So, a man called me yesterday, wanting to sell some "silver dollars"...
lordmarcovan
Posts: 43,893 ✭✭✭✭✭
A man called me yesterday, wanting to sell "thirty or forty silver dollars".
He'd gotten my home phone number from the wooden nickels I give away in a little drawer at my antique mall booth. (These function as my business cards.) It just so happens, I am all but sold out on silver dollars there, but I'm also for all practical purposes broke, at least until I get my monthly vendor check and my eBay auctions close (and that stuff is just cheap Darkside material). Those to whom I owe money for BST deals know I've got a slight, temporary cashflow crunch and are being patient with me.
So I'm not exactly in a buying position.
I told him I had just bought twenty or so, over $300 worth (which is partly why I'm near broke), and though I could probably find a use for his coins (who couldn't?), I had already bought the others (on the BST here) and was maxed out and living on a thin margin financially at the moment. I had to explain I'm quite a small-budget dealer, apologized, and candidly suggested he'd probably make more money carrying them to the nearest coin shops in Savannah, GA or Jacksonville, FL, anyway (about 80 miles in either direction).
I told him I was semi-interested but probably couldn't swing the deal right now. The luck of his timing was poor. Out of curiosity, I asked him how much he wanted for them.
"Nine or ten bucks apiece", came the reply.
Hmm. "Tell you what- call me tomorrow", I said.
He just did. He just told me there are forty coins. I believe I heard him call them Morgan dollars yesterday.
"Yesterday you said something about nine or ten bucks apiece?" I asked today, to reiterate.
"I've decided I want ten apiece, since some are nice and still in plastic cases", he replied.
There followed a moment's discussion of these "plastic cases", with me trying to ascertain what they were, and whether the coins in question were really Morgan dollars at all, or proof Ikes or what. I am still not sure, but this "plastic" case thing is intriguing, I'll admit.
"These are MORGAN dollars, right?" I asked today.
"Yeah", he said.
Hmm.
So it appears that this afternoon, we are gonna discover how much is left in LordM's savings account, and how much lifeblood is left to be sucked out of his poor, anemic, groaning credit card, and if four hundred dollars can be pried therefrom.
But not until we establish the identity of these coins.
What do you think I am going to see this afternoon, for ten bucks a pop? Real Morgan dollars? Whizzed? Cleaned? (If memory serves, ten bucks is less than melt these days, so I could live with that). Could they really be decent Morgans? What about the "plastic cases"- GSA holders? Slabs? Surely not. Or are they National Collectors Mint "tribute" coins, or Ikes?
Stay tuned for the next exciting episode of Lord Marcovan Chases The Wild Silver Goose.
And what if they WERE slabbed coins or GSA pieces? Would it even be ethical to buy them for ten dollars apiece? One detail he mentioned is that the coins are still priced on the holders, with $15, $25, $35, etc. So it sounds like perhaps the "plastic cases" are merely flips. In mentioning the prices on the holders, the caller suggested that he knew he was offering me a bargain, and I agreed that it certainly sounded that way. I already told him that bigger dealers in the larger towns would likely be able to handle the purchase better or perhaps pay more than little ol' me, but since it's an hour's drive in any direction to any "real" coin shop, I could be the source of a cheaper but quicker local buck if he wanted a faster sale.
Who knows what the afternoon holds. I am meeting him at my credit union at 3:00.
Any predictions?
He'd gotten my home phone number from the wooden nickels I give away in a little drawer at my antique mall booth. (These function as my business cards.) It just so happens, I am all but sold out on silver dollars there, but I'm also for all practical purposes broke, at least until I get my monthly vendor check and my eBay auctions close (and that stuff is just cheap Darkside material). Those to whom I owe money for BST deals know I've got a slight, temporary cashflow crunch and are being patient with me.
So I'm not exactly in a buying position.
I told him I had just bought twenty or so, over $300 worth (which is partly why I'm near broke), and though I could probably find a use for his coins (who couldn't?), I had already bought the others (on the BST here) and was maxed out and living on a thin margin financially at the moment. I had to explain I'm quite a small-budget dealer, apologized, and candidly suggested he'd probably make more money carrying them to the nearest coin shops in Savannah, GA or Jacksonville, FL, anyway (about 80 miles in either direction).
I told him I was semi-interested but probably couldn't swing the deal right now. The luck of his timing was poor. Out of curiosity, I asked him how much he wanted for them.
"Nine or ten bucks apiece", came the reply.
Hmm. "Tell you what- call me tomorrow", I said.
He just did. He just told me there are forty coins. I believe I heard him call them Morgan dollars yesterday.
"Yesterday you said something about nine or ten bucks apiece?" I asked today, to reiterate.
"I've decided I want ten apiece, since some are nice and still in plastic cases", he replied.
There followed a moment's discussion of these "plastic cases", with me trying to ascertain what they were, and whether the coins in question were really Morgan dollars at all, or proof Ikes or what. I am still not sure, but this "plastic" case thing is intriguing, I'll admit.
