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My Junk Silver Find For Today........
Coll3ctor
Posts: 3,353 ✭✭✭
I had a guy stop by today and sell me some of his "junk silver". This is my best find in a junk silver lot to date. I think this will be very hard to top 
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Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum
Did you buy it with $3 bills? lol
Also looking for VF-EF Seated halves.
Sell me your old auction catalogs...
guide before selling junk silver for the obviously better dates.
their ignorance allowed you to profit!
Allowing you to double your money.....
"La Vostra Nonna Ha Faccia Del Fungo"
<< <i>Did you know you had an '89-CC in there when you bought it as "junk silver," or did you only discover it after you paid and he left? >>
I didn't know it was in there. Each coin was in a little clear zip-loc bag folded over with tape so it was very hard to even get a good look at the coin but he said and I just figured they were all common dates. Also included was a bunch of common date halves and dimes in this lot.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>So did you call him back and cut him a check for another $300? >>
No, if I were to do this every time I came ahead on a deal it would be fun no more.
Gary
Is that the one on the BST for 15.25...
<< <i>Did you know you had an '89-CC in there when you bought it as "junk silver," or did you only discover it after you paid and he left? >>
uh-oh, here comes the moral cop to make you feel unethical.
<< <i>So did you call him back and cut him a check for another $300? >>
uh-oh, another moral cop. coming in thick to ruin your score.
edited to add: it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real!
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
uh-oh, another moral cop. coming in thick to ruin your score. >>
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
uh-oh, another moral cop. coming in thick to ruin your score.
edited to add: it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real! >>
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real! >>
In answer to your points:
1. Ethics, you either have them or you don't.
2. I have had MANY customers bring in 3000-4000 silver dollars, and yes, I do check them for key dates. And yes, they are willing to wait if you tell them what a rare date may be worth.
3. The seller did NOT know what he had.
On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
I guess I'm just old fashioned.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
>>
I too have done this, and yes I check most of the time too
"uh-oh, here comes the moral cop to make you feel unethical."
If the buyer owns a B&M coin shop and knows the seller contact info.................
The right thing to do is cut him "some" of the profit.
I'm sorry you see it otherwise
Gary
<< <i>Hey, why'd you park your car in a graveyard? >>
They are fence posts,
<< <i>
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real! >>
In answer to your points:
1. Ethics, you either have them or you don't.
2. I have had MANY customers bring in 3000-4000 silver dollars, and yes, I do check them for key dates. And yes, they are willing to wait if you tell them what a rare date may be worth.
3. The seller did NOT know what he had.
On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
I guess I'm just old fashioned. >>
well then you should be mighty upset at most every forum member
here then... no one can match your standards.
anytime a VAMer gets a morgan from a dealer for a normal price
and it turns out it is a rare VAM. unethical!!!
anytime a person goes through a junk box and finds a perfect low
ball coin that pcgs slabs and sells for 10 times what they paid. unethical!!!
anytime a person buys a pcgs coin and gets the upgrade. unethical!!!
anytime a person buys something on ebay that is a rare variety
that they noticed via the pics and won. they did not contact the
seller to cut them in or tell them. unethical!!!
lol, i could go on and on. we are all guilty here. poo poo.
you are taking a very grey area and turning it into a black and white
situation just to rain on this forum members score and to make yourself
appear better then him.
i guess i am just old fashioned too. buyer beware... and sellers know
what in the crap you are doing. if it is junk silver it is up to you
to verify that. not the buyer. his time has value.
you made an agreement with the seller to check stuff and would call
them back if something was found. the seller in this thread did not
make that deal therefore they forfeit the one darn coin that had
a value greater then melt.
but please, do continue raining on this forum members lucky day.
<< <i>
<< <i>
<< <i>
<< <i>So did you call him back and cut him a check for another $300? >>
it gets old playing the ethics card in situations like
this. the person came over to sell junk silver enmasse. are you
really go to visually check 100s and maybe even thousands of
coins before paying the seller? are you going to make them wait
for the next hours while you go through them one by one?
of course not. the seller knew what he had, junk silver and they
agreed on a price. it is not the buyers job to inform the customer
of a single coin in a pile of 100s and 1000s has more value then
melt.
get real! >>
In answer to your points:
1. Ethics, you either have them or you don't.
2. I have had MANY customers bring in 3000-4000 silver dollars, and yes, I do check them for key dates. And yes, they are willing to wait if you tell them what a rare date may be worth.
3. The seller did NOT know what he had.
On more than one occasion, I have cut an additional check to a seller for coins that I have purchased.
