@BillJones said:
The mint has not packaged Proof sets in envelopes since 1964. Since then they have been in plastic holders housed in various types of thin cardboard covers. What he sold you are mostly mint sets. These items are very much out of favor now, and dealers pay deep discounts (10 to 20 percent under Gray Sheet “bid”) when they buy these items.
The State Quarter Proof sets with the red covers contain 90% silver coins. The plastic holders in them have a red background. If they have a blue background, you have a problem because those are clad Proof sets, which are worth less.
I would say watch your step. The fact that he said he was going to bring silver dollars and then brought something else might be a bait and switch. The coins in your photos are very common, and don’t have much value beyond the silver they contain.
All true, except modern proof and mint sets are sooo unfavorable now that most dealers buy at 25-30 percent back of gray because dealer-to-dealer pricing is 15-20% back of Grey.
@PQueue said:
another amateur looking for his big score...
Remember when you started....
OP, Call the seller and have him bring a small sample of each variety silver dollars.
Have him email you some pictures so you can be a little more prepared.
Meet at his bank of choice (lots of cameras) you won't have to be looking over your shoulder and can concentrate on the coins.
Bring a magnet and a scale.
Good luck.
Little late on the advice...
On the proof sets you may have over paid, try and make up $100 on the next purchase.
@PQueue said:
another amateur looking for his big score...
Remember when you started....
OP, Call the seller and have him bring a small sample of each variety silver dollars.
Have him email you some pictures so you can be a little more prepared.
Meet at his bank of choice (lots of cameras) you won't have to be looking over your shoulder and can concentrate on the coins.
Bring a magnet and a scale.
Good luck.
You might want to read the rest of the thread. The "silver dollars" so far consist of very modern proof and mint sets and some Washington quarters and 40% silver and clad halves.
You might want to read the rest of the thread. The "silver dollars" so far consist of very modern proof and mint sets and some Washington quarters and 40% silver and clad halves.
Yeah Jumped the Shark.
I was pulling for OP to stumble on 100 year old grandpas coins.
Problem with the newer stuff is they made a ton and the younger collectors aren't that interested.
I'm Not a dealer, the last lot I purchased from a person that inherited from a family member consisted of a Nice mix of silver coins in Littleton flips and newer mint sets.
I made an offer buy backing up Littleton's grading by 3 grades and included the mint sets at no value.
I took that number and knocked it another -25%
I did ok and was still a few hundred over what the others were looking to pay.
The seller even asked, Are you sure that's considerably more than the offers.
I rechecked the pictures and my math an went with my offer.
Ok CoinscratchFever
I'm going to add my 2 cents. I am widely traveled and educated with a lot of life experience in my 71 years of life. The hardest and most pronounced lesson I've learned is " Stick to what you KNOW ". The easiest way to overpay and or buy something you're going to get hurt by is to try to make a killing buying something you know very little to nothing about. It NEVER turns out good. There are just WAY too many negatives in this scenario. Lack of personal knowledge about what you are buying, A pawn shop that deals with desperation all day, a stranger you' nor the Pawn shop knows, A nebulous STASH of old silver dollars, a passing conversation that turns into one person bringing cash while the other might bring a weapon. To what end ? Are you really going to sit in a strange location with a pocket full of cash and make an intelligent deal for product you can't verify from someone you don't know ?
OP, you did fine with your negotiatied price on the modern proof sets. There are safer ways to buy coins than from a stranger in a pawn shop. Your seller appears to be educated in the value in what he is selling. In your next meeting with the seller, if he brings out the raw flowing, seated, trade and morgan dollars Run Forest Run. I still can help but think the seller may be setting you up for the big score as he has lots of family members with coins to sell.
The most interesting part of all this to me is that the op doesn’t want to overpay a professional for coins (so the op doesn’t get taken advantage of ) while he is hoping he can take advantage of someone. Priceless.
And the last bit of free advice you'll get from me: bid on a complete set of Washington quarters from 1932-1964 is $450. BU bid for 1965-1998 is $150. So, make sure you give the nice man $700 for those - that's full retail. Just what a professional would charge you.
