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Would You Buy These?

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Author Previous TopicReplies: 5 / Views: 1,346Next Topic  
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DobermanOwner's Avatar
United States
125 Posts
 Posted 01/16/2013  03:33 am Show Profile   Bookmark this topic Add DobermanOwner to your friends list Get a Link to this Message Number of Subscribers

A friend of mine recently found his dad's old silver coins and brought them over. He had 250-300 silver coins. After I wiped the drool from my face and gave the coins a closer look, I noticed that about 99% of them were harshly cleaned (looks like someone took steel wool to them!). He had at least 75-100 Morgans in there, most of them were common dates at a quick glance.

His collection has a pretty cool story, too. He said that his grandfather was developing some land in South Dakota when he dug up a chest. He opened it and found 1,000 silver coins inside. He took them home, his wife cleaned them up and divided them between their three sons. The other two sons (friend's uncles) sold their coins a long time ago for scrap, so only a third of the origional find is still around.

He told me a few days ago that he wants to sell all the duplicates. My question: would you buy these since they have no numismatic value? What would you pay for a silver dime, quarter, half and dollar? He is willing to let them go below melt.
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DobermanOwner's Avatar
United States
125 Posts
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 01/16/2013  03:40 am  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
personally, I would offer him melt value. If he wants to take less, then that's his decision.
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CoinsKelly's Avatar
United States
3453 Posts
 Posted 01/16/2013  10:00 am  Show Profile   Bookmark this reply Add CoinsKelly to your friends list Get a Link to this Reply
I do purchase problem coins at melt and would most likely do so in this case if he was willing. If your goal is stacking, I see no problem in stacking history.
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rachums107's Avatar
United States
3345 Posts
 Posted 01/16/2013  10:08 am  Show Profile   Bookmark this reply Add rachums107 to your friends list Get a Link to this Reply
Makes me sick thinking about all that numisvalue lost...i would probably not buy them because I can get uncleaned silver for the same price
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stud722's Avatar
United States
1088 Posts
 Posted 01/16/2013  11:15 am  Show Profile   Bookmark this reply Add stud722 to your friends list Get a Link to this Reply
I agree with the rest of the bunch. At melt, it is a good deal. If not at melt, you can get numeristic value in a coin that will potentially increase over time. these coins being cleaned, lack what a lot of folks are looking for in a collectable coin.
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