Check these PICS out of items at a nearby auction! Any catch your eye! Need advice!

Need some help. Here are some pictures of an nearby auction tomorrow AM. The gentleman is selling his coin collection. Here are some notable lots that they are selling. See anything interesting that I should bid on and maximum bid amount? Thanks!

Handful of Walking Liberty Halves


Multiple Kennedy Halves (lots of 1964 (90% silver) in pic shown)

Mixed Bag of Buffalos, Indian Head Cents, Dimes, "V"s, etc.


Peace/Morgan Dollars


50-75 Mercury Head Dimes



More Standing Liberty Halves (and a Franklin)


Mixture of Ikes and SBA Dollars



Looks like a Book full of Rosies



Nearly Full Book of Lincoln Heads (minus VDB-S and 1922 Plain)

 

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Well how are we to tell you that there isn't a 1919 D in MS65 in the Walker pile? Just bid according to FMV on them and you will do just fine.

 

Do you think that these look like alot of melt value coins? That is the max I would bid, maybe $5 for the 1949-s dime. Maybe face for the rest or a little more for the IHC or V nickels but many look low grade or culls. I would pay for the Lincolns for the 1914d, 1909-VDB, and 1926-s, a little more for the teens and a few cents each average for the rest.

 

You have to be careful the lincolns you need to check as people have been known to stick any old lincoln in just to fill the hole
The silver no more than spot.... MOST IMPORTANT DON"T GET COUGHT UP IN THE BIDDING

go to Coinflation.com to check the latest spot price and you also check the value. The silver dollar in the photo are refered to as "Junk Silver" they all look pretty beat up

Bid/Ask Spread:

In the past, most "junk silver" coins on eBay often sell between a +/- 5% spread of the melt value. For example, if you have a silver coin that has a $1.00 melt value, you should be able to find someone who's willing to buy/sell it between $0.95 - $1.05. However, the recent spike in the silver price has caused premiums to fluctuate wildly.

If you're planning to buy/sell 13 Morgan dollar(s) when silver is priced at $27.77 / ounce, the final total may fall between $265.26 - $293.18 on eBay.

 

Wow! I attended the auction and I can't believe some the the prices that people called out for some of these coins. Well over the "melt value" for the silver coins. 135 Silver Rosies sold for about $375. 10 Peace Dollars sold for $275. 24-1964 Kennedys (90% Ag) sold for 325 dollars. The book of Lincoln Pennies (all minus 1909 VDB-S, 1922 plain and 1924-D) sold for $525. People definately lost money today (except for the seller).

 

The silver went for over spot, but depending on the condition of the 14 D and 31 S, some money could be made from those lincolns

 

Both of them were Good at most.

 

I wonder why people bid so high at auctions? I guess most don't use the internet and/or realize they can get the same coins for much cheaper prices......

 

Lack of knowledge about coins......got caught up in the bidding (so easy to do)
I'm happy to see you went home with your money

 

In person auctions always see prices like this in my neck of the woods, especially when there are limited coins being sold, such as at an estate sale. I found one that would have a coin only auction every month and only like 20 people max would show up to it and I found lots of deals there but nowhere else.

People get excited, they aren't really very knowledgeable about what they are buying, and ebay actually HELPS push the prices high because the idiots think they are going to flip everything for a profit regardless of what they pay.

 

It's the same affliction people have when bidding in an online auction:

Bidding Frenzy

This can cause the bidder to lose sight of reasoning, and responsible bidding when they're caught up in the frenzy.

It pays to know FMV for coins, and set your limits before bidding starts at live auctions, and stick to it.