So I watched a recent episode of "Storage Wars" that involved coin collection.............
SanctionII
Posts: 12,499 ✭✭✭✭✭
............... and thought I would give a summary of the show.
Have you ever watched this show? It is relatively new and is on a cable channel.
The show is centered around Southern California storage unit auctions. The main characters are two guys who work together bidding at storage unit auctions. Other characters are the auctioneer and two or three other guys who are competing bidders. [There is another similar So. Cal. based show that has a slightly different format with four our five separate groups of bidders, all of whom share top billing on the show].
So the episode I watched that had a coin collection involved the two guys who are the main characters winning an auction. They pay the winning bid and a little bit later are shown searching the contents of the storage unit looking for good stuff. They find a big plastic storage container that is heavy. It is a solid color and has a lid on in so you have to open it to see what is inside. The container looks to be about 2.5 to 3 feet wide, 1.5 to 2 feet deep and 2 to 2.5 feet high. It was filled almost to the top.
They open the container and it is filled with boxes of mint products in OGP, plus albums etc. They also find a metal coffer can filled with 90% silver quarters. They think that they have found a very valuable coin collection. The OGP shows mint sets, proof sets and modern commemorative sets. The packaging shows the contents range from the 1960's [i.e. mints sets] forward. Lots of silver commeoratives.
One guy counts out the # of quarters in the coffer can. He spills the quarters onto a flat surface. I saw silver Washington quarters and SLQ's. They all looked circulated to one degree or another. The total # of quarters was just over 430. About $107-$100 in face value.
The two guys said that the value of each quarter was [I recall] $3.00 or $3.25. I do not know when the episode was taped and thus do not know if the stated value aww at melt at the time or below melt.
The two guys are then shown taking the container with the coin collection, including the 90% quarters to a local coin shop. The guy at the shop was all friendly with the two guys and the camera crew. The guy at the shop opened the container, pulled out a few items to look at them and stated that the "collection" was worth "$4,100.00".
The two guys had big grins on their faces when they heard $4,100.00. They sold the collection to the shop for $4,100.00.
I wonder if they had [or now have] any clue that the $4,100.00 paid to them by the shop owner was probably not more than half of the wholesale value of the collection. If so, I bet they regret selling the collection for $4,100.00.
I suspect that the shop owner actually spent some time off camera to take a close look at the collection before he came up with his $4,100.00 buy price.
Did any of you see the show? If so, your thoughts please.
Have you ever watched this show? It is relatively new and is on a cable channel.
The show is centered around Southern California storage unit auctions. The main characters are two guys who work together bidding at storage unit auctions. Other characters are the auctioneer and two or three other guys who are competing bidders. [There is another similar So. Cal. based show that has a slightly different format with four our five separate groups of bidders, all of whom share top billing on the show].
So the episode I watched that had a coin collection involved the two guys who are the main characters winning an auction. They pay the winning bid and a little bit later are shown searching the contents of the storage unit looking for good stuff. They find a big plastic storage container that is heavy. It is a solid color and has a lid on in so you have to open it to see what is inside. The container looks to be about 2.5 to 3 feet wide, 1.5 to 2 feet deep and 2 to 2.5 feet high. It was filled almost to the top.
They open the container and it is filled with boxes of mint products in OGP, plus albums etc. They also find a metal coffer can filled with 90% silver quarters. They think that they have found a very valuable coin collection. The OGP shows mint sets, proof sets and modern commemorative sets. The packaging shows the contents range from the 1960's [i.e. mints sets] forward. Lots of silver commeoratives.
One guy counts out the # of quarters in the coffer can. He spills the quarters onto a flat surface. I saw silver Washington quarters and SLQ's. They all looked circulated to one degree or another. The total # of quarters was just over 430. About $107-$100 in face value.
The two guys said that the value of each quarter was [I recall] $3.00 or $3.25. I do not know when the episode was taped and thus do not know if the stated value aww at melt at the time or below melt.
The two guys are then shown taking the container with the coin collection, including the 90% quarters to a local coin shop. The guy at the shop was all friendly with the two guys and the camera crew. The guy at the shop opened the container, pulled out a few items to look at them and stated that the "collection" was worth "$4,100.00".
The two guys had big grins on their faces when they heard $4,100.00. They sold the collection to the shop for $4,100.00.
I wonder if they had [or now have] any clue that the $4,100.00 paid to them by the shop owner was probably not more than half of the wholesale value of the collection. If so, I bet they regret selling the collection for $4,100.00.
