silver dollars school sale

ok so a drugie in class knows that i collect coins. he says he has some "silver dollars". i have no clue what they are but i would like to know what a fair price would be for each type of silver dollar? besides SBA'S. thank you for your time

 

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They're probably Eisenhower coins or Ike's. Most years are copper clad, so take your time and look at them well. If they're really silver dollars, like Morgans then just look them up on the silver coin calculator below and make a lower offer. Also, if you do any business with him try to take care of it right there at school. Don't go to his house unless you know the guy. You don't want to get stuck in the ghetto somewhere with a bunch of thugs thinking about robbing you, that's for sure.

http://www.coinflation.com/coins/silver_calc.php

 

yea he is going to sell them to me in 4th period. if there ikes or sba's i will buy them for face. is that a smart idea? and for anything else i was thinking 6X face value? again thanks for your time

 

Also check to see if there were any burglaries reported. The rightful owner will appreciate it immensely, and karma will reward you over time, even if the owner doesn't. (I would reward that person greatly if they also assisted law enforcement)

 

i will message all my police friends and ask. thanks for reminding me about that.

 

Wow 6X!?!? I was worried he burgled someone, and here you are trying to rob him blind? Are you profiling him "druggie" and this is why you want to rip him off? Or are you simply trying to take advantage of someone who doesn't know better? Either way, that sucks, and you suck for doing it. You get no help from me. I make fair, honest appraisals and offers. I do very well. If you need to cheat someone to do that with coins, find another way to make money! Shame on you!

 

ok 1. he came to me asking if i wanted them.
2. i can offer him any price i want because my silver goes into a collage fund.
3. 6 times face vaule for %40
4. i dont have a job i have really limted money.
5. who are you to tell me to find another way to make money. i dont profit from any of the coins i get. any silver i get goes into a safe.

 

In case I over-reacted and you were ASKING if 6x is fair, no it is not. With the current spot value, no less than 15x face IMO. It's at around 20x right now, and the whole cash now plus convenience (no special trips to a bullion buyer) is worth something. I paid 20x just yesterday for some 90% from a clerk at a gas station. Word gets around. Now I have bank tellers, clerks, cashiers, all kinds of people calling me. You gotta properly grease those wheels if you want them to keep turning freely....

 

can you not read 6X face for %40.
so it has became obvious to me that you arnt a math guy. so here let me do it for you.
a 1965-1970 kennedy half has 0.1479 troy ounces of silver. silver vaule as of 12:04 west coast time is 4.24 and im giving him $3 i thing thats fair. also at 20X face value there is no profit 20X.50=10 silver value 10.37. no worth the gas IMO.

 

how did these coins you haven't seen yet go from

to this:

I will reply to each point you made:

1. This is good. More people coming to you is good, and builds you a reputation. It is up to you and your practices what that reputation is.

2. Regardless of the reason for it, ripping people off is bad. Period.

3. This was not stated before. You said 'silver dollars' and there were no 40% silver dollars made, save for some Ikes. How do you know now what you didn't know a half hour ago? 6x is fair for 40% halves.

4. Still not a reason to try to cheat another person who is obviously in worse shape than you. He must be, the way you look down on him.

5. Who am I? I am reputable. People use my appraisals in divorce court, estates, and for advice on the day-to-day. Just because you don't flip them immediately, and instead sock away for the future, does NOT mean you don't profit. If you buying 90% silver dollars at 40% value, I don't know how you can say you aren't profiting.

 

yes I can read. that was the first mention of 40% anything. in post 7. I see you visited coinflation.

I see you aren't a reading comprehension guy, so let me help again:

Lastly, you said it was at school. You were already going there. You are not using any gas for this.

I trust you hadn't seen this post yet:

I know enough arithmatic to know this scenario doesn't add up right. I hoped you would have alleviated some of my misgivings about it, but you attempting to insult me and your sudden backtrack to 'Oh these are 40%' from 'unspecified silver dollars' says it all I think.

