I might have the opportunity to purchase some bulk coins at an estate sale. I can't inspect the coins really closely as they are in big plastic bags. So I was hoping some of you might be able to help with bulk pricing on coins. Indian Cents- V Nickels- Pre 1964 Quarters - Franklin Halves- Buffalo Nickels- Mercury Dimes- Seated Dimes- As always I really appreciate your guys/gals opinions. I know with the silver coins the silver value, but I didn't know if that was the best way to price them.
I don't know which is worse, an eBay listing for bulk coins with no chance of looking at them in hand before buying/bidding, or a bulk lot in a bag at a live auction with no chance of looking at any of them in hand before buying/bidding.
Too many variables to give more than ballpark estimates. For Indian cents, V and Buffalo nickels condition is going to matter quite a bit. Culls are worth very little, as are corroded or damaged coins, or coins worn near slick. Coins with full dates and full rims might have a low retail value of $1 per cent and V nickel, 50 cents for Buffaloes. Wholesale bulk prices would tend to be lower. For VF or better coins, the value goes up quite a bit, but tends to be an unlikely scenario. One key date in a small batch can make it pay off big time, but the odds will vary on that as well. If you a collector looking for some fun, it might be some low cost entertainment. If you are looking to flip at a profit, you should already know the answers because many others at the auction know what they are doing.
I would say that low grade AG to G V heads are 50 cents a coin, dateless Buffs are a dime a coin, whole date common Buffs are forty cents a coin, and AG to G Indians are 50 cents a coin.
Man, if these are truly estate coins, rather than dealer lots, you might gamble a little. I would not pay more than 90% of the melt for unsearched junk silver, possibly going to melt on halves and dollars. Weigh the bags to determine the count, take a wild guess as to what the coins might be worth. For this, you might need greysheet values for lowest grades. That's what a dealer would pay. Then you can bump that a bit. On something like this, I try and glean what a dealer would pay, then raise my bid about 15%. that way, everybody should be pleased with the deal.
I have to ask why do you want them? And do you really think they are going to let anything good slip by? I have to advise taking your money and finding something that will light a fire not fill up the bottom of the closet.
It happens. There are a lot of collectors that don't know about, or look for varieties. Yeah you probably won't find any key dates or a three legged Buff but you never know........
I have heard too many stories of how the estate auctioneers have partnership's with dealers to seed the auctions with the rejects from the junk bin though to advise any new collector to look for deals at estate auctions. Most of the time even the good stuff when it's there goes for moon money. Oh and as for varieties that is a thin slice of the collector world and it can get very expensive chasing Minor varieties that nobody wants when it comes time to sell.
