? on silver Eagles

I'm not saying it's unethical, but I'd rather make a client very happy and still maintain a very nice profit margin instead of having the seller eventually realize his mistake and spread unkind words about me to others. I guess I'm thinking of my future business, not just the here and now.

 

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Again, I have to say, it depends who the seller is.

 

Doverboy, I understand what you are saying. But we don't know enough of the story to know what the relationship of these two people are. Of course, you want to take care of your customers and be honest with them. That is good business. I am in sales. If I weren't honest and ethical with my customers they wouldn't do business with me. For instance today, I tried to talk down one of my customers from a big time sale. I didn't think he needed what I had, but the customer insisted that he did. He was very grateful that I brought certain things to his attention. I sell surgical equipment. I not only have to worry about my customer (the doctor), but I also have to worry about the patient going home with my stuff. That is good ethical, honest behavior. But from what we know... until told otherwise, this guy offered jackoranger 16 of these coins for $15 each. It could be a co worker, a guy off the street, someone in a coin store.... we don't know. Now ask me if I think that is a fair price. Yep, I sure do. I also think $20 is fair, $30 is fair, $40 is fair. Fair for who!!! Him or me???? Think about it.....

Take care of your customers by all means.... this is good business..... but if I throw up a 1995 proof ASE on Coin Talk and ask for $15, I don't think I would get one email asking me what the heck I was doing? Why? Because everyone would assume that I already know what I am doing and know the facts. But neither one of these guys knew the facts, obviously, because if jackoranger did, he wouldn't have asked question in the first place.

Now lets say the sale already took place and jackoranger didn't know what he bought. He then got on here and started asking questions. We would all be like Dude, you hit the jackpot. Some of us may even tell Jack to go back and return the coins because he got a good deal or pay this guy extra money. That is crazy. Good for Jack. What would we be saying if he paid $100 each for 16 1986 proof ASE with a value of $25? We would be saying you moron why didn't you do the research first. Would we tell him to go back to the seller and demand that he give him back his money???

Can't have it both ways gang. Is there deceitful, unethical, dishonest business out there? Yes, but I didn't see any of that here.

 

no ethical issue here.. if the seller asked "what is the fair market value of these coins" and you said $15, then there's an issue. As the seller, you need to do your own research as to the fair value of the item, same with buyer. Deal is a deal.

If you were roll hunting at the bank and found a 1943 copper, would you really take it back to the bank claiming it's worth hundreds of thousands of dollars, and you paid only $.01 for it. Then insist you pay full market value for the coin? Same thing with any other coin worth more than face value.

 

Thank you for making that point. I agree 100%. I just didn't articulate as simple as you did. Thanks.

 

Ok heres the scoop, they belonged to his Father ( my Uncle ) and he basically wanted to give them to me and I told him I wanted to pay something. He said give me silver cost, I told him they were probably worth more due to what I see on e-bay. He said " I am happy with 15.00 ea and I am not going on e-bay to sell them"

They do have the paper inside the cardboard box from the mint, with the weight etc. They really are beautiful coins !

He also has about 6 more that are in plastic case set in a pc of black cardbaord with the info in gold print on the cardboard. And about 4 more in clear plastic envelopes. All of them are perfect but the ones in the cardboard box with the velvet box inside are in a hard plastic flat tube, these are the ones with the paper inside and they are the ones that look like what ison e-bay as a "cameo"

His Dad had a bunch of mint proof sets and tons of wheat pennies ! I am not sure why he was buying these up but he died the year after he bought all the Eagles, I never even knew he bought them. I knew he had the collection of proofs and wheaties.

I will check for the W on the back, what does that mean ??

 

Jack, sounds like you have a cousin who is being very, very generous. As pointed out, these coins that are being offered to you are worth a lot more than $15. Back in 1995, the US Mint made three ASEs that year. Two were proofs and one was bullion aka "uncirculated". The "standard" proof which just over 400,000 were minted should have a "P" on the reverse. These were minted in Philly. Also to commemorate the 10 year anniversary of the American Eagle program the mint made another proof coin. Those coins were stamped with an "W" for West Point and were produced only in a 5 coin set with 4 American Eagle Gold coins. There were about 30,000 of these made which makes these worth a lot. I suspect based on your package description that you have the regular proof coins. Please post pics as the group likes to see nice coins. Congrats and good luck. Hope you stick around Coin Talk because there are some great people on here and some better information to be found.

 

Ok sorry recount, thre are 20 in the velvet boxes and they are different years, I just assumed they were all the same, they range from 1986 to 1995 and there are a few of each year.

