Debating on selling my stack

I think it's very important that you find out how that offer breaks down. My guess is the government issued 1 oz coins are spot or slightly above, the generic rounds are slightly below spot, and the junk silver is 5-10% below spot. If that's the case, that's all very fair. If it's not, the offers are bad.

I'd sell the government 1 oz coins only for above spot. I'd accept selling the generics for slightly below spot. And I'd hang on to all the junk silver unless I really needed the money for something better or very close to spot was being offered.

279 oz of junk (not counting Peace dollars)=$4743 at spot (calculated at .715 per $1 face). A good deal. Or $4505 at 5% under, a fair deal.

166 oz of gov issued 1 oz coins (not including Libertads) should average $18ish each with silver at $17=$2988, a good deal. Or $2822 if sold at spot, a fair deal.

12 oz of generics =$204 (spot), a good deal. Or $192 at $16 each, a fair deal.

I'd expect $7935 alone on those for a good deal.

A fair offer (5% under for junk, spot for gov issued, and $1 less / 6% back of spot on the generics =$7519. That's a reasonable offer but one I still wouldn't accept.

This does not include the Peace Dollars or Libertads that command an obvious premium.

 

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Silver is expected to rise every year and never does. It's about to close this decade at an actual loss. My God palladium, Bitcoin, Gold, stocks, etc, etc, all exploded this decade and silver is going to close 12-31-19 lower than it opened 1-1-10. That's asinyne. And this is the asset that is hyped more than any other asset on Earth. Why should he believe the "it's gonna rise next year" story when it's always wrong ?

 

Yes, for a lot of collectibles this is true. I discovered it first in the "Collector's Plate" frenzy in the late 70s and early 80s. I got pennies on the dollar. Then I got bit by the "Baseball Card" craze but got into it late and, again, got pennies on the dollar.

It is one reason an elderly friend in Norway has been sending me home on every visit with antiques and personal items. She told me for years that her two nieces and a nephew will just back a dumpster up to the steps and toss everything. She just entered a nursing home and at 91 is rapidly heading downhill. I suspect she is right about the household contents. Folks in Norway have a high standard of living and don't want "old stuff."

I've done better with coins, and primarily because I held an auction in August with a local auction house that has a great following of collectors. I couldn't believe the prices realized. My junk silver went higher than people could have purchased it at the LCSs. It went so well that I am having another auction with them this coming Saturday.

Steve

 

One at least has a chance of getting something back with coins and metal. How long that will remain the case is anyone's guess, but it's still possible now.

We can only hope that coins don't go down the road of other collectibles, the vast majority of which have become junk, as others have witnessed here already.

Like others here, I've been involved in cleaning out relatives' belongings only to find loads of interesting things that have no value and that nobody wants. Entire photo albums were tossed (I tried to save what I could, but I only have so much room) old furniture, some of it beautifully made in wood, was seen as "old" and "used" and subsequently discarded. An entire lifetime of "stuff" just rolled into the dumpster. In the end, it all has value to no one but the possessor, or so it seems.

I'm trying to "de-junk" myself. Anything mass produced that I bought over the years on impulse has gone to the donation pile. Trinkets that have no meaning to me are joining them. I only want to keep what has real meaning for me and, as I delve into my stuff (which is probably far less than the average person because I've always resisted buying a house) I'm finding that a large portion of what I have was purchased on a whim and really doesn't mean much to me in the end. I think of the money I could have saved on that crap.

 

I'm with you, Ed, except I have a house. But before our August auction we went through every drawer, closet and shelf, looking for the clutter that did not enrich our lives. My coins sold in one room, all the other stuff in another. It felt REALLY good to be "lightened up."

For what remains of my life I want to primarily concentrate on relationships and experiences (and coins, and tokens, and family history, and gardening...).

Steve

 

I'll just put this out there for your consumption. This was the first part of November. A buddy of mine from across the state was at an estate auction. He wanted the farm equipment. He sent me the photo below along with a number of others. Random bags of coins, mostly old silver. I was able to do the arithmetic and arrived at a spot value for each of the bags of old silver. I gave my buddy my maximum bid which was spot value.... I did not win a single bag. There are folks out there willing to buy. Just depends on how much effort you are willing to put in to achieve your maximum value. I do believe the dealers offered fair numbers. They are dealers and have to have a little meat left on the bone to realize a profit.

