How do I value "gold and platinum plated Sac dollars" and similar such things?
DaveWcoins
Posts: 1,185 ✭✭✭
I am doing an appraisal for an estate. Unfortunately this person spent tens of thousands of dollars on colorized coins, cheap coins in fancy holders, etc.
Is there any secondary market for these coins at all? Yes -- lots of them in this collection come in fancy wood display cases, etc.
Should they be appraised at face value? (Obviously these were all purchased at outlandish prices. I remember seeing $31.95 for each gold & platinum sac dollar, for example).
I'm pretty certain a bank would not accept these coins even at face value. A number of them appear to be coated in a clear plastic (non-removable, baked on?) casing so they can't even be put through Coinstar machines.
Should they be appraised at less than face value?
They must be worth something to someone, but to whom, and how much?
Is there any secondary market for these coins at all? Yes -- lots of them in this collection come in fancy wood display cases, etc.
Should they be appraised at face value? (Obviously these were all purchased at outlandish prices. I remember seeing $31.95 for each gold & platinum sac dollar, for example).
I'm pretty certain a bank would not accept these coins even at face value. A number of them appear to be coated in a clear plastic (non-removable, baked on?) casing so they can't even be put through Coinstar machines.
Should they be appraised at less than face value?
They must be worth something to someone, but to whom, and how much?
Dave Wnuck. Redbook contributor; long time PNG Member; listed on the PCGS Board of Experts. PM me with your email address to receive my e-newsletter, and visit DaveWcoins.com Find me on eBay at davewcoins
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Comments
Otherwise, 80% of face? Ask a B&M shop what he would pay.
It is really sad how much money these scam companies are pulling out of the pockets of some people.
Buy a face and hope for more on sale.
When I am doing appraisals on these I do them at face value. There is a market for them at around 2-3 X face. I sold some this weekend at a show, but because this market data is not empirically available, I would not include it in an appraisal that I may have to defend in court.
The ones depicted in the OP include a certificate of authenticity. Certainly this drives the wholesale price up, no?
peacockcoins
(I won't name names). They (WE) are just collectors having fun , so who am I to dissuade that ? I have to promote healthy collecting, which offers a decent and fair return. (in the case of "investing" mentality) . You know what you have to do.
Like "investment" grade of old....totally scams.
bob
They are only worth face and likely less..... However, you could put and inflated price tag on them and play the same con game that was played upon the original purchaser....usually, we collectors have more integrity than that. I would save them and give them to YN's as something to whet their interest - while also explaining that they have no numismatic value, and why. Cheers, RickO
I certainly have done that in the past with these sorts of items.
In this case though there are several hundred dollars of face value of these coins in the estate.
It pains me to value them at zero and tell the heirs to simply give them away or throw them in the trash. They are legal tender coins, after all. These aren't "replicas" (although the collection had plenty of those as well).
Not much upside for you in this deal. Any way it goes you'll end up looking like a bad guy.
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To answer the question...the retail value might be 2% over face if you can find anyone interested. I see stuff like this in our coin club auctions and this stuff usually opens at face, gets a bid, and that's it.
I sometimes buy this stuff at face and give it to very young YNs.
Joseph J. Singleton - First Superintendent of the U.S. Branch Mint in Dahlonega Georgia
Findley Ridge Collection
About Findley Ridge
The case is nice.
Would give to YNs.
Use them up in the coin slot at Home Depot.
Seriously though, you MAY check into a charitable donation. They can sit on them 3 years before sale, and the estate may get a tax write off.
$31 @ 28% equals $7.60 each
Shops always try to get more from them, but I have seen them sitting around for a long time...and they probably paid face value (or less for some shops as they will tell the seller they are "damaged").
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