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 Replies: 18 / Views: 4,150 |
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Valued Member
United States
396 Posts |
A fishing buddy, who has been a casual friend of mine for nearly 30 years, recently sold his house and is flying to his new home out of state tomorrow. His furniture was moved out yesterday and at our fishing group's meeting today (we kind of hang out near the beach and BS in the mornings) he was giving away odds and ends. One of the items was an old rusty tin candy box of rolls of dimes, nickels and quarters. Another buddy knew I collected and spoke up on my behalf. I think the guy would have just given me the coins, but I paid him face value. I got excited pretty quickly because some of the rolls had the word "silver" written on them. I managed to look through the nickels and Mercury dimes today. Found a 1938D nickel in the first roll I looked at and 38 War Nickels (1 42P, 2 42S, 11 43P, 13 44P, 8 45P, 2 45D, and 1 45 S), 20 Buffs, all common and all P (1 - 1919, 7 20's, 7 30's, and 5 no dates including two that someone used acid on). Newest nickel was a 1965. About 20 nice coins from the 60's and a few nice common ones from prior years.   I inventoried 125 Mercury dimes. No errors and no key dates. All had readable dates, most were G or VG, but there was a decent smattering of better grades. I've counted 353 Roosevelt silver dimes, but I haven't checked or inventoried them yet. I'll finish doing that tomorrow. (In ten rolls there were about ten clad dimes and a few rolls were short, but I sure won't complain.) When finished with the Roosevelt dimes, I'll start on the fifteen rolls of quarters. If they're all silver, I'll have over $3,000 silver melt value. After he gets his e-mail set up next week, I'm going to have to contact my buddy and offer him more than measly face value. ($226.00) |
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Valued Member
United States
183 Posts |
"After he gets his e-mail set up next week, I'm going to have to contact my buddy and offer him more than measly face value. ($226.00)"
I think if your going to keep them to hoard, then your probably okay, he knew they were silver, etc. But if you plan on selling them, then I would 100% give him alot more than $226 dollars. Bet it was alot of fun going through all that, seems like a blast!
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Pillar of the Community
United States
5202 Posts |
Nice score.
And be sure to thank your buddy for speaking up on your before to secure the haul on your behalf.
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Pillar of the Community
United States
4409 Posts |
Cool score. Good to have friends that keep you in mind like that. Have fun going through them!
-MV
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Valued Member
United States
330 Posts |
Great score!  |
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Pillar of the Community
United States
898 Posts |
Man oh man, I would love to have that. I am finishing up filling holes for Roosevelts & Jeffersons and would love to upgrade some. Washintons and Mercs are next and it would be so perfect.
Congrats and enjoy. What a nice friend.
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Valued Member
United States
177 Posts |
Good score! Keep us updated with whether or not the quarters turn out to contain silver!
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Valued Member
 United States
396 Posts |
Interim update.
I finished inventorying the dimes. There were 477 silver and a few nice 1965 clads. 125 mercs and the rest Roosevelts no Barber or earlier. Only 352, not 353 of the Roosevelts.
I've started the quarters. Opened the folders. Most were silver. A few clads were nice examples of 65, 66 and the newest coin of the entire lot, a single 1967 which tells me it's likely the entire lot had been sitting in a basement for 47 years.
There were three standing liberties. One might be a 1929, but is essentially dateless as are the other two.
I've inventoried through 1949. There were 53 30's and 194 40's. No key dates or DD's and no coins in really great condition, but all have readable dates.
I have to finish up with the 50's and 60's today.
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Valued Member
United States
396 Posts |
Finished the inventory. There were 610 silver quarters in all. Three essentially no date liberties and this one: This George has certainly been to war.   Is that a 52? Only the later coins, especially the 1964s had some nice examples close to AU or MS. Most of the quarters were of the normally well worn variety. No chest feathers until a few in the 1950s. Breakdown by decade. 30's 51 40's 194 50's 264 60's 98 1 1937 D, 4 1938 P, 2 1939 D, 2 1940 D - all in the G range. Nice, but not a '32 with a mint mark. No 55 D which wasn't too surprising. In total over $3,000 in silver melt value. I got the guy's cell phone number today, I'll call him on Monday. I understand from one of the guys that he didn't save these coins, his mother did. I know he was in a rush to get his house empty, but this was over the top. My wife loves the candy tin they were in. It was made in Germany. |
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Pillar of the Community
United States
898 Posts |
Wow what a find! Awesome update. Hope the phonecall went well!
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Valued Member
United States
396 Posts |
Made contact today. He was so busy moving in he didn't recognize who I was at first. He had not realized there was so much silver or that it was worth so much more than face. He suggested 45-55% split on sales which I immediately agreed to. I'll give him 50% of the market value of any coins I keep. (won't be too much above melt since most of the coins are common dates and not much above good condition in most cases) I wonder if it would make any sense to sell via ebay as opposed to a dealer. On ebay, bulk quarters and dimes seem to be going for about 10 to 15% over melt and when you take out PayPal-eBay's 13%+, full melt value would actually be better. |
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Pillar of the Community
United States
5202 Posts |
If it's $3K melt and you agreed on a 50 /50 split and you had $1500 to spare I would just buy his share out and keep them all.
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Valued Member
United States
258 Posts |
That's an awesome score, and good for you for being honest and splitting the returns! He obviously didn't know what he had! Keep us posted on what happens!
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Pillar of the Community
United States
3843 Posts |
It is likely that many local coin shops will offer well back of melt value for junk silver. I've heard that 80% to 90% of melt is fair although some dealers might pay a little bit more if they have a ready buyer. I've also heard the horror stories of coin shops offering 30% to 50% of melt if they think the seller isn't well versed in coins so your mileage may vary.
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Valued Member
United States
396 Posts |
Quote:
Joe2007
It is likely that many local coin shops will offer well back of melt value for junk silver. I've heard that 80% to 90% of melt is fair although some dealers might pay a little bit more if they have a ready buyer. I've also heard the horror stories of coin shops offering 30% to 50% of melt if they think the seller isn't well versed in coins so your mileage may vary. I spoke to a local guy and he was offering to buy at a 10% haircut. I'm guessing that's the best I could do with a dealer. Clearly they want to make a bit of money on the exchange. I've been watching ebay auctions and, after ebay fees, they net out to around melt. More work, but also more fun. |
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Valued Member
United States
153 Posts |
NICE HOARD OMG.
*jealous*
hahaha great catch my friend!
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Replies: 18 / Views: 4,150 |
Posted 07/17/2014 9:01 pm
