How do I value "gold and platinum plated Sac dollars" and similar such things?

DaveWcoins

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?

TwoSides2aCoin

"Have fun with your coins"

s4ny

Any of the coins have gold or silver?

Otherwise, 80% of face? Ask a B&M shop what he would pay.

fishteeth

I just got done with a very similar collection. The bank did not want them. Finally got a dealer friend to take them for face value to try and slowly sell out of his junk bin. Had over 800 dollars in face. I also remember seeing the 31 dollar price tag.

It is really sad how much money these scam companies are pulling out of the pockets of some people.

LindeDad

eBay Estate find Moon Money.



Buy a face and hope for more on sale.

AMRC

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.

braddick

Originally posted by: AMRC
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?

TwoSides2aCoin

When someone tells me : "My dad bought these for XXX on television", it's just as bad as hearing "My dad bought these from ______".
(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.

ricko

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

AUandAG

I have never seen these in any collections, except seniors. Hawkers preying on the elderly with diminished metal capacity in my opinion. Children should occasionally ask what "deals" their parents are buying and intervene if necessary.

Like "investment" grade of old....totally scams.



bob

DaveWcoins

Originally posted by: ricko

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).

BryceM

Sad.



Not much upside for you in this deal. Any way it goes you'll end up looking like a bad guy.

oih82w8

I would buy them for face-value and use them as tips whenever the mrs. and I go out on the town.

JJSingleton

"Buy What You Like"



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.

cmerlo1

I helped a dealer friend of mine with a collection that had stuff like this in it. We used eBay sold listings (when we could find them) to set the value. They also gave us a general idea of the value of the stuff we couldn't find.

planetsteve

I wonder if the wood cases, once emptied, would be worth something. Very sad.

CaptHenway

When I worked in a coin shop we bought stuff like this at face value and gave it out from the cash register.

Raufus

Such a shame to C people scammed like this.
The case is nice.
Would give to YNs.

mustangmanbob

Tips are always at face value.

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

TigersFan2

Maybe the wooden cases are of value to someone.

Bochiman

Sadly, I am with the "face value" crowd.



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").