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my grandpas old coins

coinandcurrency242coinandcurrency242 Posts: 1,962 ✭✭✭✭
in U.S. Coin Forum
So my grandpa recently past away and my family sent me to get the coins appraised sice I'm the coin collector in the family.... The dealer looked at them and sorted them. He did not look at dates or mint marks to see if one coin would be worth more than a regular common date... he offered me $160 for about 20 ounces of silver. I told him I will talk to me family about it. My family told me to keep them and put them away!! I see how dealers work now image...... they won't tell you if a coin is worth more than the average. All in all, it was a fun trip I bought a 1950 french note.

Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP

Comments

  • TennesseeDaveTennesseeDave Posts: 4,788 ✭✭✭✭✭
    Put a list of dates and denominations on the BST forum.Pictures would be nice and you might get some offers.
    Trade $'s
  • HTubbsHTubbs Posts: 4,138 ✭✭✭
    Heh, I think I'd run away from anyone that only offered you $8 an ounce for silver. He must have read you as a sucker...guess he should have known better. image
  • coinandcurrency242coinandcurrency242 Posts: 1,962 ✭✭✭✭


    << <i>Heh, I think I'd run away from anyone that only offered you $8 an ounce for silver. He must have read you as a sucker...guess he should have known better. image >>



    yea I am a coin collecter after all.... he has ALOT of low grade morgans he sells for $12.50 a piece..... $4.50 profit for him for each of the 16 morgans... I looked through the morgans only so far. Nothing special.... just a bunch of average circulated common dates.

    Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP

  • BECOKABECOKA Posts: 16,961 ✭✭✭


    << <i>

    << <i>Heh, I think I'd run away from anyone that only offered you $8 an ounce for silver. He must have read you as a sucker...guess he should have known better. image >>



    yea I am a coin collecter after all.... he has ALOT of low grade morgans he sells for $12.50 a piece..... $4.50 profit for him for each of the 16 morgans... I looked through the morgans only so far. Nothing special.... just a bunch of average circulated common dates. >>



    So the dealer was not too far off then? $4.50 profit is a little high but not outrageous.
  • ResRes Posts: 1,086


    << <i>

    << <i>

    << <i>Heh, I think I'd run away from anyone that only offered you $8 an ounce for silver. He must have read you as a sucker...guess he should have known better. image >>



    yea I am a coin collecter after all.... he has ALOT of low grade morgans he sells for $12.50 a piece..... $4.50 profit for him for each of the 16 morgans... I looked through the morgans only so far. Nothing special.... just a bunch of average circulated common dates. >>



    So the dealer was not too far off then? $4.50 profit is a little high but not outrageous. >>



    On top of that - I think 12.50 for junk Morgans is a good deal. Melt is $10 and Morgans usually command a premium.

    Edit to add - I'd buy all he had a 12.50
  • BochimanBochiman Posts: 25,447 ✭✭✭✭✭
    There is not an ounce of silver in a morgan, so, depending on the coins offered, it may not have been 20 ounces (unless you already did the math and added it all up, per coin, to get up to 20 ounces).
    If it were SAEs, that is a different story image

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • coinandcurrency242coinandcurrency242 Posts: 1,962 ✭✭✭✭


    << <i>There is not an ounce of silver in a morgan, so, depending on the coins offered, it may not have been 20 ounces (unless you already did the math and added it all up, per coin, to get up to 20 ounces).
    If it were SAEs, that is a different story image >>



    there were also walkers, franklins, kennedy's and silver dimes

    Positive BST as a seller: Namvet69, Lordmarcovan, Bigjpst, Soldi, mustanggt, CoinHoader, moursund, SufinxHi, al410, JWP

  • WhatafindWhatafind Posts: 432
    Forget the dealer and sell them on ebay.
    And look for the dates and things.
    Never give up the hunt!
    25 inf 1/14 Gold Dragons ,never surrender, over come and adapt
    and hold at all cost!
  • JamesMurrayJamesMurray Posts: 4,036 ✭


    << <i>So my grandpa recently past away and my family sent me to get the coins appraised sice I'm the coin collector in the family.... The dealer looked at them and sorted them. He did not look at dates or mint marks to see if one coin would be worth more than a regular common date... he offered me $160 for about 20 ounces of silver. I told him I will talk to me family about it. My family told me to keep them and put them away!! I see how dealers work now image...... they won't tell you if a coin is worth more than the average. All in all, it was a fun trip I bought a 1950 french note. >>




    Just a thought , what came to mind is i also collect Walkers,Franklins,Morgans and especially silver dimes.Im no expert as the dealer would quite possibly be , but if i were to take a random selection and "look at them and sort them" as you mentioned , i would have absolutely no difficulty whatsoever in identifying dates and mintmarks with no more than a glance.
    Unless they were in remarkable condition i wouldnt give them a 2nd look after that.
    Im not defending the dealers actions , its to be expected , he does have a business to run after all.

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