| Author |
 Replies: 26 / Views: 3,405 |
|
New Member
United States
17 Posts |
I am an amateur pawn broker, I have accumulated a nice little collection of coins. My problem is that I have a lot of money tied up in them and I am not sure what to price the collection. If I take them to my precious metal dealer they will only offer me %98 of spot. I put an add on craigslist and I have a buyer for all the morgans at $26/ea. However I am worried that some of the coins might have high numismatic value? I am frustrated because I do not have the knowledge on coins to price the collection myself. I am planning on just doing spot + a few dollars on each? Here is a list, none of them are in SPECTACULAR condition. Some Morgans are in a cardboard sleeve but none are graded. The Kennedy's are bright and shiny! As are the Peace dollars but they are still circulated I am sorry to ask so much but I am wondering if any of these coins hold high collectors value? What should I sell this whole collection for? I am looking for cash money today. Morgan 1880 Morgan 1880 - O Morgan 1881 Morgan 1881 - O Morgan 1884 Morgan 1889 - O Morgan 1889 - O Morgan 1890 - O Morgan 1897 - O Morgan 1921 Morgan 1891 - S Morgan 1880 - O Morgan 1887 Morgan 1884 - O Morgan 1921 - Morgan 1884 - O Morgan 1881 Morgan 1880 Morgan 1883 Peace dollar 1922 Peace dollar 1922 - S Peace dollar 1923 Peace dollar 1923 Peace dollar 1923 Peace dollar 1925 Kennedy half 1964 Kennedy half 1964 Kennedy half 1964 Kennedy half 1964 Kennedy half 1964 Kennedy half 1964 Kennedy half 1964 Franklin half 1951 Franklin half 1950 Walking Liberty half 1921 - S Quarter 1939 Quarter 1940 Quarter 1941 Quarter 1944 Quarter 1945 - D Quarter 1946 - D Quarter 1956 Quarter 1956 Quarter 1957 Quarter 1962 - D Quarter 1962 Quarter 1962 - D Quarter 1963 Quarter 1964 Barber dime 1921 Barber dime 1934 Barber dime 1934 Barber dime 1937 Barber dime 1937 Barber dime 1939 Barber dime 1939 Barber dime 1941 Barber dime 1941 Barber dime 1942 Barber dime 1942 Barber dime 1943 Barber dime 1943 Barber dime 1944 Barber dime 1944 Barber dime 1945 Dime 1956 - D Dime 1959 - D Dime 1959 - D I have to start studying these coins because right now I'm a Class 1 Sucker  |
|
|
|
Pillar of the Community
United States
4897 Posts |
 Pics would help. Scanned your list quickly looks like a lot of common dates. If you need to turn for cash 98% of spot is not a bad deal. If you have time sell them on the bay. Oh yeah.... I'm a bit confused... Quote:
I am an amateur pawn broker Arent Pawn Brokers liscensed? How can you be an amateur broker?  Edited by amida17
06/22/2012 1:21 pm
|
|
Pillar of the Community
United States
8516 Posts |
Without seeing pics its hard to even give a ballpark figure. You would just have to go with melt. If you need the money fast, go to a few coin shops and get their best offers and let them know you're going to let them go to highest offer.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
|
|
Pillar of the Community
United States
7840 Posts |
Someone at the mint must of had a wild time making those 1921 through 1945 "Barber" dimes!   Those are all common dates, nothing rare (1921-S Walker has numismatic value), unless the are UNC, an offer at 98% of spot, I would take it! Roughly $700 USD according to one of many precious metals calculators; http://www.silvercoinstoday.com/sil...-calculator/Edited by oih82w8
06/22/2012 2:30 pm
|
|
New Member
 United States
17 Posts |
Sorry they are all Mecury dimes. I have $900 on the collection now
|
|
Pillar of the Community
United States
1116 Posts |
GoldenRing89 in todays market where the price of silver is falling you are left with a decision to make:
1: Take the offer of 98% of spot and lose $200.
2: Purchase other lower priced coins to bring your dollar cost average down where if you get another offer of 98% of spost you may lose less money.
3: Sit on the coins and do nothing and hope that the price of silver will rise enough so that you can either lose no money or make a little.
Hoping is not a good investment strategy. Of the remaining options I would do the second option of purchasing at a lower price to bring down my overall average cost where I have the possibility of making some money at a later time.
However, the first question would be how bad do I want to lose $200 and do I need the money to pay off other bills. That you should address first.