 

Personally, I don't think you should be dealing with a "drugie" at all. Try to conduct your business with more reputable people.

 

They are likely going to be Ike dollars, of which only some are 40% silver and worth approximately $9 melt right now according to coinflation. Be sure you know how to tell the silver from the clad Ike dollars. The clad Ike dollars are most likely worth face value unless they are gem or a variety. I would also ask where he got them. If he has Morgan or Peace dollars or ASEs, I would be highly suspect that they are his coins unless he received as a gift or inheritance. No discounted price will be worth the trouble you could get in if he acquired them in an illegal way. BTW: I would not conduct any business on school property. Good luck. TC

 

Druggies offer the best deals and potential for profit though. I made several hundred dollars off one this year. A guy I knew in high school had acquired his fathers collection and was selling everything. He had taken some proof silver one crowns to one of the dealers in town, you know what he offered him? $5 per coin knowing full well they were ~$25 per coin.

I offered $6 each for the first batch, then $8 each after that for almost 90 of them. Plus he was throwing me folders of Lincoln cents and completed jefferson whitmans with all keys and wars for like $5 per set. He was happy and so was I.

So what's the problem? He had a car, access to a computer, other dealers, etc. So why should I offer him anything more than what he would settle for? It's the sellers duty to realize maximum profit, not mine, until I need to sell.

Not to mention I KNEW, as in factual evidence could see, my seller going to purchase pills with the $100 I would give him. My money is more precious than a pill, so why am I going to hand over more to waste when the seller was happy to begin with? Should I aide him in getting twice as high by offering him something 'fair'? I don't think so.

 

If they are stolen from his parents then you may eventually lose the coins and the money used to acquire the coins. Regardless, when you go somewhere to ask for help it is a good idea to be more polite than you have been in this thread.

 

I may get some flak for this, but so be it. If #1 the "druggie" is selling these to feed his habit I think that the OP should buy them for as low as he can get. #2 if they are stolen they should not be bought. #3 its not the OP's job to do the research on how much these coins are with when the "druggie" is just trying to unload them for his fix. It is up to him to take even 20 minutes online and do a little research and make an offer to the OP. I think he should ask x2 face, because if this money is going to be used for drugs its just going to pad the pockets of some drug dealer who can buy more drugs to sell to others. So I think if these coins are indeed the "druggies" then the OP should buy them for as low as possible.

This situation is a little different then grandma selling her deceased husbands coin collection without knowing what she has or a young kid selling a collection he inherited without knowing what he has as well. If the kid is really a druggie then I think he should get hosed. The less drugs he can buy the better.

 

How do you, or the op, know what the money is going to be used for? Sounds to me like an excuse to justify taking advantage of someone to himself. I think too many assumptions are being made by the op.

Most of all, I have personal integrity. It will not allow me to basically steal from people based on what I think they look like or what I think they MIGHT buy with the money. We should not be condoning a school kid who wants to rip someone off. We should be promoting honesty in our hobby.

 

I think I clearly stated "if" the money is for drugs. I am not making the deal and I don't deal with druggies. Also you or I do not know who the "druggie" is so who says the OP is making an assumption. Maybe he is maybe he's not. I clearly stated that if this money is going to drugs that I think he should get ripped off because I don't like the idea of a drug dealer getting more money. I also stated if it were more normal situation that asking that low wouldn't be right.

What we should be condoning is for a school kid to stay away from someone involved in drugs even if he can get a easy score on him.

 

I personally would not offer less for an item that I want simply because I feel I am morally superior to the person selling it. For all I know, this person might be a recovering addict and he might fall off the wagon when he realizes how little he just got for his grandfather's coin collection.

 

So, to use another analogy, I get the idea that most folks pay fair market value when they go to a garage sale? I don't think so.

[edit] Oh, and if the supposed "druggie" doesn't want to get ripped off, let him take them to a pawn shop. I'm sure he'll get fair market price for them there as well. [/edit]