Selling Ikes

[Styfflin]

I just made my first coin roll hunting sale. After picking through all my Ikes for varieties and higher grade coins, I put $300 worth of them on Craigslist. Sold them in day 2 of being listed for $400!
I worded my listing a little more broadly - not referring them to Eisenhower dollars but old large dollar coins. Age is relative. And also provided the all-or-none safeguard so that the buyer wouldn't leave me high and dry when he doesn't see any silver edges.

 

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[Joe777Cool]

OK here's a good one for you guys.

I listed ikes on craigslist for a few bucks apiece, I had 27 of them. $4 each (wow!) or $64 for the whole lot. There is an institution around here that uses them for graduation, but the new grads have trouble finding them so I figured hey why not supply the market. Demand is up, so I can get more than normal for them.

I specifically said "no S mints" on the listing. I described the exact reason I was selling them. I didn't say "none are silver", but keep in mind all silver ikes are S mints.

Anyways some young guy in his 20s emails me and says he wants to take a look at them, so I meet him across town. I hand him the bag of coins and say "take your time." He then proceeds to pull out a scale, and his smartphone which is on a coin site. He spends 15 solid minutes going through the coins, weighing them, and scrolling up and down the ike site he's on. "I want all of them but these 3" he says, but then says "but I might as well buy them all." he seems really happy with himself.

I get an email the next day that says "Looks like you really made out on that one, I learned my lesson."

Of course I knew what he was doing when he was weighing out the coins. I knew exactly. he thought he had found a seller that didn't know what he had and thought he was going to make a bunch of money. Should I have stopped him and said "wait, do you think those are silver? you know they're not"

hell no, at least in my opinion. If it needs to be said, I did not misrepresent the coins in any way, and he was the one who was trying to make out like a bandit. I gave him all the time he wanted, and he had all the resources right in front of him to make an educated decision. In face, in my opinion he is the ridiculous one for having the audacity to send me an email.

If you think about it, we screw people over all the time in suttle ways. I know where to buy and find things for cheap, and other people don't spend the time and do the research and they pay retail or near retail. Knowledge makes money. The poster here did nothing wrong either in my opinion, if someone really bought those thinking they were going to score big what can I say. At least the post didn't say "unsearched, potential silver but you can't look through 'em first!"

Awesome story!! Really the guy thought he was pulling one over on YOU if he thought they were all silver...did that stop him? Did he say to you "you know these are silver" (even though he was wrong) and are worth more than you are asking?

I have bought and sold a ton of stuff. I dont rip off people I know. I try to be as honest as possible with my Ebay/CL dealings (while still trying to maximize my returns). When it comes to coin shops/pawn shops/antique shops - its fair game IMO. If they want to sell me a $1000 coin for $25, I'm gonna plop my $25 on the counter and tell them to have a nice day. If you represent yourself as a business you should know better!

In this day and age, there is so much easily accessible information that it boggles my mind when people dont make any effort to figure out what something is worth.

 

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[enamel7]

I once went to an estate auction and they brought out the guys coin collection. They were all common Ikes. They sold for 8 bucks apiece! I was saying hey, let me go to the bank and get you more to buy! I just couldn't believe it!

 

[The_EE]

I once went to an estate auction and they brought out the guys coin collection. They were all common Ikes. They sold for 8 bucks apiece! I was saying hey, let me go to the bank and get you more to buy! I just couldn't believe it!

I had that happen and the guy would not buy them off me for $2 ea after the estate auction.

I recently sold 146 oz of silver for $26 an ounce or $3800 to a guy who really wanted my coins. I then purchased 150 oz ( 100 oz bar and 5 - 10 oz bars ) for $3405.55 from Provident and had some spare money to burn.

 

[Diggin-N-Dumps]

In this day and age, there is so much easily accessible information that it boggles my mind when people dont make any effort to figure out what something is worth.

..I know...I think about that everytime I see someone ask on here " What years are the silver coins"....lol....All i can think is....OPEN A NEW TAB AND GOOGLE IT!!

 

[Pipster]

Personally i think you made a hell of a deal, something is worth only what people will pay for it, i see these ike's at gun shows coin stores and everyone of these are over face and people buy it are they unethical NO. if i had that many laying around i would try this way too. CRH is 2 fold for me i am a collector and investor if i see opportunity to sell things i do not find of interest for my collection in my travels like NIFC'S i sell em to people that do. and i am pretty sure everyone here at some point in their life has sold something for more than it was worth.