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 Replies: 7 / Views: 1,119 |
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Valued Member
United States
230 Posts |
So far my collection has beenn acquired thru inheriting, auction deals and found coins. An aquaintance of mine is going to be offering me the coins he found around his dad's house while settling up the estate. Assuming we both agreed on the grade, what would be a fair percentage below RedBook to offer for the coins I want. I am going to see him sometime next week and I figure I'll bring the RedBook and between us we will agree on grades. |
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Pillar of the Community
United States
528 Posts |
That is going to depend on the coin. For me I would buy most at maybe 25% back. I think that most RedBook prices are really high. Unless it is a coin you really want then pay whatever you are willing to pay. |
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Bedrock of the Community
United States
20753 Posts |
If you check around you will find numerous price guides for coins. The Red Book is really high in prices and sometimes just wrong. There are price lists on the PCGS web site, Numismedia and many others sites. What your looking for is a fair price so my suggestion is to either look up each coin on ebay for an idea or just offer 25% less than the Red Book. Now here is my pessimistic suggestion but it depends on who the other person is. What I mean is a close fried, relative, neighbor that has coins and you offer to buy them, to them you may end up being a crook, cheat, rotten person, etc. By that I mean in many instances regardless of what you offer they sometimes end up thinking you cheated them due to you knowing them or are related. Then they start looking up some of the coins and with a little imagination of their grade of mint marks, they really find you got rich on them. Why you may well soon be a millionaire due to all that precious coinage you robbed them of. Hopefully it works out for you. In my experiences, it just turns out bad. One person I know had a pile of real junk for me. After several years now he still brings up all those valuable coins he gave me. |
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Pillar of the Community
United States
6326 Posts |
Everybody thinks the coins "they" have are worth much more than they really are.....if they're a non-coin collector. And, needless to say, if they're going to SELL them....well.....they, of course, will also want the highest most top price possible for what they have.Very doubtful that, in general, they would be happy with 25% LESS than RedBook.....they would think they weren't getting the best "value".....so don't show the book !! But you mentioned....."If his grade meets my grade"......that tells me that he isn't a novice collector. So, the both of you should be able to come to an amicable agreement on the individual values. ebay would be a "current market value" in general for most coins I would think. Of course, we're all dying to know exactly what coins these are in this "estate" too !..... 
Edited by eaglefoot
07/16/2009 09:57 am
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Pillar of the Community
United States
2540 Posts |
if you are concerned, why not use the Blue Book?
Wholesale values.
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Pillar of the Community
United States
581 Posts |
Just Carl's point about dealing with friends is very true.
If you really want to go through with it, then do what you said - agree on a price, BUT then take them to a dealer - just to see what he/she offers. I'm guessing WAY below what the two of you will agree on. This way your friend won't think he's getting taken too the cleaners.
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Bedrock of the Community
United States
20753 Posts |
I know that it may not always be the situation but as I said, my experiences are to just pass on such deals.
I've got one relative that stopped talking to me due to such a situation. Her Mom passes away and she found a jar of coins at her place. All coins were modern, present day coins. She just gave them to me and said here, since your a coin collector, you'll want these. Later she ended up telling everyone how I just accepted a fortune in coins without even a token payment.
One neighbor's friend picks up coins at a bar he cleans out after it closes. He gave me a box of them to look over. All dirty, useless coins so I gave them all back. First thing was so how many did you really keep? We don't talk to each other either now.
Just not worth dealing with friends, neighbors and especially relatives.
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Valued Member
United States
178 Posts |
To avoid bad feelings, I suggest going to a coin dealer first and see how much is offered,; then pay him something more than what was offered (like maybe half way between the offer and the Red Book price). |
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Replies: 7 / Views: 1,119 |
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Posted 07/15/2009 6:32 pm
