Silver Quarters: Story Time!

some of you may have seen the roll searchers thread where I scored alot of halfs out of less then $90.

Well here is another story for you.


Im sitting at work and I get a call from one of the friends at the bank who wants to confirm the value of silver in a coin and what someone might pay. he says he has a customer in there right now putting silver quarters into the machine, I can hear them plinking away on the phone. I tell him to stop right now and get everything out.

I find out that this customers grandpa died and he went to a coin shop and they only wanted to pay face value, and he needs to pay for the funeral.

I find out this customer has already dropped $400+ into the machine, is half way through his bag and has two more sitting at home.

Now I dont have the money to buy all these coins but I tell the bank manager that I will help this guy get alot more money through someone that wont rip him.

so the manager stops the guy and gets to talking, and I find out that this guy is a friend of mine, I didnt know his grandfather passed but they need the money by the weekend.


in return of my information my friend is allowing me to buy whatever I can (only $40) at face value.

these coins range from the 1900 to 1964 from what I saw in the bag, some are worn, some are ms63+, from what I understand there is also older coins in the other bags too.

my friend is coming over tonight with all his coins, im going through them free of charge and going to pull any rare's, dd's, high quality quarters out for him so he can sell them on ebay to make even more money for this funeral, or to save them.

im going to be a kid in a freaking candy store and ill def take pics for you guys!

 

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Kinda hate to tell you this, but you should have just let the guy put all of them silver coins in the machine. If you are not exaggerating a bit, you would have made a LOT of money on those coins. If he was halfway through the bag and had put $400 into the machine, do the math. That's about $800 face value, or eighty rolls of quarters!!!!!!! And if he has 2 more bags just like that, that's 240 rolls of silver quarters!!!!!!! Do you know how much that is worth?? I'll tell you. It's roughly $24,000 if you just say that one roll is worth $100!!!!! Good luck. - coincrazed

 

I agree, the problem is, once they are in they are sealed and sent to loomis.

im working with the branch manager to by pass the rule and allow him to pull them out.

im a honest guy and im not in it for the money.

plus once I found out it is a friend, why screw him? he is in a down time as it is and they need every little bit to pay for this funeral.

 

I agree, I don't think thats really honest, and to top it off he's a friend. Very cool and be sure to post any finds; by the way what does he plan to do with what you don't buy?

 

well ive got a contact for the junk silver.

anything thats worth any more he is going to sell on ebay.

he did say he is going to hook me up for helping him so I may get a couple really cool coins.

im going to have tons of fun tonight.


from what I understand he has even more coins that are in bags.

 

Call APMEX, they'll buy for a fair price, I believe. some dude sold ~$860 in 40% halves to them for like, $4k or something.

 

well I got back to this guy that is willing to buy, he is going to pay 10x face value at $500 increments,

so if my friend decides to go with him he will of turned his lets say $1500 in quarters (there might be more or less) into 15 grand.

 

It's good to see that you are an honorable friend and gentleman.......


The world would be a better place if there were more like you.

 

This sh!t head coin dealer was probably hoping he would counter with something real low, and then he could take advantage of him, not expecting that he would end up at the bank. :goofer:

What kind of machine is this you are talking about? One of those coinstar type machines? :hammer:

 

you can get more than 10x face...

 

Wow ! What a discovery i wish i could find some Standing Liberty qtrs or ms-1932-s 38-s,39-s,46-s & maybe a 32-d if you looked hard enough good luck you guys:0)

 

ive found spots that are 10.5-11x face value in the state, but he has to drive, doesnt have the time because the funeral is this weekend.

Im going to go through everything and pick out whatever I want for face and im going to try to find him a great condition coin for every year and mint mark so he can save it to remember his grandpa.


I expect him to sell $500 worth to this buyer for now.

 

Wonder who that dude was?

Maybe he didn't sell maybe he got a quote and is holding?

Pawn something to pay for the funeral and call Apmex. They will treat you right and fair!

 

You've got a long night ahead of you (maybe more). Hey, can you tell us who that dealer and coin shop are that lowballed your friend or is that not allowed here?

 

i can't wait to hear the details of how much silver you find and also what other stuff is there.

if you find a nice 1917 SLQ type 1, pm me. i am looking for a nice example and willing to pay a little better then a dealer or what the average sale price on ebay is, because its going to a situation i hate seeing people in. really if you can just post whatever good stuff you find, because i am sure people here are interested (i am):goofer:!

 

Save the Barbers for ME!

 

Chris

 

Can't wait to hear how it goes.

Glad that you were able to stop him before it was too late. Friend of mines grandmother was so excited to tell them that she cashed in her childhood piggybank at the bank.....they didn't have the heart to tell her what she did since she was super excited about the money she got for it.

 

waiting to hear back from him, he never called me last night and I gave him a call at work to tell him some of you were intrested if he had any rare coins and said he would call me at lunch and that he was busy.

im getting the feeling he doesnt care and just wants the melt value, which is sad.

 

Screw him? Screw him? My friend, the last time I checked, it was HIS boneheaded idea to go pump all that silver into the machine, not yours! I'll tell you what my dear friend Coinmojo from another forum said to me once regarding something similar: "I would be a little peeved at him for pumping silver into the machine." And rightfully so!

1. He knows you're a coin collector. (or he should know)

2. Since you're a coin collector, you probably know some good dealers he can sell those coins to, or you could at least give him some advice on how to sell those coins.

3. Even if he didn't have the mental capacity to think of #2, he could have at least sold you all of the coins for face value. That way, you would both be happy. you would have the coins, and he would have the same amount of cash as he would have gotten if he went to the bank.

SO WHY ON GOD'S GREEN EARTH DIDN'T HE COME TO YOU FIRST?!? WOULD IT HAVE BEEN THAT DIFFICULT?!? My friend, if one of my so-called "friends" had pulled something like that, I would have read him the riot act and then some. Not because he didn't give the coins to me, but because he would do something so foolish as to pump several thousand dollars worth of silver into the coin machine at the bank. I hope you let him know how much more money you are going to make him, and what a friend you are being by doing this, and what a foolish boner he did Mojo probably would have been even harder on him if he had read this. Good luck. - coincrazed