Good luck to you. All of us here have had to face that possibility at one time or another.
|
|
Bedrock of the Community
United States
20753 Posts |
What you need is a copy of the Red Book by Whitman Publishing. Or a copy of the Numismedia magazine. Or just do a search on the internet for price guides. It is basically true that the ones you listed appear to be must normal coins. HOWEVER, without knowing some may still be worth a lot of money. For example if you look close at the 1942 Mercury dime it could be a 42/41. Same with many coins where something makes normal coins worth a lot. |
|
New Member
United States
17 Posts |
Thanks a lot for all the reply's. I just think that the coins are sooo cool and to me they are worth a lot more than just spot price. I am not pressed for money, but I paid too much for some of the morgans. I am just looking to get TOP DOLLAR because I think the coins are so neat and it is a large collection. I bought them 1-by-1 over the counter from the public and they have not been searched by anyone who knows what they are looking at.
This man emailed me on craigslist, I had an add posted for morgans $26/ea and he said that he would take them at the price quoted, and asked for more. I sent him the list and said $900. I called him and he said that he will buy them, and bring cash tomorrow to pick them up. However I am sure that when he gets here it will be a whole nother story!
im not looking to speculate on the silver market
|
|
Rest in Peace
United States
4078 Posts |
This is scary! Your knowledge of coin's and value tells me you need to stop all your buying/selling. You said, " you are not pressed for money" but, you are dealing without enough information. You can learn much from this Coin Community Family.
|
|
Pillar of the Community
United States
2120 Posts |
In my opinion, If you just want to get rid of these and get FMV (Fair Market Value); Sell them on ebay in one large lot. You most likely will get a tiny bit over spot for these. Make sure you list them under the Lot section of US coins. That will help reach the right buyers. Take picture of each coin (a group shot of 9 coins, 3x3 is fine) and put them along with the auction. Good pictures are a BIG deal to a lot of people. This way they know they aren't Culls/Cleaned/Damaged However, I would separate the 1921-S Half into it's own auction. Since it does carry a premium over silver value. List that one also in the proper section. Also, You should take photos of the 1942 Dimes and post them here. There is a Variety that can be worth a lot more, and we can help identify if they are that variety. A good close up of the date is best. |
|
Pillar of the Community
United States
2661 Posts |
You may have a very hard time getting $900. I just bought 4 nice Peace $'s and a very nice 53 Franklin for $90 today from a Pawnbroker
|
|
Pillar of the Community
United States
1116 Posts |
GoldenRing89 if you decide that you are going to sell to someone off of craigslist it would be wise to met in a public place to make the transaction, and from the way that you worded your response it sounds like you expecting to be lowballed when you meet this individual. I hope that that will not be the case but sometimes your gut feeling is correct and you should follow it.
You do have the start towards a fine modest collection should you decide to stay with it. Best of luck in whatever you decide.
How long did it take for you to put your collection together?
|
|
New Member
United States
17 Posts |
|
|
Pillar of the Community
United States
8516 Posts |
That 42 Philly is a good looking coin ! ( I just enlarged the pic and it looks like there might be a mint mark but I can't tell for sure. )
Oregon coin geek.....*** GO BEAVS ! ! ! ***
Edited by 52Raymo
06/22/2012 8:04 pm
|
|
Bedrock of the Community
Australia
21786 Posts |
You will certainly get less money 'dumping' them, than if you take some effort selling them in small lots over a period of time, to selected buyers who may be interested in various parts of the accumulation only.
I note that you have 'accumulated' these pieces, I guess over a period of time with several purchases. Perhaps that is the way to sell them for maximum profit, with several sales.
There are big differences between enthusiastic and lazy sellers. Numismatic re sellers rely on this to make a profit. That is one way coin businesses make an income.
A good investor will dollar cost average his way into a position, and dollar profit average his way out of a position.
You have done the first bit.
Edited by sel_69l
06/22/2012 8:23 pm
|
|
New Member
United States
17 Posts |
I mistakenly paid $27/ea for the morgans which isn't terrible but I was looking to resell for profit. The kennedy's I paid spot which was too much but on the rest I paid around.40cent/gram planning to double up. like I said I bought each coin individually or 3 or 4 at a time, from the public and they have not been searched. Plus my ebay account is limited to only 10 separate transactions or $300 / month, whichever comes first. ebay says its because its a new account and I listed too much too fast. I h82ebay, and jump through their hoops and pay their fee's. After all the ebay fee's I have paid already, they should send me flowers. I have this really cool Mickey Mouse 1oz .999 silver round. In a nice little felt box and all, I dont want to sell it for scrap. but one day I might end up with a shop full of coins and Mikey mouse items I really like, and no cash in the bank. ebay has a monopoly, your almost guaranteed to sell for good price's. Craigslist and the flea market not so much, unless you want to sell for dirt cheap or sit on them forever. |
| |
Replies: 26 / Views: 3,405 |
Posted 06/22/2012 1:04 pm
