Hey All, This coming weekend I am meeting with a gentleman I met at his garage sale who told me he has the coin collection of his late father-in-law. He showed me a glimpse of the coins and he has circulated wrapped rolls of pennies from 1910 to 1990 and mint sets dating back to 1958. Because these pennies are circulated how much should I offer him for a roll of the 1910 Thru any roll of the memorial date pennies? And of course how can I price these mint sets as well. I searched e-bay for the mint sets and non-silver sets go for as little as 10.00 but the mint sets that contain silver range from 15.00 to 30.00. I do not want to offend him by pricing low but at the same time I do not want to over-pay. Just to add by his own admission he has no idea how much any of these coins are worth. Thank you all in advance for your help. ST
I love mint sets, especially anything older than 1978. Of course as you creep back towards the 50's the price goes up as well. You can pick up 70's sets for under $10 ea, 68 & 69 under $10, SMS sets (65-67) under $15, and pre 64 silver $25 to $??? depending on the year. The rolls are more of a crapshoot and depends on what you're comfortable with to crack them open. Of course if the rolls are by year, certain ones will be more desireable and the cost will likely reflect that. Are you looking just to cherrypick certain sets and rolls or get the whole lot? That will likely have a bearing on the prices too. Good luck to you.
Why are you interested in buying this collection? Are you going to try to flip it? Are you going to keep all of it? Are you going to do a little bit of both? Depending on the answer you really should take different approaches. If you are going to keep it all, then pay close to the prices on ebay as that really is what it would cost you to buy it all. Maybe offer him 10% less so you get a deal. If you are buying this to flip it then I would tell him that. Something like, 'I am interested in purchasing the whole collection but I will be reselling most of it. Because I need to make I profit I am going to factor that into the price. I believe your collection, sold on ebay is worth around X,XXX. If you want to take the time to list, ship, and deal with returns then by all means you can do it yourself, but I can offer you half of X,XXX.' Just be straightforward with him, people understand that dealers have to make money, and they make it when they buy coins not when they sell.
The whole collection sounds like something that will be hard to sell. I wouldn't offer over bid on it. The offer will sound pretty low to him so warn him in advance. Of course if you need these coins or you're sure they haven't been picked over for Gems and varieties then over bid by 20% might be OK for you. Keep in mind that circ cent rolls bring good money wholesale but buyers are exceedingly picky. Be sure to spot check the mint sets for tarnish or water damage.
The worst person to buy from is somebody who has no idea what his stuff is worth. They'll always ask for more and expect it, even rejecting a good offer they'd never see again, thinking they are entitled to more. I'd find the lowest priced comparable item on eBay and show him that price, just to deflate his expectations. Then tell him your doing him a favor offering what you are.
