Antique Store Bargain?

This may have been a risky move for a new collector, but my kids and I found an antique dealer in our little town that was going out of business and bought his entire coin collection for $500. We had visited the store before and were excited by the fact that his coin collection was an unorganized mess. We would buy an occasional coin from him and were always amazed how he would pull coins out of various drawers and small baskets and containers filled with loose coins and envelopes. A couple of weeks before he was about to move to Europe, we stopped in and he dumped all of his coins on his desk for us to look at when I decided to make the big move. I had intended to do some detailed searching through the pile before making him an intelligent offer, but the moment took over and before I knew it we had a deal. I had to elbow one of my kids when he pointed out to me that there was a gold coin (.11oz Austrian Ducat) in the pile during my negotiation! (I had already spotted it and covered it up.) To make a long story(and my first post) short, we ended up with around 450 assorted US coins(not counting 600 wheat pennies), and about 450 world coins. We have been busy researching and cataloguing ever since. No major rarities that I'm aware of yet, but lots of interesting coins, some of which I will have to post here eventually for help. Anyway, thought you folks might appreciate the story as we do your fine work in the forums. Keep up the good work. Back to my KM #'s........

 

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WAY TO GO---I know a guy just like that but so far I don't have the money to buy his coins.....Then there is another guy...but I won't go there!!!

Speedy

 

Sorry for not including more details last night, but it was getting late and lengthy. I'm still in the early stages of sorting, identifying, grading, etc. I've chosen three ring binders and 2x2 coin mounts(from Amos). Are they good for long-term storage/preservation?
Anyway, here's a partial list, not including the world coins, with more details to follow later:

Coronet Large Cents -- 1818,1827,1837,1838,1838,1848,1850, and a couple of no dates. Most appear(to a newbie using Photogarde) to be G4 with a couple of VG-8.
Draped Bust Large Cents --one no date, one partial(180?)
Shield 2 Cents --1865 G-4
Shield 5 Cents --1866 AG-3, 1867 G-4.1869 G-4
Liberty Head 5 Cents (all G-4) -- 1899,1900,1902,1904,1905,1906,1907,1908,1910,1911
Seated Liberty 25 Cents --1873 VG-8, 1876 AG-3, 1877 G-4, 1878 G-4, 1891 F-12
Kennedy Halves(UNC, I think) 11 1964's, 27 1965-1969, 32 1971 and later
Walking Liberty Halves(range from G-4 to VF) --1918S, 1939S, 1940, 1943(several)
Also, 18 Peace/Morgan, 34 Sacagwea, 19 Anthony's, and assorted Buffalo Nickels, Mercury Dimes, more. Haven't had time to grade yet. In the end, I think I got my money's worth, but I'm not in this to make a profit, just want to build a nice collection with my kids(6,9, and 11--all mint state with a few surface marks/abrasions...good luster!). We've already had many hours of fun while organizing and learning.

 

Gee, I think I've only got a half dozen or fewer 19th century coins in my whole collection.

I don't know if you're going to break even price-wise, but I think the time you're spending with the kids is going to put you way over the top.

 

thats a nice find, poor guy though

 

The austrian Ducat should be somewhere in the price range of about 50 bucks, if it is authentic. I'm guessing it's a 1915 restrike, and that's about the rate - they are, far and away, the most common. If it's authentic and not a 1915 restrike issue, then the price could be much higher, depending on what you got.

So, all else considered you spent $450 for about 450 US coins, quite a few appear to be worth more than a buck (of what you listed), and you got 450 foreign coins, which I know from first hand experience can be worth hours of fun with kids AND 600 or more wheat pennies. I'd say you got yourself a good bargain. A heck of a deal, all things considered. Cost averaging says you did well - I can't say whether you got your money's worth in resale, because G-4 conditions can sometimes be hard to move, if you ever decided to part with them - but as you said, you didn't make the purchase to make money.

 

I say you and the guy both got a good deal...I bet he was wanting to sell them and you were wanting to buy them and that is what makes a good deal!!!

Speedy

 

what he said.

 

The gold coin is, to the best of my knowledge, the 1915 Restrike mentioned above(KM 2267). The dealer was a really nice guy who wanted to get rid of his stuff and get on his way, and it helped that he was always amused by my kids' knowledge and enthusiasm. I think we all got a good deal. I surprised myself by spending alot more time with the world coins initially. Pehaps it is the lure of the unfamiliar. I'll try to list more coins and maybe scan a few if I can figure it out.

 

O no---you better watch it....looking at world coins more than US is sure to hurt......

Sorry but I had to worn him GDJMSP!!!!!!

Speedy

 

I find myself wanting to own more world coins...lots more! They seem reasonably priced....

 

YES YES YES! Join us in the darkside , will ya

Edited to add: They aren't always cheaper, but yeah, overall they are... Just depends on what ya like.

Edited to add : COME NEAR THE DARKNESS!!!

 

I find myself strangely drawn to Queens Juliana and Wilhelmina of the Netherlands and their guldens.

 

If that 500 dollars buys you quality time with those kids then its one of the best coin investments you could have made. Nuff said.

 

WOW GD, I'm drooling....