I Have A Chanch To Buy A Couple Of Thousand Dollars [face Vaue] But I Told The Family That Owns It To Take It To A Dealer And Have Him Appraise It And I Would Give Them 10% Over What He Says Plus I Will Pay For The Appraisal Fee. There Is Everything In There And May Be Alot More Then 2 Thousand Dollars. Would You Note Every Coin In There Before Taking Them To Dealer. I Just Started Coin Collecting . Thanks Duane
i would and i also think its dangerous to make such claims what if the coin values come out to be 100000 will u pay 110k for it? Its diificult to know what the coin values are just by face value alone. i would make a list of everythign before sending to the dealer so you know you are getting everything back and the selelr doesnt keep the best coins for himself.
How To Buy A Coin Collection Thanks For The Reply I Am Not Committed To Buy It If Its To Much The Dealer Can Have It. I Am Not A Rich Person. I Thought That It Was Probably A Good Idea To Write Down The Coin Dates Etc. I Just Wanted To Make Sure About That Thanks Again Duane
I don't know, Duane, maybe I'm just not as honest as you, but if I were buying a collection from someone who didn't know the value of what they were selling, I sure wouldn't offer to pay for an appraisal that is going to benefit them. They should have a price in mind or be willing to work with your offer. Not to mention, a coin dealer will always be willing to outbid you on your price if there's anything worth having in the collection, so having a dealer do the appraisal may be outselling yourself. Of course, this is just me, and what I'd be comfortable with. Hopefully it works out for the best for you. Guy~
This Collection Is From An Old Friend Of Mine Who Just Passed Away , And His Family Said They Were Going To Sell It. I Know He Has Been Saving It For Years. There Is Paper Money In There That I Have Never Even Heard Of And The Only Way I Would Buy It If Somebody Else Would Give An Appraisal And The Family Wouldnt Feel Like They Were Taken Advantage Of. I Think You Know What I Mean. Thanks For Giving Me Another Take On This Duane
My gut feeling is that you are making a mistake, particularly if you are just starting out collecting. There are probably a few pieces you would like to own in there, but almost certainly a lot you won't want after you get it. I sense that there is too much emotion tied up in this transaction for it to end up being satisfactory to everyone.
Buying Collection Thanks Cloudsweeper You Are Probably Right On About This, There Are 2 Briefcases That Weigh About 30 Pounds Each And I Think There Are A Lot Of Rolls Of Just Silver Worth Only There Weight And I Sure Would Have To Sell Them To Recoup Some Of My Money. Boy Now I Am Not Going To Sleep Tonight. But I Think That This Is Propably A Pipe Dream. Thanks Duane
For things like bulk silver, paying 10% over what a dealer offers will leave you with a bunch of material that you really cannot do anything with. In essence, it will be overpaying. It is very risky to get into buying large collections, unless you have a fair amount of experience in the coin hobby. My best advice to you would be to offer to help them sort through the collection and see what has value. Although helping them out, it also helps to educate you and give you experience. Instead of buying the whole collection, I would pick out a few nice pieces that you want, and pay them fair money for it. I don't mean that you should just cherrypick there good pieces, but buy a few things that you really want for your collection. Then, let them take the rest of the stuff and sell it through a dealer.
Duane: First, welcome. Second, if there is really a bunch of 'junk silver' you have to realize that the only way that you are going to make a profit is if the value of silver rises to where you can sell it. Personally, I'd be willing to do that, just on the chance that there may be a better date tossed into the groups. What ever you decide to do, good luck. Let us know how it goes.
I Hate To Be A Pest But What If I Were To Use The Red Books Lowest Grade (because I Think They Are All Well Circulated) And Use E-bay And Average The Coins And Currency , Do You Think This Is A Fair Way To Value Collection For Me And The Sellers. Junk Silver I Guess You Just Pay The Going Rate For Silver That Day. So Far I Really Appreciate The Answers To My Questions As You Can See I Am Really A Novice Thanks Duane
Duane: The Red Book lists retail prices, use the Blue book for closer wholesale prices, if you can't get a gray sheet. And, yes, silver is the value that day, but dealers pay about 10 to 15% below, allowing for profit, smelting, etc fees & overhead costs.
Thanks A Lot Treashunt That Really Helps A Lot. That Really Helps Me In Making My Decision. Thanks Again Duane
Duane: You are welcome, and you are not a pest. The only way to learn is by asking, and I still ask a LOT of questions.
