Rare coin saves Ohio home from foreclosure
Michigan
Posts: 4,942 ✭
PARMA -- A Parma couple on the verge of losing their home to foreclosure made a rare discovery that saved their house.
The couple, who did not want to be identified, brought an old silver dollar to the Cash-4-Gold store on the corner of Ridge and Pearl in Parma.
Jim Matiach, owner of the business and president of Coin and Jewelry Buyers of America, examined the 1873-CC silver dollar and gave the homeowner the good news.
"We sat down and we were able to negotiate a price and he walked away with enough money to pay off some of his bills and hopefully be able to keep his house," says Matiach.
Depending on its precise condition, the 1873-CC Seated Liberty dollar can be worth tens of thousands of dollars. Only 2,300 were minted but only 40 to 60 are believed to still exist, with the others having been melted down.
Matiach says it is not unusual to find people searching their homes for old coins, especially today. The pile of coins on his counter, recently sold for cash, confirms his observation.
"I deal with this on a daily basis at this point. The economy is very slow right now. Metal is very high," Matiach tells Channel 3 News.
He says people are scouring their houses for silver, gold, old jewelry, silverware, and even old tea sets, a fine example of which was just sold by an older couple.
"People are losing their jobs," explains Matiach, "and the easiest way to get by and pay your bills right now is to go clean out your drawers. I mean we buy everything."
"We have old silverware stored in five gallon buckets," he says. Almost everything except the coins is destined for metal dealers who melt it down.
"I guess you could say I'm in the recycling business," says Jim.
The couple, who did not want to be identified, brought an old silver dollar to the Cash-4-Gold store on the corner of Ridge and Pearl in Parma.
Jim Matiach, owner of the business and president of Coin and Jewelry Buyers of America, examined the 1873-CC silver dollar and gave the homeowner the good news.
"We sat down and we were able to negotiate a price and he walked away with enough money to pay off some of his bills and hopefully be able to keep his house," says Matiach.
Depending on its precise condition, the 1873-CC Seated Liberty dollar can be worth tens of thousands of dollars. Only 2,300 were minted but only 40 to 60 are believed to still exist, with the others having been melted down.
Matiach says it is not unusual to find people searching their homes for old coins, especially today. The pile of coins on his counter, recently sold for cash, confirms his observation.
"I deal with this on a daily basis at this point. The economy is very slow right now. Metal is very high," Matiach tells Channel 3 News.
He says people are scouring their houses for silver, gold, old jewelry, silverware, and even old tea sets, a fine example of which was just sold by an older couple.
"People are losing their jobs," explains Matiach, "and the easiest way to get by and pay your bills right now is to go clean out your drawers. I mean we buy everything."
"We have old silverware stored in five gallon buckets," he says. Almost everything except the coins is destined for metal dealers who melt it down.
"I guess you could say I'm in the recycling business," says Jim.
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Comments
Hope the homeowners got a fair deal.
If so, it sounds like they got really lucky to find a pawnshop owner who 1) knew what the coin was, and 2) was honest enough to tell them it was valuable.
Of course he probably still got a rip.
Maybe if they would have sent it to PCGS and then auctioned it off at Heritage they might have been able to pay off their house instead of the next payment.
<< <i>Maybe if they would have sent it to PCGS and then auctioned it off at Heritage they might have been able to pay off their house instead of the next payment. >>
I was thinking the same thing....but, I guess, at least it was fairer than it could have been from a place called "Cash-4-Gold." Yikes!
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>I'd be curious to see the condition of the coin and the price they got.
Maybe if they would have sent it to PCGS and then auctioned it off at Heritage they might have been able to pay off their house instead of the next payment. >>
No doubt.
This was nothing more than a buy ad disguised as a news article. All distorted to make it appear like a really good thing done for the public good. It reminds me of the 1913 Nickel ads.
<< <i>My Grandmother just returned from Cash-4-Gold and she got $5,000 for my recently deceased Grandfathers $20,000.00 hoard of Morgan Dollars. The Shop Owner was all smiles while doing the transaction - thinking to himself - " my my ... amazing what a little local press release does for a guy".
