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 Replies: 17 / Views: 3,219 |
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Valued Member
United States
68 Posts |
A lady I work with has two Peace dollars that she was going to give me because she knows that I have recently taken up coin collecting again, after a 45 year absence from my collection as a kid. When she brought them to work and I saw that they were 1928 dollars I told her that I couldn't "take them" but would be interested in buying them. (Her brother discovered a "coffee can full of silver dollars while doing some demolition on a garage 35 years ago". Just based on the conditions listed in the Red Book, I told her that they appeared to be worth between $300 and $500 each. I suggested that she take them to a coin shop to see what they would offer her and that I would match their price plus 10%. After getting verbal quotes of $300 for each coin from the coin shop (which is a reputable establishment) she informed me that I could buy them from her for $300 each. I realize that the 1928 is the key piece in this series, but since I'm not really interested in collecting the set I was thinking of buying them, submitting them to PCGS and flipping them to use the money to buy some coins that interest me. I've just very recently started learning how to photograph coins so I hope that the below photos of the two coins are sufficient to enable the members of CCF to give me some advice/input on the value of these coins and/or my tentative plans. Thanks in advance for any help/suggestions.       |
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Pillar of the Community
United States
2661 Posts |
Numismedia has these listed at $299 for F12 and $357 in AU50. After grading fees you would be hard pressed to realize any profit from these. If you are not looking to add them to your collection I would pass these up and move on. But I really want to say just go ahead and get them. The choice is yours to make, but $300 sounds a bit steep if your going to flip them.
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Valued Member
 United States
68 Posts |
Thanks Tim. I know exactly what you're saying about wanting them but not "pulling the trigger" because of the very narrow profit margin with or without the grading costs.
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Pillar of the Community
United States
1510 Posts |
see if they will barter-- offer her 250
Retired USAF 1983-2003
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Valued Member
United States
178 Posts |
Maybe she will sell them to you for $240 a pop (about 80% value) and then knock off another 10% for the money you made her lol, about $220 a coin... so yea about $650 for all 3 :)
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Moderator
 United States
23522 Posts |
I posted in the Photography Forum thread as well.
She has a top-dollar offer on those coins. Let her accept it; you won't be able to profit by matching it, and it'd be wrong to try to bargain her down.
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Valued Member
United States
68 Posts |
I agree. I plan to advise her to take their offer.
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Bedrock of the Community
United States
17884 Posts |
If you don't really want them for yourself then I would advise her to take the dealers offer. There really isn't any room there for you. If you wanted for for building a set that would be another matter. (I have to wonder what we are missing. If there is no room for a collector, why is the dealer offering that much? There wouldn't be any room for him either.) Maybe rather than numismedia we should be checking ebay to see what these are actually bringing in the real world? Do you have better images of the area below ONE? That area is rather dark in these images and I think I may see evidence of a mintmark, especially on the first coin. Edited by Conder101
06/13/2011 12:23 am
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Valued Member
United States
68 Posts |
I've already returned her coins and advised her to take them to the coin shop. It now remains to be seen if they were serious about their verbal estimates of worth when it comes time to write the check. As I said, I've already returned her coins, but I can assure you that there was no evidence of any mint marks. I'm not really following your logic here, as the coin shop's estimate of worth would have been lower if they thought that they were possibly S's and not P's. As for ebay prices, the range for coins similar to these were anywhere from $250 to $450. |
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Pillar of the Community
United States
1348 Posts |
I doubt the coin shop will pay the $300. they will give her a line of thats what they'll sell them for so they'll pay $230.
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Valued Member
United States
68 Posts |
I'm pleased to report (for my coworkers sake) that the coin shop wrote her a check for $600.00 yesterday, which she promptly cashed at the bank that the coin shop uses for these types of transactions. She reported that the son of the owner was there and called his father, who asked if this was the same lady who had brought the coins in last week. When it was confirmed that it was indeed her, the father gave the go-ahead to write the check. I think I'm going to have to visit the shop soon and see how much they want for a couple of 1928 Peace dollars:) Does anyone think they might "dip" these two coins to improve their appearance, and how much do you (anyone) think they will be asking for them? |
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Pillar of the Community
United States
3278 Posts |
I wouldn't be surprised to hear that they soaked the coins in acetone for a while
to spruce them up.
I would hope he would not dip them in anything harsher.
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Valued Member
United States
68 Posts |
Is eZest an acetone based dip?
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Moderator
United States
23522 Posts |
Quote:
Is eZest an acetone based dip? No. The two could not be farther apart. Acetone is a (relatively) benign organic solvent, known not to damage silver. E-Zest is thiourea, a compound which rips stuff off the surface of the coin and will utterly ruin it if not used with knowledge and caution. |
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Pillar of the Community
United States
8904 Posts |
Quote:
E-Zest is thiourea, a compound which rips stuff off the surface of the coin   |
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Bedrock of the Community
United States
12437 Posts |
Not just thiourea, sulfuric acid is the other main component.
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Replies: 17 / Views: 3,219 |
Posted 06/11/2011 08:14 am
