Question about 1921-S Roll of Lincolns

This post sure isn't an example of the ANA code of ethics. You sir are in my opinion what is currently wrong with the hobby.

 

Log in or Sign up to hide this ad.

Exactly my thoughts. That is the fair and ethical thing to do imho.

 

Yup...

It's never wrong to do the right thing. Help her get top dollar for her stuff with an agreed upon percentage for you. That way you're working together.
Maybe take it to some big auction house as this sounds like a true treasure trove that will have to be marketed correctly.
-------------
Treat her right and develop trust. She probably knows they are valuable but doesn't know how to sell them without getting eaten by sharks. I've been involved in a situation involving old mining equipment, powder boxes, candle holders, etc. The widow made out much better than expected ( she was going to have us throw it all in the roll-off!) and in gratitude introduced me to several of her similarly situated friends.
-----------
My friend Ernie is an auto mechanic who says "I'm just here to make a living, not a killing". Words to live by.
Good luck to you both and congratulations.

 

I think just take a % on the profit and make the deal work for her. She will get a nice $ for the collection and you will get a fair $ for more rosie upgrades
And if you broght them to the FUN show you could get them sold fast and at a fair price...morgans, barbers and all. Not to mention I'd get to see them!!!

As for the cent question...I've had that same question for years...as I have a unc roll of early date Lincoln's too and will probably sent them to a TPGer and then sell them slowly to maximize returns. But I just cant to it yet as I love to have them for now

 

Amen. Do the right thing. Ask to keep one of the nice ones as your fee and get them all graded that will grade. Make it a win win. She will happily reward you for you honesty and skill and time in helping her discover this pot of gold :thumb:

 

PM me if you get them. I need a couple or few..... and post some pics ! We're all drooling.

 

this may help
http://www.pcgs.com/prices/PriceGuideDetail.aspx?MS=1&PR=1&SP=1&c=45&title=Lincoln+Cent

 

.....will the word 'alleged' pop up in the discussion?

 

Lol, I was waiting for a Pupa reference. JK. If he would've said a roll of 1914-Ds then I would've called BS. Anyway, 1921-S' are VERY hard to find with full details because they were struck on worn dies. The key to this is that all 1921-S cents were struck early in the year and a late recession killed the demand from banks which left almost 15,500,000 cents from earlier years in the Mints vault well into 1922 and later, so it is very possible unc. rolls could have been had and passed along through various collecting avenues. If so, fabulous find.

 

WOW! That is not right, and I think you know it! Others may be able to sleep at night with doing what you said, but most here would not.
Take a hard, long, good look at yourself in the mirror, and go through your thoughts again. Come back and tell us if you still stand buy that statement.

:thumb:

 

I actually had no intention of replying to cerdsalicious' post but alas I will. Yes, many a used car salesman and some coin dealers would try and pick the roll up way cheap. Yes, they do have overhead.

A vital point is not being brought up here though and I see it at work. I will give a true example as to why one would most definitely want to be upfront and honest in this case.

About a year ago we had a couple come into the shop I work at. The lady's uncle had passed away over thirty ago and left his collection to her and his brother. The man that left them the inheritance acually ran a bank and passed away in 1973.
You know how you see the "estate" stuff on ebay? - well this was real folks. It actually HAD been sitting in deposit boxes since his death.

The first batch they brought in was certainly NOT your typical "walk in" stuff for sale. A type set was one of the first things we saw. You know your everday stuff. Bust Dollar, Seated Liberty, Trade etc. Same went for Half Dollars, Quarters and down the line.
Now a lot of it had been cleaned but my boss actually KNEW of this collection so he KNEW there was a lot more.

Did he lowball? Absolutely NOT because we wanted to get it all and eventually we did. He paid strong, we showed them the Greysheets, we gave them books to do research on their own. I looked up many a coin on Ebay and elsewhere so we could make them offers and explain WHY we offered what we did. In short, we treated them very well.

They told the brother how well we treated them and guess who came in? Once again there were many cleaned coins but I don't often see a complete set of Mercury Dimes, TWO sets of Indian Cents and a complete set of Standing Liberty quarters walk in the door.

There was also some killer paper money in the lot including several nice Colonials.

As I said we got it all and I know over time my boss dropped at least 100K on the collection.