I suspect that the shop owner actually spent some time off camera to take a close look at the collection before he came up with his $4,100.00 buy price.
Did any of you see the show? If so, your thoughts please.
0
Comments
for his kids because "silver always goes up."
roadrunner
<< <i>Didn't see that particular show, but I have seen these guys on other episodes. One would think that derelict storage containers typically contain a lot of valuable collectibles and useful merchandise worth far more than the few hundred bucks it seems it takes to win the average one at auction. Why isn't everyone bidding on them if more than half the time they contain coin collections, antique weapons, quality artwork, and possibly even a Blake & Company Territorial gold bar?
roadrunner >>
They point out that the show is heavily edited and they search many units before coming up with anything worth televising.In the episode where the dude reached in to a suitcase and in one swoop brought out 4 or 5 silver dollars in the palm of his hand , i strongly felt those were planted.
<< <i>Didn't see that particular show, but I have seen these guys on other episodes. One would think that derelict storage containers typically contain a lot of valuable collectibles and useful merchandise worth far more than the few hundred bucks it seems it takes to win the average one at auction. Why isn't everyone bidding on them if more than half the time they contain coin collections, antique weapons, quality artwork, and possibly even a Blake & Company Territorial gold bar?
roadrunner >>
Because the other half contain old holiday decorations, beat up kids toys and trash....I think I saw a posting somewhere online where a guy who has been doing these types of storage unit purchases for years said that only about 1/20 actually pay out good. The other 19/20 usually cost him money to get rid of the stuff. They also seem to find alot of handguns, to me it one seem that would be a big hassle - I wouldn't think you could just walk out of there with a pistol and re-sell it without any paperwork on who owned it previously.
<< <i>I saw that episode and could have swore that at the end of the show, the big guy said he was going to keep them
for his kids because "silver always goes up." >>
Your right, he didn't sell them.
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Kevin, depending on the state, that is not a problem. It would be an issue in NYS and a couple of others. Paperwork is not needed to sell guns in most states, when privately dealing. Cheers, RickO
<< <i>"I wouldn't think you could just walk out of there with a pistol and re-sell it without any paperwork on who owned it previously. "
Kevin, depending on the state, that is not a problem. It would be an issue in NYS and a couple of others. Paperwork is not needed to sell guns in most states, when privately dealing. Cheers, RickO >>
If you find a gun in a storage facility, shouldn't it be ran by the police? Seems no different than finding a gun alongside the road. It should be checked out.
Ricko is correct that private gun sales in many states do not require paperwork.
Mercury
It would have been fun to search through the storage container and the coffee can of 90% quarters to see what was there. I saw some heavily circulated SLQ's and could not help but wonder whether any dateless 1916 quarters were in the pile of coins.
I had my own experience with a forced storgage auction of personal property, including a coin collection back in 2006. I should look up that thread to jog my memory on the details. It was a large collection with a wide range of coins, US, Canadian and Darkside dating from the early 1800's.
<< <i>In the episode where the dude reached in to a suitcase and in one swoop brought out 4 or 5 silver dollars in the palm of his hand , i strongly felt those were planted. >>
was this where they bid on a box of xmas decor, which they won for $1, and found some paper money after, as well? didnt see the end...
<< <i>I wonder if they had [or now have] any clue that the $4,100.00 paid to them by the shop owner was probably not more than half of the wholesale value of the collection. If so, I bet they regret selling the collection for $4,100.00. >>
That was probably a much higher price than would be offered if there wasn't a camera pointed at the dealer.
I happen to like both these shows
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<< <i>
<< <i>In the episode where the dude reached in to a suitcase and in one swoop brought out 4 or 5 silver dollars in the palm of his hand , i strongly felt those were planted. >>
was this where they bid on a box of xmas decor, which they won for $1, and found some paper money after, as well? didnt see the end... >>
I think so , they were on a real bummer of a unit and the guy reached into a side pocket of a suitcase and brought out a handfull of silver dollars.He knew exactly which pocket to reach into and didnt check the rest of the case , that seemed odd.
Some coin collectors may think that others will have valuable stuff, but way less than 1% of the population has any signficant cache of valuable coins.
The antique road show and other shows make a lot of folks think there are treasures out there. Yes, there are a few. However, it is more of a 1-in-1000 long shot for finding even a single item of significant collector value, not every other lot like it is on TV.
The magical part was the unit patch.He was posted as a guard at nurnberg for the nazi trials and all the devices were on the collar and sleeve.Its in the museum in NY now and valued at over 15k.