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 Replies: 23 / Views: 3,612 |
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Valued Member
United States
120 Posts |
Hey guys, need your help
Got a call from this pawn shop I stopped by a while ago asking him if he had coins, he said he's cleaning out his store and found a bunch of silver dollars and halves.
I want to know, what price would you pay for each of the following coins?
90% Morgans/Peaces
90% JFK's
40% JFK's
Never bought from a pawn shop before so not sure
Thanks
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Pillar of the Community
United States
1795 Posts |
Well that depends on the condition of the coins. If they are worn and show their age then I wouldn't pay but a dollar or two over melt because he is in business to make money. Silver is low now and in the event that it ever goes up you should make out ok. Also consider that he forgot he had them makes me think there possibly junk silver but you won't know until you see them. Make sure you either bring a decent magnifier glass or be sure to ask him for one so you can examine the coins that are decent up close before you buy them. Good Luck!
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Valued Member
 United States
120 Posts |
I will be meeting him at 1PM today, said he has 72.50 in franklins and walking libertys and 35 dollars in Morgan's and peaces.
What price would you guys recommend for the lot total? Everything is 90%, if someone could do the melt value calculation for me Id appreciate it a lot
Thanks
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Pillar of the Community
United States
1005 Posts |
Current melt value of 145 Franklin halves and 35 morgan/peace dollars: $1412 |
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Valued Member
United States
120 Posts |
Thanks llewellin!!
Called my local coin shop just now also, he said he'd pay anywhere between $800-1100 for the whole lot
The seller called me and said how does $2750 sound for the lot? I'm like $2,750 if all of them are in mint condition loll
Will keep you guys posted
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Moderator
 United States
23522 Posts |
 Your coin shop has a much clearer picture of the value. In your shoes, I wouldn't go over 9x face. More than that would leave you needing to depend on the price of silver to rise for any future profit. Yeah, maybe some of those coins are in good enough shape to have collectible value, but to determine that you'll need grading, variety and value information off the top of your head. That's why not everybody's a successful coin dealer.  |
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Valued Member
United States
120 Posts |
I laughed so hard inside when he said $2,750.
$4.50 then for each half
$9 for each dollar
Total comes out to a little over $640
I was thinking about offering him $700 and not going over $950
I'm just bringing a magnet and magnifying glass with me, anything that is polished I'm going to offer him less
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Pillar of the Community
United States
1005 Posts |
The silver dollars have a bit more than 2x the ASW of the half dollars (current melt of a morgan/peace dollar = $13.74, current melt of a 90% silver half = $6.42). Just something to consider that I have always found peculiar about U.S. silver coinage.
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Valued Member
United States
120 Posts |
That brings the total to a little over $900, my goal is to keep it under $900 as much as possible
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Pillar of the Community
United States
8516 Posts |
If he's at 2750, I doubt you'll be able to make a deal.
Oregon coin geek.....*** GO BEAVS ! ! ! ***
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Valued Member
United States
120 Posts |
Yeah me too, gonna be selective and pick and choose coins then. Hoping for some CC's lol
Any years/mints I should be looking for? On the road and was hoping someone could tell me the rarities I should be looking for
Thanks again
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Valued Member
United States
120 Posts |
Guy was an idiot, told me someone offered him 25 per each Franklin dollar Hahahaha. Only came down to 2400 in price I was like gtfo. Did buy two coins though, 1924 Peace and 1880 S morgan for a combined $40. Overpaid a little but needed both as fillers and the Morgan had sweet toning on the reverse
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Valued Member
United States
120 Posts |
Had a beat up 1902 morgan and told me it was worth $100 , could barely read the date and the edges were shot |
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Bedrock of the Community
United States
20753 Posts |
Odd no one is mentioning dates and/or mint marks. That alone could make a massive difference. For example what if one of the Walking Liberty halves was a 1921 and Uncirc. I surely wouldn't just buy those for Silver. You should go there and get a complete listing of dates and mints. Otherwise just buy a lottery ticket. |
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Pillar of the Community
United States
1554 Posts |
You did not overpay for the two dollars you bought. I'm a little confused here with the numbers though. If you got two for $40 wouldn't that mean he would have sold you the lot of dollars for $700 at that price? That would have been an OK price. I can easily sell 35 Morgans for $800-$850. Most dealers are paying $23-$25 per Morgan/Peace around here.
Edited by 1893S
09/20/2014 2:13 pm
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Valued Member
United States
120 Posts |
I looked through everything and the walking libertys were all common dates, made a cheat sheet off my Red Book before I met him. And right?!! He was psycho, told me each morgan would get him at least 45 online, dropped his price On the 2 I wanted from 100 to 45 real quick Look out for his listings on ebay, should be a good laugh for everyone |
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Replies: 23 / Views: 3,612 |
Posted 09/20/2014 10:12 am
