need help on fair value...thinking bout buying Morgans from a relative

one of my relatives is strapped for cash is trying to find a way to pay bills. he knew i was into coin collecting so he decided to show me all the coins he has saved since he was a kid. after going thru he wanted to know what the silver in them were worth. i told him at melt price he prob had close to $2K, but many of the coins would hold a collectors premium over melt. he said he was struggling to pay the bills so he was gonna take them to a jewler or silver buying place and sell them this week since they just sit around and he'll never do anything with them.

i told him to hold off a little bit, that i was interested in buying it or i would try to sell it for him to get the most out of them rather than him getting ripped off.

anyway he had some morgan silver dollars i was interested in. two of them are in great great great condition. but the others are rough. i am posting pics of obverse and reverse of all the morgans.

he had two 1878 morgans with no mint mark and 7 tail feathers. those two are the ones in great shape at the top of the pictures. what would be a fair price for both me and him if i wanted to purchase these two 1878 coins?
i'm also interested in the value of the other morgans since they are all in poor condition but older dates.

thanks.

he also had 4 rolls of silver quarters, 4 rolls of silver dimes, a couple rolls 90% halves, couple rolls 40% halves, a bunch of silver rounds, 4 ASE's, and quite a few silver foreign coins. i'm thinking about buying it all from him for a good deal.

 

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Buy it from him. You'll be doing him a favor........

 

You need better photos of the 1878's.

For the rest of it, though, since he is a relative, offer him spot for the junk silver and a small premium for the SAE's if they are Bu or PF.

Chris

 

offer him 5% less than spot.

 

Since I'll be going through this at the end of the semester (my grandmother wants me to sell all her coins for her, so I'll have to buy any that aren't just melt value) I thought I'd chime in:

I think you have a couple options. Most important is that it's a relative - so anything less than straight up is going to get around to your family, and you'll feel guilty about it. So complete transparency on that front.

You could pay them melt for everything...or...

You could call around to all your local coin shops, pawn shops, and get quotes. Write these down, and give your relative at LEAST the best offer. It's not time to be taking advantage of him. I feel like with this, you've done your due diligence. He's gotten a better deal than he would anywhere in town. If there are any keys, of course you should factor that in.

By buying his coins this way, you're also assuming that they're all real, that they'll all hold their value (what if silver goes down $5/oz this weekend?), and that you'll be able to sell them for him (or yourself.) To me, that risk is why you don't pay full retail for everything.

Anything you want to keep, keep. Anything you don't, sell on here or Craigslist.

Just my two cents. Probably what I'm going to do for my grandma.

 

thanks for the replies. i plan on buying at least the two 1878 morgans and all the ASE's as they are all in orinal protector sleeve and in mint condition. i may decide to purchase everything but i figured i'd just help him sell the other stuff so he can get more value out of it since he needs it.

hopefully i'll see him in a day or two to get better pictures.