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A Hypothetical Trade

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snowman's Avatar
United States
1840 Posts
 Posted 04/23/2010  9:53 pm Show Profile   Bookmark this topic Add snowman to your friends list Get a Link to this Message Number of Subscribers
My father gave my 7 year old son $9.50 in silver quarters to bring to the next coin show we go to(it actually started out as $10, but he let my son pull 2 UNC quarters for his own collection). He told my son to see if he could bargain an exchange for three common date coins in AU-UNC condition:

1) a Morgan dollar

2) a Peace dollar

3) a walker half

Any profit my son gets to keep. My son likes the prospect because he loves the bargaining process. My question is, are these goals realistic? I haven't been to a coin show in a while, but I figure that I could easily land these three coins for under $80 total. Even at 10x face, my son would still be able to pick up a Franklin for the set he is working on.

For the record, my father told my son to do the best he can. He really just wants my son to have fun and learn a little about the bargaining process.
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wheatguy's Avatar
United States
1534 Posts
 Posted 04/23/2010  10:00 pm  Show Profile   Bookmark this reply Add wheatguy to your friends list Get a Link to this Reply
Your son will definitely have some left over. Depending on what he is looking for, he can get nice circulated examples for around $45, give or take a few dollars. Even in MS or AU grades they most likely could be had for around $55. My estimates were based on dealers paying 12x face.

Another good alternative would be to sell the silver if you are offered a high enough price and then use the money to buy the coins you need.
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nohope587's Avatar
United States
5953 Posts
 Posted 04/23/2010  10:03 pm  Show Profile   Bookmark this reply Add nohope587 to your friends list Get a Link to this Reply
He should have no trouble getting the three coins in at least AU and have enough left over for a Franklin maybe 2 or more.
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