I should have known because some of the cardboard boxes are purple and some are black. Some have a "p" on the back and some an "s". I am not sure how you would ever get them out of that plastic flat tube anyway. It looks like you would have to break it open if you wanted them out ?? Maybe it unsrews or something.

There are 5 in the clear hard plastic case that you can open with the gold writing on black cardboard, they dont have any s or p on the back ??? They do have a small number or something under the Eagles left wing, I cant make it out too small but they all seem to have this.

Then there are 10 in small plastic envolpoes just like a sleeve the size of the coin.

Then there is one loose that looks like its been handled and is not as pristeen looking.

I assume they all should be worth more than 15.00 correct ??

I also got 3 morgan silver dollars in small coin size envolpes that say UNC and these look real nice shape. Those he told me 12.00 ea.

I just want to stick them in a safe deposit box and hang on them instead of selling them right away. He sold off a bunch of proof sets soem were silver and the pennies and some paper money too.

 

Jacervone - I have no issue with you. I respect much of what you write in many of your posts.

Jackoranger - CoinTalk is obviously a great place to learn about coins. I have learned a great deal on the forums and members are often generous with their knowledge.

Coins are valued based on condition and rarity, primarily. As you've already learned, even ASEs vary wildly in price based upon which one it is. The same holds true with Morgans and wheat cents, even more so.

If your cousin is willing to sell you the ASEs at spot, do it immediately. The least any of them is worth is the bullion value and some of them considerably more. You have already informed him they could be worth more than he's asking, but he'd rather just give them to you. $15 each makes everyone happy AND informed.

Do not take the coins out of the plastic cointainers, the containers pop out of the velvet boxes with a little encouragement. But the inserts in the boxes provides the details for the individual coins as well, so you could provide us with that information. Many ASEs will sell for only a small premium over spot, a few dollars or so.

If your cousin wants some help with the other coins, we would need details and photos. It's really the only way we can help you. Be careful when handling the coins, only hold them touching the rim; do not touch the obverse (face) or reverse (back) of the coin.

Take this opportunity to begin learning about coins. They are a wonderful hobby and can be quite lucrative, especially from an inheritence. Take your time, know what you're selling and maximize your returns.

All the best.

 

I got them this morning. I got all the SE's and the Morgans, there ended up being 4 Morgans in the plastic sleeve. I did pop out the SE's there is a little velvet tie that you pull and they pop out.

Looks like I have a nice start on some silver, man these things are real beauties !

Thanks for the help

 

Jack,

Keep the Morgans in the plastic sleeves for the time being and DON'T let your kids touch them.

If the Morgans are labeled UNC then there's a good chance they're Mint-State quality coins. Depending on the year and the MM (mint mark) they could be very valuable. What years an MMs are the Morgans?

I'm happy to give you additional info on them. And do please eventually try to post some photos of your new collection.

Congratulations on your acquisition. Now you've been bitten by the Coin Bug!

 

Yes those are beautifull coins. Congrats. So how many of them ARE 1995's?

And by the way, you cleared up the whole ethical issue. If you had a cousin who ASKED you what these were worth and you quickly snatched them up for a steal, that would be one thing. But it doesn't sound like that is the situation.
We'd love to see some Silver Eagle and Morgan pics.

 

Pics to follow, not sure how many are 95's Id say about 6 or 7.

The morgans in the plastic are 4 1921 UNC I dont see a mint mark ???

also 1879 and 1881 again no mm. Also 1902 and the 1922 Peace

 

You are correct, bad parenting is probably part of the reason for situations like this one. I'm not sure I can reconcile the statements that you are "sick and tired" of ethics and morals, but at the same time view yourself as an honest and ethical person.

But that's just me.

 

Exactly correct. When someone presents themselves as a professional or a dealer, they are fair game. Non-collectors deserve a different treatment. This should be obvious. It's scary that it isn't.

 

Tsk, Tsk Cloudsweeper...... now you are changing my words and what I said. Please re-read what I wrote.

 

Here are the pics, they came out crapy, sorry

http://i147.photobucket.com/albums/r318/cvcman/100_0305-1.jpg

http://i147.photobucket.com/albums/r318/cvcman/100_0303.jpg

http://i147.photobucket.com/albums/r318/cvcman/100_0262.jpg

http://i147.photobucket.com/albums/r318/cvcman/100_0302.jpg

 

I didnt have all th SE's in the pic but there are 20. Now I need to learn how to take a GOOD pic. This is a good camera too 8.5 mp but I cant get a good clear pic:computer:

 

It keeps coming out the same way. You would take the money and run.

 

Guys, let's just focus on helping the OP, ok?

Jack - The links indicate moved or deleted photos. Can you try again? Thanks.