"These are MORGAN dollars, right?" I asked today.
"Yeah", he said.
Hmm.
So it appears that this afternoon, we are gonna discover how much is left in LordM's savings account, and how much lifeblood is left to be sucked out of his poor, anemic, groaning credit card, and if four hundred dollars can be pried therefrom.
But not until we establish the identity of these coins.
What do you think I am going to see this afternoon, for ten bucks a pop? Real Morgan dollars? Whizzed? Cleaned? (If memory serves, ten bucks is less than melt these days, so I could live with that). Could they really be decent Morgans? What about the "plastic cases"- GSA holders? Slabs? Surely not. Or are they National Collectors Mint "tribute" coins, or Ikes?
Stay tuned for the next exciting episode of Lord Marcovan Chases The Wild Silver Goose.
And what if they WERE slabbed coins or GSA pieces? Would it even be ethical to buy them for ten dollars apiece? One detail he mentioned is that the coins are still priced on the holders, with $15, $25, $35, etc. So it sounds like perhaps the "plastic cases" are merely flips. In mentioning the prices on the holders, the caller suggested that he knew he was offering me a bargain, and I agreed that it certainly sounded that way. I already told him that bigger dealers in the larger towns would likely be able to handle the purchase better or perhaps pay more than little ol' me, but since it's an hour's drive in any direction to any "real" coin shop, I could be the source of a cheaper but quicker local buck if he wanted a faster sale.
Who knows what the afternoon holds. I am meeting him at my credit union at 3:00.
Any predictions?
0
Comments
Puro's Coins and Jewelry
Rutland, VT
(802)773-3883
Link to my website www.vtcoins.com
Link to my eBay auctions
Buy, sell and trade all coins, US paper money, jewelry, diamonds and anything made of gold, silver or platinum.
<< <i>Any predictions? >>
Ikes.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Best case >>> 1921's
<< <i>
<< <i>Any predictions? >>
Ikes.
I haven't yet met a non-numismatist who didn't think all Ikes were "silver dollars".
An authorized PCGS dealer, and a contributor to the Red Book.
K S
I just looked up silver on Kitco. At .7734 oz., with today's spot of $14.23, the bullion content of silver dollar (melt) is 11.005482. Eleven bucks exactly.
So if they're real Morgans and not total dogs worth only spot, it sounds like a potentially good deal but maybe not a giant rip. Unless there happen to be some nice ones in there.
The impression I got yesterday was of someone who needs money quickly. He asked if I could come into town yesterday (I live out in the rural county), but I had just gotten off graveyard shift and had been awake for almost 24 hours. I told him that, and that it was pretty much impossible for me yesterday. I'm still tired today after another graveyard shift, but at least I got in a nap earlier.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
"La Vostra Nonna Ha Faccia Del Fungo"
Hey, who's beeping that horn outside? Hang on a sec.
Oh. The mail lady. Needed a signature. Guess what just arrived. A box of ...
wait for it...
Morgan Dollars!
The ones I bought from Wesley (guitarwes) on BST have arrived. I'll open them later.
Could that be an omen?
Talk to y'all later...
<< <i>bad things happen when deals involve thirty pieces of silver >>
Good thing there's forty, then. I'll make a point not to buy just thirty. All or nothin'.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
2x2s, well worn, some culls- Perhaps.
Nice MS62-64 raw coins- Unlikely
<< <i>Once, a lady in my office had some "silver dollars" that she wanted to sell me. They turned out to be clad Ikes. >>
That has happened to me, too. And I can't count the number of times those "gold dollars" have been Sacs. Damn the US Mint for allowing the word "gold" anywhere near the modern dollar coin.
<< <i>What would your reaction be if they were all 93-S dollars? >>
Strong suspicion, followed by immediate cardiac arrest.
I don't expect GSAs or slabs or MS pieces. I wouldn't mind some decent original grey VG to XF pieces, though. Maybe a lustrous AU or two is the extent of my wildest dreams on this one.
We shall see. I gotta hit the road. It is a 35-minute drive into town.
Ciao.
P.S. Good Luck
Free Trial
<< <i>"These are MORGAN dollars, right?" I asked today.
"Yeah", he said. >>
This is a good question to ask. A couple years ago a guy called me up and said he had a "bag" of "silver dollars" that he wanted to sell. Man, it was all I could do to contain my excitement because, of course, I was thinking mint canvas bag of Morgans. So, we made an appointment. He shows up and, yep, you guessed it. It was a plastic baggie of circulated Ikes.
Russ, NCNE
Whether or not they're really Morgans, I would have asked for a couple of dates. If he said "1976" then you'd know they're Ikes. If he said "1878", then you'd know they're Morgans.
<< <i>A couple years ago a guy called me up and said he had a "bag" of "silver dollars" that he wanted to sell. Man, it was all I could do to contain my excitement because, of course, I was thinking mint canvas bag of Morgans. So, we made an appointment. He shows up and, yep, you guessed it. It was a plastic baggie of circulated Ikes. >>
That's pretty funny.
