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 Replies: 18 / Views: 2,127 |
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Valued Member
United States
228 Posts |
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Pillar of the Community
United States
632 Posts |
Wow, you planning on mortgaging your house? When you say being 'sold together' does that mean your making a purchase of all 16000 some odd coins?
This is not a ligitmate advice of what you should offer but I cant imagine a lot that size being sold for less than 10 thousand dollars.
Edited by Elimist
05/06/2008 10:21 pm
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Valued Member
 United States
228 Posts |
10K !!
Holy ****!
haha, I'm only 17, lol.
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Pillar of the Community
United States
2049 Posts |
Yeah I was going to say a minimum of $8K-$10K for all of those, and that is just based on common date coins.
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Valued Member
United States
164 Posts |
The way I see it is he may not have a lot of buyers, therefore I would offer a little lower and see if youcan't pick it up for a deal. I would offer 5 - 7K for the lot. I would also plan on these coins being HIGHLY circulated with anything close to a semi-key date pulled out and gone. If it were me, and I had 5 - 7K to throw around I would go to the Long Beach show in a few weeks and pick up some keydate Morgan dollars (i.e. 93S, 94 etc.) To me, the only way I would buy this lot is to be able to resell it and make a little bit of money. Even 5% on 8K would be about 400 bucks! |
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Pillar of the Community
United States
1208 Posts |
Did he approach you or did you ask him to sell?
Who initiated the "sale" talk?
I can't stand when someone is actively selling
something, but won't put a price. However, if
it was you asking them to sell, then ball's in
your court. If that is the case, you can offer
low, but it won't be accepted.
In the case of him initiating the sale, I would
offer low just out of spite and to force him to
set a price. And I don't mean '10% low', or low
end fair offer... I mean 'insulting low'.
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Pillar of the Community
United States
6326 Posts |
HOLY MOWLEY !!.....  You have to buy the "whole pile" ? Well, if so, you're gonna need A LOT of cash ! Morgans...$3,150.00 at $18.00 apiece **(and some could be worth hundreds of dollars just for ONE of them)** Peace.......$2,125.00 at $17.00 apiece......same details. IHP's....$250.00 WLH's.....$1,000.00 Franklins $1,500.00 I could go on and on here.......but WOW ! You could easily have $10,000.00 there my friend !.. Is there any way you could buy "just" what you wanted ?  |
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Pillar of the Community
United States
2600 Posts |
First, I assume you have looked at them and that they are not a pile of culls. Second, I never like to give the first price, I may raise the sellers sights. Rather, throw out a offer of $4000 and go from there. What you really want to know is what number he has in mind. Good luck!
Jim
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Pillar of the Community
United States
3234 Posts |
Jim, I think you're thinking right along the same lines that as I was. I have bought lots like these. It's easy to overbid on it. If you're looking to keep them, that's one thing. But, it's a whole different story if you want to move that material and I've done just that several times. It can be a lot of work.
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Pillar of the Community
United States
1490 Posts |
If your going to buy a lot like in an attempt to flip it for a profit I would recommend you consult a grey sheet and then offer about 50-60% of that amount bearing in mind the bullion value of the silver coins.
Having said that it is always best for the seller to state his price first.
Edited by JimR
05/07/2008 12:26 pm
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Pillar of the Community
United States
6326 Posts |
Well...... at 17 years old.......assuming you don't have that kind of cash...  ...just see if he'll sell you 2 or 3 Morgans out of it and walk away cheesin'!.... Edited by eaglefoot
05/07/2008 12:37 pm
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Pillar of the Community
United States
1571 Posts |
Offer $5000.00, and if he haggles, turn and walk away.
Dick
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Pillar of the Community
United States
2443 Posts |
Do you have any pictures? I would guess that most of that is junk coins that were headed to get melted?
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Bedrock of the Community
United States
20753 Posts |
Sounds a little fishy to me. I'd want to see all of them prior to making any offer. Could be a pile of damaged coins. Worn, dented, scratched, chipped, etc. If a pile of junk, not worth much except pure melt prices. I've seen piles of junk coins like those might be at flea markets and just dumped into bins. All the halves looked like they were used in slot machines for many years.
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Valued Member
United States
228 Posts |
Yeah, I'm pretty sure that all the key dates have been picked out. I am going to offer 5000 like you said, Dick. I'm not going any higher than that because, well, I just dont have that kind of money. haha. I think that my best bet would be to buy it and resell as bullion.
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Pillar of the Community
United States
666 Posts |
Without seeing the lot I think you're break even point would be around $8600 based on what you can sell this stuff for in lots on ebay. I wouldn't off 8600 for it since it would be quite a bit of work to break all this up into lots / list it / pay fees / deal with bidders who would bid on this sort of stuff / etc... That said I think $5k is a little low as well. The silver would be easy enough to get rid of as it always sells at at least melt value. The rest of the stuff is where it might take a bit to get rid of. Especially the foreign coins. You'd end up having to run 70 or so auctions or you could set up one dutch one, but I think you'd be looking at a couple of weeks to turn over the entire inventory. Were it me I'd offer $6800 and be willing to go up to $7500 that way you'd be looking at a profit of between $1.2k and $2k over the course of a couple of weeks. Here's the way I broke it all down... 175 Morgan dollars125 Peace dollars85 Walking Liberty halves150 Franklin halves150 Kennedy halves12 Seated dimes ---- Melt value = 6341 Numismatic value = ? 250 INDIAN HEAD PENNIES ---- cull value = ~200 AG - G value = ~300 8,500 WHEAT PENNIES ---- selling on ebay @ ~$25/500 = 425 25 Eisenhower dollars---- ? = ~30 3 ADAMS SMOOTH EDGE ERROR DOLLARS ---- uncertified = ~200 x 3 = 600 7,000 FOREIGN COINS ---- ebay average in 100 coin lots is .13 per coin = ~900 |
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Replies: 18 / Views: 2,127 |
Posted 05/06/2008 10:28 pm
