AHHH!! Garage sale find!! Killing me

So I found a guy at a Yard sale this weekend.. He asked me "so your looking for Coins".. And showed me a Bag full of coins.. Wants to sell them all in one Blast for 5500.00.. He has no Idea what he has .. but showed me JUST A BIT..
What I saw was SEVERAL BU CC Morgans.. LOTS of Silver.. Halves.. Dollars ETC.
Then he poured out a Bag of EARLY 1800 Silver.. To fast to Identify, But what I saw... This guy has NO idea what he has..
AND I HAVE NO $$$$$... Its Killing Me..
I told the guy I would be willing to Price them and sell on Ebay.. He wants to Move all.. not one at a Time..
The Morgans I saw were like Mirror Proof.. So Nice..
Killing me in Boise!!

 

Log in or Sign up to hide this ad.

Hummmmm...
Should I make a special trip to Bosie??


RickieB

 

I wish I had a way to get them myself.. Still thinking of a way to approach, Convince to let me Sell for him.. I may go back today..

 

I am just kidding on the trip...LOL I would be wary if I saw all those coins loose in a bag clanging around all over each other....then again it could be enticing. At least have/suggest segregation to him to prevent any further potential damage to the coins.

RickieB

 

Well Much was in the bags loose but Many were in Slabs of one kind or another..
The CC Morgans were in Slabs to.. So Nice..

 

When something seems too good to be true.......

The Chinese are making some nice fakes including fake slabs. Burglars store their collections worth thousands in a bag. Which is it you want to become involved with? If you seriously want to buy this material, I'd at least check to see if there is a recent Police report of a theft.

 

I'm surprised that the guy won't buy a coin book and get a general feel for the value of this hoard. It seems a little suspicious that he wants to sell the whole bag for $5,500 without performing the simple act mentioned above. On the other hand, I've seen lots of stupid sales of coins and other stuff at auctions. It could be the buy of a life time. The slabbed cc morgans should fetch a pretty good price by themselves.

 

I will check local Police reports.. Guy seemed honest.. Older Asian fellow.. Said he went to the Coin shop here in town and they offered him 4K for what they saw but "did not have the time to look through them all" , .. If they offered that without looking at each coin.. i would guess they saw something..
I need to go back and look more..

 

I see alot of red flags popping up with this one...

 

well, you've got me beat as far as price goes, but a similar thing happened to me this weekend. I found a grage sale, within walking distance of my house might I add, that had a wonderful blue-green toned 3 cent piece, a seated dime that was in VF shape or better, a couple of barber nickels VF or better, a large cent, and a half cent. I have NONE of these in my collection. The 3 cent piece was for $150 and the rest ranged from $50 to $65 each. All were just out of my current range. I told her about this place, so maybe she'll show up, sell them and they'll get a good home here.

 

If he wanted to get rid of them at a garage sale, for 5500...he would have sold them for 4000 at the coin shop. If the coin fellow saw something worth a significant amount, he would have given him what he had asked...sounds too good to be true. But very enticing I might add. I would want to look through the bag....It could be the one from the end of the rainbow...:kewl:

 

I'd like to put a magnet to the bag and see what sticks.

Coin shops always have the time to look at under-priced coins.

 

His name wouldn't be Mr. Jinghuashei by any chance, would it?

 

LOL no..

 

The fact that this guy doesn't want to 1) sell to a dealer, 2) sell on eBay, or 3) let you get a good look at any of the coins seems awfully suspicious.

Scenario #1 - Stolen Coins
Jot down a list of what you remember seeing and notify the local police.

Scenario #2 - Fake Coins
There's a probability these coins are fakes...in which case you would also want to notify the police.

Scenario #3 - Real Coins
Tell yourself the guy must have inherited the coins and trusts strangers at yard sales more than his local coin dealer. In which case, cash out your HELOC, and buy them before they get away.

Scenario #4 - (Dare I say...)
You have a bunch of fake coins you've bought on eBay. You think you can find a greedy SOB on CT that's stupid enough to to send you $5500. In which case, "Go for It!"...greedy people deserve anything they get.

 

The best con-men are always the most honest. IMO, you're way too trusting of this guy. This is how people loose. This situation is rather an expensive gamble than a quick opportunity to take advantage of.

The "coin shop offered me 'X' amount" story is an old one. I had a guy tell me the same thing at an estate sale and I ended up getting the coins for less than the shop 'supposedly' offered him. Now why would someone do that? Why wouldn't you just sell them to the shop?

If there was real potential there to legitimately make good money, the guy would take some time, do some research, submit to the TPGs and make real money on ebay. The "I don't have time" excuse doesn't fly with me.

Many Asian countries have been producing excellent counterfeits for quite a while now. More get pumped into this country every day. Many are good enough to fool dealers who assume they know it all at a glance.

What are the slabbed CC Morgans in? What company slabbed them? You should know that there are even fake PCGS and fake NGC slabs floating around from Asia. You need to know what the details of a real slab look like over several versions they've used throughout the years. This isn't cut and dry. I suggest you don't spend a nickel.

 

I agree. Most people who go to a garage sale want to haggle over a quarter. Maybe a couple hundred people at best might come to his garage sale. Out of 10,000 random people, who's going to have 5,500 in their pocket ready to blow on a bag of coins? Zero.

With the proliferation of counterfeits floating around and the complete rarity of any situation like this ever happening, you should ALWAYS be completely skeptical at first before EVER getting the least bit excited. This stuff just doesn't happen. Valuable coins thrown in a bag like common crap shows you that the seller knows very little about them himself. He may not be trying to push fakes but is likely completely ignorant himself of what they are.

 

Now where did I put my ten foot pole...

 

Well its not #4.. But I understand..
I am new to CT.. I have my own collection.. Posted a few of them now just to get info.. I love it here..
I wish I had the $$ then I think he would have let me go through them..
I still plan to call Police just to confirm.. buy have not had any local news of any robbery/theft..
I do get real lucky here in Idaho.. I ALWAYS ask at yard sales for coins.. I get them often.. Just a Hint on how to find coins..
I got a Penny set with a 1909s VDB & 31s once for under 40 bucks!! It was sweet!!

 

Really.. 10 foot pole.. That bad..
I might just back away.. But I would love to get a hold of those CC...
Been bugging me all night..