Final Update ....chance To Buy Some Coins. What To Do? Help!

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Author	Replies: 32 / Views: 4,818	Page: of 3
tornandfrayed75 Valued Member United States 447 Posts	Posted 03/29/2010 9:31 pm My son ran into a lady that wants to get rid of several boxes of coins that she has. She said that they have been in her closet since the early 80's. She says they are in her way now and wants them gone. She told him that there is lots of Silver Dollars from the 1800's, lots of other stuff, and 100 rolls of Uncirculated Cents all of the same date but can't remember what date or mint. What is a good way to make an offer for the silver dollars? I do not want to sit there and go through each one because 1) don't really have the time and 2) don't know anything about them. I'm a Lincoln Cent guy. If I offer too little, I will be seen here as a scum that ripped off an old lady. If I offer too much I'm just plain stupid. If I offer the current going rate, whats the point? (No room for profit so why spend the money) Please give me your ideas on how to handle this. Thanks. Edited by tornandfrayed75 05/19/2010 11:29 pm Report this Post to the Staff

wheatguy Pillar of the Community United States 1534 Posts	Posted 03/29/2010 9:33 pm About $14 seems okay. Going rate is about $16-$18, depending on date and condition, so you'll have made yourself a fairly nice profit without ripping off the lady. Report this Post to the Staff
paul Valued Member United States 213 Posts	Posted 03/29/2010 9:36 pm I agree. Offer her 13-14$ apiece for the silver dollars and 3x face for the cents. That way, you are not paying over melt and she is getting what these coins would be worth at the minimum. Also, why am I never lucky like this? Report this Post to the Staff
AMFCook Valued Member United States 312 Posts	Posted 03/29/2010 9:51 pm Silver dollars from the 1800's are worth going through. Especially if any are CC mintage. But if you don't want to search through them all, I would say $14.00/coin on the Silver Dollars is fair. Report this Post to the Staff
Halfwitty Pillar of the Community United States 1523 Posts	Posted 03/29/2010 9:52 pm Why oh why paul? I know the feeling.I never get that lucky. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 03/29/2010 10:24 pm doesn't really matter what date they are all Morgans are VAM's and some are worth a considerable amount and may end up learning something about them. You may learn The Morgans are way more interesting than the Lincoln cents and can be way more profitable Report this Post to the Staff
coretj Valued Member United States 436 Posts	Posted 03/29/2010 10:57 pm Why not just ask her what she was thinking would be a good price.. she probably doesn't think they are worth much and will likely give a figure around 4-7 times face value. Then you say why don't I give you (her offer plus one) at that point she will be happy because she got more than she was asking for and you are happy because you got a good deal.. you aren't ripping off an old lady if she names the price. Report this Post to the Staff
GR58 Bedrock of the Community United States 11951 Posts	Posted 03/30/2010 05:42 am One I would have to see them, there are some dollars out there that are really bad shape. So bad that even some dealers will not give going rate. I would call a local dealer and ask what they are buying common silver dollars for, and give that if I was planning on keeping them, or a little less if I was going to sell some or all of them for a profit. If I was buying for a profit .. I would be looking at $10 or $12, you can always go up once you see them or find out what she is wanting for them. Report this Post to the Staff
Bryan1315 Bedrock of the Community United States 14454 Posts	Posted 03/30/2010 07:29 am Quote: some dollars out there that are really bad shape. So bad that even some dealers will not give going rate. Silver is silver, no matter what condition its in it will always be worth spot Report this Post to the Staff
SeatedNut Pillar of the Community United States 2797 Posts	Posted 03/30/2010 09:14 am Quote: Silver is silver, no matter what condition its in it will always be worth spot Well, yes and no. If you want to do it all yourself and accumulate $1000 face for smeltering you should get full melt. If you sell it to a coin shop or bullion wholesaler, they will pay under spot and will reject "culls". Spot is currently a bit over $13 each for 90% silver dollars. Our current local rate is 11x face and with the stipulation in the advertising "no culls". They are still getting plenty of business and can give the customer this "take it or leave it offer". Report this Post to the Staff
