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Don’t You Hate It When You Are Asked by a Relative to Appraise....
Walkerguy21D
Posts: 11,669 ✭✭✭✭✭
Stuff like this that’s a ‘family heirloom’.....despite the notation indicating increased future value, I suspect the highest value occurred at the initial point of sale:
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Comments
I agree with your assessment.
Don't quote me on that.
I guess I have a tougher skin that most people. I don't think that leading people along is a good policy. I would politely but firmly tell the family member that this item is of little monetary value, assuming of course that the stones are paste and the chain is only gold plated.
Yes, when donkeys and pigs fly and the sun sets in the east.
Ya think. Those zirks sure do look purdy. What the heck is a regal gem? Peace Roy
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Oh my !!!
That's just the way it is. Family sentimental value for sure, though.
People and companies can really be misleading.........it's a real shame.
Pete
Everything about that piece of jewelry screams "Cheap!". I'd be amazed if it actually contained any solid gold.
If only that were a 1900 Indian Head Cent in gold!
https://mikebyers.com/14278304.html
If you like them, you are obliged to tell them the truth.
If you like them and love them, you should break the news gently.
If you dislike them, inflate the value by at least twenty times (much more if necessary).
Nothing in writing.
Yikes!
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Oh, Jeez...
mbogoman
https://pcgs.com/setregistry/collectors-showcase/classic-issues-colonials-through-1964/zambezi-collection-trade-dollars/7345Asesabi Lutho
Can't believe it.....was searching ebay an hour ago for encased cents and found this: 113413685442
Mine is a lot shinier than that one.....and just as worthless.....
Bet it wouldn’t CAC
You should send it off to CRAP, would gold bean for sure.
...yes, and I Just had this happen
Oh bother
"Inspiration exists, but it has to find you working" Pablo Picasso
Yes, I hate this.
Honesty is the best policy. On another note, I hate being asked to appraise or value anything as it creates a conflict of interest in the rare scenario that something nice or of value does come up.
I'm normally honored to be asked, however, in the case of your target item, maybe not so much
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Lordy, lordy.
When it is a relative I imagine it is worse. How do you say no?
Too bad you can't "RUN FOREST RUN" from this.
Love how 'Collectors Item' is in ""...they should have added the word ""WOW""
I don’t mind doing it. What drives the relatives nuts is that I am able to tell them on the spot what it is worth, or more often not worth. Then I will get the “are you sure, you barely looked at it?”
One has to wonder if declining is more of an insult than giving them the truth.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Yes, agree..... there was also a box full of circ non silver Kennedy halves, bicentennial quarters, dimes, nickels, and cents from the 1980s, an SBA dollar, one worn common date Peace dollar, a common worn liberty nickel, and a 1902 cent in VF with a little verdigris on it. Didn’t take long to go through.
If a relative asks me they know I am a straight shooter and accept my answer. Never ever had any animosity towards me.
On the flipside or reverse, it held value better than a pair of shoes or a dress bought around the same time.
What is the conflict? That you might want to buy it and therefore don’t want to tell them a high price? This is a relative. I sure hope that you would pay them whatever the fair value is. In fact, it seems appropriate that you would always do that, no matter the relationship. If there is doubt about the grade on a raw coin, you could always submit it first.
I would always seek to be fair to everyone, but for higher graded/priced materials the differences are subtle and I worry about unconscious bias. Is the coin more PQ for the actual grade than I think? Is the toning worth that much, etc.? How much does that one tick really affect eye appeal? Am I being too punitive in my assessment?
I hear that. For high-end toned coins I’m not sure what I would do. I can obviously tell what it would be worth to me and I could maybe guess at the value it would realize in an auction but there’s a lot of variance in the latter estimate.
cleaned/shined/whizzed Common date Indian head cent in VG? I see nothing but up for this coin.
I have had a few folks send me pics and/or ask for help reviewing their coins. I know what is coming every time, but people get really excited about these coins and it is fun to just dash those false dreams.
Wear that to Vegas and you'd maybe get a comped room!
Keep the high rollers on their toes.
I would love it. I have no relatives that even come close to this hobby. And after it's all said and done, it's easy to see why. Smart family.
``https://ebay.us/m/KxolR5
I've been asked and I always tell the truth.....gently
My personal policy is I make it clear up front that I do not buy coins from relatives, period. I will appraise and advise, but because the general public always believes old coins are very valuable, I choose to avoid the inevitable conflict that would ensue.