This was nothing more than a buy ad disguised as a news article. All distorted to make it appear like a really good thing done for the public good. It reminds me of the 1913 Nickel ads. >>
..........So why didn't you buy Granny's coins?
<< <i>All these retards continue to amaze me. Whoop dee doo, the pawn shop or coin shop saved them from foreclosure. What a hero he is, he probably gave them $10,000 for the coin wheen it is worth 5 or 10 times as much. They probably could have paid off their house if they weren't the one of only two or three Amerricans who have never heard of Ebay or an auction house. If they are retarded enough to sell a coin this valuable to a coin or pawn shop when the internet is so prevalent today then they deserve the pennies on the dollar they probably got. >>
Why spout off your mouth in such a way when you know absolutely how much the coin was sold for, it's condition, and it's real value!!!
Paranoia is treatable.
Overdosing on Kool Aid is also treatable.
<< <i>
<< <i>My Grandmother just returned from Cash-4-Gold and she got $5,000 for my recently deceased Grandfathers $20,000.00 hoard of Morgan Dollars. The Shop Owner was all smiles while doing the transaction - thinking to himself - " my my ... amazing what a little local press release does for a guy".
This was nothing more than a buy ad disguised as a news article. All distorted to make it appear like a really good thing done for the public good. It reminds me of the 1913 Nickel ads. >>
..........So why didn't you buy Granny's coins? >>
Because it's easier to run off at the mouth??
and then posted it on here for the forums opinion
and then sent it in to PCGS for grading
and then auctioned it correctly
well to dream
they didn't know
Lafayette Grading Set
1873-CC
Without making assumptions on this transaction, I agree with the earlier post about how STUPID it is for people not to use the intenet as a resourse when it counts.
I see it every day, and it never fails to amaze me.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>XF details, harshly cleaned.
Without making assumptions on this transaction, I agree with the earlier post about how STUPID it is for people not to use the intenet as a resourse when it counts.
I see it every day, and it never fails to amaze me.
John >>
What about people that don't have internet or know nothing about the internet.
Not everyone knows about the things we do.
It's always easy to judge that which we don't have all the facts about.
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John
John Maben
Pegasus Coin and Jewelry (Brick and Mortar)
ANA LM, PNG, APMD, FUN, Etc
800-381-2646
<< <i>"What about people that don't have internet or know nothing about the internet."
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John >>
Sorry, but I can't see where using emails would have helped or hindered this particular couple!!
<< <i>
<< <i>"What about people that don't have internet or know nothing about the internet."
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John >>
Sorry, but I can't see where using emails would have helped or hindered this particular couple!!
He did say the email comment was OT in relation to his thread, but I believe that he is referring to people's reluctance to use it because of some deep seated paranoia that their sent info will be found out. Sure emails can be traced, but I don't think its that easy to do and 99.9999% of all the stuff sent is totally boring and harmless.
<< <i>
<< <i>
<< <i>"What about people that don't have internet or know nothing about the internet."
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John >>
Sorry, but I can't see where using emails would have helped or hindered this particular couple!!
He did say the email comment was OT in relation to his thread, but I believe that he is referring to people's reluctance to use it because of some deep seated paranoia that their sent info will be found out. Sure emails can be traced, but I don't think its that easy to do and 99.9999% of all the stuff sent is totally boring and harmless. >>
Sorry, but I stillcan't see where using emails would have helped or hindered this particular couple!!
<< <i>
<< <i>
<< <i>
<< <i>"What about people that don't have internet or know nothing about the internet."
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John >>
Sorry, but I can't see where using emails would have helped or hindered this particular couple!!
He did say the email comment was OT in relation to his thread, but I believe that he is referring to people's reluctance to use it because of some deep seated paranoia that their sent info will be found out. Sure emails can be traced, but I don't think its that easy to do and 99.9999% of all the stuff sent is totally boring and harmless. >>
Sorry, but I stillcan't see where using emails would have helped or hindered this particular couple!!