 

3rd LCS offer:

80 - American Silver Eagles +1.00
41 - Philharmonics spot
27 - Maple Leafs spot
14 - Australian (13 Kangaroos/1 Funnel Web) spot plus
12 - Generic Rounds 1oz -$1.00
4 - Britannias spot
1 - Libertad spot plus
1 - Libertad 2 oz spot
505 - 90% Dimes $11 to 11.50
323 - 90% Halves $11 to 11.50
713 - 90% Quarters $11 to $11.50
10 - 90% Peace Dollars $12 to $15 each

 

I've been holding for 5+ years so I'm ready to move my $ into a different investment. I never bought this as an "investment" more as an insurance policy on my $, although it's a non interest earning savings, and the market on silver has been typical. I have been buying little chunks here and there when silver dips. But I havent bought silver since it was in the low 16s. However I still want to make $ back vs settling for first offers.

 

I appreciate the info and insight/opinions. I figure it might be worth my time to sell little by little vs going to the shop(s) and selling all at once. At the same time it does seem easier and more valuable to just sell at once when you factor in my time, shipping (if needed), and driving around meeting CLs buyers.

 

Could he at least break even if a seller goes this route? I would like to dump many of my ASEs too, but the prospect of dealing with potentially dishonest buyers has me ambivalent about this.

 

Out of that, I'd sell the Eagles to him for $1 over. I'd sell all the junk silver at his offer of $11.50 per $1 face (or 5.4% below spot). I'd sell the Peace Dollars depending on how close he gets to $15. I'd sell the Philharmonics at spot (they are typically the lowest premium of the bunch). I'd sell the generic rounds for $1 under spot.

I would keep the Maples, Britannias, Kangaroos +Funnel Web, and 2 oz Libertad for a later date and better offer.

 

It gets tricky, because eBay always excludes Coins and Paper Money from those promotions now. You can list in another category, but then not as many people will find your listing.

But, yes, that $10 FVF limit can be a really good deal for a seller. I've also received half-price and various other offers.

 

Smart auctioneers buy bulk coins from LCS and salt their auctions. Buyers pay a premium to "search" these lots. They learn over time that any better dates are damaged and that is because the LCS searched the coins when he bought them. Compare the coins offered at the "estate" sale to the quantity you found in your own family. Granny most likely had a hand full of older coins not zip lock bags full no matter what she kept hers in.

 

Yeah, well, my granny had about a suitcase full of coins, distributed among her three children when she passed. Not a key in the bunch.

I've just finished a first pass through probably 50+ pounds of coins in tobacco tins that a friend inherited from her father. Dozens of rolls of cents and nickels, mostly accumulated during the 1960s (a few from after 1970). A hundred dollars or so FV of silver, mostly Roosies, some Washington quarters, some halves and Mercs, nothing as old as a Barber. And again, not a key date to be found. (I'll confess I only spot-checked the cents, nickels and dimes -- I did run through all the dime rolls to make sure they were all silver and all Roosies, which they mostly were.)

Why not? First, key dates are rare. Second, people have been searching for them for a long time, so most of them were hard to find in circulation even when silver was still circulating. Third, he had some coins separated out and marked with values; my friend passed those down to her nephews, his grandchildren. They cashed them in at the bank. Roll-hunters, take note.

Just last night I saw some new BIN listings from one of eBay's biggest lot sellers (gti2), for bags of 5000 cents guaranteed to contain a circulated S-VDB (something like $1800), or an S-VDB and all the other keys ($3000-something). He said "I toss in one of each key into the bag". I'm virtually certain that every one is a serious problem coin. He claims most of the "unsearched lot" sellers on eBay buy from him. It wouldn't surprise me a bit.

 

Aren’t you the guy that ripped off members here in the “Buy” section?

 

The children or heirs of coin collectors can expect lots and lots of coins. Mine won't because I have pre-sold everything that I collect.
A phone call from my heirs gets a visit to retrieve the stuff and payment. I learned my lesson the last time the hospital killed me.
I found my prized possessions stacked up and ready to be put on the curb so that my widow could have a tidy house.

 

Oh man!!! I almost hit the "like" button.... But that just seemed... So wrong!

 

hey Jeff I was able to get rid of some stuff using Let-go. It's an app and it is completely free to sell and buy. What's great about it is you could set your listing radius and keep it very local. I was able to get some cash for quite a few things. You can also list for free just to get rid of it without having the hassle of disposal.

 

“But before our August auction”
Steve,
just curious about auction fees in your neck of the woods. Over here my local estate liquidator
charges 6% for real estate and 15% for personal items. No buyers fees. How does that compare?

 

The difficulty was that the house and stuff were 400+ miles away from us, and in a rural/small-town setting. We hired movers for the stuff we wanted most to keep, subject to space constraints (which included a large-ish storage cube that I hope we won't be renting for the rest of our lives). There was simply no way to have someone hanging around to meet potential buyers.