.

EastonCollection

never mind - post went too off topic

abitofthisabitofthat

When you feed your son dinner, how much profit margin do you factor in over your cost of groceries?

Unknown

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BillJones

It depends upon what the coin is and what it is really worth. If the coin is worth more than the 10% mark-up, well ....

Ten percent is a minimal mark-up for a dealer unless it is an expensive item ... Which means easily worth 5 figures.

EastonCollection

.

MGLICKER

I could not fathom making a nickel profit off my father. It would have been a gift.

MsMorrisine

Are you shooting your own reality tv show?

TopographicOceans

The value of anything is what a willing buyer will pay a willing seller in an arms length transaction.

So if you're willing to pay 10% over his cost, what is he willing to sell it to you for?

EastonCollection

MsMorrisine

We need to survey 100 forumites first...


0%

MGLICKER

<< <i>Ok - what's a fair price for a very nice AU58 Barber half 1906S. Its really great looking and he found a winner for me! >>



Probably best that you pass. It will always bring back memories of an uncomfortable transaction.

coindeuce

How is your son's offer of a coin that you desire causing a family feud, unless you initiated it?

Broadstruck

<< <i>Ok - what's a fair price for a very nice AU58 Barber half 1906S. Its really great looking and he found a winner for me! >>



You should let him make at least 150% profit if he's not being greedy as that's a better date and tough to find nice in AU58.

My 8 year old negotiates hard as he was trying to get 50% of what I got for selling utility trailer on CL for helping me wash it.

I was at $5 and tried to make him understand if I could get $650 for washing a trailer I would wash them 365 days a year

DollarAfterDollar

Well, he knew you needed that coin and he took the initiative to search on your behalf so I can understand a finders fee of 10%. I wouldn't expect him to gift it to you unless it's your birthday.

1906 - S in AU 58 is about $300.

Sunshine Rare Coins

MsMorrisine

0%

I'll raise it to 0.00% if you twist my arm

thisnamztaken

If it's in a PCGS holder, their price guide says $950. for an average 58. If it's high end for the grade, it's worth a bit over that, but if you two disagree on a fair price you'll need to decide whether it's worth arguing over and possibly allowing animosity or resentment to interfere with your relationship. If not, you could politely tell him it might be better to sell it to a non-family person.

Broadstruck

<< <i>The coin is a great 58! It looks better than the photo! >>



That's a great looking Barber... The reverse is quite dreamy as it looks MS64 due to the busy design which protects the fields

EastonCollection

,

TopographicOceans

$13 million dollars

lunytune2

If he is planning on inheriting it someday 0%

MGLICKER

<< <i>$13 million dollars >>



Not a bad idea, then TDN will have to have it!

Broadstruck

Well give him a healthy profit on this one and offer him a finders fee reward on others... Since it's always better to have 4 eyes out there looking for you then just 2

AUandAG

How old is you son?

I am assuming he is living with you (you feed him).

You taught him well, and if you can't agree to a price then he should sell and then find
other customers to search for that would be willing to pay for his effort.....

bob

Bochiman

Reading the first few posts by the OP, I figured it was a post all in fun.

I would go along the lines of $50+ since he found something that I wanted. Why? Because it shows me we are connecting and he has an understanding of what I like and what I need. It will bring the collecting a little bit closer and encourage him to continue to keep an eye out.

Too much $$$ and it could taint how he views things (only with $$$ in mind) and open things open to just trying to fill the holes any way possible, regardless of how the coin actually looks.
Nothing, or too little, and it could be a "thanks for the thanks, but my time is being taken up now....no more of this for me" type of thing.

If my son found a coin we needed, and it was really a dozy at a good price, I could easily see me flipping him $20 on a lower priced coin, up to $50ish for a more expensive one.

crazyhounddog

Do you have an on going deal with your son? Such as ....You find it and if I like it I'll pay you X amount of dollars as a finders fee? I have one like that with my son. Before ya ask yes my son and daughter will receive some of my collection. But I only have a deal like this with my son. So, I think he should receive something for his time and efforts.

wondercoin

Very simple answer here.

Give your son full value for the coin regardless of what he paid for it. Plain and simple.

Wondercoin

grote15

<< <i>I could not fathom making a nickel profit off my father. It would have been a gift. >>



When I agree with Mglicker, that is the correct answer, LOL..

lcoopie

Zero

WoodenJefferson

A saw buck!

mozin

Just pay what would be fair market value, say $850. Percent profit should not be an issue.

mariner67

<< <i>I could not fathom making a nickel profit off my father. It would have been a gift. >>



+1

LindeDad

If a family member has to make a profit, I'm out of the deal.
I have sold many coins to my friends at cost.

