Picked up from a yard sale today....what are these things worth? caution many pics.

eyoung429 · July 9, 2005 4:49AM

There is a $10 one as well but I will post those pics later....PS... Think that these will go UCAM?

Here is the $50 one:

Here is a FULL POUND $1000

Here is a $20 one.

Will pcgs slab these and what are the pops on them?

Danegeld · July 9, 2005 4:52AM

Hmmm... Silver is at $7.0??? Hard to say.

Take Care
Ben

Russ · July 9, 2005 4:54AM

Melt plus a small %.

Russ, NCNE

USC · July 9, 2005 4:55AM

Are these slabbed like coins? Do you have pics of slabbed examples?

michael · July 9, 2005 4:58AM

well if the one that says one pound .999 silver is what it says it is and is correct to the standard used today in western countries

one troy pound of .999 silver which is 12 troy ounces and silver closed close to 7 a troy ounce that is melt value approx 83.50

and i think itcan be sold for cash to a coin store at around 75 dollars as if i has this thing i would retail it at 83 dollars and say under melt

fishcooker · July 9, 2005 5:02AM

I don't think I'd pay melt for the $20 one. Jackson looks kinda scary!

Grant looks OK, though.

goose3 · July 9, 2005 5:47AM

so what did YOU pay for them?

PerryHall · July 9, 2005 6:17AM

If you got them at close to melt you did all right.

al410 · July 9, 2005 6:27AM

I have seen those silver bills on ebay bring 9-10 an ounce if there in good shape, especially the pound pieces.
AL

KurtHorn · July 9, 2005 6:37AM

None of the TPG's will slab anything that big...

cladking · July 9, 2005 6:41AM

Be careful with this sort of thing. If memory serves these are OK but many are just
silver plate. Almost all the one pound ones are not 1lb(a) but the lighter 1lb(t).

There are some "silver" rounds that claim to be 999 but are mere plate. Any of these
advertised in magazines in the last twenty years are suspect.

D'oh- edited for weights. Thanks PerryHall.

PerryHall · July 9, 2005 7:31AM

Cladking---1 Lb Avoidupois weights more than 1 Lb Troy. While 1 oz Avoidupois is lighter than 1 oz Troy, there are 16 oz's in the Avoidupois pound and only 12 oz's in the Troy pound.

291fifth · July 9, 2005 7:35AM

If you sell them to your local dealer you will probably get somewhat less than melt.

TorinoCobra71 · July 9, 2005 8:08AM

<< <i>Melt plus a small %.

Russ, NCNE >>

Quick and too the point, Eh RUSS???

Just like the moniker sez..........."Coin Ferengi"

Make/Turn a FAST buck!

TorinoCobra71

eyoung429 · July 9, 2005 8:40AM

I only paid $40 for them...

You should see all the other stuff I got VERY inexpensively from there....I think I was the first one there as they were still setting up and all the coins were still in boxes..

I grabbed EVERYTHING.. I will be posting as I go through it all.

MadMarty · July 9, 2005 9:19AM

<< <i>I only paid $40 for them...

You should see all the other stuff I got VERY inexpensively from there....I think I was the first one there as they were still setting up and all the coins were still in boxes..

I grabbed EVERYTHING.. I will be posting as I go through it all. >>

For ALL of them!!!

OffMetal · July 9, 2005 9:37AM

Maybe he paid $40 for the silve bills, Marty

Ben

eyoung429 · July 9, 2005 11:35AM

$40 for 4 bars including the full pound one

$100 for 45 proof sets, silver 1 dollar maples (6), 11 sets of '71,'73 and '74 proof Ike's, 7 sets of proof olympic 4 coin commemoratives.....just a hell of a lot of coins....I will be posting them.

Found out it was a divorce sale.

MAD4MORGANS · July 9, 2005 12:05PM

<< <i>Found out it was a divorce sale. >>

Did you ask HER if she had any coins to sell!!

ps I like those silver bars. Much better than state quarters!!

PerryHall · July 9, 2005 7:46PM

If a little old lady brought these silver bars to a coin shop and the dealer gave her $40 for all of them, we would be ripping the dealer up one side and down the other for being a crook.