trdhrdr007 Pillar of the Community United States 2335 Posts	Posted 03/30/2010 09:39 am It looks like APMEX is paying $13.95 this morning for cull silver dollars. That price is only good if you have $1000 face to sell. I wouldn't pay more than that & would really need to buy for less. If I can't make a profit why bother? I think I'd call around to see what local buyers are paying & base my price on that. That doesn't mean I'd pay exactly what they would. My buy price could be more or less depending on what type of profit I could make based on the sales outlet I had. Edited by trdhrdr007 03/30/2010 09:40 am Report this Post to the Staff
BadThad Bedrock of the Community United States 19931 Posts	Posted 03/30/2010 6:43 pm The fair thing would be to go through everything and offer below spot for the silver and below CDN bid on everything else. If she took it to a dealer, that's what the dealer would do. It's not worth your time to grade every piece and figure out what to offer. I'm sure she'd be happy to compensate you for your time, at the same time you're having some fun. Otherwise this collection would probably end up going to waste. You shouldn't feel guilty for making a nice profit, afterall, you're doing ALL the work. Lincoln Cent Lover! VERDI-CARE™ INVENTOR https://verdi.care/ Report this Post to the Staff
specksynder Pillar of the Community United States 1080 Posts	Posted 03/30/2010 7:15 pm Quote: The fair thing would be to go through everything and offer below spot for the silver and below CDN bid on everything else. If she took it to a dealer, that's what the dealer would do. correction -- misread... I think I agree... When I took 400 Morgans to my dealer, he spent an hour separating the common dates into 5 stacks -- BU, AU, XF, average, and cull. He pulled out the better dates (2 or 3 coins). For the common dates, he offered a certain price per BU coins, a certain price per AU, etc. The culls yielded $13 per coin. It wouldn't take long to run through the coins, but if you don't want to go through them all, you owe it to her to pay above cull. I would recommend something like, $15 per coin, but you might offer her a bonus if any of them sells for over $200. Edited by specksynder 03/30/2010 7:16 pm Report this Post to the Staff
Funny Money Valued Member United States 424 Posts	Posted 03/30/2010 9:20 pm You could just ask her what she wanted for the lot... Report this Post to the Staff
steve199 Pillar of the Community United States 1882 Posts	Posted 03/30/2010 11:09 pm Sounds like a great opportunity! I agree with those that say you should go through the coins to make an offer. Asking her what she wants for them is not a fair thing to do. Unless she asks for too much. Report this Post to the Staff
tornandfrayed75 Valued Member United States 447 Posts	Posted 03/31/2010 8:38 pm My son got this list from her today. The descriptions are hers (Liberty Dollars?). I just copied and pasted her words. I have no idea as to the condition or grade or mintmarks of the Silver Dollars. I am meeting with her tomorrow afternoon. I've never been in this position before, pretty exciting. Lots of Pennies, lots of regulars, but maybe some interesting dollars. Here is what she has: 14 rolls pennies 1982D unc 5 rolls pennies 1981 unc 1 roll pennies 1980D unc 1 roll pennies 1981D unc 2 rolls pennies 1973D unc 4 roll pennies 1968P 1 roll pennies 1969 40 pennies 1969 P unc 1 roll pennies 1974D unc 1 roll pennies 1972S BU 1 roll pennies 1968D 1 roll pennies 1968 1 roll pennies 1968S BU 1 1942 D Wheat penny 1 1956 Wheat penny 1 1954 D Wheat penny 1 1957 Wheat Penney 15 pennies in an uncirculated bag- 5 from each of the Three mints unc 3 wartime emergency issued steel pennies 1943 P, S, D 1 silver dollar 1974 Eisenhower 1 silver dollar 1776-1976 Eisenhower unc 1 1/2 dollar 1973 Kennedy 1 1/2 dollar 1985 Kennedy 3 1/2 dollars 1776-1976 D Kennedy 4 1/2 dollars 1776-1976 Kennedy 6 1/2 dollars 1973 D Kennedy 7 1/2 dollars 1972 D Kennedy 4 1/2 dollars 1972 Kennedy 1 1/2 dollar 1971 Kennedy 10 1/2 dollars 1971 D Kennedy 1 1/2 dollar 1969 D Kennedy 3 1/2 dollars 1968 D Kennedy 5 1/2 dollars 1967 Kennedy 2 1/2 dollars 1966 Kennedy 1 1/2 dollar 1964 Kennedy 1 nickel 1943 2 Buffalo nickels, can't read date 1 1/2 dollar 1951 Franklin 1 1/2 dollar 1962 Franklin 8 Liberty dollars 1922 6 Liberty dollars 1924 1 Liberty dollar 1935 1 Liberty dollar 1926 2 Silver dollars 1921 2 Silver dollars 1890 1 Silver dollar 1879 1 Silver dollar 1899 3 1/2 dollars 1974 Kennedy 1 1/2 dollar 1974 D Kennedy 1 1/2 dollar 1983 D Kennedy Report this Post to the Staff
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