Lucky Finds?

From what I have noticed 75% of non collectors think that there 1950 wheatie and 1921 Morgan dollar are worth there weight in gold. Or atleast double the PCGS price guide. Its best to have a RedBook available to show them reality. The other 25% are what is fun and sometimes worth while. Lets us know how you do.

My favorite places for acquiring coins is garage/yard/estate sales and flea markets. As an example some years back at a garage sale I asked if they had any old coins they wanted to get rid of. A lady went inside and brought out a large jar of pennies. The bottom was loaded with Indian Heads. I asked how much for the jar. The answer was I should sit down and count them there but I estimated about $35 face value and offered $50 and they took it. There was about $30 face value but coin value was astonishing. No penny was newer than the 1930's. At a flea market a guy had a black 3 ringed binder with 238 Indian Head Nickels and none in poor shape. For some reason I offered $80 and he took it so fast I always wondered how much he would have let it go for.
At another flea market there is a guy that sells mostly coins and just puts them into large bins. Foreign coins in one and US coins in two other bins. Over the years I've purchsed possibly a thousand Mercury dimes from him. His price is $1/each regardless of dates, mint marks, grade. If a person buys more, the price goes down so I usually buy all he has in Mercury dimes. Usually about $0.90 each. Many times have come away with some dates such as 21, 21D, 26S, 31D and my best one from him so far a 1942D/41.
The main thing about garage/yard/estate sales is you have to ASK. People as a rule will not put coins, guns, knives out on a table for sale. If you ask they may just have such items that they want to get rid of but you have to ask. Unfortunately if a person is by themselves they may not want to leave their items to go inside for your coins. This works best when there are two of more people selling so one can go inside for other items.
Got to add that remember estate sales, not estate auctions. I mean the places where someone is maybe moving or a death in the family and just having a private estate sale.

Carl, that's good advice, I don't ask at garage sales etc. I'll give it a try.

One more thing about asking at those places is if the person in charge is by themselves and any potential coins are in the house, they may say come back later of no I don't have any. I've gone back a few times to see if anyone else joined the seller so they would feel safe going back into the house with all their stuff on the outside. And that has paid off a few times. Most people just don't trust strangers left alone with many items on the tables outside where you could just walk off with them. Also, some elderly people don't feel safe telling a stranger that they have money in the house. Regardless I always ask, ask, ask. At times I suspect I make a pest of myself, but when it pays off, it's worth it.

I can never find an estate auction in this CITY!

Yah, a lot of garage sale and flea market folks often think their common date XF and extra polished morgan is worth a fortune because it's old. I agree with carl, there are lots of good coins and good deals to be had at flea markets and garage sales, etc.

I don't think I could "let" people think they have a certain value when they don't.....
People do buy dateless Buffalos I know......and coins with holes in them, but I'd have to point out the value and what I want for them first ! Then make the sale.....

I read a dealer post on another forum where a customer sat in their parking lot for a couple hours "erasing" coins and making them look better. Turned about ten grand in coins into $1000.

Here's where our educational system fails us. I don't expect the schools to teach people not to clean coins. But you'd think someone would figure out that if a nickel eraser and a couple hours of work would significantly improve the value of something, everyone would know about it.

It's like these real estate agents who want their sellers to think that cutting the grass and planting a $5 flat of petunias is somehow gonna magically make their property worth another $20,000.