What's a fair price for 100 Morgan dollars, a completely random mix of dates and mint marks, with a few slabbed? Guy is trying to sell 'em for $2,400.
I would say that at that amount $2000 would be a better price. If he wants to single them out or let you inspect them then its a different story. I know my dealer just got 100 for 1500 from a different dealer
I told him the same thing. But I don't really know what to counter at. 2000 seems like a high price to pay, sight unseen.
yea I agree but I cant imagine dropping him down to silver melt....... if he wants more money the obvious answer is to single them out. silver spot is 1401.49 as of right now. without seeing them you have to go off silver price I guess
Can dealers really get away with buying them for $4 under melt value, each? That's pretty solid. From what he said, they're mostly AU to MS coins.
I can imagine some will - but not from me. Local dealer gave my father a minimum of 16 for some of the worst cleaned morgans he had (common dates). Not sure what silver was at the time. I was thinking spot would be a good price, but it could be 100 harshly cleaned coins(assuming the slabs are by someone other than NGC/PCGS).
It's one thing for dealers to buy/sell at spot in dealer-to-dealer transactions, but when someone comes into their store or even at some of the shows looking to sell, many dealers will offer as little as possible which may be anywhere from 20-40% back of bid. Chris
I would offer $1500! You can meet the seller wherever you want but that $2500 is way too high and is a retail price, meaning in most coin shops I walk into they have $25 dollar boxes of Morgans and when you look at it that way, hell he's asking you to pay what you may end up selling them for. Personally, here in California there is no way I would pay his asking price. You can get a better deal elsewhere!!
I would have to look thru them first. His price is more than I would pay for bulk common circ morgan dollars. I would need to see if there were any better dates or nice mint state coins to make it worth my while at that price. Any counter offer to his price would be based on what I thought I could flip them for to get immediate profit. When offered a bulk deal at a show like this I quickly calculate what I can flip them for and then offer 60-80%, sometimes much less if a lot of culls (I just value those at zero). Then I lay cash out on table and unless he refuses deal simply take the coins. Culls can be soldered to money clips and sold for $15-$20.
Yes if seller is not much of a coin person or broke. This happens at shops all the time. How do you think they can stay in business and offer this stuff around Bid on the Bay or at a show?
Take smaller margins, move more product... He hasn't responded to my email so I'm guessing he's all upset.