450+150 = 600 fwiw... he's overcharging lol.
$600 is roughly wholesale (dealer bid). 10-15% over is legitimate retail - hence the $700. Of course, it could be way more than that if they were all BU. Or it could be less than that if the 32-D and 32-S are fake, as they often are.
@bigjpst said:
The most interesting part of all this to me is that the op doesn’t want to overpay a professional for coins (so the op doesn’t get taken advantage of ) while he is hoping he can take advantage of someone. Priceless.
EXACTLY.
That is the part of "getting lucky" that no one wants to admit to. If you bought a bag of coins at a garage sale and there was a BU 1794 Half $ in there, you "got lucky". You also took advantage of the ignorance of the seller.
@PQueue said:
another amateur looking for his big score...
Remember when you started....
OP, Call the seller and have him bring a small sample of each variety silver dollars.
Have him email you some pictures so you can be a little more prepared.
Meet at his bank of choice (lots of cameras) you won't have to be looking over your shoulder and can concentrate on the coins.
Bring a magnet and a scale.
You may want to bring an extra pair of pants with you as it sounds like you have already been pantsed on the deal. Someone tells you that he is going to sell you silver dollars and instead he brings proof/mint sets and Wash
If buying coins inside the pawn shop isn't sketchy enough for you, there is always the random stranger hanging out at the pawn shop trying to work private deals with the pawn shop's customers. FWIW, most confidence con-men_ will_ put off "good-vibes". It's the foundation of their shtick.
@mynamespat said:
If buying coins inside the pawn shop isn't sketchy enough for you, there is always the random stranger hanging out at the pawn shop trying to work private deals with the pawn shop's customers. FWIW, most confidence con-men_ will_ put off "good-vibes". It's the foundation of their shtick.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
for $700 in silver content in Washington quarters, you need over 270 silver quarters - there are not that many quarters in that Dansco, and most are nickel/copper clad.
you should call the guy back and cancel any further loss on your part.
find the nearest coin shop and take what you got to see if they would give you anything for your group.
They're sincerely trying to help you, in their various ways of saying it. You're being conned into overpaying for common junk that most collectors are trying to unload at any price, if they were ever naive and gullible enough to buy it in the first place.
@davewesen said:
have you checked out coininflation.com?
for $700 in silver content in Washington quarters, you need over 270 silver quarters - there are not that many quarters in that Dansco, and most are nickel/copper clad.
you should call the guy back and cancel any further loss on your part.
find the nearest coin shop and take what you got to see if they would give you anything for your group.
I really like the quarters so tell me what would a good counter offer be? 450.00?
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
unlikely except for a couple varieties. There's a reason that the RETAIL PRICE on those sets are barely above face value. Not impossible, if you can find some 70s. But you probably have a better chance by buying lottery tickets with the coins.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
If you'd like to put me on retainer, I can give you more specific advice.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
If you'd like to put me on retainer, I can give you more specific advice.
Sure! Would you accept modern proof sets as payment?
You gave him already $300.00 offer him only $100.00 no more if you want a deal you only pay 40% of retail. Sounds like you might of over paid him on the 300 bucks. Watch pawn shop he only offers 50% of retail.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
lol, going over my head....
I like those gold coins
that’s what you should be buying from a pro, instead of what you bought & going to buy from a non pro, & I’m no pro so take it for what it’s worth.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
If you'd like to put me on retainer, I can give you more specific advice.
Sure! Would you accept modern proof sets as payment?
Lol. That's the spirit!
There's an old saying in the hobby: buy the book before the coin. You should know what you are looking for before you go looking for coins. You shouldn't buy coins and then go looking to see if you stumbled blindly on to something.
They say the only way to stop losing $$ if you don't know what you are doing is to stop digging. Do this go to some auction sites see what is selling look at books keep a good head and learn that is the big key in this trust me. Learn from other collectors mistakes so it cost you nothing. Now this is true in all of life watch and learn it does work trust me.
