These kind of auctions give me a headache...
JOsborne
Posts: 115 ✭✭✭
I never quite understood these "estate" items. Who wants to wade through 1000's of pieces of junk to find a gem (as if someone hasn't already done).Box of Treasure
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One of my local dealers had a guy come into the shop with his "hoard" he bought on EBay. He thought he had purchased $100K for a mere $60K, most key dates of course. Turned out most were whizzed, zero key dates. Talk about deflation. He had $10k worth in bullion.
In a group of 50,000 silver coins one must assume there will be lots of dimes. Pictures also show a fair number of halves and dollars. If we take the 'average' coin then to be a quarter, this represents about $35,000 melt.
You still have 50,000 other coins. If they are all wheats (which they aren't) isn't that at least another couple of grand? Probably more like $5000.
Then you have the currency, a bit of gold, some odds and ends, etc.
It seems to me the buyer really can't get hurt here and may actually make some decent money. Hell, instant coin shop. At the very least, it'd be fun looking through it.
Am I way off the mark here? Am I the only one who wishes he had $41K to have purchased this?
Aldous Huxley
Yabba dabba doo.
Fred Flintstone
that doesnt sound stupid. even if you just blew out all the coins grading good at say 2.00 each and then took your time and sold all the really nice coins you would make a very nice profit. if i had that kind of cash to burn i would have done it.although $41,000 would buy alot of nice slabed gold pr69 dcams.