So Schatzy you're on the right track here. I'm assuming you already knew this lady and the fact she showed you means she trusts you. Don't do her wrong.
Help her sell it if she so chooses. It won't be easy work but you can both benefit.

An added bonus could very well be her letting you have some coins that YOU really like cheap. Of course that decision would be up to her but it would be because SHE wahted to do it as a thank you.
Honesty and integrity can go a long way.

 

:high5:
I didn't want the lady to get screwed. I will be helping her sell the coins.

 

Dang, Clembo... wish I lived in your neck of the woods... need to find someone exactly like you and your boss right now.

 

Good man, but post some pics before you do any selling though.:bigeyes:

 

Amen, as a lurker and part time poster here, honesty is the best policy, an old man here in Louisiana showed his collection and I gave my honest opinion on his silver dollars and their worth, showing him the red book and blue book. The CCs he had picked up (He just had $5000 in Silver Dollars not to mention other stuff) were unknown to him and upon telling him what he had he appreciated the information. I assisted him disposing of some of his "Hoard" and he mentioned me in his codicil many years later, his wife (widow) made sure my son got a $5 gold piece, truly a profitable deal all around.

Moral of story don't act disreputable, how would you like to be treated?

 

ROFLMAO

Paying OVER list price is now a crime! Hurry flash mob lets execute everyone in the coin hobby!
Just kidding
But thats how you guys are acting right now. PMSing on the first day of a new year.
And Please if you all are offended by offering to pay over list then you need to take a good look at yourselves.
Imagine if a dealer paid list price! OMG the world just might end.

Now on to bussiness Schatzy, I understand where your coming from but take an economical sense into this.
The economical thing would be to buy the roll and then sell it yourself by breaking it up. Same with the morgans and barbers. If theyre CC morgans pay list or over. Anything else is up to you. The potential of $25,000 over two years makes the roll a sensible buy. Now imagine if you cracked the roll and they turned out to be just good old regular VG wheat cents worth nothing more than 3-5 cents each. Well you just screwed over the lady in that case. If you bought the roll then you have two sellable coins and a bunch of good old wheaties, you took a gamble and you made a little profit. That something dealers do every day.

Then you have to consider your percentage. if your going to broker it as you are intending in this case. between 1.5% to 3.5% is acceptable. Anymore and your being a crooked broker. Paying for NGC certification would come from your end of the deal.
so assuming you get $50,000 in sales after fees you take a 3.5% comission you get $1750. Which after all your time and effort may or may not be truly worth it.

Plus if you bought that roll and struck it rich by breaking it down and certifiying it, then you could purchase the rest of the barber collection for yourself and cherrypick from the morgans and pay over list if you wanted too. That is a win- win situation for you and the really old lady.

You get cash and coins you really wanted and she sells off her collection for over list.

I dont see a problem with that. You have to remember your taking a risk on the roll eitheir way. You could get $1000 or $25000 or $150000 who knows. Or you could get a couple hundred or barely break even. It is a gamble you and the old lady are about to take on those rolls. And trust me I know rolls, the ends can be UNC doesnt mean the rest will be or that theyre same date. its an unopened roll.

Anyways your roll of the dice, I dont expect you to follow my advice but it is my 2 cents and I do this quite often.

Enough said I am bowing out of this thread respectably if you want to keep flaming go ahead but its not affecting me in any way, only makes you look worse in any light.

Peace

 

i don't see any reason to not look in the roll, the ends are just folded over, unless they are taped. Yes, the roll must be opened.

 

I'm going to assume you're that guy whom is given too much change at a store and keeps it as opposed to being an honest human being. We are not talking about the "business" aspect but the integrity of the hobby (Hobby being the operative word). Yes, within this hobby a major part is investing and profiting but in this case it comes down to being a decent person and RESPECTING THE HOBBY. Integrity, need I say more as a 26 year old who was brought into the hobby by my father and uncle who collected circulation coins because they enjoyed the hobby not the potential profiteering swindling you are promoting.

 

This is great news, it sounds like a great opportunity for both the lady and yourself. I'm sure she has every intention of treating you fairly for your troubles, just as she selected you to assist her in a fair manner.

Dang Schatzy, talk about paying it forward...just yesterday you were giving away graded coins and proof sets to some of our children like candy, and here it is less than 24hrs later, the generosity is already coming around full-circle

Good things happen to good people!

-LTB