Home U.S. Coin Forum
Options

Finders fee? How much?

Is there a formula for figuring a finders fee? I'm looking at a collection (hoard?) that is going to WELL above anything I could buy outright.

It is a large amount of 90% silver, several bags of silver dollars and a small amount of gold(mostly Liberties but there is a few Indians and two Saints)
So the margins won't be high but the volume will.

Any input will be appreciated!

Comments

  • ShamikaShamika Posts: 18,785 ✭✭✭✭
    5% - 15%
    Buyer and seller of vintage coin boards!
  • llafoellafoe Posts: 7,220 ✭✭


    << <i>5% - 15% >>



    image 10% image
    WANTED: Cincinnati Reds TEAM Cards
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭
    10% is usually standard.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • This content has been removed.
  • 10%
    15% max.

    Everybody have a good weekend!! image

    Eric
  • BroadstruckBroadstruck Posts: 30,497 ✭✭✭✭✭


    << <i>1% to 10% since it isn't alwys th e% sometimes it is the dollar amount. >>



    Realone, So did you give the guy who spent 8 months aiding you in securing a coin 1%, 1.1%, 1.2%, etc. imageimageimage
    To Err Is Human.... To Collect Err's Is Just Too Much Darn Tootin Fun!
  • johnny9434johnny9434 Posts: 29,164 ✭✭✭✭✭


    << <i>

    << <i>5% - 15% >>



    image 10% image >>



    that sounds about right
  • This content has been removed.
  • llafoellafoe Posts: 7,220 ✭✭


    << <i>

    << <i>

    << <i>1% to 10% since it isn't alwys th e% sometimes it is the dollar amount. >>



    Realone, So did you give the guy who spent 8 months aiding you in securing a coin 1%, 1.1%, 1.2%, etc. imageimageimage >>



    I paid $1000 extra on a $3000 coin if you have to know......you figure the %, but in this case it wasn't just a finder's fee. Now that you know will you leave me alone about the deal. >>



    Are there any other $3,000 coins you need (I'm setup to accept $1,000 PayPal gifts!)? image
    WANTED: Cincinnati Reds TEAM Cards


  • << <i>10% is usually standard. >>



    Not for Proof morgans it isn't image

  • The Finder's fee depends totally on the profit margin.
  • This content has been removed.
  • droopyddroopyd Posts: 5,381 ✭✭✭
    5% would be fair for a large lot of what is essentially bulk bullion.

    Maybe up to 10% if the guy actually did any work in tracking down this little horde.
    Me at the Springfield coin show:
    image
    60 years into this hobby and I'm still working on my Lincoln set!
  • GreeniejrGreeniejr Posts: 1,321 ✭✭✭
    It all depends on how much the person you will ultimately sell it to is going to make. If it is mostly bullion related and the dealer won't make more than a few percent. When we negotiate a deal like this, we ask the finder what they want to make and see if we can make it work. Typically a fixed dollar amount is easier on a bullion deal because margins are so small. It is further complicated if you have told the person what full on wholesale is. The dealer is not going to want to bear 100% of the finders fee and will likely deduct a portion of what he has to pay out of the purchase price. All bets are off when it comes to non-bullion items.
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    I have offered double price guide and still not gotten a couple of items I have wanted.image
    image
  • roadrunnerroadrunner Posts: 28,313 ✭✭✭✭✭
    Sounds mostly like a bullion deal. 5% sounds reasonable for a full days work (8 hrs). 10-15% might work for coins that take a lot of time to research prices and get full
    value for them. But bullionesque coins are a fairly tight and well publicized market. You can figure out exactly what you can get for them within about an hour on-line.

    This looks to be approx $100K. I'd be happy to do the work and make $2K-5K. And the only real work is picking up the phone and soliciting a few of the nation's leading buyers.
    Then packaging up the coins in <75 lb. boxes then ship out. REG insurance should run <$300. Spreads are tight and well known on this stuff. It's not like trying to find homes
    for illiquid material or gem MS/PF type coins. I know some dealers in my area (no shops) that would be happy to turn this deal for $5K or less. The stuff would be committed
    within a few hours and sent out within 24 hrs. The sharp dealer can get a few more grand for this material than J6P probably could, and that's their fair profit. But J6P could
    probably call around and get within 5% of fair value and make out essentially the same with or w/o a middleman....at least on this type of material.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • Mission16Mission16 Posts: 1,413 ✭✭✭
    RoadRunner is right, I believe. It seems like a mostly bullion lot. The dollars seem interesting because the 2 boxes I have now are most AU-BU 1890's. I am meeting with the owner tomorrow at my bank to see what all they have.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭


    << <i>

    << <i>10% is usually standard. >>



    Not for Proof morgans it isn't image >>



    image
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file