Dog97 · July 9, 2005 9:05PM

Good thing it was a yardsale then, huh?

RegistryCoin · July 9, 2005 9:40PM

I had a feeling that this would be coming up when I saw the prices paid. Remember that in a divorce sale, getting full value for an "ex's" assets, may purposefully not be the goal of the seller. If instead of an organized yard sale, these items could have been seen flying out of an apartment window, and "picked up" just as easily. and even cheaper.

PerryHall · July 9, 2005 10:10PM

You can rationalize anything. A dealer could say: "But I have to pay rent, utility bills and other expenses" to justify cheating a customer. If the woman at the yard sale was offered a fair price for her silver, I doubt that she would have turned it down.

RegistryCoin · July 9, 2005 10:17PM

You are probably right, but ya never know. Emotions are wierd at times. Sometimes these type of sales are really for entirely different purposes, ie., revenge, making "announcements", (re)aligning friendships and familial relationships, establishing new status, etc., and may really have nothing to do with money.

MAD4MORGANS · July 9, 2005 10:24PM

If it weren't one person it would been another. At least now it will be with someone who appreciates it for its artistic value rather than melted silver.

What if she took it to a pawn shop instead. Talk about total rip off.

Iwog · July 9, 2005 10:31PM

There is nothing unethical about paying whatever price a seller is offering coins at. The reason most coin dealers are criminals is defined by agency law.

A coin dealer tells everyone he is a professional, therefore is capable of rendering an opinion of value that is assumed to be somewhat accurate. Same as if you hired a professional to appraise your house. The uninformed seller is seeking out a professional BECAUSE she has no idea what the coins are worth and thinks she is doing the right thing in getting a professional opinion. The naive widow might even think there are laws protecting her from being swindled. (There ARE laws but they are usually ignored by the local law enforcement)

After walking in the shop, the coin dealer usually puts a non-collector on the spot immediately by asking how much they are willing to sell the collection for. Of course the poor widow has no idea what the coins are worth, but sometimes she'll be compelled to give some kind of an estimate. If her estimate is 10% of the real value of the coin collection, the dealer will ALWAYS (no exceptions) agree to her price. This is the standard screwing job and most coin dealers will actually brag about these deals to other dealers.

A smart seller will not give a price and will instead allow the dealer to bid. Now the coin dealer isn't so interested in the coin collection because he knows he'll have to come somewhat close to the real value. Somewhat close is usually around 50% of what he can sell the coins for. He's also on the spot for giving "expert advice" and in most cases is about to commit a felony. (once again this is usually ignored by law enforcement although it happens in almost every coin shop every day)

Most of this applies to collector coins. Silver bullion is usually bid at 80-90% of melt simply because most people can do some math to figure out some kind of value.

Anyone who doubts what I am saying can easily prove or disprove it by going to a coin shop with some raw coins and offering them for sale. You will get the standard "whadda want for em?" and you can then give an absurdly low value which will be almost instantly accepted. I've been in this business a long time and know it to be true.

Conder101 · July 10, 2005 2:22AM

But is there a legal difference in the dealers responsibility depending on how the question of valuation is phrased?

Asking "What are these worth?" would seem to place upon the dealer the legal responsibility to answer as a person being requested for a professional opinion based upon their perported 'expert' status. And I would think that agency law would apply in this case.

However, if you asked "What will you give me for these?" does not seem to me to be a request for a professional opnion of value but merely a solicitation for an offer which I may accept or refuse. In this case the dealer would not be acting as an agent for the seller but strictly for his own interests.

This may seem like splitting hairs but that is exactly what lawyers do. They are specialists in language and should be quick to point out that exacly how something is worded can make a big difference in exactly what it means and what obligations are implied.

cladking · July 10, 2005 2:34AM

<< <i>

This may seem like splitting hairs but that is exactly what lawyers do. They are specialists in language and should be quick to point out that exacly how something is worded can make a big difference in exactly what it means and what obligations are implied. >>

Unfortunately however, legalese often bears very little resemblance to English. A person should use common sense.

Picked up from a yard sale today....what are these things worth? caution many pics.

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