I have found an unclaimed property auction online that has one lot that I have thought about bidding on. I know the site is legit and have actually visited the office to view items in the distant past. The thing is, I am not necessarily thinking of bidding on it to keep, but possibly resell and I am trying to think of a max bid that I could make a little extra $$$ before I deploy. This is what is included in the lot: 70 Morgan dollars 91 Peace dollars 3, 1980 $50 Canadian gold Now, I don't know the dates on the dollars, so it could be hit or miss. But, even at the spot (as of today) they would be $1631.28, but we all know you can't buy a Morgan/Peace for spot. On average I have seen them selling for $16 or so a piece. Which would be $2576. Then of course there are the 3 $50 gold pieces. Spot on those would be $2826 total, but perhaps they could sell for a little over $1000 each. So I am wondering what the heck should I do for a high bid?! At spot alone, everything is around $4457. Do I want to only bid the spot? Grrrr....I don't know what to do! Mike PS: Here is the picture from the auction Image: coinlot.jpg 53.19 KB Report this Post to the Staff

BH1964 Bedrock of the Community United States 10982 Posts	Posted 03/01/2009 11:30 pm If it's an "unclaimed property auction" I certainly wouldn't bid over spot. The silver dollars have to be considered junk. I realize any silver dollar can bring a premium and usually does but from the pics and the nature of the auction, $10 each seems about right. Any premium you pay over spot will be tough to flip short term. ANA #R3154474 Report this Post to the Staff
xshift Pillar of the Community United States 2669 Posts	Posted 03/01/2009 11:30 pm If it was me, I would bid slightly over spot. Anything more and there wouldn't be much profit-wise when it comes time to resell them. Great lot there, good luck and let us know how you do! Report this Post to the Staff
GO Moderator United States 6563 Posts	Posted 03/01/2009 11:31 pm Anything over spot is a gamble unless you have a chance to have the coins in hand Report this Post to the Staff
vermontensium Moderator United States 16677 Posts	Posted 03/01/2009 11:43 pm I agree with slightly over spot on the bid. You never know but the lot could contain some keys or maybe some CC's which would be a plus. Good luck. Let us know the outcome swcoin.ecrater.com Report this Post to the Staff
just carl Bedrock of the Community United States 20753 Posts	Posted 03/02/2009 4:43 pm If it was me I'd bid something rediculously low. If I then did get it, no problems. The problems I see is people keep saying something is spot value. Maybe yes and maybe no. Like everything else with coins, if you can sell them for X, then they are worth X. If no one would buy them for that, then they are worth less. I would think you'ld do some research as to attempting to resell them prior to buying them. Report this Post to the Staff
murty Pillar of the Community United States 1353 Posts	Posted 03/02/2009 5:16 pm Spot is a good way to go. Make sure there is no buyers fee!! Report this Post to the Staff
	Replies: 6 / Views: 932

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