What is a good offer

numonebuyer

I am helping a friend's mother with a Morgan collection that was given to her. She and her mother know nothing about coins or Morgans. I estimate (by looking at the stacks) that there are about 200 raw Morgans (and a few Peace). I have quickly looked through them and determined about 10% are AU the rest much lower in grade. I also verified there are no rare coins in the bunch. I would like to just buy the whole lot and spend the time honing my grading skills (there is the entire range of grades here from G to AU). How much should I offer for the whole lot ($ per coin)?

Edited to provide this data: There are 147 Morgans and 50 Peace (more than I originally thought). There are 44 1921 Morgans, but no 1921 Peace Dollars.

razorface1027

1350

Placid

Good for who?

numonebuyer

Good for my friend's mother. I want to be fair about it. To get these coins ready for selling on the open market will take some time and I really don't want to rush it.

razorface1027

Albeit there are no key dates, did you check for particular VAMs?

Placid

$12 for the au's and $7 for the others.

numonebuyer

I have not checked for VAMs. I would like to take the time to do so (also to aid in honing my grading skills). I have verified no key dates and not one CC in the lot.

numonebuyer

If after purchase I happen to find that one of the coins is worth a significant amount (say over $200), then I would inform my friend of this and for her to tell her mother. I would then get it certified and sell it and split the profits with her. I am not trying to make any money on this. I look at this as a rare opportunity for me as a collector to look at coins (that in my opinion) have not been looked at for many years.

coinlieutenant

1200$ would be fair wholesale for the coins if they are all common circ coins in Fine condition...

K6AZ

If it were me, for what you describe, I think $1600 would be fair.

UncleJoe

I agree.

$1,600. is a very fair offer for the described lot.

Joe.

CalGold

Check what the bulk silver coin buyers are paying--that is what they are worth and nothing more. Paying any more than that has no upside to compensate for the holding cost and the commodity price risk--if silver falls you will take the loss. Paying $8 per coin as some suggest makes no sense unless you have an outlet to seel them for that plus.


CG

Bochiman

I would estimate somewhere between what others have listed.
Probably $1400-$1600 depending on the non-AU ones....are they looking like they are "good" specimens or looking like they are scratched/cleaned?
Min would probably be ~$6 on the low end for the "rest" and around $15-$20 for the higher ones.....rough estimates.....I haven't seen the coins, you have, so you know if the "rest much lower in grade" are really ugly or not.

G'luck to you and her and congrats on trying to make this a win-win for all parties

UncleWiggly

Melt

numonebuyer

I think I can do a little better than melt.

I will definitely share some pictures as I go along. I got a few numbers (thanks alot by the way), and will talk with my friend next week. If she doesn't want to sell, that is cool.

On a different note, it is kind of cool to have these dollars stacked up by year on my velvet pad. Don't you all just love the sound and feel (edges only of course) of silver?