A Silver Hoard from My Uncle?
BAJJERFAN
Posts: 31,097 ✭✭✭✭✭
I have a rich unka in Californy who sez he mite send me all this nice silver stuff. Rolls of Gem BU 1964 Kennedy halves, 1964 quarters. 
stuff like that.
stuff like that. theknowitalltroll;
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TorinoCobra71
Buy a couple of pairs of white gloves or silk glove liners. It is much easier to handle coins wearing gloves on your hands rather than socks!
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
And I like the McDonalds touch too
The two women knew nothing about coins so I went over to give them some flowers, offer my condolences, and then the Mom dragged out the bucket of socks full of these original rolls and we started going through them. There are at least a dozen rolls of GEM BU 1964-D Kennedy Halves. Half a dozen rolls of GEM BU 1964-D quarters. Then there were rolls of 40% Silver Kennedys of mixed dates, some GEM rolls, some circulated, maybe a dozen rolls of Silver dimes, some solid 1964-D BUs, the rest circulated, about a roll of Mercury dimes (no keys, dammit, all late date and common, no overdates).. on the lower left of the table I was stacking circulated Franklins by year. No BU rolls of Franklins, unfortunately. The mass of quarters just above that are all 1964 back to the 1930s. I was hoping to get lucky and find a 32d or 32s. No such luck. There were maybe two dozen or so WLHs, all heavily circulated, nothing older than 1935 or so. No keys. Maybe a dozen common, circulated Silver dollars.
I told them we need to get these into coin tubes, so one of them rushed out to a hole in the wall coin store and bought tubes, but not nearly enough as I underestimated how many we'd need.
Taking the rolls out of the white socks, breaking them open, and sorting all this stuff (and ALL of it was pre-1965 Silver) took about six hours and still you can see a bunch of taped bank rolls with more Halves in them that I didn't even get to yet because we were so bleary-eyed, it was enough for one session.
I did a rough calculation and figured about $500.00 face sitting on that table, and I explained to them with Silver hovering between $12.00 and $13.00/oz, every single coin there was worth at least 10x face or more and explained the GEMS were worth a LOT more. I stressed to them in capital letters do NOT take these to a bank and cash them in. You have somewhere between five and seven grand in raw Silver here and a bank will only give you face value for them. So hold onto them and decide how you want to handle this. I can sell them, cherry-pick the GEMS and have them slabbed, (I brought along a copy of Coin Values so I could show them what slabs are, and explain grading and prices to them..) .. and so on.
The Mom rewarded me by giving me a dozen of the GEM 1964-D quarters for helping out which I put in flips. If there's an MS67 or two in that dozen, we're talking serious money but I'm not good enough at grading to know, so I'll give them a careful scrutiny before I decide what to do with them.
I called them today and told them when they break open the remaining rolls of Halves which you can see in the middle of the table, what they should look for before they tube the remainder. I explained to them that they should handle by the edges, clean NOTHING over and over.
Quite an experience. I've never had the pleasure of going through a hoard of Silver like this before. The oldest coin I found was a 1925 SLQ worn down to maybe a Fair, date barely readable. She said "keep it." Out of those bajillion coins it was the only SLQ I found.
So all of this was either bought by the late Dad at banks back in the 60s or pulled out of circulation and then put in paper rolls, the rolls put into white socks (yes clean socks), then into a bucket, then into a safe. All of those coins have not seen the light of day for over forty years. The Mom, who is 83, had NO idea what he had stashed away, and I tried to educate them and give them a crash course in collecting, precious metals, coin history, and handling. During the course of the afternoon she went into a bedroom and came back and handed me a white tube with ten coins in it and said "what are these?" I pulled the lid off and found ten 1998 1 oz. Unc. Platinum Eagles. I said what are those? Those are about $14,000.00 worth of raw Platinum. The look on her face was priceless. There was also a roll of twenty 1 oz. AGEs, I think they were also 1998.
None of this is for sale (yet). I'll help them dispose of it if and when they decide what they want to sell and what they want to keep.
Harv
- John Wayne, "The Shootist" (1976.. his final film)..
(Just think of city streets clogged with a hundred thousand horses each generating 15 lbs of manure every day...)
<< <i>Harv & Bajjerfan are the same guy? >>
No, we're not the same guy. We're long distance friends. He hangs out here more than I do, so I sent him the picture, he made up the "uncle" story just for grins, and then after seeing the responses, I decided to give yawl the real story.
Harv
- John Wayne, "The Shootist" (1976.. his final film)..
This reminds me of finding around $1500 face in silver, while looking for gold coins at a relatives house several months ago. I wish I looked through all those coins before they got dispersed.
<< <i>Wheres the pictures of the platinum and gold eagles? A 98 1oz plat eagle in ms70 would bring in some $$$
This reminds me of finding around $1500 face in silver, while looking for gold coins at a relatives house several months ago. I wish I looked through all those coins before they got dispersed. >>
I forgot to take a picture of the Gold and Platinum. Sorry. I was just a little awestruck holding $14,000.00 worth of Platinum in a tiny tube. They are gorgeous, though. I was looking at PCGS 1 oz. Platinum eagles on eBay yesterday and in MS69 they seem to go for about $1400.00, basically spot price. I'd almost be afraid to touch the things to put them in flips and send a package that valuable by Registered mail, although I'm sure you high roller guys do it every day with your hyper expensive coins. I tried to explain slabbing to them and how if they wanted to sell the Platinum it would be much easier to do it if each coin was in a PCGS slab because there's so much counterfeit Gold and Platinum out there, but she might be reluctant to let them out of her hands for that long. These are their coins, not mine, so I can't dictate to them what to do with them, just advise. If they ask me back again this week, I'll ask her to get the tube out again so I can get a good shot of at least the top coin in the tube. But MS70? Who knows.
Harv
- John Wayne, "The Shootist" (1976.. his final film)..
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