Jump to content
Fantasy Football - Footballguys Forums

Coin Collectors - Silver USD - FBG experts opinions??


Recommended Posts

I have a friend who is going to acquire a very sizable amount of coins from family.  Think hundreds of pounds of coins such as Morgan Silver Dollars, etc.  Friend has almost no idea about how to go about selling coins without getting ripped off.  Seeing as silver prices are going up, is there any recommendations as to how to go about making sure when selling some of these assets that you get a fair price for the items.  There are hundreds (maybe even thousands) of coins involved and obviously not all would need to be sold at the same time.

Link to post
Share on other sites

Coinflation.com will give base silver value per piece.  However coins may have numismatic value as well.  The friend could view an online guide or store for a general idea of value.  Then take them to a local dealer to get a better estimate or sell.

  • Like 1
Link to post
Share on other sites

What is friends intention?

Obviously get the most money for it but there are 2 schools of thought here.

Does he want to package the whole lot and sell eveything as easy as possible for the best price possible over the course of a few days/weeks?

Does he want to learn about each individual coin and sell each on an individual basis to maximize the amount of return on the entire lot over the course of 3-6 months?

  • Like 1
Link to post
Share on other sites
18 minutes ago, comfortably numb said:

What is friends intention?

Obviously get the most money for it but there are 2 schools of thought here.

Does he want to package the whole lot and sell eveything as easy as possible for the best price possible over the course of a few days/weeks?

Does he want to learn about each individual coin and sell each on an individual basis to maximize the amount of return on the entire lot over the course of 3-6 months?

Odds are he's not sitting on a pile of slabbed Morgans.  It's going to be a pile of 1921 MS4s. He might find one or two in the 60s out of 100.    Nobody is sitting on a bunch of gem quality Morgans.  

  • Like 1
Link to post
Share on other sites
7 minutes ago, culdeus said:

Odds are he's not sitting on a pile of slabbed Morgans.  It's going to be a pile of 1921 MS4s. He might find one or two in the 60s out of 100.    Nobody is sitting on a bunch of gem quality Morgans.  

Yea, I don't know anything about coins but I have priced baseball card collections for people and done this in 2 forms as people naturally always think their things are worth a lot more.

But I will say...your collection is worth 3500 but that is  YOU selling eveything in small batches or individually over the course of 3-6 months and dealing with listing/packing/shipping

Your collection is worth 2000 if you want to unload the lot in 1 shot for someone else to do all that work.

Friend can find out how much this collection is worth from a dealer....and then find out how much someone is willing to buy it at a lower price with intentions of reselling.

Best case scenario is finding the collector that wants the items and avoid the "middleman" but that is where all the work/time lies in that no one wants to deal with.

  • Like 1
Link to post
Share on other sites
49 minutes ago, culdeus said:

Odds are he's not sitting on a pile of slabbed Morgans.  It's going to be a pile of 1921 MS4s. He might find one or two in the 60s out of 100.    Nobody is sitting on a bunch of gem quality Morgans.  

Ultimately that's probably the problem.  Not knowing exactly what the pieces are.  Like I mentioned, hundreds of pounds of silver coins.  Agree with best scenario finding a collector.  

Ironically I did search "coin" in title search first and came up with almost nothing, but if someone has a link to a thread I'd be happy to review it as well.

Another concern on holding is risk of theft or other loss, since homeowners insurance has very limited coverage.

Edited by flranger
Link to post
Share on other sites
1 hour ago, flranger said:

Ultimately that's probably the problem.  Not knowing exactly what the pieces are.  Like I mentioned, hundreds of pounds of silver coins.  Agree with best scenario finding a collector.  

Ironically I did search "coin" in title search first and came up with almost nothing, but if someone has a link to a thread I'd be happy to review it as well.

Another concern on holding is risk of theft or other loss, since homeowners insurance has very limited coverage.

You will get spot +???  For most all coins that can't slab.  On the low end of the range people get these coins for melt value.  The ??? You get is somewhat fungible.  With silver spiking the ??? May pull back.  

  • Like 1
Link to post
Share on other sites
2 hours ago, flranger said:

Ultimately that's probably the problem.  Not knowing exactly what the pieces are.  Like I mentioned, hundreds of pounds of silver coins.  Agree with best scenario finding a collector.  

Ironically I did search "coin" in title search first and came up with almost nothing, but if someone has a link to a thread I'd be happy to review it as well.

Another concern on holding is risk of theft or other loss, since homeowners insurance has very limited coverage.

You can get a collection insured if you want.  I use Morgans because everyone knows them.  Your absolute bottom dollar (so to speak) should be the full weight in silver.  Morgan are 90/10 so at today's price that's about $24 a coin.  As you get to stuff like Jeffersons and mercury dimes you will be harder pressed to get full weight as spot.  For dimes and things there is value in getting complete sets, even if they are crap value.  So if you want to sift, that's a reason to sift.  

The first thing to do is confirm what you have.  A lot of people think they have "war nickles" when they have ####. Weigh it all out, count it, do a spot check just to make sure you are not dealing with something that's over your head.  99% of the time when you find bags of silver it's someone that got into it in the 80s post Hunt and post Black Monday with no coin value at all.

Edited by culdeus
Link to post
Share on other sites
5 minutes ago, culdeus said:

You can get a collection insured if you want.  I use Morgans because everyone knows them.  Your absolute bottom dollar (so to speak) should be the full weight in silver.  Morgan are 90/10 so at today's price that's about $24 a coin.  As you get to stuff like Jeffersons and mercury dimes you will be harder pressed to get full weight as spot.  For dimes and things there is value in getting complete sets, even if they are crap value.  So if you want to sift, that's a reason to sift.  

The first thing to do is confirm what you have.  A lot of people think they have "war nickles" when they have ####. Weigh it all out, count it, do a spot check just to make sure you are not dealing with something that's over your head.  99% of the time when you find bags of silver it's someone that got into it in the 80s post Hunt and post Black Monday with no coin value at all.

Appreciate your feedback.  Ultimately, it is not mine but a close friend who I know will need help sorting everything out and probably look to me to guide her.

Link to post
Share on other sites
11 hours ago, culdeus said:

You can get a collection insured if you want.  I use Morgans because everyone knows them.  Your absolute bottom dollar (so to speak) should be the full weight in silver.  Morgan are 90/10 so at today's price that's about $24 a coin.  As you get to stuff like Jeffersons and mercury dimes you will be harder pressed to get full weight as spot.  For dimes and things there is value in getting complete sets, even if they are crap value.  So if you want to sift, that's a reason to sift.  

The first thing to do is confirm what you have.  A lot of people think they have "war nickles" when they have ####. Weigh it all out, count it, do a spot check just to make sure you are not dealing with something that's over your head.  99% of the time when you find bags of silver it's someone that got into it in the 80s post Hunt and post Black Monday with no coin value at all.

Remember that a Morgan's not a TOz, but.77 and change. Cull Morgans at spot are $21 ish.

Mercury / pre-64 Rosies are going for spot. War Nickels aren't. Looks like the online dealers have pulled their buyback prices. I would get a quote from APMex, JMB or Provident and a local shop.

I agree with Culdeus that if these are bags / rolls that were purchased after 1980 it is highly unlikely there's anything premium in either condition or mint mark.

  • Like 1
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...