I guess I'm just old fashioned. >>
well then you should be mighty upset at most every forum member
here then... no one can match your standards.
anytime a VAMer gets a morgan from a dealer for a normal price
and it turns out it is a rare VAM. unethical!!!
anytime a person goes through a junk box and finds a perfect low
ball coin that pcgs slabs and sells for 10 times what they paid. unethical!!!
anytime a person buys a pcgs coin and gets the upgrade. unethical!!!
anytime a person buys something on ebay that is a rare variety
that they noticed via the pics and won. they did not contact the
seller to cut them in or tell them. unethical!!!
lol, i could go on and on. we are all guilty here. poo poo.
you are taking a very grey area and turning it into a black and white
situation just to rain on this forum members score and to make yourself
appear better then him.
i guess i am just old fashioned too. buyer beware... and sellers know
what in the crap you are doing. if it is junk silver it is up to you
to verify that. not the buyer. his time has value.
you made an agreement with the seller to check stuff and would call
them back if something was found. the seller in this thread did not
make that deal therefore they forfeit the one darn coin that had
a value greater then melt.
but please, do continue raining on this forum members lucky day. >>
Exactly right. There comes a point at which the line between ignorant and just plain stupid has been crossed. And this is one of those instances. If anyone here found an 1889 morgan on the ground, wouldnt they check it for a CC before simply selling at a B&M for $15? I recently cherry picked a circulated proof morgan from a B&M sold as an unc. Was i supposed to kindly tell him that the coin was a proof, or was i alright in shutting my mouth, throwing down $25, and walking out of there with a smile on my face? It is the seller's loss! The saying is buyer beware, but it goes both ways! I do a lot of VAM's, and i believe that if you dont know your info, then dont go buying and selling things you arent familiar with.
Just a question for the board: "You buy a roll of 40 junk silver quarters on eBay for $130. The package arrives and inside you find 2 rolls of junk silver quarters."
What do you do?
<< <i>Just a question for the board: "You buy a roll of 40 junk silver quarters on eBay for $130. The package arrives and inside you find 2 rolls of junk silver quarters."
What do you do?
that is an obvious mistake by the seller in sending two rolls.
it had nothing to do with the deal at hand. i would contact the
seller and tell them two arrived and what should we do.
that is not a very good example. i listed some grey areas in my
post above.
a better example would be that there is a valuable coin in that roll
worth 10 times more then the roll itself. what do you do then???
in that case i would keep it. your knowledge paid off and frankly...
knowledge is power... it makes the coin world go around.
<< <i>Just a question for the board: "You buy a roll of 40 junk silver quarters on eBay for $130. The package arrives and inside you find 2 rolls of junk silver quarters."
What do you do?
For me a no brainer. Contact the seller and offer to return them or pay for them.
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>Just a question for the board: "You buy a roll of 40 junk silver quarters on eBay for $130. The package arrives and inside you find 2 rolls of junk silver quarters."
What do you do?
Thats completely different. thats a packaging error, not ignorantly putting two rolls of quarters into a box instead of one. And, you know that roll is suppose to go to someone else or it cost the seller a bit of cash to aquire.
"For me a no brainer. Contact the seller and offer to return them or pay for them. "
I know it's it's a different situation but it's still an ethics question. This exact thing happened to me last spring and I posted the info on CCF. They advised contacting the seller also and I did. The seller thought each roll had 20 quarters in it! He said send one roll back right away!
The seller and I agreed to $100 for the additional roll and that made me and him happy campers.
Guy comes in with a neat hand made wooden box about the size of a footlocker full of coins to sell. It was made and belonged to his father. The top has several old coins on top resined into place. He needs a hand cart to bring it in, as it weighs a ton. He leaves it with us and I spend hours going through it and come up with a price, and included $50 for the box because it was kind of neat. The guy comes back and accepts my offer, we shake hands and part ways. A few days later, we found a little secret compartment in the box that contained 10, 50 Peso Mexican Gold coins.
In this true scenario, was I entitled to the several thousand dollars worth of gold? Or did I have a moral obligation to contact the buyer?
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>This happened in the store about 4 or 5 years ago...
In this true scenario, was I entitled to the several thousand dollars worth of gold? Or did I have a moral obligation to contact the buyer? >>
That's a cool story! You do not have an obligation to tell him. You bought the box. So long as you didn't know about the coins ahead of time, they are yours.
However, the right thing to do was be thrilled for the guy, call him and make him a great deal on the coins.
Regardless of your decision, I hope you post the outcome!