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
I'm glad your having fun with this, so what the heck is in the 2002?
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
what about the 68, 72, 79, 80, 81
If you'd like to put me on retainer, I can give you more specific advice.
Sure! Would you accept modern proof sets as payment?
Lol. That's the spirit!
There's an old saying in the hobby: buy the book before the coin. You should know what you are looking for before you go looking for coins. You shouldn't buy coins and then go looking to see if you stumbled blindly on to something.
Too late I blindly bought these over the past year. The least I could do is show you my baby set of dollars that I do have so far. The dark colored 23 seems to have mirrored fields but its hard to see with the dark color. For your first set of 2002 proof coins from the mint. Did I pay too much? average 28 to 30 per coin.
Comments
All true, except modern proof and mint sets are sooo unfavorable now that most dealers buy at 25-30 percent back of gray because dealer-to-dealer pricing is 15-20% back of Grey.
Remember when you started....
OP, Call the seller and have him bring a small sample of each variety silver dollars.
Have him email you some pictures so you can be a little more prepared.
Meet at his bank of choice (lots of cameras) you won't have to be looking over your shoulder and can concentrate on the coins.
Bring a magnet and a scale.
Good luck.
Little late on the advice...
On the proof sets you may have over paid, try and make up $100 on the next purchase.
You might want to read the rest of the thread. The "silver dollars" so far consist of very modern proof and mint sets and some Washington quarters and 40% silver and clad halves.
I liked this thread at first but not the direction it took.
I do like the posts about business ethics and learning from our own and other people's mistakes.
OP I sincerely wish you luck on this and any other coin deal you encounter.
Yeah Jumped the Shark.
I was pulling for OP to stumble on 100 year old grandpas coins.
Problem with the newer stuff is they made a ton and the younger collectors aren't that interested.
I'm Not a dealer, the last lot I purchased from a person that inherited from a family member consisted of a Nice mix of silver coins in Littleton flips and newer mint sets.
I made an offer buy backing up Littleton's grading by 3 grades and included the mint sets at no value.
I took that number and knocked it another -25%
I did ok and was still a few hundred over what the others were looking to pay.
The seller even asked, Are you sure that's considerably more than the offers.
I rechecked the pictures and my math an went with my offer.
Ok CoinscratchFever
I'm going to add my 2 cents. I am widely traveled and educated with a lot of life experience in my 71 years of life. The hardest and most pronounced lesson I've learned is " Stick to what you KNOW ". The easiest way to overpay and or buy something you're going to get hurt by is to try to make a killing buying something you know very little to nothing about. It NEVER turns out good. There are just WAY too many negatives in this scenario. Lack of personal knowledge about what you are buying, A pawn shop that deals with desperation all day, a stranger you' nor the Pawn shop knows, A nebulous STASH of old silver dollars, a passing conversation that turns into one person bringing cash while the other might bring a weapon. To what end ? Are you really going to sit in a strange location with a pocket full of cash and make an intelligent deal for product you can't verify from someone you don't know ?
There is NO upside to this story.
Bob Sr CEO Fieldtechs
OP, you did fine with your negotiatied price on the modern proof sets. There are safer ways to buy coins than from a stranger in a pawn shop. Your seller appears to be educated in the value in what he is selling. In your next meeting with the seller, if he brings out the raw flowing, seated, trade and morgan dollars Run Forest Run. I still can help but think the seller may be setting you up for the big score as he has lots of family members with coins to sell.
this is nothing compared to how much I overpaid at Long Beach
What happened to the Silver Dollars?
You bought a bunch of proof/mint sets which make nice Christmas presents to the little ones.
The most interesting part of all this to me is that the op doesn’t want to overpay a professional for coins (so the op doesn’t get taken advantage of ) while he is hoping he can take advantage of someone. Priceless.
My Ebay Store
$600 is roughly wholesale (dealer bid). 10-15% over is legitimate retail - hence the $700. Of course, it could be way more than that if they were all BU. Or it could be less than that if the 32-D and 32-S are fake, as they often are.
EXACTLY.
