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 Replies: 14 / Views: 5,796 |
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Pillar of the Community
United States
5850 Posts |
As I mentioned in an earlier thread, I recently picked up a box of half dollars from my local bank in the hopes that I might find some silver. No such luck. And then I was stuck with a rather heavy box of half dollars that I didn't know what to do with. Well, today over lunch I brought it by my LCS and asked whether he would accept them as payment. He wasn't thrilled, but since I'm a regular customer (and I certainly don't do anything like this on a regular basis), he said he would. I picked 5 coins as upgrades to my 7070 album that totaled a little over $600 and we negotiated down to exactly $500. His prices on coins are always a bit high and I'm sure I overpaid for each coin, but I don't mind since it was a fun way to deal with that box of halves. And so, without further ado: 1853 Liberty Seated half dime (Arrows):   1861 Liberty Seated Half Dime (Probably polished, but good details):   1853 Three Cent Silver:   1866 Three Cent Nickel:   1909 Liberty Head ("Barber") Quarter:   I'm not crazy about the Three Cent Nickel now that I've photographed it under high magnification and can see the green spots and corrosion that I didn't see while inspecting it at the store, but I think the rest are definitely keepers. |
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Valued Member
United States
153 Posts |
$500? yeah sorry dude sounds like you really got royally screwed by this dealer. I would venture to say you could have got those same coins on ebay for under $100. If you really enjoy those pieces though and money is not a big object, then that is what matters. The 7070 is a great set to behold but finding nice pieces can be quite expensive. I would know since I put one together myself. IMO, you could have got some much nicer slabbed examples for a fraction of what you paid. I was able to find some nice raw examples on ebay.. Although if I had to do it over again, I probably would have paid a little extra for each coin and bought all of the coins slabbed to insure that they are the grade desired and problem-free. If you want, you can give me the next $500 to invest and buy some better deals for you. I only charge a standard 10% :) Edited by coins4fun
12/12/2012 3:06 pm
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Pillar of the Community
 United States
5850 Posts |
Quote:I would venture to say you could have got those same coins on ebay for under $100 Um, no. I don't think so, sorry. I definitely overpaid, but not by that much. Ah well, as I said, this was just a fun way to unload an otherwise useless box of half dollars and gave me an excuse to buy some coins for my album. |
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Rest in Peace
United States
10625 Posts |
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Pillar of the Community
United States
5850 Posts |
Looks like it. The 1861 seems to be as well (right below "STATES" on the obverse).
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Valued Member
United States
153 Posts |
The dealer must have quoted his prices from the Yeoman's RedBook 2030. Seriously though, while I enjoy going to coin shows, and I think most dealers are honest, there are definetly a few crooks out there trying to scam people out of their hard earned money. It does seem to me like these 5 coins should not retail for more than $100-200 in any case. This is not a cheap set to complete in any grade really, and I admire anyone who takes up the challenge seriously. However, you should try to find the nicest coins as cheaply as possible so you will have something extra left for the Gold Page. Look forward to hearing more about your collection! |
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Pillar of the Community
United States
5850 Posts |
Quote:
Look forward to hearing more about your collection! Thanks. Feel free to click on the link in my sig line... |
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Pillar of the Community
United States
6384 Posts |
I would agree you probably overpaid. A box of halves isn't easy to spend but your bank should have had no problem accepting them as a deposit. Based on your images I'd grade your new coins as follows (with prices at those grades taken from the Coin Market retail guide): 1853 Arrows Half Dime: EF-40 details, cleaned ($58 problem-free). 1861 Half Dime: AU-58, cleaned ($145 for problem-free MS-60). 1853 3-cent silver: AU-50 ($145). 1866 3-cent nickel: AU detail, environmental damage ($60 problem-free AU-50). 1909 Barber quarter: AU-50 ($95). That adds up to $503. The three problem coins should have been discounted 20-40% IMO and the overall price should be another 10% below catalog retail (at least) before I'd start thinking I got a good deal. Still, the Barber looks very nice and the 3-cent silver is likewise a keeper. If you like the coins you don't need to make any apologies for what you decide to add to the collection. No reason to stop checking rolls though; there is still some silver our there! |
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Rest in Peace
United States
7075 Posts |
Please go to the 'Project 100K' thread and post your use of $500 worth of halfs.  |
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Bedrock of the Community
United States
10038 Posts |
Stunning set on your website - looking forward to when/if I can get one together like that.
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Pillar of the Community
United States
5850 Posts |
Quote:
Please go to the 'Project 100K' thread and post your use of $500 worth of halfs Done! |
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Pillar of the Community
Israel
2420 Posts |
I just love the look of the barber  . I'd sell the 3 cent nickel (I'd estimate it would fetch 15$ at most), it's not as nice as the rest of them. |
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Pillar of the Community
United States
3843 Posts |
I have to agree with the others. If I were you I wouldn't continue to purchase items from that dealer. There are better alternatives out there with all of the prominent dealers that now have their inventories online.
Edited by Joe2007
12/13/2012 11:19 am
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Pillar of the Community
United States
5850 Posts |
Don't worry. As I said, I know his coin prices are too high and this is the first time I have ever actually bought coins from him. I usually buy currency and supplies from him (his prices are much more reasonable on that stuff) and go to shows to buy coins. This was a one-time thing, just a fun way to dump a box of unwanted half dollars.
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Rest in Peace
United States
7075 Posts |
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Replies: 14 / Views: 5,796 |
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Posted 12/12/2012 3:17 pm
