| Author |
 Replies: 12 / Views: 2,571 |
|
|
Valued Member
United States
455 Posts |
So I may have an opportunity to buy "2 suitcases" of "Grandpa's coins". I have a friend at work who's Grandpa recently passed away and she says he had 2 suitcases full of coins. I told her I'd be interested in buying them. I've been asking her about it every so often and finally she says to me today "so what's your offer"?
I don't know anything about them. Haven't seen them, know how big the suitcases are or anything. I don't know if they are newer or older coins. I asked her to take some pictures and maybe bring in a few of the coins.
So my question is, how would you approach this situation? How would you determine what to offer? I am not looking to screw her over. I'd be willing to offer a fair amount for them but what do I ask for to try to determine this? What would a coin dealer do to determine a fair offer?
Any help would be greatly appreciated.
|
|
|
|
Pillar of the Community
 United States
5029 Posts |
Simply ask her to see the coins. Makes no sense she would expect you to make an offer sight unseen. If that doesn't work for her, I would pass and move onto to something else. Pics of the coins will give you an idea of what she has. But you will need them in hand to make a fair offer.
Edited by scopru
01/03/2018 8:21 pm
|
|
Bedrock of the Community
United States
10284 Posts |
A coin dealer would look at the valuable stuff and pay a bit over 60% of what it would sell for. The non key and common silver bullion coins he would pay silver content less 20%. The bulky wheat pennies and worn V nickels and dateless worn buffalo's would probably be 2x or 3 times face without scanning through for better dates. If it is a bunch of common 70's 80's and 90's mint and proof sets, not much over face. The dealer has to sell it and make a profit which ties up his money and takes work and time to do. It's your conscience you have to live with. Make a fair offer and take it from there. |
|
Pillar of the Community
Canada
5246 Posts |
No reputable dealer I know would ever make an offer on the basis of it being 2 suitcases full. Even in "storage wars", I believe that people get a quick peak.
It could be $100 worth or $100,000 worth.
Based on my experience with seeing stuff come into coin shops, it is more likely to be lower rather than higher, but why would you want to take a chance of losing money or grossly under-paying the person?
|
|
Pillar of the Community
United States
3463 Posts |
If you are willing to offer a certain amount of money for two suit cases of unknown size full of unknown coins, I may be able to put together something for you.
How many do you want?
No one would buy the coins without inspecting them, not just a quick glance with the lid open, but a full inspection of what they were buying.
If someone won't let you look at them first, there is probably a reason and you should walk away.
|
|
Bedrock of the Community
United States
94367 Posts |
scopru's advice is right - just ask to see everything first and scope it out. We're here to help.
|
|
Rest in Peace
United States
17900 Posts |
Jeez people, really?
Just ask HER what she thinks is a fair price.
When you see the coins it will be easy to yeah or counter offer.
|
|
Pillar of the Community
United States
3327 Posts |
Sounds intriguing. Keep us updated!
"Nummi rari mira sunt, si sumptus ferre potes." - Christophorus filius Scotiae
|
|
Valued Member
United States
338 Posts |
Storage wars auctioneer says in the beginning
"Don't open any boxes". So nobody gets to see before the bidding.
|
|
Bedrock of the Community
 United States
12477 Posts |
Quote:
Just ask HER what she thinks is a fair price.
When you see the coins it will be easy to yeah or counter offer.  You must be able to examine the coins. Start with her asking price and adjust based on the contents. If her initial price is low, just take it. It's not your responsibility as a buyer to make sure she gets top dollar. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
|
|
Pillar of the Community
United States
2558 Posts |
But if the suitcases are really nice you may have to factor those in.  |
|
Bedrock of the Community
United States
10284 Posts |
I kinda missed the "so what's your offer"? part in the original post.
People are silly sometimes. Ask her if she will trade them for what's behind "Curtain No 2".
|
|
Pillar of the Community
United States
1386 Posts |
I would ask her for a date to come pick them up,At that point you can discuss the price. If they're not rare or collectible then I'd offer a basic face value offer. Because you never know what hidden goodies(clash,MAD,etc) is hiding in there.Then if you do find something fascinating you could give her a bit more if you're so inclined to do so!
|
| |
Replies: 12 / Views: 2,571 |
|
Posted 01/03/2018 8:22 pm
