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 Replies: 8 / Views: 1,720 |
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Pillar of the Community
United States
1450 Posts |
I started buying Franklins today. I was looking at ebay and I called around to a few coin shops. Only one coin shop had more than just a few. They call themselves coin shops when all they want is to buy gold and silver cheap. The coins on ebay seemed expensive compared to Red Book list. For instance $16 for 1958 Franklin in uncirculated condition. ebay had many in EF or lower condition and many in Proof or Gem quality for high prices. I bought six for in the %10-16 dollar range including the shipping cost. I am not paying more than the Red Book value for common coins. It is just so easy to sit in a chair in front of the computer and buy stuff. I could probably do better at my local coin shop. I just don't want the guy to think he is my only source of coins. My bargaining power will go out the window. I hope he does not read this page. *** Moved by Staff to a more appropriate forum. *** |
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Pillar of the Community
United States
7390 Posts |
I'm totally with you terry, I have 2 coin shops near me just about directly across the street from each other. I don't like going in them because they remind me of those old NY bodegas that have a few broken cans on their shelves and spoiled milk in their fridges making their profits on over the counter drug sales. Kinda the same consept in reverse. They disguise their activity as a retail coin establishment when their counter displays are sparse at best with the same inventory always. You see 8 we buy gold signs practicalLY covering the original coin shop sign. They are there to buy gold & silver period and hey if it's in coin form even better because they pay the same spot for them as gold teeth with more profit due to numismatic value. I know I'm rambling but you hit a sore spot right on the head... and that can be said for the tons of LCS's in everytown, usa
Edited by Cascade
05/11/2015 8:32 pm
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Pillar of the Community
 United States
1450 Posts |
Cascade
In my city there must be 10-15 coin shops but only a couple that actually sell coins to hobby collectors. I called one today to ask about the Franklins. The guy tells me "Yeah, we have them in the junk bin". I will visit that store this week just because I will be in that area of town. They may have changed hands recently. I don't think Franklins in uncirculated condition are junk. Maybe he does and I can get a few deals. I will buy a Franklin in AU condition if he considers that to be junk.
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Pillar of the Community
United States
1192 Posts |
I guess I'm lucky that the four dealers in my city are serious about coins though they have side interests in cards comics bullion antiques etc. Their focus is always on the coins though and the other stuff is a side buisness. I would try another place. I can get decent franklins for $7-9 in their "junk" bins or more in flips. Never underestimate junk silver trays and boxes. It's easy to find AU-58 franklins in their. Any wear and they thrown in their.
Edited by Bertensgrad
05/11/2015 9:46 pm
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Pillar of the Community
United States
1450 Posts |
Yes, I will try the junk bin if I can find some AU's. It is true that Franklins with any ware are considered junk. On ebay I see so-called junk and expensive Gem quality coins and not too much in the middle from what I can see in Franklins. |
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Pillar of the Community
United States
1037 Posts |
A lot of vendors call the 90% silver coins "junk" or junk silver. I don't consider these junk at all, even in fair condition. ebay is probably the accurate gauge of value over the Red-Book, which is printed months in advance. |
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Pillar of the Community
United States
1450 Posts |
I agree that ebay does reflect usual current value of things. However, I have noticed that silver coins have been selling at coin shows and coin shops for considerably less than Red Book. On ebay with shipping fees included the coins I am looking for sell for considerably more than Red Book. I think this is because for the Franklins it seems to me that either ooins in VF or lessor quality are selling or coins in near proof condition seem to be what is being sold. I have to work hard to find a coin in AU or MS 60. I am not finding any bargains. Maybe it is the nature of auctions that competition drives prices up beyond where they should be? |
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Pillar of the Community
United States
1192 Posts |
I can get silver coins half price from ebay at my local coin shops. $7 apiece you just have to find a supply. |
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Valued Member
United States
415 Posts |
7 bucks a piece isn't half of what you can get them for on ebay. A roll of Franklins will run you about 150, or 7.50 a coin. |
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Replies: 8 / Views: 1,720 |
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Posted 05/11/2015 9:33 pm
