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 Replies: 10 / Views: 1,628 |
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New Member
Canada
13 Posts |
I haven't been collecting for too long but a couple of times now I've been approached about coins that someone has from a relative who's passed on.
Today a friend told me that a friend of his father passed away and her mother has already brought over $800 worth to bank and there way still a lot more coins. The family can't be bothered to got through them so their going to the bank and getting face. He wanted to know if I'm interested?
What do you guys do? Go and offer face? Take the good stuff at a reasonable price? Give them a name of a local dealer? I'm kind of conflicted knowing there might be some good coins there but not sure how to handle the situation.
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Pillar of the Community
Canada
9168 Posts |
You have to go look that them and see what's left. If you have the $$ offer above face and see what happens.
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Pillar of the Community
Canada
1984 Posts |
I would take the "Pawn stars" approach. Look them over, see what you want, tell them the "retail value" is and then offer them wholesale, retail, or somewhere in between. They have already decided they don't want to bother going to the trouble of trying to get the "retail" value. There is nothing unfair about offering wholesale value for something when done on an open basis....that is what dealers do all the time.
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Pillar of the Community
Canada
576 Posts |
First of all make it clear that you're interested and that you would like a definite time to see them as soon as possible. Never, never put off an opportunity. Tell them if you see something you want you'll pay above face and make it worth their while.
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Pillar of the Community
United States
1391 Posts |
"The family can't be bothered to got through them so their going to the bank and getting face."
Really? I would just offer face and not feel bad about it. They are just going to take it to the bank any way. See if you can get it in a big lot. That way you are not really out anything if it isn't any good (e.g. you can just spend it at face).
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Pillar of the Community
United States
716 Posts |
When I had to put both of my parents in a nursing home, I could have had a yard sale and probably made some money selling some of my parents' possessions that they couldn't take with them. However, there were so many other things that needed my attention that I found it easier just to donate every thing to Goodwill.
Maybe this family is experiencing a similar situation. They are dealing with the loss of a family member, and maybe they are disposing of some of his possessions in the easiest way possible. Perhaps they have no idea of the value of the coin collection or where to go to find out. I would offer them a fair price above face value where both of you can come out ahead. I think you would sleep better at night knowing that you didn't take advantage of the situation.
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Rest in Peace
United States
7075 Posts |
You could offer them face value -- that's all they will get at the bank and if they have held the coins for you or made an appointment to sell them to you, you could give them a little extra for their time.
I hope you get the coins because I think it would be a lot of fun to search through them.
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Valued Member
United States
320 Posts |
One thing about people dealing with the loss of a loved one is that often they just want to see the things their loved one cherished go to a good home. While normally in negotiations you don't want to show enthusiasm, you might allow some to shine through.
I would go, check them out, and give your honest opinion. If you see some stellar pieces let them know and make sure to tell them you would love and aprpeciate the opportunity to purchase them.
You might just be surprised at how cheaply they would let them go and you would then not have any guilt afterward.
Edited by Secret Argent Man
12/02/2011 4:39 pm
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Pillar of the Community
United States
759 Posts |
Offer them face, sight unseen and offer to pay immediately. If something really good turns up, let your conscience decide whether or not to share some % of your gains via cash or the offer of a donation to the charity of their choice in the deceased's name.
You're still helping them over one hurdle associated with their loss and with no knowledge of what they have, there's no predatory intent.
Well, at least that's what I'd do. I've been where they are. Seriously, neither you nor they want any form of haggling or cherry picking. Now if someone in the family assumes the official or unofficial role of executor, that's a game changer.
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Valued Member
Canada
475 Posts |
Treat them properly and offer fair value for the coins. That way you can make a profit keep the ones you like and sleep at night!
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Valued Member
Canada
89 Posts |
I think you should buy them. They are getting face value at the bank anyway. I would love to buy them.
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Replies: 10 / Views: 1,628 |
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Posted 12/02/2011 12:07 pm
