Bought Four Peace Dollars - Coin Community Forum

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Author	Replies: 9 / Views: 1,296
terry8835 Pillar of the Community United States 1450 Posts	Posted 05/09/2015 2:41 pm I finally broke down and bought 1921, 1928, 1934-S and a 1924-S Peace dollars from Gilder Coin Shop in Tampa, Florida. The 1924-S and the 1928 were both in AU condition and the other two were in EF condition. I got the lot for $510 which is almost more than the value of the other coins in my completed collection. I saved the most expensive for last. This is just the way I do it. I think the Peace dollars are a good value. I think anyone can complete a collection for $1000-1500 getting most coins in at least EF condition. Completing a Peace dollar collection is very doable as opposed to a Morgan silver dollar collection. I did have a few coins to trade-in so I probably paid about $600 so to say. However, these are the most valuable coins in the series and I got them that cheap! I completed a collection of Liberty Walkers and it cost me much more in time and money. It is easy to find Peace dollars in EF condition in all years whereas the Walkers, for instance, are hugely expensive beyond VF condition in the early years. I don't think I will attempt Morgans but will go for Franklin half dollars next or Mercury dimes. Franklins are overlooked I think but they are getting the age on them now. What do you think? I like 20th Century coins especially silver ones. Report this Post to the Staff

ChildOfTheWheat Pillar of the Community United States 5828 Posts	Posted 05/09/2015 2:43 pm Congratulations on completing your set and on reaching 100 posts I still have a lot more Peace dollars to go before I'm even half way done! Report this Post to the Staff
Imthealphaomega Pillar of the Community United States 3210 Posts	Posted 05/09/2015 3:41 pm From your previous post go for Franklin half dollars next. You can get a bu set completed for a few hundred bucks....now if you want bu fbl franklins that's gonna get pricey. Maybe go for Washington silver quarters set....only key dates are 1932 d and s Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 05/09/2015 5:48 pm Hey, that is a good idea about the silver Washington quarters. Does Dansco have books just for the silver Washingtons? I probably will do the Franklins also. There are so many Mercury dimes and the ones in better grades get expensive. The Standing Liberty quarters get expensive as well in better grades. I am thinking which coins might actually be worth more in ten years. I like coins that have a definite beginning and end point or those that transition from silver at some point. Silver clad I just do not get. When I get down to the last few expensive coins in a collection I usually take a gulp. Good feeling to fill in all the wholes in the collection. When I finished my Liberty Walkers I just wanted to put them away in a safe place. Finding coins better than VG was hard for early years. Report this Post to the Staff
Cascade Pillar of the Community United States 7390 Posts	Posted 05/09/2015 6:07 pm There you go Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 05/09/2015 6:24 pm I think the 1924-S and 1934-S were essentially free at the price. Report this Post to the Staff
terry8835 Pillar of the Community United States 1450 Posts	Posted 05/09/2015 7:55 pm Dave Business for my local dealer must be a little slow. He is very willing to do cut prices to do business. Plus he is a nice guy and treats his repeat customers right. Do you ever get the idea that most coin dealers are a little bit older. Is the hobby of coin collecting aging? When I go to the local shows most of the dealers are retired guys. They all ask for retail plus and then get serious. I like to bring a few coins I want to trade so after I get firm price on a coin I throw in the extras and try to get more knocked off. Sometimes they look at me like "what are you doing? Shell game?". Just trying to get a deal and improve my collections. Report this Post to the Staff
SsuperDdave Moderator United States 23522 Posts	Posted 05/10/2015 08:38 am The "hobby" of brick and mortar coin dealing is going away. The advent of the Internet has made that model unsustainable in all but large markets, and the only ones who are left are from the days when opening a store was a goal for anyone who wished to buy and sell coins. The corollary to that is, now there are more coins available for purchase to the average buyer than anyone could have imagined 20 years ago. Places like Coin Community, dedicated to the new collector, can disseminate information faster and to a broader audience than anything previous. I personally feel the hobby's future is bright. It just won't look like it did a couple decades ago. Report this Post to the Staff
BuckeyeCoinGuy Pillar of the Community United States 711 Posts	Posted 05/10/2015 09:18 am I suspect the more profitable end of being in the brick and mortar coin store would be the purchasing of items coming in off the street more so than items going out the door. That being said, my small town has two LCS on the same block. One guy has been there at least 35 - 40 years and it seems to be a hobby more than a profession. Nice store, professional all around, but inventory does not turn at all. You really need to negotiate him down and it is simpler to just walk next door. Second dealer has been on the block for 10 years now (switched buildings recently so we actually had three LCS on the block briefly). Inventory turns over rapidly. A lot of items seem to be priced just where you can't flip it on ebay for a profit, but you need to do the math to be sure. Items are graded right, priced right, and the place is often busy. I have been 8 deep in line recently. Closes up shop most weekends (which seem to be the busiest days in his shop) to travel to shows and make deals. Does not do the ebay thing, but deals with other dealers that do only that. Lots of great retail items and lots of great numismatics you just don't see in town. He had an 1856 Flying Eagle cent for about a week, and same thing with a Gobrecht dollar. Just sitting in the case with a bunch of other coins I was trying not to drool on. As a business man, I admire the second guys business chops greatly. Still think it would be more profitable from a sales perspective to go online only. I assume the retail store front is value added only in purchasing coins, not selling them. Report this Post to the Staff
thq Pillar of the Community United States 3343 Posts	Posted 05/10/2015 09:34 am I'd stay open to any coin that interests you. With B&M shops you never know what might show up. Florida shops have been good memories for me. An 1875-cc quarter in Bradenton. An 1846 Half Dime in Panama City. And always the possibility of a Cuban sandwich for lunch. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Edited by thq 05/10/2015 09:37 am Report this Post to the Staff
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