Im crossing my fingers twice.

[Dozer D]

I'm crossing my fingers twice.

A lady friend of my wife & I called and asked of I'm still interested in checking coins. I said SURE, for two reasons:
#1 - she says she has a full 5-gallon water jug full of coins that I can take home to check; and then take them to a bank to dump for cash, to be returned to her, less any coins I found at FV.
#2 - she also has a friend that says that they have about $1000.FV in silver coins, and was also wanting to know if I would like to buy them. First I need to check around town to see what the paying rate is for junk silver, second to see exactly what kind of coins they really are (junk silver or collectibles), and third (MOST IMPORTANTLY) to offer an amount for the lot. Seeing that melt AG is around $15.50/oz and bouncing around there, I was figuring about 5 to 7 times face. I know that sounds low, but what if price drops lower, and at $1000 FV, I certainly don't want to take a deep hit on a wrong guess. Then again if I don't offer x-times high enough, they may say NO and sell to someone else. Any thoughts on the subject. Like I said on the title = I'M CROSSING MY FINGERS TWICE.

 

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[Avago]

You can always raise your buy offer in negotiation, but once you put a price out there's no going back down! You're right though, $1000 FV is a lot to risk a loss on, so I would also play it safe with a lower offer to begin. Pick an upper limit and walk away if you can't get it for that price or lower.

 

[Vdubguy]

Hope you find some good ones in that water jug! That's a lot of coins to search. Lucky you!

HH

 

[worldtalker]

A lady friend of my wife & I called and asked of I'm still interested in checking coins. I said SURE, for two reasons:
#1 - she says she has a full 5-gallon water jug full of coins that I can take home to check; and then take them to a bank to dump for cash, to be returned to her, less any coins I found at FV.
#2 - she also has a friend that says that they have about $1000.FV in silver coins, and was also wanting to know if I would like to buy them. First I need to check around town to see what the paying rate is for junk silver, second to see exactly what kind of coins they really are (junk silver or collectibles), and third (MOST IMPORTANTLY) to offer an amount for the lot. Seeing that melt AG is around $15.50/oz and bouncing around there, I was figuring about 5 to 7 times face. I know that sounds low, but what if price drops lower, and at $1000 FV, I certainly don't want to take a deep hit on a wrong guess. Then again if I don't offer x-times high enough, they may say NO and sell to someone else. Any thoughts on the subject. Like I said on the title = I'M CROSSING MY FINGERS TWICE.

#1.....Better bring a dolly.

 

[CC-Hunter]

I don't know the details of the situation, but I assume that someone with $1000 FV of coins that they know are silver knows what they have and may not appreciate a low offer. I would first find out what you can quickly resell the coins for to a buyer who deals in size (e.g., your LCS, Apmex, Provident, etc.) and buy for a little below that. I don't know what big buyers are paying now, but I think an offer of 10X would be ok if you can flip for 11X or more. When I have made big buys in the past I usually resell a big chunk of it quickly so I can sleep at night, even if I only do so for a small profit. Once I have a smaller chunk left I can look around on Craigslist, etc. for small buyer who might give me a much better price than a professional dealer. I also wouldn't skimp on my offer if the coins include things like Bens, Walkers, Barbers, SLQs, etc. that are in good shape - those you can take your time selling on ebay for much more than melt. I also wouldn't skimp if the lot includes a lot of coins that fill holes in your collections or upgrade coins you have. Adding to your collection for something around melt is a good deal.

Best of luck.

 

[baddbluff]

Basically what CC said. Find out what others are buying for and you could just offer a little less and turn it over really quick. I wouldn't hold it. Make a little off it and hope to maybe pull a few better dates out of it that you could sell on eBay to collectors.

 

[Dozer D]

Partial answers to my questions:
Q#1: NO, it was not a full 5-gal jug, but only a shorter stubby version at 3-gallons, BUT only one-half full. Est weight about 20 lbs, and by the looks of it, average circulation pocket change. Should be able to get through it in one night.
Q#2: Checked around a few shops on the phone as to going price on JUNK SILVER. Ranges of the three shops at: 7.1, 8.9, and 10 times FV on junk AG. The 10-times would put it just under current melttoday's melt for a dime is $1.12), getting $1.00 for a dime wouldn't be too bad, however my offer will only be about 5-6 times face. Yet to see the $1000 FACE of AG.

 

[CC-Hunter]

Good luck. If you grab the junk AG for 5-6x face you will make a killing.

 

[BuffaloBoy]

Hope everything works out in the end. Remember, don't be too greedy or it will backfire on you.

 

[ArkieBassMan]

Rule #1: NEVER make the first offer unless you absolutely have to. I'd hate to offer 8X if 5X would buy them, especially when we're talking thousands of dollars difference. IMO its the seller's responsibility to set the opening price. As with any deal, have a maximum you're willing to spend. Try to get it cheaper, but if in the end the price is above an amount at which you are comfortable, then simply pass on the deal. Simple as that.

I'm shocked you have a local place paying 10X face when melt is barely over 11. The best paying dealer in my area was paying 8X face when silver was in the $30's.

 

[Dozer D]

Results to my Q#1, on the 3-gal water jug.
Total of $317 coinage, good mix throughout. About 1000 coppers, 15-wheaties, a few 2009 dimes, few pre-60 nickels, but NO current silver(except a '57Can dime). BUT NOW THE GOOD STUFF: a 1900 Barber dime(about good), 10-Indian Head cents(1-each: 1880,90,91,92,95,98,99,03,05,07 all in good to maybe fine condition) I was really shocked to find one, let alone ten in the jug plus ALL different dates, AND (DRUM ROLL PLEASE) as of now, I have to crown myself with "the two time winner of the coveted - SEATED LIBERTY DIME award." The first one I found was about 1 1/2 years ago(check some of postings going back on this). This one however is less than POOR, barely could make out the date of 187?(could possibly be 1872,1878,1879) the last digit is faintly readable only on the top, the image of SEATED LIBERTY is faintly visible, the reverse is totally worn away & nothing readable at all. The typical joe on the street wouldn't even think that it was a seated liberty, however I knew what she looks like even when well worn. It's been a long time since I've seen anyone post a seated finding, now I have two. I'm going to attach pics, hope they turn out, the IH you'll be able to see, maybe the Barber, but I highly doubt if anyone can make out "her grace"., trust me she's there.

 

[FormerTeller]

NICE!!!