What would you do? Advice on coin purchase

Moonbiter

Ok, I'm beside myself on this one, and I'm looking for what others would do. My local B&M has a raw 1916-D Mercury dime for sale (it's the only coin my daughter is missing). He wants $650 and says it's in AG condition. My initial look says that it is graded right and appears to be original skinned. The coin has no defects except for the wear, and is a pretty nice example. My local B&M is a stand up guy and if it came back from PCGS as being counterfeit or cleaned, I know he will take it back (past experience).

Now my question. I have 36 1 oz silver Libertads that I'm thinking about selling to get this coin. If I sold them now, I'd be either breaking even or losing just a bit on them but I would be gaining a key date coin. I am also going to try and talk him down to $575 or $600 for it also. I looked on Heritage and AG3 PCGS coins have been going for about $690 lately.

Would you sell the Libertads to get a problem free key date coin in a extremely low grade, or would you pass and hold on to the Libertads hoping for silver to go up some more and make some money on them?

19Lyds

If you don't buy it, somebody else will so yes, I'd sell the silver after I made an agreement with the dealer. In the time it takes you to sell, someone else may be thinking the very same thing so by all means, let the dealer know what you plan on doing so he does not sell it out from under you.

Longacre

Personally, I would keep the silver, save up more funds, and find the right coin that fits within your daughter's set (the same look, grade level, etc.). I think someone here said that when a full set is offered for sale, the buyer/dealer basically just looks at the keys and discounts the rest of the coins. I think a key in a better condition will pay rewards over time.

RYK

Couple comments:

1. If you want a PCGS-graded merc dime, buy one. They are always readily available in the heavily-circulated grades.

2. Never assume that the coin you buy will slab, let alone slab at the expected grade.

3. I do not trust myself to distinguish a genuine 16-D from a counterfeit. Be sure that you can, irrespective of how the dealer has treated you in the past.

4. Whether you have a profit or loss in the silver 1 oz'ers has nothing to do with the decision. You have to decide which is more valuable to you at this time.

5. No one can be confident if and when silver will rise in value, so why make this part of the decision?

6. If you are not sure what to do, don't do anything. As I said in #1, the AG-3 16-D merc dime is readily available. There is no pressure to make a decision. Maybe you should wait until you can buy one without selling the silver.

lasvegasteddy

there are soooo many ag 16-d dimes that you'll find better if you wait

i'm not sure i'd buy one in ag especially for my kids....let your silver spike up...save a lil to toss in too and buy a gd or vg example

i'd bet right now you could post a "wtb" post on the bst board and find something a lil better for your girl there

Moonbiter

You guys might be right. I didn't know how readily available AG3 16-D's are.

Millertime

I would agree with a few people here. Buy slabbed and find something better than a 16-D. It will cost more but in the long run you'll be much happier.

Millertime

lasvegasteddy

you're out nothing with a "wtb" post on the bst board and they bountifull

you may find a pm come in that rocks your day

BobGreene

<< <i>You guys might be right. I didn't know how readily available AG3 16-D's are. >>



You can probably find one at just about any coin show you go to, and almost always on eBay. Wait for a slabbed G-4.

DennisH

An honest and problem-free 16-D in AG03 for $650 is a very fair buy; you can easily spend more.


The Libertads are just bullion. The '16-D is the key to the set.
Yes, they are readily available. But they never seem to go down in price.
Daughters are meant to be cherished and spoiled.

I say go for it and don't look back.

doh

Always buy the keys.

MarkInDavis

Whether you make or lose money selling the silver should have no bearing on whether you decide to sell it or not. What you paid for it has no bearing on what it's worth now. Decide it this way - if you had $650 in your pocket, which would you buy the silver or the 16-d. Proceed accordingly.

seemyauction

I'm willing to bet that the Key Date coin will appreciate in value faster than the silver bullion............

GrumpyEd

Would it be wrong to tell a dealer you want the coin but want it graded first, offer a deposit and agree that you pay the rest and take it when it's graded in any grade (as long as it's no problem)?

(in your case that gives you time to think about the silver or sell it)

Most dealers or their friends are getting coins graded often so they should be able to add it in easily. That also avoids the question of will the dealer refund if it's got a problem and any issue with the dealer believing it's the same coin if you return it in a BB.

Elcontador

Couple comments:

1. If you want a PCGS-graded merc dime, buy one. They are always readily available in the heavily-circulated grades.

2. Never assume that the coin you buy will slab, let alone slab at the expected grade.

3. I do not trust myself to distinguish a genuine 16-D from a counterfeit. Be sure that you can, irrespective of how the dealer has treated you in the past.

4. Whether you have a profit or loss in the silver 1 oz'ers has nothing to do with the decision. You have to decide which is more valuable to you at this time.

5. No one can be confident if and when silver will rise in value, so why make this part of the decision?

6. If you are not sure what to do, don't do anything. As I said in #1, the AG-3 16-D merc dime is readily available. There is no pressure to make a decision. Maybe you should wait until you can buy one without selling the silver.

What RYK said.

Might add that there are probably as many fake 16 Ds out there as originals. Consider the PC or NGC slab on this coin as an insurance policy. Personally, unless someone just found it in the ground, or it's an E.A.C. coin, if it's worth north of $500 and not in a top tier slab, I wouldn't mess with it.

LindeDad

Trade the silver for the coiin?
With a signed return policy if it does not grade.
Just throwing another thought at you.

TennesseeDave

There have been a couple sell on E-bay lately for around $500 in Anacs AG-3 holders such as this one.

TomB

<< <i>Couple comments:

1. If you want a PCGS-graded merc dime, buy one. They are always readily available in the heavily-circulated grades.

2. Never assume that the coin you buy will slab, let alone slab at the expected grade.

3. I do not trust myself to distinguish a genuine 16-D from a counterfeit. Be sure that you can, irrespective of how the dealer has treated you in the past.

4. Whether you have a profit or loss in the silver 1 oz'ers has nothing to do with the decision. You have to decide which is more valuable to you at this time.

5. No one can be confident if and when silver will rise in value, so why make this part of the decision?

6. If you are not sure what to do, don't do anything. As I said in #1, the AG-3 16-D merc dime is readily available. There is no pressure to make a decision. Maybe you should wait until you can buy one without selling the silver. >>


Listen to RYK.

Fairlaneman

AG3 16D mercury dimes were about a 250 to 300 dollar coin 3 years ago or so. Just remember sometime in the future they will be a 250 to 300 dollar coin again.

Ken

micmt

I looked last night on ebay and there were TONS of these in low grades. Not many in high grades at all.

You could always see if the shop owner will "trade" across the board if you want a raw coin.

doh

<< <i>Just remember sometime in the future they will be a 250 to 300 dollar coin >>


...really? Based on what?

BlackBeard

<< <i>Never assume that the coin you buy will slab, let alone slab at the expected grade. >>



Very solid advice.