Update on my Doing an Appraisal...
airplanenut
Posts: 22,390 ✭✭✭✭✭
If you recall, I asked earlier in the week about what to charge in doing an appraisal. I'd find the thread, but I'm not on my computer right now, and the dialup connection I have is way too slow to go searching. Anyhoo, an update...
I met with the person who asked me to look over what her parents had given her on Wednesday, and she brought a heavy box. The box had a variety of items, including a huge bag of silver (Washingtons, Roosevelts, etc.), morgans, baber halves, and more.
Since there were way too many coins to look through individually (and she more wanted a rough estimate of what to expect from a dealer so she knows she won't be taken), I decided first to look through all of the morgans, as they're easy to go through. Amidst the stacks of coins, I pulled out every better date (a few CCs) and the higher graded pieces (AUs) that should command a premium over the rest. I figured that if they were separated, it would be more likely that the better coins wouldn't be overlooked in a group of hundreds of pieces.
I also looked through the Barber halves for anything nice, but it turned out to be all low grade circulated stuff that would pretty much just command a common price per coin once counted. Then, I looked through the small amount of type. A few pieces were your typical low end seated half dimes, but there were a few neater coins. First, a AU bust half dime... that was the real winner of the whole lot. The other neat coin was a 3CN with a cud, lots of die cracks, and lamination... a comedy of minor errors. Unfortunately, it had been cleaned
Anyway, there was way too much for me to look through individually, but I did enjoy telling her about what she had, and she was genuinely interested to know about the coins, as well as their values. What was also nice is that she understood well when I said a dealer will pay much less than what he'll sell for, simply because the coins are mostly low-value. This is someone who understood that time was money, and realized it was still a better option to go to a dealer than try to sell the coins individually herself. So in the end I gave her a good local dealer to go to, and it looks like all will work out well. She was armed with knowing approximately what the coins were worth, and I got to get my hands dirty going through a lot of old coins that were well loved in their prime. I ended up charging $20 for the just under an hour I spent going over the lot--I enjoyed what I did, so making a little on the side only made it better.
Thanks to everyone for the advice, and let me say that it really can be fun to just go through lots and lots of coins, whether or not they're the type that you collect.
Jeremy
I met with the person who asked me to look over what her parents had given her on Wednesday, and she brought a heavy box. The box had a variety of items, including a huge bag of silver (Washingtons, Roosevelts, etc.), morgans, baber halves, and more.
Since there were way too many coins to look through individually (and she more wanted a rough estimate of what to expect from a dealer so she knows she won't be taken), I decided first to look through all of the morgans, as they're easy to go through. Amidst the stacks of coins, I pulled out every better date (a few CCs) and the higher graded pieces (AUs) that should command a premium over the rest. I figured that if they were separated, it would be more likely that the better coins wouldn't be overlooked in a group of hundreds of pieces.
I also looked through the Barber halves for anything nice, but it turned out to be all low grade circulated stuff that would pretty much just command a common price per coin once counted. Then, I looked through the small amount of type. A few pieces were your typical low end seated half dimes, but there were a few neater coins. First, a AU bust half dime... that was the real winner of the whole lot. The other neat coin was a 3CN with a cud, lots of die cracks, and lamination... a comedy of minor errors. Unfortunately, it had been cleaned
Anyway, there was way too much for me to look through individually, but I did enjoy telling her about what she had, and she was genuinely interested to know about the coins, as well as their values. What was also nice is that she understood well when I said a dealer will pay much less than what he'll sell for, simply because the coins are mostly low-value. This is someone who understood that time was money, and realized it was still a better option to go to a dealer than try to sell the coins individually herself. So in the end I gave her a good local dealer to go to, and it looks like all will work out well. She was armed with knowing approximately what the coins were worth, and I got to get my hands dirty going through a lot of old coins that were well loved in their prime. I ended up charging $20 for the just under an hour I spent going over the lot--I enjoyed what I did, so making a little on the side only made it better.
Thanks to everyone for the advice, and let me say that it really can be fun to just go through lots and lots of coins, whether or not they're the type that you collect.
Jeremy
JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
0
Comments
<< <i>I'd find the thread, but I'm not on my computer right now, and the dialup connection I have is way too slow to go searching. >>
Dialup?? Jeremy, please tell me they have better than that at MIT
Edited to add, I think she got a good deal for only twenty bucks!
Camelot
The 'seller' would get more than the dealers offer & maybe you can get a small commission on the sales, at $20 an hour you are a bargain.
I wouldn't mind paying more than a dealer for an AU Bust half-dime.
Time is money, but the time waited I think would be worth the money.
siliconvalleycoins.com
It sounds like a good deal for both parties.
I'm at my grandparent's house now... my grandfather is FINALLY talking about DSL. MIT is blazing fast
CL,
I don't date married women with children my age, thank you very much (or married women, or women old enough to have children my age, etc.)
As for what I charged, I chose to charge low because I really glossed over things quickly, and found myself having more fun making it a teaching as opposed to business experience. Perhaps she'll keep a few for sentimental and numismatic reasons now. Plus, it's someone I've known for a very long time, and I have no problem doing the occasional nice thing that doesn't pad my pocket (note, I said occasional
Jeremy
siliconvalleycoins.com
Just kidding, Jeremy.