260 Peace Dollars for 7K....is this a deal?
RLSnapper
Posts: 574 ✭✭✭✭✭
So I saw this on my local Facebook Marketplace. Local inheritance story. This is the picture provided. I am not a dealer but this seems like a deal at roughly $27 a coin. Would you play let's make a deal?
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Not without seeing them all and I'd really need to see the coins in the roll marked 1921. If they (the 1921s) are all Peace Dollars and in good shape, probably worth it, but if they are 21 Morgans, not so much and also would want to weigh a sampling of them to make sure they didn't come from China. Pass a strong magnet over the grouping too, if they jump to the magnet they are probably from China and worth about $2 each.
I wonder why all coins have the same color, no dirt etc. (cleaned?)
If that top roll on the left is a roll of 1921's then it's a bargain. They do appear typical collector or hoarder wrapped in brown wrapping paper (not paper roll paper).
Pretty big premium when each has $18.50 in silver value today.
I'd pass otherwise.
bob
vegas, baby!
It would pique my interest for sure, but there's plenty of room for real danger here. I'd want to inspect them (or at least a couple random rolls), weigh several of them, and at speak with the person offering them on the phone (or in person). It's amazing how an actual voice conversation can be reassuring or cause your spidey-senses to tingle. One little hint of fishy business and I'd be out of there.
Too risky for my liking.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
My Full Walker Registry Set (1916-1947):
https://www.ngccoin.com/registry/competitive-sets/16292/
Sounds like a great way to show up and get robbed.
You can buy bags of Peace dollars at $22 or $23 each. 1921 Morgans are available in quantity at about $32. $7000 is not a "deal", but it's reasonable.
I'm quite sure the 1921 roll is Morgans as you will note that all the rolls are common dates.
Maybe the shown coins are legit to whet your interest. And the ones in the wrapped rolls are the knockoffs. But the seller has to know a would be buyer would want to open those other rolls first to inspect the goods before buying.
The odds favor it being a good deal for the seller, rather than for a buyer.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
See if you can cherry pick through them. Maybe you can get some uncirculated coins or better dates out of there.
Doesn't hurt to ask.
Student of numismatics and collector of Morgan dollars
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Danger Will Robinson! A magnet swipe is not enough. Weight, size and specific gravity testing is necessary. A friend just got burned on 220 Peace and Morgans, every one was bogus. See pics of the fake Cc's. Peace Roy
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Why would any (non-clueless) seller do that?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Agree reasonable if real & most AU type. Did the seller want cash, if yes, need to meet in the parking lot of the local police department or inside a library. I'd open all to check and bring tape to re-wrap. Can't go wrong looking and leave cash in car until checking out the seller and surroundings.
I agree with this, it’s worth checking out. If the 21s are peace, the condition is AU and better it’s a deal esp if there are later dates in there. That said there might be room in the 7000k that cash in hand brings out and if you do it safely there is no down side to testing the waters. It all cirs and commons there isn’t much profit in their or you if you aren’t planing on holding
11.5$ Southern Dollars, The little “Big Easy” set
Interesting marketing strategy, but ask them to open up the roll of 21's and send you a picture.
It's not going to change the value.
Might be worth a look after seeing a picture.
I'd say 20x face is a number to shoot for as an inheritance gift.
Oh and ask what else they got for coins, doesn't cost anything to ask.
$7k would invest in quality slabbed material. Not bulk raw sight unseen stuff.
Not worth the risk.
Meh
Anytime they all look alike should be a run Forest run moment. Magnet passes but did the scale? Not likely that he weighed them. Silver over copper/brass will weigh a lot less than they should.
bob
vegas, baby!
I do not see any red flags as long as you like the price. Recognizing counterfeit morgans and peace dollars is simple. As long as you know your stuff, go ahead!
"But seek ye first the kingdom of God and His righteousness and all these things shall be added unto you" Matthew 6:33. Young fellow suffering from Bust Half fever.
BHNC #AN-10
JRCS #1606
That's a lot of money for a potential con; likely any seller knows what the price of tea in China is.
Be very careful!