And to the OP, congrats. Again, so long as you didn't know ahead of time: Hell of a great find, good score, fair game, well done.
--Severian the Lame
<< <i>This happened in the store about 4 or 5 years ago.
Guy comes in with a neat hand made wooden box about the size of a footlocker full of coins to sell. It was made and belonged to his father. The top has several old coins on top resined into place. He needs a hand cart to bring it in, as it weighs a ton. He leaves it with us and I spend hours going through it and come up with a price, and included $50 for the box because it was kind of neat. The guy comes back and accepts my offer, we shake hands and part ways. A few days later, we found a little secret compartment in the box that contained 10, 50 Peso Mexican Gold coins.
In this true scenario, was I entitled to the several thousand dollars worth of gold? Or did I have a moral obligation to contact the buyer? >>
that also seems black and white to me. you made a deal with the
man to go over the coins and box and make him an offer. since the
hidden coins were not part of your offer they should be notified
of the change in the amount of coins and compensated for them.
if the man walked into your store and said i want to sell this box
of coins with the box for 5000.. and you said yes... that means you
are entitled to everything inside the box.
it just all depends on the deal struck. how you follow the deal from
beginning to end can determine if you handled it ethically.
-------------
how about this? you buy a bag of junk silver for 1000. inside the bag
you later find 10! fakes that are made out of lead. do you get to
contact the seller and demand payment for the fakes?
i say no. during the sale you had the chance to view each coin quickly
but decided not to. the seller had no idea they were fake. your
mistake just cost you more then a few bucks.
---
this stuff is a two way street!
<< <i>This happened in the store about 4 or 5 years ago.
Guy comes in with a neat hand made wooden box about the size of a footlocker full of coins to sell. It was made and belonged to his father. The top has several old coins on top resined into place. He needs a hand cart to bring it in, as it weighs a ton. He leaves it with us and I spend hours going through it and come up with a price, and included $50 for the box because it was kind of neat. The guy comes back and accepts my offer, we shake hands and part ways. A few days later, we found a little secret compartment in the box that contained 10, 50 Peso Mexican Gold coins.
In this true scenario, was I entitled to the several thousand dollars worth of gold? Or did I have a moral obligation to contact the buyer? >>
Still not the same. In the OP's scenario, there were no unaccounted for coins that suddenly turned up in some wacky secret compartment. Everything was already accounted for as to the number of coins and there denominations, so your scenario is different. In YOUR scenario, you should have compensated for the coins or given them back, as YOU were charged with inventory as it was left with YOU FOR SEVERAL HOURS! This was not the case with the OP.
<< <i>that is an obvious mistake by the seller in sending two rolls.
it had nothing to do with the deal at hand. >>
The deal at hand was for "scrap/junk silver", and the seller included something which is obviously not scrap or junk. Sure looks like a mistake by the seller, but then, that's just me...
<< <i>Just a question for the board: "You buy a roll of 40 junk silver quarters on eBay for $130. The package arrives and inside you find 2 rolls of junk silver quarters."
What do you do?
I would rate the seller at 1 star for "How accurate was the item description?"
--Severian the Lame
<< <i>
<< <i>that is an obvious mistake by the seller in sending two rolls.
it had nothing to do with the deal at hand. >>
The deal at hand was for "scrap/junk silver", and the seller included something which is obviously not scrap or junk. Sure looks like a mistake by the seller, but then, that's just me... >>
but you see, the seller said what they had and had a price in mind.
it is up to them to make sure each and every coin is melt. it was not
a mistake. they counted the amount of face value and got what they
were asking for! the deal was completed ethically and fairly upon
the agreed terms.
if he said i want to sell you this junk silver with a condition that any
coin you find is rare or valuable you will split the profit with me...
i would say yes, it is unethical to not inform them.
you have to understand that the buyers time to look through every
coin is not free. he is not doing it out of the kindness of his heart.
he could easily say that it took me 4 hours to check every coin.
his time is worth 75 bucks an hour. therefore if you want the coin
you owe me 300 bucks for spending half a shift checking them all.
all depends on the deal struck and the terms agreed upon.
obviously a dealer who will check every coin and inform you of a rare
one will generate more business that way. that is a choice they make
to bring good will and get their name out there. also for all we know
the dealer could be offering a lower price per dollar of face to cover
this time and communication.... thus making money in a different
way!
all i know, is that if i goto a flea market i do not go around telling
every seller that the knick knacks they are selling are rare and
desirable and should mark up the price 1000% before i buy it...
lol. you guys want to take this to an extreme.
<< <i>And post a picture of the box, if you have one! >>
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.