JustMe2

<< <i>

<< <i>Ok - what's a fair price for a very nice AU58 Barber half 1906S. Its really great looking and he found a winner for me! >>



Probably best that you pass. It will always bring back memories of an uncomfortable transaction. >>



I could not disagree more. Did you not receive an allowance as a kid? I also worked at my dad's small business which I was paid for. When I needed to borrow money for a down payment on a house from him, he charged me the going interest rate. I learned the value of money and work.

grote15

<< <i>

<< <i>

<< <i>Ok - what's a fair price for a very nice AU58 Barber half 1906S. Its really great looking and he found a winner for me! >>



Probably best that you pass. It will always bring back memories of an uncomfortable transaction. >>



I could not disagree more. Did you not receive an allowance as a kid? I also worked at my dad's small business which I was paid for. When I needed to borrow money for a down payment on a house from him, he charged me the going interest rate. I learned the value of money and work. >>



Not an accurate analogy, imo~a son is already indebted to a father unless he was paying for meals, rent, tuition, etc, from the age of 3. IMHO a son ought to give an item like this to his father without thinking of making a profit because of the valuable lessons and the monetary support he's already received during the years. A father also doesn't turn his back on his son in a crisis, even if said son cannot afford to pay his dad back with interest. If he can, that's even better, but that should not be something a dad expects, if it's not possible, just to help out.

roadrunner

<< <i>If a family member has to make a profit, I'm out of the deal.
I have sold many coins to my friends at cost. >>



I "sold" some coins to friends for nothing (up to $200). Let's just say that after waiting up to 2 yrs for payment, I stopped asking about them.

I agree with WonderCoin. Pay what the coin is worth. If the kid is 10 years old, I might modify that a bit. If you encourage a future sharp-eyed collector/dealer it's a WIN-WIN.

Tookybandit

Have him sell it on eBay, and hopefully you will win the auction. If not, there are no hard feelings for either of you. Otherwise, he will whine about it forever that he gave you too good of a deal just because you're family.

GRANDAM

Tell him Christmas is just around the corner

GrandAm

3keepSECRETif2rDEAD

...I say give the boy whatever he is asking...




































...but with a small contingentcy of course: that he will indeed inherate the coin, but only in the form of melted silver

Erik

ebaybuyer

if you don't reward the kid for finding a keeper, do you think he will sell the next one to you ?? you don't mind if your coin dealer rips off some old lady and makes 2000% profit, but you don't want to pay your own kid a respectable margin ?

erwindoc

Id offer him a trade for it rather than pay for it. Another coin, a later night out/overnight with friends, whatever terms you could come to. Would be a fun lesson for him. Sounds like a good coin to have under the roof either way.

TopographicOceans

If you follow the all the advice in this thread, one day you'll refer him to as your estranged son.

MGLICKER

<< <i>

<< <i>

<< <i>Ok - what's a fair price for a very nice AU58 Barber half 1906S. Its really great looking and he found a winner for me! >>



Probably best that you pass. It will always bring back memories of an uncomfortable transaction. >>



I could not disagree more. Did you not receive an allowance as a kid? I also worked at my dad's small business which I was paid for. When I needed to borrow money for a down payment on a house from him, he charged me the going interest rate. I learned the value of money and work. >>



First off, the OP seems to have offered the kid a 10% profit on the deal. Apparently the young man believes that he should be in for a fatter profit. Rather than create further friction with the young man it is best to let the deal go.

Yes I received an allowance. Started at 3 cents and ran up to $20 a week in college. I accepted the money graciously and never recall trying to hustle an increase. It was not a salary but a gift. I certainly did plenty of work around the house. Mowed the lawn, shoveled the snow, hauled out the garbage, etc. But I did that graciously as well (though I hated the snow shoveling part).

After college and receiving my first couple of real, full time paychecks, I headed to Tech Hi Fi, dumped the money on the counter and bought my father the best stereo system I could get. It was an honor to be able to thank him a bit for the 20 years that he helped me out.

Yeah....I learned the value of money and work too.

TwoSides2aCoin

never mind, too

messydesk

What are the current dynamics between you and your son? Sounds like he took on some risk by buying it with the intention of reselling it, so do you want to send the message that risk can yield some reward? Have you offered your son incentives to bird-dog nice coins for you in the past? Does it seem like he might be good at doing it for you in the future if so motivated? 10% profit if the price is fair seems reasonable, but it probably would have been best if you made an offer before knowing what he paid so he could have determined whether he made a wise purchase.

410a

.......they are Ungrateful, Unthankful and Unholy............

Unknown

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TwoSides2aCoin

Put him up for adoption.

amwldcoin

<< <i>My son found a nice coin for my Barber Half set. He wants to sell it to me. My question is how much profit should he be making off his dad?
Your assistance is appreciated. I am willing to give him 10% profit. >>



Offer the coin to me! I bet I would be willing to offer him more than a 10% profit! Fair is Fair...offer him what it's worth and if he wants to give you a break let him!

Shamika

Finders fee!!!

EastonCollection

never was a problem - resolved.