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A question for GSAGUY and others concerning unopened packages
dtkk49a
Posts: 2,484 ✭✭✭
I saw GSAGUY's pic of his unopened GSA stash and I have some questions. Will they re-sell for a premium unopened ? How much of a premium? As a coin collector, wouldn't you want to see the coins in your collection before you resell them? What if there is a spectacular toner in one of those boxes? What if there is a off center CC dollar in one of those boxes ?? I suspect you purchased all those boxes directly from the mint? Otherwise, how do you know if there are really CC dollars in them?
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They call me "Pack the Ripper"
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bidding on the "what if" is inside. Usually about a 50% premium unless you get two or three that
just have to have it and then it's to the moon, baby, to the moon!
lol
bob
<< <i>I saw GSAGUY's pic of his unopened GSA stash and I have some questions. Will they re-sell for a premium unopened ? How much of a premium? As a coin collector, wouldn't you want to see the coins in your collection before you resell them? What if there is a spectacular toner in one of those boxes? What if there is a off center CC dollar in one of those boxes ?? I suspect you purchased all those boxes directly from the mint? Otherwise, how do you know if there are really CC dollars in them? >>
Yes, they do sell for a premium. Have I ever been tempted to open them? Yes, I have. But I'm not a big gambler and know that the odds are usually stacked against you. Let's face it, most of the GSA CC dollars were baggy and my advice to most buyers of this memorabilia is to leave them unopened. Having said that, once you own it, it's yours to do with as you please.
I did not purchase any of these from the mint or directly from the GSA sale. I bought some with private GSA collections that I had a chance to see, and others that came to me via contacts with dealers.
I've never worried about the contents. The packages are typically sealed with a GSA-registered U.S. postal mailing label that covers the seals and would be very difficult to tamper with. I think they're neat GSA items and am also confident that they're more and more scarce with each passing day. Let's face it, every time one of these items changes hands, the odds increase that another has been opened and the population of the unopened boxes remaining is reduced.
A few years ago, snooping around on ebay, I found an already-ended auction for an unopened box of 5 from the "mixed CC" category. This would have been from the 1980 sale and could be coins of different dates that were deemed too baggy or exhibited "tarnish". I knew that since most of these coins had been sold in the early rounds, this was a really rare item. I set about trying to track down the new owner (back then there was a lot of buyer info available on ebay) and was successuful contacting the guy. He was in Vicksburg, Miss and was actually co-owner of the item. Unfortunately, they'd already opened it and the coins inside.
He told me that 4 out of 5 the coins were nothing special, just common dates and baggy, but that one, an 1885-CC, had beautiful obverse toning. Within a few weeks I hooked up with him and his buddy at a small show in Mississippi and saw the 85-CC. It was a beautiful coin, really clean, and 100% obverse toned in pretty blues. I still own it.
<< <i>I am not a holder when I purchase stuff like this so I have much respect for those that can avoid the temptation and not open them. I agree with Bryan....most of the time it's a losing proposition when opening these or even original unopened double mint sets.....but sometimes you just have to take the leap
I usually recommend an alternative for those who like to gamble, like driving down the road and tossing dollars bill out the car window.
The name is LEE!
One buyer sent it back, opened, and said he received it that way. He demanded his money back from Paypal, which of course took his side.
TD
<< <i>So what you folks are saying is that there is an better than even chance that the coin within the package is a dog and it has more value as an "unopened" package than it does as a coin? >>
Those are the odds, though I do have another story..........I think I might have already posted it here.
Years ago I received a few of the unopened boxes of 5 in the mail at my office. I was leaving for a business trip and, for some reason, didn't want to leave them in my office. I put the boxes in a hall closet at the office that had not been opened or cleaned for years. Well, you guessed it. While I was out, an employee cleaned out the closet. He found the unopened boxes of 5 and opened one. Once inside, he still didn't know what it was so he opened one of the inside boxes and found a Morgan Dollar.
He showed it to my secretary and she immediately knew it was mine and put the coins and boxes in my office.
Turned out the single piece was a bright white common date easily grading MS66. True story. I never opened any of the others.
<< <i>So what you folks are saying is that there is an better than even chance that the coin within the package is a dog and it has more value as an "unopened" package than it does as a coin? >>
More like a cat, or Schrödinger's coin.
<< <i>
<< <i>I am not a holder when I purchase stuff like this so I have much respect for those that can avoid the temptation and not open them. I agree with Bryan....most of the time it's a losing proposition when opening these or even original unopened double mint sets.....but sometimes you just have to take the leap
I usually recommend an alternative for those who like to gamble, like driving down the road and tossing dollars bill out the car window.
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