Guys, Saw on craigslist that a guy wanted to trade some fairly rare slabbed CC Morgan Silver dollars for silver coins. I wrote him back asking what he was asking in silver for them. He was basically asking 175% of the market value ($15 in face value of silver for a coin that goes for about $260-275 at auction). At $39.37 (current spot), that is about $420. I wrote him back to confirm that this is really what he was asking and got this reply: Hello, I posted a new listing with some photos of the coins I have left. I have already sold 4 of the less expensive ones I had. I have a guy coming over to look at the 89 CC. Your calculations at todays prices appear to be accurate. Please keep in mind a number of people out there (maybe even you) may have aquired thier silver coins at a much lower price and it might very well be worth it to them to trade me some plain silver coins for some of my nice looking Rare CC dollars. I doubt anyone would go out at todays prices and buy some silver to trade me but maybe someone has $ 20.00 worth of Silver they bought in 2000 they bought for 100.00 bucks and TO THEM it might be an ok trade. Let me know if you would like to work something out. Summary: "I figure people made good money on silver, so they can split their profit with me in trade." I wrote him back, wished him luck and said that if they don't sell and he is interested in market value, drop me a line. BTW, if anyone wants an 1889-CC PCGS VF35 for $105 face in silver, I can point you his way...
I guess it doesn't have to make sense to you (or me), It just has to make sense to the person buying the coin.
Everytime I hear something like this that relates to Craigs list sales of coins I figure the coins were slabbed in China. Yes you can buy the fake slabs from there every day. BTW one of the grading firms is sueing people for selling them here in the US.
That's ridiculous. Sure maybe it would make sense to someone else but only if they are clueless. Clueless people don't have 100s of dollars in silver change and are in the market for very rare slabbed morgans. You should offer him 25% of the market value of the coin and say, well I figured you probably paid far less for them when you acquired them and that it would be worth it to you to give me all the profit you earned.