This served me well some years back when I appraised the large accumulation of my wife’s grandmother. The youngest daughter of the large family was the primary caregiver and wanted to use the proceeds of the collection to help with costs. She begged me to buy it after I was done, but stuck to my policy.
A year later it got back to me that some of the brothers were saying I didn’t know what I was doing because they “know what was in there and it had to be worth a lot more than I estimated”. What they probably didn’t know is that over the years grandma had apparently given away all the silver dollars, and if there ever had been any gold coins as rumored, I never saw any.
I always get questions about a series that I know nothing about...Every time.
I raced and collected old British cars for years.
Someone would say to me...
"Hey... You're into cars...My minivan is making a noise"
<blank stare>
My Saint Set
Always best to be honest. I am,an error collector and 99% of what I see is junk
The only value in the OP is sentimental.
I think its fun to help friends and relatives with coins. Sometimes they have good stuff and I am happy to help them get fair value.
I truly try to avoid such situations... had too many experiences where people had junk (bought from TV hucksters and flea markets)...I told them (diplomatically) what they had... It never went over well... One person (where I worked) would never speak to me again... he was convinced he had treasure and I burst his bubble... even with reference material... He said the references were fake... (Redbook, Grey Sheet etc.)..... Just not worth the hassle. Cheers, RickO
After having a store for almost 40 years, I've had to tell (perhaps 'explain' is more appropriate) people the truth so often it isn't funny. I've always believed in being truthful though. It often made me the bad guy at the moment, but I knew that down the line, the person cursing at me would privately regret it.
I’m constantly telling people who ask about coins DO Not Clean Them!
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/publishedset/209923
https://www.pcgs.com/setregistry/quarters/washington-quarters-major-sets/washington-quarters-date-set-circulation-strikes-1932-present/album/209923
The closest I've had to this was when my wife's mother and father had me look at a 1921 Peace Dollar that one of their friends had bought from a "coin investment house" in "investment grade" for $3,000. The coin was an AU, which had original surfaces, which was in its favor, but it was only worth about $125 at the time.
Am not sure if this true story fits the subject of this threat. However, here it goes anyway.
3 years ago I was asked if I would like to buy 2 large gun cabinets full of boxed coins and Banknotes. there were also banana boxes full in addition....you guessed it, all mint stuff ( granny bait) and most of it still boxed. there was a ton....and I did not want it. The BN were all one's and two's , in bundles from 1967= pretty well worth FV only)
However, the deceased owners widow was a close friend of a very good friend.
So I agreed to evaluate the stuff. they stashed it all on tables at their home. it seemed like it never ended as more and more was presented.
I made no promises to buy or even make an offer. I spent over 5 Hrs on that and made my list. I am not a dealer... not even close to one, so, what would I do with this junk? I was hoping that one of the albums would be some older raw coins. But not so. Sell as silver was the only solution for me IF, BIG IF they would accept my price of 5700 Dollars. (IMO that was already tops to pay for this lot as labor to sort and sell it would have been immense.)
So I presented my offer and my reasons for the offer. Then I was told that grand dad kept every mint and purchase invoice and made notes of value increases etc, etc,
in short they used the original invoices and GP's notes notes and arrived at over $42,000 purchase value. They were absolutely sure that GP would not make such a bad investment and that he had "made a good and solid investment as most of it is from the mint".
Needless to say NO sale, I kept my wallet closed.
Last year I was told they still had the lot and were now considering giving it to an auctioneer in Victoria, BC. Apparently, to make it cheaper for the seller, the auctioneer wants to sell it without any guarantee as one or two lots to reduce his selling commission.
This, IMO, is a typical but true example of how government mints selling Junk and rip off people with false and unsubstantiated, but cleverly , small print-noncommittal worded promises of future profits.
Looks vaguely like the ?slide? worn by a character in the Amazon Prime series "The Man in the High Castle." His character is called Marshall.
Just tell your relatives they are worth a lot more if you don't try to sell them
Are you related to Mr T? That thing looks like the size of a hubcap.
Latin American Collection
I always asked the heir if the deceased person was a collector or a hoarder and explain the difference to them. So for of me anyway the answer has always been a hoarder. I tell them the good news that the silver in there is worth the price of silver, in other words, melt. Then tell them that since the person was NOT a collector, that they most likely will not have any coins of numismatic value.
Well they have next Christmases White Elephant gift covered.
Bling!
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