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Did my grandparents get ripped off?
draley
Posts: 3
Forgive me. I'm new to this coin collecting thing. My grandparents just asked me if I could help them -- they bought three sets of coins in 1985 from Security Rare Coin & Bullion Corp (which I have just discovered was sued for fraud in 1986, six months after my grandparents bought the coins -- which is no good ). I fear they may have paid more than they should have.
The three sets of coins are below -- are they worth what was even paid for them back in '86?
--1955-P Franklin Half Dollar Roll MS 63-65 Ch Uncirculated (20 coin roll). Paid $1,040.
--1960-P Roosevelt Dime Roll MS 63-65 Ch Uncirculated (50 coin roll). Paid $145.
--Swiss 20-Franc Gold Vreneli MS 63+ Ch Uncirculated (5 cion roll). Paid $635.
Please, be honest with me. Did my grandparents get ripped off?
The three sets of coins are below -- are they worth what was even paid for them back in '86?
--1955-P Franklin Half Dollar Roll MS 63-65 Ch Uncirculated (20 coin roll). Paid $1,040.
--1960-P Roosevelt Dime Roll MS 63-65 Ch Uncirculated (50 coin roll). Paid $145.
--Swiss 20-Franc Gold Vreneli MS 63+ Ch Uncirculated (5 cion roll). Paid $635.
Please, be honest with me. Did my grandparents get ripped off?
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<< <i>--1955-P Franklin Half Dollar Roll MS 63-65 Ch Uncirculated (20 coin roll). Paid $1,040. >>
Worth around $400.
<< <i>--1960-P Roosevelt Dime Roll MS 63-65 Ch Uncirculated (50 coin roll). Paid $145. >>
Worth around $40.
Sorry to see this. It is really unfortunate.
Is it too late to sue the turds?
By the way ....
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
Even a few MS66's and your grandparents could break even.
I'll give ya 55 for one of the 55's, just cuz it's my birth year.... but make it the nicest one, okay ?
Until silver reaches about 150 per ounce, I'd say yes, they got a bit turned upside down in that deal.
Practice makes perfect & nobody is perfect. So, practice being nobody and be perfect !
You may have been helped out on your loss with the 20-Franc gold coins
Swiss 20-franc gold coin featuring the head of a woman. A Swiss 10-franc gold coin is known as a 1/2 Vreneli. The 20-franc pieces have a fine gold content of 5.806 grams and a gross weight of 6.45 grams.
I'll let you figure out the gold content @ $600 an ounce
They're selling them here for $204 each
My posts viewed
since 8/1/6
Those five gold pieces should be worth almost what they paid for them, now that gold has reached $600 an oz.
Box of 20
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The problem is trying to not lose a ton on the Frankies. I'd suggest you post a couple (least marks) here if you know how to photograph them, (both sides) to get an idea of grades. Unless the nicest ones are Gem, paying more for grading probably is good money after bad, and selling them as a roll for $400ish might at least get almost 1/2 their money back.
Sorry to hear these slim bags took advantage of them-----
<< <i>If there were just one MS67 Full Bell Lines in that group of 55 Franklins..... you are looking at a ten thousand dollar coin. Chances are next to nill, but some people have been struck by lightning more than once and survived. >>
The average grade of a '55 Franklin from an ORIGINAL roll is 62-63. If this is a put together roll, I wouldn't be surprised to see quite a few sliders in it. The overwhelming majority of gem '55 Franklins were pulled from mint sets.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>
<< <i>If there were just one MS67 Full Bell Lines in that group of 55 Franklins..... you are looking at a ten thousand dollar coin. Chances are next to nill, but some people have been struck by lightning more than once and survived. >>
The average grade of a '55 Franklin from an ORIGINAL roll is 62-63. If this is a put together roll, I wouldn't be surprised to see quite a few sliders in it. The overwhelming majority of gem '55 Franklins were pulled from mint sets. >>
Many people should take heed to this. It is the truth and can save guys hundreds of dollars on submission fees for an otherwise lovely coin. That is why I sufficed it with " some people have been struck by lightning twice and survived"... the chances aren't good, but they do exist. My highest grade so far from any roll for submission was MS64 for any pre 1964 roll, and MS65 from any clad roll. (any higher came from US MINT wrapped rolls/bags/ or US mint sets)
LOL@fletcher....... talk about rubbing salt in a wound.
Practice makes perfect & nobody is perfect. So, practice being nobody and be perfect !
We all should have done that.
I'll look into getting ahold of them to take some photos -- or is it a bad idea to remove the original packaging? (newbie question, I know)
If, as I believe, there is no issue with scrapping the original packaging, then you can take a pic of the coins without it.
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
<< <i>They should have bought $2,000 worth of Microsoft instead. >>
Microsoft didn't go public until the fall of 1986.
Russ, NCNE
<< <i>
<< <i>They should have bought $2,000 worth of Microsoft instead. >>
Microsoft didn't go public until the fall of 1986.
Russ, NCNE >>
The sad sad irony continues.
I plan on getting the coins from my grandparents, photographing them, and putting them up on the forum for input.
Wear gloves, don't be sneezing on them, don't get them near super glue fumes, and do not wash them off, please !
Don't rub them on the sleeve of your shirt to make them shinier, don't dip them in silver cleaner. Any other "DON'T's anyone can think of ???????
Practice makes perfect & nobody is perfect. So, practice being nobody and be perfect !