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Buying coins with the market in a downward Spiral
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<p>[QUOTE="jfscmedic, post: 2928483, member: 82941"]Going to look at a coin collection this afternoon from a couple who are wanting to sell.</p><p>I'm not a major coin dealer but a collector and seller at a local flea market. My biggest problem is I have no clue what this collection contains..It belonged to a family member who passed away and the people know nothing about coins. First off..I always pay fair prices..sometimes more than my local coin shop if it's something I want for my own collection. But with silver prices falling everyday it limits what I can afford to pay. I can't afford to buy it and hold on to it for Months waiting to see what happens. Just a few weeks ago we were selling Silver at 12X even 13X Face. Now my local coin shop is paying 10.5 X face which means I'd have to buy it at 9.5X or 10X face and sell it fast before the price drops even farther. Morgans...slabbed coins...key dates I'm more comfortable buying. Just have to see what I find. They may turn out to have a bunch of Ike Dollars...Bicentennial Halves and Quarters...Non silver Kennedy Halves...and Worn out wheat cents as I have found before. Or maybe they have a 1893-S Morgan. Who Knows ?? Maybe I'll at least find something nice for my collection and simply send them to the coin shop to sell the rest if It's more than I can afford.[/QUOTE]</p><p><br /></p>
[QUOTE="jfscmedic, post: 2928483, member: 82941"]Going to look at a coin collection this afternoon from a couple who are wanting to sell. I'm not a major coin dealer but a collector and seller at a local flea market. My biggest problem is I have no clue what this collection contains..It belonged to a family member who passed away and the people know nothing about coins. First off..I always pay fair prices..sometimes more than my local coin shop if it's something I want for my own collection. But with silver prices falling everyday it limits what I can afford to pay. I can't afford to buy it and hold on to it for Months waiting to see what happens. Just a few weeks ago we were selling Silver at 12X even 13X Face. Now my local coin shop is paying 10.5 X face which means I'd have to buy it at 9.5X or 10X face and sell it fast before the price drops even farther. Morgans...slabbed coins...key dates I'm more comfortable buying. Just have to see what I find. They may turn out to have a bunch of Ike Dollars...Bicentennial Halves and Quarters...Non silver Kennedy Halves...and Worn out wheat cents as I have found before. Or maybe they have a 1893-S Morgan. Who Knows ?? Maybe I'll at least find something nice for my collection and simply send them to the coin shop to sell the rest if It's more than I can afford.[/QUOTE]
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