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 Replies: 9 / Views: 1,136 |
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Valued Member
United States
167 Posts |
Whats up CCF! Im looking for a little help on what to do. A friend of mine has about 30 Silver Dollars he is willing to sell me for 17-20 Bucks Each. They are a mixture of Morgans and Peace and are all common dates. The majority of them have been cleaned and polished. I would like to buy them all and sell them to make some money. Is there profit to be made here and if so how would you go about doing it? I have an ebay account with paypal and also a craigslist account. I dont have enough posts here so selling on this forum is out of the question. Whats my best choice for profit and is it even worth it in the first place? Thanks in advance! Edited by Mullen
08/04/2014 2:17 pm
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Pillar of the Community
United States
8904 Posts |
 to the Forum, Mullen!! Unfortunately, in my opinion, you will find a very small market for cleaned and polished Morgans. Cleaning and polishing tends to destroy the numismatic value most collectors value. |
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Pillar of the Community
United States
1370 Posts |
 I can typically buy worn Morgans and Peace dollars easily for around $20 where I live and these aren't cleaned or polished....just have a bit of "extra character" |
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Pillar of the Community
United States
1903 Posts |
I would simply weigh the lot and give 90% of the melt value. About as fair as you can be in this situation.
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Pillar of the Community
United States
4692 Posts |
I agree with Moe. I would use stronger language, polishing totally destroys any collector value. Depending on the cleaning, the collector value will be diminished to a certain degree -- harsh cleaning will destroy the collector value completely. Without collector value you are left with silver melt value. I doubt you could make any money based on what you described, and would likely lose money on it.
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Valued Member
United States
156 Posts |
Unless it is a rare date or something, I wouldnt buy them except for melt value.
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Pillar of the Community
968 Posts |
With cleaned, problem coins, I'd pay 90% of melt, throw the lot on ebay, and hopefully break even or make a couple bucks. |
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Valued Member
 United States
167 Posts |
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Pillar of the Community
968 Posts |
Something like that. Figure you'll get $18 each or $540 total (might be high, I don't care enough to check) or so on ebay, so minus shipping fees and eBay/Paypal fees (~12%) you'll take in $475. If you pay $15 ea, your cost basis is $450, which means you make 25 bucks for all that work. No thanks, I'd have to make at least 10% for it to be worth my while, which would be $427.50 cost basis... or $14.25 per coin. Edited by chasingtailbar
08/04/2014 3:36 pm
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Valued Member
United States
167 Posts |
Yep I agree, its not worth it. Thanks for the insight and help everyone!
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Replies: 9 / Views: 1,136 |
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Posted 08/04/2014 2:48 pm