I bet real Morgan's, circulated. Some of the same date's you just got in the mail from me.
That's tooooooo funny that they got there when you were getting ready to go get some more. I couldn't have timed that more perfectly if I'd wanted to.
Too many positive BST transactions with too many members to list.
Over the years I've had more than enough opportunities to "steal" coins from unknowing heirs and the elderly. I don't know how some of these dealers (not you) sleep at night. I had a dealer whom I used to consider a friend and good guy brag to me once how he got a complete Washington Quarter collection for melt. And he was proud of it.... I never spent another dime with him.
I'm sure you'll do the right thing!
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>Not to put any fear in this- but they could be stolen. Keep an eye out if they are genuinely slabbed by one of the big 3. >>
This was my first thought, also. They're stolen certified coins and that's why he's willing to let them go for so cheap.
<< <i>This is a good question to ask. A couple years ago a guy called me up and said he had a "bag" of "silver dollars" that he wanted to sell. Man, it was all I could do to contain my excitement because, of course, I was thinking mint canvas bag of Morgans. So, we made an appointment. He shows up and, yep, you guessed it. It was a plastic baggie of circulated Ikes.
Russ, NCNE >>
They key question should be, "What are a few dates of these coins?"
However, here's hoping ya kill em.
<< <i>
<< <i>This is a good question to ask. A couple years ago a guy called me up and said he had a "bag" of "silver dollars" that he wanted to sell. Man, it was all I could do to contain my excitement because, of course, I was thinking mint canvas bag of Morgans. So, we made an appointment. He shows up and, yep, you guessed it. It was a plastic baggie of circulated Ikes.
Russ, NCNE >>
They key question should be, "What are a few dates of these coins?" >>
A couple of years ago I was sitting at my desk, I had been working on a bunch of Type 1, 2 & 3 gold dollars. While at my desk, I took a phone call from a guy who wanted to know what a gold dollar was worth. Without thinking much, I replied it depended on the grade and mint mark, but even in low grade they should be worth $50 each or so. He thought that was great and said he'd be in.
The guy showed up a couple hours later with all the Sac's he could buy at the local banks.....
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
<< <i>
<< <i>Once, a lady in my office had some "silver dollars" that she wanted to sell me. They turned out to be clad Ikes. >>
That has happened to me, too. And I can't count the number of times those "gold dollars" have been Sacs. Damn the US Mint for allowing the word "gold" anywhere near the modern dollar coin.
<< <i>What would your reaction be if they were all 93-S dollars? >>
Strong suspicion, followed by immediate cardiac arrest.
I don't expect GSAs or slabs or MS pieces. I wouldn't mind some decent original grey VG to XF pieces, though. Maybe a lustrous AU or two is the extent of my wildest dreams on this one.
We shall see. I gotta hit the road. It is a 35-minute drive into town.
Ciao. >>
Damn! I cant wait to hear the update. Time to subscribe to this thrilling thread!
TC71
<< <i>A couple of years ago I was sitting at my desk, I had been working on a bunch of Type 1, 2 & 3 gold dollars. While at my desk, I took a phone call from a guy who wanted to know what a gold dollar was worth. Without thinking much, I replied it depended on the grade and mint mark, but even in low grade they should be worth $50 each or so. He thought that was great and said he'd be in.
The guy showed up a couple hours later with all the Sac's he could buy at the local banks..... >>
I would put most of the blame for this on the Mint. They are the ones who used that misleading "Golden Dollar" garbage to hype the coins and encourage their usage.
<< <i>bad things happen when deals involve thirty pieces of silver >>
ROFL!!!!
Unless it takes a really long time, then I'll be worried that he's been buried under 3 feet of dirt.
My World Coin Type Set
i get anything with a CC mintmark!!!
greg
www.brunkauctions.com
And I did come home with some coins.
But the @#% digital camera battery is dead. So you have to wait for scans.
It's a long and interesting tale. Turns out I know this guy, who had identified himself as William over the 'phone originally, and said we knew each other. I couldn't remember him to save my life.
When I saw him, I said, "Oh, that William!
He apologized for a miscount, and said he'd found some more. First thing out of his little camera bag was a stack of clad Ikes.
Crap.
But then the rest came out.
<< <i>He apologized for a miscount, and said he'd found some more. First thing out of his little camera bag was a stack of clad Ikes.
Crap.
But then the rest came out. >>
Spill it!
Russ, NCNE
I want to get a cup of coffee, but more caffeine would not be wise while waiting...and waiting...and waiting....
I just sat down with a snack, ready to go for a great story, now LM strings us along to wait!?!?!?!??!
TC71
Click on this link to see my ebay listings.
<< <i>We're turning blue out here from holding our collective breath!!!! >>
And believe me, I'm loving every second of it.
Patience, mon ami, while I figure out why my fargin' camera ain't cooperating. I put another battery in but now the display is frozen up. Old camera. Big, clunky Mavica.