No one is claiming that it would or wouldn't have helped. Thats why the poster referred to it as OT to the original post. There is no doubt that use of the internet could have helped this couple realize more for that coin than the pawnbroker gave them for it. email being a component of the internet; its just surprisiing that some are so paranoid about using it.
<< <i>Unless i'm missing something, how can you even begin to grade that coin from the image? Ughhh you'd think with all the medias fancy cameras they could get a decent pic of it
I agree with you Mark. The fuzzy-wuzzy pic could just be a white-balance issue.
Hopefully it hasn't been cleaned!
BTW- Are you planning on heading to Cash-4-Gold in Parma? I'd like to hear how that turns out 4-u!
<< <i>All these retards continue to amaze me. Whoop dee doo, the pawn shop or coin shop saved them from foreclosure. What a hero he is, he probably gave them $10,000 for the coin wheen it is worth 5 or 10 times as much. They probably could have paid off their house if they weren't the one of only two or three Amerricans who have never heard of Ebay or an auction house. If they are retarded enough to sell a coin this valuable to a coin or pawn shop when the internet is so prevalent today then they deserve the pennies on the dollar they probably got. >>
That is a rather cynical view. Sadly, it probably happens to be true, though.
<< <i>
<< <i>Unless i'm missing something, how can you even begin to grade that coin from the image? Ughhh you'd think with all the medias fancy cameras they could get a decent pic of it
I agree with you Mark. The fuzzy-wuzzy pic could just be a white-balance issue.
Hopefully it hasn't been cleaned!
BTW- Are you planning on heading to Cash-4-Gold in Parma? I'd like to hear how that turns out 4-u! >>
I was thinking about it but wanted to call down first, odds are the coins long gone already. However, i was unable to find any listings for a C-4-G location in Parma
<< <i>
<< <i>
<< <i>
<< <i>
<< <i>"What about people that don't have internet or know nothing about the internet."
That is my point. It's inexcusable in most cases.
Some obvious exceptions might be those living in extreme poverty or very elderly folks but even
there, a common sense element to seek advice from trusted sources, maybe other friends or family should kick in.
Off topic but, I scratch my head in wonder at those that still
refuse to use email, or use it only sparingly, and there are a lot of those people out there.
I think email has replaced the telephone as the #1 way to communicate, and many still reject it.
On an average day I probably send and receieve 100 emails not counting spam that gets deleted, and
I probably make and receive half that many calls.
Of course, there are times that email just doesn't work, often I see this in customer service related issues, and a phone call is the better choice, but most things can be handled
by email.
It's just plain crazy, IMO, and I often wonder how much laziness and a desire to minimize accountability plays a part in those
that avoid email.
John >>
Sorry, but I can't see where using emails would have helped or hindered this particular couple!!
He did say the email comment was OT in relation to his thread, but I believe that he is referring to people's reluctance to use it because of some deep seated paranoia that their sent info will be found out. Sure emails can be traced, but I don't think its that easy to do and 99.9999% of all the stuff sent is totally boring and harmless. >>
Sorry, but I stillcan't see where using emails would have helped or hindered this particular couple!!
No one is claiming that it would or wouldn't have helped. Thats why the poster referred to it as OT to the original post. There is no doubt that use of the internet could have helped this couple realize more for that coin than the pawnbroker gave them for it. email being a component of the internet; its just surprisiing that some are so paranoid about using it. >>
Paranoia is something you see here every day in numerous posts by people who think they know coins and still make stupid mistakes. The people that sold that coins are most likely glad to be out of financial difficulty for the moment.
I work at a place that employs over 200 people. The majority of those people know nothing at all about coins and their values. They would most likely do the same as the folks that sold that coin.
Why do people here usually think that everyone should know the same about coins as they do?? Or, even know anything that we do?
Life is merely a series of choices. We should worry about our own choices and let others worry about their choices.
<< <i>"I guess you could say I'm in the recycling business," says Jim [Matiach, owner of the business and president of Coin and Jewelry Buyers of America]. >>
"Coin and Jewelry Buyers of America" appears to be located in Cleveland. An exact Google search turns up more about them, even a commercial on youtube.
my early American coins & currency: -- http://yankeedoodlecoins.com/