Coin collection assessment

Discussion in 'Coin Chat' started by Dimedude2, Jan 20, 2019.

  1. Dimedude2

    Dimedude2 Member

    My wife’s friend’s mother had a bunch of stuff which I looked and assessed a rough estimate value. It took around 4 hours to do this and my eyes got tired! There were a bunch of common circulated silver Roosevelt Dimes and Washington Quaters, about 500 wheat cents where I cherry picked a 1922d in VG, some worn Buffalos and Liberty Nickels, a few common early commens, 27 common circulated Peace and Morgan dollars, 10 circulated Indian head cents, and other stuff. the highlight was a $5 1886s half eagle. I used the gray sheet to estimate the values and graded the collection conservatively. She is looking to get rid of it but I want to give a fair price. Have any of you bought collections and could you give advice?
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  3. messydesk

    messydesk Well-Known Member

    For the circulated silver dimes and quarters, the amount of silver in ounces is face value multiplied by 0.72. Multiply by 0.67, then offer spot for that much silver.

    1921 Morgans and common circulated Peace dollars bring about $16.50 each right now. Earlier date common circs are about $17.50. The 1886 $5, assuming it's not a high grade coin, probably about $320.
    Seattlite86 likes this.
  4. myownprivy

    myownprivy Well-Known Member

    What? Absolutely not. Circulated junk silver should be sold at 11x face. If you buy from her at around 9x face that should be about what a coin shop would pay her. There's no reason for you to rip this old lady off.
    You should pay 90 cents per dime, $2.25 per quarter, $4.50 per 90% half.

    The post below recommended that with silver at $15.40 right now that one silver dime (.07234 asw) that should be worth $1.11 should be purchased from her at 10 cents x 72 x .67= or 48 cents per silver dime! That would be ripping her off.

    Paul M. and Dimedude2 like this.
  5. Dimedude2

    Dimedude2 Member

    I was thinking about a 10.5x compromise, which would be better than what you would get from a coin shop.
    Last edited: Jan 20, 2019
  6. longshot

    longshot Enthusiast Supporter

    I think messydesk was saying multiply by .67 instead of .72, allows for a little wear on the coins.
    Last edited: Jan 21, 2019
  7. Dimedude2

    Dimedude2 Member

    Seriously? A 7% silver loss due to wear?
  8. messydesk

    messydesk Well-Known Member

    Correct. Also allows you to make a little if you're selling it, because unless you piece it out retail, you're not getting .72*spot per dollar face value.
  9. myownprivy

    myownprivy Well-Known Member

    Which works out to about 10x spot at $15.40 an ounce (Today's silver price). I think that is perfectly reasonable.
  10. Dimedude2

    Dimedude2 Member

    The 0.67 * face value * spot price makes sense.

    Now, what about the other stuff?
  11. Dimedude2

    Dimedude2 Member

    Looks like I will be buying some stuff, mostly silver
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