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 Replies: 11 / Views: 1,497 |
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Pillar of the Community
United States
1192 Posts |
I have a bit of a ethical dellimma. I have a close friend that is looking to sale his partial Franklin half collection to focus on his Indian cents. I'm focussing on walkers and always thought about collecting franklins down the road so I don't want him selling to a dealer and getting less money then he could. What do you guys think would be a fair price for 9 halves from junk boxes. He got them in the last year for $7-$9 apiece. I have a item that I would be giving him that he can get a immediate $37 out of that is pretty much same as cash. So I just have to think of how much extra cash I should trade with. I can currently grab them at $7 from a dealer so that's the max I could go. Should I just trade it at $7 apiece even though I'm not really collecting them yet and need the money for walkers? The big thing is that the $35 item is a easy trade for me and makes me more willing to give him full retail once it added on. I helped him make final decisions on what to buy on all the halves so they meet my standards besides one that has awful uneven toning haha. They also come in a used whitman album he got for $5. Edited by Bertensgrad
04/16/2015 2:02 pm
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Pillar of the Community
Canada
1747 Posts |
I get your dilemma, you don't want to under cut your friend, but to be honest you don't really want/need the coins. you should take the coins with your friend to the dealer and see what they would pay for them.
If they say $4 or $5 each, then offer your friend $5-$6, that way your friend gets more than what he could selling to the dealer, and you paid less, because you have no need for them.
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Moderator
 United States
23522 Posts |
He's a close friend. In my world, that changes everything. Do the best you can or are willing to do, and chalk up anything you'd consider "excessive" to buying your close friend a beer or two because that's what we're talking about in terms of extra money.
He'd do it for you, right?
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Pillar of the Community
 United States
1192 Posts |
Oh and the $37 was a slightly redundant birthday present that he went overboard on and he agreed he went overboard on and we decided to have him take it back as part of the deal. So it's even more complicated lol. I'm thinking that because of this I should give him what I could get it at retail, when the gift is included.
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Moderator
United States
23522 Posts |
I see no fault in your reasoning.
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Bedrock of the Community
United States
11951 Posts |
At a local coin shop that $4.50 in 90% silver (9 half dollars)
They would buy at $49.50 and sell at $61.90
I think anything over what a dealer would give,
is a good starting point to being fair.
There is only $12.XX difference so giving closer to the
higher number, and him being a friend, might be a good thing.
Also
For me, I would look at the coins. Are they in the grades
you like, with no problems. Are there any 48 to 52 with
mint marks. If they are coins I really like and know
I would want in the future, then I might be more generous.
I know you said junk silver box/bin, But I have seen a
big difference in grades in junk silver.
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Pillar of the Community
United States
1192 Posts |
I do want the collect them eventially when I have more funds general available. 8 out of the 9 was bought I while was present and are XF to AU. He usually narrowed it down to three and then asked me which one he should buy. He started with V nickels, Indian cents, and the halves. I think he got discouraged with the halves with how much tey went up and down, but also has new hobbies and he just feels like shouldn't had started with them. |
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Bedrock of the Community
Australia
21786 Posts |
Use agreed published third party pricing as your guide.
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Pillar of the Community
United States
7390 Posts |
This is simple. He's a good friend and the opportunity has come. Unless it takes food out of your mouth give him top dollar. So yes what you would pay retail. or take money out of the picture entirely and full trade him if possible.
*I should add that I am generous to a fault though with family and friends though...
Karma Exists! You may just score a key walker for a steal in a month? (funny how stuff like that happens)
Edited by Cascade
04/16/2015 7:30 pm
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Pillar of the Community
United States
1795 Posts |
I agree with Ace's advice. Taking care of your friend and your friend not taking advantage of you is what I would say about that! Best of luck in whatever direction you decide to go.
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Pillar of the Community
Canada
4911 Posts |
if I was in your shoes I would buy them at about $6-7 a piece and then use them as trading/ selling material on the ccf so you can turn them in to walkers or funds for walkers. your friend gets a fair price and you get something you would have preferred to put the money into. just a thought
Feel free to call me Will.
Edited by thedollarman
04/16/2015 7:50 pm
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Pillar of the Community
United States
1192 Posts |
I do want the franklins I just don't have the money to collect them since I'm finding great deals on decent walkers for junk prices. I decided to give him $30 and the birthday present back. I listed the franklins I would get below. I have a 1949 s and a 1951 d also that I was going to give to him for his birthday in XF. His franklins are XF to AU. 1950 1952 1952 s 1954 s 1958 d 1959 d 1960 d 1962 1963 d Pretty much I get 9 Franklin halves for my birthday at the price of $30. He gets all his money back out of them cash while giving still giving me a $35 present that he spent earlier on me. It complicated reasoning but it's acceptable to both of us. Edited by Bertensgrad
04/19/2015 8:17 pm
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Replies: 11 / Views: 1,497 |
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Posted 04/16/2015 1:52 pm
