Silver Coin experts chime in please!!!

[Jay Plunder]

Ok here is the deal, alocal Pawn shop has a Peace dollar collector book, and there is only 10 Peace dollars. I cant remember the years but they did range from a 1921 all the way to 1935 or 6. They all looked in decent shape, nice looking coins. He is asking $200 for all ten Peace dollars. I offered 150, he said 175 is the best he could do.

Should I get 10 Peace dollars for 175 bucks? I know you would need pics/years/info do determine but I dont even know. Melt value alone is like 11.50 a piece for them right now. GRRRR I dont know what to do!

Respectfully,
J

 

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[Mackaydon]

I'd go back to the pawn shop with a 'crib sheet' that will show you what standards are required for various conditions/grades (G, VF, EF, AU, etc). Take that information back home (your rating of the coin's condition/grade and look on eBay for what the prices are for comparable condition coins. (Also check the Red Book for comparable retail values.)

Then make your decision, and if you decide to buy, go back and reoffer $150--see what happens. (Show him the cash.) If he counters with $175 and they're worth more than that, I'd offer to split the difference: $162.50--and be prepared to walk out--leaving your phone number (if you wish) in the event he wants to change his mind in the next day or two.
Good luck,
Don.....

 

[spartacus53]

Welcome to T-net. Don gave you some good advice. The most important thing to remember is VALUE. Face value to day is still $1.00 each, that doesn't change. You are correct at looking at the weight value that is greater. In the end, it all boils down to what are they worth to you and how much are you willing to pay?

 

[Jay Plunder]

Thanks for the advice. I just want to begin a new hobby, and do it in a semi-smart way. Glad to see a lot of knowledgeable people on this site.
Thanks!

 

[Jay Plunder]

Welcome to T-net. Don gave you some good advice. The most important thing to remember is VALUE. Face value to day is still $1.00 each, that doesn't change. You are correct at looking at the weight value that is greater. In the end, it all boils down to what are they worth to you and how much are you willing to pay?

Well the circulated Peace $ on Ebay were all going for around the 13-15 range. There were some key dates he had in the set such as the 1921 and the coins visibly looked in great condition. Just not in $17 a piece condition. I assume these Peace dollars will gain value in the long run, right? I want my children to have my coins and collectibles someday.

 

[BuckleBoy]

From one musician to another, Welcome To TreasureNet!


Regards,


Buckleboy

 

[stefen]

To me, this doesn't sound like a bargain.

If the sale cost is equal to 'book value', I would forget the purchase. You can buy at book value or less everyday....all day long.

When you add sales tax to the purchase price then the coins would need to appreciate to reach that value before its a break even deal.

If you are looking for a coin book, these can be bought new or used from most coin stores.

Be smart and make friends with a coin dealer you trust and purchase your coins one at a time until you learn the ropes...then you can comfortably branch out into larger mass purchases.

A person needs to understand how a coin is appraised...what to look for...

I have seen many coin dealers push the limits...thats where you need to shine...

This is a good hobby, however, its easy to get burned.

Good luck.

 

[Dirt Dobber]

Hey Army welcome to T-Net. If in fact there is a 1921 peace $ in the mix & it is at least in very fine condition it alone should be worth 95-100 alone. If u can go to a book store and look for Official Whitman guidebook Grading standards for U.S. coins. Look up the pic. of coins see if u can match pic with condition u saw. Better yet if u want to start collecting coins u may as well buy the book and to get a ballpark pricing get the 2010 red book while ur at it. Take to pawn shop and compare side by side what they are offering. As you have posted to date I don't think its a deal 4 u @ $175+ tax. Good luck. D.D

 

[Siegfried Schlagrule]

nine junk silver dollars at ten bucks apiece equals $90; collector books retail at
$19-$29 depending on brand; 1921 Peace is a semi-key. Sounds like a pretty good deal unless the 1921 is fake. When someone offfers you a great deal it is very unwise to try to beat them down on the price. siegfried schlagrule

 

[Jay Plunder]

Everyone thank you for the welcome! And CRAP how to find out if the 1921 is a fake!?? The pawn shop doesnt normally deal with coins, he only has the book o Peace dollars and a Gold 1911 Indian for 300 bucks. I will Google an answer now to find out how to spot fakes.

 

[Siegfried Schlagrule]

many large chinese fake silver copins are a low grade styainless steel that is
magnetic. siegfried schlagrule