That is the part of "getting lucky" that no one wants to admit to. If you bought a bag of coins at a garage sale and there was a BU 1794 Half $ in there, you "got lucky". You also took advantage of the ignorance of the seller.
ttt - more drama pls
TO Op what do you plan on doing with the modern stuff are you intending to keep it or resell it.
No pictures of that quarter set the early dates as those you show have minimal value.
thank you for the best comments
You may want to bring an extra pair of pants with you as it sounds like you have already been pantsed on the deal. Someone tells you that he is going to sell you silver dollars and instead he brings proof/mint sets and Wash
Washington quarters? You should have said no thank you at that time. Good luck on the rest of your purchase.
What where the **silver dollars ** and why did you decline the purchase of them?
If buying coins inside the pawn shop isn't sketchy enough for you, there is always the random stranger hanging out at the pawn shop trying to work private deals with the pawn shop's customers. FWIW, most confidence con-men_ will_ put off "good-vibes". It's the foundation of their shtick.
Hoard the keys.
Just buying it to have and complete the first leg of this hobby, and obviously hoping to find errors or cameo in something worth grading.
I will get more pics of the early quarters this week and ask this guy to bring silver dollars if in fact he has any...
The only thing worth grading in a 2002 proof set is something that is NOT cameo. LMAO
Great point, a con man > @jmlanzaf said:
I'm glad your having fun with this, so what the heck is in the 2002?
Might just find these 900 nice ones
Remember, I'm a professional. I can't be expected to give away any free advice. Especially since you won't buy my proof and mint sets for LESS than you paid the amateur, I have to make my money somewhere.
have you checked out coininflation.com?
for $700 in silver content in Washington quarters, you need over 270 silver quarters - there are not that many quarters in that Dansco, and most are nickel/copper clad.
you should call the guy back and cancel any further loss on your part.
find the nearest coin shop and take what you got to see if they would give you anything for your group.
“No pictures of that quarter set the early dates as those you show have minimal value.”
I couldn’t have said it better
They're sincerely trying to help you, in their various ways of saying it. You're being conned into overpaying for common junk that most collectors are trying to unload at any price, if they were ever naive and gullible enough to buy it in the first place.
Liberty: Parent of Science & Industry
I really like the quarters so tell me what would a good counter offer be? 450.00?
what about the 68, 72, 79, 80, 81
lol, going over my head....
unlikely except for a couple varieties. There's a reason that the RETAIL PRICE on those sets are barely above face value. Not impossible, if you can find some 70s. But you probably have a better chance by buying lottery tickets with the coins.
If you'd like to put me on retainer, I can give you more specific advice.
I love this thread
speaking of Gail at JJT, thanks for the memories
I like those gold coins
Sure! Would you accept modern proof sets as payment?
You gave him already $300.00 offer him only $100.00 no more if you want a deal you only pay 40% of retail. Sounds like you might of over paid him on the 300 bucks. Watch pawn shop he only offers 50% of retail.
Now that what I was looking for.
that’s what you should be buying from a pro, instead of what you bought & going to buy from a non pro, & I’m no pro so take it for what it’s worth.
there is hope for you....google jjteaparty & you’ll be there.
speaking of jjt, a pro:
Lol. That's the spirit!
There's an old saying in the hobby: buy the book before the coin. You should know what you are looking for before you go looking for coins. You shouldn't buy coins and then go looking to see if you stumbled blindly on to something.
They say the only way to stop losing $$ if you don't know what you are doing is to stop digging. Do this go to some auction sites see what is selling look at books keep a good head and learn that is the big key in this trust me. Learn from other collectors mistakes so it cost you nothing. Now this is true in all of life watch and learn it does work trust me.
He will get no where it's fun but no where.
Hoard the keys.
Cool website I will mark it.
Too late
I blindly bought these over the past year. The least I could do is show you my baby set of dollars that I do have so far. The dark colored 23 seems to have mirrored fields but its hard to see with the dark color. For your first set of 2002 proof coins from the mint. Did I pay too much? average 28 to 30 per coin.
