Question on aquiring a coin collection

culbert

I have a chance to aquire an elderly businessman's coin collection. He has everything from rolls to complete sets of coins as well as raw coins. He has been a close friend of my family's for a long time. One of my problems with his set collection is that they have been in the cardboard holders so long that the back of the coins has some black crud on it. Is this fixable or should I be worried. He has the collection valued at 6-8 thousand and is offering it to me for $2,500. I do trust him and he would do me no wrong. The sets bother me a little though.

Thank you

MORGANHUNTER2

buying 6-8 grand for 2500????
Either I am missing something here or this is a fabricated story- in any event- look at what he has- if you have the ability to grade the coins you might be able to deduce the value - but to get that much for 2500- he(( I'll buy it NOW. give me his name and #, I'll take it off his hands.

kranky

For your own protection, determine for yourself what the coins are worth. You might find he is indeed offering you a good deal, or that he has inadvertently far inflated the value.

If the "crud" is a real problem, it's obviously going to have a serious impact on value.

Cratylus

I've not used it, but I've HEARD that KoinSolv will remove that crud without hurting the coin. Might want to see what some of the board members who have USED it will say about it.

LeeG

This may be a once in a lifetime deal? Take some time to look through the coins. Get a Redbook, PCGS or Photograde Grading Book, and take a look see. Request to try and "conserve" one of coins with the "Black Crud" on them. Do a search of the boards for Cleaning, Conserve, Dip, etc. and give it a shot. Post some pic's of random coins in the collection for us to take a look at. Hope it works out for you! But be careful!

coinguy1

Culbert, out of fairness to both parties, I'd suggest that you make an agreement with the owner to sell the collection for him and receive either a set/fixed fee or % of the proceeds.

7summits

I had the crud one time - took me months to get rid of it

As far as coins with crud - not with a 10 foot pole

coinguy1

If you do end up selling the collection for the owner, I'd also recommend that BEFORE doing so, you let him know the amount he will receive. You don't want to chance his finding out after the fact, that it was worth far less than he thought it was.

Over the years I have seen far too many examples of owners learning that their collections were worth much less than they had thought. And, they often take it out on the messenger, rather than on those from whom they had acquired the coins.

CoinResource

Sometimes people THINK they are giving you a good deal and just don't know. The crud is a serious problem that needs to be addressed.

JRocco

It also depends on how crudy the crud is. Some crud is really not that crudy
If you can post a pic of one of the crudy coins reverses maybe we can better answer your question

Russ

<< <i>For your own protection, determine for yourself what the coins are worth. >>



That bears repeating. If you use a Littleton catalog to value a collection, you can come up with one number, use Greysheet and get another. The two will be slightly different. Who knows where he has gotten his valuation.

Russ, NCNE