Peace Dollar Collection

Those were not honest dealers. Just trying to take advantage of you.

 

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Yes, I saw that and just walked out. I am not an expert but 70+ years of active collecting is difficult to scam.

 

@68thandpark Welcome to CT.

 

Yes, it’s a shame and there are so many people that are like that. They only care about themselves. Those dealers never thought of you as a collector, just an older person that had no idea of the value. They wanted to lowball you so they could pocket the difference. Shame on them.

 

I have talked to my kids about this and I will pass on a little of what I told them. A coin dealer wants to buy your coins as cheap as possible to sell them again to make a profit. If you sell them to a collector they also want to buy as cheap as possible, but their desire is usually to add them to their collection. You sort of eliminate the "middle man" in the process. There are to me advantages of selling on a site like Ebay, Great Collections, and etc. It also appears to me it is better for a seller to coins on an individual basis rather than as a set unless sometimes a very high grade your set one is attempting to sell.

I also talked to them if they to decide to sell anything to make sure that is what they really want to do . I have seen people sell coins they inherited, and then 10 years or so later regretted it. Don't rush into the selling, time is on their side and doubtful the value would decrease over time.

I would hope they would add to the collection, not dispose of it.

 

@lardan I agree as I am trying to get my kids interested in collecting and aware of the potential pitfalls.

 

I know what you mean. I took a 1893 Morgan in XF to a coin show and they said they can't sell them and the coin was only worth $200. I listed it on Ebay for $200 and someone snagged it up. I regret selling it because now they are worth a lot more.